Everything You Need to Know About Getting Started in The NSW Real Estate Industry

The answers to commonly asked questions about getting started on your real estate career in New South Wales.

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Do you need a licence to sell property in NSW?

A licence is definitely required to sell property in NSW on behalf of a vendor. It is important that you hold the required training and licence, as this is the legal requirement to working as a real estate agent in NSW. The process involved with applying for a Class 2 licence with NSW Fair Trading, which allows you to work as a licenced agent is as follows: You need to complete the CPP41419 Certificate IV in Real Estate Practice course, you will need to ensure you apply with NSW Fair Trading for our Certificate of Registration (CoR). Once you hold a CoR, you need to gain a minimum of 12 months experience as an Assistant Agent in the industry (which must be documented in a logbook approved by New South Wales Fair Trading). Once you hold the industry experience component and your Certificate IV, you can apply to NSW Fair Trading for a Class 2 licence, which will then allow you to work as a licenced real estate agent in the industry. It is important to contact NSW Fair Trading directly to confirm their specific requirements regarding licensing and eligibility.

Where can I complete my course to do real estate in NSW? 

Validum Institute offers both the NSW CPP41419 Certificate IV in Real Estate Practice and the NSW Assistant Agent course for those looking to gain their NSW real estate qualification. Validum offer both courses at an affordable price, where payment plan options are also available to suit your budget! Validum have over 1,200 five star student reviews and have trained over 12,000 students! If you are looking for a training provider that offers free priority grading and has trainers who are currently working in real estate and can provide firsthand experience and training, look no further than Validum Institute.

Is being a real estate agent worth it?

Working in real estate can be an incredibly rewarding career, combined with the uncapped earning potential, real estate agents have the opportunity to be a part of a transaction that involves some of peoples largest assets. If you are looking for a career where each day looks different and allows you to communicate, build and grow your network of people around you, then real estate is for you! Whilst the first few years of your career will involve a lot of perseverance and dedication, as your experience grows, so will your network of clients and your earning potential!

How do I start a real estate business?

To operate a real estate business or work independently in NSW, you are required to hold a Class 1 real estate licence. If you wish to apply for a Class 1 licence with NSW Fair Trading, you need to hold a minimum of 2 years experience as a Class 2 licence holder, working as a real estate agent or property manager. Alongside the industry experience component to apply for a Class 1 licence, you are also required to hold the CPP51122 Diploma of Property (Agency Management) qualification. Once you satisfy the training and experience components you can put forward an application to NSW Fair Trading for a Class 1 real estate licence. It is important to contact NSW Fair Trading directly to confirm their specific requirements regarding licensing and eligibility.

How long does it take to get a real estate licence in NSW?

Once you ensure that you have fulfilled the required training and experience components needed to apply for a Class 2 licence, you can then put forward your application to NSW Fair Trading. Please note that the training and experience components are as follows: Completion of the CPP41419 Certificate IV in Real Estate Practice and 12 months industry experience as an Assistant Agent. The processing time for applications as outlined by NSW Fair Trading is approximately 30 business days.

How much does a real estate licence cost?

There are fees involved with holding a real estate licence in NSW. The fees associated with a Class 2 real estate licence include the following: $518 for one year, $1183 for 3 years and $1808 for 5 years (at the time of writing). You will need to ensure you have a current real estate licence whilst you wish to work in the real estate industry. These fees are separate to any fees required to gain your real estate training and are paid directly to NSW Fair Trading.

Can a real estate agent sell their own property in NSW?

In NSW, it is completely legal to sell your own property, however, agents do have a duty to disclose that they own the property. The benefit of selling your own home as a real estate agent is that you already hold the required skills and knowledge needed to sell real estate and do not need to confer with a professional to guide this process. You must remember however, that due to this property being your own, you may feel more emotionally connected to this transaction, which is why agents may opt to not sell their own properties.

How do I become a buyer’s agent in NSW?

If you wish to work as a buyers agent in NSW, NSW Fair Trading will require you to hold a Class 2 real estate licence. In order to apply for a Class 2 licence with NSW Fair Trading, you will need to ensure you hold the CPP41419 Certificate IV in Real Estate qualification, as well as 12 months industry experience working as an Assistant Agent. Once you hold a Class 2 licence, you have the flexibility to work as a buyers agent – please note that you will need to work under a Class 1 licence holder, you cannot operate your own business if you hold a Class 2 licence.

What is the role of a real estate agent? 

A real estate agent is involved with real estate activities relating to buying, selling or renting properties. Real estate agents represent their clients within these real estate transactions and provide all parties with the required knowledge to navigate the real estate market. Examples of activities which real estate agents may participate in within their role, include: market research, marketing and listing real estate, conducting property inspections, mediating negotiations between parties and building a strong database of connections. As such, the career of a real estate agent includes various different tasks that go beyond just buying and selling properties.

How do I get into real estate in NSW?

To get started in the real estate industry in NSW, the Assistant Agent course will provide you with the training requirements to apply for your Certificate of Registration with NSW Fair Trading. Once you hold your Certificate of Registration, you can commence working in the industry as an Assistant Agent either in sales or property management. As an Assistant Agent you must remember that you need to work under the supervision of a Class 1 licence holder. From here, you must complete your CPP41419 Certificate IV in Real Estate Practice within 4 years if you wish to continue working in the New South Wales real estate industry.

How much does a real estate agent make in NSW?

This is an important question, however, can not be definitively answered as there are a number of factors that will affect how much a real estate agent earns in NSW. For example, factors such as your level of experience, the location of properties you sell and the value of these. As an average range of what real estate agents in NSW typically earn, according to Indeed, this ranges between $55,000 – $195,000 per annum. It is important to remember that the factors mentioned above and more, will greatly impact your earning potential.

Are real estate agents in high demand in NSW?

The demand for real estate agents is dependent on the property market and value of real estate transactions which are occurring at that time. As of current, the strong market and high level of property transactions, has caused a high demand for real estate agents in NSW. With an ever growing population, the continuous need for buying, selling and renting properties will remain and as such, real estate agents are required to undertake and manage these transactions.

What do Assistant Agent do / what are Assistant Agent?

Assistant Agents in NSW real estate hold a Certificate of Registration with NSW Fair Trading and are able to work under the supervision of a Class 1 licence holder. As the title ‘Assistant Agent’ suggests, they assist with various real estate related duties. Assistant Agents however, cannot work independently in real estate or sign off on real estate documentation. To name some of the duties Assistant Agents might be involved with, these include: assisting with property inspections, assisting with property advertising and marketing, administrative duties and conducting market research.

How hard is it to become a real estate agent in NSW?

There are educational and licensing requirements outlined by NSW Fair Trading that need to be met in order to work as a licenced real estate agent in NSW. The process involved with applying for a Class 2 licence with NSW Fair Trading, which allows you to work as a licenced agent is as follows: You need to complete the CPP41419 Certificate IV in Real Estate Practice course, you will need to ensure you apply with NSW Fair Trading for your Certificate of Registration (CoR). Once you hold a CoR, you need to gain a minimum of 12 months experience as an Assistant Agent in the industry (which must be documented in a logbook approved by New South Wales Fair Traiding). Once you have the industry experience component and your Certificate IV, you can apply to NSW Fair Trading for a Class 2 licence, which will then allow you to work as a licenced real estate in the industry. It is important to contact NSW Fair Trading directly to confirm their specific requirements regarding licensing and eligibility.

How do I become a property manager in NSW?

Similar to the process involved with becoming a real estate agent in NSW, property managers will also need to hold a Class 2 licence with NSW Fair Trading. As previously mentioned, the process for this is: You need to complete the CPP41419 Certificate IV in Real Estate Practice course, you will need to ensure you apply with NSW Fair Trading for your Certificate of Registration (CoR). Once you hold a CoR, you need to gain a minimum of 12 months experience as an Assistant Agent in the industry. Once you hold the industry requirement component and your Certificate IV, you can apply to NSW Fair Trading for a Class 2 licence, which will then allow you to work as a property manager in the real estate in the industry. It is important to contact NSW Fair Trading directly to confirm their specific requirements regarding licensing and eligibility.

Do you need a degree or qualification to work in real estate in NSW?

Yes, qualifications are required to work in the real state industry in NSW. If you wish to work as an Assistant Agent in the industry, you are required to hold a Certificate of Registration (CoR) from NSW Fair Trading. To apply for your CoR, you need to hold the 5 Assistant Agent Units of Competency from the CPP41419 training package. To work as a Class 2 licenced agent in NSW, you need to hold the CPP41419 Certificate IV in Real Estate Practice qualification, as well as 12 months experience as an Assistant Agent in the industry. It is important to contact NSW Fair Trading directly to confirm their specific requirements regarding licensing and eligibility.

How do I get a Class 1 real estate licence in NSW?

If you wish to apply for a Class 1 licence with NSW Fair Trading, you need to hold 2 years experience as a Class 2 licence holder, working as a real estate agent or property manager. Alongside the industry experience component to apply for a Class 1 licence, you are also required to hold the CPP51122 Diploma of Property (Agency Management) qualification. Once you satisfy the training and experience components you can put forward an application to NSW Fair Trading for a Class 1 real estate licence. It is important to contact NSW Fair Trading directly to confirm their specific requirements regarding licensing and eligibility.

What is a Class 2 licence?

A Class 2 licence allows an individual to work in NSW real estate as a sales person or property manager, under the supervision of a Class 1 licence holder. To apply for a Class 2 licence, there are training and eligibility requirements set out by NSW Fair Trading which need to be upheld.

What is the difference between a Class 1 and Class 2 real estate licence?

A Class 1 real estate licence allows more flexibility in terms of real estate activities you can participate in. Class 1 licence holders can work in either sales or property management, but also have the ability to operate their own real estate business or work independently. Class 1 licence holders are also able to operate a real estate trust account. Class 2 licence holders, whilst they are licenced agents, they must work under a Class 1 licence holder and cannot operate a trust account.

What is CPD? How does it work in real estate NSW?

CPD Stands for Continuing Professional Development. NSW Fair Trading has requirements in place for all property agents in the real estate industry to undertake continuing professional development by completing ongoing training throughout their career. This applies to Class 1 licence holders, Class 2 licence holders and those who hold a Certificate of Registration. The CPD year runs from 23 March each year and ends 22 March the following year. Agents in the industry must complete the CPD requirements set out by NSW Fair Trading for their certificate or licence category each year.

How do I get into real estate with little money or on a budget?

The Validum Team understand that each student will have a different budget and as such we offer upfront or payment plan options for all of our courses. Our flexible payment plan options allow you to get started working towards your real estate career, even if you are on a tighter budget. Be sure to reach out to the Validum Team today to discuss how you can get started today!

Do real estate agents get paid well?

Real Estate can be an incredibly rewarding career, it is one of few industry where you can reach incredible levels of success without requiring you to hold a university qualification. The earning potential for real estate agents is uncapped and will increase as your experience and network in the industry grows.

Who Is Validum?

Validum Institute is a Registered Training Organisation (RTO). Validum has provided training for over 12,000 students and over our time in the training industry, have received over 1,200 five star student reviews – so don’t just take our word for it, check out our latest reviews which are a testament to the experience students have when they train with Validum! You can also head to www.training.gov.au to conduct an RTO search to verify any training provider which you may be considering.

Want further details on our real estate courses, or to arrange a FREE career consultation?

Contact the Validum Team TODAY on 1800 848 911, or visit www.validum.edu.au