Real Estate Award Changes – Do You Know Your Rights?
Did you know there is a Real Estate Award?
Are you aware of the changes that came into effect this month?
The Fair Work Commission has made a number of key changes to the Real Estate Industry Award 2010 [MA000106] which is effective from your first pay period on or after 2 April 2018.
The introduction of new employee classifications
The classification levels of staff have been changed to no longer be driven by job title, but rather the skillset of the employee and their responsibilities.
We have outlined a summary of the new Classifications below. However, to view the new award classification details in full Click Here.
|New Classification||Indicative Job Titles||Classification skills|
|Real Estate Employee Level 1 (Associate Level)||An employee at this level is principally engaged to assist and work under the supervision of an employee(s) at a higher level. An employee at this level will not have responsibility for listing and/or selling of real property or businesses or managing rental or strata/community title properties.|
|Real Estate Employee Level 2 (Representative Level)||May perform any of the duties of a Real Estate Employee Level 1 (Associate Level) but will also have responsibility for the listing and/or selling of real property or businesses, for helping clients to buy real property or businesses or for managing rental or strata/community title properties or for sourcing and/or securing new property managements (including strata title managements).|
|Real Estate Employee Level 3 (Supervisory Level)||May perform any of the duties of a Real Estate Employee Level 2 (Representative Level) but will also have responsibility for the allocation of duties, coordinating work flow, checking progress, quality of work and resolving problems of an employee(s) at a lower level.|
|Real Estate Employee Level 4 (In-charge Level)||May perform any of the duties of a Real Estate Employee Level 3 (Supervisory Level). The employee at this level will hold applicable qualification(s) under real estate law and have been appointed by the employer to be responsible for ensuring the business complies with its statutory obligations under real estate law.|
Changes to Minimum Wages
The minimum wages have also been increased. The following table outlines the new minimum weekly pay rate for the Real Estate Award:
|Classification||Weekly Pay Rate|
|Real estate employee level 1 (associate level) – first 12 months at this level||$728.20|
|Real estate employee level 1 (associate level) – after first 12 months at this level||$768.60|
|Real estate employee level 2 (representative level)||$809.10|
|Real estate employee level 3 (supervisory level)||$890.00|
|Real estate employee level 4 (in-charge level)||$930.50|
To view the new award wages in more detail Click Here.
Changes to Commission Only Payment
There have been a number of changes made to commission only employees under the Award, including the eligibility rules and the introduction of a minimum gross employer’s commission only rate of 31.5% replacing the previous net commission only rate.
The Award now states that any employee on commission only must at least earn 125% of the minimum wage for their respective classification.
To view the full details of commission only regulations, Click Here.
Changes to Allowances
The allowances have been amended to include reimbursement of motorcycle and bicycle use required for work purposes plus the addition of mobile phone use for work. A breakdown of the allowances is below, however to view the full details of allowances Click Here.
Whether your looking to get into the industry, currently an employee within the industry or an owner of a real estate agency, you need to be aware of the new award legislation. We encourage you to become familiar with all areas of the award via the above links or by contacting Fair Work directly
If you would like to upgrade your qualifications or obtain your real estate entry level course, Click Here for more information on what is course is right for you or call us on (07) 3193 5270 and speak with one of our friendly staff.