Will the Trans-Tasman Mutual Recognition Arrangement (TTMRA) still apply under the licensing regime under the new Act?
The TTMRA will continue to apply to real estate licensing. A person who is eligible to be licensed under the TTMRA will need to apply to the Real Estate Agents Authority for the appropriate licence. However, anyone applying for a salesperson's licence under TTMRA on the basis of New South Wales Registration does have to meet the additional requirements outlined below.
You can download the application pack below. An application fee will apply.
- Application pack for Trans-Tasman Mutual Recognition Arrangement [PDF, 254.17kb]
Application for salesperson's licence under the TTMRA - on the basis of New South Wales Registration.
The Real Estate Agents Authority (REAA) has decided there is no equivalence of occupation between New Zealand and New South Wales in relation to the activities a real estate salesperson is authorised to carry out. In particular, real estate agents and salespersons in New South Wales are not authorised to prepare agreements for the sale and purchase of land or a business.
Therefore, applicants from New South Wales must also apply comply with the following conditions in order to achieve equivalence of occupation.
- Applicants are required to complete Unit Standard 23137 (Demonstrate knowledge of the sales and purchase agreement and facilitate sale of real estate). This needs to be completed within 6 months of being issued a licence by the REAA.
- Once licensed the applicant will be prevented from:
(a) preparing any agreement for sale and purchase of land or any interest in land or of the goodwill of a business or of chattels; and
(b) giving advice about legal rights and obligations that is incidental to the preparing of an agreement of the kind referred to in paragraph (a) until they have had the 6 months experience as a licensee required by s36 of the Lawyers and Conveyancers Act 2006.
It is the responsibility of the licensee to provide the REAA with a certified copy of their academic record, confirming the successful completion of Unit Standard 23137, within 6 months of the date of issue of the licence.
