NEW – NSW CPD as of 23 March 2020

All individuals who hold a Class 1 Licence, Class 2 Licence or a Certificate of Registration must complete the CPD specified for their licence or certificate category each year.

Class 1 – Licensee In Charge (LIC)  = 9 hours

Class 2 – Licence = 6 hours

Assistant Agent = complete at least 3 units of competency (Certificate IV)

Failure to comply with your CPD requirements may result in the suspension or cancellation of your licence or certificate.

 

Compulsory CPD topics – 3 hours per year

Compulsory topics will change each CPD year and can only be delivered by an approved provider as per NSW Fair Trading website list. Real Estate Consulting Solutions is approved.

Between 23 March 2020 and 22 March 2021, the compulsory topics are:

  1. Real Estate Reforms, including trust account requirements (1 hour)
  2. Rules of Conduct (1 hour)
  3. Risk Management – as is applicable to the agent’s licence category (1 hour)

 

Elective CPD topics – 3 hours per year

Elective topics may be delivered by any training provider that meets the NSW Fair Trading guidelines.

Class 1 or Class 2 licence holder may choose to undertake their elective CPD from any provider that delivers training in:

  • Property practice (sales and property management, strata and community management, stock and station agency, business sale or business broking, commercial and industrial property)
  • Marketing skills and/or practice
  • Communication skills and/or practice
  • Property transaction legal requirements
  • Ethics and professional responsibility
  • Fraud prevention
  • Marketing and quality control
  • Workplace health and safety
  • Legislation and compliance

A Class 2 licence holder may also choose elective topics relating to:

  • Risk management
  • Industrial relations and human resource management
  • Supervision requirements
  • Trust accounting principles and audit requirements

For class 2 licence holders, the completion of one unit from the CPP50307 – Diploma of Property Services (Agency Management) is equivalent to 3 hours of elective topics.

 

Business skills topics – 3 hours per year

Business skills topics may be delivered by any training provider. The provider does not need to be approved by Fair Trading.

Only Class 1 licence holders are required to complete 3 hours of business skills topics per year. A person may choose to undertake this CPD from any provider that delivers training in:

  • Trust accounting principles and audit requirements
  • Business risk management
  • Business practices, management and governance
  • Marketing and quality control
  • Trust accounting principles and audit requirements
  • Industrial relations and human resource management
  • Supervision requirements
  • Compliance audit and review
  • Fraud prevention
  • Workplace health and safety

Important: the requirement to complete business skills Elective topics will apply from the next CPD year, which starts on 23 March 2021.

For further information, visit the NSW Fair Trading website:

Continuing Professional Development requirements