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Title / Develop new business plans for real estate firms
Level / 6 / Credits / 8
Purpose / This unit standard is for people who intend to operate as agents in the real estate industry.
People credited with this unit standard are able to:
–analyse environments and develop competitive strategies for real estate firms;
–develop mission statements for real estate firms;
–develop strategic goals for real estate firms;
–facilitate development of team and individual objectives and action plans;
–identify resource requirements and sources and explain how resources will be used; and
–prepare budgets and cash flow statements.
Classification / Real Estate > Real Estate Management
Available grade / Achieved
Prerequisites / Unit 4695, Develop and implement a marketing strategy for a property or business.
Guidance Information
1References
Consumer Guarantees Act 1993;
Employment Relations Act 2000;
Fair Trading Act 1986;
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;
Unit Titles Act 2010;
and all subsequent amendments and replacements.
2Definitions
Business plan is a written document prepared by proprietors, partners, shareholders, branch managers, or licensees that describes the mission, goals, and objectives of businesses and the steps necessary for achievement. It incorporates strategic, tactical, and operational plans in a single document.
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.
Company procedures are the specific procedures used in real estate companies and vary from company to company. All must comply with the Real Estate Agents Act 2008 and any applicable real estate regulations that may apply.
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 and codes of professional conduct and client care, and approved guides are available from
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
3Assessment
This unit standard will be assessed on the basis of evidence of demonstrated performance in the workplace or in simulated work situations designed to draw upon similar performance to that required in the workplace.
Outcomes and performance criteria
Outcome 1
Analyse environments and develop competitive strategies for real estate firms.
Performance criteria
1.1Analysis of external, internal, and operating environments is consistent with industry requirements and market conditions.
1.2The development of competitive strategies is consistent with industry requirements and market conditions.
Outcome 2
Develop mission statements for real estate firms.
Performance criteria
2.1The development of mission statements is consistent with industry requirements and company procedures.
Outcome 3
Develop strategic goals for real estate firms.
Performance criteria
3.1The development of strategic goals is consistent with industry requirements and company procedures.
Outcome 4
Facilitate development of team and individual objectives and action plans.
Performance criteria
4.1The development of team and individual objectives is facilitated consistent with industry requirements.
4.2The development of team and individual action plans and contingency plans is facilitated consistent with industry requirements.
Outcome 5
Identify resource requirements and sources and explain how resources will be used.
Performance criteria
5.1Financial, material, and human resource requirements are identified in the business plan consistent with industry requirements and company procedures.
5.2Specification of resource usage is outlined in terms of company procedures.
Outcome 6
Prepare budgets and cash flow statements.
Performance criteria
6.1Preparation of budgets and cashflow statements is consistent with generally accepted accounting practices and company procedures and industry requirements.
Replacement information / This unit standard and unit standards 5146, 26153 and 22306 were replaced by unit standard 30481.This unit standard is expiring. Assessment against the standard must take place by the last date for assessment set out below.
Status information and last date for assessment for superseded versions
Process / Version / Date / Last Date for AssessmentRegistration / 1 / 27 July 1995 / 31 December 2013
Review / 2 / 26 March 1996 / 31 December 2013
Revision / 3 / 13 November 1997 / 31 December 2013
Review / 4 / 19 January 1999 / 31 December 2013
Review / 5 / 18 December 2006 / 31 December 2013
Review / 6 / 12 February 2010 / 31 December 2013
Rollover and Revision / 7 / 16 August 2012 / 31 December 2019
Review / 8 / 26 October 2017 / 31 December 2019
Consent and Moderation Requirements (CMR) reference / 0003
This CMR can be accessed at
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA, before they can report credits from assessment against unit standards or deliver courses of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and which are assessing against unit standards must engage with the moderation system that applies to those standards.
Requirements for consent to assess and an outline of the moderation system that applies to this standard are outlined in the Consent and Moderation Requirements (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.
The Skills OrganisationSSB Code 100401 / New Zealand Qualifications Authority 2018 / / New Zealand Qualifications Aut