How To Become A Real Estate Agent In Australia: Explained | Study in Australia • OzStudies (2022)

How To Become A Real Estate Agent In Australia: Explained | Study in Australia • OzStudies (1)

Are you thinking about starting a career in real estate?

Becoming a real estate agent in Australia is the perfect profession if you get along well with people and are looking for a job that provides the thrill of closing deals.

To work in property management, real estate sale, or a client-based role in Australia, you must satisfy specific requirements set out by the licencing authorities in your state.

In the post below, you will learn how to become a real estate agent in Australia and succeed in the real estate industry.

1. What Does AReal Estate Agent Do?

Real estate agents work with customers to make selling and purchasing properties and residences as simple as possible. Generally, real estate agents look at theproperty valueand compare similar regional sales to establish appropriate pricing for buying or selling a property.

However, only some deals are easy, and real estate brokers engage in long talks and work with negotiations to satisfy the needs of all parties involved.

A real estate agent can make a lot of money on a sale orpurchase of a property, as they primarily work on commission that depends on the ultimate sale price of a property.

You must go through a state license exam and fill out the appropriate application to become a real estate agent in Australia. Different states have different application and license requirements, so you must fulfil the criteria required by your state.

Real estate brokerages can provide additional training on how to list and sell property properly. A real estate agent who works for a brokerage must work closely with their clients and other agents in their brokerage.

A real estate agent must always invite interested parties to show them the listed property and sell it quickly. This also enables potential buyers and clients to decide whether or not they want to close the deal. As a result, a real estate agent must guarantee that a home is clean and in perfect condition.

The agent must visit the property regularly to check on everything to keep it in proper shape.

2. Major Tasks and Duties of a Real Estate Agent

  • Promote the sales of properties via open houses, brochures, and online and print listings.

  • Identify potential buyers and seek out prospective vendors.

  • Advise clients on legal requirements, market conditions,mortgages, pricing, and other associated matters, including maintenance,financing, building work, appraisals, and repairs.

  • Accompany potential buyers during property inspections and present properties.

  • Build a network of lenders, solicitors, and contractors to refer clients.

  • Prepare documents and contracts, appraise properties, write vendor reports, facilitate settlements, and negotiate terms between parties.

3. What are the Requirements to Obtain a Real Estate License in Australia?

A real estate agent licence may help you take your profession to the next level, whether you are seeking a fresh start or have been in the field for a long time.

Below you will find the real estate agent license requirements for every state and territory in Australia, including essential links to fill up the online application forms.

Queensland (QLD)

Suppose you are wondering how to become a real estate agent inQld. In that case, you must first meet specific training requirements and eligibility criteria for obtaining a real estate licence.

You can choose to undertake the Property Services Training Package (CPP07), which is a nationally recognised training package that contains the following modules:

  • Appraise property

  • Manage small business finances

  • Market property for sale

  • Interpret legislation to accomplish work in the property industry.

  • Identify ethical and legal requirements of property management to perform agency work.

You can complete the course at reputed institutions like Property Training Australia or REIQ. Also, it is vital to note that you will be assessed as competent in 19 different units to qualify for a license.

Once you are ready to get a license, visit theQueensland Government websiteto download the application form for a real estate agent license. After filling out the application, you can drop it off personally at a Queensland Government Service Office or mail it to the Office of Fair Trading.

Remember that you will also require proof of your qualifications and formal identification.

New South Wales (NSW)

To get a real estate licence inNSW, you must fulfil strict eligibility requirements, including being proper and fit to acquire a permit. Here are some of the standard requirements:

  • Complete the real estate agent license course — CPP40307Certificate IVin Property Services (Real Estate).

  • Make sure to pay the relevant contribution to the Property Services Compensation Fund.

  • Your primary place of work should be in New South Wales or within 50 kilometres of the NSW border.

The good thing is that you can complete the real estate agent course in NSW either part-time or full-time,on-campus or online. For additional information, you can visit the websites ofTAFE NSWand theReal Estate Institute of NSW.

Check outService NSWto apply for your real estate agent license online.

You will need identification documents to submit your application, including your qualifications documents, proof of your professional indemnity insurance, and a driver's license.

Victoria (VIC)

Consumer Affairs Victoria is in charge of real estate licencing inVictoria. You must meet the following criteria to be eligible to obtain a real estate license:

  • Complete real estate agent course — Certificate IV in Property Services (CPP40307).

  • During the last three years, before applying for a license, gain at least 12 months of full-time experience in Victoria as an agent's representative.

You can complete the real-estate agent course atREIV(Real Estate Institute of Victoria) or look for other providers.

Furthermore, you can apply for a real estate agent licenseonline. To complete the application, you must agree to a national criminal background and other records check.

Also, you have to submit a copy of your Victorian academic qualifications and even copies of your identification documents.

South Australia (SA)

Real estate agents who want to run their businesses in South Australia are also known as land agents.

Completing a Diploma of Property Services (Agency Management - CPP50307) is the minimum requirement for obtaining a real estate licence inSouth Australia.

To complete this course, you will require 24 units, with additional units dedicated to real estate business management. Under this course, you will learn the following things:

  • Marketing your agency

  • Developing a strategic business plan

  • Managing financial plans and budgets

  • Managing people performance

You can complete the above course at My Real Estate Training or Real Estate Training Academy. You can visit the REISA (Real Estate Institute of South Australia)websitefor more information.

Visit theSouth Australia Government websiteto learn how to become a real estate agent in South Australia and apply for your real estate agent license.

Along with the application, you will also have to meet financial probity requirements and submit the required documents, such as a national police certificate and identification and qualification documents.

Western Australia (WA)

To work as a real estate agent in Western Australia, you need a current triennial certificate and a real estate licence.

Note:You receive the triennial certificate when your licence is first issued and then renewed every three years.

To apply for a real estate licence inWestern Australia, you must demonstrate that you have the financial means to run a real estate business. This entails filing a confidential asset and liability declaration and running a credit check.

You must also meet the following requirements:

  • Before applying for a real estate agent licence, you must gain at least two years of continuous full-time experience in the real estate sector.

  • Complete Diploma of Property Services (Agency Management - CPP50307)

To get the agent license application form, visit theDepartment of Mines, Industry Regulation and Safety website. After filling in the form and attaching the supporting documents, you can submit the application by mail or in person at the Department's Cannington office.

The documents you submit usually include a statement of experience, an Australian police check, evidence of your educational qualifications, and two references.

Tasmania (TAS)

To be eligible for a real estate agent licence inTasmania, you must meet the following requirements:

  • During the previous five years before completing your application, gain two years of full-time experience as a property representative or property manager.

  • Complete a Diploma of Property Services (Agency Management - CPP50307).

  • Pay the relevant application fee.

  • Be considered suitable and fit to become a real estate agent.

  • Be prepared to continue your education.

You can study the real estate agent course via theREIT(Real Estate Institute of Tasmania).

TheProperty Agents Board of Tasmaniais responsible for real estate licencing applications. When submitting your application, you must provide the following:

  • A National Police Record Check.

  • Proof of your qualifications.

  • Details of your employment/experience/knowledge.

  • Information about your professional indemnity insurance.

Australian Capital Territory (ACT)

In theAustralian Capital Territory, you must notify the public about your intentions to apply for a real estate agent licence.

To get the license, you must meet the minimum criteria, which include obtaining 24 months of experience, gaining the required qualifications, and not being disqualified. Additionally, a police certificate from the Australian Federal Police is also required.

Regarding qualifications, you must hold a Diploma of Property Services (CPP50307 - Agency Management). You can complete this Diploma through theREACT(Real Estate Institute of the Australian Capital Territory).

Northern Territory (NT)

Before applying, you must announce your plan to apply for a real estate licence in theNorthern TerritoryNews. After you notify, public members get 14 days to file an objection to your application.

You must undergo apolice and probity checkand complete a Diploma of Property (CPP50307 - Agency Management) to be eligible to apply for a real estate agent in the Northern Territory.

You can apply for the real estate agent online at theNorthern Territory Government website. If online applications aren't your thing, you can also apply through fax, email, mail, or in person.

You can pick up the application form at your localTerritory Business Centreor download it

Note:Real estate agent licenses in the NT are only valid for one, three, or five years.

4. How Much Does AReal Estate Agent Earn In Australia?

According toPayscale, the real estate agent's salary in Australia is between AU$39,000 and AU$107,000.

They earn a basic salary, including commissions, on each sale or deal they crack. As a result, the pay may vary depending on the state you work in and the number of deals and sales you close.

Now that you know how to become a real estate agent in Australia, you are ready to fill out the application form and get your real estate agent license.

Useful Links to Explore:

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