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

Licensing

If you hold a real estate agents licence in New Zealand you must be aware of the requirements of the Real Estate Agents Act 1976.  Even if your licence has been approved under the Trans Tasman Mutual Recognition Act 1997, you are still subject to New Zealand law and must comply with it.

Any change to your licence will require the approval of the Real Estate Agents Licensing Board.

Application must be made for the following:-

• Engagement of salesperson
• Engagement of branch manager
• Change of address of licence
• Additional place of business (new branch office)
• Change of name of business
• Change in directorship/principal officer

Engagement/employment of a salesperson

• To employ or engage a salesperson under your licence you will need to establish if this person holds a current certificate of approval.  If you are unsure, you can phone the Board’s office to confirm the status of the certificate prior to employment.

If current certificate held

• Complete request to transfer form
• Forward the application to the Board’s office together with the prescribed fee
• Please ensure that the full legal name and residential address of the salesperson are included on the form
• The original signature of the licensee/principal officer is required before processing can commence
• Download Form

If no current certificate held

• Application for approval as a real estate salesperson will be required.
• (Form 11/11a is not available online, if you require further supplies, please contact the Board’s office)
• The application will take a minimum of 14 days
• In accordance with S.42 of the Act, no real estate activity should be undertaken by the intended salesperson until a new certificate of approval is granted.

Custody of certificates

• When a salesperson leaves your employment you are required to return the certificate of approval to the Board’s office within 7 days.  S.50(2)

Engagement of a branch manager

• Every additional place of business (branch office) must be under the effective control of an approved branch manager.

If current certificate held

• Complete engagement of branch manager form
• Download Form

If no current certificate held

• Completion of branch manager application form will be required.
• As every branch manager is also required to hold a certificate of approval as a real estate salesperson, this application may also be required.
• Download Form

Change of Address

• A change to the physical address recorded on your licence requires the approval of the Real Estate Agents Licensing Board.
• The application will take a minimum of 14 days from the date a copy of the application is received by the REINZ.
• The application should be made prior to the relocation of your licence
• Download Form

Additional place of business:

• S.27 of the Act prohibits the carrying on of business at a place not specified on the licence.
• When making application for the approval of a new branch office you will also need to nominate the branch manager to be in effective control.
• The application will take a minimum of 14 days from the date a copy of the application is received by the REINZ.
• Download Form

Change of trading name.

• No licensee shall carry on business as a real estate agent under any name that is not first approved by the Board.  (S.25 of the Act)
• Application can be made to have a trading name in addition to the name of the licence holder (Individual or Company)
• Similarly a company may apply to the Board for a change of company name
• Application is made by way of writing to the Board requesting the change and a copy of the request must be forwarded to the National Office of REINZ
• The prescribed fee is $56.25 (GST inclusive)
• Any change to the company name should not be completed with the Companies Office until the approval of the Board has been granted.

A name cannot be approved by the Board if it:

• Considers the name so nearly resembles the name of any other person, firm, or company carrying on business as a real estate agent in or outside New Zealand as to be likely to deceive, or that the name is that of any person, firm, or company
  
  o    Whose licence has been surrendered under S.31 of the Act
  o    Whose application for a licence has at any time been refused
  o    Who is not eligible to hold a licence under this Act

Franchise names

• The association of a licence with a franchise group or marketing network can be approved and is treated the same as a change of name.
  As there are strict precedent guidelines for the approval of franchise associations please contact the Board’s office for further information.

Change of Principal Officer or Director

• On approval of the Board, a new principal officer of a licensed real estate company can be appointed or a new director added so long as they are eligible to hold a licence in their own right.
• Application for both these appointments is completed by the current principal officer.
• Application should be lodged with the Board and the REINZ, 14 days prior to a scheduled Board meeting. (meeting dates 2009)
• Download Form