Starting a career as a real estate agent is always exciting and handsomely rewarding due to the jobs nature, but just having an interest in that field is not enough. This industry requires an in-depth knowledge of market trends and several years of training leading to certifications for the person to practice it. An agent can apply for his personal license or work under a licensed agency who acts as his representative.
The real estate licensing requirements include:
• Should be 18 years or over.
• Have successfully completed required training courses>.
• For personal license, you should have at least 12 months working experience under a licensed agent.
• For non-citizens, they should have a copy of their passport and visa that allows them to work in Australia.
You are unsuitable for holding a license if
• Have a past criminal history. It should be a serious offense that led to more than 3 years in prison. This includes arson, extortion, drug trafficking, fraud and dishonesty and violent offenses.
• He was an executive officer of a corporation that went insolvent and was previously licensed. He should be able to explain the exact cause, list items you had to distribute, total money paid as dividends and if you went against any laws relating to this issue.
• He was a victim of an acknowledged claim fund action.
• Have an undesired character or character of your associates.
• Have been suspended or canceled from holding the license.
• Have been disqualified from holding a company director position.
• He is incapable of successfully doing the jobs requirements.
• If you are not allowed to work in Australia.
The person is then required to pay a small fee for lodging of license form. The form is accompanied by original certified identification documents as well as proof of your qualifications. All your business address locations should be registered; the worker at the principle place of business will provide all addresses. On submitting the relevant documents, a mandatory criminal check will be started. This will take approximate 4 days.
When you have successfully complied with real estate salesperson license requirements, your license will start being processed. Missing documents or unpaid fees will slightly delay the process; you will be contacted in case of such event. When unfortunate events like withdrawal of application or refusal to the application, you are entitled to a partial refund. It is a punishable offense if you knowingly make a misleading or false statement which goes against commercial real estate license requirements.
Upon receiving your license, you are allowed to start your career immediately. Authorized activities include;
• Managing or owning a real estate agency
• Negotiating as a mediator on behalf of sellers, buyers, landlords or renting of houses.
• Marketing and showing properties to potential buyers
• Managing an apartment by collecting its rent or selling any unit independently
• Assessing and inspecting property for sale
• Opening and managing a trust account on behalf of buyers and sellers
For persons at entry level, they usually go through a short course that qualifies them to work with registered agencies. At this position, they learn the tricks and ways of handling this challenging adventure as they gain valuable experience. The representative will be watched and guided closely by the licensed agent till he reaches a pro level.