Settlement agents facilitate the legal transfer of property ownership from the seller to the buyer.
A settlement agent:
- manages the financial transactions,
- prepares legal documents,
- ensures all conditions of the sale contract are met.
There are two ways you can work as a settlement agent in Western Australia, you can:
- hold a Consumer Protection settlement agent licence
- be a certified legal practitioner (conveyancer)
Individual licences
To apply for a licence, you must:
- be at least 18 years old
- be a person of good character and repute
- be suitably qualified
- have access to sufficient assets and financial resources; and
- understand fully your duties and obligations under the Settlement Agents Act 1981
Body corporate and partnership licences
Settlement businesses running as a body corporate or a partnership also require either a:
- Body corporate licence
- Partnership licence
Depending on the size and structure of the business, you will need at least one person has to hold in individual licence.
Unlicensed trading
Anyone who falsely claims to be, or implies they are, a licensed settlement agent may be liable for a penalty up to $100,000 for an individual and $500,000 for a body corporate.
When a licence is not needed
There are a range of agency roles which may not need a licence at all:
- answering the phone
- responding to basic customer queries, and
- coordinating appointments for agents
Applying for a licence or registration
Settlement agent licensing pages on wa.gov.au have further details about:
- Qualification and training requirements
- Applying for a new licence:
- Renewing a licence
Application fees
Information about licence application and renewal fees is available from property industry licensing fees.
Refunds of licensing and registration fees
Application and licence fees are generally non-refundable except in special circumstances. For example, an error in the application process.
Continuing professional development (CPD)
To maintain your licence or registration, you need to complete continuing professional development (CPD) training each year. Compulsory topics change each year.
Training needs to be provided by a Registered Training Organisation (RTO).
Your licence can be suspended if you do not meet your obligations.
Working interstate and mutual recognition
If you have a licence from elsewhere in Australia or New Zealand, you may be able to work in WA under automatic mutual recognition (AMR) or you can apply for licence under mutual recognition.
Need help applying?
If you have any questions about the application process, please phone the licensing contact centre on 1300 304 064 between 8:30am – 4:30pm weekdays.