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Unit of competency details

CPPREP4171 - Represent buyer in sales process (Release 1)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to CPPDSM4001A - Act as a buyer's agentSupersedes and is equivalent to CPPDSM4001A Act as a buyer’s agent. 20/Mar/2019

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


Training packages that include this unit

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/Mar/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 and is equivalent to CPPDSM4001A Act as a buyer’s agent.

Updated to the Standards for Training Packages.

Application

This unit specifies the skills and knowledge required to confirm buyer needs and represent buyers in purchasing property.

It includes developing a buyer brief and sourcing, inspecting and reporting on properties.

The unit applies to industry professionals acting on behalf of principals in real estate.

State or territory licensing requirements may apply to this unit.

Pre-requisite Unit

Nil

Unit Sector

Elements and Performance Criteria

Elements describe the essential outcomes.

Performance criteria describe what needs to be done to demonstrate achievement of the element.

1. Prepare buyer brief.

1.1 Establish buyer needs and preferences for type, location and price range of property.

1.2 Determine buyer capacity to buy and their access to finance.

1.3 Explain to buyer the role and responsibilities of a buyers’ agent.

1.4 Prepare buyer brief.

1.5 Prepare and complete agreement with buyer according to legislative requirements.

2. Source properties.

2.1 Research and list properties that meet buyer brief.

2.2 Assess properties against buyer brief and prepare a short list of suitable properties.

2.3 Obtain instructions from buyer about which properties to investigate further.

3. Inspect properties and prepare report.

3.1 Inspect properties with or without buyer.

3.2 Assess and rank each property against buyer brief.

3.3 Request further information and contract documentation for selected properties.

3.4 Prepare a report for buyer that details suitability, type and conditions of sale for recommended properties.

Foundation Skills

Unit Mapping Information

Supersedes and is equivalent to CPPDSM4001A Act as a buyer’s agent.

Links

Companion volumes to this training package are available at the VETNet website - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=7e15fa6a-68b8-4097-b099-030a5569b1ad

 

Assessment requirements

Modification History

Release 1

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

Supersedes and is equivalent to CPPDSM4001A Act as a buyer’s agent.

Updated to the Standards for Training Packages.

Performance Evidence

To demonstrate competency in this unit, a person must, on each of two separate occasions, prepare a buyer brief and complete a short list of a minimum of two suitable properties based on the buyer brief and inspect the two properties and prepare a report for the buyer.

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:

  • Commonwealth and state or territory legislation and local government regulations relevant to operating as a buyers’ agent
  • disclosure requirements relevant to properties, including of material facts
  • ethical standards and regulatory requirements relating to recommending properties for purchase
  • protocols to follow when preparing recommendation for purchase of properties
  • client expectations:
  • comprehensive information about recommended properties
  • method of sale and payments
  • time frame for sales
  • contract conditions
  • content and purpose of different types of listing agreements
  • legislative requirements applying to listing agreements.

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:

  • buyer’s agency workplace and business documentation
  • sufficient documentation for a range of properties to allow for creation of purchasing recommendations
  • role description and information for a person participating in role-play exercises as the client for a buyers’ agent
  • equipment and information required to prepare documentation.

Links

Companion volumes to this training package are available at the VETNet website - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=7e15fa6a-68b8-4097-b099-030a5569b1ad