Unit of competency details

Unit descriptor 

This unit of competency specifies the outcomes required to apply foundation knowledge to work effectively and efficiently in the property industry. It covers the basic entry-level functions to enable compliance with legislative, financial and procedural requirements. It requires the ability to identify potential risks associated with a range of activities within the property industry, and opportunities for improving own professional development.

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.

Application of the unit 

This unit of competency supports the work of those involved in applying foundation knowledge to work effectively and efficiently in the property industry.

Prerequisite units 

Nil

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 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.

ELEMENT 

PERFORMANCE CRITERIA 

1 Interpret and comply with legislative , financial and procedural requirements .

1.1 Legislative , financial and procedural requirements  relevant to agency services  are identified and interpreted according to client needs  and organisational requirements .

1.2 Key principles relating to consumer protection and trade practices are identified and interpreted according to legislative and industry requirements.

1.3 Own interpretation and application of legislative, financial and procedural requirements are confirmed with relevant people  to ensure consistent and accurate understanding.

1.4 Situations requiring specialist advice  are identified and assistance is sought as required according to organisational procedures.

2 Interpret and comply with ethical practices and rules of conduct .

2.1 Regulatory and industry standards , codes of ethics and conduct  are identified and interpreted according to organisational requirements.

2.2 Key principles relating to agency ethical values are identified and interpreted according to legislative and industry requirements.

2.3 Own interpretation and application of ethical and conduct requirements are confirmed with relevant people to ensure consistent and accurate understanding.

2.4 Situations requiring specialist advice are identified and assistance is sought as required according to organisational procedures.

3 Interpret work role and responsibilities .

3.1 Own role and responsibilities are identified and confirmed with relevant people according to organisational requirements.

3.2 Work tasks are identified, scheduled and completed within designated timeframes according to client and organisational requirements.

3.3 Work reflects an understanding and respect of individual differences, and work practices  are adapted as appropriate to meet the specific needs  of relevant people.

3.4 Feedback  from clients and colleagues is sought and used to determine professional competency and quality of performance, and to identify key areas for improvement.

3.5 Information regarding learning and professional development is recorded and maintained according to organisational requirements.

4 Identify risks .

4.1 Potential and existing risks  are identified and reported to relevant people according to organisational procedures.

4.2 Recommendations on appropriate strategies to minimise risks and complaints are discussed with relevant people.

4.3 Limitations  in identifying risks are identified and assistance is sought from relevant people according to organisational requirements.

4.4 Appropriate information collection techniques  are used to access information on potential and existing risks from individuals and groups.

5 Complete standard contractual documentation .

5.1 Standard documentation  for property operations is completed according to legislative and procedural requirements.

5.2 Business equipment and technology  are used as required to complete documentation according to applicable OHS, organisational and industry requirements.

5.3 Written information meets organisational standards of language, accuracy and relevance and is used in an ethically and legally appropriate manner.

5.4 Property documentation and information systems are securely maintained according to confidentiality, legislative and organisational requirements.

6 Develop understanding of industry employment requirements .

6.1 Industry employment and professional development  requirements are accessed and interpreted to ensure own continuous professional development.

6.2 Employee and employer rights and responsibilities, including remuneration and awards, are accessed and interpreted.

6.3 Key industry and statutory organisations able to assist own professional development are identified and assistance is sought as required.

6.4 Industry competency standards and other relevant benchmarks  are identified and reviewed to establish future professional development needs and priorities.

REQUIRED SKILLS AND KNOWLEDGE 

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

Required skills :

• communication skills to follow financial requirements, such as trust account procedures; identify and complete appropriate documentation; interpret and understand legal, financial and procedural requirements; and access and understand a variety of information
• 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 respect individual differences
• organisational skills to create a personal professional development plan and prioritise personal professional development needs
• reflection skills to differentiate between professional and personal values
• self-evaluation skills to evaluate own work practices in order to identify ways to improve performance or understanding.

Required knowledge and understanding :

• foundation knowledge of handling trust monies and office processes
• limitations of work role, responsibility and professional abilities
• OHS issues and requirements
• organisational and professional procedures
• social and ethical practices and business 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
• property sales, leasing and management

• risk factors relating to a variety of transactions.

Overview of assessment 

This unit of competency could be assessed through demonstrating the completion of daily work activities associated with the property industry in line with legal and procedural requirements. Targeted written (including alternative formats where necessary) or verbal questioning to assess the candidate's underpinning knowledge would provide 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 complying with relevant legislative, financial and procedural requirements and confirming own understanding and application with relevant people
• interpreting and complying with ethical practices and codes of conduct and checking own understanding and application with relevant people
• identifying a range of potential and existing risks using appropriate information collection techniques, and discussing recommendations on strategies to minimise risks with relevant people
• completing standard contractual documentation ensuring adherence to legislative and procedural requirements, and securely maintaining property information
• interpreting and using industry employment and professional development guidelines and benchmarks, and seeking assistance from key industry and statutory organisations to ensure own continuous professional development
• interpreting and verifying own role and responsibilities and demonstrating an understanding and respect of individual differences in carrying out work tasks.

Context of and specific resources for assessment 

Resource implications for assessment include:

• a registered provider of assessment services
• competency standards
• assessment materials and tools
• suitable assessment venue and equipment
• workplace documentation
• candidate special requirements
• cost and time considerations.

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 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.

Legislative , financial and procedural requirements  may be outlined and reflected in:

• Australian Securities and Investments Commission, Australian Competition and Consumer Commission, and Foreign Investment Review Board requirements
• Australian standards
• federal and state taxation requirements
• consumer protection laws and guidelines
• court and tribunal precedents
• environmental and zoning laws affecting access security, access and property use
• freedom of information
• home building requirements
• licensing requirements
• privacy and confidentiality requirements and laws applying to owners, contractors and tenants
• public health
• quality assurance and certification requirements
• relevant common law
• relevant federal, and state or territory legislation and regulations affecting organisational operation, including:

• anti-discrimination and diversity
• environmental issues
• EEO
• industrial relations
• OHS

• relevant industry codes of practice, which may cover areas including market sector, financial transactions, taxation, environment, construction, land use, native title, zoning, utilities use (water, gas and electricity), and contract or common law
• relevant local government policies and regulations
• strata, community and company titles
• tenancy agreements
• trade practices laws and guidelines.

Services  may relate to:

• business broking
• buyer's advocacy or agent
• marketing, sale and leasing of a range of property types
• on-site residential property management
• property management for a range of property types
• residential and commercial real estate
• rural agency practice
• strata and community title management.

Clients  may include:

• agents or third parties for purchasers and vendors
• in-house staff and office contractors
• other agency staff
• owner corporations and community title groups
• potential vendors
• prospective and existing landlords
• prospective and existing tenants
• prospective purchasers
• purchasers
• vendors.

Client needs  may relate to:

• beliefs and values
• conventions of gender and sexuality
• cultural practices and observations
• cultural stereotypes
• disposable income and financial constraints
• environmental considerations
• language
• physical and mental disabilities
• religious and spiritual observances
• social conventions
• verbal and non-verbal communication.

Organisational requirements  may be outlined and reflected in:

• access and equity principles and practice guidelines
• agency policies and guidelines
• business and performance plans
• complaint and dispute resolution procedures
• ethical standards and codes of practice, such as:

• acting in principal's best interests
• misrepresentation
• over-servicing
• fixed charges rather than fee for service
• declaration of beneficial interest
• clear communication of services offered and fee for services
• clear negotiation of fees

• goals, objectives, plans, systems and processes
• legal policies and guidelines
• 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
• sales, marketing and leasing or management procedure manuals.

Relevant people  may include:

• clients
• colleagues
• consumers
• legal representatives
• members of industry associations
• supervisors.

Specialist advice  may be sought from:

• architects
• bankers and financiers
• builders
• emergency personnel
• government officials
• industry professionals and members of industry associations
• investment consultants
• OHS representatives
• planners
• real estate agents
• solicitors
• subcontractors
• supervisors and colleagues
• technical experts
• valuers.

Regulatory and industry standards  may include:

• industry standards
• legislative and statutory requirements outlined in relevant legislation, such as licensing, property, tenancy, tribunal and court
• OHS
• rules of conduct and ethical practices.

Codes of ethics and conduct  may relate to:

• acting in principal's best interests
• clear communication of services offered and fee for services
• clear negotiation of fees
• declaration of beneficial interest
• declaration of conflict of interest
• duty of care
• individual behaviour
• maintaining confidentiality
• misrepresentation
• non-discriminatory practices
• over-servicing
• fixed charges rather than fee for service
• use of organisational property.

Work practices  may relate to:

• appraising for sale or lease
• canvassing for relevant business
• listing for sale or lease
• managing property
• negotiating and executing lease arrangements
• negotiating and executing sales
• preparing for sale by auction
• promoting and marketing property
• promoting, advertising and undertaking administrative duties
• providing support within an agency
• receiving and handling monies
• undertaking routine functions within the organisation.

Specific needs  may relate to:

• beliefs and values
• conventions of gender and sexuality
• cultural stereotypes
• dress
• food and diet
• religious and spiritual observances
• social conventions
• traditional practices and observations
• verbal and non-verbal language.

Feedback  may include:

• formal and informal discussions, reviews and evaluations with:

• existing and previous clients
• peers, colleagues and managers

• information provided by others involved in a professional capacity, both internal and external to the organisation.

Risks :

• may relate to:

• changes to regulations and legislation
• client and staff satisfaction
• competition
• emergencies and disasters
• fire and security
• health and safety
• market influences
• physical, financial or human resources
• project control and cash flow
• suppliers and contractors
• time constraints

• may be identified through:

• audits and review of audit reports
• checking work area and equipment before and during work
• ongoing training
• regular housekeeping activities
• regular formal and informal consultation and meetings with colleagues
• review of OHS records, including registers of hazardous substances and dangerous goods
• workplace inspections in area of responsibility.

Limitations  may relate to:

• industry requirements
• job role and responsibilities
• legal responsibilities
• own competency level
• own interpretation of legislation, regulations and procedures
• own understanding of risk identification processes
• quality processes.

Information collection techniques  may include:

• discussions with colleagues and clients
• documentation, reports and risk management plans
• group workshops and brainstorming
• incident reporting systems
• interviews and questionnaires
• media, including newspaper, radio, television and industry magazines
• observation checklists
• organisational or industry-based surveys.

Standard documentation  may include:

• building codes
• licences
• maps
• organisational, industry and other contracts
• permits
• plans
• property marketing, sale and lease agreements or contracts
• specifications
• tenancy agreements.

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.

Professional development  strategies may include:

• coaching, mentoring and supervision
• formal and informal learning programs
• identifying and establishing new career paths
• involvement in community and industry activities
• updating and maintaining knowledge base on current issues for work and professional practice
• using existing strengths to focus future career development
• work rotation to facilitate changing work priorities.

Competency standards and other relevant benchmarks  may relate to:

• benchmarks such as:

• industry code of conduct and code of ethics
• statutory and legislative requirements related to working in the property sector

• personal and technical knowledge, skills and attitudinal aspects required to undertake day-to-day tasks and duties of the work function effectively and efficiently; specifically:

• competency standards for the property industry
• other relevant industry, cross-industry and enterprise competency standards.

Unit sector 

Property development, sales and management

Competency field 

Property operations and development