NSW CPD requirements have changed – as of 23 March, 2020.
Class 1 and Class 2 licence holders must complete six (6) hours of Continuing Professional Development each CPD year [3 hours of Elective and 3 hours of Compulsory CPD training].
The NSW CPD requirements are no longer related to an agent’s licence renewal date; and “CPD Points” are no longer required – “CPD hours” are what count!
Compulsory CPD can only be provided by Approved Providers – and MRT Training is one of the Approved Providers (see the list on NSW Fair Trading website)
Please make sure you have a careful read of the information in the “Description” section below for more detailed information about the new NSW CPD requirements.
Once purchased, this course will be immediately available under the MY COURSES tab above.
NSW CPD requirements changed in 2020 with new rules introduced by NSW Fair Trading on 23rd March. CPD obligations are no longer tied to the agent’s licence renewal date.
Instead, the “CPD year” goes from 23 March 2020 until 22 March 2021. It is also measured in hours now, and not points.
All licensed Agents (both Class 1 and Class 2) are required to complete six (6) hours of CPD before 22 March, 2021. Class 1 Licence holders will be required to complete an additional three (3) hours of training on business-related topics in the next year of this new system – and each year thereafter.
Class 1 and Class 2 holders need to complete 3 hours of “Elective CPD” and 3 hours of “Compulsory CPD” before 22 March 2021. There is no longer a need to meet the old criteria for 12 points, in place prior to 23 March 2020.
If agents have “points” accrued from before the 23rd March, 2020, those points can be transferred towards the NSW CPD requirements for Elective hours at the rate of 3 points per hour.
The Elective CPD is any training undertaken that fits under the heading of “property practice” – and agents are required to keep their own records of compliance. There is no longer a requirement to have CPD certificates issued by an RTO for the Elective CPD.
To assist with this, here are 2 Log Book/Record pages that can be used to assist with the record keeping:
The Compulsory CPD topics are set by NSW Fair Trading and must be delivered by an Approved Provider.
MRT Training is “an approved provider” for the NSW CPD requirements.
The three (3) topics specified by NSW Fair Trading for this first CPD year are (a) the new Legislation (Residential Tenancy Act, and Property & Stock Agents Act), (b) the Rules of Conduct, and (c) Risk Management.
Certificate of Registration holders (Assistant Agents) are required to be completing their studies towards having their full licence.
In order to meet their CPD obligations, Assistant Agents must complete at least three (3) units per year until they have completed the relevant Certificate IV course to gain the full Class 2 Licence.
This must be completed within 4 years, or those Assistant Agents will be required to “leave the industry” for one year.