In this blog we explain the new proposed laws obliging QLD Real Estate Agents to perfom Continuing Professional Development (CPD). 

This video/blog is great for - QLD real estate agents who want to know about the proposed legal changes to mandatory Continuing Professional Development (CPD) for QLD Real Estate Agents - and how that will affect them doing their job! 

Prefer to watch/listen? Click here to consume this content via YouTube!

Hi everybody - George Sourris, Empire Legal.

Today's topic: Proposed Continuing Professional Development (CPD) for QLD Real Estate Agents.

I just wanted to start by shouting out the REIQ for providing this information that we are learning today. You can see the article here.

On the 21st of March 2024, there was a new Bill introduced into the Queensland Parliament. This Bill, amongst other things, introduces a framework for Continuing Professional Development (CPD) regime for all property agents in Queensland.

Property agents will be required to complete CPD every year.  CPD requirements will be determined by the Office of Fair Trading (OFT), as advised by a stakeholder advisory panel, including the REIQ.

These requirements will then be published on the OFT's website. Property agents will need to provide a statement to the OFT confirming what CPD requirements have been undertaken each CPD year when renewing a real estate license or registration. The REIQ has welcomed the introduction of a CPD regime for property agents in Queensland in line with other jurisdictions.

The REIQ has consistently lobbied in Queensland for CPD for property agents for over a decade.  

Now, please note: this proposed framework for the CPD regime is NOT YET LAW. At this stage, it's still a Bill that has to be passed in Queensland Parliament.

To ensure the voices of property agents in Queensland are heard, REIQ invites members to provide direct feedback in relation to the proposed framework and questions set out in their position statement. REIQ members are invited to provide their feedback to advocacy@reiq.com.au. Feedback will need to be provided by Friday the 5th of April 2024 to ensure it's considered.

So, if you're reading or watching this blog on its release date, Thursday 4th of April 2024, you have until tomorrow to give this feedback to the REIQ.  The REIQ will keep members up to date with the progress of the Bill and any future opportunities to give feedback. 

In order to become a licensed real estate agent or registered salesperson in Queensland, an individual must complete a nationally accredited training course and pass a range of rigorous background checks. However, once these initial education requirements are completed and the license or registration is granted, there is currently NO requirement for ANY further training or professional development, as long as that person's license or registration remains current. 

So, potentially a person who was granted a real estate agent's license or registration in Queensland in the 1970's could be operating today without ever having to undertake any further education.  And yet in the last 40 years, the laws governing real estate practitioners and protecting consumers has been amended frequently, and in some cases - very significantly.

It is important to note that although real estate practitioners are not required to be legal experts, in order to provide real estate services, it's essential that they are abreast of relevant legislation and any updates to the law. 

As well as knowledge of legal requirements, which are considered "technical skills", currently real estate agents are not required to keep their are other skills up to date, including those in communication, marketing, ethics, and business management.

REIQ have stated that they strongly believe CPD will be beneficial to the real estate profession and the Queensland public in the following ways: 

 1) Enable real estate practitioners to maintain and enhance the professionalism of the service they provide by ensuring they're up to date with their knowledge of existing laws. 

2) It will improve and increase awareness of regulatory and compliance obligations, resulting in fewer errors conducted by practitioners, and therefore a reduction in disciplinary proceedings. 

3) It will lead to an increase in consumer satisfaction as experienced in other Australian states. 

4) It will give consumers greater confidence in the sector.

5) It will result in fewer professional indemnity claims that are currently costing the Queensland community millions of dollars every year.

6) It will bring Queensland into line with the other states and territories that have already established a CPD program or are in the process of doing so; and

7) it will enhance the standards of professionalism amongst the real estate professionals.  

Compulsory CPD for real estate practitioners is already in place in a number of Australian states and territories, including New South Wales, Western Australia, Tasmania, Northern Territory and the ACT. 

In Queensland, lawyers are obliged to complete annual CPD in order to hold and renew our practicing certificates.  

Okay, so who does this CPD regime apply to?

This regime will apply to property agents that hold either a full licence or a registration certificate. Under the Property Occupations Act (2014) Queensland, property agent in Queensland includes: residential sales agents, property managers, residential letting agents, buyers agents, auctioneers, commercial sales and leasing agents, commercial property managers and business brokers.

Exceptions will apply in the first year that an individual holds a license or registration - meaning that if you've just entered the industry and become licensed, you're not obliged to complete CPD that year.

CPD Records. 

Property agents MUST keep a record of what CPD activities have been undertaken, and retain these records for a period of 5 years after the relevant CPD year.  If the property agent fails to comply with keeping a record or retaining records, the maximum of 10 penalty units will apply to each contravention, equaling $1,548. 

Commencement. 

It is intended that the Bill will commence 12 months after the date of assent - being the date that the Bill is assented to and becoming an Act.

I suggest if you have ANY specific queries regarding upcoming CPD for real estate, you contact the REIQ for guidance. Please click to read the article released by REIQ last month. 

What are your thoughts guys?

Please comment below, or leave your thoughts on the YouTube video in the comments section! 

If someone you know is a Queensland real estate agent or in the industry, please share this video.

Also, if you could like and/or subscribe, if this channel has added any value, we would really, really appreciate it.

Get in touch with us. Jump on our Instagram, our Facebook, our website.

George Sourris. Empire Legal.

If you have any questions, you can email me: george@empirelegal.com.au. 

If this has added value, please share this blog / the YouTube video with a friend. 

Thanks for reading everybody. See you on the next one.

Ladies and gentlemen, please keep in mind that all advice is general in nature and does not constitute legal advice. This is authorised by George Sourris, Empire Legal, Gold Coast, Queensland, Australia.

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Note: all information is general in nature and as each matter is unique please contact our office for tailored advices: the above does not constitute legal advice.