NZQA registered unit standard
4704 version 7
Page 1 of 4
Title
Facilitate the discharge of real estate contracts
Level
5
Purpose
Credits
3
This unit standard is for people who intend to operate as
branch managers or agents in the real estate industry.
People credited with this unit standard are able to:
–
facilitate the discharge of real estate contracts;
–
identify real estate contracts that may be invalid or
unenforceable;
–
identify and explain the reasons why real estate contracts
may be enforceable due to part performance; and
–
enable staff to facilitate the discharge of real estate
contracts.
Classification
Real Estate > Real Estate Management
Available grade
Achieved
Recommended skills
and knowledge
Unit 4703, Manage the preparation of real estate contracts, or
demonstrate equivalent knowledge and skills.
Explanatory notes
1
References
Companies Act 1993;
Consumer Guarantees Act 1993;
Contractual Remedies Act 1979;
Credit Contracts and Consumer Finance Act 2003;
Fair Trading Act 1986;
Human Rights Act 1993;
Land Transfer Act 1952;
Overseas Investment Act 2005;
Overseas Investment Regulations 2005;
Property Law Act 2007;
Property (Relationships) Act 1976;
Real Estate Agents Act 2008;
Residential Tenancies Act 1986;
Unit Titles Act 2010;
and all subsequent amendments and replacements.
ElectroTechnology industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
4704 version 7
Page 2 of 4
2
Definitions
Industry requirements mean all actions must comply with relevant professional body
standards, legislation, codes of professional conduct and client care, and approved
guides. Legislation is available from http://www.legislation.govt.nz and codes of
professional conduct and client care, and approved guides are available from
http://www.reaa.govt.nz.
Approved guides mean the two approved guides developed by the Real Estate
Agents Authority covering an agency agreement and a sale and purchase
agreement. These are available from http://www.reaa.govt.nz.
Common Law is also known as case law – judgements made by courts, rather than
laws written by parliament. Judgements relating to the duties of an ‘agent’ may be
applicable to this unit standard.
Company procedures are the specific procedures used in real estate companies and
vary from company to company. All must comply with the Real Estate Agents Act
2008 and any applicable real estate regulations that may apply.
3
Assessment
This unit standard must be assessed on the basis of evidence of demonstrated
performance in the workplace or in simulated work situations designed to draw upon
similar performance to that required in the workplace.
Outcomes and evidence requirements
Outcome 1
Facilitate the discharge of real estate contracts.
Evidence requirements
1.1
The discharge of real estate contracts is facilitated and is consistent with
industry requirements.
Range
includes but is not limited to – contract performance, agreement,
frustration of contract specific performance;
evidence is required of facilitating the discharge of three different
real estate contracts.
Outcome 2
Identify real estate contracts that may be invalid or unenforceable.
Evidence requirements
2.1
The identification of contracts that are invalid or unenforceable is consistent with
the requirements of the relevant legislation.
Range
includes but is not limited to – Contractual Remedies Act 1979,
Real Estate Agents Act 2008, Credit Contracts and Consumer
Finance Act 2003, Overseas Investment Regulations 2005,
Property (Relationships) Act 1976.
ElectroTechnology industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
2.2
4704 version 7
Page 3 of 4
The likelihood of contracts being invalid or unenforceable is determined in the
light of the circumstances, legal requirements, and professional advice.
Range
evidence is required of three factors likely to make a contract
unenforceable or invalid.
Outcome 3
Identify and explain the reasons why real estate contracts may be enforceable due to part
performance.
Evidence requirements
3.1
Contracts that may be enforceable due to part performance are identified and
the likelihood of contracts being enforceable is determined in the light of the
circumstances, legal requirements, and professional advice.
Range
evidence is required for two different contracts.
Outcome 4
Enable staff to facilitate the discharge of real estate contracts.
Evidence requirements
4.1
Information and systems on the discharge of contracts are provided for staff,
consistent with industry requirements.
Range
proper supervision of salespeople as defined in s 50 of the Real
Estate Agents Act 2008.
4.2
A training programme, developed to enable staff to manage the discharge of
real estate contracts in accordance with legal, company procedures, and
industry requirements, is outlined.
4.3
Two resources are developed to support staff in the work associated with the
discharge of real estate contracts in accordance with industry requirements.
Planned review date
31 December 2015
ElectroTechnology industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
4704 version 7
Page 4 of 4
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
27 July 1995
31 December 2013
Revision
2
13 November 1997
31 December 2013
Review
3
19 January 1999
31 December 2013
Revision
4
14 March 2003
31 December 2013
Review
5
18 December 2006
31 December 2013
Review
6
12 February 2010
31 December 2013
Rollover and
Revision
7
16 August 2012
N/A
Consent and Moderation Requirements (CMR) reference
0003
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA,
before they can report credits from assessment against unit standards or deliver courses
of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and
which are assessing against unit standards must engage with the moderation system that
applies to those standards.
Requirements for consent to assess and an outline of the moderation system that applies
to this standard are outlined in the Consent and Moderation Requirements (CMR). The
CMR also includes useful information about special requirements for organisations wishing
to develop education and training programmes, such as minimum qualifications for tutors
and assessors, and special resource requirements.
Comments on this unit standard
Please contact the ElectroTechnology Industry Training Organisation at
reviewcomments@etito.co.nz if you wish to suggest changes to the content of this unit
standard.
ElectroTechnology industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016