You’ll need a real estate licence to work in NSW as a real estate agent, but it’s a little more involved than just acquiring that single licence.
In NSW, there are two types of real estate licences – Class 1 and Class 2. To apply for a Class 1 real estate licence you first need to work as a Class 2 real estate agent for two years. Over those two years, you’ll work in the industry and build your skills and knowledge.
One more thing. You won’t be able to work as a Class 2 real estate agent unless you’ve completed the assistant agent course and had 12 months industry experience. This entry-level course is composed of five core units and was previously called the Certificate of Registration. It will qualify you to work in property management, sales and other client-focused roles. Find out more about how to become a real estate agent in NSW, and how to become a Class 2 real estate agent in NSW.
Now let’s get back to how to get a Class 1 real estate licence. To be eligible for a Class 1 licence you need to complete the Diploma of Property – Agency Management (CPP51119), which qualifies you to work independently and act as a licensee in charge (also called an LIC).
An LIC can conduct transactions that are paid in and out of the agency’s trust account. It also means they can work as a real estate principal, strata management principal, an agency manager and agency director.
What you can’t do as a Class 1 and Class 2 real estate agent is conduct auctions. For that, you need to become an accredited auctioneer.
But don’t dismiss auctioneering because you can act as a Class 1 real estate agent who auctions their own listings if you complete your Class 1 licence course and follow it up with the Auctioneer Accreditation course.
Let’s look at how to get a Class 1 real estate licence
The Class 1 real estate licence course is composed of 12 units of study and you must complete seven core units and five electives from the following list.
- CPPREP5001 Manage compliance in the property industry
- CPPREP5002 Establish and monitor property industry trust account management practices
- CPPREP5003 Manage ethical practice in the property industry
- CPPREP5004 Manage a safe workplace in the property industry
- CPPREP5005 Manage teams in the property industry
- CPPREP5006 Manage operational finances in the property industry
- CPPREP5007 Develop a strategic business plan in the property industry
- BSBADV507 Develop a media plan
- BSBLDR414 Lead team effectiveness
- BSBPEF501 Manage personal and professional development
- BSBOPS502 Manage business operational plans
- BSBLDR522 Manage people performance
Once you’ve completed the course and have your paperwork sorted, you can apply for your Class 1 Real Estate Licence NSW from Fair Trading NSW. It takes 30 business days for Fair Trading to process an application for a real estate licence. If you have a current and equivalent licence from another state or territory, including New Zealand, you can apply to Fair Trading to work in NSW.
Your professional training doesn’t end with your Class 1 real estate licence. Each year you’re required to do nine hours of continued professional development (CPD) training, including three hours of compulsory topics. But be aware that CPD for Class 2 and Class 1 real estate licences are not the same.
Your Class 1 real estate course must be provided by a registered training organisation (RTO), such as Entry Education. As Australia’s leading real estate institute, Entry provides high-quality courses in NSW and most other states.
For many real estate students considering how to get a Class 1 real estate licence, Entry Education is their number one choice because they know there’s strong student support and top-level tutors. But good real estate training needs to do more than provide convenient online learning, and this is where Entry really excels. They have support available that you don’t know you need until you need it, and they don’t allow students to fall through the cracks. Many past students have noted the incredible level of support they received while juggling work and study with Entry Education.
You know a learning institute is a genuine success when it’s grown organically from word of mouth and student recommendations – and that’s why Entry Education is the success story it is today. They care about students and measure their own success by their students’ accomplishments. Want to hear some student feedback? You can check out what students are saying in our reviews.
How long does the Class 1 real estate licence course take?
On average, students complete the assessments in four to eight weeks, but there’s no pressure to complete the course in that timeframe. There are no due dates for individual assignments and you can work at your own pace without pressure to meet deadlines.
Along the way, your assessments are marked and returned to you in three to five business days. If you need assistance or support, your online tutor is available both in- and out-of-office hours. And it’s true. At Entry, you can contact your tutor at 10 pm, or even later, if you have questions or need help.
What is recognition of prior learning (RPL)?
RPL takes into consideration your past qualifications, skills, work and life experience. An RPL assessment will analyse your skills and experience and then grant you credit towards a new qualification, such as a Class 1 real estate licence NSW.
RPL makes formal qualifications more accessible to people who are already in the workplace. It takes into account the skills and experience acquired in past jobs, as well as life experience, regarding them as valuable assets that can reduce the time you spend learning a similar or related skill to qualify for a new role.
If you can demonstrate relevant past experience and qualifications, Entry Education can fast track your real estate licence.
How to claim RPL
When you enrol in your Diploma of Property – Agency Management (CPP51119), also known as your Class 1 licence course, a checklist is provided. It contains examples of workplace documentation that can be aligned to Class 1 course requirements. Remember that you must provide evidence for any RPL credits you apply for.
While it can feel like a lot of effort to apply for RPL, it’s worth it because it ensures you don’t spend time studying things you already know. And if you’re busy juggling work and study that’s a gift, right! Find out more about RPL for Class 1 licence.
Are you eligible for government funding when you study your Class 1 licence?
You’re eligible for financial assistance if you can satisfy four requirements. You need to be an Australian citizen, or permanent resident, and be aged between 45 and 70 years, plus a couple of other requirements you can find here.
Currently, you or your employer will need to match the government contribution up to $2,200, including GST.
Is Entry Education a registered training organisation (RTO)?
Indeed it is! Entry Education is RTO 41529, and its training courses are compliant with all legislative and regulatory training requirements.
So there it is. We’ve given you lots to think about when considering how to get a Class 1 real estate licence. If you want to work independently, in more senior roles or run your own agency in NSW, you will need a Class 1 real estate licence – and the best time to do that is now.