Education requirements


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Education requirements

Education requirements 

1. Duration and Level

A post-secondary course which will normally lasts minimum six (6) semesters equivalent to 180 ECTS (*) in a high vocational school, business school or university.
The following may also be taken into consideration: an equivalent programme of minimum 180 ECTS in a high vocational school, business school, university, or in a school awarding a diploma of company manager, or in a post-secondary school for social advancement, or an equivalent course delivered on a part-time or distant learning basis.
On successful completion, there will be a diploma, certificate or other evidence of formal qualification, awarded by a State recognised Body or education Establishment designated in accordance with its own laws, regulations or administrative provisions.

(*) ECTS : European Credit Transfer System
For national or policy reasons, one may, in addition, express references in hours.

2. Modules

Law minimum 30 ECTS
National legal system, contracts, taxation, commercial, property planning, land law, all other relevant matters of legal nature, basic understanding in relevant European legal system (Treaty of Rome, Maastricht, Amsterdam, Nice) and functioning of the EU bodies

Economics minimum 7,5 ECTS
National economics, basic understanding of European economics, provision of knowledge on the function and operation of economics, local and national taxation, understanding of investment and finance criteria, accounting procedures

Practice Knowledge minimum 30 ECTS
Office procedures, information technology, quality assurance, marketing, structure and operation of the real estate market, real estate transactions, communication, business ethics, code of conduct, consumer protection

Technical minimum 7,5 ECTS
Methods of building construction, identification of building styles and finishes, interpretation of drawings, services, environmental factors, building regulations and town planning, health and safety in the workplace

Valuations minimum 7,5 ECTS
Theory and framework of valuation methods, principles of investment pricing, valuation appraisals, approved European valuation standards

Business Management minimum 7,5 ECTS
Communication and practices of management, business accounting, marketing, data processing and data banks.

The abovementioned ECTS cover half of the 180 ECTS required. The dissertation is included in the programme, with 15 ECTS.

3. General Guidelines

- The foregoing are minimum requirements.
- PAC Member Associations must provide the above minimum educational requirements for their individual members to ensure compliance with the PAC resolution by December 31, 2004.
Since January 1, 2005 new member associations are required to fulfil these requirements within three years of admission as a member of PAC.
- All PAC Member Associations will require individual members to attend seminars, lectures, courses and professional meetings to update their knowledge of all aspects of the real estate profession.
If required, evidence of attendance will be obtained.