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Unit of competency details

CPPREP5007 - Develop a strategic business plan in the property industry (Release 1)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to CPPDSM5012A - Develop a strategic business plan in the real estate industrySupersedes and is equivalent to CPPDSM5012A Develop a strategic business plan in the real estate industry. 20/Mar/2019

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


Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080301 Business Management  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080301 Business Management  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 CPPDSM5012A Develop a strategic business plan in the real estate industry.

Updated to the Standards for Training Packages.

Application

This unit specifies the skills and knowledge required to develop a business strategy to position the property agency in the property market.

It includes identifying and analysing business opportunities and potential demand for agency services, and establishing business goals and objectives.

The unit applies to industry professionals in the property industry.

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 what needs to be done to demonstrate achievement of the element.

1. Analyse business opportunities in the property market.

1.1 Analyse sources of information about the property market and business environment to determine both immediate and ongoing business opportunities.

1.2 Complete cost–benefit analysis of property information to determine the viability of opportunities.

2. Prepare for potential demand for agency services.

2.1 Analyse available information to develop agency property market profile.

2.2 Estimate demand for agency services and develop potential client profile.

2.3 Determine resources to service projected demand and include in an overall cost–benefit analysis.

2.4 Establish agency marketing positioning strategy.

2.5 Document range of services to be provided with associated service fees and charges.

3. Establish business goals and objectives.

3.1 Determine business goals and identify activities to achieve projected share of the property market.

3.2 Conduct break-even analysis of short- and long-term agency viability to ensure cash flow.

3.3 Determine performance benchmarks.

4. Review business strategies.

4.1 Develop strategic directions within the business plan.

4.2 Use agency business plan to evaluate agency business performance.

Foundation Skills

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

Unit Mapping Information

Supersedes and is equivalent to CPPDSM5012A Develop a strategic business plan in the real estate industry.

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 and is equivalent to CPPDSM5012A Develop a strategic business plan in the real estate industry.

Updated to the Standards for Training Packages.

Performance Evidence

To demonstrate competency in this unit, a person must develop and evaluate a three-year strategic business plan for a property agency.

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 impacting on agency business planning
  • reasons for, and benefits of, business planning
  • ethical considerations in property agency business planning
  • sources of information about the property market and business environment
  • processes for:
  • collating and analysing information about the property market and business environment
  • determining the financial viability of opportunities
  • conducting and applying break-even analyses
  • estimating demand for services in:
  • property management
  • property sales
  • other services
  • developing and establishing agency marketing positioning strategies
  • developing strategic directions
  • preparing and documenting business plans
  • determining and setting business goals and objectives:
  • goals, objectives, plans, systems and processes
  • short-, medium- and long-term goals
  • client needs and marketing projections
  • proposed size and scale of the business
  • market focus of the business
  • types of business planning:
  • feasibility studies
  • strategic
  • operational
  • financial planning
  • content of business plans:
  • assumptions underlying the business plan
  • details of ownership and management
  • financial plan
  • organisational and operational arrangements
  • business opportunities
  • proposed size and scale of the agency
  • resources required and available
  • sources of funding
  • specialist services and sources of advice that may be required
  • staffing
  • market focus and marketing of the agency
  • stages in business development
  • principles of risk management relevant to business planning.

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 materials and equipment meeting the operational requirements for a property agency, including:

  • geographic location and detailed description of the property agency
  • comprehensive property market and business environment information relating to the property agency
  • comprehensive strategies, policies, procedures, forms and records
  • equipment, communication and data access and storage technology required to develop a strategic business plan in the property industry.

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