NZQA registered unit standard
23149 version 3
Page 1 of 5
Title
Prepare Agreement for Sale and Purchase of Real Estate form for
commercial and industrial properties
Level
5
Purpose
Credits
5
This unit standard is for salespersons in the commercial and
industrial sectors of the real estate industry.
People credited with this unit standard are able to:
–
identify and correct errors and omissions in an Agreement
for Sale and Purchase of Real Estate form for commercial
and industrial properties;
–
draft an Agreement for Sale and Purchase of Real Estate
form for vacant commercial and industrial land;
–
draft an Agreement for Sale and Purchase of Real Estate
form for a commercial and an industrial property;
–
demonstrate an understanding of the negotiation of offers
with client and customer; and
–
demonstrate an understanding of GST requirements in
respect to the sale and purchase of commercial and
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.
ElectroTechnology Industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
23149 version 3
Page 2 of 5
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.
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.
Agreement for Sale and Purchase of Real Estate form is the REINZ and Auckland
District Law Society (ADLS) approved form. A plain English version of this form is
available from REINZ.
Complex situations examples include – vacant residential land, property on stratum
ownership, property owned by a trust, property owned by company shares,
subdivision, property with covenants, cross lease, matrimonial property, property
affected by the Overseas Investment Act 2005.
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.
Plain English is language that either does not use industry-specific words, or that
limits or explains industry-specific words so that people outside the real estate
industry can more easily understand.
REINZ means the Real Estate Institute of New Zealand.
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 facilitating the sale and purchase of one commercial
and one industrial property.
Outcomes and evidence requirements
Outcome 1
Identify and correct errors and omissions in an Agreement for Sale and Purchase of Real
Estate form for commercial and industrial properties.
Range
for assessment a copy of the Agreement for Sale and Purchase of Real Estate
form will be supplied by the assessor.
ElectroTechnology Industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
23149 version 3
Page 3 of 5
Evidence requirements
1.1
Errors and omissions in an Agreement for Sale and Purchase of Real Estate
form are identified that are not consistent with client and industry requirements.
1.2
Errors and omissions in an Agreement for Sale and Purchase of Real Estate
form are corrected to meet client and industry requirements.
1.3
Agreement must be valid and enforceable in accordance with industry
requirements.
Outcome 2
Draft an Agreement for Sale and Purchase of Real Estate form for vacant commercial and
industrial land.
Evidence requirements
2.1
Agreement is drafted to meet industry requirements and the requirements of the
customer.
2.2
Agreement is drafted to reflect the state of the site in the development process.
2.3
Information is disclosed to the customer appropriate to the land.
Range
may include but is not limited to – covenants, drainage issues,
boundary issues, previous usage, consent requirements, usage
restrictions.
Outcome 3
Draft an Agreement for Sale and Purchase of Real Estate form for a commercial and an
industrial property.
Evidence requirements
3.1
Agreement is drafted to meet industry and customer requirements and is in
plain English.
3.2
Agreement covers complex situations specific to a commercial or an industrial
property.
3.3
Information is disclosed to the customer appropriate to the property in
accordance with industry requirements.
Outcome 4
Demonstrate an understanding of the negotiation of offers with client and customer.
Evidence requirements
ElectroTechnology Industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
23149 version 3
Page 4 of 5
4.1
Negotiation principles and methods are explained in accordance with industry
requirements.
4.2
New and counter-offers are explained to the parties in a manner consistent with
industry requirements.
4.3
Need for correct legal signatories on agreements is explained in terms of
industry requirements.
4.4
Requirements for the distribution of copies and originals of the contract are
explained in terms of the case law and relevant legislation.
Outcome 5
Demonstrate an understanding of GST requirements in respect to the sale and purchase
of commercial and industrial property.
Evidence requirements
5.1
GST implications are explained regarding invoice, supply, settlement, a going
concern, zero rating, and other GST issues relevant to the sale and purchase of
commercial and industrial property.
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.
ElectroTechnology Industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
23149 version 3
Page 5 of 5
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