CPPREP4105 Sell property

Release: 1

CPPREP4105 Sell property

Modification History

Release 1	This version first released with CPP Property Services Training Package Release 8.0. Supersedes but is not equivalent to CPPDSM4017A Negotiate effectively in property transactions, CPPDSM4021A Sell and finalise sale of rural property by private treaty, CPPDSM4022A Sell and finalise the sale of property by private treaty, CPPDSM4067A Plan for and complete sale of rural property by auction and CPPDSM4078A Sell rural property by tender. Merged to reduce duplication. Updated to the Standards for Training Packages.

Application

This unit specifies the skills and knowledge required to sell property by methods including private treaty, auction and other negotiations.

It includes presenting property for sale, negotiating sales between vendors and buyers, and facilitating completion of contracts.

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	Prepare property for sale.	1.1	Examine and apply legislative requirements and ethical standards relating to the sale of property.
1.2	Provide recommendations to vendor about property presentation to maximise buyer interest.
1.3	Verify that contract and supporting documents are available for potential buyers.
1.4	Identify potential risks to vendor, prospective buyers and agent associated with property inspection, and propose control measures.
1.5	Plan and facilitate property inspection that meets vendor and buyer needs.
1.6	Record inspection details.
1.7	Discuss buyer feedback with vendor and make recommendations as required.
2	Complete property sale by negotiation.	2.1	Negotiate offer with buyer and vendor, including terms and conditions, according to agency practice and legislative requirements, and seek specialist advice as required.
2.2	Confirm deposit requirements.
2.3	Facilitate completion of sale and deposit.
2.4	Complete documentation as required.
3	Complete sale of property by auction.	3.1	Plan auction processes, including day of auction.
3.2	Collate documentation for auction day.
3.3	Facilitate final inspection of property and respond to buyer enquiry.
3.4	Assist bidders in bidding processes
3.5	Negotiate with buyer and vendor when a property is passed in.
3.6	Communicate with under-bidders.
3.7	Complete documentation.
3.8	Complete follow-up procedures after auction according to agency practice, ethical standards and legislative requirements.
4	Conclude sale of property.	4.1	Facilitate pre-settlement processes.
4.2	Plan for contingencies that may affect the completion of sale.
4.3	Complete settlement day processes.
4.4	Confirm settlement has concluded and complete post-settlement processes.
4.5	Update records and databases to record sales and inform future prospecting activities.
5	Evaluate sales process and identify opportunities for future business.	5.1	Complete post-sale activities.
5.2	Evaluate vendor and buyer satisfaction.
5.3	Update records and databases to inform future prospecting activities.

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:

CPPDSM4017A Negotiate effectively in property transactions

CPPDSM4021A Sell and finalise sale of rural property by private treaty

CPPDSM4022A Sell and finalise the sale of property by private treaty

CPPDSM4067A Plan for and complete sale of rural property by auction

CPPDSM4078A Sell rural property by tender.

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