1 Name of Order
This Order is the Property, Stock and Business Agents (Qualifications) Order 2003.
2 Commencement
This Order commences on 1 September 2003.
3 Definitions
(1) In this Order:registered training organisation has the same meaning as registered provider in the Vocational Education and Training Accreditation Act 1990.the Act means the Property, Stock and Business Agents Act 2002.the repealed Act means the Property, Stock and Business Agents Act 1941.(2) Notes included in this Order do not form part of this Order.
4 Qualifications
(1) For the purposes of section 15 (1) of the Act, the qualifications set out in Schedule 1 are approved for eligibility to hold a licence as set out in Schedule 1.(2) For the purposes of section 15 (1) of the Act, the qualifications set out in Schedule 2 are approved for eligibility to hold a certificate of registration as set out in Schedule 2.Note—Clause 4 of Schedule 1 to the Act provides for an application for a licence or a certificate of registration that was pending immediately before the repeal of the repealed Act.
5 Underpinning knowledge based on New South Wales law
The underpinning knowledge for a unit of competency from the Property Development and Management Training Package (PRD01) must be based on New South Wales law for the unit of competency to be included in a qualification approved by this Order.
Schedule 1 Qualifications approved for licences
(Clause 4 (1))
1 Existing licence
A person who held, immediately before the repeal of the repealed Act, a licence under that Act has approved qualifications for the issue of a corresponding licence under the Act.
2 Qualifications and experience approved under the repealed Act
(1) This clause applies:(a) in the case of a licence applied for before 1 January 2007—to any applicant, and(b) in the case of a licence applied for on or after 1 January 2007—only to an applicant who holds a corresponding licence to the licence applied for when the application is made.(2) A person who attained, before the repeal of the repealed Act, the qualifications and experience that were necessary immediately before the repeal of the repealed Act for the issue of a licence under that Act has approved qualifications for the issue of a corresponding licence under the Act.
3 Transitional arrangements in respect of real estate agent’s licence
(1) This clause applies:(a) in the case of a licence applied for before 1 January 2007—to any applicant, and(b) in the case of a licence applied for on or after 1 January 2007—only to an applicant who holds a corresponding licence to the licence applied for when the application is made.(2) A person has approved qualifications for the issue of a real estate agent’s licence if:(a) the person has satisfied the requirements for the conferral by a registered training organisation of the Diploma in Business (Real Estate Management) and, in the course of doing so, has completed any 2 electives from the National Real Estate Curriculum, and(b) the person has been the holder of a certificate of registration for not less than 2 years.(3) A person has approved qualifications for the issue of a real estate agent’s licence if the person has been the holder of a certificate of registration for not less than 2 years, has satisfied the requirements for the conferral by the TAFE Commission of the Diploma of Property (Real Estate) and, in the course of so satisfying the requirements, has demonstrated competency in all of the following units of competency:(a) PRD01 Unit of Competency PRDRE08A—Manage efficient financial systems,(b) PRD01 Unit of Competency PRDRE09A—Implement and monitor financial management systems,(c) PRD01 Unit of Competency PRDRE10A—Manage agency risk,(d) PRD01 Unit of Competency PRDRE11A—Provide property appraisal,(e) PRD01 Unit of Competency PRDRE13A—Obtain property listings,(f) PRD01 Unit of Competency PRDRE14A—Market property,(g) PRD01 Unit of Competency PRDRE15A—Undertake property sale by private treaty,(h) PRD01 Unit of Competency PRDRE16A—Monitor sales process,(i) PRD01 Unit of Competency PRDRE18A—Lease property,(j) PRD01 Unit of Competency PRDRE19A—Provide property management services,(k) PRD01 Unit of Competency PRDRE23A—Maintain agency:client relationship,(l) PRD01 Unit of Competency PRDRE26A—Conduct property sale by auction,(m) PRD01 Unit of Competency PRDRE28A—Maintain trust account,(n) PRD01 Unit of Competency PRDRE35A—Communicate effectively and accurately with clients,(o) PRD01 Unit of Competency BSXFMI511A—Contribute to the development of a workplace learning environment.(4) A person has approved qualifications for the issue of a real estate agent’s licence if the person has satisfied the requirements for the conferral by the University of Technology, Sydney, of the Bachelor of Property Economics and has been the holder of a certificate of registration for not less than 2 years.(5) A person has approved qualifications for the issue of a real estate agent’s licence if:(a) the person has satisfied the requirements for the conferral by a registered training organisation of the Advanced Diploma of Property (Valuation) 8308, and(b) the person has been the holder of a certificate of registration for not less than 2 years.
4 Approved qualifications in respect of a real estate agent’s licence
A person has approved qualifications for the issue of a real estate agent’s licence if the person has been issued by a registered training organisation with a statement of attainment or a qualification demonstrating competency in all of the following units of competency and modules:(a) PRD01 Unit of Competency PRDRE08A—Manage efficient financial systems,(b) PRD01 Unit of Competency PRDRE09A—Implement and monitor financial management systems,(c) PRD01 Unit of Competency PRDRE10A—Manage agency risk,(d) PRD01 Unit of Competency PRDRE11A—Provide property appraisal,(e) PRD01 Unit of Competency PRDRE13A—Obtain property listings,(f) PRD01 Unit of Competency PRDRE14A—Market property,(g) PRD01 Unit of Competency PRDRE15A—Undertake property sale by private treaty,(h) PRD01 Unit of Competency PRDRE16A—Monitor sales process,(i) PRD01 Unit of Competency PRDRE18A—Lease property,(j) PRD01 Unit of Competency PRDRE19A—Provide property management services,(k) PRD01 Unit of Competency PRDRE23A—Maintain agency:client relationship,(l) PRD01 Unit of Competency PRDRE26A—Conduct property sale by auction,(m) PRD01 Unit of Competency PRDRE28A—Maintain trust account,(n) PRD01 Unit of Competency PRDRE35A—Communicate effectively and accurately with clients,(o) PRD01 Unit of Competency BSXFMI511A—Contribute to the development of a workplace learning environment,(p) New South Wales Module 17319A—Work in the Real Estate Sector,(q) New South Wales Module 17319B—Prepare for work in property industry.
5 Approved qualifications in respect of a real estate agent restricted to acting only as buyer’s agent
A person has approved qualifications for the issue of a real estate agent’s licence subject to the condition that the holder of the licence act only as a buyer’s agent if the person has been issued by a registered training organisation with a statement of attainment or a qualification demonstrating competency in all of the following units of competency and modules:(a) PRD01 Unit of Competency PRDRE10A—Manage agency risk,(b) PRD01 Unit of Competency PRDRE11A—Provide property appraisal,(c) PRD01 Unit of Competency PRDRE15A—Undertake property sale by private treaty,(d) PRD01 Unit of Competency PRDRE16A—Monitor sales process,(e) PRD01 Unit of Competency PRDRE23A—Maintain agency:client relationship,(f) PRD01 Unit of Competency PRDRE35A—Communicate effectively and accurately with clients,(g) PRD01 Unit of Competency BSXFMI511A—Contribute to the development of a workplace learning environment,(h) New South Wales Module 17319A—Work in the Real Estate Sector,(i) New South Wales Module 17319B—Prepare for work in property industry,
6 Transitional arrangements in respect of stock and station agent’s licence
(1) This clause applies:(a) in the case of a licence applied for before 1 January 2007—to any applicant, and(b) in the case of a licence applied for on or after 1 January 2007—only to an applicant who holds a corresponding licence to the licence applied for when the application is made.(2) A person has approved qualifications for the issue of a stock and station agent’s licence if the person:(a) has satisfied the requirements for the conferral by a registered training organisation of the Diploma in Business (Real Estate Management) and, in the course of doing so, has completed Rural Sales ABH531 and any 1 elective from the Property Management or Sales streams from the National Real Estate Curriculum, and(b) has been the holder of a certificate of registration for not less than 2 years.(3) A person has approved qualifications for the issue of a stock and station agent’s licence if the person has been the holder of a certificate of registration for not less than 2 years and has satisfied the requirements for the conferral by the TAFE Commission of the Diploma of Property (Real Estate) and, in the course of so satisfying the requirements, has demonstrated competency in all of the following units of competency:(a) PRD01 Unit of Competency PRDRE08A—Manage efficient financial systems,(b) PRD01 Unit of Competency PRDRE09A—Implement and monitor financial management systems,(c) PRD01 Unit of Competency PRDRE10A—Manage agency risk,(d) PRD01 Unit of Competency PRDRE11A—Provide property appraisal,(e) PRD01 Unit of Competency PRDRE23A—Manage agency:client relationship,(f) PRD01 Unit of Competency PRDRE28A—Maintain trust account,(g) PRD01 Unit of Competency PRDRE35A—Communicate effectively and accurately with clients,(h) PRD01 Unit of Competency PRDSSA20A—List properties for sale,(i) PRD01 Unit of Competency PRDSSA21A—Market property for sale,(j) PRD01 Unit of Competency PRDSSA22A—Negotiate sale by private treaty,(k) PRD01 Unit of Competency PRDSSA23A—Conduct auction sale,(l) PRD01 Unit of Competency PRDSSA24A—Conduct chattel auction/clearing sale,(m) PRD01 Unit of Competency PRDSSA25A—Conduct a sale by tender,(n) PRD01 Unit of Competency PRDSSA26A—Administer process to completion or abandonment of sale,(o) PRD01 Unit of Competency PRDSSA27A—Lease rural property,(p) PRD01 Unit of Competency PRDSSA28A—Manage properties for clients,(q) PRD01 Unit of Competency PRDSSA29A—Advise client on sale and purchase alternatives,(r) PRD01 Unit of Competency PRDSSA30A—Select stock for sale,(s) PRD01 Unit of Competency PRDSSA31A—Prepare stock for sale,(t) PRD01 Unit of Competency PRDSSA32A—Conduct livestock sale by auction,(u) PRD01 Unit of Competency PRDSSA33A—Arrange buyer and inspections,(v) PRD01 Unit of Competency BSXFMI511A—Contribute to the development of a workplace learning environment.(4) A person has approved qualifications for the issue of a stock and station agent’s licence if the person has satisfied the requirements for the conferral by the University of Technology, Sydney, of the Bachelor of Property Economics and has been the holder of a certificate of registration for not less than 2 years.
7 Approved qualifications in respect of a stock and station agent’s licence
A person has approved qualifications for the issue of a stock and station agent’s licence if the person has been issued by a registered training organisation with a statement of attainment or a qualification demonstrating competency in all of the following units of competency and modules:(a) PRD01 Unit of Competency PRDRE08A—Manage efficient financial systems,(b) PRD01 Unit of Competency PRDRE09A—Implement and monitor financial management systems,(c) PRD01 Unit of Competency PRDRE10A—Manage agency risk,(d) PRD01 Unit of Competency PRDRE11A—Provide property appraisal,(e) PRD01 Unit of Competency PRDRE23A—Manage agency:client relationship,(f) PRD01 Unit of Competency PRDRE28A—Maintain trust account,(g) PRD01 Unit of Competency PRDRE35A—Communicate effectively and accurately with clients,(h) PRD01 Unit of Competency PRDSSA20A—List properties for sale,(i) PRD01 Unit of Competency PRDSSA21A—Market property for sale,(j) PRD01 Unit of Competency PRDSSA22A—Negotiate sale by private treaty,(k) PRD01 Unit of Competency PRDSSA23A—Conduct auction sale,(l) (Repealed)(m) PRD01 Unit of Competency PRDSSA25A—Conduct a sale by tender,(n) PRD01 Unit of Competency PRDSSA26A—Administer process to completion or abandonment of sale,(o) PRD01 Unit of Competency PRDSSA27A—Lease rural property,(p) PRD01 Unit of Competency PRDSSA28A—Manage properties for clients,(q) PRD01 Unit of Competency PRDSSA29A—Advise client on sale and purchase alternatives,(r) PRD01 Unit of Competency PRDSSA30A—Select stock for sale,(s) PRD01 Unit of Competency PRDSSA31A—Prepare stock for sale,(t) PRD01 Unit of Competency PRDSSA32A—Conduct livestock sale by auction,(u) PRD01 Unit of Competency PRDSSA33A—Arrange buyer and inspections,(v) PRD01 Unit of Competency BSXFMI511A—Contribute to the development of a workplace learning environment,(w) New South Wales Module 17320A—Work in the Stock & Station Sector,(x) New South Wales Module 17319B—Prepare for work in property industry.
8 Suitably qualified accountants qualified, for limited time, for issue of a business agent’s licence
(1) This clause applies:(a) in the case of a licence applied for before 1 January 2007—to any applicant, and(b) in the case of a licence applied for on or after 1 January 2007—only to an applicant who holds a corresponding licence to the licence applied for when the application is made.(2) A person has approved qualifications for the issue of a business agent’s licence if the person:(a) is a member of CPA Australia who is entitled to use the letters “CPA” or “FCPA”, or(b) is a member of The Institute of Chartered Accountants in Australia who is entitled to use the letters “CA” or “FCA”, or(c) is a member of the National Institute of Accountants who is entitled to use the letters “FPNA”, “MNIA” or “PNA”.
9 Transitional arrangements in respect of business agent’s licence
(1) This clause applies:(a) in the case of a licence applied for before 1 January 2007—to any applicant, and(b) in the case of a licence applied for on or after 1 January 2007—only to an applicant who holds a corresponding licence to the licence applied for when the application is made.(2) A person has approved qualifications for the issue of a business agent’s licence if the person:(a) has satisfied the requirements for the conferral by a registered training organisation of the Diploma in Business (Real Estate Management) and, in the course of doing so, has completed Selling Businesses ABH530 and Selling Commercial and Industrial Property ABH529 from the National Real Estate Curriculum, and(b) has been the holder of a certificate of registration for not less than 2 years.(3) A person has approved qualifications for the issue of a business agent’s licence if the person has been the holder of a certificate of registration for not less than 2 years and has satisfied the requirements for the conferral by the TAFE Commission of the Diploma of Property (Real Estate) and, in the course of so satisfying the requirements, has demonstrated competency in all of the following units of competency:(a) PRD01 Unit of Competency PRDBB03A—Appraise business,(b) PRD01 Unit of Competency PRDBB04A—List business for sale,(c) PRD01 Unit of Competency PRDBB05A—Promote and market listed businesses,(d) PRD01 Unit of Competency PRDBB06A—Negotiate and execute sales,(e) PRD01 Unit of Competency PRDRE08A—Manage efficient financial systems,(f) PRD01 Unit of Competency PRDRE09A—Implement and monitor financial management systems,(g) PRD01 Unit of Competency PRDBB9A—Manage agency risk,(h) PRD01 Unit of Competency PRDRE23A—Maintain agency:client relationship,(i) PRD01 Unit of Competency PRDRE28A—Maintain trust account,(j) PRD01 Unit of Competency PRDRE35A—Communicate effectively and accurately with clients,(k) PRD01 Unit of Competency BSXFMI511A—Contribute to the development of a workplace learning environment.(4) A person has approved qualifications for the issue of a business agent’s licence if the person has satisfied the requirements for the conferral by the University of Technology, Sydney, of the Bachelor of Property Economics and has been the holder of a certificate of registration for not less than 2 years.
10 Approved qualifications in respect of a business agent’s licence
A person has approved qualifications for the issue of a business agent’s licence if the person has been issued by a registered training organisation with a statement of attainment or a qualification demonstrating competency in all of the following units of competency and modules:(a) PRD01 Unit of Competency PRDBB03A—Appraise business,(b) PRD01 Unit of Competency PRDBB04A—List business for sale,(c) PRD01 Unit of Competency PRDBB05A—Promote and market listed businesses,(d) PRD01 Unit of Competency PRDBB06A—Negotiate and execute sales,(e) PRD01 Unit of Competency PRDRE08A—Manage efficient financial systems,(f) PRD01 Unit of Competency PRDRE09A—Implement and monitor financial management systems,(g) PRD01 Unit of Competency PRDBB9A—Manage agency risk,(h) PRD01 Unit of Competency PRDRE23A—Maintain agency:client relationship,(i) PRD01 Unit of Competency PRDRE28A—Maintain trust account,(j) PRD01 Unit of Competency PRDRE35A—Communicate effectively and accurately with clients,(k) PRD01 Unit of Competency BSXFMI511A—Contribute to the development of a workplace learning environment,(l) New South Wales Module 17322A—Work in the Business Broking Sector,(m) New South Wales Module 17319B—Prepare for work in property industry.
11 Transitional arrangements in respect of strata managing agent’s licence
(1) This clause applies:(a) in the case of a licence applied for before 1 January 2007—to any applicant, and(b) in the case of a licence applied for on or after 1 January 2007—only to an applicant who holds a corresponding licence to the licence applied for when the application is made.(2) A person has approved qualifications for the issue of a strata managing agent’s licence if:(a) the person has satisfied the requirements for the conferral by a registered training organisation of the Diploma in Business (Real Estate Management) and, in the course of doing so, has completed Owners Corporation Legal Requirements ABH518 and Owners Corporation Management ABH519 from the National Real Estate Curriculum, and(b) has been the holder of a certificate of registration for not less than 2 years.(3) A person has approved qualifications for the issue of a strata managing agent’s licence if the person has satisfied the requirements for the conferral by the University of Technology, Sydney, of the Bachelor of Property Economics and has been the holder of a certificate of registration for not less than 2 years.
12 Approved qualifications in respect of a strata managing agent’s licence
A person has approved qualifications for the issue of a strata managing agent’s licence if the person has been issued by a registered training organisation with a qualification demonstrating successful completion of NSW Course No. 9674—Certificate IV in Property (Strata Management).
13 Transitional arrangements in respect of an on-site residential property manager’s licence
(1) This clause applies:(a) in the case of a licence applied for before 1 January 2007—to any applicant, and(b) in the case of a licence applied for on or after 1 January 2007—only to an applicant who holds a corresponding licence to the licence applied for when the application is made.(2) A person has approved qualifications for the issue of an on-site residential property manager’s licence if the person has successfully completed the following modules from the National Real Estate Curriculum—Real Estate Accounting ABH504, Real Estate Consumer Protection ABH508, and Residential Tenancies ABH412.(3) A person has approved qualifications for the issue of an on-site residential property manager’s licence if the person has satisfied the requirements for the conferral by the University of Technology, Sydney, of the Bachelor of Property Economics.
14 Approved qualifications in respect of an on-site residential property manager’s licence
A person has approved qualifications for the issue of an on-site residential property manager’s licence if the person has been issued by a registered training organisation with a statement of attainment or a qualification demonstrating competency in all of the following units of competency and module:(a) PRD01 Unit of Competency PRDRE10A—Manage agency risk,(b) PRD01 Unit of Competency PRDRE18A—Lease property,(c) PRD01 Unit of Competency PRDRE19A—Provide property management services,(d) PRD01 Unit of Competency PRDRE23A—Maintain agency:client relationship,(e) PRD01 Unit of Competency PRDRE25A—Respond to property enquiry,(f) PRD01 Unit of Competency PRDRE28A—Maintain trust account,(g) PRD01 Unit of Competency PRDRE35A—Communicate effectively and accurately with clients,(h) PRD01 Unit of Competency BSAFIN301B—Maintain daily financial records for accounting purposes,(i) PRD01 Unit of Competency BSXFMI511A—Contribute to the development of a workplace learning environment,(j) New South Wales Module 17319B—Prepare for work in property industry.
sch 1: Am 2005 (731), Sch 1 [1]–[3].
Schedule 2 Qualifications approved for certificates of registration
(Clause 4 (2))
1 Existing certificate of registration
A person who held, immediately before the repeal of the repealed Act, a certificate of registration under that Act has approved qualifications for the issue of a corresponding certificate of registration under the Act.
2 Qualifications approved under the repealed Act
(1) This clause applies:(a) in the case of a certificate of registration applied for before 1 January 2005—to any applicant, and(b) in the case of a certificate of registration applied for on or after 1 January 2005—only to an applicant who holds a corresponding certificate of registration to the certificate of registration applied for when the application is made.(2) A person who attained, before the repeal of the repealed Act, the education qualifications that were necessary immediately before the repeal of the repealed Act for the issue of a certificate of registration under that Act has approved qualifications for the issue of a corresponding certificate of registration under the Act.
3 Transitional arrangements in respect of certain certificates of registration
(1) This clause applies:(a) in the case of a certificate of registration applied for before 1 January 2005—to any applicant, and(b) in the case of a certificate of registration applied for on or after 1 January 2005—only to an applicant who holds a corresponding certificate of registration to the certificate of registration applied for when the application is made.(2) A person has approved qualifications for the issue of a certificate of registration (except a certificate of registration as a registered strata manager or registered community manager) if the person has successfully completed the following modules from the National Real Estate Curriculum—Real Estate Industry Overview ABH500, Introduction to Sales ABH501, Introduction to Property Management ABH502 and Real Estate Consumer Protection ABH508.(3) A person has approved qualifications for the issue of a certificate of registration (except a certificate of registration as a registered strata manager or registered community manager) if the person has satisfied the requirements for the conferral by a registered training organisation of the Advanced Diploma of Property (Valuation) 8308.
4 Transitional arrangements in respect of certificates as certain registered managers
(1) This clause applies:(a) in the case of a certificate of registration applied for before 1 January 2005—to any applicant, and(b) in the case of a certificate of registration applied for on or after 1 January 2005—only to an applicant who holds a corresponding certificate of registration to the certificate of registration applied for when the application is made.(2) A person has approved qualifications for the issue of a certificate of registration as a registered strata manager or registered community manager if the person has been issued by a registered training organisation with a statement of attainment or a qualification demonstrating the person has successfully completed the Trainee Strata Managing Agents Module.
5 Certificate of registration as a real estate salesperson
A person has approved qualifications for the issue of a certificate of registration as a real estate salesperson if the person has been issued by a registered training organisation with a statement of attainment or a qualification demonstrating the person has successfully completed the following unit of competency and modules:(a) PRD01 Unit of Competency PRDRE35A—Communicate effectively and accurately with clients,(b) New South Wales Module 17319A—Work in the Real Estate Sector,(c) New South Wales Module 17319B—Prepare for work in property industry.
6 Certificate of registration as a stock and station salesperson
A person has approved qualifications for the issue of a certificate of registration as a stock and station salesperson if the person has been issued by a registered training organisation with a statement of attainment or a qualification demonstrating the person has successfully completed the following unit of competency and modules:(a) PRD01 Unit of Competency PRDRE35A—Communicate effectively and accurately with clients,(b) New South Wales Module 17320A—Work in the Stock & Station Sector,(c) New South Wales Module 17319B—Prepare for work in property industry.
7 Certificate of registration as a business salesperson
A person has approved qualifications for the issue of a certificate of registration as a business salesperson if the person has been issued by a registered training organisation with a statement of attainment or a qualification demonstrating the person has successfully completed the following unit of competency and modules:(a) PRD01 Unit of Competency PRDRE35A—Communicate effectively and accurately with clients,(b) New South Wales Module 17322A—Work in the Business Broking Sector,(c) New South Wales Module 17319B—Prepare for work in property industry.
8 Certificate of registration as a registered strata manager or registered community manager
A person has approved qualifications for the issue of a certificate of registration as a registered strata manager or registered community manager if the person has been issued by a registered training organisation with a statement of attainment or a qualification demonstrating the person has successfully completed the following unit of competency and modules:(a) PRD01 Unit of Competency PRDRE35A—Communicate effectively and accurately with clients,(b) New South Wales Module 17321A—Work in the Strata Management Sector,(c) New South Wales Module 17319B—Prepare for work in property industry.
9 Certificate of registration as a registered on-site residential property manager
A person has approved qualifications for the issue of a certificate of registration as a registered on-site residential property manager if the person has been issued by a registered training organisation with a statement of attainment or a qualification demonstrating the person has successfully completed the following unit of competency and module:(a) PRD01 Unit of Competency PRDRE35A—Communicate effectively and accurately with clients,(b) New South Wales Module 17319B—Prepare for work in property industry.