Real estate agents in New South Wales make around $95,547 a year.However, if you want to go down this career path you first need to obtain certain qualifications.

This article will tell you all you need to know about how to get a real estate licence in NSW, from the application process to the fees you might be required to pay.

Who Needs a Licence in New South Wales?

If you want to work as a real estate agent in New South Wales you must be licensed.

This means that you need to obtain a licence if you plan to

  • Act as an agent for a potential buyer, seller, landlord, or tenant Negotiate payments Provide property management servicesCollect rent

You can act as an auctioneer with a real estate agent’s licence too but only if you hold auctioneer accreditation as well. 

What’s the difference between class 1 and class 2?

There are two classes of real estate agent licence in NSW: class 1 and class 2.

  • A class 2 real estate licence allows you to buy and sell commercial and residential properties on behalf of your client. It also gives you the authority to manage rental properties but does not permit you to set up or manage your own agency or open or manage a trust account.  To get a class 2 licence you must have a certificate of registration as an assistant agent for at least a year and have relevant work experience under the supervision of a licensee in charge. A class 1 real estate licence authorises you to all of the above as well as run your own real estate agency and open and authorise trust account transactions for the business.  To apply for a class 1 licence you need to hold a class 2 licence for at least two years.

How to Become a Real Estate Agent in NSW?

You can apply for a real estate licence by filling out the application form on the Service NSW website. You can also apply in person but you need to download and fill out the application form before delivering it to your closest Service NSW service centre. 

Your application will be reviewed (which may take up to a month) after which you will receive an email with your licence or the reasons why your application was rejected. 

Who can apply for a real estate licence in NSW?

To apply for an NSW real estate licence you must

  • Be 18 years or olderBe declared fit and proper by Fair Trading (i.e. pass certain criminal and financial checks)Meet the qualifications and work experience required for the licence you are applying for.

What’s more, your licence, certificate or registration cannot be disqualified and your main place of business should be in New South Wales or at least 50 km of the NSW border. 

You might be interested in: What are the best real estate websites in Australia

How to Get a Real Estate Licence in NSW?

Here are the steps involved in becoming a realtor in New South Wales. 

1.Become an assistant agent 

To become a class 2 real estate agent you must first work as an assistant agent for at least a year before applying. 

Assistant real estate agents need to obtain a Certificate of Registration to start working, i.e. pass these five core units from the Certificate IV in Real Estate Practice (CPP41419):

  • Prepare for professional practice in real estate (CPPREP4001)Access and interpret ethical practice in real estate (CPREP4002)Access and interpret legislation in real estate (CPPREP4003)Establish marketing and communication profiles in real estate (CPPREP4004)Prepare to work with real estate trust accounts (CPPREP4005)

This entry-level position comes with limited responsibilities and authorities, but it is a job you can do without any previous experience. Plus it allows you to gain the skills and knowledge needed to operate as a fully-fledged realtor. 

A Certificate of Registration is issued for four years after which you either need to complete the required qualifications for a class 2 real estate licence. The Certificate can’t be renewed. 

Courses for the Certificate range from $590 to $695 and last one month. 

2.Get a class 2 real estate licence

The next step after working as an assistant agent for one year is to complete Certificate IV in Real Estate Practice (CP41419).  

This is a qualification that all agents must have in order to carry out real estate functions. It consists of 18 units (the 5 compulsory units from the Certificate of Registration and 13 elective units). An NSW real estate licence course for this qualification usually lasts about 12 months and costs between $2,290 and $2,500.

You also need to complete the work experience required of a class 2 agent before making the application. This includes at least 9 tasks from Part 1 or the logbook and at least 5 from Part 2, unless you’ve held an unrestricted licence for a year before applying in which case work experience is not required. 

There is an option to get your one year experience as an assistant agent and study for Certificate IV in Real Estate Practice at the same time, thereby fast-tracking your progress towards a class 1 licence. 

3.Get a class 1 licence 

Real estate agents interested in a class 1 licence need to obtain a Diploma of Property (Agency Management CPP51119). This qualification involves 12 units of competency, 7 of which are core and 5 elective units. A real estate agent course for this certificate takes between 3 and 12 months to complete and costs around $2,500.

You will need to complete the work experience tasks for a class 1 agent as well (i.e. complete all the tasks in Part 1 or the logbook and at least 8 tasks from Part 2). Note: If you have the required qualifications and work experience you can add a stock and station agent or strata managing agent category to your licence.

4.CPD Training

You are also required to complete continuing professional development (CPD) training every year between 23 March to 22 March. This training is mandatory and must be provided by a Registered Training Organisation. 

For class 2 agents, this includes 6 hours of CPD training every year, i.e. 3 hours of compulsory and 3 hours of elective CPD topics (compulsory topics are chosen by Fair Trading each year).

Class 1 licence holders, on the other hand, need to complete 9 hours of CPD training—the same as class 2 agents, but with an added 3 hours of business skill topics. 

Failure to comply will result in your licence getting suspended. 

You can find the full list of CPD requirements for 2022/2023 here.

Looking at other career options? Here is a list of fun jobs that pay very well. 

Real estate licence NSW cost and fee

Both class 2 and class 1 applicants can get a licence for a one-, three- and five-year period. 

This is how much a real estate licence in NSW costs according to Fair Trading. 

An assistant agent’s licence costs $297 and can only be issued for 4 years. 

Renewal costs range between $367 and $1,531 for a class 2 licence and $482 and $1,802 for a class 1 real estate agent’s licence. Your licence needs to be renewed before it expires, otherwise you will not be authorised to work as a real estate agent. 

How much does a real estate licence cost in Australia?

Fees in NSW are actually quite reasonable. In other states, the cost of a real estate licence can go from as low as $450 in Tasmania to $2,800 in Queensland. 

Bottom Line

A real estate agent is an exciting job with a lot of flexibility and opportunities for growth, including the chance to run a real estate agency and be your own boss. Plus you get the satisfaction of helping your clients find or purchase their dream home. 

The path to becoming a realtor in NSW is not easy, although the rewards are more than worth it. So if you are interested in this career option, contact Fair Trading NSW today and start your journey. 

1.How to become a real estate agent in Sydney?

The same rules and regulations apply to Sydney real estate agents as to the rest of NSW. 

The biggest difference is that house prices in Sydney have sky-rocketed lately, which means that agents operating in the city can expect to get paid more, especially if they work on a percentage-based model. 

2.Can you take real estate courses online in NSW?

Yes, courses to pass all three qualifications can be taken in person or online. Most course providers offer a blended model, though, with some units covered in person and others over Zoom. 

3.How long does it take to get a real estate licence in Australia?

It should take you about a month to complete the Certificate of Registration and start working as an assistant agent. After that, you need to operate as an assistant agent for at least a year before moving on to a class 2 licence. 

4.How much do real estate agents get paid in NSW?

Although the average salary is around $95,547 a year, most real estate agents in Sydney and NSW make between $50,000 and $70,000. The figure varies as most agents charge a commission of the sale or purchase they make—so the bigger the house, the higher the payout.