A real estate agent needs to be licensed in order to work as an intermediary between sellers and buyers of residential or commercial property. The rules for what is considered a ‘seller’ and a ‘buyer’ are a little bit different, but in general anyone can apply to become a real estate agent.
However, not everyone will be successful in getting their licence! It takes quite a while to get your license so you should start thinking about it at least six months before you expect to begin working. This gives you enough time to prepare physically and mentally for the exam.
Some parts of the test require proof that you have studied certain subjects, so make sure you have done this already! Also, some additional materials may be needed so check out our list below for more information. Good luck!
Introduction
This article will talk you through how to get your real estate agents licence in Queensland. We will go into great detail including which courses to take, when to take them, and any other things you need to know. Make sure you read all the material completely before taking the exams.
We also include important tips and tricks here as well! If you want to learn even more then keep reading and learning from these.
Find a partner
Finding a good real estate agent is not easy, it takes time to find someone that you feel comfortable with and who can help you achieve your goals.
Most agents start out as part of a team before moving onto become partners or representatives for that agency.
As a beginner, look into whether there are any local real estate agencies in your area that offer training courses. Or ask around to see if anyone knows of an excellent agent.
You could also join a residential real estate group on Facebook or LinkedIn to get tips and tricks from other members.
Pay a deposit
After receiving your provisional license, you will need to pay a licence deposit or application fee. This is typically between $250 and $1,000, depending on how much support you have for this licence.
Most real estate agents require at least one year of experience under their belt before they can be considered fully qualified. During that time, your prospective agent must go through several rounds of testing which include assessments for professional qualities such as being able to deal with others, demonstrating leadership skills and showing an understanding of the laws related to property sales.
These tests are usually sat after work hours so most people don’t find out about them until later in their career. Because of this, many aspiring real estate professionals never get the chance to prove themselves during those initial years while earning very little money.
Charging a small licence deposit allows individuals with potential to develop these skills and make enough money to afford some beginner lessons. It also gives them a head start over more experienced professionals who may feel reluctant to train someone else – especially if there isn’t much money involved!
Making it easy for people with no connections to become real estate agents could mean breaking down barriers to entry and helping them realize their dream, which would be worth the price of the deposit alone.
Provide evidence of your identity
The next step in getting yourself a real estate license is proving who you are! This includes providing valid proof of your name, address and date of birth. You will also need to provide identification such as a driver’s licence or passport with your picture, which show that you are alive.
It’s very important these documents prove it is you at the end of the day, no one else can use them! Documentation must be original (no photocopies) and complete (name, DOB etc). Make sure everything matches!
If anything about this information changes then you have to update it again, people cannot use outdated info to verify your identity. This could easily happen if, for example, someone gets re-married and their spouse takes over their old cards.
The person registering needs to know who they are working for, so make sure all paperwork has the correct names and job titles written clearly.
Provide evidence of your financial situation
A prospective real estate agent must prove that they can afford to pay for a licence, as well as use a professional degree or certification as proof of their qualifications. This is not only important for you to know before investing in their training, but also for the regulator to verify before granting them accreditation.
Many property agents do not require formal education beyond high school, so it is worth looking out for if you are interested in buying or selling a home!
A less expensive option is attending college or trade school, where students learn about properties. These courses typically cost around 2–4 thousand dollars per year, which may be able to satisfy educational requirements for entry into the profession.
However, these options cannot guarantee a career in real estate, nor will they qualify you under the regulations to work as an agent.
Obtain your insurance
As mentioned earlier, before you can apply for your real estate agent’s licence, you will first need to obtain professional liability insurance that covers you as a broker (for example if someone sues you for negligence) and general property damage (if something is stolen or destroyed).
These policies are relatively easy to find and cost around $1,000 per year. Many brokers offer these themselves but it is also possible to get them through an agency or directly from insurers.
Your potential employer will ask you about this during the application process so make sure you have proof of coverage!
It is very important to note that in most cases your policy WILL NOT cover you if you are sued for fraud. So even though they may not know about past lawsuits, your insurer could still deny coverage due to recent activity.
We recommend staying within budget for your personal injury protection (also called “no fault” insurance), however, we sell expensive rental safety equipment so I thought I would mention it.
Apply for your licence
After you are ready to apply, you can visit our Getting Started With The Agent’s License page to choose which state in Australia you would like to be licensed in. Once this is done, you will then need to fill out an application form and upload some documents or proof that show you meet the requirements to work as an agent.
It is also important to know what level of agency license you want – if you just wanted a beginner’s license, you could do this at any Australian State or Territory government department. However, working with more advanced software such as ours requires you to go through company training first, so it is best to make sure this has been done before applying.
We recommend doing this as early as possible as there is a deadline to get these things sorted! Make sure you don’t forget these things otherwise you may not qualify for your licence.
Pay your first year’s rent or mortgage
In Australia, you need to be licensed as a real estate agent before you can work in any state. This means that you must have access to a house or apartment you are willing to let as an office space for yourself, as well as money to pay your licence fee per month.
Most states require that you are able to prove that you have paid your last full-time job (also called a contingency fund), so it is best to make sure this is done already.
After paying these two pieces, there is usually a monthly payment for your licence which ranges from $200-$600 per month depending on how much business you want to do.
Provide proof of your address
After proving you are over 18 years old, that you have enough money for a down payment, and that you’ve passed the necessary exams (for agents), then it is time to provide proof of your current residence. This can be done in one of two ways – either through providing us with a copy of an ID or having someone vouch for you as a resident.
