FAQs - Continuing Professional Development (CPD)
On 23 March 2020, NSW Fair Trading introduced reforms to the NSW property industry. These changes include new CPD requirements for different licence categories and certificate of registration holders.
As part of the new requirements, CPD must now be completed between 23 March and 22 March each year (e.g., this year, all licence and registration holders must meet their CPD requirements between 23 March 2020 and 22 March 2021). You do not need to complete CPD before renewing your licence, you just need to ensure it is completed within the prescribed period.
Assistant Agents (Certificate of Registration) are required to completed a minimum of three Certificate IV licence units each year.
Class 2 licence holders are required to complete 3 hours of Elective CPD and 3 hours of Compulsory CPD each year (6 hours total).
Class 1 and Class 2 licence holders have the same CPD requirements for the first CPD year only. Following 22 March 2021, Class 1 licence holder will need to complete three hours of Business Skills CPD in addition to Elective and Compulsory CPD (9 hours in total).
More information on these changes can be found on NSW Fair Trading's website.
FAQ: My license expires in June 2020 and I completed 12 points of CPD in November 2019. Is this enough, or do I have to do the compulsory topics before the renewal date this year?
You can use the CPD completed in November 2019 to count as your Elective hours for the first CPD period (23 March 2020 to 22 March 2021), as they had not been used for renewal under the old CPD scheme. This means you only need to complete 3 hours of Compulsory CPD before 22 March 2021. Please note that you can only carry over three hours' worth of CPD for the first year following the reforms.
FAQ: My licence expires in September 2020 and I have not completed any CPD as yet.
CPD must be completed by 22 March 2021. All agents need to complete CPD under the new scheme for this CPD period of 23 March 2020 to 22 March 2021, regardless of when their renewal dates fall.
FAQ: As long as I complete my Compulsory CPD topics and Elective CPD topics between the 23 March 2020 and 22 March 2021, the renewal date of my licence does not matter?
Yes, this is correct.