You will require this licence if you intend to practice as a real estate settlement agent or business settlement agent. A real estate settlement agent manages the purchase and sale of property. Business settlement agents manage the purchase or sale of businesses and their stock, premises and licences.
There are three different categories of this licence:
- Sole trader;
- Firm / partnership; and
You may not require this licence if you or all agents in your organisation are certified legal practitioners or licensed real estate agents or business agents. Please consult the Contact Officer for more information.
A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.
To be eligible for this licence, you must:
- Be over the age of 18 years;
- Be a person of good character and repute and a fit and proper person to hold a licence;
- Have sufficient material and financial resources;
- Be a resident of Western Australia;
- Understand the full duties and obligations of a settlement agent;
- Hold the prescribed academic qualifications;
- Not be an undischarged bankrupt;
- Have sufficient practical experience in effecting settlements (not less than two years);
- Submit the required forms; and
- Pay the required fees.
Please consult the Contact Officer for more information regarding eligibility requirements.
Certificate must be renewed every three years.
Individual licence plus a mandatory contribution to the Fidelity Guarantee Account of $150.
Partnership or body corporate licence plus a mandatory contribution to the Fidelity Guarantee Account of $150.
Plus a mandatory contribution to the Fidelity Guarantee Account of $150.
Approximately 6 to 8 weeks.
Department of Commerce
Settlement Agents Act 1981 (Western Australia)
Settlement Agents Regulations 1982 (Western Australia)
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