Things Needed To Know About Registration to Work as a Real Estate Agent

An agent’s representative works for or is employed by a licensed estate agent, and with written approval, can undertake any of the estate agent’s legal functions. An agent’s representative can work as a salesperson or a property manager, but they cannot run an estate agency. To work as an agent’s representative, people do not need to apply. Rather, their employer must verify that they are qualified to act as an agent’s representative and they must have Agents Representative Certificate as well.

People who want to work as an agent’s representative must meet certain requirements:

  • Must be at least 18 years old.
  • Have completed the Estate Agents Regulations-required course.
  • Within the last ten years, they have not been convicted of any crime involving fraud, dishonesty, drug trafficking, or violence punishable by three months or more in prison.
  • Under administration, they must not be insolvent.
  • Not be the subject of a successful claim against the Victorian Property Fund or a similar fund.

To attain the goal of regulating and standardizing the real estate sector to make it more transparent. Real estate agents must obtain a registration certificate from the Authority under the Act and the Rules promulgated thereunder. According to the authority, real estate agents will be held liable for any problems in the project and maybe prosecuted for any business misconduct. From the date of receipt, the registration certificate is valid for 5 years. If the agent violates the rules, it might be revoked before the period ends.

 It is quite needed to do Registration to work as a Real Estate Agent. The agent must also apply for such registration with the authority by paying a fee and providing the appropriate documentation within a particular time frame. The authorities may approve registration if they are satisfied that all of the authority’s requirements have been met. The authorities may grant a real estate agent applicant a single registration for the entire State or Union Territory. The authorities are supposed to keep track of the reasons, and such rejections cannot be made without giving the applicant a fair chance.

Any transaction that the real estate agent assists must include their registration number. Any registration that has previously been provided to any real estate agent by the terms of the act is also given under the authority Act. Such registration will be valid for the specified period and can be renewed by paying the relevant fees after the period specified by the rules has passed.

It is also stated that any real estate agent who violates any of the act’s conditions or rules may have their license withdrawn by the Authority. If the authority suspects that such a registration was obtained through deception or fraud. The authority has the jurisdiction to revoke any such real estate agent’s registration or to suspend any such real estate agent for a certain period. This authority also comes with the provision that the real estate agent in question must be given a fair opportunity to be heard before any action is taken against them.

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