Trust Accounts 101 for Real Estate (Type 1)
QLDCPD 20250186This CPD session provides a working understanding of trust accounting concepts, Queensland real estate trust account legislation requirements, and trust accounting practice.
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Session Overview
This is a Type 2 session
* In order to meet your annual CPD requirements, you will need to complete either:
- two Type 1 sessions; or
- a Type 1 session and a Type 2 session.
Session Objective
The session will provide you with a working understanding of trust accounting concepts, Queensland real estate trust account legislation requirements, and trust accounting practice.
Description of CPD session
This session covers the key matters involved in Queensland real estate trust account legislation. Topics include but are not limited to relevant Queensland real estate trust accounting legislation and requirements, opening trust accounts, operating trust accounts, recording trust account transactions, auditing of trust accounts and trust account responsibilities within an agency.
Session Topics
1. Examine trust accounts
1.1 Purpose of trust accounts for Queensland real estate agents
1.2 Queensland real estate trust account legislation
1.3 Role of Office of Fair Trading in regulating trust accounts
2. Operating and maintaining trust accounts
2.1 Opening a trust account
2.2 Receiving money into a trust account
2.3 Paying money out of a trust account
3. Identify established controls applicable to real estate trust account transactions
3.1 Agency roles and responsibilities for trust accounts
3.2 Staff monitoring and training
3.3 Use of source documents
3.4 Trust account cash books
3.5 Trust account ledger and client ledgers
3.6 Trust account reporting and accounting to agency clients
4. Explain common inaccuracies in trust account transactions
4.1 Reconciling trust accounts
4.2 Handling discrepancies in trust account records
4.3 Consequences of inaccurate or fraudulent trust account records
5. Other matters
5.1 Closing a trust account
5.2 Security
5.3 Trust account audits
6. Conclusion
6.1 Take home messages
CPD FAQ’s
What is the full name of this CPD session?
QLDCPD 20250186 – Trust Accounts 101 for Real Estate.
What CPD category does this course fall under?
This is a Type 1 CPD session.
How does this session count toward my annual CPD requirements?
To meet your annual CPD requirements, you must complete either:
- Two Type 1 sessions; or
- a Type 1 session and a Type 2 session.
This course satisfies one Type 1 requirement.
What will I learn in this session?
You’ll gain a working understanding of trust account obligations, including how to open and operate trust accounts correctly, maintain compliant records, reconcile transactions, and understand audit and reporting requirements.
Who should complete this course?
This session is suitable for principals, agents, property managers, and administration staff involved in receiving, handling or recording trust money.
What topics are covered?
The session covers:
- Trust account purpose and legislation
- Receiving and paying trust money
- Controls, roles and responsibilities
- Record keeping, ledgers and reporting
- Reconciliation and discrepancy handling
- Audits, security and compliance risks
Will this session help reduce compliance risk?
Yes. It’s designed to help agencies reduce the risk of breaches, discrepancies, and audit issues by improving trust account understanding and controls.
Is this course specific to Queensland?
Yes. It focuses on Queensland trust account legislation and the Office of Fair Trading’s regulatory role.
Why Validum
Queensland Trust Account Focus
Training aligned to Queensland legislation and Office of Fair Trading expectations.
Real-World Agency Systems
Covers how trust accounts operate in practice — not just legal theory.
Stronger Controls & Processes
Helps you implement clear procedures, documentation and internal controls.
Audit & Reconciliation Confidence
Improves understanding of reconciliations, discrepancies and audit readiness.
Reduce Risk of Breaches
Highlights common errors, consequences, and how to prevent issues.
Your Queensland CPD Starts Here
Validum Real Estate Training delivers structured, Queensland-specific CPD sessions designed to help you meet your annual requirements with confidence and clarity. Not sure which session is right for you?
