You would be forgiven, what with all that was 2020, if you missed the comprehensive amendments to property licensing. There was a lot going on. BUT, if you qualify, and want to transition from a class 2 to a class 1 Licence, you do need to act now.

A class 1 Licence is required to be a Licensee-in-Charge.

We spoke to Real Estate Training Solutions (RETS), a friend of WiS this afternoon who confirmed you can qualify for a transition from class 2 to class 1 IF:

• As of 23 March 2020 you had held a licence for at least 2 years, or
• Carried on business under the licence, or
• were employed to be the person in charge of business carried on under a licence at a place of business (the licensee in charge).

If you want to transition, and you qualify, you must do so BEFORE 22 March 2021. Otherwise, you will likely be required to obtain additional qualifications.

There will be additional fees payable, and you will need to undertake additional CPD training of 3 hours each year.

Fair Trading has stated that the transition is not automatic, although we are told some people have been automatically upgraded.

RETS has recommended, for the avoidance of doubt, that anyone wanting to change, and who qualifies, that completing the form and submitting to Fair Trading would be advisable.

You can access the form here.

It needs to be emailed back to REtransition@customerservice.nsw.gov.au

Questions? Let us know and if we don’t know, we’ll reach out to people who do.