Guidance for newly licensed salespersons
This page provides new salespersons with important information they need when they start their real estate career.
Topics covered on this page
The Real Estate Agents Act 2008
The purpose of the Real Estate Agents Act 2008 (the Act) is to promote and protect the interests of consumers engaged in real estate transactions and to promote public confidence in the performance of real estate agency work.
To achieve this, the Act regulates real estate agents, branch managers, and salespersons and provides accountability through a licensing regime and disciplinary process that is independent, transparent and effective.
Read the Real Estate Agents Act 2008 here.
Code of professional conduct and client care
The Real Estate Agents Act (Professional Conduct and Client Care) Rules 2012 (Code of Conduct) set out the standard of professional conduct and client care required of agents, branch managers and salespersons.
It is important to note that the Code of Conduct must be read in conjunction with the Real Estate Agents Act 2008 and accompanying regulations and that it does not repeat the duties and obligations that are included in the Act and regulations.
The Code of Conduct applies to all aspects of real estate agency work and will be used as a reference point for disciplinary action.
Read the Code of Conduct here.
Evidence of your licence
Members of the public can also check your details on the online public register of licensees. Your licence number is recorded on your evidence of licence, please include this in any correspondence with us.
You have been sent a digital copy of your evidence of licence but you can also log in to the licensee portal to download it. It is a good idea to save a copy of this to your smartphone.
Your supervision requirements
Salespersons must be supervised whether or not the salesperson is engaged as an employee or as an independent contractor. Agents who engage a salesperson as an independent contractor are still liable for the acts and omissions of the salesperson in the same manner, and to the same extent, as if they were an employee (section 51(3) of the Act).
Once your supervisor is satisfied that you are conducting real estate agency work in a competent and legal manner they can allow you more latitude.
Read more about supervision here.
Six-month sale and purchase agreement probation
A newly licensed salesperson (who has less than six months of real estate agency work experience) cannot prepare sale and purchase agreements or advise either clients or customers about legal rights and obligations incidental to the preparation of these agreements
Continuing professional development (CPD)
Continuing professional development (CPD) helps reinforce knowledge and addresses topical issues, trends and legislation changes. CPD contributes directly to raising industry standards by ensuring licensees understand their role and the rules and regulations so they can carry out their work accordingly.
Licensed real estate professionals must complete at least 20 hours of CPD each year by 31 December. If you are unsure of your CPD requirements please contact us.
Read more about your CPD obligations here.
Guides for buyers and sellers
- The agency agreement guide must be given to all individuals entering into an agency agreement for residential property with an agent before they sign the agreement.
- The sale and purchase agreement guide must be given to both the buyer and seller before they sign a sale and purchase agreement.
You must also get each person to sign an acknowledgement that they have received the appropriate guide.
Learn more about these guides here.
Updating your details with us
Changes of circumstances you must inform us about are:
- any change in your contact information such as business or home address or phone numbers
- any changes to your name
- a move to a different agency/branch or a change in the real estate business you work for
- anything that causes or may cause you to become prohibited from holding a real estate licence
- anything that may result in you no longer being a fit and proper person to be licensed as an agent, branch manager or salesperson
- any change required as set out in the Real Estate Agents (Licensing) Regulations 2009.
Failure to notify us of a change of circumstance may result in your details appearing incorrectly on the public register or you not receiving important communications from us.
Read more on managing your licence here.
Renewing your licence
You must apply to the Registrar to renew your licence each year before it expires. Providing your renewal application is received by the expiry date you will be able to continue working in the industry until a decision has been made on your application.
Read more on renewing your licence here.
Suspending your licence
You must not carry out any real estate work while your licence is suspended and you cannot suspend a licence retrospectively.
We do not refund the balance of your licence levies when you suspended your licence. However, any time remaining on your licence will be held in credit until you return to the industry.
Read more about suspending your licence here.
REA's settled.govt.nz helps guide consumers through the home buying and selling process. Settled.govt.nz provides comprehensive independent information and guidance for home buyers and sellers.
We encourage all licensees – and especially those working in the residential sector – to share settled.govt.nz or individual pages on the site with consumers (both buyers and sellers). Consumers will be better informed, make better decisions and have fewer issues, which means they make fewer complaints. You'll benefit by being seen to share relevant, professional, independent information with them.