Modification History
Not Applicable
Unit Descriptor
Unit descriptor |
This unit of competency specifies the outcomes required to analyse client objectives and formulate a relevant strategy to enable the right market mix of tenants to be targeted. It requires the ability to determine industry trends, document recommendations and select and implement a suitable marketing strategy. 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
Application of the unit |
This unit of competency supports the work of those involved in analysing client objectives and formulating relevant strategies to enable the right market mix of tenants to be targeted. |
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 |
||||
1 Determine tenancy mix requirements . |
1.1 Client preferences, needs and expectations are identified according to organisational requirements . 1.2 Information is gathered and analysed to determine market conditions according to organisational requirements. 1.3 Business plans are examined to determine short and long-term goals according to organisational requirements. 1.4 Tenancy mix objectives and time lines are negotiated and agreed in consultation with relevant people . |
||||
2 Develop tenancy mix strategy . |
2.1 Segmentation criteria are chosen and applied to determine tenancy mix that meets client and building capacity requirements . 2.2 Tenancy mix is sought that adds value to property and encourages effective competition according to income projections. 2.3 Draft tenancy mix strategy is prepared and distributed to relevant people to obtain feedback according to organisational requirements. 2.4 Tenancy mix strategy is reviewed to ensure compliance with relevant regulations and legislative requirements . 2.5 Marketing options that best meet requirements of tenancy mix strategy are identified and discussed with relevant people according to organisational requirements. |
||||
3 Implement tenancy mix strategy . |
3.1 Lease and tenancy contracts are documented and summarised according to organisational requirements. 3.2 Market conditions and industry trends are assessed to determine appropriate benchmarks. 3.3 Tenancy mix strategy is monitored and variances are recognised and documented according to organisational requirements. 3.4 Contingency plans are prepared and implemented according to organisational and legislative requirements. |
||||
4 Review tenancy mix strategy . |
4.1 Tenancy mix strategy is reviewed and evaluated in consultation with client and other relevant people using appropriate communication strategies . 4.2 Systematic review processes are established and evaluation methods are identified and used to evaluate strategy processes and outcomes. 4.3 Evaluation results are prepared in required format, style and structure and presented to relevant people within agreed timeframes. 4.4 Recommendations for improvement of strategy are presented to relevant people according to organisational procedures. 4.5 Business equipment and technology are used to maintain documentation securely and according to legislative and organisational procedures. |
Required Skills and Knowledge
REQUIRED SKILLS AND KNOWLEDGE |
|
This section describes the essential skills and knowledge and their level, required for this unit. |
|
Required skills :
|
|
Required knowledge and understanding :
|
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 analysing client objectives and formulating a relevant strategy to enable the right market mix of tenants to be targeted. 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:
|
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 activity and must include evidence relating to each of the 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.
Clients may include: |
|
Client needs and expectations may relate to: |
|
Organisational requirements may be outlined and reflected in: |
|
Information that may be used to determine market profiles and conditions may include: |
|
Market conditions may relate to: |
|
Tenancy mix may cover: |
|
Relevant people may include: |
|
Segmentation criteria to be used may include: |
|
Building capacity requirements may include: |
|
Feedback may include: |
|
Regulations affecting tenancy mix strategies may include: |
|
Legislative requirements may be outlined and reflected in: |
|
Marketing options may include: |
|
Communication strategies may include: |
|
Evaluation methods could be qualitative or quantitative and may include: |
|
Business equipment and technology may include: |
|
Unit Sector(s)
Unit sector |
Property development, sales and management |
Competency field
Competency field |
Property operations and development |