A full real estate agent licence is required in Tasmania in order to transact in property whether buying or selling property.
Qualifications for Property Agents
Property agents are required, under Division 2, Sections 64-66, of the Act, to have qualifications before conducting a business as a real estate agent, property manager, or general auctioneer, or being employed by a real estate agent, or property manager.
The qualifications are primarily: –
Real estate agent (individual) – two years’ full-time experience as a property manager or property consultant during the previous five years and the prescribed educational qualification of a Diploma in Property (Real Estate) awarded by a registered training organisation.
Real estate agent (company) – must have at least one director who is a real estate agent.
Character and Repute
In order to satisfy the Board that he or she is a person of good character and repute the applicant must provide an original National
Police Certificate issued no more than 3 months prior to the date of lodging the application. Applicants must also provide two written references to attest to their good character, reputation and fitness to hold a licence.
Contained within the application form is a statutory declaration which requests applicants to disclose previous convictions, pending
proceedings and previous disqualifications among other things. The Registrar may request that an applicant attend an interview with the Board to determine whether he or she satisfies the requirements of the Act.
To apply for a real estate and business agent licence you must have passed the examinations for the following course:
Diploma of Property Services (Agency Management) CPP50307
REBAA Professional Standards
All members must be committed to certain standards as outlined in the REBAA Code of Conduct, which can be viewed in the “About” section of this website.
Starting your own Buyer’s Agency business
If you are intending to set up your own Buyer’s Agency, you would need a full real estate agent’s license – both for yourself as an individual, plus an agency licence for the company you will operate under. If you are currently a “registered” real estate agent, then you would need to undertake further study and apply to become a “fully licensed” real estate agent. The Real Estate Institute in your State plus TAFE and some private institutions run training courses.
In setting up your Buyer’s Agency, you would need to identify your market of buyers to tap into, and develop your own client service methodology, which would define your business offering. One of the main differences between a selling agent and a buyer’s agent is the reporting to clients – there are a lot more written reports provided to buyers, than to vendors, essentially to mitigate risk.
As with any new business, you would want to put together a Business Plan covering market entry and growth strategies; service offerings and pricing model; market research; marketing plan; operations plan; management plan; financial plan and analysis; risk analysis; research and development. This is particularly important if you are planning to approach the bank for seed capital.
As every state and territory has differing requirements for real estate it is essential you take the time to find out what is mandatory for your area and what regulation applies. The above information is intended as a guide only.