Hong Kong Estate Agent Licence (E Paper) — EAQE Exam Guide

Estate Agent — EAQE E Paper · 2026

What is the Estate Agent licence (E Paper)?

The Estate Agent licence, often referred to as the "big licence" (E Paper), allows the holder to operate independently or act as the responsible person of an estate agency business, and to supervise licensed salespersons. To obtain it, candidates must pass the E Paper of the EAQE and meet the eligibility requirements of the Estate Agents Authority (EAA). The Estate Agent licence is the higher tier of the two estate agency licences issued by the EAA.

Exam Format

Part I — Multiple-choice questions
60 questions, 90 minutes, pass mark 36/60 (60%)

Part II — Case studies
20 questions, pass mark 24/40 (60%)

Note: Part I and Part II must be taken in the same sitting, and both must be passed together to qualify.

Estate Agent vs Salesperson: Key Differences

Estate Agent: may operate independently and supervise salespersons
Salesperson: must work under the supervision of a licensed estate agent and cannot operate independently
The Estate Agent exam covers all 8 Parts; the Salesperson exam covers only selected Parts
The Estate Agent must pass both Part I and Part II; the Salesperson exam has a similar format but a narrower scope

High-frequency Parts (Part I focus)

Part 2 (most important): Estate Agents Ordinance and estate agency practice — highest weighting
Part 3: Conveyancing and the law governing estate agency practice — second highest weighting
Part 4: Land registration system and land search practice
Part 7: Tenancy matters and mortgage knowledge
Part 8: Business management and supervision of salespersons

Essential Ordinances

Eligibility & Licence Application Process

Meet the eligibility criteria: generally aged 18 or above with the specified education level (usually the HKDSE or equivalent); the EAA's published requirements prevail.
Sit the E Paper: register via the EAA website or a designated body, pay the fee, choose your exam date, and take Part I and Part II in the same sitting.
Apply for the Estate Agent licence: after both parts reach 60%, submit an individual estate agent licence application to the EAA with a character reference and supporting documents.
Practise: once approved you may operate independently, act as a responsible person, and supervise licensed salespersons.

Estate agent licences are renewed every two years, subject to the EAA's Continuing Professional Development (CPD) requirements.

Key Study Areas & Common Pitfalls

Part 2 statutory detail: client-money trust accounts, receipts issued "immediately", a maximum fine of HK$300,000 and suspension capped at 2 years — number questions trip up many candidates.
Part 8 (unique to E Paper): the legal duties of supervising salespersons and business-management rules — less familiar to S Paper candidates, so E Paper sitters must study it closely.
Part 3 conveyancing: the sale-and-purchase process and related law are interlinked — understand them rather than memorise.
Part II case studies: these test practical application and professional judgement; reciting ordinances without applying them misses the point.
Time management: Part I gives 90 minutes for 60 questions (about 1.5 minutes each) — don't get stuck on hard questions.

Career Path for Estate Agent Licence Holders

With the Estate Agent licence you can open your own estate agency, act as the responsible person of a branch or company, or supervise and train salespersons as a senior agent. Compared with the Salesperson licence — which only permits employment under a licensed agent — the Estate Agent licence offers markedly higher income potential and professional autonomy, and is a common progression goal for those who entered via the S Paper.

Study Resources

Independent study aid. Not affiliated with or endorsed by the Estate Agents Authority (EAA).

本應用為獨立學習工具，與地產代理監管局 (EAA) 無關，亦未獲其認可。