Field Service Sector
Review of Real Estate 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, 22306, 26152, 26154 |
|
Residential and Commercial Property Management |
27488 |
|
Rural, Residential, Commercial and Business |
4669, 4671, 4674, 4675, 4713, 15501, 23144-23154, 23156, 23441-23444, 26151 |
The Skills Organisation (Skills) has completed the review of the unit standards listed above.
Date new versions published October 2017
Planned review date December 2022
Summary
The review of these unit standards was initiated through their planned review, Targeted Review of Qualifications (TRoQ) for Real Estate, and in response to the listing of the:
The unit standards were reviewed to ensure they are fit for purpose, relevant to the Real Estate industry, and readily available for assessment. Industry representatives were involved in the review, writing of unit standards, and providing feedback from their own networks.
Main changes
· Seven standards were reviewed and designated as category B to meet current and future requirements of the real estate industry;
· 34 standards were replaced by 18 standards to meet current and future requirements of the real estate industry;
· Eight standards were newly developed to bridge the gaps in knowledge and skills needed for learners to become a specialist, branch manager, or agent in the real estate industry;
· Four standards were set to expire without replacement.
Category C and D unit standards will expire at the end of December 2019
The last date for assessment of superseded versions of category B unit standards is 31 December 2019
Detailed list of unit standards – classification, title, level, and credits
All changes are in bold.
Key to review category |
|
A |
Dates changed, but no other changes are made - the new version of the standard carries the same ID and a new version number |
B |
Changes made, but the overall outcome remains the same - the new version of the standard carries the same ID and a new version number |
C |
Major changes that necessitate the registration of a replacement standard with a new ID |
D |
Standard will expire and not be replaced |
Service Sector > Real Estate |
|||||
ID |
Domain |
Title |
Level |
Credit |
Review Category |
4693
5146
26153
22306
30481 |
Real Estate Management Real Estate Management
Real Estate Management
Real Estate Practice and Law Real Estate Management
|
Develop new business plans for real estate firms Demonstrate knowledge of directing real estate entities under the Companies Act 1993 Develop a policies and practice manual to support real estate best practice Demonstrate knowledge of lawful structure for real estate business entities Demonstrate and apply knowledge of business entities and a policy and procedure manual in a real estate context |
6
5
5
5
6 |
8
5
10
4
8 |
C
C
C
C |
4703
4704
4705
4707
30488 |
Real Estate Management Real Estate Management Real Estate Management Real Estate Practice and Law Real Estate Management
|
Manage the preparation of real estate contracts Facilitate the discharge of real estate contracts Manage real estate contracts of agency Explain leasing, legal, and financial matters to clients and prospective customers Supervise and support licensees and employees with real estate contracts and property management |
5
5
5
5
5 |
4
3
3
4
8 |
C
C
C
C |
4697
30484
30485 |
Real Estate Management
Real Estate Management
Real Estate Practice and Law |
Facilitate performance of employees and contractors in real estate firms Support and enable licensees and employees to improve engagement and productivity within a real estate branch or agency Inform real estate licensees and employees about employment law and other compliance obligations |
5
6
6 |
5
3
6 |
C |
Service Sector > Real Estate > Real Estate Management
ID |
Title |
Level |
Credit |
Review Category |
4694 |
Outline plans for real estate projects |
4 |
3 |
D |
4695 |
Implement the marketing function in real estate firms Develop and implement a marketing strategy for a property or business |
5 |
5
6 |
B |
4696 4698
4699
4702
30494 |
Manage the staffing function in real estate firms Demonstrate knowledge of team management and team building methods appropriate for real estate firms Demonstrate knowledge of financial transactions and financial statements for real estate firms Implement internal controls and conduct internal checks and audits in real estate firms Demonstrate and apply knowledge of human resources, risk management, and revenue for a real estate branch |
5 5
4
5
5 |
5 4
4
3
5 |
C C
C
C |
4700 |
Manage trust accounts in real estate firms Manage a trust account for a real estate branch or agency |
5 |
4 |
B |
23132 |
Identify, evaluate, and manage risk in a real estate context Identify, evaluate, and mitigate risks in a real estate agency |
6 |
6
7 |
B |
30482 |
Assess a real estate agency’s organisational processes and practices for real estate contracts |
6 |
5 |
New |
30483 |
Develop and support a real estate agency and licensee to achieve agency and personal goals |
6 |
4 |
New |
Service Sector > Real Estate > Real Estate Practice and Law
ID |
Title |
Level |
Credit |
Review Category |
4708 |
Prepare condition and redevelopment potential reports for potential vendors and purchasers |
4 |
4 |
D |
4714 |
Provide clients and prospective customers with advice on resource management issues Provide real estate clients or customers with information on resource management |
6 |
8
7 |
B |
26152 |
Explain the principles of ethics applying to real estate practice Apply knowledge of ethics and industry best practice principles to real estate agency work |
5 |
4 |
B |
26154 |
Demonstrate knowledge of requirements for properly supervising and managing a real estate business Demonstrate knowledge of requirements for supervising within a real estate branch or agency |
5 |
4 |
B |
30486 |
Supervise and support licensees completing inspections and appraisals |
6 |
4 |
New |
30487 |
Demonstrate knowledge of legislation and industry best practice applicable to inspections and appraisals |
5 |
3 |
New |
30495 |
Build and maintain professional relationships with real estate clients, customers, and networks |
5 |
3 |
New |
Service Sector > Real Estate > Residential and Commercial Property Management
ID |
Title |
Level |
Credit |
Review Category |
27488 |
Describe the roles of residential property managers and letting agents |
3 |
2 |
D |
Service Sector > Real Estate > Rural, Residential, Commercial and Business Sales
ID |
Title |
Level |
Credit |
Review Category |
4669
23444
30493
|
Demonstrate knowledge of appraisal and complete investment analyses of residential properties Develop an investment summary for, and explain the property description of, a commercial or industrial property Evaluate a licensee’s investment analysis of a residential or commercial property |
4
4
5 |
5
4
3 |
C
C |
4671 23441 30504 |
List rural properties and promote listings Develop property descriptions of rural properties Develop marketing strategies to list and market a rural property |
4 4 5 |
4 4 5 |
C C |
4674
23148
30496 |
Prepare agency agreements and appraisals of commercial and industrial sites and qualify clients Qualify customers and demonstrate knowledge of investment factors for commercial and industrial properties Inspect, appraise, and complete an agency agreement for a commercial and industrial property |
4
4
5 |
6
4
5 |
C
C |
4675
30497 |
List commercial and industrial properties and market listings Develop a marketing strategy for a commercial property or an industrial property |
4
5 |
4
5 |
C |
4713
23151
30499 |
Prepare appraisals of multi-unit residential properties Demonstrate an understanding of the sub-division process and appraise vacant residential land Demonstrate and apply knowledge to appraise complex residential properties |
4
5
5 |
4
5
5 |
C
C |
15501 23153
23154
30503 |
Prepare appraisals of lifestyle properties Prepare appraisals of horticultural and specialised unit properties Prepare appraisals of pastoral and arable properties Inspect and appraise rural properties, and complete an agency agreement |
4 4
4
5 |
4 5
5
5 |
C C
C |
23144
26151
30489 |
Appraise and complete agency agreements for larger sized businesses Appraise, complete and explain agency agreements for smaller and medium sized businesses Appraise businesses and complete an agency agreement |
4
4
5 |
6
9
5 |
C
C |
23145 23146
30491 |
Facilitate the sale and purchase of businesses Prepare Agreement for Sale and Purchase of a Business relating to sale of franchise operations Facilitate the sale and purchase of a business |
4 4
5 |
4 4
5 |
C C |
23147
30492 |
Demonstrate knowledge of the business broking sector in real estate Demonstrate knowledge of the business broking sector in the real estate industry |
4
5 |
4
5 |
C |
23149 |
Prepare Agreement for Sale and Purchase of Real Estate form for commercial and industrial properties Facilitate the sale and purchase of commercial and industrial properties |
5 |
5 |
B |
23150
30501 |
Prepare sale and purchase agreements for complex situations relating to residential property Draft sale and purchase agreements and manage the sale of a complex residential property |
4
5 |
4
5 |
C |
23152
30505 |
Prepare sale and purchase agreements for complex situations relating to rural property Prepare and present Sales and Purchase Agreements for rural properties |
4
5 |
4
5 |
C |
23156 |
Demonstrate knowledge of basic real estate marketing |
3 |
3 |
D |
23442
30490 |
Develop descriptions for use in marketing businesses for sale Develop marketing strategies and market a business for sale |
4
5 |
4
5 |
C |
23443
30500 |
Develop property descriptions of residential properties Develop marketing strategies for an investment property, a multi-unit property, and vacant land |
4
5 |
4
5 |
C |
30498 |
Demonstrate knowledge of commercial and industrial real estate |
5 |
5 |
New |
30502 |
Demonstrate knowledge of complex residential real estate transactions |
5 |
5 |
New |
30506 |
Demonstrate knowledge of legislation and council compliance applicable for rural real estate |
5 |
5 |
New |