Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Agent education standards upped in Victoria

By Grace Ormsby
22 October 2020 | 1 minute read
Agent education standards upped in Victoria

In a bid to ensure the real estate industry’s delivery of high-quality services, Victoria has moved to increase its training requirements for new agents and agents’ representatives.

The new regulations were announced on Wednesday, 21 October, by the Minister for Consumer Affairs, Melissa Horne, and will see an overhaul of the units and courses required of new agents to become licensed as well as heightened education requirements for individuals to be eligible to act as agents’ representatives.

While estate agents seeking licensing were previously required to complete a 24-unit course, they will now need to complete a 30-unit course.

Advertisement
Advertisement

This will see them required to complete 18 units of competency for the award of the Certificate IV in Real Estate Practice as well as 12 units of competency for the award of the Diploma of Property (Agency Management).

The subject matter covered in Certificate IV units includes market property, establishing vendor and buyer relationships, establishing landlord and tenant relationships, transacting in trust accounts, and ethical practice.

For the Diploma of Property (Agency Management), competency units cover the management of compliance, the establishment and monitoring of industry trust account management, the management of ethical practice and safe workplaces, as well as team management and operational finances, among other requirements.

Incoming agents’ representatives will now also be required to be better skilled and will be required to complete the 18-unit Certificate IV in Real Estate Practice course.

Previously, agents’ representatives in Victoria only had to complete three units.

The changes will also see greater flexibility added to the Certificate IV in Real Estate Practice, enabling students to select three electives of choice.

The new education regulations aim to reduce the risks to vulnerable tenants and deliver improvements to the industry.

It’s also hoped the increased education requirements will decrease disputes between consumers and agents.

According to a statement from the minister, the regulations “reflect significant changes to the previous requirements due to the release of a new national skills and training package in 2019, which was endorsed by the Australian Industry Skills Committee and is being incorporated across all jurisdictions”.  

Ms Horne said the new requirements will give people buying, selling and renting homes in Victoria more confidence in the industry.

Adding that she is proud to be part of a government that values education and high-quality industries, the consumer affairs minister added that “these changes are just another way that the Victorian government is supporting estate agents by ensuring they have the skills they need to operate effectively”.

Agent education standards upped in Victoria
Melissa Horne reb
lawyersweekly logo

ABOUT THE AUTHOR


Grace Ormsby

Grace Ormsby

Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.

Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings
Do you have an industry update?

top suburbs

12 month growth
Mirador
103.33%
Bawley Point
98.13%
Walla Walla
90.7%
Byron Bay
86.67%
Kiama Heights
85.93%
Greta
84.14%
Nulkaba
81%
South Hobart
78.78%
Diddillibah
76.25%
Lennox Head
73.98%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.