The Estate Agents (Licensing) (Amendment) Regulation 2001 has been passed by the Legislative Council and will take effect on 1 January 2002. The amendments aim to provide more flexibility to the licensing requirements and to reduce the licence fees. Practitioners' attention is drawn to the following :

Re-entry into the Trade within 24 months

If a person holds or has held a fully substantiated licence (i.e., one without any examination/training condition attached thereon or, if there is such condition, he has passed the relevant examination or completed the specified training course on or before 31 December 2001), then he may apply for a licence within 24 months from the expiry of his last licence without having to fulfil the educational and examination requirements again, provided that he has still to fulfil other licensing requirements such as the fit and proper criterion.

Switching of individual licences

If a person holds or has held a fully substantiated estate agent's licence, then he may apply for a salesperson's licence without having to pass the salesperson qualifying examination.

If a person holds or has held a fully substantiated salesperson's licence, then he may apply for an estate agent's licence provided that he has at any time passed the estate agent qualifying examination or, being a senior practitioner, completed a prescribed training course for estate agents on or before 31 December 2001.

Switching of individual licences is subject to the 24-month stipulation in paragraph 1 above.

24-month licence validity period

An applicant for the grant of a licence or for the renewal of licence may opt for, in addition to the 12-month validity period, a 24-month validity period.

Reduction of licence fees

The licence fees are reduced by 30%. The new fees are as follows :

新牌費 New Fees (HK$)     12個月/ 12 months 24個月/ 24 months   營 業 員 牌 照 Salesperson's licence 1,280 2,510   地 產 代 理 ( 個 人 ) 牌 照 Estate agent's (individual) licence 2,010 3,930   地 產 代 理 ( 公 司 ) 牌 照 Estate agent's (company) licence 2,800 5,460   營 業 詳 情 說 明 書 Statement of particular of business 2,120 4,140

Display of information on documents and advertisements

Licensed estate agents need not state their names on their documents and advertisements. However, they are required to state the following on any letter, account, receipt, pamphlet, brochure or other document issued by them :

1. business name (not the name of the licensee);
2. licence number OR statement of particulars of businss number; and
3. business address.

Licensed estate agents are required to state item (i) and (ii) above in any advertisement issued by them which is not in the form of a pamphlet or brochure.