In NSW, real estate agencies are required by law to maintain a training register to document their employees’ training and professional development activities.
The training register must include information on the:
- type of training or development activity
- date it was completed
- activity’s duration, and
- training provider’s name.
Real Estate Agents and Property Managers must complete several hours of continuing Professional Development (CPD) each year to maintain their licenses.
If you’re a property agent who holds a class 1 licence, class 2 licence or a certificate of registration, you must complete the CPD specified for your licence or certificate category each year.
Holders of multiple licences must complete a minimum of 3 compulsory topics for each type of licence held.
A full list of the CPD hours required can be found on NSW Fair Trading website.
The training register helps agencies ensure their employees meet these requirements and stay up-to-date with changes in legislation and industry best practices.
It also records employees’ skills and knowledge, which can be helpful for performance evaluation and career development.
Not only that, failure to comply with your CPD requirements may result in the suspension or cancellation of your licence or certificate.
It’s not just for your CPD, and it’s important to add what you will do throughout the year.
Wait, we can help!
Did you know we offer workflow training for software?
We also can send out certificates for training so you can be compliant across all things Real Estate.
Get in touch with us if you’d like a review of all things workflow training and software.
Jane Morgan is the Director of End of Month Angels, a consultancy firm specialising in Trust Accounting. Jane knows the legislative requirements of running a successful Real Estate office through her 27 years’ industry experience. Don’t trust just anyone with your trust accounting. Book an appointment with an End of Month Angel today.