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Title / Facilitate the discharge of real estate contracts
Level / 5 / Credits / 3
Purpose / This unit standard is for people who intend to operate as branch managers or agents in the real estate industry.
People credited with this unit standard are able to:
–facilitate the discharge of real estate contracts;
–identify real estate contracts that may be invalid or unenforceable;
–identify and explain the reasons why real estate contracts may be enforceable due to part performance; and
–enable staff to facilitate the discharge of real estate contracts.
Classification / Real Estate > Real Estate Management
Available grade / Achieved
Prerequisites / Unit 4703, Manage the preparation of real estate contracts.
Guidance Information
1References
Companies Act 1993;
Consumer Guarantees Act 1993;
Contractual Remedies Act 1979;
Credit Contracts and Consumer Finance Act 2003;
Fair Trading Act 1986;
Human Rights Act 1993;
Land Transfer Act 1952;
Overseas Investment Act 2005;
Overseas Investment Regulations 2005;
Property Law Act 2007;
Property (Relationships) Act 1976;
Real Estate Agents Act 2008;
Residential Tenancies Act 1986;
Unit Titles Act 2010;
and all subsequent amendments and replacements.
2Definitions
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
Common Law is also known as case law – judgements made by courts, rather than laws written by parliament. Judgements relating to the duties of an ‘agent’ may be applicable to this unit standard.
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.
3Assessment
This unit standard must be assessed on the basis of evidence of demonstrated performance in the workplace or in simulated work situations designed to draw upon similar performance to that required in the workplace.
Outcomes and performance criteria
Outcome 1
Facilitate the discharge of real estate contracts.
Performance criteria
1.1The discharge of real estate contracts is facilitated and is consistent with industry requirements.
Rangeincludes but is not limited to – contract performance, agreement, frustration of contract specific performance;
evidence is required of facilitating the discharge of three different real estate contracts.
Outcome 2
Identify real estate contracts that may be invalid or unenforceable.
Performance criteria
2.1The identification of contracts that are invalid or unenforceable is consistent with the requirements of the relevant legislation.
Rangeincludes but is not limited to – Contractual Remedies Act 1979, Real Estate Agents Act 2008, Credit Contracts and Consumer Finance Act 2003, Overseas Investment Regulations 2005, Property (Relationships) Act 1976.
2.2The likelihood of contracts being invalid or unenforceable is determined in the light of the circumstances, legal requirements, and professional advice.
Rangeevidence is required of three factors likely to make a contract unenforceable or invalid.
Outcome 3
Identify and explain the reasons why real estate contracts may be enforceable due to part performance.
Performance criteria
3.1Contracts that may be enforceable due to part performance are identified and the likelihood of contracts being enforceable is determined in the light of the circumstances, legal requirements, and professional advice.
Rangeevidence is required for two different contracts.
Outcome 4
Enable staff to facilitate the discharge of real estate contracts.
Performance criteria
4.1Information and systems on the discharge of contracts are provided for staff, consistent with industry requirements.
Rangeproper supervision of salespeople as defined in s 50 of the Real Estate Agents Act 2008.
4.2A training programme, developed to enable staff to manage the discharge of real estate contracts in accordance with legal, company procedures, and industry requirements, is outlined.
4.3Two resources are developed to support staff in the work associated with the discharge of real estate contracts in accordance with industry requirements.
Replacement information / This unit standard and unit standards 4703, 4705 and 4707 were replaced by unit standard 30488.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
Revision / 2 / 13 November 1997 / 31 December 2013
Review / 3 / 19 January 1999 / 31 December 2013
Revision / 4 / 14 March 2003 / 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