Section 22 of the Property and Stock Agents Act 2002, notes that agents must hold Professional Indemnity Insurance. The Regulation requires insurance policies to provide a minimum level of indemnity coverage of not less than $1 million for any one claim; and not less than $3 million in the aggregate, for all claims made during the period of insurance. These indemnity amounts are inclusive of costs incurred or payable by the claimant in connection with any claim.

Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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Section 30 of the Property and Stock Agents Act 2002 refers to the business names of individuals and businesses as they are presented to the public. This is to ensure transparency in business transactions. Agents need to check that their website, all advertising and business cards represent the full legal names of the agent being named. If the agent is using a version of their name that varies from their legal name, ensure that the agent's licence or Certificate number is included with their name, in order for any member of the public to check the NSW Fair Trading Agent Register to confirm their authority as an agent under the Act.

Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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Whether you work in real estate, stock & station or strata management, or whether you are an Assistant Agent or a licensed agent, depending on when you first obtain your Certificate or your Class 2 or Class 1 licence, it makes a difference as to when and how many hours and modules of training you need to do to meet your CPD requirements for the year. Simply, the CPD year of 23 March to 22 March the following year, is divided into 3 blocks (March to June – June to December – and December to March). Depending on which block you gain your specific authority, depends on how much training you need to do. As every agent is different, because of when you personally make your application, it’s best to check with ACOP to confirm your CPD obligations in any given year.

Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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As of 20 October 2021, masks are still mandatory in all indoor common areas of residential strata premises in NSW. Common areas include lifts, car parks, garbage areas, lobbies, stairwells and corridors. This public health order applies to residents, visitors, contractors, staff, and delivery drivers. As a property manager or strata manager, ensure that the signs are on display in the common areas informing residents to wear masks in all indoor common areas.

Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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According to the NSW Property and Stock Agents Regulation 2014 (Schedule 7, clause 6), every sales agency agreement must include a term indicating the period for which the agreement remains in force or indicating that the agreement remains in force until terminated and include how and when termination will occur. Schedule 8, clause 4 also notes that if a fixed term agreement exceeds 90 days, the agreement must include a term that entitles the property owner to terminate the agreement (without penalty) by giving 30 days’ notice in writing to the agent after the first 90 days of the term.

Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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The NSW Government’s updated COVID-19 safety plan states open homes are permitted with no more than one person per four square metres indoors and one person per two square metres outdoors. Face masks must be worn in indoor areas, unless exempt, and people must check in using the Service NSW app. Real estate agents must have hand sanitiser at key points around the venue. Furthermore, in-person auctions are permitted under density rules of one person per four square metres indoors and one person per two square metres outdoors. Face masks must be worn in indoor areas, unless exempt, and people must check in using the Service NSW app. The COVID-19 safety plan says agents must take reasonable steps to ensure all people aged 16 and over attending an indoor auction are fully vaccinated.

Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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Whilst the Code of Conduct for STRA come into effect in December 2020, and the legislation will come into effect on 1 December 2021 – there has been an extension to the requirements for fire safety in relation to STRA. Due to the Covid-19 stay at home orders, some STRA hosts have been unable to travel to their properties or secure tradespeople to ensure that they are compliant with the new fire safety standards for STRA. As a temporary measure in response to the stay at home orders, the NSW Government has granted a ‘grace period’ for this fire safety requirement. Hosts must still register by 1 December 2021, but they can delay the fire and safety requirement until 1 March 2022. This means that hosts have an extra four months to ensure their dwelling complies with the fire safety standards.

Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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Yes, whenever a NSW property agent enters into an agency agreement with a client, the agent must obtain verification of the identity of the party with whom they are entering into that agreement. Clause 4 of the Supervision Guidelines issued by NSW Fair Trading is very clear about the need to obtain three levels of identification – primary photo id, two types of secondary id and documentation providing proof of legal ownership of the property. All three levels of identification are required, not just some photo id. This identification is required for all parties entering into the agreement, not just one.

Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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As we don’t have specific health orders in relation to the property industry in relation to what happens when we reach the 70% double vaccinated rate and then when we reach the 80% double vaccinated rate, we can simply rely on the movement orders. This informs us that at 70% we can have 5 double vaccinated people in a property, so make your decisions as agents regarding open homes and auctions with respect for this order. We must also be mindful of the 4sqm rule for social distancing and note that at 80% double vaccinated, the number of people permitted in a property is 10 double vaccinated people and the 4sqm rule remains for inside and reduces to 1 person per 2sqm for outside a property. So keep up the social distancing, hygiene protocols and QR codes and amend your Covid Safety Plans as required.

Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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If you obtained your real estate, stock & station, strata management or business agents licence between September 2003 and March 2020, you may have entered the industry, completed your training and immediately made application for a licence. Pre and post those dates, you were required from a regulatory perspective to hold a Certificate of Registration (an introductory authority to practice under supervision). If you let your licence lapse more than 5 years ago, and did not ever hold a Certificate of Registration, you will not be able to re-enter the industry to a licence level. You will need to start at the very beginning again – that is, obtain a new Certificate of Registration, work as an Assistant Agent for a minimum period of 12 months and a maximum period of 4 years, complete the new licensing qualification and then make application for a Class 2 licence.

Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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