You’ll need a real estate licence to work in NSW as a real estate agent, but it’s a little more involved than just acquiring that single licence.
In NSW, there are two types of real estate licences – Class 1 and Class 2. To apply for a Class 1 real estate licence you first need to work as a Class 2 real estate agent for two years. Over those two years, you’ll work in the industry and build your skills and knowledge.
If you’re assuming that you’ll need to get your Class 2 real estate licence before you can get your Class 1 real estate licence, you’re correct. You have to complete the Class 2 real estate licence coursework, apply for your licence with the Office of Fair Trading and then work in the industry for at least two years before you’re eligible to enrol in a Class 1 course.
A Class 2 real estate agent can work in property sales, leasing and property management, owners’ corporations and more. But, as a Class 2 real estate agent, you can’t open or operate your own agency or operate a trust account.
Once you’ve completed your course, you need to register your certificate through the Queensland Department of Fair Trading to begin your new career in the real estate industry.
Please see the link below for further information and to register.
The best way to think of the Class 1 vs. Class 2 real estate licences is in terms of what each one authorises you to do.
A Class 2 real estate licence will authorise you to buy and sell commercial and residential properties. You’ll also be able to manage owners’ corporations and rental properties; however, you won’t be able to open or manage your own agency or administer a real estate trust account. For that, you need a Class 1 licence.
Once you have completed your course you will need to register your certificate with the Office of Trading via Service NSW (please see link below).