Modification History
Not Applicable
Unit Descriptor
Unit descriptor |
This unit of competency specifies the outcomes required to negotiate and execute the sale of listed businesses within the context of a business brokerage. It requires the ability to provide information to clients, negotiate and complete sales, draft and distribute contracts and encourage sellers, landlords and buyers to accept appropriate offers. The knowledge requirements for this unit include interpersonal communication and negotiation techniques, sales completion strategies and legislative requirements. The unit may form part of the licensing requirements for persons engaged in business broking in those States and Territories where business broking is a regulated activity. |
Application of the Unit
Application of the unit |
This unit of competency supports the work of those involved in providing business broking services, particularly negotiating and executing sales of listed businesses. |
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 Qualify buyer . |
1.1 Appropriate rapport is established with buyers and their enquiries are handled promptly to enable high quality service delivery according to agency requirements . 1.2 Buyer requirements are clarified and assessed using appropriate interpersonal communication techniques . |
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1.3 Potential buyers/lessees are provided with information about available and prospective listings and assisted to find the listing that best matches their requirements. |
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2 Provide information to clients . |
2.1 Appropriate rapport is established with sellers/buyers and their enquiries are handled promptly to enable high quality service delivery according to agency requirements. 2.2 Seller/buyer requirements are clarified and assessed using appropriate interpersonal communication techniques. 2.3 Preparation and presentation of documents are discussed with seller to assist in best promoting business for sale. 2.4 Buyers and sellers are encouraged to seek clarification as required and are assisted to make an informed choice. |
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3 Manage negotiation . |
3.1 Factors that may affect success of a sale are identified and accounted for in negotiations with sellers and buyers. 3.2 Relationships between the parties are managed according to agency requirements. 3.3 Action plans are implemented to assist in moving negotiations through to successful completion. 3.4 Potential areas of conflict between seller and buyer are managed and resolved to the satisfaction of parties to facilitate sale/lease. 3.5 Documentation for impending sale/lease is completed with due consideration of legislative and industry requirements and seller and buyer requirements . |
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4 Execute contract . |
4.1 Seller/landlord is provided with clear information about offer and encouraged to make an informed and positive choice regarding the sale/lease of the business. 4.2 Deposits are secured and appropriate arrangements are made to administer the deposit on subsequent settlement. |
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4.3 Arrangements for exchange of contracts are completed according to agency and legislative requirements. 4.4 Feedback is collected and provided to personnel and agencies involved in the sale according to legislative requirements. 4.5 Recommendations on future directions of sales processes and completion rates are made based on verifiable evidence. |
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5 Manage contract to settlement . |
5.1 Standard and special conditions are completed in line with agency and legislative requirements. 5.2 Progress of contract is monitored in line with agency practice. 5.3 Progress of assisting professionals is monitored 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 negotiating and executing the sale of a listed business within the context of a business brokerage. 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:
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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:
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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.
Appropriate rapport relates to use of techniques that: |
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Agency requirements may be outlined within: |
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Appropriate interpersonal communication techniques may include: |
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Information may include: |
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Factors may include: |
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Action plans may include: |
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Potential areas of conflict may relate to: |
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Legislative and industry requirements may include: |
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Seller and buyer requirements may include: |
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Feedback may be collected from: |
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Standard and special conditions may include: |
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Assisting professionals may include: |
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Unit Sector(s)
Unit sector |
Property development, sales and management |
Competency field
Competency field |
Business broking |