If you are in Queensland, and you have ever considered a career in the real estate Industry, then you should also think about the process of legally getting a valid real estate license.
The Real Estate license gives you authority to legally do the following
- Allowed to own or run a real estate agency in Queensland
- The license allows you to advertise a property for either sale or rent.
- You can show houses or land to customers with the intention to sell or rent them out.
- You get the permission to manage trusts on behalf of your clients whether buyers or sellers.
- You get an authority to manage apartments, complexes and even sell individual houses without necessarily engaging experienced real estate agents.
- You are allowed to collect rent on behalf of your clients.
- You can negotiate on behalf of your clients who are either buying, selling or renting a property.
- You licensed to inspect property prior to sale or rent.
- A licensed real estate agent is allowed to open up a property for inspection prior to either a sale or renting.
In order to get the real estate license, that will allow you to legally do the above-mentioned things you are required to meet the following expectations, first to be illegible you must be above 18 years of age, and also need to take all the necessary training courses shown below and pass them. Validum Institute has an article on their website www.validum.edu.au about this matter.
- A course in Managing small business finances, coded as BSBSMB406.
- A course in property appraisal, the course code is CPPDSM4003A.
- A course in establishing and building the client agency relationships, coded as CPPDSM4005A
- Course in establishment and management of agency trust accounts, CPPDSM4006A.
- A course in the Identification of ethical and legal requirements in property management in order to complete agency work, coded as CPPDSM4007A.
- A course to help in Identification of the legal and ethical requirements necessary during property sales , the code is CPPDSM4008A .
- A course to Interpret legislation to facilitate completion of agency work , coded as CPPDSM4009.
- A course on properties leasing, with a course code of CPPDSM4010A
- A course in how to list properties meant for lease, with a course code of CPPDSM4011A
- A course in listing properties for sale, with a course code of CPPDSM4012A
- A course in marketing properties meant for lease, with a course code of CPPDSM4013A
- A course on how to Market properties meant for sale, with a course code of CPPDSM4014A
- A course about how to Minimize both agency and consumer risks, with a course code of CPPDSM4015B
- A course on monitoring and management of lease and tenancy agreements, with a course code of CPPDSM4016A
- A course on how to property reports are prepared and presented, with a course code of CPPDSM4018A
- A course on preparation for auction and how to complete sales, with a course code of CPPDSM4019A
- A course about Sales and how to finalize property sales by private treaty, with a course code of CPPDSM4022A
- A course on tenancy disputes management, with a course code of CPPDSM4046A
- A course on working in the real estate industry, with a course code of CPPDSM4080A
Wait, before you rush to enroll for these courses first check your suitability for qualification to hold the license. According to the government of Queensland you are unsuitable to hold the real estate agents license if;
- You have a criminal record and have committed a serious offence within the past five years, When applying for the real estate license in Queensland. you will be required to first undergo a crime history search. For example, the criminal history search reveals that you committed a serious offence like fraud within the past five years, then you are considered to be unsuitable to hold a real estate license in Queensland and cannot be granted the license even if you apply. A serious offence is considered to be any crime that leads to imprisonment of not less than three years, so this could be anything from sexual offences, to fraud, arson or violence among others. If you are a convicted criminal, this is not the end of the world, you are still be able to obtain a licence. Please read this to know more.
- You are an insolvent under administration. For example, bankrupts cannot get licensed.
- You are a disqualified license holder probably because your licence was canceled either due to inability to perform the role of a licencee adequately or because of your poor conduct or that of your associates.
- You are disqualified from being a company executive or officer.
The law also requires you to disclose whether you have ever been an executive of a company that was registered as real estate agency, and whether the company went into liquidation or receivership. You are also required to explain the circumstances that led to the liquidation or receivership of the company, and whether you did everything reasonably within your power to rescue the company. You should also disclose a number of assets that were available to distribute and how much dividends were paid, you will also be required to disclose whether you did anything illegal regarding the same and if you were disqualified from being an executive or officer.
You are also required to include a liquidator’s or receiver’s report that will include the detailed number of your creditors and the amount in debts you still owe those creditors.
Non-citizens are supposed to submit a certified copy of their passports and have a valid visa that allows them to work in Australia.
If you meet all the above requirements then you can breathe a sigh of relief, enroll for the necessary courses and download the application form from the Queensland government website here https://publications.qld.gov.au/dataset/0cff3f63-a284-4d52-9946-ced00ec443f3/resource/33d5e2d9-e85e-4610-940b-93f46a16b2a7/download/0475ftpomdcaf11v1securityenabled.pdf.
Once you have downloaded the 13-page application form you will be required to attach your Identification documents; either in Original copies or certified copies, which can be either your driving licence, birth certificate or it’s extract, a passport or a citizenship licence.
You are allowed to have multiple places of business which will have to be included in the application form. However, the person heading your head office must have a current individual’s real estate licence. In the other premises make sure to have either a licencee or a licensed real estate salesperson.
Lodging your license will incur certain fees
- A criminal history check fees of $39.00.
- A One year’s licence fees of $1377.30. or $2582.30 for a 3 years’ licence- which is the option I would recommend.
Kelvin, a friend of mine who had always had a desire to be a real estate agent from a very tender age he finished the courses last year now he is a practicing real estate agent and he told his total application cost was about 2612.30, he took the 3 years’ license option. Your licencing costs should be $1416.30 or $ 2612.30 depending on whether you opt for a year’s or a three years licence. Don’t forget to include your tuition and exam fees for the courses which will depend on where you choose to study from.
Processing your application should take between 4-6 weeks. However, it can take longer, if your application is found to contain insufficient information or if you have not paid in full, all the necessary fees. Kelvin told me his application took 5 weeks to be approved.