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NSW Compulsory CPD

2020 has seen major reforms to the regulation of real estate and property agents in New South Wales, including changes to the Continuing Professional Development (CPD) requirements.

Class 1 and Class 2 licence holders must complete a total of six hours of CPD training for the 2020 CPD year (23/03/2020 to 22/03/2021). For the 2020 CPD Year the six hours is comprised of three hours of Elective and three hours of Compulsory CPD training (with topics specified by NSW Fair Trading).

Harcourts Real Estate Training Centre is an approved provider to deliver all three compulsory topics. We have all three topics available as online courses, so that you can complete them when it suits you!

 

TOPIC 1

Real Estate Reforms

Understand the changes to the Property and Stock Agents Act 2002 that commenced in March 2020 under the Property, Stock and Business Agents Amendment (Property Industry Reform) Act 2018.

Satisfactory completion of this topic will count as 1 hour of CPD towards the compulsory learning topics required for the current CPD year.

Learning Outcomes:

1. Identify the key changes introduced as part of the 2020 reforms, including but not limited to:

  • qualification and training requirements (including career pathways and CPD)
  • Fair Trading’s enhanced compliance powers
    prescribed ‘material facts’ and agents’ disclosure obligations
  • the different classes of licence (class 1, 2 or Certificate of Registration) and types (real estate, strata, stock and station)
  • the functions permitted under each licence class and type
  • licence types and functions (real estate, strata, stock and station) including the consolidation of former licence categories into the real estate licence
  • the requirement for the licensee in charge to authorise trust account withdrawals, including reforms to ensure greater accountability over management of trust money.

TOPIC 2

Rules of Conduct

Overview the changes to the Rules of Conduct that commenced in March 2020 under the Property, Stock and Business Agents Amendment (Property Industry Reform) Act 2018 and Property, Stock and Business Agents Amendment Regulation 2019.

Satisfactory completion of this topic will count as 1 hour of CPD towards the compulsory learning topics required for the current CPD year.

Learning Outcomes:

1. Overview of main reforms

1.1 Demonstrate an understanding of the requirements of the rules of conduct.

1.2 Identify the key changes to the rules of conduct as part of the reforms, including but not limited to:

  • requirement for agents to pay rental income monthly
  • rules for the management of trust money, including the requirement to establish separate accounts for rental money and sales money
  • limitations on gifts and benefits that can be received by licence and certificate holders.

2. Rules applicable to individual participants

2.1 Identify the rules of conduct applicable to the individual participant’s licence class and type including but not limited to:

  • new application of rules to business broking transactions
  • requirements of assistant real estate agents and real estate agents when exercising the functions of a business or buyer’s agent or an onsite property manager
  • requirement to report suspected theft of livestock

 

TOPIC 3

Risk Management

Understand agent responsibilities to respond to and mitigate risks for occupants and managing risks that may arise within the property industry.

Satisfactory completion of this topic will count as 1 hour of CPD towards the compulsory learning topics required for the current CPD year.

Learning Outcomes:

1. Identify the primary occupancy risk for the various functions carried out by agents, including but not limited to:

  • residential sales
  • residential property management
  • commercial, retail and industrial sales
  • commercial, retail and industrial leasing
  • management of on-site residential complexes.

2. Identify potential sources of risks including but not limited to fire safety, swimming pools and risks arising from poor maintenance of a property.

3. Understand the responsibilities of an agent to mitigate safety risks to occupants through appropriate disclosures, maintenance and coordinating appropriate responses to identified risks.

 

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Frequently Asked Questions

E-learning:  You can access your online course and complete the module in your own time. Please note: You must complete all assessments within five days of purchase.

Please note NSW Fair Trading mandate that all CPD must be completed by 22nd March 2021. To fulfill this requirement, it is up to you to successfully complete by this date. Harcourts Real Estate Training Centre suggests you complete prior to this date in case you need to resubmit or redo any aspect of the assessment.

You will have an assessment to complete after you have read through learning module via the online platform (1 hour per topic). You will be required to review and read the provided learning material. Assessments may include a combination of Multiple Choice, True/False, Short Answers questions and scenarios.

All students will be required to complete an assessment and upon successful completion will be issued within 10 days a certificate of satisfactory completion. This course meets all of the requirements as stipulated by NSW Fair Trading for the completion of your Compulsory Continual Professional Development (CPD) under the new legislation requirements.

Upon registering you will be designated an NSW Licenced Agent (Assessor) who can help and assist you with any problems or questions you may have.

You can also access the support forum within the online platform. This forum will allow you to interact and engage will other participants and your Assessor.

You can also contact our Student Experience Team on 1300 024 401 or via email help@realestatetrainingcentre.com

Got Questions?

Submit the form below and someone from our Student Experience Team will be in touch!
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