Each year, real estate professionals must obtain seven Elective CPD points, as part of the 10 required CPD points needed to maintain their license.

Run as a classroom course, this 3.5 Point Elective CPD is designed for both Sales Representatives, Licenced Agents or Property Managers looking to better understand key aspects of human behaviour and social psychology.

Using a variety of strategic tactics we are able to push or prompt action in a positive manner to achieve the best outcome, and by understanding people better, we can work more effectively with them. Influence is the ability to modify how a person develops, behaves, or thinks based on relationships and persuasion; often leading to respect.

Designed by Aspire's Industry Experts, Introduction to Trust Accounting will discuss topics such as:

• General financial practices

• Overview of trust accounting and how this aligns with the real estate industry

• The process of managing trust accounts

• Record keeping process for trust accounts

• How to prevent theft and fraud within trust accounting

What is Trust Accounting?

Trust accounting is a process of managing and keeping track of client funds held in trust accounts. Real estate professionals often hold client funds in trust accounts for various reasons, such as property management, rental income, or sale proceeds. The trust accounting process involves maintaining accurate and detailed records of all transactions and ensuring compliance with state and federal regulations.

Why is Trust Accounting Important?

Trust accounting is crucial for real estate professionals to maintain the trust and confidence of their clients. Mishandling or misappropriating client funds can lead to severe legal and financial consequences, including fines, suspension or revocation of licenses, and even criminal charges. By understanding trust accounting, real estate professionals can protect themselves, their clients, and their reputation.

The Introduction to Trust Accounting CPD course is designed to provide real estate professionals with an overview of trust accounting principles and practices.

The course is designed to be informative and practical, with real-life examples and case studies. Real estate professionals who complete the course will gain a better understanding of trust accounting and be better equipped to manage trust accounts.

Benefits of the Introduction to Trust Accounting CPD Course:

1. Enhance skills: The course provides real estate professionals with essential knowledge and skills to manage trust accounts effectively.

2. Meet regulatory requirements: Real estate professionals are required to complete a certain number of CPD hours to maintain their license. The Introduction to Trust Accounting CPD course meets regulatory requirements and helps professionals stay up-to-date with industry regulations.

3. Boost career prospects: Real estate professionals who have completed the Introduction to Trust Accounting CPD course are more attractive to employers and have better career prospects.

4. Protect clients and reputation: By understanding trust accounting, real estate professionals can protect themselves, their clients, and their reputation.

With the overall goal to increase consumer protection and increase public confidence that the real estate industry in Western Australia operates with integrity, exemplary standards of consumer protection and professionalism, these courses also allow professionals to stay up to date with the latest technologies, legislation and skills for increased success and reduced risks.

Our Elective CPD sessions also provide professionals with the opportunity to learn new skills and network with other industry professionals.