SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Apply business principles to the Real Estate function 
SAQA US ID UNIT STANDARD TITLE
246738  Apply business principles to the Real Estate function 
ORIGINATOR
SGB Real Estate 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 11 - Services Cleaning, Domestic, Hiring, Property and Rescue Services 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 4  NQF Level 04  8 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This unit standard is for learners seeking to enter the Real Estate profession or someone already in the Real Estate profession wishing to enhance his/her competences. This unit standard enables a learner to apply business principles to Real Estate transactions to ensure achievement of own personal targets.

The qualifying learner is capable of:
  • Applying the principles of budgeting to Real Estate transactions.
  • Making the necessary provisions for own personal financial planning in line with targets and achievable income within Real Estate context.
  • Demonstrating an understanding of taxation in the context of Real Estate from organisational and personal perspectives.
  • Applying the principles of business planning to the Real Estate function. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that the learner accessing this standard will be competent in Communications and Mathematical Literacy at NQF Level 3 or equivalent. 

    UNIT STANDARD RANGE 
    N/A 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Apply the principles of budgeting to Real Estate transactions. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The concept and theories of budgeting and cash flow forecasting are explained in the context of Real Estate functions. 

    ASSESSMENT CRITERION 2 
    A sales budget is compiled based on targets set for achieving own goals. 

    ASSESSMENT CRITERION 3 
    An income budget based on commission rates is defined for personal budget. 

    ASSESSMENT CRITERION 4 
    An expenditure budget is drawn up to determine profit/loss and breakeven points. 

    ASSESSMENT CRITERION 5 
    A cash flow forecast is drawn up based on expected income dates to ensure effective management of cash flow whilst waiting for deals to be finalised. 

    SPECIFIC OUTCOME 2 
    Make the necessary provisions for own personal financial planning in line with targets and achievable income within Real Estate context. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The financial risks in selling Real Estate are discussed with examples in relation to own goals and personal plans. 

    ASSESSMENT CRITERION 2 
    Own personal plans are drawn up in order to provide the necessary provisions for effective financial planning. 
    ASSESSMENT CRITERION RANGE 
    Provisions include but are not limited to retirement, medical aid, retirement annuities, personal investments in property, insurance policies.
     

    ASSESSMENT CRITERION 3 
    Where relevant, a financial consultant or insurance broker is consulted to determine forecasted figures for retirement needs. 

    ASSESSMENT CRITERION 4 
    Personal budgets are adjusted according to long-term provisional needs. 

    ASSESSMENT CRITERION 5 
    Work budgets and targets are aligned to own personal provisional needs for short-, medium- and long-term. 

    SPECIFIC OUTCOME 3 
    Demonstrate an understanding of taxation in the context of Real Estate from organisational and personal perspectives. 
    OUTCOME RANGE 
    Tax includes but is not limited to personal tax, company tax, capital gains tax and withholding tax, transfer duties, donations tax, stamp duty, estate duty, property rates, tax avoidance and tax evasion. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The principles of personal tax are discussed in relation to own income structures within Real Estate environment. 

    ASSESSMENT CRITERION 2 
    The principle of Value Added Tax (VAT) is discussed in the Real Estate context. 

    ASSESSMENT CRITERION 3 
    The tax affairs of buyers, sellers and agents are briefly discussed in relation to tax on property dealings. 

    ASSESSMENT CRITERION 4 
    The principles of income tax on investment or lease income are explained with examples. 

    ASSESSMENT CRITERION 5 
    The procedure for obtaining an assessment from SARS is explained in relation to real estate transactions. 

    SPECIFIC OUTCOME 4 
    Apply the principles of business planning to the Real Estate. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The methods for drawing up a business plan are identified and explained with examples. 

    ASSESSMENT CRITERION 2 
    The necessary market research is conducted in order to compile own business plan for Real Estate function. 

    ASSESSMENT CRITERION 3 
    Marketing plans are drawn up accordingly. 

    ASSESSMENT CRITERION 4 
    Financial forecasts are ascertained from marketing plans. 

    ASSESSMENT CRITERION 5 
    Methods for monitoring and evaluating business plans are put in place. 

    ASSESSMENT CRITERION 6 
    Business plans are drawn up, implemented, monitored and adjusted according to own Real Estate context. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Any individual wishing to be assessed (including through RPL) against this unit standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this unit standard or assessing this unit standard must be accredited as a provider with the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Moderation of assessment will be conducted by the relevant ETQA at its discretion. 
    		•

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • The basic principles of management including planning, leading, organising, controlling.
  • The principles of budgeting and basic financial planning.
  • Business plans.
  • Basic principles of taxation. 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems using critical and creative thinking processes to plan personal and work targets utilising the basic principles of business. 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team, group, organisation or community to gather all the necessary information for inclusion in business plan. 

    UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one's activities responsibly and effectively in order to achieve targets and manage for personal and work provisions. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information in order to analyse business plan and apply to work and personal planning contexts. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and/or language in the modes of oral and/or written persuasion to integrate business principles into Real Estate function. 

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology effectively and critically, showing responsibility to the environment and health of others to compile business and personal plans and monitor progress. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of interrelated systems by recognising that business principles within Real Estate context do not exist in isolation and that a variety of factors can affect the success of Real Estate and therefore own personal planning and targets. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Participate as responsible citizens in the life of local, national and global communities by ensuring that sound business principles are applied so that services can be rendered in a professional manner. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  59097   Further Education and Training Certificate: Real Estate  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  SERVICES 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    NONE 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.