Unit of competency
Modification History
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Release 1 |
This version first released with CPP Property Services Training Package Release 8.0. Supersedes but is not equivalent to CPPDSM4053A List business for sale and CPPDSM4069A Promote and market listed business. Merged to reduce duplication. Updated to the Standards for Training Packages. |
Application
This unit specifies the skills and knowledge required to manage the business sales process while maintaining vendor privacy and confidentiality.
It includes negotiating the terms and conditions of sale, organising the execution of sales documentation, and monitoring contracts through to settlement.
It also involves administering and securing deposits and agreements and resolving issues to ensure the successful conclusion of the sale.
The unit applies to industry professionals in real estate.
State or territory licensing requirements may apply to this unit.
Pre-requisite Unit
Nil
Unit Sector
Real estate
Elements and Performance Criteria
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Elements describe the essential outcomes. |
Performance criteria describe what needs to be done to demonstrate achievement of the element. |
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1. Negotiate requirements and complete sale of business. |
1.1 Maintain communication with vendor and during the sales process. 1.2 Identify and resolve issues that may impact the successful conclusion of the sale. 1.3 Negotiate price, terms and conditions of sale of business. 1.4 Negotiate conflict or deadlocks and confirm terms with parties to the sale. 1.5 Administer and secure deposit according to legislative requirements. |
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2. Organise execution of documentation for sale of business. |
2.1 Provide disclosure documentation according legislative requirements. 2.2 Prepare sales documentation according to agency requirements. 2.3 Arrange completion of sales documentation by all parties to the sale. 2.4 Facilitate engagement of legal advisor according to type of sale and complete pre-settlement processes according to legislative requirements. |
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3. Monitor contract settlement. |
3.1 Monitor progress of contract and adherence to conditions of sale according to agency requirements. 3.2 Maintain communication with all parties to the sale to facilitate contract settlement. 3.3 Confirm settlement has concluded and complete post-settlement processes. |
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4. Review and complete post-sale processes. |
4.1 Evaluate vendor and buyer satisfaction to establish future business opportunities. 4.2 Update databases to inform future prospecting activities. |
Foundation Skills
This section describes the language, literacy, numeracy and employment skills essential to performance in this unit but not explicit in the performance criteria:
- writing skills to complete agency documentation for the sale of businesses
- reading skills to interpret agreements and contracts for the sale of businesses
- numeracy skills to calculate terms of sale and deposits.
Unit Mapping Information
No equivalent unit.
Supersedes but is not equivalent to:
- CPPDSM4053A List business for sale
- CPPDSM4069A Promote and market listed business.
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
