Higher Certificate in Management for Estate Agents

Purpose

The Higher Certificate in Management for Estate Agents is intended to be a one-year programme that provides an overview of the application of essentials of business management theory to the Real Estate sector. It is designed to provide persons in the Real Estate sector a convenient and appropriate avenue to business management studies and also to become compliant with recently promulgated regulations that require estate agents to be formally qualified and engaging in career development programmes. This Higher Certificate will broaden the students understanding of essential functions of estate agents management such as business management, corporate governance, business ethics, finance, marketing, and entrepreneurship. The programme develops the student's skills necessary to enhance productivity, effectiveness and better performance while building and improving sound business practices in the real estate sector.

Rationale

The Higher Certificate in Management of Estate Agents is a programme is in response to the real estate sectors need for management and skills development. With the boom in this sector, it has been identified as one of the priority sectors that require training interventions to respond to the needs of all stakeholders in the sector. Further, the Estate Agents Affairs Board (EAAB) has made mandatory a NQF Level 5 qualification to practice as estate agents. This programme is intended to meet the requirements of this new framework to practice as real estate agents.

The programme offers students the opportunity to improve their business management skills and knowledge and become empowered in order to function effectively within the real estate sector.

This qualification assumes that

• The student shows competency in the real estate sector.
• The student is competent in the language of instruction of the programme.
• Students are able to work effectively both independently and in a group.

Recognition of Prior Learning

Admission to this programme may be obtained through the recognition of prior learning. Candidates who do not qualify for admission in terms of the minimum admission criteria may be considered for admission through a process of RPL in keeping with the RBS RPL policy.

Access to the Qualification

Candidates for admission to the programme are required to have a senior certificate or equivalent NQF Level 4 qualification.

The programme will also accept candidates who possess a Certificate for Estate Agents [CEA].

Candidates who do not qualify for admission in terms of any of the above but who feel that they are adequately equipped to cope with the programme will be considered for admission through a process of RPL supported by detailed motivation of the candidate's ability to succeed. This motivation will be carefully considered by the Programme Selection Committee.

• Level at which qualification is fixed: NQF Level 5.
• Total Credits: 120 credits.

Components

Core learning; 120 credits (20 credits each)

• Business Management and Entrepreneurship.
• Financial Management.
• Business Information Systems.
• Marketing Management.
• Business Law.
• Real Estate Practice.
• Learning Component: Core.
• Number of credits allocated: 120 credits.
• NQF Level: 5.

A learner attaining the Higher Certificate in Management for Estate Agents will be able to

• Apply basic management principles in context of management in real estate.
• Analyse and use financial information for business decision making in real estate.
• Utilise financial management tools for effective acquisition and use of organisational resources in the real estate sector.
• Utilise Information and Communications Technology to communicate effectively in the real estate sector.
• Identify the critical success factors for starting and managing a real estate agency.
• Design and implement marketing strategies to leverage business opportunities in relation to the property market.
• Discuss and review the different legislative practices involved in the real estate sector.

Specific Outcomes (for each Module)

Business Management and Entrepreneurship; 20 credits

At the end of the module the learner will be able to

• Explain the nature and structure of business organisations.
• Distinguish between the different types of business organisations and forces at work on it.
• Describe the stages in the evolution of management thought.
• Identify the central concepts involved that make an effective business.
• Assess the impact of change on a modern business organisation.
• Explain the effective use of tools for effective functioning of a manager (eg. Planning).
• Advise on key parameters for effective managerial decision making.
• Design how an organisation determines and achieves its goals.
• Evaluate the role of a manager in modern context by using creative problem solving skills.
• Identify the challenges that contemporary managers face.
• Define entrepreneurship.
• Distinguish between entrepreneurship and intrapreneurship.
• Outline the role of small businesses in the economy.
• Draw up a business plan for an SMME.
• Evaluate franchising as a means of entrepreneurial development.

Financial Management; 20 credits

At the end of the module the learner will be able to

• Define basic concepts in finance.
• Read the financial statements and make informed judgements on the financial well being of companies.
• Gain an appreciation and understanding of the sources and utilisation of the funds flow in an organisation.
• Advise on key parameters for effective financial decision making.
• Describe the benefits of budgetary planning systems in a business context.
• Identify and use key factors in making capital investment decisions.
• Describe the main factors of asset management.
• Discuss the application of valuations in the estate agent sector.

Business Information Systems; 20 credits

At the end of the module the student will be able to

• Describe the operational and managerial roles of information systems.
• Gain an appreciation of the major concepts, developments and managerial implications involved in computer hardware, software, database management and telecommunications technologies.
• Demonstrate an understanding of how information technology is used in modern information systems to support the end user collaboration, enterprise operations, managerial decision making and strategic advantage.
• Utilize IS systems to support decision making.

Business Law; 20 credits

At the end of the module the student will be able to

• Describe the law of contract, purchase and sale, law of lease, law of commercial agency, law of insurance and law of security as related to the real estate sector.
• Discuss the different forms of business enterprise.
• Discuss the law of partnership, close corporation and private company.
• Explain employment law and alternative dispute resolution.

Marketing Management; 20 credits

At the end of the module the student will be able to

• Explain the interface between marketing management and the environment.
• Describe the composition of the marketing environment.
• Analyse marketing opportunities.
• Indicate how markets are segmented.
• Outline factors that should be considered when selecting a target market.
• Describe positioning methods that marketers can pursue in practice.
• Define the steps in the marketing planning process.
• Develop basic marketing strategies.
• Differentiate between different types of competition.
• Demonstrate knowledge of technology behind the internet.
• Use electronic marketing concepts to develop new marketing strategies.
• Explain the nature of services marketing.
• Demonstrate the importance of public relations in the real estate sector.
• Describe the main elements of marketing communication.

Real Estate Practice; 20 credits

At the end of the module the student will be able to

• Describe the principles of the negotiation process and discuss the techniques that can be used in the process.
• Interpret the policies and practices of the real estate sector.
• Discuss the practice of estate agents management.
• Discuss the main elements of human resource management.

Associated Assessment Criteria for Exit Level Outcomes

• Business Management theory and principles are applied in the real estate sector.
• Efficiency of financial management is identified.
• Concepts related to marketing management and business law are discussed and explained.
• Appropriate technology is utilised in various communication modes.
• Knowledge of real estate practice management is demonstrated.

Assessment is based on

• The use of work based assignments to test the application of management principles in the real estate sector.
• Understanding the principles of business management and entrepreneurship.
• The use of marketing management and business law principles in the understanding of management in the real estate sector.
• The use of information technology, networks and web browsers to obtain work related information and communicate with peers.
• The use of basic research to solve problems.

Integrated Assessment

Assessment centres around

• The extent to which the learner has grasped the basic concepts which form the base of financial management and accounting education:

> The application of theory to a practical context.

> The methods of research used.

> A balance between theory and practice and its relevance to the level of the qualification.

> The use of appropriate technology to ensure effective communication of ideas.

The Assessment methods measure the extent to which the learner has achieved competence in the different areas of study delivered through course modules and contact sessions. These assessment methods include:

• Case studies.
• Report writing.
• Interpretative and analytical problem solving in the written examination.
• Work based assignments.
• Self assessment activities in the course material.