Compulsory training move for real estate agents

Real estate agent with couple. | Newsreel
New laws ensure real estate agents undertake ongoing training. | iStock

Queensland real estate and property agents will soon need to undergo compulsory ongoing training.

Agents currently need to undertake initial training to become registered or licensed, however there are no further training requirements to ensure they keep up with consumer expectations and agent obligations.

A new Bill introduced into State Parliament on March 21 amends the Property Occupations Act 2014 to require property agents to complete annual mandatory continuing professional development (CPD).

It will make CPD mandatory for real estate agents, real estate salespeople, property auctioneers and resident letting agents.

To renew their licence or registration, property agents will need to complete pre-set annual CPD requirements.

An Advisory Panel, including industry and community stakeholders, will be set up to provide advice on acceptable CPD sessions.

Real Estate Institute of Queensland CEO Antonia Mercorella said ongoing education was critical to ensure professionals kept up with complex and ever-changing legislation and lift the professional standards.

“When you consider the significant responsibilities bestowed on real estate professionals, including selling what’s often someone’s most valuable asset and managing trust accounts, it’s crucial that ongoing training requirements are imposed for consumer protection,” she said.