NZQA registered unit standard
23444 version 3
Page 1 of 3
Title
Develop an investment summary for, and explain the property
description of, a commercial or industrial property
Level
4
Purpose
Credits
4
This unit standard is for salespersons the commercial/industrial
sector of the real estate industry.
People credited with this unit standard are able to develop an
investment summary for, and explain the property description
of, a commercial or industrial property.
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
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.
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.
Industry requirements mean all actions must comply with legislation, codes of
professional conduct and client care, and approved guides. Legislation is available
ElectroTechnology Industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
23444 version 3
Page 2 of 3
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.
Prospective customer means a person who is considering or intending to enter into
an agreement for sale and purchase of a property.
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
Develop an investment summary for, and explain the property description of, a commercial
or industrial property.
Range
evidence is required of one investment summary and one property description
for either a commercial or an industry property.
Evidence requirements
1.1
The investment summary is drafted to include the most relevant property
information for prospective customers in accordance with company procedures
and industry requirements.
Range
1.2
may include but is not limited to – location, asking price, rents and
rent breakdown, outgoings, rate of return, lease details, tenancy
schedule, site area, title, legal description, zoning, floor area and
floor area breakdown, age of building, construction of building,
parking, condition of property, tenant information and benefits of
the property.
The explanation of the property description includes detailed property-specific
factors for the prospective customer in accordance with industry requirements.
Range
may include – detailed information on building methods and
materials; locations in relation to customers and markets; access
and transport facilities; frontage and contour; site shape; floor
plans; stud heights; bearing capacities of floors, soils, and
structures; corner influence; features and characteristics; potential
uses; versatility; availability of essential services; easements and
covenants; detailed requirements and provisions of territorial
authorities; infrastructure; property photo; location map and
supporting services.
ElectroTechnology Industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
23444 version 3
Page 3 of 3
1.3
The explanation of the property descriptions is accurate and comprehensive for
the specific property.
1.4
The explanation includes any disclosure requirements in accordance with the
Real Estate Agents Act 2008.
1.5
The explanation of the property descriptions are peer reviewed by the agent or
branch manager to ensure compliance with industry requirements.
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
20 November 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 (CMRs). 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