In NSW, there are two real estate licence classes, and here we look at the difference between Class 1 and Class 2 real estate licences.
Class 1 vs class 2 real estate license
The best way to think of the Class 1 vs. Class 2 real estate licences is in terms of what each one authorises you to do.
A Class 2 real estate licence will authorise you to buy and sell commercial and residential properties. You’ll also be able to manage owners’ corporations and rental properties; however, you won’t be able to open or manage your own agency or administer a real estate trust account. For that, you need a Class 1 licence.
In order to qualify for a Class 2 real estate licence, you need to complete the Certificate IV in Real Estate Practice (CPP41419) course, which consists of 18 study units. At Entry Education, we find that most students are able to complete the real estate licence classes required for their Certificate IV in two or three weeks.
If you have higher aspirations and see yourself running your own real estate agency, you need a Class 1 real estate licence.
A Class 1 licence requires you to complete the Diploma of Property – Agency Management (CPP51119) course. This requires you to complete 12 study units. But in order to enrol, you must already have a Class 2 real estate licence.
After earning your Diploma of Property, you’ll be ready to apply for the NSW Class 1 real estate licence, which will enable you to operate an agency and a real estate trust account.
Real estate license classes
Perhaps the easiest way to think of the Class 1 vs. Class 2 real estate licence is to see the difference as two levels of the same job.
While a Class 2 real estate licence will enable you to work in the property industry as an employee, the Class 1 real estate licence will qualify you to run your own business. If you’re ambitious and want to get to the top of the real estate industry in NSW, you’ll need your Class 1 licence.
The difference between class 1 and class 2 real estate licences should be clear now, right?
Whichever class of NSW real estate licence you’re aiming for, it’s important that you enrol and study with a Registered Training Organisation (RTO). Once you complete your training program, you’ll undertake assessment. Then, when you pass with flying colours, of course, you’ll take your certificate of completion to Fair Trading NSW and be issued with your real estate licence.
Come and see what we have to offer
At Entry Education, we train both Class 1 and Class 2 real estate students. Whichever licence you choose to study, you’ll be training with one of Australia’s leading real estate institutes.
We continually invest in our online courses because we care about our students. Providing optimal online learning, for us, is about more than creating the right content. Our tutors are fine teachers and great listeners, and Entry students don’t fall between the cracks.
If you’d like to study for your real estate licence in a supportive online environment, we’d love to hear from you. Contact us at Entry Education now to learn more about the differences in real estate license courses, and how you can get started on your career pathway. We promise we care.