Trust accounting, client identification verification and disclosure of property interests - CPD 2014 for real estate agents
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Manual and assessment for mandatory CPD 2014 for real estate agents and business brokers.
You should download and read the manual before doing the assessment. The manual is a handy reference and will help you answer the assessment questions.
Complete the online assessment (10 questions).
Trust accounting, Client idenitification verification and disclosure of property interests
- Welcome to Mandatory CPD for 2014
- Overview of trust accounting requirements
- Overview of licensee’s key responsibilities
- Examples of non-compliance – trust accounting breaches
- Preventative measures/ best practice
- Activity 1 Q and A
- Client Identification, verification and security of documentation
- Verify identity of sellers before entering into a contract or lease
- Requirement to set up means of verifying lessor instructions are genuine
- New Landgate ‘Verification of Identity Practice’ re Transfer of Land (VOI)
- Importance of security measures and high awareness of risk
- Activity 2 Strategies to verify identify and safeguard identity documents
- Disclosure of Property Interests
- Defining Property Interest
- Why Property Interests are Important
- The DOC expects agents to use the Property Interest Report
- Code of Conduct.
- Overview of Property Interest Report
- Processes/procedures for agents
- Activity 3 Risk mitigation and the Property Interest Report
- Activity answers
- App 1: Property Interest Report
About the manual
© 2014. Department of Commerce WA
All rights reserved. This training resource manual has been developed and produced through a collaborative approach with key stakeholders within the Real Estate Industry.
This work is copyright, and as such no part of this publication may be reproduced, transmitted or stored in a retrieval system, in any form or by any means, without prior written permission of the copyright holder.
Published by: Department of Commerce
Developed by: REIWA Learning
Reviewed by: Department of Commerce and REIWA Learning
First Published: January 2014
Version Number: v1
The subjects to be covered in this activity are:
- Overview and update of trust accounting requirements;
- Client Identification Verification (CIV) and security of documentation; and
- Disclosure - Property Interest Report.
Any questions arising out of this training please contact the CPD team at Consumer Protection on 1300 304 054 or by sending an email.
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