NZQA registered unit standard
23148 version 3
Page 1 of 4
Title
Qualify customers and demonstrate knowledge of investment factors
for commercial and industrial properties
Level
4
Purpose
Credits
4
This unit standard is for people preparing to enter into, or who
are currently working in, the commercial and industrial sectors
of the real estate industry.
People credited with this unit standard are able to:
–
qualify prospective commercial and industrial real estate
customers; and
–
demonstrate knowledge of types of investment factors
and terms for prospective customers of commercial and
industrial properties.
Classification
Real Estate > Rural, Residential, Commercial and Business
Sales
Available grade
Achieved
Explanatory notes
1
References
Building Act 2004;
Consumer Guarantees Act 1993;
Employment Relations Act 2000;
Fair Trading Act 1986;
Financial Transactions Reporting Act 1996;
Goods and Services Tax Act 1985;
Holidays Act 2003;
Human Rights Act 1993;
Overseas Investment Act 2005;
Overseas Investment Regulations 2005;
Privacy Act 1993;
Real Estate Agents Act 2008;
Residential Tenancies Act 1986;
Resource Management Act 1991;
Unit Titles Act 2010;
and all subsequent amendments and replacements.
2
Definitions
Client means the person on whose behalf an agent carries out real estate agency
work and is commonly known in the industry as a vendor or seller.
Customer means a person who is a buyer or potential buyer of land or a business
and is commonly known in the industry as purchaser or buyer.
ElectroTechnology industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
23148 version 3
Page 2 of 4
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.
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.
Prospective customer means a person who is considering or intending to enter into
an agency agreement with an agent to carry out real estate agency work.
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.
4
Evidence must be presented of qualifying and advising two different customers; one
customer for a commercial property and one customer for an industrial property.
Outcomes and evidence requirements
Outcome 1
Qualify prospective commercial and industrial real estate customers.
Evidence requirements
1.1
The needs and wants of the customer are assessed.
Range
may include but is not limited to – financial situation, motivation,
timeframes, type of property needed or wanted, required rate of
return, location of property sought.
1.2
Authority to sign contracts is determined to reflect the legal authority of
purchasing entity.
1.3
Qualifying information is recorded and compared with listing information and
potential matches between prospects and properties are identified.
1.4
Rapport is built with the prospective customer in accordance with industry
requirements.
Range
rapport includes – understanding clients needs, motivation,
listening and reflecting back understanding, types of questioning.
Outcome 2
Demonstrate knowledge of types of investment factors and terms for prospective
customers of commercial and industrial properties.
ElectroTechnology industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
23148 version 3
Page 3 of 4
Evidence requirements
2.1
Investment factors and terms are explained to the prospective customer
consistent with company and industry requirements.
investment factors and terms include – economic factors, financing
of property, GST implications and other tax matters, location,
features of property, financial performance, occupancy rates,
market rentals, market capitalisation rates; other market factors.
Range
Replacement information
This unit standard replaced unit standard 4676.
Planned review date
31 December 2015
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
18 December 2006
31 December 2013
Review
2
12 February 2010
31 December 2013
Rollover and
Revision
3
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.
ElectroTechnology industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
23148 version 3
Page 4 of 4
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