This unit specifies the skills and knowledge required to conduct transactions in real estate trust accounts. It includes identifying the purpose and types of property trust accounts, applying agency controls to transactions in property trust accounts for specific purposes, balancing, reconciling and reporting on trust account transactions, and maintaining records of trust account transactions.

This unit applies to people currently working in or seeking to work in real estate. State or territory licensing requirements may apply to this unit, which is an elective unit (Residential Property Management) forming part of the qualification CPP41419 Certificate IV in Real Estate Practice.

At the end of this unit, you will be able to:

• Adhere to legislative requirements

• Process deposits

• Process payment, fees and charges

• Maintain and protect trust account records.