People who work in the real estate industry describe it as a vocation that gets into the blood, and despite the long hours and disappointments when a sale falls through, they still find it exciting and challenging. For those who work hard, and approach their craft with intelligence and integrity, it can be a rewarding career, both personally and financially.
Working in Real Estate Involves Government Regulation
Real estate is also an industry that is important to our economy. Buyers and sellers must be confident that their investments are protected from unscrupulous dealings. We must ensure that people entering the industry understand their responsibilities. Becoming a real estate agent in Western Australia is regulated under the Real Estate and Business Agents Act 1978.
Entry level usually starts when an individual wants to work as a real estate sales representative. To do this, the person must be registered and work under the supervision of a licensee like Bunbury Real Estate. Just as an example, we may have an administrative staff member who wants to move to sales, and we have agreed to give that person an opportunity. They start the registration process.
Age and Character Requirements
To get registration, a person must be over 18 years of age, be of good character and fully understand the demands of the legislation. To verify character, the Commissioner for Consumer Protection requires a current Australian police check. If any issues come to light, the applicant must produce further evidence or even attend an interview, to explain the circumstances.
There are also formal qualifications required for registration. These are successful completion of the Sales Representative Registration Course, a degree conferred by some WA universities or specific modules from the nationally recognised Property Services Training Package. These modules must be delivered by an approved training provider.
Next Level – Real Estate Agent
An individual can also apply for a licence to operate at the next level, as a real estate agent. The process is similar but with more stringent requirements. The age and character requirements are the same, but higher academic qualifications are required. Diploma or degree levels in the relevant disciplines are necessary as well as documented practical experience.
Applicants must also provide a statement of assets and liabilities to ensure they have the financial ability to conduct a real estate business. An independent registered auditor must also be appointed to audit the agent’s trust accounts.
Registration Process Supported by the Industry
We support the rigour involved in these registration processes, as we know that it protects our industry, and the reputations of the many excellent people working in real estate. It also reduces the likelihood that unscrupulous individuals may establish themselves in the industry.