VIC Government proposal will make real estate training harder and more costly

PHOTO: Real Estate Agent study

The Victorian Government has proposed massive changes to the educational qualifications for the real estate industry, and time is running out to oppose them.

If made, these changes will require those planning to enter the industry to spend substantially more time and money gaining tertiary qualifications.

Potential ‘Agent Representatives’ will be impacted the most, now required to complete 18 units of the new Certificate IV in Real Estate Practice – currently they need only complete three units.

To qualify as an ‘Estate Agent’, you’ll need to do the aforementioned 18-unit Certificate IV in Real Estate Practice course, four additional units, plus a 12-unit Diploma of Property (Agency Management) course of 12 units. This almost doubles the unit-load.

The proposed regulations (made under the Estate Agents Act 1980), are intended to replace the Estate Agents (Education) Interim Regulations 2019.

“The proposed education requirements reflect significant changes to standards of competency for estate agents and agents’ representatives,” according to the proposal.

“These requirements draw on a new training package for the real estate industry that was developed following a national review.”