Modification History
Not Applicable
Unit Descriptor
Unit descriptor |
This unit of competency specifies the outcomes required to source and interpret legislation affecting real estate operations. It includes identifying and applying statutory interpretation techniques, identifying and tracking changes to relevant real estate legislation and industry codes of conduct and maintaining appropriate records. The unit may form part of the licensing requirements for persons engaged in real estate activities 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 licensed real estate agents and authorised representatives and the requirements for them to identify, interpret and apply legislation and industry codes of conduct affecting real estate operations. |
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 Identify legal principles and legislative requirements affecting real estate operations . |
1.1 Legal framework in which real estate agencies operate is identified. 1.2 Components of statute law and their relationships are identified with respect to their application to real estate practice. 1.3 Source documents for legislation and regulations relevant to the provision of real estate agency services are identified and accessed. |
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2 Interpret legislative requirements affecting real estate operations . |
2.1 Structure of real estate legislation and regulations and the effect on their interpretation are identified. 2.2 Common interpretation problems with real estate legislation and regulations are identified. 2.3 Rules and techniques for interpreting real estate legislation and regulations are identified and applied. |
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3 Identify changes to legislation and regulations affecting agency operations . |
3.1 Processes that lead to changes in real estate legislation and regulations are identified. 3.2 Source documents for amendment legislation relevant to the provision of real estate agency services are identified and accessed. 3.3 Techniques for tracking amendments to real estate legislation and regulations are identified and applied. 3.4 Implications of changes to legislative and regulatory requirements are identified and addressed in line with agency practice. 3.5 Strategies for identifying amendments to legislation and regulations are implemented. 3.6 Changes to legislative and regulatory requirements are communicated to appropriate people in line with agency policy. |
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4 Comply with relevant industry codes . |
4.1 Industry codes of conduct are sourced and accessed. 4.2 Relationship between industry codes of conduct and legislative requirements are identified. 4.3 Key principles and responsibilities of industry codes of conduct are interpreted and applied to own work in line with agency practice. 4.4 Personal ethical behaviour demonstrates a commitment to comply with industry codes of conduct. |
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5 Maintain records of legislation and industry codes . |
5.1 Agency processes and the personnel responsible for monitoring and communicating changes to legislation and industry codes of conduct are identified. 5.2 Relevant records of legislation and industry codes of conduct are maintained. |
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 case studies and practical demonstration of applying legal principles, legislative and regulatory requirements and codes of practice to real estate operations. 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. |
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.
Legal framework may include: |
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Components of statute law may include: |
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Legislation and regulations may include: |
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Structure of real estate legislation and regulations may include: |
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Common interpretation problems may include: |
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Rules and techniques for interpreting real estate legislation and regulations may include: |
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Processes may include: |
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Source documents may include: |
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Techniques for tracking amendments may include: |
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Appropriate people may include: |
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Industry codes of conduct may relate to: |
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Relevant records may relate to: |
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Unit Sector(s)
Unit sector |
Property development, sales and management |
Competency field
Competency field |
Real estate |