Is the real estate examination not held by the Estate Agent Authority ? 5 tips for entering the industry

 

1. Real estate examinations are held by PEAK

 

The EAQE and SQE exams are held by the Vocational Training Council’s (VTC) PEAK. VTC PEAK is a statutory organization that provides professional education and training in Hong Kong. It is also an accredited organization that conducts EAQE and SQE examinations.Students who wish to apply for the real estate exam EAQE/SQE should register via mail, on PEAK’s  website or register in person at the PEAK exam center. The exam results are valid for only one year, so after students successfully pass, they must seize the time to find a company to apply for a license.

 

For registration method, please refer to the Real Estate exam Registration Guide: Notes for Real Estate Test Registration

Registration link:

https://www.peak.edu.hk/exam/tc/page.php?id=575661

 

     2. The Estate Agent Authority is the regulatory agency for the real estate industry

 

The Estate Agents Authority (EAA) is responsible for overseeing the compliance of the entire real estate industry, including processing the license applications of real estate practitioners and supervising the real estate business of estate agencies. Therefore, after you enter the industry, you need to pay close attention to the latest news and guidelines of the Estate Agents Authority, and follow the instructions of EAA when it comes to handling all reporting responsibilities, complaint handling, license applications, etc.

 

     3. Requirements for applying for a license

 

In addition to passing the exam, you also need to meet a number of requirements, such as age, education, work experience, criminal record, and financial status, according to the “Fit and Proper” guidelines issued by the Estate Agent Authority, and then apply for a license.

 

Age

Applicants must be at least 18 years old at the time of application.

 

Education 

To become a real estate agent or a salesperson, you only need to complete the form 5 (year 11) or an equivalent if not higher, to meet the requirements. In other words, even if you fail the Certificate of Education Examination (CE) or the Diploma of Secondary Education (DSE), as long as you graduate from Form Five, you are already qualified for the education condition to apply for a license.

 

However, when submitting a license application, students also need to submit one of the following supporting documents:

 

1. Documents issued by recognized educational institutions, such as graduation certificates, transcripts or confirmation letters, etc.

 

1. A certificate of qualification issued by a recognized examination board or assessment institution indicating the subjects passed (e.g. a pass in 5 different subjects in the Hong Kong Certificate of Education Examination (HKCEE).

 

For more detailed information, please refer to:

https://www.eaa.org.hk/en-us/Licensing/Educational-qualifications

 

Or call the hotline of the Estate Agents Authority at 2111 2777 (press 2, 2 after language selection).

 

Real estate examination

Applicants must pass the EAQE or SQE exam within 12 months of the date of applying for the license, and provide proof at the time of application.

 

Candidates will also need to be compliant with “ Fit and Proper “ guidelines, such as recent criminal record or bankruptcy records, former director or senior officer of a company that is disqualified from holding an estate agent license, or mental disorder, will affect the success of the license application.

For details, please refer to: 

http://www.eaa.org.hk/en-us/Licensing/Licensing-requirements/Fit-and-proper-individual

 

     4. Choose exam/license type

You need to make two decisions:

• Should I take the EAQE or SQE exam?
• Should I list as a real estate agent or a real estate salesperson?

 

First you have to choose the appropriate exam.

If you want to become an estate agent, you must take the EAQE, which is also known as the Estate Agent Qualifying Exam.

If you want to become a real estate salesperson, you can take either the EAQE or SQE Salesperson Qualifying Exam, and then become a salesperson.

 

Licenses that can be applied for \\examination	EAQE	SQE
Estate Agent	✓
Real estate salesperson	✓	✓

 

EAQE has more content and functions than SQE. Students who have passed the EAQE can apply for an estate agent’s license. EAQE results can also be used to apply for areal estate salesperson license as well.

 

Then you should decide which license to apply for after the exam:

There are two types of licenses for real estate practitioners: real estate agent and real estate salesperson. Only real estate agents are eligible for sole proprietorship, partnership operation of real estate agency companies, branch managers or directors involved in real estate agency business. Real estate salespersons need to take the EAQE exam to perform the above duties when one wants to become a real estate agent.

 

After becoming a real estate agent, all the duties that a salesperson is eligible to do can also be done by a real estate agent; on the contrary, a salesperson cannot perform all the duties that an estate agent is eligible to perform. 

 

Responsibilities\\License Type	Estate Agent License	Estate Salesperson license
Manager	✓
Estate sales role	✓	✓

 

For more details, please refer to: What is the difference between a real estate agent and a real estate salesperson?

 

      5. How to apply for a license

First of all, you need to read all the requirements that need to be met to apply for a license to ensure that you are qualified to develop a real estate career, after you make sure that you are a suitable candidate to enter the real estate industry; you can then register for the exam and obtain a passing result.

 

Next, you can find a company to hire you to become a broker, or set up a company yourself, and submit a license application to the Estate Agent Authority. 

You can officially start all your real estate business after the license is granted.

 

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