- CPPDSM6003A - Contract to invest in property
Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners
CPPDSM6003A Mapping and Delivery Guide
Contract to invest in property
Version 1.0
Issue Date: May 2024
| Qualification | - |
Unit of Competency | CPPDSM6003A - Contract to invest in property |
|---|---|---|---|
| Description | This unit of competency specifies the outcomes required to manage the development and performance of a property investment contract. It requires the ability to negotiate contract specifications and undertake a due diligence review against an investment feasibility study.The unit may form part of the licensing requirements for persons working in the property industry, including in the real estate, business broking, stock and station agency and property operations and development sectors, in those States and Territories where these are regulated activities. | ||
| Employability Skills | The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary of the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements. | ||
| Learning Outcomes and Application | This unit of competency supports the work of those involved in managing the development and performance of a property investment contract. | ||
| Duration and Setting | X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting. |
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| Prerequisites/co-requisites | Nil | ||
| Competency Field | Property operations and development | ||
| Development and validation strategy and guide for assessors and learners | Student Learning Resources | Handouts Activities |
Slides PPT |
Assessment 1 | Assessment 2 | Assessment 3 | Assessment 4 | |
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| Elements of Competency | Performance Criteria | |||||||
| Element: Formulate contract specifications. |
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| Element: Undertake due diligence review. |
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| Element: Develop investment contract. |
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| Element: Evaluate investment contract. |
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Evidence Required
List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.
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 managing the development and performance of a property investment contract. Targeted written (including alternative formats where necessary) or verbal questioning to assess the candidate's underpinning knowledge would provide additional supporting evidence of competence. The demonstration and questioning would include collecting evidence of the candidate's 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: interpreting and applying applicable legal, ethical and organisational requirements evaluating the property investment contract against contract specifications, due diligence and feasibility outcomes and documenting conclusions for future strategic goals and policies knowledge of organisation's practices, ethical standards and legislative requirements associated with managing the development and performance of a property investment contract preparing a property investment contract within agreed timeframes and ensuring the interests of the client are protected undertaking a due diligence review against feasibility study and negotiating required variations to study or contract using effective communication strategies to formulate property investment contract specifications. |
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 and/or 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 person's 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 (RCC/RPL), 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 project-based 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. |
Submission Requirements
List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here
Assessment task 1: [title] Due date:
(add new lines for each of the assessment tasks)
Assessment Tasks
Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.
This section describes the essential skills and knowledge and their level, required for this unit. | |
Required skills: communication skills to negotiate contract arrangements, obtain feedback and consult with clients computing skills to access the internet and web pages, prepare and complete online forms, lodge electronic documents and search online databases evaluation skills to analyse contract information and specifications, assess feasibility study outcomes and review contracts interpersonal skills to relate to people from a range of social, cultural and ethnic backgrounds and varying physical and mental abilities literacy skills to interpret written and oral information management skills to plan contract development processes, achieve contract objectives and make decisions about impact of due diligence outcomes on feasibility study organisational skills to manage consultative processes and determine appropriate timeframes. | |
Required knowledge and understanding: commercial and contract law due diligence processes economics as they relate to the property industry feasibility studies limitations of work role, responsibility and professional abilities property appraisal methods and interpretation of findings relevant Australian standards relevant federal and state or territory legislation and local government regulations related to: anti-discrimination consumer protection environmental issues equal employment opportunity (EEO) financial probity franchise and business structures industrial relations OHS privacy property sales, leasing and management risk management strategies strategic management principles and practices strategic planning. | |
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.
Investment may include: | concepts and plans strategies and placement of capital in property for investment productive use of property and assets customer service outcomes. |
Negotiated refers to negotiation techniques that should include: | clearly presenting options and consequences control of tone of voice and body language demonstrating flexibility and willingness to negotiate using positive, confident and cooperative language using language and concepts appropriate to the people involved using strategic questioning and listening to gather information and direct the focus of people involved using summarising of positions and agreements to move understanding. |
Relevant people may include: | agents clients company directors consultants, including legal, banking, financial architectural, engineering, surveying, environmental, valuation, planning and insurance |
governing body government personnel management and colleagues members of industry associations property or facilities owners and managers. | |
Communication strategies may relate to: | clear and concise use of technical terminology direct line supervision paths face-to-face meetings lateral supervision paths organisational communication protocols and procedures organisational networks telephone, facsimile and written communication. |
Analysis: | may be: explorative, descriptive, causative or predictive quantitative and qualitative may include: basic statistical analysis critical analysis mathematical calculations problem solving. |
Relevant information may include information relating to: | financial, accounting and taxation records insurances leases legal information relating to the property, including current claims, court actions, trade mark issues, prior charges and current ownership structures licences maintenance contracts ownership, operational and adjoining owners' agreements plans, photos and other property documentation plant and equipment |
property details property investment feasibility study remedial and contamination issues research into investment market, demographics, competition and development proposals technical issues, including: building specifications quantity surveyor's reports statements of defects building permits structural, mechanical, electrical, hydraulic and fire services and protection air conditioning and ventilation refrigeration vertical transport asbestos valuations. | |
Strategic context may include: | competitive cultural financial legal aspects of organisational functions operational political social. |
Consultants may be sourced from the following sectors: | architectural banking engineering environmental financial insurance legal planning surveying valuation. |
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. |
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. |
Due diligence means: | the process by which an investor, lawyer, consistent auditor or other qualified person, verifies the accuracy of data provided by another organisation. |
Due diligence review may relate to: | financial issues, such as taxation and accounting legal issues, such as current claims, court actions, trademark issues and prior charges legal searches planning and development property documentation, including agreements, contracts, leases, valuations, authorities, plans and maintenance research conducted on such things as demographics and competition technical issues tenancy analysis town planning. |
Feedback may include: | formal and informal discussions, reviews and evaluations with: colleagues and directors existing and previous clients information provided by others involved in a professional capacity, both internal and external to the organisation. |
Specialist advice may be sought from: | clients and stakeholders company directors governing body management and colleagues relevant consultants, including legal, banking, financial, architectural, engineering, surveying, environmental, valuation, planning and insurance. |
Evaluation methods could be qualitative or quantitative and may include: | checklists cost data analysis expert and peer review interviews observation questionnaires review of quality assurance data. |
Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.
Observation Checklist
| Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice | Yes | No | Comments/feedback |
|---|---|---|---|
| Investment contract specifications are negotiated and formulated in consultation with relevant people. | |||
| Communication strategies and processes are established and implemented to assist ongoing communication between contract parties. | |||
| Analysis is made of relevant information and legislation to provide strategic context to investment objectives. | |||
| Instructions are issued to consultants to prepare draft contract. | |||
| Applicable ethical, organisational and legislative requirements are interpreted and applied. | |||
| Instructions are issued to relevant consultants to undertake due diligence review for assessment against feasibility study. | |||
| Impacts of due diligence review are documented and assessed against feasibility study outcomes. | |||
| Variations to feasibility study are identified and a decision made to proceed, renegotiate or withdraw as required. | |||
| Required variations to contract are negotiated and agreed between parties to reflect outcomes of due diligence process. | |||
| Contract is prepared in appropriate style and format ensuring compliance with contract specifications and due diligence outcomes. | |||
| Contract is reviewed to ensure accuracy of information and is disseminated to relevant people for feedback. | |||
| Contract text is amended to include feedback from client in line with organisational policy and procedures. | |||
| Situations requiring specialist advice are identified and addressed. | |||
| Contract is finalised and settlement effected according to agreed timeframes. | |||
| Contract is reviewed using established evaluation methods relative to contract specifications. | |||
| Reliable evaluation methods are used, making efficient use of time and resources. | |||
| Verifiable conclusions are detailed with due diligence and according to feasibility outcomes. | |||
| Comments and recommendations are made available for review and reformulation of strategic goals and policies. | |||
| Information is securely maintained with due regard to client confidentiality, and legislative and organisational requirements. |
Forms
Assessment Cover Sheet
CPPDSM6003A - Contract to invest in property
Assessment task 1: [title]
Student name:
Student ID:
I declare that the assessment tasks submitted for this unit are my own work.
Student signature:
Result: Competent Not yet competent
Feedback to student
Assessor name:
Signature:
Date:
Assessment Record Sheet
CPPDSM6003A - Contract to invest in property
Student name:
Student ID:
Assessment task 1: [title] Result: Competent Not yet competent
(add lines for each task)
Feedback to student:
Overall assessment result: Competent Not yet competent
Assessor name:
Signature:
Date:
Student signature:
Date: