Equivalency/Exemptions Matrix for Further Education and Training Certificate: Real Estate (NQF Level 4) SAQA QUAL ID 59097
Note: The relevant qualification must have been completed in full
BSc QS
BSc Construction Management
BSc Residential Property
Diploma in Construction Science and Building Surveying
Diploma in Land and Property Development Management
National Diploma Real Estate (UNISA): Property Marketing/Valuation/Practice)
National Higher Certificate in Property Practice.
360 credits at NQF Level 6
Practitioners holding these qualifications are exempted from the Further Education and Training Certificate: Real Estate (NQF Level 4).
Wednesday, October 29, 2008
Monday, October 27, 2008
Unit Standards FET Real Estate NQF 4
FET Real Estate NQF 4 – Unit Standards
ID
UNIT STANDARD TITLE
LEVEL
CREDITS
Core
246734
Advise role players on Real Estate financing options
Level 4
6
Core
246738
Apply business principles to the Real Estate function
Level 4
8
Core
246735
Demonstrate an understanding of the Real Estate environment
Level 4
8
Core
242584
Demonstrate knowledge and understanding of the Financial Advisory and Intermediary Services Act 2002 (FAIS) (Act 37 of 2002) as it impacts on a specific financial services sub-sector
Level 4
2
Core
246733
Demonstrate knowledge and understanding of the legislation applicable to real estate practice
Level 4
12
Core
242593
Explain South African money laundering legislation and the implications for accountable institutions in transacting with clients
Level 4
3
Core
246739
Manage self-development in a Real Estate environment
Level 4
8
Core
246736
Market, sell and lease property
Level 4
20
Core
246737
Demonstrate knowledge of and apply the Real Estate Code of Conduct and ethics
Level 5
6
Fundamental
119472
Accommodate audience and context needs in oral/signed communication
Level 3
5
Fundamental
119466
Interpret a variety of literary texts
Level 3
5
Fundamental
119457
Interpret and use information from texts
Level 3
5
Fundamental
119465
Write/present/sign texts for a range of communicative contexts
Level 3
5
Fundamental
9015
Apply knowledge of statistics and probability to critically interrogate and effectively communicate findings on life related problems
Level 4
6
Fundamental
119462
Engage in sustained oral/signed communication and evaluate spoken/signed texts
Level 4
5
Fundamental
119469
Read/view, analyse and respond to a variety of texts
Level 4
5
Fundamental
9016
Represent analyse and calculate shape and motion in 2-and 3-dimensional space in different contexts
Level 4
4
Fundamental
7468
Use mathematics to investigate and monitor the financial aspects of personal, business, national and international issues
Level 4
6
Fundamental
12153
Use the writing process to compose texts required in the business environment
Level 4
5
Fundamental
119459
Write/present/sign for a wide range of contexts
Level 4
5
Elective
13418
Demonstrate knowledge and understanding of a mortgage bond as a form of debt security
Level 4
6
Elective
12181
Demonstrate knowledge and understanding of basic investment techniques
Level 4
2
Elective
13420
Demonstrate knowledge and understanding of the bond registration process
Level 4
6
Elective
110003
Develop administrative procedures in a selected organisation
Level 4
8
Elective
114583
Develop, implement and evaluate a marketing strategy for a new venture
Level 4
8
Elective
242822
Employ a systematic approach to achieving objectives
Level 4
10
Elective
110000
Generate information and reports for internal and external use
Level 4
10
Elective
15089
Identify and apply property, asset and investment management principles
Level 4
5
Elective
15059
Identify and co-ordinate facilities management opportunities
Level 4
5
Elective
110009
Manage administration records
Level 4
4
Elective
242819
Motivate and Build a Team
Level 4
10
Elective
114596
Research the viability of new venture ideas/opportunities
Level 4
5
ID
UNIT STANDARD TITLE
LEVEL
CREDITS
Core
246734
Advise role players on Real Estate financing options
Level 4
6
Core
246738
Apply business principles to the Real Estate function
Level 4
8
Core
246735
Demonstrate an understanding of the Real Estate environment
Level 4
8
Core
242584
Demonstrate knowledge and understanding of the Financial Advisory and Intermediary Services Act 2002 (FAIS) (Act 37 of 2002) as it impacts on a specific financial services sub-sector
Level 4
2
Core
246733
Demonstrate knowledge and understanding of the legislation applicable to real estate practice
Level 4
12
Core
242593
Explain South African money laundering legislation and the implications for accountable institutions in transacting with clients
Level 4
3
Core
246739
Manage self-development in a Real Estate environment
Level 4
8
Core
246736
Market, sell and lease property
Level 4
20
Core
246737
Demonstrate knowledge of and apply the Real Estate Code of Conduct and ethics
Level 5
6
Fundamental
119472
Accommodate audience and context needs in oral/signed communication
Level 3
5
Fundamental
119466
Interpret a variety of literary texts
Level 3
5
Fundamental
119457
Interpret and use information from texts
Level 3
5
Fundamental
119465
Write/present/sign texts for a range of communicative contexts
Level 3
5
Fundamental
9015
Apply knowledge of statistics and probability to critically interrogate and effectively communicate findings on life related problems
Level 4
6
Fundamental
119462
Engage in sustained oral/signed communication and evaluate spoken/signed texts
Level 4
5
Fundamental
119469
Read/view, analyse and respond to a variety of texts
Level 4
5
Fundamental
9016
Represent analyse and calculate shape and motion in 2-and 3-dimensional space in different contexts
Level 4
4
Fundamental
7468
Use mathematics to investigate and monitor the financial aspects of personal, business, national and international issues
Level 4
6
Fundamental
12153
Use the writing process to compose texts required in the business environment
Level 4
5
Fundamental
119459
Write/present/sign for a wide range of contexts
Level 4
5
Elective
13418
Demonstrate knowledge and understanding of a mortgage bond as a form of debt security
Level 4
6
Elective
12181
Demonstrate knowledge and understanding of basic investment techniques
Level 4
2
Elective
13420
Demonstrate knowledge and understanding of the bond registration process
Level 4
6
Elective
110003
Develop administrative procedures in a selected organisation
Level 4
8
Elective
114583
Develop, implement and evaluate a marketing strategy for a new venture
Level 4
8
Elective
242822
Employ a systematic approach to achieving objectives
Level 4
10
Elective
110000
Generate information and reports for internal and external use
Level 4
10
Elective
15089
Identify and apply property, asset and investment management principles
Level 4
5
Elective
15059
Identify and co-ordinate facilities management opportunities
Level 4
5
Elective
110009
Manage administration records
Level 4
4
Elective
242819
Motivate and Build a Team
Level 4
10
Elective
114596
Research the viability of new venture ideas/opportunities
Level 4
5
New training requirements for Estate Agents 2008
Qualification: Further Education and Training Certificate Real Estate NQF 4 (ID 59097)
This is a national qualification on a Matric level that will raise the esteem of the Estate Agency profession and is recognized in other countries.
No longer will estate agency be a ‘job of last resort’, but rather a career of choice. A new entrant into the industry will have to make a long term commitment, because it will take at least a year to qualify and will require extensive financial resources. Quick entry into the industry will cease and dedicated people will stay.
Implementation date: 15 July 2008
How does the new requirements affect existing full status Estate Agents?
(i.e anybody who has passed the Board exam or has worked a full year as a Candidate Estate Agent)
· No one is exempt from having to prove his competency
· Every Agent has to complete a process called Recognition of Prior Learning (RPL) before 31 December 2011.
· Should an Agent be registered for RPL, but by the due date fail to be found completely competent, he will be given an additional two years to remedy the situation. If he is still found to be not yet competent by 2013, his Fidelity Fund certificate will be withdrawn and he will no longer be able to operate as an Estate Agent.
· Existing agents will be assessed by way of their Portfolio of Evidence, which is a record and proof of all their qualifications in real estate and otherwise, letters of recommendation from clients, certificates of attendance, adverts, showhouse brochures, etc.
· Guidelines on how to put this together will made available, but will have to include at least 1) CV, 2) Certificates, 3) Evidence of Personal Experience and 4) Assignments.
· All Agents will have to pass the Professional Designation Examination (Final Summit Assessment) on completion of their assessment, which will be a two hour open book practical exam.
UNLESS
An Agent has been registered with the Estate Agency Affairs Board for a period of 5 consecutive years prior to the effective implementation date, being 15 July 2008.
· All Agents will be subjected to an examination called Continuing Professional Development (CPD) on an on-going basis on a 3-years rolling cycle to ensure that they keep up to date with new developments and legislation in the industry.
How does this affect new entrants into the industry?
· A compulsory intern period of one year will have to be completed, before he will acquire full status.
· This will be completed under supervision of a Principal or Agent with at least 3 years experience through a structured mentoring system.
· Such an intern with have to disclose to clients that he is an intern and he is not allowed to complete any sales documentation.
· He has to apply for a Fidelity Fund Certificate as a Candidate Estate Agent or Intern.
· He has to obtain 150 credits by being found competent on the prescribed Unit Standards within the year period and may not take leave of absence for longer than 30 consecutive days without attracting penalties.
· 30% of the work to be done is theoretical and 70% is practical.
· The Final Summit Assessment is the Professional Designation Examination and can only be taken once he has been found competent on all the Unit Standards as prescribed.
· Eg. A person would already have 70 credits, if he has done Matric with 2 languages and Mats (58 credits) and has done the EAAB exam (12 credits).
Sitters
· If a sitter acts only as custodian and does not engage in any sales talk about the property and its features, but simply takes a name and address of visitors, she need not have a Fidelity Fund Certificate.
· If she does anything more, she has to go through the complete cycle of training as Estate Agent.
Principals
· Will have to qualify on a NQF 5 level, which is equal to a Matric plus one year education
· The assessment will be conducted by an accredited assessor on at least an NQF 6 level.
· Details of exactly what the RPL process will entail are still unclear, but it is promised to be “exciting and challenging”!
· All will have to be registered for RPL by 2011 and be found competent. The extension to 2013 to ‘fill in the gaps’ will also apply.
· Directors of Real Estate Agencies must hold a Fidelity Fund Certificate and has to qualify.
Shareholders, not acting as Principal Agents do not need to qualify.
Attorneys are no longer exempt, unless the Agency is run from his practice under his legal Fidelity Fund.
Financial implication
· Current independent facilities offering training on the required Unit Standards charges R12500 per person for the training and assessment of results.
· Facilities offering the full spectrum of Recognition of Prior Learning charges R10000 – R12500 per person.
· Huizemark Franchising Group will endeavour to offer the facilitation and assessment to its Agents as far as possible FREE OF CHARGE. However, external moderation of assessment, affiliation with an accredited training provider and listing on the National Learner Database will have a cost implication.
* An initial enrolment and commitment fee of R600 will be payable which will cover the assessment of the agent's qualification for excemption.
This is a national qualification on a Matric level that will raise the esteem of the Estate Agency profession and is recognized in other countries.
No longer will estate agency be a ‘job of last resort’, but rather a career of choice. A new entrant into the industry will have to make a long term commitment, because it will take at least a year to qualify and will require extensive financial resources. Quick entry into the industry will cease and dedicated people will stay.
Implementation date: 15 July 2008
How does the new requirements affect existing full status Estate Agents?
(i.e anybody who has passed the Board exam or has worked a full year as a Candidate Estate Agent)
· No one is exempt from having to prove his competency
· Every Agent has to complete a process called Recognition of Prior Learning (RPL) before 31 December 2011.
· Should an Agent be registered for RPL, but by the due date fail to be found completely competent, he will be given an additional two years to remedy the situation. If he is still found to be not yet competent by 2013, his Fidelity Fund certificate will be withdrawn and he will no longer be able to operate as an Estate Agent.
· Existing agents will be assessed by way of their Portfolio of Evidence, which is a record and proof of all their qualifications in real estate and otherwise, letters of recommendation from clients, certificates of attendance, adverts, showhouse brochures, etc.
· Guidelines on how to put this together will made available, but will have to include at least 1) CV, 2) Certificates, 3) Evidence of Personal Experience and 4) Assignments.
· All Agents will have to pass the Professional Designation Examination (Final Summit Assessment) on completion of their assessment, which will be a two hour open book practical exam.
UNLESS
An Agent has been registered with the Estate Agency Affairs Board for a period of 5 consecutive years prior to the effective implementation date, being 15 July 2008.
· All Agents will be subjected to an examination called Continuing Professional Development (CPD) on an on-going basis on a 3-years rolling cycle to ensure that they keep up to date with new developments and legislation in the industry.
How does this affect new entrants into the industry?
· A compulsory intern period of one year will have to be completed, before he will acquire full status.
· This will be completed under supervision of a Principal or Agent with at least 3 years experience through a structured mentoring system.
· Such an intern with have to disclose to clients that he is an intern and he is not allowed to complete any sales documentation.
· He has to apply for a Fidelity Fund Certificate as a Candidate Estate Agent or Intern.
· He has to obtain 150 credits by being found competent on the prescribed Unit Standards within the year period and may not take leave of absence for longer than 30 consecutive days without attracting penalties.
· 30% of the work to be done is theoretical and 70% is practical.
· The Final Summit Assessment is the Professional Designation Examination and can only be taken once he has been found competent on all the Unit Standards as prescribed.
· Eg. A person would already have 70 credits, if he has done Matric with 2 languages and Mats (58 credits) and has done the EAAB exam (12 credits).
Sitters
· If a sitter acts only as custodian and does not engage in any sales talk about the property and its features, but simply takes a name and address of visitors, she need not have a Fidelity Fund Certificate.
· If she does anything more, she has to go through the complete cycle of training as Estate Agent.
Principals
· Will have to qualify on a NQF 5 level, which is equal to a Matric plus one year education
· The assessment will be conducted by an accredited assessor on at least an NQF 6 level.
· Details of exactly what the RPL process will entail are still unclear, but it is promised to be “exciting and challenging”!
· All will have to be registered for RPL by 2011 and be found competent. The extension to 2013 to ‘fill in the gaps’ will also apply.
· Directors of Real Estate Agencies must hold a Fidelity Fund Certificate and has to qualify.
Shareholders, not acting as Principal Agents do not need to qualify.
Attorneys are no longer exempt, unless the Agency is run from his practice under his legal Fidelity Fund.
Financial implication
· Current independent facilities offering training on the required Unit Standards charges R12500 per person for the training and assessment of results.
· Facilities offering the full spectrum of Recognition of Prior Learning charges R10000 – R12500 per person.
· Huizemark Franchising Group will endeavour to offer the facilitation and assessment to its Agents as far as possible FREE OF CHARGE. However, external moderation of assessment, affiliation with an accredited training provider and listing on the National Learner Database will have a cost implication.
* An initial enrolment and commitment fee of R600 will be payable which will cover the assessment of the agent's qualification for excemption.
Wednesday, October 8, 2008
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