CPP51119 Diploma of Property (Agency Management)

The CPP50307 Diploma of Property Services (Agency Management) is the current qualification required to receive a triennial licence. This qualification consists of 26 units of competency, most of which cover the operational tasks of selling and leasing. This does not align with the job role of an agency owner/manager.

The new CPP51119 Diploma of Property (Agency Management) consists of 12 units which are all management level units, ensuring that completion of this qualification fully prepares students to manage an agency. There are seven core units and five electives that make up the qualification. Visit training.gov.au for full qualification details.

Changes to triennial licence

The diploma course will remain the educational requirement to apply for a triennial licence, as well as two years current industry experience. There may also be a requirement to hold an unrestricted registration which would impact current restrictedpropertymanagement registrations only.

How does this affect existing agents?

The new qualifications will have no impact on existing agents as long as they maintain the currency of their licence. DMIRS have indicated that they will not require a retrospective update of training for anyone who holds a current licence.

If a licence lapses, or is cancelled, then there may be a requirement to complete the new qualification in order to renew a licence. It is therefore more important than ever that agents ensure they complete their CPD requirements each year as DMIRS will commence issuing fines to those who do not comply and have already made it very difficult for agents to make up points from previous years.

There may be a requirement that you must hold an unrestricted registration in order to progress to the diploma (we are waiting on DMIRS to confirm their requirements for registration and licences). You will still also be required to have a minimum of two years experience in order to apply for a triennial licence (visit the DMIRS website for further information).

Extension to transition period

The new qualifications were endorsed on 25 February 2019 and was released on training.gov.au 21 March 2019.

In September 2019, The Australian Skills Quality Authority (ASQA) made the decision to extend the transition period for the old real estate qualifications to September 2021. This decision impacts all Registered Training Organisation's (RTO's) nationally and was based on requests from RTO's (mostly in the Eastern States). This decision was not made or influenced by DMIRS or REIWA and as such we are now in the process of creating a new transition strategy for the development and delivery of the new courses.

What this means

  • RTO's can continue issuing statements for the existing qualification (CPP50307) until September 2021
  • RTO's can continue enrolling students and delivering training under the old qualifications until September 2021
  • For further information on the extension you can visit the ASQA website

How does this impact the delivery of the new qualifications?

  • RTO's can still commence delivery of the new qualifications (as long as they have it on scope)
  • It is likely that the transition to the new qualifications will be delayed by many RTO's, this will allow them time to create all new resources and finish up students on the old qualifications

How does this impact licences and registrations?

  • We are still waiting for DMIRS to formalise the registration and licence requirements for the new qualifications, this process is nearing completion and will continue as planned
  • DMIRS will accept the old and new qualifications for a period of time (a deadline for old qualifications has yet to be determined)

Transition planning

  • This decision has taken us by surprise and has meant that we now need to rethink our transition strategy
  • The full diploma course will now be available to all practitioners who wish to complete CPP50307 Diploma of Property Services (Agency Management) and make the most of the opportunity to gain credit transfers for training already completed for their registration course and complete Recognition of Prior Learning (RPL) for other operational units (if eligible). This will only be available for a limited time!
  • We are still keen to start delivering the new qualifications. We strongly believe that the updated courses offer significant benefits to the student, the industry and the consumer. We feel that putting off the transition any longer than 6 12 months is unnecessary and our new transition strategy will reflect this. Its time to bring real estate training up to date with real estate practice and improve the public perception by ensuring all practitioners are better educated and skilled to ensure better outcomes for the consumer.

Find out what the new training package means for sales representatives and property managers