THE NEW CERT IV –WORTH THE HYPE?

OVER MY 15 YEARS AS A TRAINER/ ASSESSOR WITH THE REIV, THE QUESTION I GET ASKED THE MOST IS EITHER ABOUT GETTING AN ESTATE AGENT’S LICENCE OR, IN MORE RECENT TIMES, THE DIFFERENCE BETWEEN THE NEW AGENT’S REPRESENTATIVE CERTIFICATE IV AND THE SUPERSEDED 3-UNIT AGENTS REPRESENTATIVE ACCREDITATION.

The 3-unit accreditation course was very dated as it had been running for well over 30 years (in various formats). It consisted of just one property management unit, one sales unit and one basic work in the industry unit.

Three decades on, the public has become much more educated in the mechanics of the industry and demands and deserves much more from a real estate professional. Following a long period of discussion, consumer feedback and advocacy by the REIV, the real estate education requirements were overhauled in 2020.

The review took well over two years where it was identified that most states around the country were considering a similar approach. Parity at a national level would make it easier to implement mutual recognition guidelines and transfer a licence between states. It presented an opportunity to recognise various disciplines within the real estate sector such as, buyers advocacy which were not catered for in the previous course. However, a like for like licensing model (national licence) was unlikely to be achieved due to the geographic and demographic make-up of Australia as a whole.

The new Agent’s Representative Course consisting of 18 units of competency was introduced as a Certificate IV in Real Estate Practice. To qualify for an Estate Agent’s licence, you are now required to complete the new Agent’s Representative Course and the 12 units of the Diploma of Property (Agency Management).

Although the jump from 3 units to 18 units was a big leap forward, it presents a Certificate IV qualification that is of much higher academic value over the long-term, as compared to a Certificate of Competency received after completion of the 3-unit accreditation.

Individuals completing the new Agents Representatives Course are better informed about key areas of real estate practice

As an employer, when I see a CV with a Certificate IV in Real Estate Practice attained at the REIV, it tells me a lot about their knowledge of the sector and the commitment they have demonstrated by completing the course.

Individuals completing the new Agents Representatives Course are better informed about key areas of real estate practice as they now must complete units of competency in trust accounting, VCAT, buyer relationships as well as auctions, sales and property management, giving them a much wider exposure to the business.

The REIV is approved to provide subsidised training under the Skills First contract, delivered with Victorian and Commonwealth Government Funding. Government funded courses at the REIV are:

• Certificate IV Real Estate Practice (CPP41419)

• Diploma of Property: Agency Management (CPP51122)

Contact us to confirm your eligibility

Please note, eligibility criteria for skills first funding have been expanded. Upskilling is no longer an eligibility requirement for skills first funding.