The Real Estate Authority Act of 2008 requires that every real estate agent and real estate manager take 20 hours of training each year to maintain an active license;
10 hours of which are courses provided by the Real Estate Authority (REA) consisting of two 2-hour mandatory courses and six hours of elective courses
The courses must be completed within the calendar year to maintain an active New Zealand real estate license (except in extenuating circumstances approved by the REA).
To order a course, click LOGIN above and go to BUY. To see information about each course, click below on MORE INFO.
Want to know what courses you need to take? Check out our handy comparison chart
Available REA Verified Courses
2021 CPD - Issues and Complaints
REA Verified Continuing Professional Development Mandatory 2 hour course on Issues and Complaints
Real Estate CPD – Issues and Complaints, covers the following information:
Contents
Learning outcomes
Terms used in this guide
Introduction
Part One: Avoiding issues and complaints and preventing common issues
A: Practices that will help prevent issues arising
B: Common complaint issues and how to prevent them
Part Two: Resolving issues and complaints
A: Agency complaints/dispute procedures
B: Resolving an issue
C: Managing a complaint
2021 CPD - Sales and Purchase Agreements
REA Verified Continuing Professional Development Mandatory 2 hour course on Sales and Purchase Agreements
Real Estate CPD – Sale and Purchase Agreements: common issues and best practice, covers the following information:
Contents
Learning outcomes
Terms used in this guide
Introduction
Overview of sale and purchase agreement issues
Issues with the Sale and Purchase agreement
Part One: Significance of the agency agreement and sale and purchase agreement
Significance of the agency agreement
Sale and purchase agreements
Licensee responsibilities regarding completion of the sale and purchase agreement
Part Two: Types of clauses
Clauses and their significance
Part Three: Information parties require before completing the agreement
Guides and statements to be provided to parties
Other information for parties before completion of the sale and purchase agreement
Advising parties to seek legal, technical, or other advice
Part Four: Overview of the negotiation process
Initialling and signing in the negotiation process
When the sale and purchase agreement becomes a legally binding contract
Part Five: Aspects of the sale and purchase agreement that commonly cause harm
Where, when, and to whom the deposit is to be paid
General Terms of Sale
Further terms of Sale
Chattels (Schedule 2)
Example 1: Sale and purchase of a business
Example 2: Sale and purchase of a commercial property
2021 Verified
2021 REA CPD 10 hour verified course work
Issues and Complaints
Real Estate CPD – Issues and Complaints, covers the following information:
Contents
Learning outcomes
Terms used in this guide
Introduction
Part One: Avoiding issues and complaints and preventing common issues
A: Practices that will help prevent issues arising
B: Common complaint issues and how to prevent them
Part Two: Resolving issues and complaints
A: Agency complaints/dispute procedures
B: Resolving an issue
C: Managing a complaint
Sales and Purchase Agreements
Real Estate CPD – Sale and Purchase Agreements: common issues and best practice, covers the following information:
Contents
Learning outcomes
Terms used in this guide
Introduction
Overview of sale and purchase agreement issues
Issues with the Sale and Purchase agreement
Part One: Significance of the agency agreement and sale and purchase agreement
Significance of the agency agreement
Sale and purchase agreements
Licensee responsibilities regarding completion of the sale and purchase agreement
Part Two: Types of clauses
Clauses and their significance
Part Three: Information parties require before completing the agreement
Guides and statements to be provided to parties
Other information for parties before completion of the sale and purchase agreement
Advising parties to seek legal, technical, or other advice
Part Four: Overview of the negotiation process
Initialling and signing in the negotiation process
When the sale and purchase agreement becomes a legally binding contract
Part Five: Aspects of the sale and purchase agreement that commonly cause harm
Where, when, and to whom the deposit is to be paid
General Terms of Sale
Further terms of Sale
Chattels (Schedule 2)
Example 1: Sale and purchase of a business
Example 2: Sale and purchase of a commercial property
2021V REA Refresher (for reviving licenses)
2021 REA Verified Continuing Professional Development 10 hour Refresher Course (March 2021 Release)
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
2022 CPD - Fiduciary Duties
Examining the licensee's fiduciary duty to their client and legal obligations to the parties to the transaction, then looking at considerations when balancing these obligations at different stages of the sale process.
Table of Contents
Real Estate CPD – Balancing fiduciary duties with fairness to the buyer, covers the following information:
Contents
Learning outcomes
Terms used in this guide
Introduction
Part one: Fiduciary duty and fairness to parties
Your fiduciary duty to your client
Your obligation to all parties to the transaction
A professional approach to your obligations
Part two: Obligations during the sale process
Completing the agency agreement and presenting a marketing plan
Marketing the property and carrying out viewings
Negotiation process
2022 CPD - Know The Property
It is essential that you have a thorough knowledge of the property you are selling. You need to gain as much knowledge as you can about the property at listing time.
Table of Contents
Real Estate CPD – Know the property, covers the following information:
Contents
Learning outcomes
Terms used in this guide
Introduction
Part one: Due diligence before and at listing time
Research on key property details
Research on council related matters
Investigation during the property inspection visit
Discussions with clients
Discussing legal and contractual obligations with the client
Discussing the property with the client
Part two: Consequences of not knowing the property
Implications of due diligence for comparative market analysis (CMA)
Implications of due diligence for marketing
Implications of due diligence on disclosure of defects
2022 Verified
2022 REA CPD 10 hour verified course work
Table of Contents
The REA CPD consists of the two following 2 hour mandatory courses: Fiduciary Duties and Know The Property
as well as 6 hours of elective courses to select as part of this bundle package.
Real Estate CPD – Balancing fiduciary duties with fairness to the buyer, covers the following information:
Contents
Learning outcomes
Terms used in this guide
Introduction
Part one: Fiduciary duty and fairness to parties
Your fiduciary duty to your client
Your obligation to all parties to the transaction
A professional approach to your obligations
Part two: Obligations during the sale process
Completing the agency agreement and presenting a marketing plan
Marketing the property and carrying out viewings
Negotiation process
Real Estate CPD – Know the property, covers the following information:
Contents
Learning outcomes
Terms used in this guide
Introduction
Part one: Due diligence before and at listing time
Research on key property details
Research on council related matters
Investigation during the property inspection visit
Discussions with clients
Discussing legal and contractual obligations with the client
Discussing the property with the client
Part two: Consequences of not knowing the property
Implications of due diligence for comparative market analysis (CMA)
Implications of due diligence for marketing
Implications of due diligence on disclosure of defects
2022 Verified 10+10 Bundle
2022 REA CPD 10+10 hour verified and non-verified course work
Table of Contents
The REA CPD consists of the two following 2 hour mandatory courses: Fiduciary Duties and Know The Property
as well as 6 hours of elective courses and 10 hours of no-verified courses to select as part of this bundle package.
Real Estate CPD – Balancing fiduciary duties with fairness to the buyer, covers the following information:
Contents
Learning outcomes
Terms used in this guide
Introduction
Part one: Fiduciary duty and fairness to parties
Your fiduciary duty to your client
Your obligation to all parties to the transaction
A professional approach to your obligations
Part two: Obligations during the sale process
Completing the agency agreement and presenting a marketing plan
Marketing the property and carrying out viewings
Negotiation process
Real Estate CPD – Know the property, covers the following information:
Contents
Learning outcomes
Terms used in this guide
Introduction
Part one: Due diligence before and at listing time
Research on key property details
Research on council related matters
Investigation during the property inspection visit
Discussions with clients
Discussing legal and contractual obligations with the client
Discussing the property with the client
Part two: Consequences of not knowing the property
Implications of due diligence for comparative market analysis (CMA)
Implications of due diligence for marketing
Implications of due diligence on disclosure of defects
2023 Verified
2023 REA CPD verified course work (available in January 2023)
Table of Contents
The REA CPD consists of the two mandatory courses: Code of Conduct and second course to be announced (TBA)
as well as 6 hours of elective courses to select as part of this bundle package.
Real Estate CPD – Code of Conduct topic covers the following information:
Contents
Learning outcomes
Terms used in this guide
Introduction
Part one: The Code of Conduct
Objectives of the Code of Conduct
Part two: Fair Trading Act 1986
Parties ‘in trade'
Implications of the Fair Trading Act for licensees
Examples of breaches of the FTA
Penalties for breaching the Fair Trading Act
Part three: Contract and Commercial Law Act 2017 (Part 2, subpart 3)
Representations and misrepresentations
Part four: Health and Safety at Work Act 2015
Meaning of ‘reasonably practicable’
Who is a PCBU?
Implications of the HSWA for real estate agency work
Part five: Unit Titles Act 2010
Implications of the UTA for licensees
Appendix: The Code of Conduct
2023 Verified Bundle
2023 REA CPD mandatory and elective courses plus non-verified course work (available in January 2023)
Table of Contents
The REA CPD consists of the two mandatory courses: Code of Conduct and a second course to be announced (TBA)
as well as 6 hours of elective courses and 10 hours of non-verified courses to select as part of this bundle package.
The REA CPD consists of the two mandatory courses: Code of Conduct and second course to be announced (TBA)
as well as 6 hours of elective courses to select as part of this bundle package.
Real Estate CPD – Code of Conduct topic covers the following information:
Contents
Learning outcomes
Terms used in this guide
Introduction
Part one: The Code of Conduct
Objectives of the Code of Conduct
Part two: Fair Trading Act 1986
Parties ‘in trade'
Implications of the Fair Trading Act for licensees
Examples of breaches of the FTA
Penalties for breaching the Fair Trading Act
Part three: Contract and Commercial Law Act 2017 (Part 2, subpart 3)
Representations and misrepresentations
Part four: Health and Safety at Work Act 2015
Meaning of ‘reasonably practicable’
Who is a PCBU?
Implications of the HSWA for real estate agency work
Part five: Unit Titles Act 2010
Implications of the UTA for licensees
Appendix: The Code of Conduct
Non-Verified 2022 10 Hours Bundle
This is a 10 hour bundle of non-verified courses. Choose 10 hours from ANY of our non-verified courses. Over 200 Courses to pick from.
Select from 10 hours of non-verified courses
REA CPD - Agency Agreements
REA Verified Continuing Professional Development Elective 1 1/2 hour course on Agency Agreements
Real Estate Continuing Professional Development, Agency agreements, covers the following information:
Contents
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
REA CPD - Anti Money Laundering
The Anti-Money Laundering Act portion of the 2019 CPD must be taken by all real estate professionals, regardless of exemption status. This is the 90 minute portion of the 2019 CPD. Note: this AML section is included in the full 2019 CPD and does not need to be taken separately.
1.5 hour REA mandatory (AML only) module
Real Estate Continuing Education 2019, Anti-money laundering: your compliance requirements, covers the following information:
Learning objectives
Introduction to money laundering
Money laundering in New Zealand
Risk of money laundering activities using real estate
NZ legislation & real estate
Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the AML/CFT Act)
Real Estate Agents as ‘Reporting Entities’ and captured activities
Money laundering offence
The role of the Department of Internal Affairs (DIA)
The supervisor for real estate agents
Powers of supervisors
Reporting entity: compliance requirements
Statutory requirements of reporting entities
AML/CFT Requirements
Risk Assessment
AML/CFT programme and Compliance Officer
Undertaking due diligence: your obligations
Who is our customer under the AML/CFT Act?
Customer Due Diligence
Levels of customer due diligence
Standard customer due diligence
Simplified customer due diligence
Enhanced customer due diligence
Steps to follow when assessing CDD requirements
Examples of CDD
Example 1 – Standard CDD: residential
Example 2 – Standard CDD: commercial
Example 3 – Simplified CDD: commercial
Example 4 – Enhanced CDD: family trust
Example 5 – Enhanced CDD: residential Politically Exposed Person (PEP)
Reporting obligations under AML/CFT
Financial Intelligence Unit (FIU)
Suspicious activity reports (SARs)
Prescribed transaction reports (PTRs)
Reporting Summary
Relationships with other AML/CFT reporting entities
Recognising red flags
Expectations of the DIA on all licensees
Appendices
Appendix 1 – Excerpts from the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (known as the AML/CFT Act)
Appendix 2 - AML/CFT Act: customer due diligence sections
Appendix 3 - Occasional activity or transaction and definition of customer
Appendix 4 - Identity Verification Code of Practice 2013 / Explanatory Note (Dec 2017)
Appendix 5 - Suspicious Activity
REA CPD - Business Sales: Appraisals
A critical part of a licensee’s business sales role is carrying out a thorough appraisal of a business and presenting this to the potential vendor client. Licensees need to convey the appraisal to the potential vendor clearly, concisely, and with all required information included. The sale of a
business is a significant transaction, and the potential vendor client needs to be provided with accurate, well-researched information to make an informed decision on whether to sign an agency agreement, and ultimately whether to proceed with a sale.
Real Estate CPD – Business Sales: Appraisals, covers the following information:
Contents
Learning outcomes
Terms used in this guide
Introduction
Part One: Requirements for appraisals
What is the difference between an appraisal and a valuation?
Legal requirements for an appraisal
Part Two: General process for appraisal of a business
Significance of the size of the business
General appraisal process
Find out the nature of the appraisal
Gather facts/story about the business
Assess internal risk and opportunity factors related to the business
Assess external risk and opportunity factors related to the business
Gather information on the accounts and the business profitability
Find an estimated market value using appropriate methods
Compare results from different methods to arrive at the appraisal value
Apply a ‘sanity test’ to appraisal value or appraisal range
Write up a report for the prospective vendor client
Present the appraisal report to the prospective vendor client
File all appraisal working documents, calculations and notes
Information provided to potential buyers
Where the accepted offer differs significantly from appraisal
Part Three: Updating an appraisal
REA CPD - Code of Conduct
Real Estate licensees must act professionally and be fair to both clients and customers.
As well as the Real Estate Agents Act (Professional Conduct and Client Care) Rules 2012 there are Acts, that are not specific to real estate, that cover issues of fairness and professionalism. These will also affect how you conduct your real estate business.
Table of Contents
Real Estate training: Overview of the Code of Conduct, covers the following information:
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
Objectives of the Real Estate Agents Act (Professional Conduct and Client Care) Rules 2012
REA CPD - Commercial Sales and Leasing - Ethics
REA Verified Continuing Professional Development Elective 1 1/2 hour course on Coomercial Sales and Leasing - Ethics
Real Estate CPD – Commerical Sales and Leasing: Ethics, covers the following information:
Contents
Learning outcomes
Terms used in this guide
Introduction
Overview of issues and ethical behaviour
Overview of issues related to the Commercial sector
Ethical behaviour in the real estate industry
Part one: Real estate agency work and obligations
Real estate agency work
Concepts related to ethics
Ethics in day to day agency work
Your responsibilities to others
Part two: Conflict of interest in transactions
Not representing both parties in the same transaction
Part Three: Carrying out an appraisal
Requirement to carry out an appraisal
Carrying out appraisals for commercial properties
Part Four: Establishing an agency agreement
Agency agreement for a commercial sale or commercial lease
Part Five: Sale and purchase/lease agreement
Negotiating a lease agreement
Agreement to Lease
Deed of Lease
Terms of lease
Renewal of leases
Extending term of the lease
Rent reviews
Part Five: Potential issues when agreements end
Disposal of leases
Termination of leases
Reinstatement of premises
REA CPD - Communications
Real estate agency work takes place in a constantly changing environment with multiple listings and associated communications evolving concurrently.The competent licensee should try to manage this dynamic work environment, making sure all communication is in accordance with their legal obligations.
Table of Contents
Real Estate Continuing Professional Development, Communication: Channels and documentation, covers the following information:
Learning objectives - Section II
Research results: an overview
REA / Nielsen Annual Perceptions research July 2018
Interpersonal communication
Communication within an agency
Oral communication with clients and customers
Electronic communication with clients and customers
settled.govt.nz
Communication throughout the transaction
Communicating with the client throughout the real estate transaction
Managing client price expectations
Record Keeping
REA CPD - Conjunctional Sales
REA Verified Continuing Professional Development Elective 2 hour course on Conjunctional Sales
Real Estate CPD - Conjunctional Sales, covers the following information:
Contents
Acknowledgements
Learning outcomes
Introduction
Sole Agency Agreement
Agency agreements involving more than one agency
What are the licensees'; duties to the client and the customer?
What conjunctional arrangements need to be agreed?
Communication between the agencies during the arrangement
Implications of acting as a "buyer's agent"
Approaches by clients and potential customers
Professionalism in a conjunctional sale situation
Disciplinary action as a result of unprofessional behaviour
REA CPD - Disclosure
Understanding disclosure
Understanding obligations about disclosure is a challenge for many licensees.
This includes understanding obligations to clearly explain legal and fiduciary requirements to clients and customers. It also includes licensee obligations to demonstrate competency and knowledge of any property, space or business they are representing in the market.
Table of Contents
Real Estate Continuing Professional Development 2019, Disclosure: Obligations to your client and customer, covers the following information:
Learning objectives
Welcome to the 2022 CPD Programme
Terms used in this guide
Understanding disclosure
Review of disclosure obligations to clients and customers
Important legislation and the Rules relating to disclosure
Consent of client-vendor or lessor to disclose
Disclosure obligations in relation to sections 134, 135 & 137
Conflict of interest and informed consent
Provisional valuation
Benefitting financially from a transaction other than from commission
Disclosure of material facts to the customer
Information licensees need to disclose
Methamphetamine: disclosure requirements
Recognising ‘red flags’
Form 2 – Client consent for the licensee to acquire an interest in the property
REA CPD - GST
REA Verified Continuing Professional Development Elective 1 1/2 hour course on GST
Real Estate CPD - GST, covers the following information:
Learning outcomes
Introduction
What is GST?
Types of supply
Who must register for GST?
GST on Commercial, Industrial and Rural Land
GST issues in land transactions
Licensee role regarding GST
GST and the Listing Agreement
GST and the Sale and Purchase Agreement
GST requirements and the Rules
Communicating the price of the property
Implications for Lifestyle and Rural Sales
Other tax considerations
REA CPD - Issues Beyond the Boundary
REA Verified Continuing Professional Development Elective 1 hour course on Issues Beyond the Boundary of the property in question being sold
Real Estate CPD - Issues beyond the boundary, covers the following information:
Learning outcomes
Issues beyond the boundary
Disclosure obligations relating to issues beyond the boundary
Scenario 1
Designations
Scenario 2
Construction proposals
Scenario 3
Interaction on site with a client-vendor or lessor
Checklist: Sample questions to ask the vendor
Approvals given and any signed variations
Scenario 4
Scenario 5
Scenario 6
Stigmatised neighbouring properties
Dealing with third parties and information learned from them
REA CPD - Land Information Memoranda (LIMs)
REA Verified Continuing Professional Development Elective 1 1/2 hour course on Land Information Memorandum (LIM)
Real Estate CPD - LIMs, covers the following information:
Contents
Learning outcomes
Terms used in this guide
Introduction
Part One: Significance of the LIM
What is a LIM?
Common issues with LIMs
Part Two: Content of a LIM
What information is contained in a LIM?
What information is not contained in a LIM?
Resource consent
Other council information
Building Act 2004 and the Building Code
Zoning
The council's role in gathering information for a LIM
Some Issues with LIMs
Property file
Part Three: The LIM in the Sale and Purchase process
Preparation for the agency agreement
Interactions with potential buyers
The sale and purchase agreement
From sale and purchase agreement date to unconditional date (Due diligence)
Part Four: What should you be looking for in a LIM?
Issues with council records
Common issues the LIM highlights
Red flags from inspection requiring investigation
Part Five: Misleading and deceptive behaviour
Misleading and deceptive behaviour regarding the LIM
Part Six: Other people who may need involvement
Involvement of your supervisor or manager
Interaction with council personnel
Part Seven: Recording and reporting
Recording and reporting issues
REA CPD - Legal Ownership and Tenure
REA Verified Continuing Professional Development Elective 2 hour course on Legal Ownership and Tenure
Real Estate Continuing Professional Development 2019, Legal ownership and tenure, covers the following information:
Learning objectives
What the essential documents are
Understanding what the essential documents mean
Elements on Records of title
Understanding legal tenure
Limited as to parcels
Limited as to title
Interests, encumbrances and restrictions
Caveats
Leases and residential tenancies
Easements
Encroachments
Building line restrictions
Covenants
Fencing covenants
Consent notices
Consent notices under section 221 of the Resource Management Act 1991
Notices under sections 71-74 of the Building Act 2004 relating to building on hazard-prone land
Notices under sections 75-83 of the Building Act 2004 relating to the construction of buildings on two or more allotments
Amalgamation conditions imposed under section 241 of the Resource Management Act 1991
Māori land
Memorials relating to the resumption of land in terms of section 27A of the State Owned Enterprises Act 1986
Record of title exercises
REA CPD - Marketing
REA Verified Continuing Professional Development Elective 1 1/2 hour course on Marketing
Real Estate CPD - Marketing, covers the following information:
Contents
Learning outcomes
Terms used in this guide
Identifying the real estate agency and confirming your licence
Licensees – personal marketing and advertising
Authority to offer and market
Advertising, marketing and price
Client confidentiality
Disclosing defects
Additional requirements under the Fair Trading Act 1986
'As is/where is' provisions do not negate disclosure obligations
REA CPD - Methods of Sale
Managing the sales process is a crucial part of your real estate agency work. Managing this process requires a thorough understanding of the various sales methods and being able to clearly explain the sales process to sellers and potential buyers.
Table of Contents
Real Estate CPD – Methods of Sale, covers the following information:
Contents
Learning outcomes
Terms used in this guide
Introduction
Part one: Background to sales process
Part two: Communication about methods of sale
Lack of consumer understanding
Addressing confusion regarding the sales process and jargon
Actions to improve understanding of the sales process
Part three: Common methods of sale
General points about offers
Explaining specific sale methods
Fair Trading Act 1986 and the auction process
Common problems with the auction method of sale
Common problems with the tender method of sale
Common problems with sale by advertised price
Common problems with deadline sale
Common problems with sale by negotiation
Common problems with multi-offers
Part four: Other issues regarding the sales process
Buyer expectation of licensees
Transparency in the ‘brought forward’ process
Information being provided to the parties at an appropriate time
Lack of licensee understanding of the sales process
Insufficient communication with unsuccessful buyers
Conflict of interest and the sales process
REA CPD - Physical Property Inspection
REA Verified Continuing Professional Development Elective 1 1/2 hour course on Physical Property Inspection
Real Estate Continuing Professional Development (Physical property inspection) covers the following information:
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
REA CPD - Rural - Environmental Issues
REA Verified Continuing Professional Development Elective 1 1/2 hour course on Rural: Environmental Issues
Real Estate CPD - Rural: Environmental Issues, covers the following information:
Learning outcomes
Introduction
Resource Management Act (RMA)
Role of Regional councils
Gathering information prior to listing a rural property
Plans, reports and test results
National Environmental Standard (for Contaminants)
Licensee's role in requesting information
What are 'red flags' in a rural sale situation?
REA CPD - Rural: Know The Property
This topic continues from the mandatory topic, Know the property. Here we will expand on some points made in the mandatory topic, focusing on specific rural aspects.
This guide will look at best practice from rural licensees before bringing a property to market. Due diligence is critical to this. It is essential that you have a thorough knowledge of the property you are selling before the property is listed.
If you do not research the property sufficiently before listing time, this will likely have implications later. The requirements on rural licensees around what they need to know means there is a risk that if an issue arises due to inadequate due diligence by the licensee, the
issue may go to court.
Table of Contents
Real Estate CPD – Rural (Know the property) covers the following information:
Contents
Learning outcomes
Terms used in this guide
Introduction
Part one: Research on legal documents
Obtain and check the Record of Title from Land Information New Zealand (LINZ)
Confirm key address, area and other details
Part two: Research on council information
Research council related matters
Part three: Research on practical aspects of the property
Discussing the property with the client
Gathering inforamation on the property
Obtaining information regarding health and safety
Investigation during a property inspection visit
Approaching specialists regarding the property
Information for properties other than for dairy farms
Identifying environmental issues
Identifying ‘red flags’ when collecting information
Role of supervision in the due diligence process
Part four: Documentation and record keeping
Entering information in the CRM
Transferring information from your due diligence to the agency agreement
Part five: Disclosure and checking documents
REA CPD - Subdivisions and selling off plans
REA Verified Continuing Professional Development Elective 1 1/2 hour course on Subdivisions and selling off plans
Real Estate CPD – Subdivisions and Selling off plans, covers the following information:
Contents
Learning outcomes
Terms used in this guide
Introduction
Overview: Common issues – subdivisions/new builds
Common issues with subdivisions and new builds
Part One: Establishing a subdivision
The subdivision process
Types of consent
Council considerations regarding a subdivision application
Covenants on the Record of title
Difference between consent notices and covenants
Part two: Selling sections and 'house and land packages'
Due diligence prior to listing
The agency agreement
Marketing
The sale and purchase agreement
Issues pre and post settlement
Supervision of the listing
REA CPD - Supervision
When operating as a business, agents operating as supervisors have an obligation to ensure all salespersons employed or engaged by them are properly supervised and managed.
As supervisors, agents and branch managers hold a key role in real estate agencies. A good supervisor is one of the most effective ways we can promote mana (prestige) and professionalism in the industry. The complexity of a supervisory role requires a high level of knowledge
and experience.
Table of Contents
Real Estate CPD – Supervision, covers the following information:
Acknowledgement
Learning objectives
Terms used in this guide
Preface
Introduction
Agent’s obligation regarding supervision and management of salespersons
Legal requirements for supervision
Professional standard on supervision
Difference between line management and supervision
Supervision of new and inexperienced salespersons
The nature of ‘actual’ supervision
Tailoring supervision to the salesperson’s experience
The supervision role
Identifying supervisors and defining the supervision plan
Salespersons who work at a different location to their supervisor
Keeping supervision records
REA CPD - Trust Accounts
This guide provides information relating to an agent’s responsibility to manage trust accounts, including audit requirements. Improved knowledge of trust accounts is also beneficial for salespersons and branch managers and will assist with their understanding of how their
actions impact those that hold ultimate responsibility.
In this guide, we will examine legal requirements and case law that has further clarified the nature of trust account obligations.
Table of Contents
Real Estate CPD –Trust accounts, covers the following information:
