Real estate licensing + agents in New South Wales
State-by-state real estate agent licensing, trust accounts, underquoting, sales practices + Property + Stock Agents Acts.
5
NSW-specific obligations
5
Federal obligations
NSW-specific
NSW + VIC solicitor trust account requirements
Solicitors holding client trust money face strict trust account + audit requirements.
Hold valid liquor licence (state liquor licensing)
Liquor sale / supply requires state-issued licence; multiple categories.
Hold state-issued gambling licence (operator + venue)
Wagering, casino, gaming machine + lottery operators require state-issued licences with operator probity.
Underquoting prohibition (NSW Property and Stock Agents Act 2002)
NSW real estate agents must not underquote — Maximum penalty $22,000.
Strata Schemes Management Act 2015 (NSW)
Strata schemes must comply with budget, AGM, sinking fund + management requirements.
Federal
Trust account audit + ASIC / state regulator submission
Holders of client trust accounts (real estate, legal, conveyancing) must lodge annual audited accounts.
Hold a current real estate agent licence (state-specific)
Selling agents must hold a current licence issued by their state fair trading regulator.
Payment Service Provider (PSP) licensing reform — implementation pending
Treasury reform of payments licensing to capture digital wallets + Buy Now Pay Later + stored value.
Crypto Asset Secondary Service Provider (CASSPr) licensing reforms
Treasury consultation 2024 on bespoke crypto licensing — separate from AFSL.
Hold a High Risk Work Licence for HRWL classes
Forklift, crane, scaffolding, dogging, rigging, EWP and other high-risk work requires a HRWL.