Download 4695 Implement the marketing function in real estate firms

NZQA registered unit standard
4695 version 7
Page 1 of 4
Title
Implement a marketing strategy for a property or business
Level
5
Purpose
Credits
6
This unit standard is for people who are employed as
salespersons in the real estate industry.
People credited with this unit standard are able to:
plan and conduct marketing research on a property or
business;
develop a marketing strategy for the property or business;
implement the agreed marketing strategy; and
measure the effectiveness of the agreed marketing
strategy against objectives.
Classification
Real Estate > Real Estate Management
Available grade
Achieved
Explanatory notes
1
References
Consumer Guarantees Act 1993;
Contractual Remedies Act 1979;
Companies Act 1993;
Fair Trading Act 1986;
Holidays Act 2003;
Human Rights Act 1993;
Health and Safety at Work 2015;
Overseas Investment Act 2005;
Overseas Investment Regulations 2005;
Privacy Act 1993;
Real Estate Agents Act 2008;
Resource Management Act 1991;
Residential Tenancies Act 1986;
Unit Titles Act 2010;
and all subsequent amendments and replacements.
2
Definitions
Company requirements refer to the market segments used within the company.
Market positioning involves formulating a competitive position for a service.
Market segmentation involves dividing a market into distinct groups of clients and
prospects who might require different services.
Market targeting involves evaluating each segment’s attractiveness and selecting
one or more segments to enter.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2017
NZQA registered unit standard
4695 version 7
Page 2 of 4
Marketing function includes – marketing research, market segmentation, market
targeting, and market positioning, to enable marketing, and promotional plans and
strategies to be developed.
Marketing research is the function that links the marketer to the client through
information that defines marketing opportunities and problems, and marketing
performance.
Marketing methods Marketing techniques –
Marketing materials Industry requirements mean all actions must comply with legislation, codes of
professional conduct and client care, and approved guides. Legislation is available
from http://www.legislation.govt.nz and codes of professional conduct and client care,
and approved guides are available from http://www.reaa.govt.nz.
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.
Customer means a person who is a buyer or potential buyer of land or a business
and is commonly known in the industry as purchaser or buyer.
Prospective customer means a person who is considering or intending to enter into
an agreement for sale and purchase of a property.
Agent means a real estate agent who holds, or is deemed to hold, a current license
as an agent under the Real Estate Agents Act 2008.
Agency Agreement means an agreement under which an agent is authorised to
undertake real estate agency work for a client in respect of a transaction. It is
commonly known in the industry as a listing form.
3
Assessment
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 evidence requirements
Outcome 1
Plan and conduct marketing research on a property or business.
Evidence requirements
1.1
Identify goals and objectives for market research appropriate to the property or
business, consistent with client expectations, and market conditions.
1.2
Use market research methods and techniques to collect data and information
appropriate to the property or business.
Range:
may include but is not limited to: market surveys, sales histories,
current market trends, immigration statistics, technology changes
1.3
Analyse collected data and information to produce a report.
1.4
Justify the methods and techniques used and the recommendations.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2017
NZQA registered unit standard
4695 version 7
Page 3 of 4
Outcome 2
Develop a marketing strategy for the property or business.
Evidence requirements
2.1
Identify prospective customers for the property or business
Range
prospective customers includes but is not limited to –
demographic, geographic, socio- economic, property or business
type.
2.2
Assess the benefits to the client of accurate selection of target markets in terms
of satisfying customer needs and allocating marketing resources.
2.3
Prepare a proposal outlining different marketing strategies and timeframes and
provide reasons for the recommended strategy.
2.4
Provide a cost benefit analysis of the recommended strategy.
Outcome 3
Implement the agreed marketing strategy.
Evidence requirements
3.1
Provide the marketing schedule for the agreed strategy.
3.2
Produce appropriate marketing materials consistent with the agreed marketing
strategy in accordance with the Fair Trading Act 1986 and industry
requirements.
3.3
Provide an example of each of the marketing materials used for the strategy.
Outcome 4
Measure the effectiveness of the agreed marketing strategy against objectives.
Evidence Requirements
4.1
Produce a report on the effectiveness of the marketing strategy.
Range
The Skills Organisation
SSB Code 100401
report may include but is not limited to – number of hits on
website, number of enquiries generated, information memoranda,
number of inspections of property or business, buyer registration,
offers received, concluded sale/lease.
 New Zealand Qualifications Authority 2017
NZQA registered unit standard
Planned review date
4695 version 7
Page 4 of 4
31 December 2015
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
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
N/A
Consent and Moderation Requirements (CMR) reference
0003
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
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.
Comments on this unit standard
Please contact The Skills Organisation at [email protected] if you wish to
suggest changes to the content of this unit standard.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2017