Table of Contents
- What Does a Real Estate Agent Do?
- How to become a registered real estate agent in Australia?
- How much do real estate agents earn in Australia?
Enthusiastic about being a real estate agent in Australia but do not know where to start and what prerequisites are needed?
Gough Recruitment’s team of real estate recruitment consultants are experts in understanding the expertise and personal traits required in this ever-growing industry.
If you are ready to step into this demanding environment, this article should help guide you on obtaining the correct qualifications and licences needed depending on state and territory, outline significant tasks and duties of a real estate agent, and expected salary.
What Does a Real Estate Agent Do?
A real estate agent works both Prospective buyers and sellers (also called vendors) to make the selling and purchase of properties and residences as effortless as possible. Real estate agents will look at the property value, compare similar sale prices in the region and then establish appropriate pricing for purchasing or selling a property.
Not every deal is straightforward. Real estate brokers are sometimes required to engage in lengthy negotiations to satisfy the requirements of all parties involved.
Real estate agents make money purchasing or selling a property, primarily working on a commission depending on the ultimate sale price.
To become a registered real estate agent in Australia, you need to take nationally recognised courses, go through a state licence exam, and fill out appropriate application forms.
Major tasks and duties can include;
Promote the sales of properties via open houses, brochures, online, and print listings.
- Seek out potential buyers and seek out vendors.
- Provide clients with legal requirements, market conditions, mortgages, pricing, and other associated matters, including maintenance, financing, building work, appraisals, and repairs.
- Accompany potential buyers to property inspections.
- Suggest a reliable network of solicitors, lenders and contractors to whom clients can be referred.
- Prepare documents and contracts, appraise properties, write vendor reports, facilitate settlements, and negotiate terms between buyers and sellers.
How to become a registered real estate agent in Australia?
To work as a real estate agent in Australia, you must have an approved post-secondary education, professional experience, and a licence. The conditions for obtaining a real estate agent's licence differ from state and territory in Australia.
We have outlined the different qualifications and prerequisites needed for each territory and state to kick start your career in real estate.
Before becoming a registered real estate agent in Queensland, you must meet specific training requirements and eligibility criteria before obtaining a licence to practice.
You can choose to undertake the Property Services Training Package (CPP07). This course 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.
The course can be completed at reputed institutions like Property Training Australia and REIQ. You will be assessed as competent in nineteen different units to qualify for a licence.
Your next step is to visit the Queensland Government's website to download an application form for a real estate agent licence once you are ready to submit your paperwork. You may deliver the completed form yourself at a Queensland Government Service Office or mail it to the Office Of Fair Trading.
You must show proof of formal identification and qualifications.
New South Wales (NSW)
NSW has strict eligibility requirements for real estate licences. Some standard requirements range from:
- Complete the real estate agent licence course — CPP40307 Certificate IV in Property Services (Real Estate).
- Ensure that you pay the relevant contribution to the Property Services Compensation Fund.
- Ensure that your primary place of work should be in New South Wales or within 50 kilometres of the NSW border.
- Gain at least 12 months of full-time employment experience under the supervision of a licensed real estate agent. This must be completed within three years after your application for a licence is accepted.
You must show identification documents to submit your application, including
- Qualifications documents.
- Proof of your professional indemnity insurance.
- Driver's licence.
Please note that your qualifications will determine whether you are allowed to apply to the government body regulator, Fair Trading NSW via Service NSW. Fair Trading NSW regulates the real estate industry throughout Sydney and New South Wales, and dictates the entry requirements.
The Consumer Affairs Victoria is responsible for managing real estate licencing in Victoria. You must meet the listed criteria below to be eligible to obtain a licence in real estate:
- Complete real estate agent course — Certificate IV in Property Services (CPP40307).
- Gain at least 12 months of full-time experience as an agent's representative in Victoria during the last three years before applying for a licence.
You can complete the real-estate agent course at REIV (Real Estate Institute of Victoria). To finish the application procedure, you must sign the appropriate form of consent and pass a national criminal background check. You will also be required to submit copies of your Victorian academic degrees, as well as certified identification documents.
South Australia (SA)
If you are looking to become a real estate agent and run your own business in South Australia, you will need to complete a Diploma of Property Services (Agency Management - CPP50307). This is the minimum requirement for obtaining a real estate licence in South Australia. The course involves completing twenty-four units, with additional units dedicated to real estate business management. You will learn the following;
- Marketing your agency
- Developing a strategic business plan
- Managing financial plans and budgets
- Managing people performance
You can complete the course mentioned above at My Real Estate Training or Real Estate Training Academy.
You can also visit the South Australia Government website to learn more about applying for a real estate agent licence in South Australia. Along with your application, you must also meet financial probity requirements and submit the required documents, including a national police certificate, identification and qualification documents.
Western Australia (WA)
Looking to work as a real estate agent in Western Australia? You will need a current triennial certificate and a real estate licence. This certificate is provided when your licence is first issued and then renewed every three years.
You must demonstrate that you have the financial means to run a real estate business to apply for a licence, which entails completing a confidential asset and liability declaration as well as running a credit check.
Other requirements include the following;
- Gaining at least two years of continuous full-time experience in the real estate sector before applying for a licence.
- Complete the Diploma of Property Services (Agency Management - CPP50307)
Download an application form by visiting the Department of Mines, Industry Regulation and Safety website. Once you have filled out the form and attached the supporting documents, you can submit the application by mail or in person at the Department's Cannington office. Your submitted documents must include a statement of experience, an Australian police check, evidence of your educational qualifications, and two references.
To be eligible for a real estate agent licence in Tasmania, you must undertake the following requirements;
- Gain two full-time years of experience as a property representative or property manager during your previous five years before completing your application.
- 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 the REIT (Real Estate Institute of Tasmania).
The Property Agents Board of Tasmania handles all real estate licensing applications. During your application submission, you must provide
- A National Police Record Check from Tasmania Police.
- Proof of your qualifications detailing your experience.
- Information about your professional indemnity insurance.
Australian Capital Territory (ACT)
If you are applying for a real estate agent licence in the Australian Capital Territory, you are required to notify the public about your intentions. You must meet the minimum criteria, including;
- Obtain 24 months of experience.
- Gain the required qualifications without being disqualified.
- Provide a police certificate from the Australian Federal Police.
You must complete and hold a Diploma of Property Services (CPP50307 - Agency Management). This can be undertaken via the REIACT (Real Estate Institute of the Australian Capital Territory).
Northern Territory (NT)
Before submitting for a real estate agent licence, you must announce your plan to apply in the Northern Territory News. After notifying, the public has 14 days to file an objection to your application.
You must also undergo a police and probity assessment and complete the Diploma of Property (CPP50307 - Agency Management) to be eligible for application.
You can apply for your licence at the Northern Territory Government website online, email or in person.
Please note that real estate agent licences in the NT are issued for one, three, or five years.
How much do real estate agents earn in Australia?
According to Payscale, salaries for real estate agents in Australia range between AU$39,000 and AU$107,000. Pay rates can vary depending on the state and territory you work in and the number of sales you close.
Now you are ready to fill out the application form and get your real estate agent licence.
However, if you want to make your application leap out in the real estate market, it pays to get expert advice from an experienced property and real estate recruitment agency.
Ready to take the plunge?
Whether you are looking for long-term or seasonal opportunities, we can represent you and ensure that your launch into your next real estate career is hassle-free.