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More than 14,000 assistant agents across NSW could be kept in the property industry thanks to a one-off registration extension.
NSW Fair Trading has issued a statement explaining it has offered assistant agents the opportunity to apply for an extension to their certificate of registration.
Set to apply to assistant agents in real estate, stock and station, and strata management, the extension will provide them with another 12 months to complete their training and continue working while they finish their qualifications.
According to Fair Trading, it will also ensure that residential tenants and landlords continue to receive vital property management services.
It comes off the back of substantial reforms being introduced to the Property and Stock Agents Act 2002 back in March 2020, which put nearly 22,500 assistant agents on four-year certificates until 22 March 2024.
Now, these agents are able to apply for a one-off extension from 1 March 2024 to 22 June 2024.
Fair Trading has stated that agents must be enrolled in either their Certificate IV in Real Estate Practice (CPP41419) or Certificate IV in Strata Community Management (CPP40516 or CPP40521) to apply for an extension.
In NSW, assistant agents require a certificate of registration to start work, with assistant agent roles considered as entry-level positions to gain the experience and training required to apply for a class 2 agent’s licence.
In the past, assistant agents were unable to renew their certificates and would have to wait one year before reapplying for a new certificate.
The regulator has warned that any assistant agents who fail to meet the deadline and continue to work without a certificate could face on the spot fines of $1,100 from NSW Fair Trading or court-issued fines of up to $11,000.
In addition, anyone caught employing someone without the required registration could face the same maximum penalty.
Therefore, licensees in charge and employers who do oversee and manage assistant agents have been encouraged to help their team members with upskilling before their certificates expire. Alternatively, they can apply for the 12-month extension.
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