2019 REA

[2019V]

Price: $ 94.95+GST

The 2019 REA 10 hour verified course (5 hour mandatory, 5 hour elective)

Table of Contents

5 hour REA mandatory section which includes Anti-Money Laundering, Communication and Disclosure modules

Table of Contents - Anti-Money Laundering

Real Estate Continuing Education 2019, Anti-money laundering: your compliance requirements, covers the following information:

Learning objectives

Introduction to money laundering

Money laundering in New Zealand

Risk of money laundering activities using real estate

NZ legislation & real estate

Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the AML/CFT Act)

Real Estate Agents as ‘Reporting Entities’ and captured activities

Money laundering offence

The role of the Department of Internal Affairs (DIA)

The supervisor for real estate agents

Powers of supervisors

Reporting entity: compliance requirements

Statutory requirements of reporting entities

AML/CFT Requirements

Risk Assessment

AML/CFT programme and Compliance Officer

Undertaking due diligence: your obligations

Who is our customer under the AML/CFT Act?

Customer Due Diligence

Levels of customer due diligence

Standard customer due diligence

Simplified customer due diligence

Enhanced customer due diligence

Steps to follow when assessing CDD requirements

Examples of CDD

Example 1 – Standard CDD: residential

Example 2 – Standard CDD: commercial

Example 3 – Simplified CDD: commercial

Example 4 – Enhanced CDD: family trust

Example 5 – Enhanced CDD: residential Politically Exposed Person (PEP)

Reporting obligations under AML/CFT

Financial Intelligence Unit (FIU)

Suspicious activity reports (SARs)

Prescribed transaction reports (PTRs)

Reporting Summary

Relationships with other AML/CFT reporting entities

Recognising red flags

Expectations of the DIA on all licensees

Appendices

Appendix 1 – Excerpts from the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (known as the AML/CFT Act)

Appendix 2 - AML/CFT Act: customer due diligence sections

Appendix 3 - Occasional activity or transaction and definition of customer

Appendix 4 - Identity Verification Code of Practice 2013 / Explanatory Note (Dec 2017)

Appendix 5 - Suspicious Activity

Table of Contents - Communcation Section

Real Estate Continuing Professional Development, Communication: Channels and documentation, covers the following information:

Learning objectives

Research results: an overview

REA / Nielsen Annual Perceptions research July 2018

    What are real estate consumers saying?

Interpersonal communication

    Definition

    Three forms of communication

    Interpersonal skills when carrying out real estate agency work

Communication within an agency

    Policies and procedures

    Agency property files

Oral communication with clients and customers

Electronic communication with clients and customers

    Text messaging

    Email

    Social media

Sending scanned documents between parties

settled.govt.nz

Communication throughout the transaction

    The real estate transaction

    Communicating with the client throughout the real estate transaction

    Communicating with the customer throughout the real estate transaction

    Written verification

Record Keeping

    Statutory requirements

Appendices

    Appendix 1 – Real Estate Agents Act 2008 – ss 72 and 73

    Appendix 2 – Real Estate Agents Act (Professional Conduct and Client Care) Rules 2012

Table of Contents - Disclosure Section

Real Estate Continuing Professional Development 2019, Disclosure: Obligations to your client and customer, covers the following information:

Learning objectives

Understanding disclosure

    A fresh perspective on disclosure

    Misrepresentation

    Review of disclosure obligations to clients and customers

Important legislation and the Rules relating to disclosure

Consent of client-vendor or lessor to disclose

    Disclosure of personal and/or property-related information

Disclosure obligations in relation to sections 134, 135 & 137

    Section 134

    Section 135

    Section 137

Benefitting financially from a transaction other than from commission

    Section 136

Disclosure of material facts to the customer

Information licensees need to disclose

    Disclosure of sensitive issues

    ‘As is/where is’ provisions do not negate disclosure obligations

    When to disclose

Methamphetamine: disclosure requirements

    What does this mean for licensees?

    Prudent Advice

Recognising ‘red flags’

Appendices

    Appendix 1 – Real Estate Agents Act (Professional Conduct and Client Care) Rules 2012

    Appendix 2 – Real Estate Agents Act 2008, ss 134 to 137

    Appendix 3 - The Fair Trading Act 1986

    Appendix 4 - Contract & Commercial Law Act 2017