NZQA registered unit standard
26154 version 2
Page 1 of 3
Title
Demonstrate knowledge of requirements for properly supervising
and managing a real estate business
Level
5
Purpose
Credits
4
This unit standard is for people who intend to operate as
agents in the real estate industry.
People credited with this unit standard are able to:
−
demonstrate an understanding of the requirements of an
agent for maintaining proper supervision of salespeople
through acceptable management structures; and
−
analyse the implications of failure to maintain proper
supervision.
Classification
Real Estate > Real Estate Practice and Law
Available grade
Achieved
Explanatory notes
1
References
Companies Act 1993;
Consumer Guarantees Act 1993;
Fair Trading Act 1986;
Human Rights Act 1993;
Overseas Investment Act 2005;
Overseas Investment Regulations 2005;
Privacy Act 1993;
Real Estate Agents Act 2008;
Residential Tenancies Act 1986;
Unit Titles Act 2010;
and all subsequent amendments and replacements.
2
Definitions
Agent means a real estate agent who holds or is deemed to hold a current license as
an agent under the Real Estate Agents Act 2008.
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.
Proper supervision means that the agency work is carried out under such direction
and control of either a branch manager or an agent as is sufficient to ensure – (a)
that the work is performed competently; and (b) that the work complies with the
requirements of the Real Estate Agents Act (Professional Conduct and Client Care)
Rules 2009 which set out the code of professional conduct and client care.
ElectroTechnology industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
3
26154 version 2
Page 2 of 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
Demonstrate an understanding of the requirements of an agent for maintaining proper
supervision of salespeople through acceptable management structures.
Range
acceptable management structures include but are not limited to – hierarchy of
licensees, licensed salespeople with more than six months real estate industry
experience.
Evidence requirements
1.1
The requirements for maintaining proper supervision, as well as management of
business structures, are explained in terms of the Real Estate Agents Act 2008.
1.2
The explanation outlines the differences between types of trading entities that
may operate as real estate agents.
Range
includes but is not limited to – company, sole trader, partnership.
Outcome 2
Analyse the implications of failure to maintain proper supervision.
Evidence requirements
2.1
The risks of failure to maintain proper supervision of salespeople is analysed in
terms of the provisions of the Real Estate Agents Act 2008.
2.2
The duties of a real estate agent are researched and explained in accordance
with the Real Estate Agents Act 2008 and the Companies Act 1993.
Replacement information
This unit standard replaced unit standard 22314.
Planned review date
31 December 2015
ElectroTechnology industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
26154 version 2
Page 3 of 3
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
12 February 2010
31 December 2013
Rollover and
Revision
2
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
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