Modification History
Not Applicable
Unit Descriptor
Unit descriptor |
This unit of competency specifies the outcomes required to dispose of property as part of an investment portfolio. It requires the ability to determine client requirements accurately and use effective communication methods in dealings with legal advisers and sale agents to coordinate and finalise arrangements for the disposal of property. 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 disposing of property as part of an investment portfolio. |
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 Determine disposal requirements . |
1.1 Disposal requirements are confirmed in consultation with client according to organisational requirements . 1.2 Client is informed of relevant factors that may impact on disposal of property according to organisational requirements. 1.3 Disposal method suitable for asset type is selected according to organisational requirements. 1.4 Business equipment and technology are used to access and organise relevant information according to organisational requirements. 1.5 Situations requiring specialist advice are identified and assistance is sought as required according to organisational requirements. |
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2 Arrange disposal . |
2.1 Market information is collected and evaluated to determine price according to organisational and legislative requirements . 2.2 Appropriate interpersonal techniques are used to facilitate an accurate and relevant exchange of information with relevant people . 2.3 Disposal documentation is reviewed to ensure it is accurate and meets intending purchaser, legal and organisational requirements. 2.4 Agent is appointed to facilitate completion of property disposal according to legislative and organisational requirements. |
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3 Complete disposal . |
3.1 Arrangements for sale are completed and appropriate documentation is executed according to organisational and legislative requirements. 3.2 Deposits are secured and appropriate arrangements made to account for deposit on subsequent settlement. 3.3 Feedback on disposal arrangements is sought and reviewed to determine cost-effectiveness according to organisational requirements. 3.4 Sale records are updated to reflect completion of sale and securely stored according to legislative and organisational requirements. |
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 disposal of property as part of an investment portfolio. 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:
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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. |
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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: |
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Organisational requirements may be outlined and reflected in: |
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Factors that may impact on disposal of property may relate to: |
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Disposal method may include: |
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Asset types may include: |
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Business equipment and technology may include: |
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Relevant information to disposal may include: |
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Specialist advice may be sought from: |
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Price may be determined by factors such as: |
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Legislative requirements may be outlined and reflected in: |
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Interpersonal techniques may include: |
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Relevant people may include: |
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Appropriate documentation may include: |
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Feedback may include: |
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Unit Sector(s)
Unit sector |
Property development, sales and management |
Competency field
Competency field |
Property operations and development |