A new individual licensing regime was introduced on 17 November 2009. Anyone wishing to enter the real estate industry must apply to the Real Estate Agents Authority for a licence.
There are three classes of licence:
- Agent - this allows the licensee to carry out real estate agency work on his or her own account (whether in partnership or otherwise)
- Branch manager - this allows the licensee to carry out real estate agency work for or on behalf of an agent
- Salesperson - this allows the licensee to carry out real estate agency work for or on behalf of an agent. A salesperson must be supervised by an agent or a branch manager when carrying out any real estate agency work.
