New regulations for real estate education introduced by the Victorian State Government came into effect today, Thursday, October 21.
A Certificate IV will now be the minimum real estate qualification required to work in real estate. Exemptions apply for those already working in real estate, or with recently-completed qualifications.
The change comes after prolonged lobbying and extensive consultation from the Real Estate Institute of Victoria.
The REIV has welcomed the state government’s actions to raise the education standards required for the real estate sector.
“We applaud the state government for taking action to lift training standards for Victorian real estate,” REIV CEO Gil King said.
“We have worked very closely with the national and state government stakeholders to achieve this outcome and will continue to build on this foundation.
“Lifting real estate training standards has been a long-term goal of the REIV,” REIV President Leah Calnan added.
“Having quality training drives up public confidence in our sector.
“As the sector continues to evolve, so must the standards to ensure that Victorian real estate continues to attract committed and talented people.”
Some in the industry aren’t as pleased with the change.
“It is now a requirement to get the full Certificate IV qualification before commencing work,” Tony Rowe, CEO and MD of MRTÂ Training explained.
“[This is] completely counter-intuitive to the goal of raising standards – no ‘real world’ experience is allowed under the Qualification Order Regulation until the person has completed the full Certificate IV.
“There has been no extensive consultation with anyone on this other than the REIV – but there rarely is in Victoria – and the REIV, in their submission on the draft recommendations, whilst supporting the reforms, also pilloried the Victorian Government as having to be “dragged kicking and screaming” to address the need for the Qualifications Order to be updated.
“The arguments posited for these reforms are spurious, illogical and based on false premises.
“A massive opportunity for nationally consistent licence arrangements has been lost by the petty, parochial bickering between the various state-based industry bodies, and the various regulators.
“Whilst I have no objections to raising educational standards for agents across all jurisdictions, these requirements in Victoria are likely to be a massive disincentive to most people who would seek to enter the industry – on a cost basis, as well as the time required to complete the full qualification prior to entering employment.
“Whether, and how, candidates will be able to meet the competency requirements without actually working in the industry will be interesting. They will need to meet those requirements in a simulated environment.
“As with NSW, there are better ways to achieve the goals, that require a broader consultation base than has been undertaken here.”
