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Real Estate Appraisal Licence

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Real Estate Appraisal Licence Powered By Docstoc
					2011
Real estate
Welcome to the open polytechnic
Whether you are looking to improve your career prospects or just
learn something new, we can help you achieve your goal. We
specialise in open learning – learning that gives you more freedom to
decide what you study and where you study.

Our courses are specifically designed for delivery by distance, which
means you can fit your study around your life. And just because you
are learning by distance, it doesn’t mean you have to do it alone. You
will have access to your tutors and lecturers by email or phone and to
other students studying the same course through the Online Campus,
the student support section of our website.

It is our goal to make sure that you enjoy your study and that you
succeed. So welcome to learning for today’s world, and congratulations
on taking up the challenge of further education.




Please note that all information contained in this brochure may be subject to change without notice.
Published: January 2011
Contents
Your options in Real Estate                             2


Introduction                                            2


National Certificate in Real Estate (Salesperson)       3
National Certificate in Real Estate (Branch Manager)    5
National Diploma in Real Estate (Agent)                 8


General information                                    12
       Assessment                                      12
       Interactive workshops                           12
       Course materials                                12


       Entry requirements                              12
       English language requirements                   12
       Computer requirements                           12
       Study time                                      12
       Fees & costs                                    12
       Loans, allowances and other funding             12
       Enrolment                                       12
       Licensing restrictions                          13
       Learning support                                13
       New Zealand Qualifications Authority (NZQA)     13
       Applying for your qualification                 13
       Further study                                   13


Course outlines                                        14


Appendix 1 – Transitioning from old Real Estate
unit standards or qualifications                       20
Appendix 2 – Guide to study times                      21
Contact us                                             22
       Other useful contact details                    22
Appendix 3 – Real Estate qualifications
Introduced 1 July 2010                                 25




                                                            1
Your optIons In real estate
                                                                                                     Where can i get
       What are my needs?                                   Qualification                           more information?

    To be a licensed real estate
                                         National Certificate in Real Estate (Salesperson)                   Page 3
    salesperson

    To be a licensed branch manager      National Certificate in Real Estate (Branch Manager)                Page 5

    To be a licensed agent of my own
                                         National Diploma in Real Estate (Agent)                             Page 8
    real estate agency




IntroduCtIon
Whether you’re looking to start out in real estate or want to update your skills, now is the perfect time to study and make the
most of your career. Our practical and comprehensive qualifications give you the very latest skills and knowledge you’ll need
for this competitive and rewarding industry. These qualifications will help you achieve a challenging career that offers variety
and the potential for excellent financial rewards.
Our courses, workshops and materials are designed by experienced teaching staff, providing a high level of expertise and
support for your study.
We offer the following real estate qualifications:
· National Certificate in Real Estate (Salesperson) (Level 4)
· National Certificate in Real Estate (Branch Manager) (Level 5)
· National Diploma in Real Estate (Agent) (Level 5)
Although these qualifications are stand alone, many of the units are common to more than one of the qualifications.
Once you have completed your qualification you can apply to the REAA (Real Estate Agents Authority) to gain a licence. Visit
the REAA website (www.reaa.govt.nz) for current requirements including necessary industry experience.




2
NatioNal CertifiCate iN real estate (salespersoN)
Qualification code: NC1543
level: 4 Credits: 47
The National Certificate in Real Estate (Salesperson) is the entry level qualification to the real estate industry and meets the
educational requirements needed to become licensed as a real estate salesperson.


QualifiCatioN
Once you have completed all the units in the National Certificate in Real Estate (Salesperson) Level 4 you can apply to the
New Zealand Qualifications Authority (NZQA) for your certificate.


real estate salespersoN’s liCeNCe
Once you have received your National Certificate in Real Estate (Salesperson) you need to apply to the Real Estate Agents
Authority (REAA) for your real estate salesperson’s licence. For more information go to www.reaa.govt.nz


skills you will learN
Once you have completed the qualification you will be able to describe:
· The real estate industry in New Zealand and how it works
· Land ownership, transfer of ownership, titles and council zoning
· Inspection, appraisal, and agency authority agreements
· Sale and purchase agreements and facilitating the sale of real estate, including auction and tender methods
· Property, contract and building law and the legal constraints of operating as a real estate salesperson
· Misleading and deceiving conduct and misrepresentation
· The Real Estate Agents Act 2008, including licensing and the code of professional conduct and client care.




                                                                                                                                   3
QualifiCatioN struCture
This qualification is made up of 11 unit standard based courses. We recommend you study them in the following order.

       unit                                            title                                        level        credit
    standard

                                                land and related laW

      23134         Demonstrate knowledge of land ownership, transfer of ownership and titles          5             4

                    Demonstrate knowledge of council zoning and building law needed to act
      23138                                                                                            3             3
                    as a real estate salesperson

      23141**       Demonstrate understanding of legal matters affecting real estate licensees         5             4

                                             real estate contract laW

      23135         Demonstrate knowledge of the law of contract and the law of agency                 4             5

                    Demonstrate knowledge of misleading and deceiving conduct and
      23136                                                                                            4             4
                    misrepresentation

                    Demonstrate knowledge of licensing and code of professional conduct
      26149                                                                                            4             4
                    under the Real Estate Agents Act 2008

                                              marketing and appraisal

      15500         Establish a presence in the real estate market                                     4             4

                    Demonstrate knowledge and use of inspection, appraisal and agency
      26148                                                                                            4             6
                    agreement for real estate property

                    Develop marketing plans for real estate, qualify customers, and present
      23140                                                                                            4             4
                    properties for sale

                                                    real estate laW

                    Demonstrate knowledge of the sale and purchase agreement and facilitate
      23137*                                                                                           4             5
                    sale of real estate

      26150         Demonstrate knowledge of methods for sale of real estate in New Zealand            4             4

* The assessment for this unit standard has both a written and a contact assessment component.
** This unit standard has an open book assessment.


    These units can be studied by distance learning, in workshops, or a combination of both. To gain a place on the
    certificate course you must make application for entry. If you want to attend the workshops, you need to complete the
    workshop section on the Application for Enrolment form. For more information go to: www.openpolytechnic.ac.nz/
    realestate




4
NatioNal CertifiCate iN real estate (BraNCh MaNager)
Qualification code: NC1288
level: 5 Credits: 89 plus 3 appraisal unit standards
This qualification will give you the practical skills and knowledge to apply to be licenced as a branch manager in a real estate
office.


QualifiCatioN
Once you have completed all the units In the National Certificate in Real Estate (Branch Manager) Level 5 you can apply to
the New Zealand Qualifications Authority (NZQA) for your certificate.


   Note: the first 6 units of this qualification are also included in the National Certificate in Real Estate (Salesperson)



real estate BraNCh MaNager’s liCeNCe
Once you have received your qualification, you have completed the educational requirements for your real estate branch
manager’s licence.


skills you will learN
Once you have completed this qualification you will be able to describe:
· The real estate industry in New Zealand and how it works
· Land ownership, transfer of ownership, titles and council zoning
· Property, contract and building law and the legal constraints of operating as a real estate salesperson
· Misleading and deceiving conduct and misrepresentation
· The Real Estate Agents Act 2008, including licensing and the code of professional conduct and client care
· Leasing, legal, financial and resource management matters
· Preparing and facilitating the discharge of real estate contracts
· Appraising commercial and industrial sites, smaller businesses, and residential, rural and lifestyle properties.
· Financial and accounting systems in real estate offices
· Trust accounts in real estate firms
· Staffing and marketing functions in real estate firms
aND
· Manage the performance of employees and contractors in real estate firms
· Implement internal controls and conducting internal checks and audits.




                                                                                                                               5
QualifiCatioN struCture
To complete the National Certificate in Real Estate (Branch Manager), you must complete 21 compulsory unit standards. You
must also complete a minimum of three elective units, one each from Business, Residential and Rural appraisal.
We recommend you enrol in one block of unit standards at a time.

       unit                                            title                                     level       credits
    standard

                                                            general

      23134        Demonstrate knowledge of land ownership, transfer of ownership and titles        5            4

      23135        Demonstrate knowledge of the law of contract and the law of agency               4            5

                   Demonstrate knowledge of misleading and deceiving conduct and
      23136                                                                                         4            4
                   misrepresentation

                   Demonstrate knowledge of council zoning and building law needed to act
      23138                                                                                         3            3
                   as a real estate salesperson

     23141*        Demonstrate knowledge of legal matters affecting real estate licensees           5            4

                   Demonstrate knowledge of licensing and the code of professional conduct
      26149                                                                                         4            4
                   under the Real Estate Act 2008

                                                            finance

                   Demonstrate knowledge of financial transactions and financial statements
      4699                                                                                          4            4
                   for real estate firms

      4700*        Manage trust accounts in real estate firms                                       5            4

                   Implement internal controls and conduct internal checks and audits in real
      4702                                                                                          5            3
                   estate firms

                                                      management

      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

                   Demonstrate knowledge of team-management and team-building methods
     4698**                                                                                         5            4
                   appropriate for real estate firms

                   Demonstrate knowledge of requirements for properly supervising and
     26154**                                                                                        5            4
                   managing a real estate business

                                                             laW

     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

                   Explain leasing, legal, and financial matters to clients and prospective
      4707*                                                                                         5            4
                   customers




6
     unit                                               title                                       level   credits
  standard

                    Provide clients and prospective customers with advice on resource
      4714                                                                                            6        8
                    management issues

                                                         appraisal

                    Prepare agency agreements and appraisals of commercial and industrial
     4674**                                                                                           4        6
                    sites and qualify clients

                     electives – you must complete one unit standard each from
                                   Business, residential and rural

                    Business appraisal electives – complete one of the folloWing:

                    Appraise and complete agency agreements for larger-sized businesses.
     23144**                                                                                          4        6
                    (Not offered in 2011)

                    Appraise, complete and explain agency agreements for smaller- and
     26151**                                                                                          4        9
                    medium-sized businesses

                  residential appraisal electives – complete one of the folloWing:

                    Demonstrate knowledge of appraisal and complete investment analyses of
      4669                                                                                            4        5
                    residential properties

     4713**         Prepare appraisals of multi-unit residential properties                           4        4

                    Demonstrate an understanding of the subdivision process and appraise
     23151**                                                                                          5        5
                    vacant residential land

                      rural appraisal elective – complete one of the folloWing:

      15501         Prepare appraisals of lifestyle properties                                        4        4

                    Prepare appraisals of horticultural and specialised unit properties. (Not
     23153**                                                                                          4        5
                    offered in 2011)

     23154**        Prepare appraisals of pastoral and arable properties. (Not offered this year)     4        5

* This unit standard has an open book assessment.
** These unit standards are not currently available.




                                                                                                                      7
NatioNal DiploMa iN real estate (ageNt)
Qualification code: ND5325
level: 5 Credits: 170
This National Diploma is the qualification that meets the educational requirements to become licenced as an agent in the real
estate industry.


QualifiCatioN
Once you have completed all the units in the National Diploma in Real Estate (Agent) Level 5, you can apply to the New
Zealand Qualifications Authority (NZQA) for your Diploma.


    Note: All of the units of the branch manager qualification are also included in the National Diploma in Real Estate (Agent)



real estate ageNt’s liCeNCe
Once you have received your qualification, you have completed the educational requirements for your real estate agent’s
licence.


skills you will learN
Once you have completed the qualification you will be able to describe:
· The real estate industry in New Zealand and how it works
· The lawful structure of real estate entities
· Land ownership, transfer of ownership, titles and council zoning
· Sale and purchase agreements including complex situations
· How to facilitate the sale of real estate, including auction and tender methods
· Property, contract and building law and the legal constraints of operating as a real estate salesperson
· Misleading and deceiving conduct and misrepresentation
· The Real Estate Agents Act 2008, including licensing and the code of professional conduct
· The financial and accounting systems of a real estate office
· Trust accounts in real estate firms
· The principles of ethics applying to real estate practice
aND
· Explain leasing, legal, financial and resource management matters to clients
· Manage the preparation and facilitating the discharge of real estate contracts
· Appraise commercial and industrial sites, smaller businesses, and residential, rural and lifestyle properties
· Manage the staffing and marketing functions in real estate firms
· Manage the performance of employees and contractors in real estate firms
· Implement internal controls and conduct internal checks and audits
· Develop a policy and practice manual to support real estate best practice
· Develop business plans for real estate firms
· Identify, evaluate and manage risk.


    Note: Not all units in this qualification are open for enrolment. For up-to-date availability visit our website,
    www.openpolytchnic.ac.nz.




8
QualifiCatioN struCture
To complete the National Diploma in Real Estate (Agent) Level 5 you must complete a total of at least 170 credits. The
majority of these credits will come from the 27 compulsory units. A minimum of three appraisal elective courses, one each
from Business, Residential and Rural appraisal is also required. In addition you must complete further units selected from the
three appraisal groups and/or from the agent electives listed below to achieve your 170 credits.
We recommend you enrol in one block of courses at a time.

 unit standard                                                                title                                    level   credits

                                                                                    general
  salesperson Qualification




                                 23134     Demonstrate knowledge of land ownership, transfer of ownership and titles     5        4

                                 23135     Demonstrate knowledge of the law of contract and the law of agency            4        5

                                           Demonstrate knowledge of misleading and deceiving conduct and
                                 23136                                                                                   4        4
                                           misrepresentation

                                           Demonstrate knowledge of council zoning and building law needed to
                                 23138                                                                                   3        3
                                           act as a real estate salesperson

                                 23141*    Demonstrate knowledge of legal matters affecting real estate licensees        5        4

                                           Demonstrate knowledge of licensing and code of professional conduct
                                 26149                                                                                   4        4
                                           under the Real Estate Act 2008

                                                                                    finance

                                           Demonstrate knowledge of financial transactions and financial statements
                                  4699                                                                                   4        4
                                           for real estate firms

                                 4700*     Manage trust accounts in real estate firms                                    5        4

                                           Implement internal controls and conduct internal checks and audits in
                                  4702                                                                                   5        3
                                           real estate firms

                                                                              management

                                  4694     Outline plans for real estate projects                                        4        3
  Branch manager Qualification




                                  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

                                           Demonstrate knowledge of team-management and team-building
                                 4698**                                                                                  5        4
                                           methods appropriate for real estate firms

                                           Demonstrate knowledge of requirements for properly supervising and
                                 26154**                                                                                 5        4
                                           managing a real estate business

                                                                                      laW

                                 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

                                           Explain leasing, legal, and financial matters to clients and prospective
                                 4707*                                                                                   5        4
                                           customers

                                           Provide clients and prospective customers with advice on resource
                                  4714                                                                                   6        8
                                           management issues

                                                                                    appraisal

                                           Prepare agency agreements, and appraisals of commercial and industrial
                                 4674**                                                                                  4        6
                                           sites and qualify clients

                                                                                                                                      9
 unit standard                                         title                                  level   credits

                                              real estate practice

      4693          Develop business plans for real estate firms                                6        8

                    Demonstrate knowledge of directing real estate entities under the
     5146*                                                                                      5        5
                    Companies Act 1993

     23132          Identify, evaluate, and manage risk in a real estate context                6        6

                    Develop a policies and practice manual to support real estate best
     26153**                                                                                    5       10
                    practice

                    Demonstrate knowledge of lawful structure for real estate business
     22306**                                                                                    5        4
                    entities

     26152**        Explain the principles of ethics applying to real estate practice           5        4

                                     sales and purchase agreements

                    Prepare agreements for the sale and purchase of a business relating to
     23146**                                                                                    4        4
                    the sale of franchise operations

                    Prepare sale and purchase agreements for complex situations relating to
     23150**                                                                                    4        4
                    residential property

                    Prepare sale and purchase agreements for complex situations relating to
     23152**                                                                                    4        4
                    rural property

               electives – you must complete at least one unit each from Business,
                                      residential and rural

          Business appraisal electives – complete one or more of the folloWing:

     23144**        Appraise and complete agency agreements for larger-sized business           4        6

                    Appraise, complete and explain agency agreements for smaller- and
     26151**                                                                                    4        9
                    medium-sized businesses

        residential appraisal electives – complete one or more of the folloWing:

                    Demonstrate knowledge of appraisals and complete investment analyses
      4669                                                                                      4        5
                    of residential properties

     4713**         Prepare appraisals of multi-unit residential properties                     4        4

                    Demonstrate an understanding of the subdivision process and appraise
     23151**                                                                                    5        5
                    vacant residential land

               rural appraisal elective – complete one or more of the folloWing:

     15501          Prepare appraisals of lifestyle properties                                  4        4

     23153**        Prepare appraisals of horticultural and specialised unit properties         4        5

     23154**        Prepare appraisals of pastoral and arable properties                        4        5




10
 unit standard                                           title                                     level   credits

                  agent electives – you must complete sufficient credits from the
                                   units BeloW to total 170 credits

                        Complete contracts and obtain authorities to manage commercial and
        4683                                                                                         5        4
                        industrial properties

       4684**           Prepare management plans for commercial and industrial properties            5        6

                        Attract and qualify tenants for commercial and industrial properties and
        4685                                                                                         5        7
                        prepare lease agreements

        4686            Manage tenants and leases for commercial properties                          5        5

        4687            Manage commercial 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 when managing a rental roll            6        6

       22308**          Manage tenanted apartments for a body corporate on an ongoing basis          4        4

       22309**          Prepare and conduct a body corporate meeting                                 5        3

                        Appraise, complete and explain agency agreements for smaller- and
       26151**                                                                                       4        9
                        medium-sized businesses

       23144**          Appraise and complete agency agreements for larger-sized businesses          4        6

* This unit standard has an open book assessment.
** These unit standards are not currently available.




                                                                                                                  11
General InformatIon
assessment                                                       We have a helpdesk for technical help or support. You can
                                                                 email our helpdesk at helpdesk@openpolytechnic.ac.nz
All units are internally assessed and there are no external      Please include your name and student ID number in the
examinations. All assignments must be word processed             message.
before being submitted for marking.

                                                                 study time
interactive workshops
                                                                 All courses have a credit value. This helps you work out
We hold real estate workshops regularly in Whangarei,            how much study time you will need. Allow about 10 hours
Auckland, Hamilton, Lower Hutt, Christchurch and                 of study for each credit. For example, a five-credit course
Dunedin, and from time to time in other parts of New             generally requires 50 hours of study.
Zealand. The workshops are not compulsory, but are highly
recommended. For details of workshops in your area go to:
www.openpolytechnic.ac.nz/realestate                             fees
                                                                 A full list of fees is available on our website.
Course materials
As well as paper-based course material, some of our              aDMiNistratioN fee
courses include site visits, practical exercises, e-learning     You will need to pay a non-refundable $55 administration
and specially prepared DVDs. You will also need to access        fee with your first enrolment for each academic year.
our student website, the Online Campus.

                                                                 set texts
entry requirements                                               There are no set texts for the real estate qualifications.
To enter the real estate qualification you must have a
minimum of eight NCEA Level 2 credits in English, four
in writing and four in reading, or be able to demonstrate
                                                                 loans, allowances and other
equivalent knowledge or skills.                                  funding
                                                                 Student loans and allowances are administered by
                                                                 StudyLink. For more information on loans and allowances
english language requirements                                    contact Studylink. See page 22 of this brochure for contact
You need to be able to read, write and speak well in             details.
English, so that you can communicate easily with clients
and customers. If English is not your first language, you
must provide a minimum IELTS overall test score of 5.5.          fiNaNCial assistaNCe
                                                                 We have a fund to help students who are in financial need
                                                                 and have no other options for financial support. Conditions
Computer requirements                                            apply. For more information please contact us. See page
You must have access to a computer, the internet and be          22 of this brochure for contact details.
able to do the following:
                                                                 We also offer a range of scholarships to support students.
· Send and receive emails                                        Go to: www.openpolytechnic.ac.nz, choose For
                                                                 Students, Enrolment and then click on Scholarships.
· Access and contribute to any Online Campus discussion
  forum
· Download documents
                                                                 enrolment
                                                                 Enrolment in these courses is open for application
· Carry out online research.
                                                                 throughout the year, so you can start at any time.
If you need to buy software, you can buy it at a special         Enrolment for each course is valid for 32 weeks, so you
academic price from most software sellers (generally             need to complete your study within this period. If you plan
about a third of the normal retail cost). You will need proof    to attend a workshop, check our website for dates.
you have been accepted into a course. You can use your
letter confirming your enrolment. There is a list of Microsoft
software resellers at www.microsoft.com/nz/retailers
We also recommend you install virus protection software.




12
licensing restrictions                                          liBrary
                                                                We provide a library service for our students. There is no
Criminal convictions, bankruptcy and previous loss of
                                                                additional fee for using it. The library service provides:
licence may stop you from becoming a real estate licensee.
Before you enrol we recommend you check the licensing           · Online resources
rules and regulations in the Real Estate Agents Act 2008.
                                                                · Guides on how to search for information
This Act is available at www.reaa.govt.nz
                                                                · A distance lending service with free and fast delivery.

learning support                                                You will find more information in the Student Handbook.


aCaDeMiC progress                                               New Zealand Qualifications
We are committed to helping you achieve your goals. If you
                                                                authority (NZQa)
need additional help, please contact your tutor for advice
and help.                                                       reCorD of aChieveMeNt
                                                                All our real estate qualifications are registered on the
your tutor                                                      National Qualifications Framework (NQF) administered by
                                                                the New Zealand Qualifications Authority (NZQA). If you are
You will have a tutor for each unit you study. Your tutor
                                                                already registered on the NZQA database, please provide
is there to help you through the course work, make sure
                                                                your Record of Achievement number or your national
you have understood the study material and check your
                                                                student number on your Application for Enrolment form.
progress. You can contact them on our freephone or
by email, fax or letter. Their contact details will be in the   If you are not registered, we will arrange this when you
information we send you when you enrol.                         have finished your first unit standard. Any unit standards
                                                                you gain through the year will be added to your Record of
                                                                Achievement.
stuDeNt haNDBook
The Student Handbook has important and useful                   You can access your Record of Achievement online or you
information about studying with us. We recommend you            can phone NZQA and ask for a copy of it. You can find out
read this. We will send you a copy after your enrolment         more on their website www.nzqa.govt.nz or call them on
is confirmed. It is also available to view on the Online        04 463 3000.
Campus.
                                                                   Note: The Real Estate Agents Authority does not
                                                                   keep a record of your academic progress.
stuDy help
When you enrol you will be sent a copy of our study guide
StudyWise.
                                                                applying for your qualification
The Learning Support section of our website also has
                                                                Once you have completed your study you need to apply to
information about the study support and resources we
                                                                NZQA for your qualification. See the Student Handbook,
offer.
                                                                which will be sent to you after you enrol, for more
                                                                information. This qualification will be required when you
oNliNe CaMpus                                                   apply to REAA for your licence. For information on current
                                                                licensing requirements visit www.reaa.govt.nz
The Online Campus is the area of our website where you
can:
· Access and submit assignments
                                                                further study
                                                                For information on other courses and qualifications
· Link to web pages specific to your course, including
                                                                available at Open Polytechnic, visit our website or contact
  frequently asked questions (FAQs), assessment hints,
                                                                us.
  web resources, staff information and, for some units,
  online quizzes and tutorials
· Communicate with other students in your course and
  with your tutor
· Access the library.




                                                                                                                             13
Course outlInes
You can find a full description of all unit standards on the   4684 prepare MaNageMeNt plaNs for
NZQA website www.nzqa.govt.nz                                  CoMMerCial aND iNDustrial properties

unit standards are listed in numerical order.
                                                               level: 5
                                                               Credits: 6
4669 DeMoNstrate kNowleDge of appraisal
aND CoMplete iNvestMeNt aNalyses of                            This unit will teach you how to identify commercial and
resiDeNtial properties                                         industrial property market needs, requirements and
                                                               opportunities, and identify the potential of properties
level: 4                                                       to meet these. You will also learn how to prepare
                                                               management plans, assess and report on lease
Credits: 4                                                     arrangements, and identify financial and other performance
This unit will help to identify the needs and wants of         objectives for properties.
prospective residential property investors. You will learn
how to estimate the likely costs, revenues and investment
performance of properties. You will also learn how to          4685 attraCt aND Qualify teNaNts for
                                                               CoMMerCial aND iNDustrial properties aND
prepare written appraisals of residential investment           prepare lease agreeMeNts
properties and give investment advice.

                                                               level: 5
4674 prepare ageNCy agreeMeNts, aND                            Credits: 7
appraisals of CoMMerCial aND iNDustrial
sites aND Qualify ClieNts                                      This unit teaches you how to research and select target
                                                               markets for commercial and industrial premises; develop
level: 4                                                       marketing plans and budgets for specific premises for
                                                               lease; qualify prospective lessees for commercial and
Credits: 6                                                     industrial properties; demonstrate an understanding of
This unit explains the processes of inspection and appraisal   conducting sales presentations with prospective lessees;
and the preparation processes of agreements for the sale       draft Heads of Agreement; and understand different types
of industrial and commercial properties.                       of Deeds of Lease.



4683 CoMplete CoNtraCts aND oBtaiN                             4686 MaNage teNaNts aND leases for
authorities to MaNage CoMMerCial aND                           CoMMerCial properties
iNDustrial properties
                                                               level: 5
level: 5                                                       Credits: 5
Credits: 4                                                     This unit discusses the area of commercial law that deals
This unit is for commercial and industrial property            with commercial and industrial leases. You will learn
managers. You will learn how to identify property owners’      to explain the rights, responsibilities and expectations
needs and specify proposed services to meet these in           of parties for leases; administer lease renewals and
draft management contracts. You will also learn how to         expirations; demonstrate knowledge and conduct rent
negotiate and complete accurate written management             reviews; resolve non-payment situations with tenants
contracts with property owners to manage commercial and        and explain resolution processes; and oversee vacated
industrial property on their behalf.                           premises including re-leasing, assignment, and sub-letting.




14
4687 MaNage CoMMerCial properties                               4695 iMpleMeNt the MarketiNg fuNCtioN iN
                                                                real estate firMs
level: 5
                                                                level: 5
Credits: 5
                                                                Credits: 5
This unit equips you to maintain records of operating
expenses and to disburse operating expenses; plan               This unit enables you to undertake real estate market
and schedule maintenance of systems and services;               research to identify market segments, and develop,
oversee maintenance and arrange and supervise repairs           implement and evaluate positioning strategies to access
to services and systems; demonstrate an understanding           those markets.
of requirements for insurance of commercial properties;
conduct property inspections; prepare inspection reports;
ensure compliance conditions are met; and arrange               4696 MaNage the staffiNg fuNCtioN iN real
Warrants of Fitness.                                            estate firMs

                                                                level: 5
4688 report oN the perforMaNCe of                               Credits: 5
CoMMerCial properties
                                                                This unit teaches you to design and analyse jobs to
level: 6                                                        assist in the recruitment, selection and induction of staff.
                                                                Applications to the Real Estate Agents Authority for
Credits: 5                                                      licences, the development of employment contracts and
You will learn how to calculate financial and investment        procedures for correcting unsatisfactory work are also
performance results and report these results to the owners      covered.
of commercial and industrial real estate. You will be able to
analyse commercial property investments using a variety
of methods, including discounted cash-flow techniques,          4697 faCilitate perforMaNCe of eMployees
various yields, sensitivity analyses and other criteria.        aND CoNtraCtors iN real estate firMs

                                                                level: 5
4693 Develop BusiNess plaNs for real estate                     Credits: 5
firMs
                                                                In this unit you will develop a performance management
level: 6                                                        plan for staff, set performance objectives and rewards,
                                                                and learn how to appraise staff. The identification of
Credits: 8                                                      work performance problems is outlined, and methods for
This unit will equip you to analyse your own business,          training, coaching and mentoring staff are all detailed.
your competitors’ businesses and the overall business
environment. You will learn how to prepare a mission
statement, strategic goals and action plans for your            4698 DeMoNstrate kNowleDge of teaM-
business, together with the budgets and resources needed        MaNageMeNt aND teaM-BuilDiNg MethoDs
                                                                appropriate for real estate firMs
to achieve these. You will also construct your own business
plan.
                                                                level: 5
                                                                Credits: 4
4694 outliNe plaNs for real estate projeCts
                                                                This unit identifies and explains team-building methods
                                                                and discusses areas of potential conflict with possible
level: 4
                                                                resolutions. It also covers methods and planning for
Credits: 3                                                      problem-solving meetings and how to achieve change
                                                                management in real estate firms.
This unit shows you how to define the goals and tasks for
a specific real estate project, and plan how they will be
achieved.




                                                                                                                               15
4699 DeMoNstrate kNowleDge of fiNaNCial                        4704 faCilitate the DisCharge of real estate
traNsaCtioNs aND fiNaNCial stateMeNts for                      CoNtraCts
real estate firMs
                                                               level: 5
level: 4
                                                               Credits: 3
Credits: 4
                                                               This unit deals with the discharge of real estate contracts
This unit looks at end-of-period statements including          and identifies contracts that might be invalid or unable
profit and loss statements and balance sheets. Financial       to be enforced. You will learn the main reasons that real
processes and procedures and documents for real estate         estate contracts might be enforceable even if only part of
firms are also outlined.                                       the conditions surrounding them have been met. Training
                                                               for staff is also covered.

4700 MaNage trust aCCouNts iN real estate
firMs                                                          4705 MaNage real estate CoNtraCts of
                                                               ageNCy
level: 5
Credits: 4                                                     level: 5

You will learn how to carry out monthly reconciliations of     Credits: 3
company and bank records and receive and pay trust             This law unit will show you how to develop training systems
monies. The unit also explains the requirements of the Real    for staff working on real estate agency agreements.
Estate Agents Act 2008 and the Real Estate Agents (Audit)      Relationships between the parties involved in such
Regulations 2009.                                              agreements are also highlighted.


4702 iMpleMeNt iNterNal CoNtrols aND                           4707 explaiN leasiNg, legal aND fiNaNCial
CoNDuCt iNterNal CheCks aND auDits iN real                     Matters to ClieNts aND prospeCtive
estate firMs                                                   CustoMers

level: 5                                                       level: 5
Credits: 3                                                     Credits: 4
This unit discusses a range of financial controls including    This law unit will show you how to explain a range of
banking and cash procedures, verifications and other           legal terms used in real estate using both verbal and
reconciliation techniques.                                     written communication skills. It will also teach you about
                                                               mortgages, sources of finance, and tenancy agreements.

4703 MaNage the preparatioN of real estate
CoNtraCts                                                      4713 prepare appraisals of Multi-uNit
                                                               resiDeNtial properties
level: 5
Credits: 4                                                     level: 4

This unit will help you to identify breaches associated with   Credits: 4
real estate contracts and how to resolve them. It will also    In this unit you will learn several different ways to appraise
equip you to instigate a training programme to ensure that     the market value of multi-unit residential properties,
staff are able to prepare contracts and conduct themselves     including how to determine the best use and highest return
according to the legislation involved, particularly the Fair   for a specific site. The unit also explores different forms of
Trading Act 1986 and Consumer Guarantees Act 1993.             legal ownership.




16
4714 proviDe ClieNts aND prospeCtive                                   23132 iDeNtify, evaluate, aND MaNage risk iN a
CustoMers with aDviCe oN resourCe                                      real estate CoNtext
MaNageMeNt issues
                                                                       level: 6
level: 6
                                                                       Credits: 6
Credits: 8
                                                                       This unit discusses the identification and evaluation of
As well as requiring you to give general advice on resource            risks. In addition, it outlines how to develop policies and
management issues to clients, this law unit outlines specific          procedures to control the risks your business might face.
advice on subdivision and proposed activities for particular
properties. The process of applying for resource consent is
also outlined.                                                         23134 DeMoNstrate kNowleDge of laND
                                                                       owNership, traNsfer of owNership aND titles

5146 DeMoNstrate kNowleDge of DireCtiNg                                level: 5
real estate eNtities uNDer the CoMpaNies aCt
1993                                                                   Credits: 4
                                                                       This unit identifies the types of property ownership in
level: 5                                                               New Zealand and the differences between each one. It
Credits: 5                                                             discusses certificates of title and how to identify possible
                                                                       problems that might affect a sale transaction. It explains
In this unit you will learn how to register a limited liability real   how the title to land and the interest in land are transferred
estate company and learn about the director’s obligations              from one owner to another, and the various ways a transfer
under the Companies Act. This unit also covers records                 can occur.
management and outlines solvency tests for businesses.


                                                                       23135 DeMoNstrate kNowleDge of the law of
15500 estaBlish a preseNCe iN the real estate                          CoNtraCt aND the law of ageNCy
Market

                                                                       level: 4
level: 4
                                                                       Credits: 5
Credits: 4
                                                                       This unit explains the elements that are needed to create
Identifying your target market and developing a strategy               a legally binding contract for the sale and purchase of
to reach it are essential parts of establishing yourself in            property, as well as how contracts may be cancelled. It
real estate. This unit will show you how to design a direct            also examines the special relationship that exists between
marketing campaign, analyse its effectiveness and develop              a client and the real estate agency.
promotional materials.


                                                                       23136 DeMoNstrate kNowleDge of
15501 prepare appraisals of lifestyle                                  MisleaDiNg aND DeCeiviNg CoNDuCt aND
properties                                                             MisrepreseNtatioN

level: 4                                                               level: 4
Credits: 4                                                             Credits: 4
Lifestyle properties have become very popular in recent                This unit looks at the main provisions of the Fair Trading Act
years. In this unit, you will learn the different methods used         1986 and the Contractual Remedies Act 1979. It examines
to appraise lifestyle properties and how to explain agency             examples of misleading and deceptive conduct and warns
agreements to prospective clients.                                     of the pitfalls that might lead to penalties. It also details the
                                                                       health and safety requirements involved when selling real
                                                                       estate.
22306 DeMoNstrate kNowleDge of lawful
struCture for real estate BusiNess eNtities

level: 5
Credits: 4
This unit looks at the advantages and disadvantages of
different types of real estate business entities, ranging from
sole trader to public company.

                                                                                                                                    17
23137 DeMoNstrate kNowleDge of the sale                       23144 appraise aND CoMplete ageNCy
aND purChase agreeMeNt aND faCilitate the                     agreeMeNts for larger-siZeD BusiNesses
sale of real estate
                                                              level: 4
level: 4
                                                              Credits: 6
Credits: 4
                                                              This unit teaches you to appraise the market value
The drafting of this legally binding document forms an        of larger-sized businesses, and will show you how to
integral part of the negotiation and sale process. Each       complete and explain agency agreements.
clause in the agreement has relevance to the signing
parties and explains their rights and obligations. This
unit highlights techniques for overcoming objections          23146 prepare agreeMeNts for the sale aND
and achieving a successful sale. It also covers further       purChase of a BusiNess relatiNg to the sale
steps such as financing options, special requirements for     of fraNChise operatioNs
international buyers and after-sale service.
                                                              level: 4
                                                              Credits: 4
23138 DeMoNstrate kNowleDge of CouNCil
ZoNiNg aND BuilDiNg law NeeDeD to aCt as a                    In this unit you will learn how to prepare clauses and
real estate salespersoN                                       correct errors in draft agreements for the sale and
                                                              purchase of a franchised business.
level: 3
Credits: 3
                                                              23150 prepare sale aND purChase agreeMeNts
Here you will learn about site development in keeping         for CoMplex situatioNs relatiNg to
with resource management law. You will also learn about       resiDeNtial property
various council requirements and what property owners
can and cannot do under the terms of the Building             level: 4
Act 2004. The unit clearly explains the process and
                                                              Credits: 4
requirements for obtaining building documentation, such as
building consents and Code Compliance Certificates.           This unit explains how to draft agreements for the sale and
                                                              purchase of residential properties in complex situations,
                                                              such as vacant residential land, properties on unit titles and
23140 Develop MarketiNg plaNs for real                        those owned by company shares. It also explains how to
estate, Qualify CustoMers, aND preseNt                        draft specialised clauses to meet particular needs and how
properties for sale                                           to correct errors and omissions in agreements.

level: 4
                                                              23151 DeMoNstrate aN uNDerstaNDiNg of the
Credits: 4
                                                              suBDivisioN proCess aND appraise vaCaNt
This unit describes how to create marketing plans by          resiDeNtial laND
exploring the best way to present and promote property for
sale. It covers the marketing process, such as preparing      level: 5
and developing the advertising budget, including any
                                                              Credits: 5
vendor contribution required, and developing promotional
material to match the agreed plan. The unit also looks at     In this unit you will be introduced to methods of appraising
ways to establish the motivation and ability of prospective   the market value of vacant residential land. It also covers
purchasers to buy particular properties.                      the process for developing vacant residential land for the
                                                              purposes of subdivision.

23141 DeMoNstrate uNDerstaNDiNg of legal
Matters affeCtiNg real estate liCeNsees

level: 5
Credits: 4
This unit looks at legislation that affects real estate. It
examines issues such as resource management, privacy,
human rights, tenancy and other subject areas in order
to protect employees, contractors, employers and clients
from legal repercussions resulting from breaches of these
Acts.
18
23152 prepare sale aND purChase agreeMeNts                       26151 appraise, CoMplete aND explaiN ageNCy
for CoMplex situatioNs relatiNg to rural                         agreeMeNts for sMaller aND MeDiuM-siZeD
property                                                         BusiNesses

level: 4                                                         level: 4
Credits: 4                                                       Credits: 9
In this unit you are shown how to prepare clauses and            This unit teaches you to prepare and explain agency
identify and correct errors in draft agreements for the          agreements relating to appraisal of smaller and medium-
sale and purchase of pastoral, arable, horticultural or          sized businesses.
specialised farms. After-sales service and the obligations,
restrictions and implications for licensees in drafting these
agreements are also outlined.                                    26152 explaiN the priNCiples of ethiCs
                                                                 applyiNg to real estate praCtiCe

26148 DeMoNstrate kNowleDge aND use of                           level: 5
iNspeCtioN, appraisal aND ageNCy agreeMeNt
for real estate property                                         Credits: 4
                                                                 This unit describes the principles of business ethics. These
level: 4                                                         are then applied to the real estate industry through the
Credits: 6                                                       examination of ethical dilemmas.

This unit establishes the motivation of the seller and gives
a step-by-step outline of the initial appraisal process,         26153 Develop a poliCies aND praCtiCe MaNual
including how to explain the agency agreement and its            to support real estate Best praCtiCe
associated approved guide. This unit also discusses
various methods used to establish current market value,          level: 5
along with suitable methods of sale.
                                                                 Credits: 10
                                                                 This unit requires you to scope and prepare to develop
26149 DeMoNstrate kNowleDge of liCeNsiNg                         policies and practice manual to fulfil agency requirements;
aND CoDe of professioNal CoNDuCt uNDer                           develop and write the policies and practice manual to
the real estate ageNts aCt 2008
                                                                 meet industry requirements; and plan and develop the
                                                                 requirements for ongoing review of the policies and
level: 4                                                         practice manual.
Credits: 4
This unit explains the roles and responsibilities of people      26154 DeMoNstrate kNowleDge of
within the real estate industry, their need to be licensed and   reQuireMeNts for properly supervisiNg aND
the standards of professional conduct they must maintain.        MaNagiNg a real estate BusiNess
The associated complaints procedure is also outlined.
                                                                 level: 5

26150 DeMoNstrate kNowleDge of MethoDs                           Credits: 4
for sale of real estate iN New ZealaND                           This unit looks at different legal entities for owning a real
                                                                 estate business, the need to maintain proper supervision
level: 4                                                         of salespeople and the implications of not complying with
Credits: 4                                                       relevant legislation and rules.

This unit explains the auction and tender methods of selling
real estate. It analyses the key parts of both the auction
and tender documents, outlines the obligations of all the
parties and the regulation requirements for different types
of marketing methods. Sale by negotiation and fixed price
are also discussed.




                                                                                                                             19
appendIx 1 – transItIonInG from old real
estate unIt standards or qualIfICatIons
If you studied any of the real estate unit standards below before 1 July 2010 you might be exempt from some units in the
current qualifications. A list of automatic exemptions is given below.


NC1543 NatioNal CertifiCate iN real estate (salespersoN) versioN 1

          old unit standards completed                                              exempt from

                         4656, 4657                                                      23140

                         4658, 4659                                                      23137

                           23139                                                         26148


NC1288 NatioNal CertifiCate iN real estate (BraNCh MaNager) versioN 3

          old unit standards completed                                              exempt from

                         4689, 4712                                                  23144, 26151

                            4709                                                     23153, 23154

                            4710                                                         23151

                        23142, 23143                                                     26151


ND5325 NatioNal DiploMa iN real estate (liCeNsee) versioN 6

          old unit standards completed                                              exempt from

                         4689, 4712                                                  23144, 26151

                            4709                                                     23153, 23154

                            4710                                                         23151

                            4701                                                         23132

                            4668                                                         23150

                            4673                                                         23152

                        23142, 23143                                                     26151




20
appendIx 2 – GuIde to studY tImes
The times stated in this chart are estimated for students who have minimal real estate knowledge. If you have extensive real
estate knowledge or experience you may need less time.

                            national certificate in real estate (salesperson)

 Duration                    2 months as a full time student including 16 days of interactive workshops

 Class times                 9.00 am – 3.00 pm

                          national certificate in real estate (Branch manager)

                             3 – 6 months full-time including 16 days of interactive workshops
 Duration
                             Up to 2 years part-time

 Class times                 9.00 am – 3.00 pm

                                   national diploma in real estate (agent)

                             10 – 12 months full-time or 3 months full time if you have already completed the
                             National Certificate in Real Estate (Branch Manager) including 12 days of interactive
 Duration                    workshops.
                             Up to 3 years part-time

 Class times                 9.00 am – 3.00 pm

For up-to-date workshop times for all qualifications see the enclosed workshop schedule or visit
www.openpolytechnic.ac.nz/realestate




                                                                                                                          21
     Contact us
     Website: www.openpolytechnic.ac.nz
     Freephone: 0508 650 200
     Overseas phone: +64 4 913 5300
     Email: customerservices@openpolytechnic.ac.nz
     Private Bag 31914
     Lower Hutt 5040
     New Zealand


     other useful CoNtaCt Details

     studylink
     Website: www.studylink.govt.nz
     Phone: 0800 889 900


     NZQa
     Website: www.nzqa.govt.nz
     Phone: 04 463 3000
     Email: helpdesk@nzqa.govt.nz
     PO Box 160
     Wellington 6140


     reaa
     Website: www.reaa.govt.nz
     Phone: 0800 367 7322
     Real Estate Agents Licensing Authority
     PO Box 25371
     Panama Street
     Wellington 6146


     reiNZ
     Email: reinz@reinz.co.nz
     Phone: 09 356 1755
     PO Box 5663
     Auckland 1052




22
notes




        23
notes




24
appendix 3 – Real estate qualifications
(RequiRed foR licensing fRom 1 July 2010)
        NatioNal CertifiCate iN             NatioNal CertifiCate iN real estate         NatioNal DiploMa iN real estate
   real estate (salespersoN) NC1543              (BraNCh MaNager) NC1288                        (ageNt) ND5325

    (VersioN 1) (leVel 4) NQf ref: 1543      (VersioN 3) (leVel 5) NQf ref: 1288        (VersioN 6) (leVel 5) NQf ref: 0100
                                                CoMpulsory uNits           CreDits         CoMpulsory uNits            CreDits
       CoMpulsory uNits           CreDits   uNits 15500, 23137, 23140, 26148, 26150    uNits 15500, 23137, 23140, 26148, 26150
                                             are Not reQuireD at this leVel.            are Not reQuireD at this leVel.
                          23134      4                             23134       4                               23134      4
                          23135      5                             23135       5                               23135      5
                          23136      4                             23136       4                               23136      4
                          23138      3                             23138       3                               23138      3
                          23141      4                             23141       4                               23141      4
                          26149      4                             26149       4                               26149      4
                          15500      4                              4699       4                               4699       4
                          23137      5            Finance           4700       4              Finance          4700       4
                          23140      4                              4702       3                               4702       3
                          26148      6                              4694       3                               4694       3
                          26150      4                              4695       5                               4695       5
                          total     47                              4696       5                               4696       5
                                                Management                                 Management
                 No eleCtiVes                                       4697       5                               4697       5
                                                                    4698       4                               4698       4
                                                                   26154       4                               26154      4
                                                                    4703       4                               4703       4
                                                                    4704       3                               4704       3
                                                    Law             4705       3               Law             4705       3
                                                                    4707       4                               4707       4
                                                                    4714       8                               4714       8
                                                 Appraisal          4674       6             Appraisal         4674       6
                                            Compulsory credits     total       89      Compulsory credits      total      89
                                                                                                               4693       8
                                                                                                               5146       5
                                                                                                               23132      6
                                                                                        Real Estate Practice
Key                                                                                                            26153      10
Unit available now                                                                                             22306      4
Unit not yet available                                                                                         26152      4
                                                                                                               23146      4
                                                                                        Sales and Purchase
                                                                                                               23150      4
                                                                                           Agreements
                                                                                                               23152      4
                                                                                       Compulsory credits      total      49
                                            plus appraisal eleCtiVes       CreDits     plus appraisal eleCtiVes        CreDits
                                             appraisal eleCtiVes - oNe uNit is         appraisal eleCtiVes - oNe uNit or
                                            reQuireD froM eaCh of BusiNess ,            More is reQuireD froM eaCh of
                                                   resiDeNtial , rural.                  BusiNess, resiDeNtial, rural.
                                                                   23144       6                               23144      6
                                                  Business                                   Business
                                                                   26151       9                               26151      9
                                                                    4669       5                               4669       5
                                                 Residential        4713       4            Residential        4713       4
                                                                   23151       5                               23151      5
                                                                   15501       4                               15501      4
                                                   Rural           23153       5               Rural           23153      5
                                                                   23154       5                               23154      5
                                            subject to electives   total     14-19     subject to electives    total    14-19
                                                                                       plus suffiCieNt CreDits froM ageNt
                                                                                      eleCtiVes Below to total 170 CreDits
                                                                                                               4683       4
                                                                                                               4684       6
                                                                                                               4685       7
                                                                                                               4686       5
                                                                                                               4687       5
                                                                                                               4688       5
                                                                                                               22303      6
                                                                                                               22305      6
                                                                                                               22308      4
                                                                                                               22309      3



                                                                                                                       25
RE   0311




            Open Polytechnic
            Freephone 0508 650 200
            Overseas phone +64 4 913 5300
            www.openpolytechnic.ac.nz
            Private Bag 31914 · Lower Hutt 5040 · New Zealand

				
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