All Topics / Help Needed! / Trading in Property

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  • Profile photo of RobbiePRobbieP
    Member
    @robbiep
    Join Date: 2010
    Post Count: 108

    Hi All,

    I am new to the forum and have arrived in Sydney as a permanent resident.

    I am from South Africa and have built a portfolio of 30 properties over the past 7 years.

    I really would like to start doing the same in Australia and there is no reason why i cant.

    I plan to start sourcing my own property in Australia and I'll probably started sourcing property in NSW as this is where I'm based. I am also opened to buying property from estate agents should they have any property deals which meet my criteria.

    Some of these properties I source i would like to keep for myself and build my portfolio. I also plan to pass on any excess properties to investors who may be interested in any good deals i find.

    Am I correct in saying, that in order to buy, sell, trade, receive a commission or referal fee for property that i need to have a NSW Real Estate licence. In order to get this licence i need to complete Cert IV Property Services (Real Estate Licensing Course), which consists of 25 modules.

    I was also told by the owner of the company offering this course, that in 2012 there a new legislation is coming into place which will allow Real Estate Licence holders in NSW to be able to deal with property national and not be restricted to their state.

    look forward to hearing from you guys out there.

    Regards,
    Robbie

    Profile photo of ALF1ALF1
    Participant
    @alf1
    Join Date: 2011
    Post Count: 237

    With all due respect Robbie, I have over 300 ex South African clients all around Australia and the single biggest constant I found from every one of them, regardless of their background in Sth Africa or their chosen trade or profession, is things such as laws, taxation, regulations, licensing and so on in Australia is vastly different to what you were used to back in Sth Africa. I am also acutely aware that if you have built up 30 properties in Sth Africa you're going to have a hell of a time getting that money out of the country. Many of my Sth African clients arrived with little more than a few suitcases and a couple of thousand dollars.
    What you need Robbie is either to educate yourself (and this would probably take you quite awhile) or you should get yourself a coach, guide, mentor or someone or some company who knows Australia's laws and regulations, has the required knowledge and licenses, who can help you to get started until you have learnt enough to go it alone once again. I write these words only through my intimate understanding of many of the difficulties ex Sth Africans of all colors face when trying to rebuild in Australia.
    I wish you every success with your endeavours and new life in the 'land downunder'.
    Kind regards,

    Profile photo of RobbiePRobbieP
    Member
    @robbiep
    Join Date: 2010
    Post Count: 108

    Hi Anthony,

    Thanks for the reply.

    Firstly, my posting was on the requirements needed to be able to buy, sell and trade property. By getting my Estates Agents Licence this will give me alot of information on the rules and regulation of the property market in Australia, plus allow me to source my own property and act as an independnt estate agent. 

    So.. is there anyone out there who can guide me in terms of getting my Estate Agents Licence?

    Anthony, back to your posting.. I have no intention of selling my properties in South Africa, nor do i plan to bringing any large sums of money over to Australia.

    I actually dont want to 'rebuild', but rather just 'build' in Australia. I am in no rush, so even if i buy one property, it will be a stepping stone for many more to come.

    Look forward to hearing from you guys.

    Regards,
    Robbie

    Profile photo of ALF1ALF1
    Participant
    @alf1
    Join Date: 2011
    Post Count: 237

    Hi again Robbie.
    In terms of a Real Estate Sales Rep License you will need the minimum Certificate IV in Property (Real Estate) and the best place to go to find info on the Cert IV is usually the Real Estate Institute (REI) in your state and, as for licensing and certification, your state Consumer Affairs Office.I hope this has been of further help Robbie?
    Kind regards,

    Profile photo of RobbiePRobbieP
    Member
    @robbiep
    Join Date: 2010
    Post Count: 108

    Thanks Anthony,

    So by obtaining a Certificate IV in Property (Real Estate) in NSW I will be able to get my Full Estates agents licence even though i have never worked in an estate agency company?

    Also, i was also told by the owner of the company offering this course, that in 2012 there a new legislation is coming into place which will allow Real Estate Licence holders in NSW to be able to deal with property nationally and not be restricted to their state.

    Is this true?

    Profile photo of ALF1ALF1
    Participant
    @alf1
    Join Date: 2011
    Post Count: 237

    Let's get some clarrity here for you Robbie.
    1. A Cert IV in Property (Real Estate) allows you to be a Real Estate Sales Representative – NOT a Real Estate Agent. You will need to have completed your Diploma for the full Real Estate Agents License. You will also, for both, be required to provide a NPC National Police Check to show you have no prior convictions for fraud or dishonesty (within the boundaries of some States Spent Convictions Acts).
    2. I cannot see there ever being a national accreditation of the current Cert IV and Diploma's in Real Estate because they are all geared up ONLY for the legislation in the particular state you get your qualifications in. If, for example, you were a fully qualified Real Estate Sales Rep in South Australia (licensed under the OCBA – Office of Consumer and Business Affairs) and then moved to Victoria, the Victorian Consumers Affairs will presently require you to complete further modules in Victorian Real Estate Law, Forms, Contract Law, etc before they will allow you to list or sell a single property.
    As I suggested earlier Robbie, contact the NSW Real Estate Institute (REI) and the NSW Consumer Affairs Office and they will be able to give it to you 'straight up'.

    Profile photo of Paul DobsonPaul Dobson
    Participant
    @pauldobson
    Join Date: 2003
    Post Count: 1,196

    Hi Robbie

    Yes the NSW REI and the NSW Consumer Affairs Office are excellent NSW contacts for the information you need.  Another NSW based resource for your enquiries is The Australian College of Professionals ( http://www.collegeaus.com/index.html ).

    Not only do they run the courses mentioned above, they are also very good at being able to assess any experience you may have to see if you qualify for any prior learning credits.  A guy there by the name of Craig Swan, I found to be particularly helpful.

    It was Craig that mentioned the forthcoming National Real Estate Licence to me.  He mentioned that the original plan for the National Licence had it coming into being on the 1st January 2010, or possibly 2011, can't remember.  Other instructors at the College mentioned that this National Licence is heavily bogged down in Inter State discussions and not to expect it for "awhile" yet.

    I have nothing to do with the College, other than having been a student.

    Cheers,  Paul

    Paul Dobson | Vendor Finance Institute
    http://www.vendorfinanceinstitute.com.au
    Email Me | Phone Me

    An alternative way to finance your home.

    Profile photo of RobbiePRobbieP
    Member
    @robbiep
    Join Date: 2010
    Post Count: 108

    Thanks for the information Paul, much appreciated. I will have a chat to Craig.

    So after completing the CPP40307 Certificate IV in Property Services (Real Estate), will this allow me to deal in real estate without working under an real estate agency?

    Profile photo of Paul DobsonPaul Dobson
    Participant
    @pauldobson
    Join Date: 2003
    Post Count: 1,196

    Hi Robbie

    We were able to use the "prior learning" path so I'm not sure what the CPP40307 will give you.  Craig will be able to give you that info.

    Cheers,  Paul

    Paul Dobson | Vendor Finance Institute
    http://www.vendorfinanceinstitute.com.au
    Email Me | Phone Me

    An alternative way to finance your home.

    Profile photo of RobbiePRobbieP
    Member
    @robbiep
    Join Date: 2010
    Post Count: 108

    Thanks Paul..

    How did you find the course and how long did it take you to complete?

Viewing 10 posts - 1 through 10 (of 10 total)

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