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Elements and Performance Criteria

  1. Research property opportunity.
  2. Analyse property opportunity.
  3. Recommend and secure property deal.
  4. Package property deal.

Required Skills

This section describes the essential skills and knowledge and their level required for this unit

Required skills

analytical skills to apply statistical methods and techniques

computing skills to access the internet and web pages prepare and complete online forms lodge electronic documents and search online databases

interpersonal skills to relate to people from a range of social cultural and ethnic backgrounds and varying physical and mental abilities and to liaise with property investment stakeholders

organisational skills to maintain records and databases organise and prepare property opportunity submissions and propose models for property investment

problem solving skills to determine factors that may affect property markets and evaluate risks

research skills to analyse and interpret property and market information and identify relevant sources of information

technology skills to use financial and assessment software and spreadsheets efficiently and to access and present market information

Required knowledge and understanding

concepts and strategies for placement of capital in property for investment

current market knowledge

ethical practices and relevant codes of conduct

industry benchmarks

investment risk factors and relationship to return expectations

land economics

local property market conditions and overall trends in the industry

political environment

range of research methods and analysis techniques

relevant federal and state or territory legislation and local government regulations related to

antidiscrimination

consumer protection

environmental issues

equal employment opportunity EEO

financial probity

franchise and business structures

industrial relations

OHS

privacy

property sales leasing and management

town planning

valuation

Evidence Required

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria required skills and knowledge the range statement and the Assessment Guidelines for this Training Package

Overview of assessment

This unit of competency could be assessed through practical demonstration of creating and securing property opportunities Targeted written including alternative formats where necessary or verbal questioning to assess the candidates underpinning knowledge would provide additional supporting evidence of competence The demonstration and questioning would include collecting evidence of the candidates knowledge and application of ethical standards and relevant federal and state or territory legislation and regulations This assessment may be carried out in a simulated or workplace environment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

A person who demonstrates competency in this unit must be able to provide evidence of

analysing property market information using data analysis techniques and developing investment scenarios

documenting and presenting a packaged property deal and gaining a formal commitment to the deal

knowledge of organisations practices ethical standards and legislative requirements associated with identifying and securing property opportunities

making recommendations on a property opportunity and using appropriate control methods to secure control of the property deal

sourcing and organising property market information and using it to identify property opportunities

Context of and specific resources for assessment

Resource implications for assessment include

a registered provider of assessment services

assessment materials and tools

candidate special requirements

competency standards

cost and time considerations

suitable assessment venue and equipment

workplace documentation

Where applicable physical resources should include equipment modified for people with disabilities

Access must be provided to appropriate learning andor assessment support when required

Assessment processes and techniques must be culturally appropriate and appropriate to the language and literacy capacity of the candidate and the work being performed

Validity and sufficiency of evidence require that

competency will need to be demonstrated over a period of time reflecting the scope of the role and the practical requirements of the workplace

where the assessment is part of a structured learning experience the evidence collected must relate to a number of performances assessed at different points in time and separated by further learning and practice with a decision of competence only taken at the point when the assessor has complete confidence in the persons competence

all assessment that is part of a structured learning experience must include a combination of direct indirect and supplementary evidence

where assessment is for the purpose of recognition RCCRPL the evidence provided will need to be current and show that it represents competency demonstrated over a period of time

assessment can be through simulated projectbased activity and must include evidence relating to each of the elements in this unit

In all cases activity and must include evidence relating to each of the where practical assessment is used it will be combined with targeted questioning to assess the underpinning knowledge Questioning will be undertaken in such a manner as is appropriate to the language and literacy levels of the candidate and any cultural issues that may affect responses to the questions and will reflect the requirements of the competency and the work being performed


Range Statement

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording in the performance criteria is detailed below. Add any essential operating conditions that may be present with training and assessment depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts.

Consultative processes may include:

face-to-face meetings

telephone, facsimile and written communication.

Clients may include:

financial institutions

fund managers

individuals

internal and external property groups

investment organisations.

Organisational requirements may be outlined and reflected in:

access and equity principles and practice guidelines

business and performance plans

complaint and dispute resolution procedures

goals, objectives, plans, systems and processes

legal and ethical requirements and codes of practice

mission statements and strategic plans

OHS policies, procedures and programs

policies and procedures in relation to client service

quality and continuous improvement processes and standards

quality assurance and procedure manuals.

Property market information may be sourced from:

consultants

industry and organisational databases

information services

press clippings

published industry data, including industry indices

third parties

trade journals.

Analysis may include:

computer modelling

examination of cash flows and other financial projections

examination of collected data

quantitative and qualitative analysis

probability analysis

time series recognition.

Legislative requirements may be outlined and reflected in:

Australian standards

general duty of care to clients

home building requirements

privacy requirements

relevant federal, and state or territory legislation that affects organisational operation, including:

anti-discrimination and diversity

environmental issues

EEO

industrial relations

OHS

relevant industry codes of practice covering the market sector and industry, financial transactions, taxation, environment, construction, land use, native title, zoning, utilities use (water, gas and electricity), and contract or common law

strata, community and company titles

tenancy agreements

trade practices laws and guidelines.

Resources may include:

materials

personnel

tools and equipment

training

transport.

Opportunities:

may include:

adding value

aggregating assets

altering existing property

change in use, ownership, appearance or perception of property

changing style of investment

creating something new

using bankers and financiers

may be maximised by:

flexibility in negotiation

protection of integrity of concept

enhancing saleability of proposition.

Market variables may relate to:

ability to control assets

balancing a portfolio

capacity to improve assets

capital growth versus short-term gain

cash flows

demographics

gearing possibilities

geographic aspects

limits to financial resources

return on investment

return versus risk

taxation considerations

type of property.

Industry benchmarks may include:

building operational costs

business strategy parameters

economic parameters

financial constraints

historical operational costs

industry published building occupation data

market expectations

research data

statutory costs.

Market parameters may include:

assessment of supply and demand for asset type

best use of asset

financial constraints

maximum asset use

return on investment

tenancy possibilities.

Specialist advice may be sought from:

architects

bankers and financiers

business consultants

developers

land economists

members of industry associations

planners

real estate agents

solicitors

taxation and accounting practitioners

valuers.

Methods for securing control may include:

confidentiality agreements

legal constraints

letters of intent

memoranda of understanding

options over site.

Business equipment and technology may include:

computers

data storage devices

email

facsimile machines

internet, extranet and intranet

photocopiers

printers

scanners

software applications, such as databases and word applications.

Relevant people may include:

accountants

agents

clients

government personnel

interested parties

legal representatives

management and colleagues

members of industry associations

site personnel

taxation specialists.

Package may include:

analysis of alternatives

chosen option

clear indication of commerciality of deal

details of site security

extent of financial involvement

history of proposition

letters of intent from interested parties

statements on credibility of parties.

Commitment may relate to:

confidentiality agreements

guarantees

letters of intent.