NQF Ref
0101
Version
5
Page1 of12
National Certificate in Real Estate with strands in Business Sales,
Commercialllndustrid Sales, Residential Sales, Rural Sales,
Commercialllndustrid Property Management, and Residential Property
Management
Level
4 o r 5 depending o n strand
Credits
77-89
Purpose
This National Certificate is awarded to people who have demonstrated competence in the
knowledge and skills required of salespeople in the real estate agency industry.
Holders of this qualification are able to: demonstrate an understanding of the real estate
industry and practice in New Zealand; the auction and tender methods for sale of real
estate in New Zealand; knowledge of land ownership, transfer of ownership, and titles; law
of contract, and the law of agency; misleading and deceiving conduct and
misrepresentation; the sale and purchase agreement and facilitating the sale of real
estate; and council zoning and building law, needed to act as a real estate agent. These
skills are requirements of the Certificate of Approval Real Estate Salesperson issued by
the Real Estate Agents Licensing Board.
Holders of this qualification are also able to: prepare condition and redevelopment
potential reports for potential vendors and purchasers; demonstrate knowledge and use of
listing form and of appraising property; develop marketing plans for real estate, qualify
purchasers, and present properties for sale; demonstrate understanding of legal matters
affecting real estate salespersons and property managers; demonstrate knowledge of
basic real estate marketing; and building styles, methods, and materials.
This qualification is structured to allow specialisation in one of the six sectors of real
estate.
Within the business sales sector, holders of this qualification are able to: interpret the
results of a company through the analysis of financial statements; establish a presence in
the real estate market; appraise smaller businesses; appraise medium size businesses;
appraise larger size businesses; facilitate the sale and purchase of businesses; prepare
Agreement for Sale and Purchase of a Business relating to sale of franchise operations;
demonstrate knowledge of the business broking sector in real estate; and develop
descriptions for use in marketing businesses for sale.
Within the commercial/industriaI sales sector, holders of this qualification are able to:
establish a presence in the real estate market; prepare appraisals of commercial and
industrial sites and qualify vendors; list commercial and industrial properties and market
listings; qualify purchasers and demonstrate knowledge of investment factors for
commercial and industrial properties; prepare Agreement for Sale and Purchase of Real
Estate for commercial and industrial properties; and develop an investment summary for,
and explain the property description of, a commercial or industrial property.
REINZ Industry Training Organisation Ltd
SSB Code 101578
O New Zealand Qualifications Authority 2008
NQF Ref
0101
Version
5
Within the residential sales sector, holders of this qualification are able to: establish a
presence in the real estate market; demonstrate an understanding of the Unit Titles Act
1972; demonstrate knowledge of appraisal and complete investment analyses of
residential properties; prepare appraisals of multi-unit residential properties; prepare
appraisals of lifestyle properties; prepare sale and purchase agreements for complex
situations relating to residential property; demonstrate an understanding of the sub-division
process and appraise vacant residential land; and develop property descriptions of
residential properties.
Within the rural sales sector, holders of this qualification are able to: establish a presence
in the real estate market; list rural properties and promote listings; prepare appraisals of
lifestyle properties; prepare sale and purchase agreements for complex situations relating
to rural property; prepare appraisals of horticultural and specialised unit properties;
prepare appraisals of pastoral and arable properties; and develop property descriptions of
rural properties.
Within the commercial1industriaI property management sector, holders of the qualification
are able to: obtain contracts and authorities to manage; prepare management plans for
commercial and industrial properties; attract and qualify tenants for commercial and
industrial properties and prepare lease agreements; manage tenants and leases for
commercial properties; manage commercial properties; and report on the performance of
commercial properties.
Within the residential property management sector, holders of the qualification are able to:
demonstrate an understanding of the Unit Titles Act 1972; demonstrate knowledge of rent
reviews and recommend rental ranges for residential property; list and market residential
rental properties and market residential property management services; manage tenanted
residential property on an ongoing basis; complete tenancy agreements for residential
property; manage the tenants of rented residential property; demonstrate knowledge of the
Residential Tenancies Act 1986 and prepare tribunal applications; and demonstrate
knowledge of appraisal and complete investment analyses of residential properties.
This qualification leads onto the National Certificate in Real Estate (Branch Manager)
(Level 5) [Ref: 12883 and the National Diploma in Real Estate (Licensee) (Level 5) [Ref:
01001.
Special Notes
Entry requirements
Real estate standards require proficient communication skills. People entering
programmes of education and training leading to the award of this qualification must
demonstrate the capacity to understand requirements and instructions, and communicate
to the required industry level. This might be evidenced by:
Level 2 credits from the subfields of Communication Skills or English;
IELTS test scores of 5.5; or
the demonstration of equivalent knowledge and skills.
REINZ Industry Training Organisation Ltd
SSB Code 101578
O New Zealand Qualifications Authority 2008
NQF Ref
Version
0101
Page 3 of 12
5
Licensing requirements
Core compulsory standards 23133-23138, and 23155 meet the education requirement for
being granted the Certificate of Approval Real Estate Salesperson issued by the Real
Estate Agents Licensing Board.
Recognition of Current Competence (RCC)IRecognition of Prior Learning (RPL)
The RCC and RPL processes recognise the knowledge and skills gained from work and
experience, or from courses or study undertaken. Candidates go through an assessment
process to gain credit for standards. The assessment process is carried out by accredited
organisations.
Candidates should contact REINZ I T 0 for more information regarding RCCIRPL and
contact information for an accredited organisation.
Credit Range
/ Core Compulsory
6
36
8
50
Level 3 credits
Levei 4 credits
Level 5 or above credits
Minimum totals
Business Sales Strand
/ Level 3 credits
Level 4 credits
Level 5 or above credits
Minimum totals
Total for qualification with strand
Level of qualification with strand
I Level 4 credits
I Level 5 or above credits
I Minimum totals
13
36
-
22
5
27
77
4
-
39
89
4
/
Comrnercialllndustrial
Sales Strand
Residential Sales
Strand
28
15
Rural Sales Strand
1 30
-
1 33
1 30
83
4
80
4
Total for qualification with strand
Level of qualification with strand
I
1
/ CommercialtlndustriaI I Residential Property
Property Management
Strand
Level 4 credits
Level 5 or above credits
Minimum totals
Total for qualification with strand
Level of qualification with strand
REINZ Industry Training Organisation Ltd
SSB Code 101578
-
32
32
82
5
Management Strand
32
-
32
82
4
O New Zealand Qualifications Authority 2008
NQF Ref
0101
Version
5
Requirements for Award of Qualification
This qualification will be awarded to people who have met the following requirements.
Core Compulsory standards
One of the following strands
Business Sales Strand
Commercialllndustrial Sales Strand
Residential Sates Strand
Rural Sales Strand
Commercialllndustrial Property Management Strand
Residential Property Management Strand
Award o f NQF Qualifications
Credit gained for a standard may be used only once to meet the requirements of this qualification.
Unit standards and achievement standards that are equivalent in outcome are mutually exclusive for the
purpose of award. The table of mutually exclusive standards is provided in section 7 of the New Zealand
Qualifications Authority (NZQA) Rules and Procedures publications available at
http:llwwvv.nzqa.~ovt.nzlncea/acrplindex.html.
Reviewed standards that continue to recognise the same overall outcome are registered as new versions
and retain their identification number (ID). Any version of a standard with the same id may be used to meet
qualification requirements that list the ID andlor that specify the past or current classification of the standard.
Detailed Requirements
Core Compulsory
The following standards are required
Service Sector > Real Estate > Real Estate Practice and Law
Id
Title
Level
23133
Demonstrate an understanding of the real estate
industry and practice in New Zealand
23136
Demonstrate knowledge of misleading and deceiving
conduct- and misrepresentation
- -Demonstrate knowledge ofthe sale and purchase
aareement and facilitate sale of real estate
Demonstrate knowledge of council zoning and building
law needed to
- - - act
- -as a real estate agent
Demonstrate knowledge and use of listingfork and of
-
23137
23138
23139
- - - -- - -
REINZ Industry Training Organisation Ltd
SSB Code 101578
-
Credit
4
-
+
-
-
- -
--
4
3
-
4
O New Zealand Qualifications Authority 2008
NQF Ref
0101
Id
Version
5
Page5of 12
Title
Level
Credit
Demonstrate understanding of legal matters affecting
real estate salespersons and property managers
5
4
Level
Credit
Demonstrate knowledge of building styles, methods,
and materials
Business Sales Strand
The following standards are required
Business > Accounting > Accounting - Generic
Analyse and interpret company financial statements
Service Sector > Real Estate > Real Estate Practice and Law
Title
Establish a presence in the real estate market
Service Sector > Real Estate > Rural, Residential, Commercial and Business Sales
"Ttle
Level
Credit
23142
Appraise smaller businesses
4
5
Appraise medium size businesses
- ---
23144
-
A
- --
-
a
-
--
-
-
- -- - - - - -
-
-
-
-
Appraise larger size businesses
Facilitate the sale and purchase of businesses
4
Prepare Agreement for Sale and Purchase of a
in real estate
Develop descriptions for use in marketing businesses
for sale
REINZ Industry Training Organisation Ltd
SSB Code 101578
4
O New Zealand Qualifications Authority 2008
NQF Ref'
0101
Version
Page 6 of 12
5
Commercialllndustrial Sales Strand
The following standards are required
Service Sector > Real Estate > Real Estate Practice and Law
Title
15500
Level
Credit
Establish a presence in the real estate market
Service Sector > Real Estate > Rural, Residential, Commercial and Business Sales
Id
"Ftle
Level
Credit
4674
Prepare appraisals of commercial and industrial sites
and qualifv vendors
List commercial and industrial properties and market
23 148
Qualify purchasers and demonstrate knowledge of
investment factors for commercial and industriaI
properties
Prepare Agreement for Sale and Purchase of Real
Estate for commercial and industrial ~ r o ~ e r t i e s
Develop an investment-summaryfor, and explain the
23149
23444
Residential Sales Strand
The following standards are required
Service Sector > Real Estate > Real Estate Practice and Law
Id
Title
15500
Level
Credit
Establish a presence in the real estate market
Service Sector > Real Estate > Rural, Residential, Commercial and Business Sales
Id
Title
Level
Credit
4713
investment analyses of residential properties
Prepare appraisals of multi-unit residential properties
15501
Prepare appraisals of lifestyle properties
23151
-
23443
; 4
situations relating to residential property
Demonstrate an understanding of the sub-division
process and appraise vacant residential
- - land- -- -- Develop property descriptions of residential properties
-
RElNZ Industry Training Organisation Ltd
SSB Code 101578
-
-
- -
-
-
- -
5
r -- -
4
--
O New Zealand Qualifications Authority 2008
NQF Ref
0101
Version
Page 7 of 12
5
Rural Sales Strand
The following standards are required
Service Sector > Real Estate > Real Estate Practice and Law
id
Title
15500
Level
Credit
Establish a presence in the real'estate market
List rural properties and promote listings
4
23152
Prepare sale and purchase agreements for complex
4
23154
properties
Prepare appraisals of pastoral and arable properties
4
CommercialllndustriaI Property Management Strand
The following standards are required
Service Sector > Real Estate > Residential and Commercial Property Management
4686
Obtain contracts and authorities to manage commercial
and industrial ~ r o ~ e r t i e s
Prepare management plans for commercial and
industrial properties
Attract and qualify tenants for commercial and industrial
properties and prepare lease agreements
Manage tenants and leases for commercial properties
4687
Manage commercial properties
4683
5
5
Level
Credit
Report on the performance of commercial properties
Residential Property Management Strand
The following standards are required
Service Sector > Real Estate > Real Estate Practice and Law
Id
Title
-
2231 1
--
-
--
--
- -
-
--
emo on st rate an understanding of the Unit Titles Act
-
-
1972
REINZ Industry Training Organisation Ltd
SSB Code 101578
O New Zealand Qualifications Authority 2008
NQF Ref
0101
Version
Page 8 of 12
5
Service
---Sector
> Real Estate > Residential and Commercial Property
- -- Management
- -- - - Id
~i3e
Level
Credit
4
4681
Demonstrate knowledge of rent reviews and
recommend rental ranges for residential property
List and market residential rental properties and market
residential property management services
Manage tenanted residential property on an ongoing
basis
Complete tenancy agreements for residential property
4
3
4682
Manage the tenants of rented residential property
4
4
-
4
4
Service Sector > Real Estate > Rural. Residential. Commercial and Business Sales
Id
Title
Level
Credit
Demonstrate knowledge of appraisal and complete
investment analvses of residential ~ r o ~ e r t i e s
Transition Arrangements
Version 5;
Version 5 was issued following review in order to incorporate replacements for expiring
standards where necessary, add new standards to cover knowledge gaps identified by
industry, and move a standard from the compulsory section into the relevant strands.
Changes to structure and content
The qualification level was increased.
The minimum credit requirements were increased.
Standard levels and credits were adjusted to match reviewed standards.
Expiring standards were replaced.
Core Compulsory section:
Standards 23138, 23139, and 23155 were added to the qualification.
Standard 4653 was replaced by 23133.
Standards 4654 and 4665 were replaced by standards 23135,23136, and
23141.
Standards 4655 and 4706 were replaced by standard 23134.
Standards 4656 and 4657 were replaced by standard 23140.
Standards 4658 and 4659 were replaced by standard 23137.
Standard 4660 was replaced by standard 23156.
Standard 4666 was replaced by standard 23157.
Standard 15500 was moved into reievant strands.
Business Sales strand:
Standards 23146,23147, and 23442 were added to the strand.
Standards 7378 and 15500 were added.
Standards 4689 and 4712 were replaced by standards 23142,23143, and
23144.
Standard 4692 was replaced by standard 23145.
-
REINZ Industry Training Organisation Ltd
SSB Code 101578
O New Zealand Qualifications Authority 2008
NQF Ref
0101
Version
5
Page 9 of 12
Standard 1853 was removed.
Standards 4690 and 4691 were removed, because they no longer meet the
needs of the industry.
Commercial11ndustrial Sales strand:
Standard 23444 was added to the strand.
Standard 15500 was added.
Standard 4676 was replaced by standard 23148.
Standard 4677 was replaced by standard 23149.
Standard 471 1 was removed, because it no longer meets the needs of the
industry.
Residential Sales strand:
Standards 2231 1 and 23443 were added to the strand.
Standards 15500 and 15501 were added.
Standard 4668 was replaced by standard 23150.
Standard 4710 was replaced by standard 23151.
Standard 4662 was removed.
Standards 4664 and 4667 were removed, because they no longer meet the
needs of the industry.
Rural Sales strand:
Standard 23441 was added to the strand.
Standards 15500 and 15501 were added.
Standard 4673 was replaced by standard 23152.
Standard 4709 was replaced by standards 23153 and 23154.
- Standards 4670 and 4672 were removed, because they no longer meet the
needs of the industry.
Residential Property Management strand:
- Standards 22310 and 2231 1 were added to the strand.
-
-
Due to legislative changes the transition period has been shortened to ensure that the new
legislation is included in training. The last date for entry to programmes or courses for the
replaced Version 4 is 31 August 2007. The last date for assessments to take place for
Version 4 is 31 August 2008. The Manager of the I T 0 can be contacted at RElNZ ITO,
PO Box 5663, Auckland for information on Transition Arrangement and Exemption
appeals.
People working towards Version 4 are given until 31 August 2008 to complete the version
they had begun. After this date credit gained towards meeting the requirements of Version
4 must be transferred to meeting the requirements of Version 5 of the qualification.
Transition arrangements will be published on the RElNZ website (
and in the RE Journal and via e-newsletters.
For detailed information see Review Summaries on the NZQA website.
This qualification contains standards that replace earlier standards. For the purposes of
this qualification people who have gained credit for the expiring standards are exempt from
the requirement to gain credit for the replacement standards.
REINZ Industry Training Organisation Ltd
SSB Code 101578
O New Zealand Qualifications Authority 2008
NQF Ref
0101
Version
5
Page 10 of 12
Previous versions of the qualification
Version 4 was issued in order to take account of reviews of Real Estate, Computing, and
Business domain standards. Classifications and titles were updated and the credits for
standard 2780 increased from 6 to 9. The credit table was also amended to clarify levels
according to each strand. No changes to the structure or content of the qualification were
made.
Version 3 was issued in order to take account of reviews of Real Estate and
Communication Skills domain standards. Standards were added to the Core Compulsory
section and to the Core Elective section.
Version 2 was issued following review. Standards were moved from the Core Compulsory
to the Residential Sales Strand and Core Elective section.
Version 1 of this qualification contained extensive arrangements for those people with
incomplete Branch Manager and Licensee qualifications. These arrangements expired in
December 1997. People with incomplete qualifications of this nature should contact the
RElNZ IT0 for consideration on a case-by-case basis.
REINZ Industry Training Organisation Ltd
SSB Code 101578
O New Zealand Qualifications Authority 2008
NQF Ref
Version
0101
Page 11 of 12
5
NQF Registration Information
Process
Registration
Review
Review
Revision
Review
Version
I
2
3
4
5
Last Date for Assessment
December 2001
December 2001
December 2007
August 2008
NIA
Date
October 1995
November 1997
A ~ r i1999
l
February 2003
Mav 2007
Standard Setting Body
RElNZ lndustry Training Organisation Ltd
PO Box 5663
AUCKLAND
Telephone
Email
09 356 1755
Isouthwick@reinz.co.nz
Planned Review
Any person or organisation may contribute to the review of this qualification by sending
feedback to the standard setting body at the above address.
/ Next Review
/ 201 1
1
Other standard setting bodies whose standards are included in the
qualification
NZQA
Certification
The certificate will display the logos of NZQA and RElNZ I T 0 Ltd.
Classification
This qualification is classified according to the NQF classification system and the
New Zealand Standard Classification of Education (NZSCED) system as specified below.
NQF Classificatbn
Code
I Description
Service Sector > Real Estate
REIN2 Industry Training Organisation Ltd
SSB Code 10157'8
NZSCED
Code
Description
080503 Management and Commerce >
Sales and Marketing > Real
Estate
I
O New Zealand Qualifications Authority 2008
NQF Ref
0101
Version
5
Page 12 of 12
Quality Management Systems
Providers and industry Training Organisations must be accredited by a recognised Quality Assurance Body
before they can register credits from assessment against standards. Accredited providers and Industry
Training Organisations assessing against standards must engage with the moderation system that applies to
those standards. Accreditation requirements and the moderation system are outlined in the associated
Accreditation and Moderation Action Plan (AMAP) for each standard.
REINZ lndustry Training Organisation Ltd
SSB Code 101578
O New Zealand Qualifications Authority 2008
NQF Ref
1288
Version
I
Page 1 of 6
National Certificate in Real Estate Branch Manager
bevel
Credits
Purpose
This National Certificate is awarded to people who have demonstrated competence in the
knowledge and skills required of branch managers in the real estate agency industry.
Holders of the qualification are able to: manage staff and staff performance; prepare
appraisals of rural properties, residential properties, commercial/industriaI properties, and
businesses; manage real estate contracts; provide advice on resource management
issues; implement the marketing function; explain leasing, legal, and financial matters;
manage business record systems; manage trust accounts; manage the preparation and
discharge of real estate contracts; and implement internal controls and conduct internal
checks and audits.
This qualification follows on from the National Certificate in Real Estate with strands in
Business Sales, Commercialllndustrial Sales, Residential Sales, Rural Sales,
Commercialllndustrial Property Management, and Residential Property Management [Ref:
01011. It provides an exit point for those salespeople applying for a Certificate of Approval
Real Estate Branch Manager from the Real Estate Agents Licensing Board. The National
Diploma in Real Estate (Licensee) (Level 5) [Ref: 01001 builds on this qualification, and all
standards in this qualification can be used for credit towards the National Diploma.
Special Notes
Prerequisites
National Certificate in Real Estate with strands in Business Sales, Commercialllndustrial
Sales, Residential Sales, Rural Sales, Commercial/lndustriaI Property Management, and
Residential Property Management [Ref: OIOI], or Real Estate Institute of New Zealand
(REINZ) Associate qualification gained prior to 1997, or demonstrate equivalent
knowledge and skills.
Entry requirements
Real estate standards require proficient communication skills. People entering
programmes of education and training leading to the award of this qualification must
demonstrate the capacity to understand requirements and instructions, and communicate
to the required industry level. This might be evidenced by:
Level 2 credits from the subfields of Communication Skills or English;
a
IELTS test scores of 6.0; or
the demonstration of equivalent knowledge and skills.
REINZ Industry Training Organisation Ltd
SSB Code 101578
O
New Zealand Qualifications Authority 2008
NQF Ref
Page 4 of 6
1
Version
1288
Service .Sector > Real Estate
Residential,
Commercial and Business
.-....".--.-.-......>
.......Rural,
....
--.--....-..-."-.- .
. ..Sales
".F-"-.."
..
Id
i fifle
1I Level 1I Credit
j.. ...........
.........
.. .................................................... .......... ...................................................... .
1 -.................................................. j
[ 6
4
I 4674
!
Prepare appraisals of commercial and industrial sites
j
and qualify vendors
................................................
..................................
.........................................................................................
.................................................. .-....----------w--...-..-------,.---..-
r__--_--_-l__.
/1
1
__j
L..
"
!
"
"
"
:
L
:
"
Business Appraisal Elective
A minimum of Istandard
> Rural, Residential,
-................... .....-. Commercial and Business
Sales
> Real Estate
-..............
Service
........ .... ...............Sector
-......... ..
Id
I Title
1 Level 1 Credit
.___
1
"
"
"
w
"
I
/
23142
j
:
1
1 Appraise smaller businesses
.......................................................................................................................
,..............._._._._
..................................
i__...........................................................................
...i__.i__..i__i__.i__..i__i__i__...i__..i__i__..i__..i__...i__i__...i__...i__i__i__.i__.i__
...................... ........."
1 23144
Appraise larger size businesses
Residential Appraisal Elective
A minimum of Istandard
-
3
Sector > Real Estate > Rural,
s~erviEk
*..,.....
-.............-..........................
Residential,
..................................... .......................................................................................................
Commercial and Business
...r........................-.............................
Sales
.................................
.......... ~d
f Title
/ Level i Credit 1
X
;
.-
1 4669
"
y
i ...
1
.
-......................
"
a
. -
"
!.
.....
:
v
.+..
-........
............
;
14
Demonstrate knowledge of appraisal and complete
15
i
investment
analyses
of
residential
properties
/........................................................................................................................................................_ ...................................................................................................................................................................................................1...................................................................................... ...............................
' 4
i 4713 1 Prepare apprais.als of multi-unit residential properties
4
I
1
/
Demonstrate an understanding of the sub-division
23151
Rural Appraisal Elective
A minimum of Istandard
15501
j.__..."_.._..._.
,
j 4
Prepare appraisals of lifestyle properties
..__.__^".l...._._-.._4,-_._._1._._______I--~
.___
-
.--
"
-_
.....i-..-
"
!
I 23153 I Prepare appraisals of horticultural and specialised unit / 4
231 54
properties
Prepare appraisals of pastoral and arable properties
REINZ Industry Training Organisation Ltd
SSB Code 101578
14
...
.....
I
14
,
O New Zealand Qualifications Authority 2008
NQF Ref
Version
1288
Page 5 of 6
I
Transition Arrangements
Version 'I
This qualification has been designed to provide a pathway to the National Diploma in Real
Estate (Licensee) (Level 5) [Ref: 01001 and an exit point for people wanting the Certificate
of Approval as Branch Manager only. People who are partway through the National
Diploma in Real Estate may wish to transfer to this qualification. The following exemptions
can be used for transition until 31 August 2008.
People who have gained credit for the expiring standards are exempt from the requirement
to gain credit for replacement standards.
.................................................._ ,.,.,.....,.
_............................................ .............................................................................................................................. ".............................................."
>
;! Exempt f r o m
j Credit f o r
i
I
j
Transition arrangements will be published on the RElNZ website (
and in the RE Journal and via e-newsletters. The Manager of the I T 0 can be contacted
for information on Transition Arrangement and Exemption appeals.
NQF Registration Information
Process
Registration
Version
I
Date
May 2007
Last Date for Assessment
NIA
Standard Setting Body
RE1NZ Industry Training Organisation Ltd
PO Box 5663
AUCKLAND
Telephone
Email
09 356 1755
lsouthwick@reinz.co.nz
Planned Review
Any person or organisation may contribute to the review of this qualification by sending
feedback to the standard setting body at the above address.
RElNZ Industry Training Organisation Ltd
SSB Code 101578
O New Zealand Qualifications Authority 2008
NQF Ref
1288
Version
1
Page 6 of 6
Other standard setting bodies whose standards are included in the
qualification
NZQA
Certification
The certificate will display the logos of NZQA and RElNZ I T 0 Ltd.
This qualification is classified according to the NQF classification system and the
New Zealand Standard Classification of Education (NZSCED) system as specified below.
NQF Classification
Description
Code
Service Sector > Real Estate
295
NZSGED
Code
080503
Description
Management and Commerce >
Sales and Marketing > Real
Estate
Quality Management Systems
Providers and lndustry Training Organisations must be accredited by a rpcognised Quality Assurance Body
before they can register,credits from assessment against standards. Accredited ploviders and lndustry
Training Organisations assessing against standards must engage with the moderation system that applies to
those standards. Accreditation requirements and the moderation system are outlined in the associated
Accreditation and Moderation Action Plan (AMAP) for each standard,
RElNZ lndustry Training Organisation Ltd
SSB Code 101578
O New Zealand Qualifications Authority 2008
NQF Ref
0100
Version
4
Page 1 of 9
National Diploma in Real Estate
Level
5
Credits
170
Purpose
This National Diploma is awarded to people who have demonstrated competence in the
knowledge and skills required of managers and business owners in the real estate agency
industry.
Holders of the qualification are able to manage staff and staff performance; prepare
appraisals of rural properties, residential properties, commerciallindustriaI properties, and
businesses; manage real estate contracts; provide information on resource management
issues; explain leasing, legal, and financial matters; and manage business record systems,
implement internal controls, and conduct internal checks and audits.
Holders of the qualification are also able to develop business plans; manage trust
accounts; demonstrate knowledge of directing real estate entities under the Companies
Act 1993; and identify, evaluate, and manage risk in a real estate context.
The qualification is structured with elective sections offering flexibility and a broad skill
base necessary for running a real estate business.
This qualification follows the National Certificate in Real Estate with strands in Business
Sales, Commercialllndustrial Sales, Residential Sales, Rural Sales, Commercialllndustrial
Property Management, and Residential Property Management [Ref: 01011. It builds on the
National Certificate in Real Estate (Branch Manager) (Level 5) [Ref: 12881, which is an exit
point for salespeople applying for a Certificate of Approval Real Estate Branch Manager.
All standards in the Branch manager qualification can be used for credit towards this
qualification. This National Diploma completes the educational requirements for Associate
membership of the Real Estate lnstitute of NZ (Inc) and the educational requirements for a
Real Estate Agent's Licence issued by the Real Estate Agents Licensing Board.
Special Notes
Prerequisites
National Certificate in Real Estate with strands in Business Sales, CommercialllndustriaI
Sales, Residential Sales, Rural Sales, Commercialllndustrial Property Management, and
Residential Property Management [Ref: 0101], or Real Estate Institute of New Zealand
(REINZ) Associate qualification gained prior to 1997, or demonstrate equivalent
knowledge and skills.
REINZ Industry Training Organisation Ltd
SSB Code 101578
O New Zealand Qualifications Authority 2008
NQF Ref
0100
Version
Page 2 of 9
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Entry requirements
Real estate standards require proficient communication skills. People entering
programmes of education and training leading to the award of this qualification must
demonstrate the capacity to understand requirements and instructions, and communicate
to the required industry level. This might be evidenced by:
Level 2 credits from the subfields of Communication Skills or English;
IELTS test scores of 6.0; or
the demonstration of equivalent knowledge and skills.
Licensing requirements
This qualification meets the education requirement for being granted a Real Estate Agent's
Licence issued by the Real Estate Agents Licensing Board.
Recognition of Current Competence (RCC)IRecognition of Prior Learning (RPL)
The RCC and RPL processes recognise the knowledge and skills gained from work and
experience, or from courses or study undertaken. Candidates go through an assessment
process to gain credit for standards. The assessment process is carried out by accredited
organisations.
Candidates should contact RElNZ IT0 for more information regarding RCCIRPL and
contact information for an accredited organisation.
Credit Range
Compulsory
Business
Appraisal
Elective
Rural Appraisal
Elective
Licensee Elective
Residential
Appraisal
Elective
Level 3 credits
Level 4 credits
Level 5 or above credits
Minimum totals
Level 3 credits
Level 4 credits
Level 5 or above credits
Minimum totals
0-4
0-5
4
REINZ Industry Training Organisation Ltd
SSB Code 101578
0-30
0-46
46
O New Zealand Qualifications Authority 2008
NQF Ref
0100
Version
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Requirements for Award of Qualification
This qualification will be awarded to people who have met the following requirements.
r,
r,
A minimum of 170 credits
Compulsory standards
Business Appraisal Elective - A minimum of 1 standard as specified
Residential Appraisal Elective - A minimum of 1 standard as specified
Rural Appraisal Elective - A minimum of 1 standard as specified
Licensee Elective - Balance if required
Detailed Requirements
Compulsory
The following standards are required
Business > Business Administration > Business Administration Services
Id
Title
Level
I
I
I
Prepare computerised payroll and related
administration records
335
4
Business > Business Administration > Business Information Management
Level
Id
Title
I
/
125
Demonstrate and apply knowledge of an organisation's
record management system
Business > Financial Management > Financial Skills
Title
Id
1853
Analyse and interpret financial statements
1863
Compare and evaluate the forms of finance offered by
the banking and finance industries
~ v a l u a t c a n duse various types of bank accounts and
hankina services
l 6
1864
RElNZ Industry Training Organisation Ltd
SSB Code 101578
I
Credit
I
6
I Credit
3
5
Level
Credit
4
O New Zealand Qualifications Authority 2008
NQF Ref
0100
Version
Service Sector > Real Estate > Real Estate Management
Id
"Title
Level
Credit
4693
Develop new business plans for real estate firms
6
8
4694
Outline plans for real estate projects
4
3
4695
I Implement the marketing function in real estate firms I
Manage the staffing function in real estate firms
4696
real estate firms
Demonstrate knowledge of team building methods
appropriate for real estate firms
Demonstrate knowledge of financial transactions and
financial statements for real estate firms
Manage trust accounts in real estate firms
4699
4700
4702
I
Implement internal controls and conduct internal checks 5
and audits in real estate firms
Manage the preparation of real estate contracts
15
4714
3
Manage real estate contracts of agency
5
3
Demonstrate knowledge of directing real estate entities
under the Companies Act 1993
Identify, evaluate, and manage risk in a real estate
context
5
Explain leasing, legal, and financial matters to vendors
and prospective purchasers
Prepare condition and redevelopment potential reports
for potential vendors and purchasers
Provide vendors and prospective purchasers with
issues
of lawful structure for real
estate business entities
Demonstrate knowledge of requirements for
maintaining effective control of a real
- estate business
6
evel
1
-,
Credit
4
5
_
5
L
I
14
5
-p-------------
I
3
Facilitate the discharge of real estate contracts
Service Sector > Real Estate > Real Estate Practice and Law
Id
Title
4708
I
I Facilitate performance of employees and contractors in 1 5
4698
4707
5
5
I
I
4697
.
Page 4 of 9
4
_
14
I
I
.
Business__ -_____
Sales
Service Sector > Real Estate > Rural, Residential,. Commercial and
_
Title
Credit
Level
Prepare appraisals of commercial and industrial sites
and qualify vendors
REINZ Industry Training Organisation Ltd
SSB Code 101578
/
1
.-
----.--.
..---
I
.--- -.
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.
O New Zealand Qualifications Authority 2008
*
NQF Ref
Version
0100
4
Page 5 of 9
Business Appraisal Elective
A minimum of 1 standard
Service Sector > Real Estate > Rural, Residential, Commercial and Business Sales
Id
Title
Level
Credit
1 23142 1 Appraise smaller businesses
/
I
I
I
I
14
15
I
23143
Appraise medium size businesses
4
5
23144
Appraise larger size businesses
4
6
Residential Appraisal Elective
A minimum of Istandard
Service Sector > Real Estate > Rural, Residential, Commercial and Business Sales
Level
Id
Title
Credit
I
1 4669
4713
23151
1 Demonstrate knowledge of appraisal and complete
14
15
investment analyses of residential properties
Prepare appraisals of multi-unit residential properties
4
4
Demonstrate an understanding of the sub-division
5
5
I process and appraise vacant residential land
I
Rural Appraisal Elective
A minimum of 1 standard
Service Sector > Real Estate > Rural, Residential, Commercial and Business Sales
Id
Title
/T--l
1 15501 / Prepare appraisals of lifestyle properties
--
Prepare appraisals of horticultural and specialised unit
1 23154 / Prepare appraisals of pastoral and arable properties
r-r---
-
Licensee Elective
The balance of credits to achieve a minimum of 170 credits may come from the following
Business > Management > Small Business Management
I Manage the development of small business ventures I
Investigate and evaluate small business franchising
REINZ Industry Training Organisation Ltd
SSB Code 101578
O New Zealand Qualifications Authority 2008
NQFRef
Version
0100
Page 6 of 9
4
Service Sector > Real Estate > Residential and Commercial Property Management
Credit
Level
Id
Title
l
I Obtain contracts and authorities to manage commercial 1 5
I and industrial orooerties
I Prepare management plans for commercial and
I industrial ~rooerties
I
15
1
5
7
5
5
Manage commercial properties
5
5
Report on the performance of commercial properties
6
5
Apply entrepreneurship and innovation in a property
investment context
Apply entrepreneurship and innovation to managing a
rental roll
Manage tenanted apartments for a body corporate on
an ongoing basis
Prepare and conduct a body corporate meeting
6
5
6
6
4
4
5
3
Attract and qualify tenants for commercial and industrial
properties and prepare lease agreements
Manage tenants and leases for commercial properties
I
22303
22305
22308
22309
Service Sector > Real Estate > Rural, Residential, Commercial and Business Sales
Level
Credit
Id
Title
1 4713
/
15501
Demonstrate knowledge of appraisal and complete
analyses of residential properties
Prepare appraisals of multi-unit residential properties
Prepare appraisals of lifestyle properties
14
14
4
4
1 23142 1 Appraise smaller businesses
1 23143 1 Appraise medium size businesses
I
--
larger size businesses
6
--
1 23153 1
an understanding of the sub-division
Process and appraise vacant residential land
Prepare appraisals of horticultural and specialised unit
/4
I
Prepare appraisals of pastoral and arable properties
REINZ Industry Training Organisation Ltd
SSB Code 101578
O New zealand Qualifications Authority 2008
Version
Page 7 of 9
4
Transition Arrangements
Version 4
Version 4 was issued following review in order to incorporate replacement standards for
expiring standards where necessary, add new standards to cover knowledge gaps
identified by industry, rename the elective set to Licensee Elective, and include three new
electives-covering appraisals.
Changes to structure and content
The title was modified to include (Licensee) to clearly show the relationship between
the qualification and Real Estate Agents Licensing Board requirements.
Standard levels and credits were adjusted to match reviewed standards.
Electives in Business Appraisals, Residential Appraisals, and Rural Appraisals were
added.
Standards 4669,15501,22303,22305,22306,22308,22309, and 22314 were
added to the qualification.
Standards 4689 and 4712 were replaced by standards 23142,23143, and 23144.
Standard 4701 was replaced by standard 23132.
Standard 4709 was replaced by standards 23153 and 23154.
Standard 4710 was replaced by standard 23151.
Standards 4667, 4670,4706, and 471 1 were removed, because they no longer meet
the needs of the industry.
Due to legislative changes the transition period has been shortened to ensure that the new
legislation is included in training. The last date for entry to programmes or courses for the
replaced Version 3 is 31 August 2007. The last date for assessments to take place for
Version 3 is 31 August 2008. The Manager of the I T 0 can be contacted at REINZ ITO,
PO Box 5663, Auckland for information on Transition Arrangement and Exemption
appeals.
People working towards Version 2 or 3 are given until 31 August 2008 to complete the
version they had begun. After this date credit gained towards meeting the requirements of
Version 2 or 3 must be transferred to meeting the requirements of Version 4 of the
qualification.
Transition arrangements will be published on the RElNZ website (
and in the RE Journal and via e-newsletters.
For detailed information see Review Summaries on the NZQA website,
This qualification contains standards that replace earlier standards. For the purposes of
this qualification people who have gained credit for the expiring standards are exempt from
the requirement to gain credit for the replacement standards.
RElNZ Industry Training Organisation Ltd
SSB Code 101578
O New Zealand Qualifications Authority 2008
NQFRef
0100
Version
Page 8 of 9
4
Credit for
Exempt from
4689,4712
23142,231 43,23144
4701
23132
4709
23153,23154
4710
23151
Previous versions of the qualification
Version 3 was issued in order to take account of reviews of Computing and Business
standards. Classifications and titles were updated and the level of standard 335 increased
from 3 to 4. The qualification's period of registration was also extended to maintain the
currency of the qualification while the Real Estate Institute of New Zealand undertook a
review. No changes to structure or content were made.
Version 2 was issued following review. Compulsory standards were moved to the elective;
the range of standards in the elective section was increased; and the number of elective
credits required increased from 15 to 35.
Version 1 of this qualification contained extensive arrangements for those people with
incomplete Branch Manager and Licensee qualifications. These arrangements expired in
December 1997. People with incomplete qualifications of this nature should contact the
RElNZ IT0 for consideration on a case-by-case basis.
NQF Registration Information
Process
Registration
Review
Revision
Review
Version
1
2
3
4
Date
March 1996
April 1999
February 2003
May 2007
Last Date for Assessment
December 2001
August 2008
August 2008
NIA
Standard Setting Body
RElNZ Industry Training Organisation Ltd
PO Box 5663
AUCKLAND
Telephone
Email
09 356 1755
Isouthwick@reinzr.co.nz
REINZ Industry Training Organisation Ltd
SSB Code 101578
O New Zealand Qualifications Authority 2008
NQF Ref
Version
0100
Page 9 of 9
4
Planned Review
Any person or organisation may contribute to the review of this qualification by sending
feedback to the standard setting body at the above address.
Next Review
201 1
Other standard setting bodies whose standards are included in the
qualification
NZQA
Certification
The certificate will display the logos of NZQA and RElNZ IT0 Ltd.
Classification
This qualification is classified according to the NQF classification system and the
New Zealand Standard Classification of Education (NZSCED) system as specified below.
NQF Classification
Description
Code
Service
Sector > Real Estate
295
NZSCED
Description
Code
080503 Management and Commerce >
Sales and Marketing > Real
Estate
Quality Management Systems
Providers and lndustry Training Organisations must be accredited by a recognised Quality Assurance Body
before they can register credits from assessment against standards. Accredited providers and lndustry
Training Organisations assessing against standards must engage with the moderation system that applies to
those standards. Accreditation requirements and the moderation system are outlined in the associated
Accreditation and Moderation Action Plan (AMAP) for each standard.
REINZ Industry Training Organisation Ltd
SSB Code 101578
O New Zealand Qualifications Authority 2008