NSW Government Reminders

The NSW Government has set rules and regulations for property and real estate license holders. Here are some key points to remember:



Licensees in Charge – Are your agents qualified?

Make sure your assistant agents are qualified by March 2024. Check their Continuing Professional Development (CPD) status and guide them towards a class 2 license within four years of starting their certificate of registration.

Those who got a four-year extension in March 2020 as part of property reforms must complete their Certificate IV qualification and get a class 2 license by 22nd March 2024.

What if they haven’t enrolled for a Certificate IV?

Not a problem! RETSNSW is a Registered Training Organisation that offers top-notch training to ensure your team gets that class 2 license on time. Check out our Certificate IV course offers.

Qualification Courses


Elevate your skills with RETSNSW CPD courses

New CPD rules are in place! This CPD year runs from 23rd March 2023 to 24th March 2024.

If you are a Licensee in Charge, a licensed agent, or an assistant agent that needs to renew their CPD, then look no further. RETSNSW offers tailored courses to elevate your professional game.

Check out all available CPD courses and bundles below.

CPD Courses


Building orders unveiled: What buyers need to know!

Agents need to inform potential land and property buyers about any active orders under the Residential Apartment Buildings (Compliance and Enforcement Powers) Act 2020.

These orders include prohibition orders, stop work orders, and building work rectification orders issued by the Office of the NSW Building Commissioner.

For more information and for a list of all current orders, visit the Register of building work orders page on the Fair Trading NSW website.

In the realm of real estate agency businesses, various roles exist, each carrying different regulatory requirements under the Property and Stock Agents Act 2002.

While some roles may not necessitate a license or certificate of registration, it’s crucial to understand the distinctions.

Certain administrative roles within agencies often do not require a license or certificate under the Act. For instance, individuals engaged in administrative support tasks that aid licensed agents or certificate holders typically fall into this category. While the law doesn’t specify all exempt functions, it primarily focuses on regulating specific functions outlined in the Act.

Let’s take a look at some practical examples to better illustrate these concepts:


Example 1: Administrative Support

Andre operates a property management agency where casual employees assist with administrative tasks, such as sending work orders to contractors and managing tenant details. These employees do not require a certificate of registration or license for their duties, but authorization for certain actions must come from a licensed agent.



Example 2: Receptionist Duties

Tania serves as a receptionist in a real estate agency, handling customer inquiries, issuing keys to tenants, and coordinating appointments. Her administrative functions do not mandate a certificate or license. However, she must refrain from performing tasks reserved for licensed agents, such as providing advice to clients.



Example 3: Livestock Sales Coordination

Murray works for a stock and station agent in regional NSW, mainly assisting with livestock sales coordination. While his role doesn’t demand a certificate or license, he should avoid tasks requiring specialized licensing, like managing property inspections or providing advice to clients.

Understanding these distinctions ensures compliance and effective support within agency roles.

Go to source article on Fair Trading

Gazumping occurs when an agent or seller accepts your offer to buy a property at an agreed price but sells it to someone else, usually for a higher amount.

The agent must pass on any further offers until contracts are exchanged. In NSW, a sale is binding upon exchange, where both parties sign contracts and a deposit is usually paid.

If you’re gazumped, neither the agent nor the seller are obliged to compensate you for expenses like legal advice or inspection reports, but your expression of interest payment should be refunded.


To protect yourself:


  1. Have pre-arranged loan finance and the 10% deposit ready.
  2. Get the sale contract early and have it checked by a conveyancer.
  3. Aim to exchange contracts quickly to avoid gazumping. Residential buyers have a five-day cooling-off period, which can be extended by agreement.
  4. During the cooling-off period, you can do inspections, but rescinding the contract forfeits 0.25% of the purchase price.
  5. Negotiate firmly and ensure your offers are passed on by the agent.
  6. Ask for written evidence of passed-on offers if possible.
  7. Be prepared to increase your offer if needed.
  8. Remember, the vendor can change their mind before contracts are exchanged, and they’re not obligated to sell to any specific buyer.

In NSW, residential tenancy agreements are governed by specific laws regarding their termination.

Termination typically occurs through actions by the tenant, landlord, landlord’s agent, or via an order from the NSW Civil and Administrative Tribunal.

To gather insights into tenancy terminations and inform potential reforms, Fair Trading conducted an ongoing survey that started 2 August 2021. The survey aligns with provisions outlined in the NSW Residential Tenancies Act 2010.

Survey invitations are emailed, and participation is voluntary. Individual responses remain anonymous.


Survey Results

Termination notice from agent or landlord

Total Responses: 3000


Termination notice from tenant

Total Responses: 13176


Termination by order of Tribunal

Total Responses: 151



Total Responses: 1225




There is a diverse range of circumstances and legal provisions that influence the relationship between landlords/agents and tenants.

These include breaches of tenancy agreements, such as late rent payments or other violations, the natural expiration of fixed-term agreements, the flexibility of terminating periodic leases without grounds, unforeseen events such as the death of a tenant or property damage, property sales, and administrative reasons.

Each of these factors contributes to the variety of responses observed in the data.

Read the announcement on Fair Trading View the source data
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