NZ$279

REA Verifiable Elective CPD: Online Live, New Zealand

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REA Verifiable CPD Training - Commercial Property - Elective Topics, New Zealand

About this Event

This training will be delivered online using our interactive learning platform. All course participants will be emailed training materials prior to the sessions. In advance of the training, we will send you the course link to access the training.

Please sign in at least 15 minutes before your course start time to ensure you can join the online course and you are not facing any IT difficulties.

Further instructions and information will be sent to all attendees prior to the training.

Key Dates and Times:

Friday 4 September 2020 (breaks included)

New Zealand Standard Time: 0900hrs - 1600hrs

Thursdays session contains 4 hours of mandatory CPD.  Fridays session contains 6 hours of verifiable CPD. Complete either session or complete both to fulfill the REA verifiable & mandatory CPD requirements.

According to REA, licensed real estate professionals in New Zealand must complete at least 20 hours of CPD each year by 31 December. This consists of 10 hours of verifiable education (delivered by approved education providers such as RICS) plus 10 hours of non-verifiable education on other topics and types of learning. In 2020, the 10 hours of verifiable education is made up of 4 hours of mandatory topics and 6 hours of elective topics.

As an approved education provider, RICS delivers 10 hours of verifiable education to clients in-house (please contact Caleb Steiner on csteiner1@rics.org for more information) and also arranges open sessions for individuals to obtain 10 hours of verifiable CPD. RICS is the only provider to focus on verifiable CPD with a commercial property focus (rather than residential property).

Elective Topics

AML Due Diligence - 1.5 hours

At the end of this topic, you will be able to:

  • explain whom you must conduct Standard Due Diligence (CDD), Enhanced Due Diligence (EDD) and Simplified Due Diligence (SDD) on
  • explain what is required to identify clients and other relevant individuals
  • explain how a client’s identity and address is certified and verified
  • explain the requirement and process for reporting to the authorities.

GST - 1 hour

At the end of this topic, you will be able to:

  • explain key terms relating to GST
  • explain key taxation legislation around land transactions
  • explain some potential GST issues related to land transactions
  • explain the documentation required around GST in real estate interactions and transactions.

Understanding Agency Law - 1 hour

Understanding:

  • What constitutes a contract under agency law, including:
  1. Agency agreement
  2. Real estate agency work
  3. Authorised authority
  • When real estate agency work begins and ends, for example:
  1. Real estate transaction
  2. Exposure of vendor to double commission
  • The fiduciary relationship (client)
  1. The rules and fiduciary obligations
  2. Confidentiality
  • Developments in consumer relationships (duty of care to the customer)
  • Disclosure of conflicts of interest, including:
  1. Acquisition by the licensee or related person
  • Buyer’s agent rule 11
  • Supervisor responsibilities

Agency Agreements: Professional Competence and Ethics - 1 hour

  • Review: Licensee responsibilities in regard to agency agreements
  • Understanding responsibilities of a professionally competent licensee when entering into an agency agreement, including knowledge of:
  1. Who enters into an agency agreement
  2. Authorised persons
  3. Multiple signatories
  4. Capacity to sign
  5. Capacity labels
  6. Anti-money laundering – customer due diligence
  7. Appraisals
  8. Methods of sale
  9. Commission and marketing and advertising
  10. Material particulars included in the agency agreement
  • Understanding the ethical responsibilities of a licensee
  • Review: advising about double commissions, including an understanding of:
  1. Standard clauses
  2. Entitlement to commission
  3. Standard clauses and rules 9.10 and 9.11
  4. Changes to the Fair Trading Act 1986 – unfair contract terms
  • Understanding rights around the cancellation of agency agreements
  • Understanding disclosure obligations of the vendor or lessor, including:
  1. Disclosure of defects
  • Review of responsibilities when dealing with transactions involving unit title properties

Agency Agreements: Compliance Requirements - 1.5 hours

  • Review the six principles of contract and how they apply to agency agreements
  • Review of agency agreements
  • Understanding the inclusion of material particulars into agency agreements
  • Review of:
  1. Entitlements to commission or expenses
  2. Agency agreements must disclose rebates, discounts, and commissions
  • Understanding Anti-money laundering requirements
  1. Customer due diligence (CDD)
  • Review how the rules apply to agency agreements, including:
  1. Appraisals
  2. Commission payable
  3. Advising about double commissions
  4. Approved guide – residential property (with commercial property context)
  5. Methods of sale and licensee benefits
  • Review of standard clauses for residential agency agreements (with commercial property context), including:
  1. When an agency is entitled to a commission under the standard clauses
  2. Impact of changes in the standard clauses and rules 9.10 and 9.11
  • Review important points relating to sole agency agreements
  • Review cancellation criteria for an agency agreement

RICS – An Approved Training Provider by the REA

RICS has a three-year agreement with the REA – the independent government agency that regulates the New Zealand real estate industry. As an approved training provider, RICS will provide licensed real estate professionals and commercial property firms with access to mandatory CPD packages.

FAQs

 How can I contact the organiser with any questions?

Should you required further information regarding this training session, please don't hesitate to contact the Training team on TrainingAustralasia@rics.org

Can I update my registration information?

Yes, you can update the information on your order by clicking your order on the Tickets page. First, access the account menu, then select "Tickets." Second, select your order. Third, select “Edit” to update your information. Once you’re done, select “Save” to save changes.

Is it ok if the name on my ticket or registration doesn't match the person who attends?

It is advisable to provide accurate information for attendees as certificates are based on information you provided.

Reschedule or Cancellation of Training

Due to the nature of training, we may require to reschedule or cancel due to unforeseen circumstances. We will do our best to email all attendees as soon as possible, should this occur. Should a reschedule or cancellation occur, RICS will not be responsible for any costs, damages or expenses (i.e. travel) etc... that you may suffer or incur.

If you have not previous registered your details with RICS, your information will be added to our database.  Your information will be used in accordance to our privacy policy

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