Modification History
Not Applicable
Unit Descriptor
Unit descriptor |
This unit of competency specifies the outcomes required to place a value on facilities and assets. It requires the ability to assess, record, report and analyse information on facilities and assets. The unit also requires knowledge of basic accounting procedures to determine the market value of facilities and assets. The unit may form part of the licensing requirements for persons engaged in property development, sales and management activities, 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. |
Application of the Unit
Application of the unit |
This unit of competency supports the work of those involved in placing a value on facilities or assets. |
Licensing/Regulatory Information
Refer to Unit Descriptor
Pre-Requisites
Prerequisite units |
Nil |
Employability Skills Information
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. |
Elements and Performance Criteria Pre-Content
Elements describe the essential outcomes of a unit of competency. |
Performance criteria describe the required performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge and/or the range statement. Assessment of performance is to be consistent with the evidence guide. |
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
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1 Research facility or asset . |
1.1 Information on client facility or asset is gathered and organised in a format suitable for analysis and interpretation according to organisational requirements . 1.2 Reliable methods of gathering information are used according to organisational requirements, making efficient use of available time and resources. 1.3 Appropriate interpersonal techniques are used to access additional information from relevant people . 1.4 Source documents are obtained and analysed to determine status and ownership of asset according to legislative requirements . |
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2 Arrange assessment of value of facility or asset . |
2.1 Appropriate valuation specialists are arranged to provide advice according to organisational requirements. 2.2 Market value of facility or asset is assessed and determined according to established instructions and organisational procedures. 2.3 Comparative market data is accessed to enable a valid assessment of facility or asset value. 2.4 Estimation of value is clear, justified and based on assessment of all factors according to organisational procedures. 2.5 Limitations in determining value of facility or asset are recognised and specialist advice is sought as required according to organisational requirements. |
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3 Present information . |
3.1 Information on value of facility or asset is presented within specified time, budget and quality constraints according to client and organisational requirements. 3.2 Information is prepared in the required format, style and structure using relevant business equipment and technology . 3.3 Feedback on suitability and sufficiency of advice is obtained and, where appropriate, incorporated into advice. 3.4 All facility or asset information is securely maintained with due regard to client confidentiality according to organisational and legislative requirements. |
Required Skills and Knowledge
REQUIRED SKILLS AND KNOWLEDGE |
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This section describes the essential skills and knowledge and their level, required for this unit. |
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Required skills :
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Required knowledge and understanding :
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Evidence Guide
EVIDENCE GUIDE
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 placing a value on facilities and assets. 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:
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Context of and specific resources for assessment |
Resource implications for assessment include:
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:
In all cases 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. |
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Range Statement
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.
Clients may include: |
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Assets may relate to: |
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Organisational requirements may be outlined and reflected in: |
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Interpersonal techniques may include: |
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Relevant people may include: |
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Source documents may include: |
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Legislative requirements may be outlined and reflected in: |
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Comparative market data may include: |
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Specialist advice may be sought from: |
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Business equipment and technology may include: |
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Feedback may be obtained from: |
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Information may relate to: |
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Unit Sector(s)
Unit sector |
Property development, sales and management |
Competency field
Competency field |
Property operations and development |