Auctions
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With under 50 days before the deadline for the current CPD year in NSW, you need to ensure that you have completed your Continuing Professional Development (CPD) requirements. If you are an Assistant Agent, you need to commence your licensing qualification, and complete up to 3 Units of Competency. If you a Class 1 or Class 2 agent, then you will need to complete 6 hours of CPD training, comprising 3 hours for the compulsory topics set by NSW Fair Trading and an additional 3 hours of Elective topics. At ACOP, you can complete these online, via interactive webinars, or by attending face-to-face training sessions at many venues throughout NSW.
Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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As per Section 31 of the Property and Stock Agents Act 2002, an individual must hold a class 1 licence to be in charge of a business. When we talk about the term ‘business’, this naturally means the agency that is offering property services to consumers. It also includes those agents who are working as Independent Contractors within an agency business. Therefore, someone who is an Independent Contractor (either as a Pty Ltd company, a partnership or as a sole trader) is running their own business within another business. This still means that the Independent Contractor needs to have a Class 1 licence, as they are in charge of a business.
Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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As we all now, masks are mandatory in Greater Sydney at the moment for many venues, which pretty much means if it’s indoors, then masks are mandatory. The most recent Public Health Order has nominated specific venues and also that if social distancing cannot be met, then masks become the alternative. When it comes to auctions and open homes, the NSW Government website is really clear about how to proceed with these. Check www.nsw.gov.au/covid-19/industry-guidelines/auctions-and-open-houses for specific information and easy proformas for Safety Plans for the real estate industry. For the past few months, real estate agents have been required to have a COVID-19 Safety Plan for every property that they have listed, in order to allow people to view or inspect a property to buy or rent it or to attend an auction. Even though there is a restriction in greater Sydney for only 5 visitors into a property, this is not the case for open homes and auctions. There can be more people viewing the property, but as an agent, you need to make sure that you are providing a safe environment.
Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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Following the changes to legislation in March 2020, all licensed agents must complete 6 hours of continuing professional development prior to 22nd March 2021 and all assistant agents who hold a Certificate of Registration must complete a minimum of 3 Units of Competency from the qualification required for their full property licence.
Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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Version 7 of the Public Health (COVID-19 Restrictions on Gatherings and Movement) Order has immediate changes to the limit of people permitted in holiday homes and short-term rentals with an increase from 20 people to a maximum of 50 people. There are further changes to the conduct of auctions and open-homes and property inspections, and also the requirements for COVID-19 Safety Plans for all listed properties.
Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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In the event of a disputed bid, the auctioneer is the sole arbitrator and the auctioneer’s decision is final. Many disputed bids occur because a registered bidder makes a bid just as the auctioneer is calling the property as ‘sold’. This is a very delicate timing issue because section 15(1)(g) of the Property and Stock Agents Regulation 2014 states that “a bid cannot be made or accepted after the fall of the hammer”. It is essential for agents and the auctioneer to firstly educate their bidders into the process and then provide plenty of time for them to make a final bid.
Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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Section 53F of the Property and Stock Agents Act states that there is a general prohibition on agents receiving or requesting gifts or benefits for themselves or for another person in circumstances that could reasonably be considered to give rise to a conflict of interest. However, this does not apply to anything provided by the agent’s employer, nor to anything provided as part of an agency agreement or as a gift of thanks from a client for services provided under the agency agreement, nor to anything of less than $60 in value. The legislation also requires principal licensee to maintain a register of gifts and benefits received by agents employed in the agency.
Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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If your corporation (ie Pty Ltd company) wants to conduct business in real estate, stock & station or strata management, it will need a corporation property licence. To be eligible for this licence, you need at least one director who holds a class 1 or class 2 property agent licence. If the Director does not hold the Class 1 licence or does not wish to be the nominated Licensee-in-Charge, then the corporation can employ a Class 1 licensed agent to be the Licensee-In-Charge. It is important to note the director and the Licensee-in-Charge must hold their licence in the same field of work the agency undertakes (ie real estate, stock & station or strata management).
Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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Please visit https://www.acop.edu.au for more information on our courses.
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In response to the impacts of COVID-19 on the property sector, the NSW government has extended the grace period for penalties under the Act and its regulations until 1 April 2021. Simply, this means that the regulator of the property industry, NSW Fair Trading, have given agents an additional six months to get their agencies in order and ensure their compliance with the amendments to the legislation and they will not be issuing penalty infringements during this “warn and educate” period.
Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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On 4th September 2020, Brad hazzard, Minster for Health and Medical Research announced that an exemption had been granted in relation to COVID-19 restrictions on gatherings and movement in respect to a place of residence. It stated that a person is exempt from the maximum 20 person requirement if they are at a place of residence for the purpose of viewing or inspecting the premises for the purposes of the sale or lease of that residence, or conducting or participating in an auction for that residence. Naturally, the exemption has the condition of requiring the occupier of that residence to take reasonably practical steps to ensure that the residence has and complies with a COVID-19 Safety Plan.
Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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When you review the Public Health Act and specifically the Public Health Order No 4 relating to COVID-19 for restrictions on gathering and movement, it is noted that outdoor gatherings are restricted to 20 people. However, also note that clause 18(3) details exemptions for gatherings for real estate purposes.
Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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Within the current economic climate, which is being so significantly affected by the impact of COVID-19, many people who are looking to purchase property are having difficulty in gaining approval for the borrowing of funds. This means that agents need to be asking the right questions of prospective purchasers in order to gain their true capacity to proceed through to settlement on a property. In addition, with the announcement of the increased thresholds for stamp-duty relief for first home buyers when purchasing new properties or vacant land – it is again imperative that sales agents are asking the right questions when they are qualifying their buyers for a specific property. This level of targeted communication is essential in any environment – it is ever more essential in the current market.
Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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Please visit https://www.acop.edu.au for more information on our courses.
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