CPPREP5007 Develop a strategic business plan in the property industry

Release: 1

CPPREP5007 Develop a strategic business plan in the property industry

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