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Unit of competency details

CPPREP4103 - Establish vendor relationships (Release 1)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes CPPDSM4056A - Manage conflict and disputes in the property industrySupersedes but is not equivalent to CPPDSM4056A Manage conflict and disputes in the property industry, CPPDSM4060A Negotiate sale and manage sale to completion or settlement. 20/Mar/2019
Supersedes CPPDSM4060A - Negotiate sale and manage sale to completion or settlementSupersedes but is not equivalent to CPPDSM4060A Negotiate sale and manage sale to completion or settlement, CPPDSM4056A Manage conflict and disputes in the property industry. 20/Mar/2019

Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 21/Mar/2019

Companion volumes:
Unit of competency Assessment requirements

Delivery:
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Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080503 Real Estate  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080503 Real Estate  21/May/2019 
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Unit of competency

Modification History

Release 1

This version first released with CPP Property Services Training Package Release 8.0.

Supersedes but is not equivalent to CPPDSM4056A Manage conflict and disputes in the property industry and CPPDSM4060A Negotiate sale and manage sale to completion or settlement.

Merged to reduce duplication. Updated to the Standards for Training Packages.

Application

This unit specifies the skills and knowledge required to establish vendor relationships to support property sales.

It includes planning activities to achieve property listings, confirming vendor needs and expectations, preparing and conducting a listing presentation, completing a listing agreement and planning for ongoing communication and records management associated with the vendor relationship.

This unit applies to people currently working in or seeking to work in real estate who apply a knowledge of legislative and compliance requirements, ethical standards and consumer preferences to manage real estate operations.

State or territory licensing requirements may apply to this unit.

Pre-requisite Unit

Nil

Unit Sector

Real estate

Elements and Performance Criteria

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1

Plan and review prospecting methods.

1.1

Analyse and document prospecting methods suitable for property sales.

1.2

Identify methods appropriate to target market and personal and agency brand to create a prospecting plan.

1.3

Apply prospecting plan to create opportunities and interest in establishing vendor–agency relationships.

1.4

Examine prospecting activities to build agency database.

2

Confirm vendor requirements.

2.1

Provide information to potential vendor about scope and services of agency.

2.2

Establish and record vendor profile, preferences and expectations.

2.3

Inspect, confirm and record property details.

3

Present property listing.

3.1

Plan listing presentation with reference to property appraisal report.

3.2

Collate resources to support listing presentation plan.

3.3

Present property listing.

3.4

Complete listing documentation according to legislative requirements.

4

Establish communication plan.

4.1

Develop communication plan with vendor including sections for instructions and feedback on sales process.

4.2

Document communication plan.

Foundation Skills

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.

Unit Mapping Information

No equivalent unit.

Supersedes but is not equivalent to:

  • CPPDSM4056A Manage conflict and disputes in the property industry
  • CPPDSM4060A Negotiate sale and manage sale to completion or settlement.

Links

Companion volumes to this training package are available at the VETNet website - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=6f3f9672-30e8-4835-b348-205dfcf13d9b

 

Assessment requirements

Modification History

Release 1

This version first released with CPP Property Services Training Package Release 8.0.

Supersedes but is not equivalent to CPPDSM4056A Manage conflict and disputes in the property industry and CPPDSM4060A Negotiate sale and manage sale to completion or settlement.

Merged to reduce duplication. Updated to the Standards for Training Packages.

Performance Evidence

To demonstrate competency in this unit, a person must:

  • develop one prospecting plan for vendors and establish a set of criteria for evaluating the effectiveness of this plan
  • prepare and deliver one listing presentation that:
  • refers to a property appraisal report
  • reflects the scope of vendor expectations
  • includes proposed method of presentation
  • includes a summary report on proposed method of presentation and proposed communication plan, and resources to support listing presentation
  • complete a listing agreement that complies with legislative requirements.

In doing this, the person must meet the performance criteria for this unit.

Knowledge Evidence

To be competent in this unit, a person must demonstrate knowledge of:

  • purpose of prospecting activities
  • strategies and methods for attracting property listings, and their impact on agency and personal brand
  • processes and methods of sale
  • communication techniques for establishing and maintaining agency–client relationships including responding to client complaints
  • vendor expectations and preferences:
  • method of sale
  • timeframe for sale
  • property marketing
  • conditions to of sale
  • communication
  • role of agent and agency in listing, marketing and selling property, including agency fees, charges and conditions, documents and record keeping
  • ethical and regulatory standards associated with property sales:
  • disclosures
  • privacy and confidentiality
  • conflict of interest
  • agency practices in relation to marketing and communication
  • content and purpose of different types of listing agreements
  • legislative requirements applying to listing agreements
  • format and content of a listing kit
  • techniques for listing presentations
  • real estate agency fees, charges and conditions
  • legislation relating to sale of property in the state or territory of operation.

Assessment Conditions

Assessors must satisfy the requirements for assessors listed in the Standards for Registered Training Organisations.

Assessment must be conducted in the workplace or in a simulated workplace environment.

Assessors are responsible for ensuring that the person demonstrating competency has access to:

  • real estate procedures, forms and documents, including agreements
  • legislation relating to sale of property in the state or territory of operation.

Links

Companion volumes to this training package are available at the VETNet website - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=6f3f9672-30e8-4835-b348-205dfcf13d9b

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