Qualification review updates
In response to feedback from the industry, we’ve initiated a review of the real estate qualifications suite in collaboration with The Skills Organisation, REINZ and the Open Polytechnic. You can find updates on the progress of the review here.
15 December 2020
Real Estate qualifications review and development
We're pleased to advise that The Real Estate Authority (REA), the Real Estate Institute of New Zealand (REINZ), and more recently The Skills Organisation (Skills), have been working closely with people from the real estate industry to better understand their needs, both now and into the future, to design a qualification suite that is fit for purpose and supports a career pathway in real estate.
The proposed changes, if approved, could result in changes to the existing Agent and Branch Manager qualifications. Consultation will shortly commence on the proposed changes. Once consultation opens, we will invite you via email to review and provide your feedback.
In the meantime, this is how you can engage in the qualifications that relate to the Agent and Branch Manager licensing classes:
- People who want to complete the qualification required to apply for the Agent licence class can continue to enrol in Skills’ programme which leads to the award of the National Diploma in Real Estate (Agent) (Level 5). Assessments for this qualification will need to be achieved by June 2022. Skills’ Real Estate Operations team will let people know if they can cross-credit any unit standards previously achieved and also advise them about the time required to complete the qualification while working.
- Both Skills and the Open Polytechnic of New Zealand offer programmes leading to the award of the National Certificate in Real Estate (Branch Manager) (Level 5) and the New Zealand Certificate in Real Estate (Branch Manager) (Level 5), respectively. Both of these qualifications can be used to apply for the Branch Manager licence class. If learners complete the National Certificate in Real Estate (Branch Manager) (Level 5) with Skills then they will have completed most of the assessments required for the National Diploma in Real Estate (Agent) (Level 5). Skills offers a programme to transition between the two qualifications.
More information about real estate licensing is available here.
10 October 2020
Review of the real estate qualifications suite underway
The next 5-10 years is a critical period for the real estate sector, with many seasoned branch managers and agents planning to retire and exit the industry.
In the coming months, our REA team will be working closely with qualifications bodies and industry representatives to co-design and consult on the development of a refreshed qualifications suite.
We’ve started by seeking industry feedback. You told us that the current National Diploma in Real Estate (Agent) (Level 5) and the planned New Zealand Diploma in Business (Level 6) (Real Estate) are both too big and take too long to complete.
Instead, you’ve told us you’d like the qualifications to build on each other, focus on the core skills and requirements at each level, and support career progression in the industry. We’re listening to your feedback.
Qualifications in New Zealand need to be approved by NZQA and are developed by Skills (and soon, the interim Workforce Development Council). At REA, our role in this process will be to facilitate collaboration with the industry, to ensure that your voices are heard, and your needs are met. Our objective is to ensure that the real estate qualifications suite and delivery programmes are fit for purpose for the industry and meet our regulatory requirements.
We know that capturing the insight and expertise of licensees is essential to ensure the final product is something that works for you, and the next generation of real estate professionals. Equally, consumers need to be able to feel confident that the New Zealand qualifications suite sets a robust minimum standard for training and expertise.
We want New Zealand licensees to be completing New Zealand qualifications. A strong New Zealand qualifications suite is key to lifting the standards of conduct and professionalism across the industry, and plays an important role in lifting public perception of real estate professionals.
What happens to qualifications in the meantime?
Learners will still be able to complete most real estate qualifications while the review of the qualification suite is underway.
- The New Zealand Certificate in Real Estate (Salesperson) Level 4 will continue to be available from several education organisations.
- The New Zealand Certificate in Real Estate (Branch Manager) Level 5 will continue to be available from the Open Polytechnic.
- NZQA has granted an extension to the current National Diploma in Real Estate (Agent) Level 5, which is available via Skills. The last date for assessment of this qualification is now 30 June 2022, with new enrolments likely to close 30 June 2021.
- There is currently no programme available for enrolments to complete the New Zealand Certificate in Real Estate (Specialist) Level 5, which offers strands in Business Broking, Commercial, Complex Residential, and Rural. This qualification is set to expire.
As part of the normal qualification review cycle, the New Zealand Certificate in Real Estate (Salesperson) Level 4 has been recently reviewed by an industry consultation group, with some small improvements recommended. We’re working with Skills to understand the next steps in this review.
As part of the review’s co-design process, there will be an opportunity for the industry to provide feedback on the Business Broking, Commercial, Complex Residential, and Rural unit standards of the specialist qualification, and whether these should be incorporated into another qualification.
Updates on the progress of the qualifications review
We’ll provide regular updates to licensees through the REA newsletter.
If you have any questions or would like to be actively involved, get in touch with Nadine Thomas, Industry Insights and Engagement Manager via firstname.lastname@example.org.