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Closing date: 15 March 2023
The Continuing Professional Development (CPD program) seeks to increase the knowledge, skills and professionalism of real estate and settlement agents by delivering ongoing education on relevant and necessary topics. The aim of CPD is to make licensees aware of their licence obligations to protect consumers and promote consumer confidence in the real estate and settlement industries.
Since 2011, Consumer Protection (CP) has funded the mandatory units for real estate agents and the mandatory and prescribed elective units for settlement agents from the industry Education and General Purpose (E&GP) accounts created under the Real Estate and Business Agents Act 1978 (REBA Act) and the Settlement Agents Act 1981 (SA Act).
There has been a significant drop in the amount of interest generated by the industry E&GP accounts since the 2019–2020 financial year, resulting in a subsequent drop in total revenue. This has put significant pressure on the funding of CPD. Consequently, an internal review of the CPD program was undertaken as a priority in 2022.
The purpose of the consultation paper is to consult on proposals arising from an internal review conducted by CP of the CPD Program.
The review found:
The consultation paper discusses the alternative options to the current CPD Program for providing for professional currency in the property industries in Western Australia (WA), which include:
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