Domain - Real Estate Practice and Law

Domain - Real Estate Practice and Law

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Assessment Standards

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Level 3

Demonstrate knowledge of council zoning and building law needed to act as a real estate salesperson
This standard is expiring. The last date for assessment to take place is 30 June 2023.

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Version 8 This unit standard was replaced by unit standard 29882.

23138 Unit Standard 3 Credits

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This unit standard is for people preparing for entry into, or who are currently working in, the real estate industry as salespersons. People credited with this unit standard are able to: - identify, interpret, and apply sources of information that describe site uses and compliant activity for a specific property; - explain the law relating to building documentation and processes; and - explain the requirements and implications of the Building Act 2004 with regard to the alteration and change of use for premises.

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Describe the governing bodies roles and salespeople's duties in the real estate industry
This standard has expired and is no longer available.

Version 4 This unit standard has been replaced by unit standard 23133.

4653 Unit Standard 2 Credits

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This unit standard is for people preparing for entry into the real estate industry as sales people. People credited with this unit standard are able to: describe the roles of the Real Estate Licensing Board and the Real Estate Institute of New Zealand (Inc) as they relate to sales people; explain the titles and describe the roles and responsibilities of people in the industry; describe the duties and conditions imposed by the Real Estate Agents Act 1976; and demonstrate knowledge of ethical and professional standards and the duties, obligations, and conditions imposed by legislation, the Real Estate Institute of New Zealand Rules (REINZ Rules).

Standard-setting body:

The Skills Organisation - Real ITO

Demonstrate knowledge of real estate law
This standard has expired and is no longer available.

Version 4 This unit standard and unit standard 4665 have been replaced by unit standard 23141, unit standard 23135, and unit standard 23136.

4654 Unit Standard 2 Credits

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This unit standard is for people preparing for entry into the real estate industry. People credited with this unit standard are able to: describe legal provisions that control real estate practice; describe legal provisions that govern real estate contracts; and describe the provisions of the law of agency.

Standard-setting body:

The Skills Organisation - Real ITO

Demonstrate knowledge of property titles, establish price ranges and complete listing forms
This standard has expired and is no longer available.

Version 4 This unit standard and unit standard 4706 have been replaced by unit standard 23134.

4655 Unit Standard 2 Credits

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This unit standard is for people preparing for entry into the real estate industry. People credited with this unit standard are able to: describe property titles; complete listing forms for properties; and appraise properties, estimate market values for properties and produce written appraisals, using the analysis of sales approach.

Standard-setting body:

The Skills Organisation - Real ITO

Develop plans to attract prospects for specific properties
This standard has expired and is no longer available.

Version 4 This unit standard and unit standard 4657 have been replaced by unit standard 23140.

4656 Unit Standard 2 Credits

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This unit standard is for people preparing for entry into the real estate industry. People credited with this unit standard are able to: select target markets for specific properties; develop advertising for specific properties; and design promotions for specific properties.

Standard-setting body:

The Skills Organisation - Real ITO

Demonstrate ability to qualify prospects and show and present property
This standard has expired and is no longer available.

Version 4 This unit standard and unit standard 4656 have been replaced by unit standard 23140.

4657 Unit Standard 2 Credits

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This unit standard is for people preparing for entry into the real estate industry. People credited with this unit standard are able to: use the telephone as a sales medium; demonstrate factors in personal planning and communication for appointments; demonstrate ability to qualify prospects; and demonstrate effective sales presentation techniques for a particular property.

Standard-setting body:

The Skills Organisation - Real ITO

Demonstrate knowledge of facilitating offers to buy or lease property
This standard has expired and is no longer available.

Version 4 This unit standard and unit standard 4659 have been replaced by unit standard 23137.

4658 Unit Standard 2 Credits

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This unit standard is for people preparing for entry into the real estate industry. People credited with this unit standard are able to: demonstrate ability to prepare draft agreement forms for purchase or lease; demonstrate knowledge of how to negotiate offers with all parties; and demonstrate knowledge of how to advance negotiations for new and counter offers with all parties.

Standard-setting body:

The Skills Organisation - Real ITO

Demonstrate knowledge of closing, financing and after sales service in the real estate industry
This standard has expired and is no longer available.

Version 4 This unit standard and unit standard 4658 have been replaced by unit standard 23137.

4659 Unit Standard 2 Credits

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This unit standard is for people preparing for entry into the real estate industry. People credited with this unit standard are able to, in the real estate industry, demonstrate knowledge of: closing techniques; financing for purchases; and after sales service methods.

Standard-setting body:

The Skills Organisation - Real ITO

Demonstrate knowledge of basic real estate marketing and how to build a client base
This standard has expired and is no longer available.

Version 4 This unit standard has been replaced by unit standard 23156.

4660 Unit Standard 2 Credits

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This unit standard is for people preparing for entry into the real estate industry. People credited with this unit standard are able to: demonstrate knowledge of market segmentation, market targeting, and market positioning; and knowledge of how these concepts can be used in establishing a presence in the real estate market; and demonstrate knowledge of methods for communicating with clients and customers, knowledge of how communication can be used to establish a presence in the real estate market and to build a client and customer base.

Standard-setting body:

The Skills Organisation - Real ITO

Level 4

Establish a personal professional presence in the real estate market

Word  PDF

Version 7

15500 Unit Standard 2 Credits

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This unit standard is for people preparing for entry into, or who are currently working in, the real estate industry. People credited with this unit standard are able to: - develop a marketing strategy to establish a personal professional presence in the real estate market; and - develop and review a marketing plan as part of a campaign to establish a personal professional presence in the real estate market.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Explain aspects of the Unit Titles Act 2010 for real estate personnel

Word  PDF

Version 6

22311 Unit Standard 2 Credits

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This unit standard is for property managers in the residential tenancy and property management sector, and for people preparing for entry into, or who are currently working in, the real estate industry. People credited with this unit standard are able to explain aspects of the Unit Titles Act 2010 for real estate personnel.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Demonstrate an understanding of the real estate industry and practice in New Zealand
This standard has expired and is no longer available.

Version 2 This unit standard replaced unit standard 4653.

23133 Unit Standard 4 Credits

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This unit standard is for people preparing for entry into the real estate industry as salespersons. People credited with this unit standard are able to: explain the roles of the Real Estate Agents Licensing Board and the Real Estate Institute of New Zealand Inc. as they relate to salespersons; explain the titles, roles, and responsibilities of people in the real estate industry; explain the duties and conditions imposed on an industry member by the effective control provisions of the Real Estate Agents Act 1976; explain specific provisions of the Real Estate Agents Act 1976 that impact on real estate practice as a salesperson; and explain the REINZ disciplinary procedures as applied to a salesperson.

Standard-setting body:

The Skills Organisation - Real ITO

Demonstrate knowledge of the law of contract and the law of agency in a real estate context

Word  PDF

Version 6 This unit standard, unit standard 23136, and unit standard 23141 replaced unit standard 4654 and unit standard 4665.

23135 Unit Standard 5 Credits

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This unit standard is for people preparing for entry into, or who are currently working in, the real estate industry. People credited with this unit standard are able to: - explain the law of contract in a real estate context; - explain the provisions of the law of agency in a real estate context; and - determine appropriate signatories for different entities for contracts in a real estate context.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Demonstrate knowledge of laws related to consumer protection in a real estate context

Word  PDF

Version 6

23136 Unit Standard 4 Credits

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This unit standard is for people preparing for entry into, or who are currently working in, the real estate industry. People credited with this unit standard are able to: - explain the Fair Trading Act 1986 as it relates to real estate practice; - explain the Code as it relates to consumer protection; and - demonstrate knowledge of legal concepts and the implications of misrepresentation of the Contracts and Commercial Law Act 2017.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Demonstrate knowledge and use of listing form and of appraising property
This standard has expired and is no longer available.

Version 2 This unit standard has been replaced by unit standard 26148. This unit standard replaced unit standard 4662.

23139 Unit Standard 4 Credits

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This unit standard is for salespersons in the real estate industry. People credited with this unit standard are able to: complete and explain the inspection and listing process; and explain and demonstrate methods of appraisal as applicable to different real estate types.

Standard-setting body:

The Skills Organisation - Real ITO

Demonstrate knowledge of and develop marketing plans for real estate, qualify customers, and present properties for sale

Word  PDF

Version 6 This unit standard replaced unit standard 4656 and unit standard 4657.

23140 Unit Standard 5 Credits

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This unit standard is for people preparing for entry into, or currently working in, the real estate industry. People credited with this unit standard are able to: - explain marketing options for the sale of properties; - develop, and explain to a prospective client, marketing plans and budgets to market properties; - complete, and explain to a prospective client, an agency agreement for the sale of a property; - develop promotional material; - explain disclosure obligations to customers; - demonstrate knowledge of qualifying customers in terms of purchasing requirements; and - develop appropriate techniques and present property options that meet the needs, wants, and expectations of the qualified customer.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Demonstrate knowledge of legislation as applied to real estate licensees

Word  PDF

Version 6 This unit standard, unit standard 23135, and unit standard 23136 replaced unit standard 4654 and unit standard 4665.

23141 Unit Standard 4 Credits

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This unit standard is for people preparing for entry into, or who are currently working in, the real estate industry. People credited with this unit standard are able to demonstrate knowledge of legislation as applied to real estate licensees.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Explain licensing and the code of professional conduct under the Real Estate Agents Act 2008

Word  PDF

Version 5 This unit standard replaced unit standard 23133.

26149 Unit Standard 4 Credits

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This unit standard is for people preparing for entry into, or who are currently working in, the real estate industry. People credited with this unit standard are able to: - explain the standards of professional conduct expected of a real estate licensee; - explain the requirements to report unsatisfactory conduct and misconduct; - explain the obligations of a licensee to create awareness of the Act and Regulations; - explain the rules for client and customer care; - explain the requirements for licensing; - explain of the requirements for supervision of licensees; and - explain the complaints procedure as they affect individual licensees.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Demonstrate knowledge of the laws relating to resource management and building in a real estate context

Word  PDF

Version 3 This unit standard replaced unit standard 23138.

29882 Unit Standard 4 Credits

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This unit standard is for people preparing for entry into, or who are currently working in, the real estate industry. People credited with this unit standard are able to: - explain the purpose and principles of and restrictions and controls imposed by the Resource Management Act 1991 and District Plans; - identify and interpret zoning information relevant to site uses; - demonstrate knowledge of how land sites influence building structures; - describe property-related documentation held by a territorial authority; and - demonstrate knowledge of the Building Act 2004.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

List residential properties and manage listings
This standard has expired and is no longer available.

Version 4 This unit standard has been replaced by unit standard 23139.

4662 Unit Standard 3 Credits

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This unit standard is for advanced salespersons in the residential sector of the real estate industry. People credited with this unit standard are able to: obtain contracts of agency and reach agreement on marketing programmes to be employed for residential property; obtain signed authorities from vendors and/or owners to market residential property on their behalf; develop residential property descriptions; and implement agreed marketing programmes for residential property.

Standard-setting body:

The Skills Organisation - Real ITO

Qualify and advise prospective buyers of residential properties
This standard has expired and is no longer available.

Version 4

4664 Unit Standard 2 Credits

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This unit standard is for advanced salespersons in the residential sales sector of the real estate industry. People credited with this unit standard are able to qualify prospective buyers of residential property, assist prospective buyers of residential property acquire information needed for decision making, and meet their requests for advice.

Standard-setting body:

The Skills Organisation - Real ITO

Prepare condition and redevelopment potential reports for potential vendors and purchasers
This standard has expired and is no longer available.

Version 7

4708 Unit Standard 4 Credits

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This unit standard is for people who intend to operate as branch managers in the real estate industry. People credited with this unit standard are able to: - prepare general condition reports of properties for vendors; - report on the redevelopment potential of properties; and - demonstrate an understanding of the need to confirm that condition and redevelopment potential reports are accurate and legal.

Standard-setting body:

The Skills Organisation

Level 5

Demonstrate knowledge of lawful structure for real estate business entities
This standard is expiring. The last date for assessment to take place is 30 June 2023.

Word  PDF

Version 7 This unit standard and unit standards 4693, 5146 and 26153 were replaced by unit standard 30481.

22306 Unit Standard 4 Credits

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People credited with this unit standard are able to: - describe and explain business entities in relation to real estate businesses; and - select and justify a business entity for operation as a real estate business.

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Demonstrate knowledge of requirements for maintaining effective control of a real estate business
This standard has expired and is no longer available.

Version 2 This unit standard has been replaced by unit standard 26154.

22314 Unit Standard 4 Credits

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This unit standard is for people who intend to operate as licensees in the real estate industry. People credited with this unit standard are able to: demonstrate an understanding of the requirements for maintaining effective control, and of acceptable business structures of a real estate agent in relation to effective control; and analyse the implications of failure to maintain effective control.

Standard-setting body:

The Skills Organisation - Real ITO

Demonstrate knowledge of law relating to land titles, ownership, and transfer of land

Word  PDF

Version 6 This unit standard replaced unit standard 4655 and unit standard 4706.

23134 Unit Standard 4 Credits

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This unit standard is for people preparing for entry into, or who are currently working in, the real estate industry. People credited with this unit standard are able to: - explain property law terminology; - identify Titles and explain registered interests; - explain the law relating to the ownership and transfer of land; and - explain forms of co-ownership of land.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Demonstrate knowledge of the sale and purchase agreements and manage the sale of real estate

Word  PDF

Version 6

23137 Unit Standard 5 Credits

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This unit standard is for people preparing for entry into, or who are currently working in, the real estate industry. People credited with this unit standard are able to: - explain the requirements associated with sale and purchase agreements of real estate; - explain the requirements of the offer process and draft an offer with a customer; - manage the sale of real estate and demonstrate negotiation and closing techniques; - explain financing options for real estate customers; - explain the requirements for overseas buyers to purchase real estate in terms of the Overseas Investment Act 2005; and - explain the licensee''s role and responsibilities between contract date and settlement date.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Demonstrate and apply knowledge of inspection and appraisal for real estate property and qualify prospective clients

Word  PDF

Version 5 This unit standard replaced unit standard 23139.

26148 Unit Standard 4 Credits

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This unit standard is for people preparing for entry into, or who are currently working in, the real estate industry. People credited with this unit standard are able to: - explain the inspection and appraisal process; - explain appraisal methods and appraise properties; and - qualify prospective clients.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Apply knowledge of ethics and industry best practice principles to real estate agency work

Word  PDF

Version 4

26152 Unit Standard 5 Credits

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This unit standard is for people preparing for entry into, or who are currently working in the real estate industry, or who intend to operate as a branch manager. People credited with this unit standard are able to: - demonstrate knowledge of ethics as they apply to the responsibilities of licensees; - demonstrate and apply knowledge of conflict and complaint resolution in agency work; and - explain the complaints and disputes process as set out in the Real Estate Agents Act 2008 and the Code of Conduct.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Demonstrate knowledge of supervisory responsibilities within a real estate business

Word  PDF

Version 4 This unit standard replaced unit standard 22314.

26154 Unit Standard 5 Credits

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This unit standard is for people who intend to operate as branch managers or agents in the real estate industry. People credited with this unit standard are able to: - explain the supervisory responsibilities of a branch manager or agent; and - demonstrate and apply knowledge of supervisory responsibilities of a branch manager or an agent to employees, licensees and independent contractors.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Demonstrate knowledge of legislation, best practice and resource management applicable to inspections and appraisals

Word  PDF

Version 2

30487 Unit Standard 4 Credits

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This unit standard is for people who intend to operate as branch managers or agents in the real estate industry. People credited with this unit standard are able to: - analyse legislation and industry best practice applicable to inspections and appraisals; and . provide resource management information to a client or customer regarding an activity for a property or business.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Exercise the duty of care in real estate transactions
This standard has expired and is no longer available.

Version 4 This unit standard and unit standard 4654 have been replaced by unit standard 23141, unit standard 23135, and unit standard 23136.

4665 Unit Standard 5 Credits

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This unit standard is for advanced salespersons in the real estate industry. People credited with this unit standard are able to: provide the duty of care that real estate agents owe to clients and prospects; observe the provisions of the Fair Trading Act 1986 and Contractual Remedies Act 1979 as they apply to agent involvement in the sale and purchase of land; and provide information on potential private nuisance associated with land use, fencing and the fencing of swimming pools, and trespass.

Standard-setting body:

The Skills Organisation - Real ITO

Provide real estate clients and prospects with technical information on buildings
This standard has expired and is no longer available.

Version 4 This unit standard has been replaced by unit standard 23157.

4666 Unit Standard 3 Credits

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This unit standard is for advanced salespersons in the real estate industry. People credited with this unit standard are able to provide real estate clients and prospects with information on: foundations, flooring, and timber framing; wall cladding and roof covering; joinery, finishes, and insulation; and services in buildings.

Standard-setting body:

The Skills Organisation - Real ITO

Explain the main points of property and land law to real estate clients and prospects
This standard has expired and is no longer available.

Version 4 This unit standard and unit standard 4655 have been replaced by unit standard 23134.

4706 Unit Standard 5 Credits

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This unit standard is for people who intend to contribute as branch managers or licensees in the real estate industry. People credited with this unit standard are able to: explain property concepts to real estate clients and prospects; explain the New Zealand land transfer system; explain forms of co-ownership of land; and provide accurate information, systems and training to staff.

Standard-setting body:

The Skills Organisation - Real ITO

Explain leasing, legal, and financial matters to clients and prospective customers
This standard is expiring. The last date for assessment to take place is 30 June 2023.

Word  PDF

Version 12 This unit standard and unit standards 4703, 4704 and 4705 were replaced by unit standard 30488.

4707 Unit Standard 4 Credits

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This unit standard is for people who intend to operate as branch managers or agents in the real estate industry. People credited with this unit standard are able to: - explain to clients the legal features of tenancy agreements consistent with legal requirements; - explain to clients and prospective customers the meaning of licences, easements, covenants, and caveats; - explain chattels and fixtures to real estate clients and prospective customers; - provide information on mortgages to real estate clients and prospective customers; - identify possible sources and features of finance for real estate clients and prospective customers; and - explain orally, and in writing, real estate terminology accurately to reflect legal definitions to client or landlord consistent industry requirements.

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Level 6

Inform real estate licensees and employees about employment law and other compliance obligations

Word  PDF

Version 2 This unit standard replaced unit standard 4697.

30485 Unit Standard 5 Credits

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This unit standard is for people who intend to operate as branch managers or agents in the real estate industry. People credited with this unit standard are able to: - analyse employment law as applied to a real estate business; - demonstrate and apply knowledge of licensee tax obligations in a real estate business; and - demonstrate knowledge of the Code of Conduct and the Real Estate Authority processes and decisions.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Evaluate and support licensees completing inspections and appraisals

Word  PDF

Version 2

30486 Unit Standard 3 Credits

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This unit standard is for people who intend to operate as branch managers or agents in the real estate industry. People credited with this unit standard are able to evaluate and support licensees completing inspections and appraisals.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Build and maintain professional relationships with real estate clients, customers, and networks

Word  PDF

Version 2

30495 Unit Standard 5 Credits

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This unit standard is for people preparing for entry into, or who are currently working in the real estate industry, or who intend to operate as a licensed agent. People credited with this unit standard are able to, for a real estate business: - build and maintain relationships with clients, customers, and networks; and - analyse compliance requirements and best practice when communicating with clients, customers, and networks.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Manage trust accounts and anti-money laundering and countering financing of terrorism for a real estate business

Word  PDF

Version 1

32735 Unit Standard 8 Credits

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This unit is for people who intend to operate as a licensed agent in the real estate industry. People credited with this unit standard are able to: - demonstrate knowledge of operational management of a trust account in a real estate business; - demonstrate knowledge of the responsibilities of a real estate agent to comply with anti-money laundering and countering financing of terrorism.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Provide real estate clients or customers with information on resource management

Word  PDF

Version 8

4714 Unit Standard 7 Credits

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This unit standard is for people preparing for entry into, or who are currently working in, the real estate industry, or who intend to operate as a branch manager. People credited with this unit standard are able to: - demonstrate knowledge of the Resource Management Act 1991; and - provide resource management information to a client or customer regarding an activity for a property or business.

Consent & Moderation Requirements:

CMR 3 Word PDF

Standard-setting body:

Ringa Hora Services Workforce Development Council The Skills Organisation

Data as at 28 January 2022