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2021V REA Refresher (for reviving licenses)


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2021V REA Refresher (for reviving licenses)

Price: $ 139.95+GST

2021 REA Verified Continuing Professional Development 10 hour Refresher Course (March 2021 Release)

Table of Contents

Section I - Introduction to REA Continuing Education

  • Acknowledgement
  • Terms used in this guide
  • Legislation
  • The Real Estate Authority (REA)
  • The licensing requirements
  • Applying for a licence
  • License Exemptions
  • Register of Licensees/Public Register
  • Voluntary suspension of a licence
  • Revive your licence
  • Change of circumstances
  • Continuing education
  • Displaying information

Section II - Overview of the Code of Conduct

  • Introduction
  • The Fair Trading Act 1986
  • Contract and Commercial Law Act 2017 (Part 2, subpart 3)
  • Health and Safety at Work Act 2015
  • Unit Titles Act 2010
  • Real Estate Agents Act (Professional Conduct and Client Care) Rules 2012

Section III - Disclosure and misrepresentation

  • Introduction
  • Scenario 1
  • Disclosure
  • Misrepresentation
  • The Fair Trading Act 1986
  • Advertising
  • False representations
  • Scenario 2
  • Penalties and remediesDisclaimers
  • Uninvited direct sale agreement
  • Unfair Contract terms
  • Disclosure requirements under the Unit Titles Act 2010
  • Scenario 3: Disclosure and misrepresentation regarding building weathertightness
  • Scenario 4
  • Sceanrio 5

Section IV - Agency agreements

  • Learning objectives
  • Terms used in this guide
  • The definition of real estate agency work and when it begins and ends
  • The six principles of contract and how they apply to agency agreements
  • Agency agreements
  • Authorised persons
  • Proof of Identity: identification and verification
  • Appraisals
  • Methods of sale, or offering of property, space or business and licensee benefits
  • Commission and marketing or advertising
  • Material particulars included in the agency agreement
  • Agency agreement must disclose rebates, discounts, and commissions
  • Approved guide – residential property
  • Ethical responsibilities of the licensee
  • Advising about double commissions
  • Standard clauses for residential and rural agency agreements
  • The Fair Trading Act 1986 covering unfair contract terms
  • Cancellation of agency agreements
  • Unsolicited approach (uninvited direct sale)
  • Roll-over clause provisions
  • Ensuring the vendor or lessor is aware of licensee disclosure obligations

Section V - Anti-Money laundering: Your compliance requirements

  • Learning objectives
  • Introduction to money laundering
  • How is money laundered?
  • Risk of money laundering activities using real estate
  • NZ legislation & real estate
  • The role of the Department of Internal Affairs (DIA)
  • Reporting entity: compliance requirements
  • AML/CFT Requirements
  • Undertaking due diligence: your obligations
  • Levels of customer due diligence (CDD)
  • Examples of CDD
  • Reporting obligations under AML/CFT
  • Recognising red flags

Section VI - Physical property inspection

  • Learning Outcomes
  • Physical property inspection
  • Inspection of land
    • Boundaries
    • Building line restriction
    • Driveways and access
    • Protected trees
    • Coastal zoning
    • Subsidence
    • Drainage
    • Flooding
    • Minimum floor levels
  • Inspection of buildings and other structures
    • Number of bedrooms
    • Construction type
    • Stigmatised materials
    • Warning signals to watch out for when inspecting a building
    • Guidance from the Disciplinary Tribunal regarding weathertightness issues
    • Insulation and clean heating grants
  • Decks, balconies and verandas
  • Other improvements
    • Retaining walls
    • Fences
    • Swimming pools and spa pools
    • Accessory buildings
  • Claims made in relation to damage of the property
    • Weathertightness pay-outs
    • EQC claims

Section VII - Ethics

  • Learning objectives
  • Introduction
  • Concepts related to ethics
  • Ethics in day to day agency work
  • Consumer focus in the sales process
  • Disclosure obligations
  • Obligations to report conduct of another licensee
  • Identifying misconduct and unsatisfactory conduct
  • Reporting conduct to REA
  • Reporting conduct for an 'improper' purpose