Modification History
Not Applicable
Unit Descriptor
Unit descriptor |
This unit of competency specifies the outcomes required to develop and implement a marketing and sales strategy for industrial, commercial and retail property. It includes establishing seller requirements, developing a sales and marketing strategy, reviewing and reporting on the strategy, managing the sale of the property and monitoring the settlement of the sale. 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 developing and implementing marketing and sales strategies for the sale of industrial, commercial and retail properties. |
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 Establish seller requirements . |
1.1 Enquiries regarding sale of property are handled promptly to enable high quality service delivery in line with agency practice. 1.2 Appropriate rapport is established with seller. 1.3 Seller requirements are accurately identified through use of appropriate interpersonal communication skills in line with agency practice. |
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2 Develop marketing and sales strategy . |
2.1 Relevant information on property and property market is collected, collated and analysed in line with agency practice. 2.2 Characteristics of potential buyers are evaluated using available data and recognised research techniques. 2.3 Property marketing and sales objectives and strategies are developed in consultation with seller in line with agency practice. 2.4 Marketing and sales strategies are developed that detail a range of activities that accurately reflect seller instructions, ethical standards and legislative requirements . 2.5 Marketing activities and method of sale that best fit the property and potential market are selected and used to ensure maximum impact within specified markets. 2.6 Marketing and sales materials reflecting agreed strategies are developed within appropriate budgets and timeframes. 2.7 Personnel and resources required to support marketing and sales strategies are identified and prepared in line with agency practice. |
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3 Review and report on marketing and sales strategy . |
3.1 Marketing and sales activities are regularly reviewed against aims and objectives of the marketing or sales strategy. 3.2 Need for alternative marketing and sales strategies and adjustments is assessed in consultation with relevant people. 3.3 Feedback on marketing and sales strategy outcomes is sought using reliable methods and verifiable data in line with agency practice. 3.4 Reports are prepared and submitted to seller and other relevant people in line with agency practice and legislative requirements. |
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4 Manage sale of property . |
4.1 Sale process is managed in a professional manner in line with method of sale, agency practice, ethical standards and legislative requirements. |
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4.2 Mutually agreed price and conditions of sale are established and confirmed with seller and buyer. 4.3 Agency and statutory sales documentation is produced and completed in line with agency and statutory requirements for finalisation of property transaction. |
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5 Monitor settlement of sale . |
5.1 Contract is managed to settlement in line with agency practice and legislative requirements. 5.2 Documentation for agency disbursements is prepared and executed in line with agency practice and legislative requirements. |
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6 Maintain communication with seller and buyer . |
6.1 Seller and buyer confidence in agency sales and marketing activities is maintained through ongoing contact and correspondence. 6.2 Opportunities to promote agency services to seller and buyer are implemented in line with agency practice. |
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 developing and implementing a marketing and sales strategy for the sale of industrial, commercial and retail properties. 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.
Enquiries from sellers may be received through: |
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Property may include: |
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Appropriate rapport relates to use of techniques that: |
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Seller requirements may include: |
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Appropriate interpersonal communication skills may include: |
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Information on property and property market may be collected from a range of sources such as: |
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Characteristics of potential buyers may include: |
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Marketing and sales objectives may relate to: |
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Activities may include: |
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Legislative requirements may include: |
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Method of sale may include: |
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Feedback may be obtained from: |
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Agency services may include: |
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Unit Sector(s)
Unit sector |
Property development, sales and management |
Competency field
Competency field |
Real estate |