17 November 2009
The Real Estate Agents Licensing Board is no longer the licensing body for the Real Estate Industry. The Real Estate Agents Act 1976 is replaced by the Real Estate Agents Act 2008. All applications and enquiries should now be made to the Real Estate Agents Authority ["REAA"] You can contact the REAA on 0800367732 or www.reaa.govt.nz
The information on this site is being retained for historical purposes only and should in no way be treated as the current requirments for licensing
To sell real estate in New Zealand you must first be approved by the Real Estate Agents Licensing Board to hold a certificate of approval as a real estate salesperson.
The definition of “salesperson” means a person who, being employed or engaged by a real estate agent, works for the agent in selling or otherwise disposing of land or business, or letting or leasing land.
Who is eligible?
To be eligible for approval as a real estate salesperson under the Real Estate Agents Act 1976 you must satisfy the Real Estate Agents Licensing Board that:-
- You have passed the examinations prescribed by the Real Estate Institute of NZ Inc (“REINZ”)
- You are a fit and proper person to be employed as a real estate salesperson
Related information
Examinations
The examinations required to be completed for a new salesperson are prescribed by the REINZ. The course can be done by correspondence, online, or by attending classes by one of the providers accredited by the REINZ.
You must have sucessfully completed the examinations prior to your employer applying for approval
Click here for course providers
Fees
The fee payable to the Board varies depending on the time the application is made.
| 1 March to 31 August | $78.75 (GST inclusive) |
| 1 September to 28 February | $39.38 (GST inclusive) |
Currently a fee of $540.00 (GST inclusive) is also payable to the REINZ who must be provided with a copy of your application.
Criminal Convictions
A police report is completed on every application and if a criminal record is disclosed you may be asked for an explanation and/or you and your employer may be required to attend a hearing before the Board. The Board must be satisfied that in the interest of the public you are a fit and proper person.
If you have any criminal convictions, you are not required to provide the Board with any information in the first instance, as any record you have may be concealed if you meet the eligibility criteria stipulated in Section 7 of the Criminal Records (Clean Slate) Act 2004.
References
You will be required to provide the name and address of two referees. The people you nominate must have known you well for over twelve months and not be related to you. The referees must be independent of the application and therefore they should not be working in the same office or live at the same address as you or each other.
How long will it take?
Under the Act the application cannot be heard or considered until 14 clear days have passed from the time a copy of the application is received by the REINZ.
What causes delays to the application?
- Most delays are avoidable. Please ensure that you complete every question. Anything you do not complete (such as date of birth or drivers licence number) will require a follow up and delay your application.
Ensure you have:-
- Provided your full legal name. Any nickname or English name should be included in (brackets)
- Provided the correct residential address for your referees and check that they are available to complete the reference form that will be posted to them.
- Provided employment details covering the full three year period from the time you make the application, including any unpaid periods such as study, sick leave, self employment or unemployment. Please include the month and year for each entry eg. 8/05 – 12/06
Can I make my own application?
No. An application can only be made by the licensed real estate agency for whom you are going to work.
HOW DO I APPLY to become a branch manager?
17 November 2009
The Real Estate Agents Licensing Board is no longer the licensing body for the Real Estate Industry. The Real Estate Agents Act 1976 is replaced by the Real Estate Agents Act 2008. All applications and enquiries should now be made to the Real Estate Agents Authority ["REAA"] You can contact the REAA on 0800367732 or www.reaa.govt.nz
The information on this site is being retained for historical purposes only and should no longer be treated as current
After the completion of three years practical experience in the real estate industry and further examinations you may be eligible to apply for approval as a real estate branch manager.
Click here for further exam information
Who is eligible?
In most cases to be eligible you must satisfy the Board that:-
- You have reached the age of 20 years
- You hold a current certificate of approval as a real estate salesperson
- You have completed the required branch manager examinations or higher
- You have had in the preceding five years, at least three years practical experience in real estate agency work
- You are a fit and proper person to be employed by an agent as a real estate branch manager
For other criteria under which eligibility can be claimed please contact the Boards office on 09 5206949
HOW DO I APPLY for a real estate agents licence?
17 November 2009
The Real Estate Agents Licensing Board is no longer the licensing body for the Real Estate Industry. The Real Estate Agents Act 1976 is replaced by the Real Estate Agents Act 2008. All applications and enquiries should now be made to the Real Estate Agents Authority ["REAA"] You can contact the REAA on 0800367732 or www.reaa.govt.nz
The information on this site is being retained for historical purposes only and should no longer be treated as current
The Act defines the meaning of “real estate agent” as anyone who acts, or who holds himself or herself out to the public as ready to act for reward as an agent in respect of the sale or other disposal of land or business or the purchase or other acquisition of land or business or in respect of the leasing or letting of land whether or not that person carries on any other business.
- A real estate agents licence can be obtained by either an individual person or a limited liability company.
- All directors in a company must be eligible to hold a licence in their own right.
- The application must be advertised twice in your daily newspaper, at an interval of no more than 14 days apart. This is to allow for any person (other than the Institute) to lodge an objection to the application within one month from the first advertisement
- The application cannot be heard or considered by the Board until one month has passed from the date a copy of the application is lodged with the office of the REINZ and a certificate of compliance issued from that office confirming that you have:
o Paid to the REINZ all fees payable in respect of the application under the rules of the REINZ
o Paid a contribution to the Fidelity Guarantee Fund as required by S.76 of the Act.
o Given notice of the appointment of an auditor of the trust account.
Who is eligible to apply for :-
Individual licence
To apply for an individual real estate agents licence you must satisfy the Board that you have:-
- Attained the age of 20 years
- Completed the required examinations prescribed by the REINZ
- Have three of the preceding five years practical experience in real estate agency work
- Be by reason of your personal character and financial position, a proper person to hold a licence
If you choose to hold an individual licence you cannot trade through a company.
Company licence
For a company to apply for a licence it must satisfy the Board that:-
- The officer/s of the company has/have attained the age of 20 years
- The officer/s of the company has/have passed the examinations prescribed by the REINZ
- The officer/s of the company is/are not, by reason of his or her personal character or financial position, a proper person to be an officer of a licensee company
- That the company has a fully paid up capital of not less than $50,000 for cash consideration
You are not eligible to hold a real estate agents licence under the Real Estate Agents Act 1976 if you:
- Are an un-discharged bankrupt
- Hold a practising certificate as a barrister or solicitor of the High Court of New Zealand
Related information
No company shall apply or obtain a licence under this Act if the officers of the company (the directors) are not eligible to apply or obtain a licence in their own right. (S.30)
Effective Control
The principal officer of the company must be in effective control of the principal place of business of the company (S.54(1)). “Effective control” means that the principal officer must personally supervise, manage and control the real estate agency business at the principal place of business, and he/she must work actively and substantially at or from that place (S.2).
There are situations where the principal officer holds no shares or not sufficient shares to enable him/her to control the company. The Act does not prohibit such a share holding structure, but still places a clear obligation on the principal officer to maintain effective control of the real estate agency business.
Evidence that the company, its shareholders and the principal officer recognize this obligation is required to be provided to the Board by way of an employment agreement between the principal officer and the company, including an acknowledgement by the shareholders that effective control is vested in the principal officer.