Modification History
Not Applicable
Unit Descriptor
Unit descriptor |
This unit of competency specifies the outcomes required to market all types of property and businesses for sale. It includes planning, developing a marketing plan, preparing marketing materials, implementing marketing activities, and reviewing and reporting on marketing plans and activities. 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 real estate representatives involved in marketing all types of properties and businesses for sale. |
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 Develop marketing plan for property . |
1.1 Potential buyer profile and benefits of effectively marketing property for sale are discussed with seller. 1.2 Strategies and timeframe for marketing property, including possible marketing activities , are discussed with seller. 1.3 Costs of different marketing strategies and activities are discussed with seller. 1.4 Marketing plan for property is prepared and presented to seller in line with agency practice. 1.5 Marketing plan, including marketing activities and budget, is agreed with seller. |
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2 Check marketing materials . |
2.1 Marketing materials that reflect agreed property and agency marketing plan are developed within agreed budget and timeframes. 2.2 Marketing materials are checked for accuracy and compliance with agency and legislative requirements. |
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3 Implement marketing activities . |
3.1 Persons involved in marketing property for sale are briefed on their roles and responsibilities to ensure success of marketing activities. 3.2 Marketing activities are implemented in line with agreed marketing plan and budget. 3.3 Responsibility is assigned for ongoing monitoring of marketing activities . 3.4 Marketing activities are implemented that comply with agency practice, ethical standards and legislative requirements. 3.5 Seller is kept informed of progress of marketing activities according to agency practice and legislative requirements. |
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4 Review and report on marketing activities and plan . |
4.1 Marketing activities and plan are reviewed against aims and objectives of marketing plan. 4.2 Feedback on outcomes of marketing activities is sought using reliable methods and verifiable data according to agency practice. 4.3 Need for alternative marketing activities and adjustments to marketing plan are assessed in consultation with relevant people if property proves difficult to sell . 4.4 Effectiveness of planning and marketing processes is assessed to identify possible improvements in future activities. 4.5 Costs and time lines are analysed to evaluate and improve future marketing initiatives. 4.6 Conclusions are prepared from verifiable evidence and advice is provided on future marketing initiatives. |
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 marketing properties and businesses for sale. 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.
Buyer profile may include: |
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Marketing activities may include: |
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Marketing plan may include: |
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Persons may include: |
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Monitoring of marketing activities may include: |
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Information on progress may include: |
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Strategies if property proves difficult to sell may include: |
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Verifiable evidence may include: |
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Unit Sector(s)
Unit sector |
Property development, sales and management |
Competency field
Competency field |
Real estate |