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· Last date for assessment of all superseded versions was set to 31 December 2013.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