If you want to climb the real estate career ladder, it’s a good idea to understand each step on the way to your success. Why? Because it might look like there are separate classes and categories of jobs, but they’re actually all interconnected.
For example, you may not want to be an auctioneer, but you’ll need to know the rules that govern auctioneering because some of your listings will be auctioned on a Saturday afternoon with you standing nearby.
One of your potential clients at a private house inspection might ask you what monthly rent they could expect if they purchased the property and put a tenant in it. While you may not be working in property management, they’ll expect you to know this – or at least have the property manager at your agency on speed dial so you can get an authoritative answer for them.
So before we ask ‘What is a Class 2 real estate licence?’ let’s look at some of the other roles that people have in a real estate agency.
The difference between Class 1 and Class 2 real estate licences in NSW
If you’re assuming that you’ll need to get your Class 2 real estate licence before you can get your Class 1 real estate licence, you’re correct. You have to complete the Class 2 real estate licence coursework, apply for your licence with Fair Work NSW and then work in the industry for at least two years before you’re eligible to enrol in a Class 1 course.
A Class 2 real estate agent can work in property sales, leasing and property management, owners’ corporations and more. But, as a Class 2 real estate agent, you can’t open or operate your own agency or operate a trust account. You also aren’t qualified to work as an auctioneer.
As a Class 1 real estate agent in NSW, you can work in senior roles including principal agent and agency director. You can also work as a licensee in charge (also known as an LIC), which authorises you to manage a real estate trust account. If you want to run your own real estate agency, this is the course you’ll need to complete.
To obtain your Class 2 real estate licence, you need to enrol in the Certificate IV in Real Estate Practice (CPP41419).
To obtain your Class 1 real estate licence, you need to enrol in the Diploma of Property – Agency Management (CPP51119).
Read about the difference between Class 1 and Class 2 real estate licences in NSW, or find out more about how to become a real estate agent in NSW.
I’m new to real estate, can I get my Class 2 real estate licence now?
Unfortunately, you can’t enrol for your Certificate IV in Real Estate Practice (CPP41419) if you’re new to the industry and coming in at entry level. First you need to complete the Assistant Agent (NSW) course. This consists of five core units and qualifies you to work in real estate sales, property management and other client-focused roles such as marketing and buyer’s advocacy. As an assistant agent, you work under the guidance of a licensed real estate agent for 12 months before you can apply to study for your Class 2 real estate licence.
The Certificate IV in Real Estate Practice (CPP41419) will provide you with the knowledge and skills to qualify as a Class 2 real estate agent. And if you complete your real estate course with Entry Education, you’ll have their professional support long after you complete your study. Their graduates become part of the Entry family.
What is a Class 2 real estate licence and are you ready to start?
The Class 2 real estate licence NSW can be completed within four to six weeks, although some students are able to complete it in less time. Whatever period of time you take to complete the Class 2 course, you’ll be under no pressure from your tutor at Entry Education. They will, however, keep in touch to ensure you’re okay and that your studies are progressing well.
The course is completed online and the coursework and assessments are entirely self-paced. Entry Education is a Registered Training Organisation (RTO No. 41529) and it’s renowned for its exceptional student support both in office hours and beyond them. That means you can phone your tutor at night if you need their help.
To be awarded your certificate of attainment, you need to complete 13 elective units of study from the following list. The core units are from the Assistant Agent course and don’t need to be repeated if you’ve already done them. You can select the electives yourself, depending on what area of work you want to specialise in.
When you’ve completed your course and have your certificate of attainment, you can apply to Fair Work NSW for your Certificate IV in Real Estate Practice.
- CPPREP4001 Prepare for professional practice in real estate
- CPPREP4002 Access and interpret ethical practice in real estate
- CPPREP4003 Access and interpret legislation in real estate
- CPPREP4004 Establish marketing and communication profiles in real estate
- CPPREP4005 Prepare to work with real estate trust accounts
Residential property sales
- CPPREP4101 Appraise property for sale or lease
- CPPREP4102 Market property
- CPPREP4103 Establish vendor relationships
- CPPREP4104 Establish buyer relationships
- CPPREP4105 Sell property
Residential property management
- CPPREP4121 Establish landlord relationships
- CPPREP4122 Manage tenant relationships
- CPPREP4123 Manage tenancy
- CPPREP4124 End tenancy
- CPPREP4125 Transact in trust accounts
Elective units (Select three of the following units)
- CPPREP4141 Establish and maintain property management portfolio
- CPPREP4142 Promote property management product and services
- CPPREP4161 Undertake pre-auction processes
- CPPREP4162 Conduct and complete sale by auction
- CPPREP4163 Complete post-auction processes and contract execution
- CPPREP4503 Present at hearings in real estate
- CPPREP4504 Deliver presentations to clients in real estate
- CPPREP4506 Manage offsite and lone worker safety in real estate
- BSBTWK301 Use inclusive work practices
Is recognition of prior learning (RPL) available?
If you satisfy the criteria for RPL, you can obtain recognition for your past qualifications, skills, work and life experience. This means you can be granted credit towards your Class 2 real estate licence NSW.
To find out if you’re eligible, fill out the checklist supplied by Entry Education when you enrol and provide evidence of your RPL. If you need any assistance with your claim for RPL, have a chat with one of the friendly staff at Entry.
Are you eligible for government funding when you study your class 2 licence?
There are four requirements you need to be eligible for government assistance.
- be an Australian citizen, or a permanent resident
- be between 45 and 70 years of age
- be currently or recently employed and not registered with an Australian Government services provider
- have completed a Skills Checkpoint assessment that identifies opportunities for training through the Older Workers Program.
The government’s contribution limit is currently $2,200 (including GST), and you or your employer would need to match the funded amount.
Want to know more about a Class 2 licence?
We’ve covered most of the answers to the question ‘What is a Class 2 real estate licence? But if you have any questions we haven’t covered, please contact the staff at Entry Education.
As Australia’s leading real estate institute, Entry Education has a reputation for providing the highest level of student support available. You might not have heard, but it’s also Australia’s happiest workplace. They love their work and their clients!