Now let's discuss the issues that have been upsetting everyone recently and the actual adjustments that have been made for the real estate professional certificate on each continent.
Today, we'll begin with Victoria, where the prerequisites for obtaining a real estate certificate were merely being 18 years of age or older and having a clean financial record. After finishing three units of coursework, students can become qualified real estate agents and start working for agencies that have opened a variety of related real estate businesses. The three modules cover leasing, buying, and legal requirements for property.
The 18 modules of the Level 4 Certificate, which take 52 weeks to complete if studied part-time and are more specialised and in-depth, have taken the place of the 3 modules of the Certificate of Practice starting in October 2021. Professional Property Operations, Legal Compliance Operations, Trust Funds, Property Valuation, Property Market Development, Selling Property, Rental Property, Rental Management Closing Operations, Auction Management, etc. are some of the modules that fall under this category. Students will graduate from the programme with the credentials of a true real estate professional.
After completing these classes, you can also practise real estate professionally. So, your question is: Will the three modules I received earlier expire? The answer is that you will not be able to use the previous certificate if you do not work in the real estate industry within 5 years of receiving it. Don't waste their hard-earned degree by looking at the certificate time on the hand before the entire 5 years of real estate job.
Let's talk about the previous Certificate IV, which is the necessary academic credential if you want to start a real estate business and apply for a licence. Students only need to get the original Certificate IV before October 2021; why is the original it? You can then apply for an agency licence and create an agency with the required 2 years of work experience because the prior Certificate IV requires 21 units.
However, since October of last year, the Victoria licence application department has made the necessary adjustments to the big certificate requirements. The original level 4 certificate has been changed to the new level 4 certificate with a college certificate. 18 units plus 12 units, then. If I want to start a business, I required.
So let's take a look at the courses we need to take to earn the diploma: enhancing property business plans, coordinating labour distribution, supervising and managing trust funds, managing legal operations, managing a safe working environment, managing a property team, managing property financial operations, and other professional business courses. The course is clearly a management course that teaches us how to run an agency, yet it still has a very realistic and grounded pace.
Then you must be asking yourself again: if I already have a certificate with three units, believe I am more suited to the real estate business, and intend to earn a larger certificate, is it sufficient to have a diploma in addition to a college diploma? No, unless I already possess the previous 21-unit Level 4 certificate, in which case I still need to finish the current Level 4 certificate and the Diploma.
After hearing my justification, what are your own opinions on the reform of the property professional certificate? Please share them in the comment area below to contribute to the topic.
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