13 July 2022

On 1 July 2022, the ACT government introduced changes to the regulation of the real estate industry.

The reforms include changes to:

• licence and registration categories

• qualification and experience requirements for licences and registrations, and

• restrictions on the activities each licence and registration group can undertake.

Summary of the reforms

The reforms to the regulation of the real estate industry will:

• divide agent licences into two classes (class 1 and class 2)

• require all licensees-in-charge of a real estate business to hold a class 1 agent licence

• introduce a new land auctioneering licence which requires all individuals to hold a class 1 or class 2 agent licence and complete three auctioneer-specific units of competency

• renames ‘salesperson’ as ‘assistant agents’ to better reflect the remit and responsibilities of this registration group

• restrict assistant agents from conducting auctions, withdrawing trust money and entering into agency agreements

• remove the unqualified salesperson registration pathway

• update the mandatory qualification and experience requirements for licensed agents and registered assistant agents

• allow the Commissioner for Fair Trading to grant exemptions from the prescribed training requirements in limited circumstances where the applicant holds a higher relevant qualification.

Learn more about the reforms on the ACT Justice and Community Safety Direcorate website.