The recovery of the real estate market brought about a corresponding increase in the number of new and renewal applications for estate agent licences.

Pursuant to Section 13 of the Estate Agents (Licensing) Regulation, an application for the renewal of a licence shall be made not more than three months and not less than one month prior to the expiration of the licence (eg, a licensee whose licence shall expire on 31 December should apply for the renewal of his licences between 1 October and 30 November). However, some licensees do not apply for renewal of their licences during the stipulated period and consequently fail to obtain the new licences before the expiration of their licences. Under the normal circumstances (where the application is correctly and completely filled out, the applicant has paid the prescribed fees, submitted all necessary documents and fulfilled all the licencing conditions), the renewal application can be processed within three weeks.

An individual or a company carrying on estate agency work in Hong Kong is required by law to hold a valid licence. All licences and Statements of Particulars of Business are valid only within the period stipulated thereon. They became immediately invalid upon expiry. It is a criminal offence to engage in estate agency work without a valid licence.

Currently, the licences of the majority of licencees expire in November, December and January every year. The Authority encourages licencees to submit applications for renewal of licences within the stipulated period to ensure renewal of their current licences before expiration, so that their practice will not be affected lest their practice be jeopardised.