Field          Service Sector

 

Revision and rollover and transfer of standard setting responsibility for, Real Estate unit standards and qualifications

 

Unit Standards

 

Subfield

Domain

ID

Real Estate

Real Estate Management

4693-4700, 4702-4705, 5146, 23132, 26153

Real Estate Practice and Law

4707, 4708, 4714, 15500, 22306, 23135-23138, 23140, 23141, 26148, 26149, 26152, 26154

Residential and Commercial Property Management

4678-4688, 22303, 22305, 22310

Rural, Residential, Commercial and Business Sales

4671, 4674, 4675, 4713, 15501, 15502, 23144-23154, 23156, 23441-23444, 26150, 26151

 

Qualifications

 

Qualification Title

Reference

National Diploma in Real Estate (Agent) (Level 5)

1731

National Certificate in Real Estate (Branch Manager) (Level 5)

1288

National Certificate in Real Estate (Salesperson) (Level 4)

1543

 

Responsibility for the unit standards and qualifications listed above has been transferred from Real ITO to ETITO (ElectroTechnology Industry Training Organisation).

 

ETITO has completed the revision and rollover of the unit standards and revision of the qualifications listed above.

 

Date new versions published                                                          August 2012

 

Planned review date for qualifications                                          December 2014

 

Planned review date for unit standards                                        December 2015

 

Summary

 

The revision was largely driven by the need to amend the unit standards and qualifications to address the change in Standard Setting Body responsibility from Real ITO to ETITO.  The references to legislation have been updated in the unit standards, and other minor amendments have been made to address any assessment issues or typographical errors.  The qualifications have been amended to reflect changes to unit standards resulting from reviews.

 

The revision, rollover, and transfer of standard setting responsibility process was supported by industry stakeholders including the Real Estate Institute of New Zealand, the Real Estate Agents Authority, and the Property Institute of New Zealand.  Other Standard Setting Bodies, including NZQA National Qualifications Service, Retail Institute and InfraTrain also supported the title changes to unit standards 23135 and 23136.

 

Revision and rollover of Real Estate unit standards

 

Main changes

·      Standards were moved from CMR 0070 to CMR 0003.

·      Standards were amended to update legislation and name of Standard Setting Body and to clarify evidence requirements and improve assessability.

·      Last date for assessment of all superseded versions was set to 31 December 2013.

·      Planned review date for all unit standards was set to 31 December 2015, after the review of Real Estate sector qualifications in 2014.

·      Unit standard 4683 - a phrase was added relating to ethical behaviour and manner.

·      Unit standard 22303 - an additional statement was added to the purpose statement reflecting the Financial Advisers Act.

·      Unit standard 23135 - title amended to indicate ‘a real estate context’, with the evidence requirements being amended accordingly.

·      Unit standard 23136 - title amended to include deceptive conduct and false representation.

·      Expiring standards 4678-4682 and 22310 were also moved to CMR 0003.

 

Impact on Consent and Moderation Requirements (CMR)

 

CMR 0003 has been amended to include industry or sector-specific requirements for these unit standards into a new appendix for the Real Estate sector.

 

Impact on registered qualifications

 

Key to type of impact

Affected

The qualification lists a reviewed classification (domain or subfield) in an elective set

The qualification lists a standard that has changes to level or credits

The qualification lists a C or D category standard

Not materially affected

The qualification lists a standard that has a new title

The qualification lists a standard that has a new classification

 

The following ETITO qualifications are impacted by the outcome of this revision and have been updated.  The classifications and/or standards that generated the status Affected are listed in bold.

 

Ref

Qualification Title

Classification or ID

1288

National Certificate in Real Estate (Branch Manager) (Level 5)

23135, 23136

1543

National Certificate in Real Estate (Salesperson) (Level 4)

23135, 23136

1731

National Diploma in Real Estate (Agent) (Level 5)

23135, 23136

 

Detailed list of unit standards - classification, title, level, and credits

 

Service Sector > Real Estate > Real Estate Management

ID

Title

Level

Credit

4693

Develop new business plans for real estate firms

6

8

4694

Outline plans for real estate projects

4

3

4695

Implement the marketing function in real estate firms

5

5

4696

Manage the staffing function in real estate firms

5

5

4697

Facilitate performance of employees and contractors in real estate firms

5

5

4698

Demonstrate knowledge of team management and team building methods appropriate for real estate firms

5

4

4699

Demonstrate knowledge of financial transactions and financial statements for real estate firms

4

4

4700

Manage trust accounts in real estate firms

5

4

4702

Implement internal controls and conduct internal checks and audits in real estate firms

5

3

4703

Manage the preparation of real estate contracts

5

4

4704

Facilitate the discharge of real estate contracts

5

3

4705

Manage real estate contracts of agency

5

3

5146

Demonstrate knowledge of directing real estate entities under the Companies Act 1993

5

5

23132

Identify, evaluate, and manage risk in a real estate context

6

6

26153

Develop a policies and practice manual to support real estate best practice

5

10

 

Service Sector > Real Estate > Real Estate Practice and Law

ID

Title

Level

Credit

4707

Explain leasing, legal, and financial matters to clients and prospective customers

5

4

4708

Prepare condition and redevelopment potential reports for potential vendors and purchasers

4

4

4714

Provide clients and prospective customers with advice on resource management issues

6

8

15500

Establish a presence in the real estate market

4

4

22306

Demonstrate knowledge of lawful structure for real estate business entities

5

4

23135

Demonstrate knowledge of the law of contract and the law of agency

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

4

5

23136

Demonstrate knowledge of misleading and deceiving conduct and misrepresentation

Demonstrate knowledge of misleading and deceptive conduct and misrepresentation for real estate practice

4

4

23137

Demonstrate knowledge of the sale and purchase agreement and facilitate sale of real estate

4

5

23138

Demonstrate knowledge of council zoning and building law needed to act as a real estate salesperson

3

3

23140

Develop marketing plans for real estate, qualify customers, and present properties for sale

4

4

23141

Demonstrate understanding of legal matters affecting real estate licensees

5

4

26148

Demonstrate knowledge and use of inspection, appraisal and agency agreement for real estate property

4

6

26149

Demonstrate knowledge of licensing and code of professional conduct under the Real Estate Act 2008

4

4

26152

Explain the principles of ethics applying to real estate practice

5

4

26154

Demonstrate knowledge of requirements for properly supervising and managing a real estate business

5

4

 

Service Sector > Real Estate > Residential and Commercial Property Management

ID

Title

Level

Credit

4678

Demonstrate knowledge of rent reviews and recommend rental ranges for residential property

4

3

4679

List and market residential rental properties and market residential property management services

4

5

4680

Manage tenanted residential property on an ongoing basis

4

5

4681

Complete tenancy agreements for residential property

4

3

4682

Manage the tenants of rented residential property

4

4

4683

Complete contracts and obtain authorities to manage commercial and industrial properties

5

4

4684

Prepare management plans for commercial and industrial properties

5

6

4685

Attract and qualify tenants for commercial and industrial properties and prepare lease agreements

5

7

4686

Manage tenants and leases for commercial properties

5

5

4687

Manage commercial properties

Prepare management plans for commercial and industrial properties

5

5

4688

Report on the performance of commercial properties

6

5

22303

Apply entrepreneurship and innovation in a property investment context

6

6

22305

Apply entrepreneurship and innovation to managing a rental roll

6

6

 

Service Sector > Real Estate > Rural, Residential, Commercial and Business Sales

ID

Title

Level

Credit

4671

List rural properties and promote listings

4

4

4674

Prepare agency agreements and appraisals of commercial and industrial sites and qualify clients

4

6

4675

List commercial and industrial properties and market listings

4

4

4713

Prepare appraisals of multi-unit residential properties

4

4

15501

Prepare appraisals of lifestyle properties

4

4

15502

Prepare, plan, and facilitate a property sale by auction

4

3

23144

Appraise and complete agency agreements for larger sized businesses

4

6

23145

Facilitate the sale and purchase of businesses

4

4

23146

Prepare Agreement for Sale and Purchase of a Business relating to sale of franchise operations

4

4

23147

Demonstrate knowledge of the business broking sector in real estate

4

4

23148

Qualify customers and demonstrate knowledge of investment factors for commercial and industrial properties

4

4

23149

Prepare Agreement for Sale and Purchase of Real Estate form for commercial and industrial properties

5

5

23150

Prepare sale and purchase agreements for complex situations relating to residential property

4

4

23151

Demonstrate an understanding of the sub-division process and appraise vacant residential land

5

5

23152

Prepare sale and purchase agreements for complex situations relating to rural property

4

4

23153

Prepare appraisals of horticultural and specialised unit properties

4

5

23154

Prepare appraisals of pastoral and arable properties

4

5

23156

Demonstrate knowledge of basic real estate marketing

3

3

23441

Develop property descriptions of rural properties

4

4

23442

Develop descriptions for use in marketing businesses for sale

4

4

23443

Develop property descriptions of residential properties

4

4

23444

Develop an investment summary for, and explain the property description of, a commercial or industrial property

4

4

26150

Demonstrate knowledge of methods for sale of real estate in New Zealand

4

4

26151

Appraise, complete and explain agency agreements for smaller and medium sized businesses

4

9

 

Revision of Real Estate Qualifications

 

National Diploma in Real Estate (Agent) (Level 5) [Ref: 1731]

 

Main changes

·      Titles of standards 23135, 23136 were updated

·      Credit value of standard 22308 was updated

·      The last date for assessment of version 1 is 31 December 2013.

 

Transition

 

Version 2 was issued following a revision of unit standards in the qualification.  Existing candidates may either complete the requirements for version 1 of the qualification or transition to version 2.

 

All new candidates will be enrolled in programmes leading to version 2 of the qualification.

 

This qualification contains standards that replace earlier standards.  For the purposes of this qualification, people who have gained credit for the expiring standards are exempt from the requirement to gain credit for the replacement standards - see table below.

 

Credit for

Exempt from

4668

23150

4673

23152

4689, 4712

23144, 26151

4701

23132

4709

23153, 23154

4710

23157

23142, 23143

26151

 

National Certificate in Real Estate (Branch Manager) (Level 5) [Ref: 1288]

 

Main changes

·      Standard setting body details were updated

·      Titles of standards 23135 and 23136 were updated

·      The last date for assessment of version 3 is 31 December 2013

·      The planned review date was set to 2014 to reflect the scheduled date for the review of Real Estate sector qualifications.

 

Transition

 

Version 4 was issued following a change of responsibility from Real ITO to ETITO and revision of unit standards in the qualification.  Existing candidates may either complete the requirements for version 3 of the qualification or transition to version 4.

 

All new candidates will be enrolled in programmes leading to version 4 of the qualification.

 

This qualification contains standards that have been substituted for, and standards that replace earlier standards.  For the purposes of this qualification, people who have gained credit for the expiring standards are exempt from the requirement to gain credit for the replacement standards - see table below.

 

Credit for

Exempt from

4689, 4712

23144, 26151

4709

23153, 23154

4710

23157

23142, 23143

26151

 

 

National Certificate in Real Estate (Salesperson) (Level 4) [Ref: 1543]

 

Main changes

·      Standard setting body details were updated

·      Titles of standards 23135 and 23136 were updated

·      The last date for assessment of version 1 is 31 December 2013

·      The planned review date was set to 2014 to reflect the scheduled date for the review of Real Estate sector qualifications.

 

Transition

 

Version 2 was issued following a change of responsibility from the Real ITO to ETITO and revision of unit standards in the qualification.  Existing candidates may either complete the requirements for version 1 of the qualification or transition to version 2. 

 

All new candidates will be enrolled in programmes leading to version 2 of the qualification.

 

This qualification contains standards that replace earlier standards.  For the purposes of this qualification, people who have gained credit for the expiring standards are exempt from the requirement to gain credit for the replacement standards - see table below.

 

Credit for

Exempt from

4656, 4657

23140

4658, 4659

23137

23139

26148

 

It is not intended that anyone is disadvantaged by this revision and the above arrangements have been designed for a smooth transition.  However, anyone who feels they have been disadvantaged may appeal to ETITO at the address below.

 

ETITO

FREEPOST 5164

PO Box 24469

Royal Oak

Auckland 1345

 

Telephone     09 525 2590

Email             reviewcomments@etito.co.nz