Modification History
Not Applicable
Unit Descriptor
Unit descriptor |
This unit of competency specifies the outcomes required to monitor the ongoing performance of a property or facility portfolio. It requires the ability to provide advice and recommendations to the client based on an accurate analysis of investment performance. 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 monitoring the ongoing performance of a property or facility 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 performance requirements . |
1.1 Performance requirements are identified in consultation with relevant people according to organisational requirements . 1.2 Client needs and expectations are accurately assessed and clarified using appropriate research and survey techniques and consultative processes . 1.3 Source documents and legislative requirements are obtained and assessed according to organisational requirements to ensure that information is accurate and reliable. 1.4 Situations requiring specialist advice are identified and assistance is sought as required according to organisational procedures. |
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2 Monitor performance . |
2.1 Performance of portfolio is regularly monitored to ensure it meets client objectives and relevant organisational and legislative requirements. 2.2 Assessment processes are designed which detail the assessment method that will accurately reflect client needs and organisational requirements. 2.3 Trends and market conditions are identified and evaluated against industry benchmarks to determine performance of portfolio. 2.4 Variations in performance expectations are identified and explained to relevant people. 2.5 Reliable methods for assessing performance are used according to organisational requirements, making efficient use of time and resources. |
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3 Provide advice and recommendations . |
3.1 Clients are provided with clear advice and recommendations on whether performance of portfolio meets their identified needs and expectations. 3.2 Advice and recommendations are supported by verifiable evidence and are consistent with monitoring objectives and client requirements. 3.3 Advice and recommendations are presented in an appropriate format, style and structure using business equipment and technology . 3.4 Feedback on suitability and sufficiency of advice and recommendations is obtained from relevant people. 3.5 Information is securely maintained with due regard to client confidentiality, and 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 monitoring the ongoing performance of a property or facility 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.
Performance may relate to: |
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Relevant people may include: |
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Organisational requirements may be outlined and reflected in: |
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Clients may include: |
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Client needs and expectations may relate to: |
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Consultative processes may include: |
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Source documents may include: |
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Legislative requirements may be outlined and reflected in: |
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Specialist advice may be sought from: |
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Performance of portfolio may be influenced by: |
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Market conditions may relate to: |
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Industry benchmarks may include: |
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Recommendations may include: |
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Business equipment and technology may include: |
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Feedback may be obtained from: |
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Unit Sector(s)
Unit sector |
Property development, sales and management |
Competency field
Competency field |
Property operations and development |