The comprehensive review of the Real Estate Training Package has resulted in more robust qualifications for our industry, according to REINSW Training Manager Nerida Wood.

Ms Wood said the new package focussed on knowledge, as well as skills.

“The package we’ve been working under until now has largely focused on skills, rather than the foundation knowledge that agents need to underpin those skills," she said.

"And all units of competency will now have ethics and compliance as a core component of the learning.”

“This is a really positive step forward.”

Real Estate Training Package

The Real Estate Training Package sets out the training requirements for real estate qualifications across Australia.

“NSW Fair Trading applies the package for the purposes of specifying the units of competency required to attain a Certificate of Registration or Real Estate Licence in New South Wales,” Ms Wood explained.

“Training providers, such as REINSW, must then ensure that the units of competency specified by Fair Trading are covered in the delivery and assessment of the qualification courses they offer.”

Impact on training reforms

Ms Wood said the new Real Estate Training Package was the missing piece of the puzzle when it came to the long-awaited implementation of landmark training reforms in New South Wales.

“The training reforms were passed by NSW Parliament back in March 2018 and were originally slated for progressive implementation from 1 July 2018,” she said.

“That timeline was delayed and, to date, we’ve received little clarification from NSW Fair Trading about revised timelines.

“But, with the transition period for the new package coming to an end, we now have a final deadline for implementation of the reforms.”

The units of competency required by NSW Fair Trading to attain a Certificate of Registration or Real Estate Licence fall under the current package, not the new package.

“With the end of the transition period for the new Real Estate Training Package on 20 March 2020, those units of competency will no longer exist and can’t be trained or assessed after that date,” Ms Wood said.

“This means Fair Trading will need to change the units of competency required to attain a Certificate or Licence, so they meet the requirements of the new package.

“It effectively forces their hand in terms of implementing the training reforms.

"From 20 March 2020, REINSW (and all other training providers) must train the units of competency under the new training package. So if Fair Trading don’t update the units of competency to the new package and implement the training reforms, it means prospective new entrants to the industry will not be able to attain their Certificate or Licence.”

Start now

Ms Wood said real estate agents who don't currently have a Real Estate Licence should waste no time in obtaining it.

“There is a completely new structure for units of competency under the new Real Estate Training Package,” she said.

“The qualifications are more rigorous and in-depth and are not equivalent to the current qualifications.

"While there are fewer units of competency in the new qualifications, the time required to complete the training and assessment will be longer.”

Ms Wood added that, under the training reforms, all real estate agents will be required to transition to their Real Estate Licence.

“Soon it will no longer be an option to hold a Certificate of Registration for your entire career,” she said.

“You’ll be required to transition to your Real Estate Licence within a defined period. If you don’t, you’ll lose your certificate and be excluded from the real estate industry for 12 months.

“By transitioning to a Real Estate Licence before the commencement of the new Real Estate Training Package, it will be a more straightforward process to have current studies, skills and experience recognised.”

Ms Wood said agents needed to understand the impact of the training reforms and changes to the Real Estate Training Package.

“It’s vitally important for everyone in the industry to ensure they’re up to date with the changes, so they’re not left behind.

“REINSW will be with you every step of the way.”

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