Elements and Performance Criteria

RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording in the performance criteria is detailed below. Add any essential operating conditions that may be present with training and assessment depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts.
Investment may include:
concepts and plans
strategies and placement of capital in property for investment
productive use of property and assets
customer service outcomes.
Negotiated refers to negotiation techniques that should include:
clearly presenting options and consequences
control of tone of voice and body language
demonstrating flexibility and willingness to negotiate
using positive, confident and cooperative language
using language and concepts appropriate to the people involved
using strategic questioning and listening to gather information and direct the focus of people involved
using summarising of positions and agreements to move understanding.
Relevant people may include:
agents
clients
company directors
consultants, including legal, banking, financial architectural, engineering, surveying, environmental, valuation, planning and insurance

governing body
government personnel
management and colleagues
members of industry associations
property or facilities owners and managers.
Communication strategies may relate to:
clear and concise use of technical terminology
direct line supervision paths
face-to-face meetings
lateral supervision paths
organisational communication protocols and procedures
organisational networks
telephone, facsimile and written communication.
Analysis:
may be:
explorative, descriptive, causative or predictive
quantitative and qualitative
may include:
basic statistical analysis
critical analysis
mathematical calculations
problem solving.
Relevant information may include information relating to:
financial, accounting and taxation records
insurances
leases
legal information relating to the property, including current claims, court actions, trade mark issues, prior charges and current ownership structures
licences
maintenance contracts
ownership, operational and adjoining owners' agreements
plans, photos and other property documentation
plant and equipment

property details
property investment feasibility study
remedial and contamination issues
research into investment market, demographics, competition and development proposals
technical issues, including:
building specifications
quantity surveyor's reports
statements of defects
building permits
structural, mechanical, electrical, hydraulic and fire services and protection
air conditioning and ventilation
refrigeration
vertical transport
asbestos
valuations.
Strategic context may include:
competitive
cultural
financial
legal aspects of organisational functions
operational
political
social.
Consultants may be sourced from the following sectors:
architectural
banking
engineering
environmental
financial
insurance
legal
planning
surveying
valuation.
Organisational requirements may be outlined and reflected in:
access and equity principles and practice guidelines
business and performance plans
complaint and dispute resolution procedures
goals, objectives, plans, systems and processes
legal and ethical requirements and codes of practice
mission statements and strategic plans
OHS policies, procedures and programs
policies and procedures in relation to client service
quality and continuous improvement processes and standards
quality assurance and procedure manuals.
Legislative requirements may be outlined and reflected in:
Australian standards
general duty of care to clients
home building requirements
privacy requirements
relevant federal, and state or territory legislation that affects organisational operation, including:
anti-discrimination and diversity
environmental issues
EEO
industrial relations
OHS
relevant industry codes of practice covering the market sector and industry, financial transactions, taxation, environment, construction, land use, native title, zoning, utilities use (water, gas and electricity), and contract or common law
strata, community and company titles
tenancy agreements
trade practices laws and guidelines.
Due diligence means:
the process by which an investor, lawyer, consistent auditor or other qualified person, verifies the accuracy of data provided by another organisation.
Due diligence review may relate to:
financial issues, such as taxation and accounting
legal issues, such as current claims, court actions, trademark issues and prior charges
legal searches
planning and development
property documentation, including agreements, contracts, leases, valuations, authorities, plans and maintenance
research conducted on such things as demographics and competition
technical issues
tenancy analysis
town planning.
Feedback may include:
formal and informal discussions, reviews and evaluations with:
colleagues and directors
existing and previous clients
information provided by others involved in a professional capacity, both internal and external to the organisation.
Specialist advice may be sought from:
clients and stakeholders
company directors
governing body
management and colleagues
relevant consultants, including legal, banking, financial, architectural, engineering, surveying, environmental, valuation, planning and insurance.
Evaluation methods could be qualitative or quantitative and may include:
checklists
cost data analysis
expert and peer review
interviews
observation
questionnaires
review of quality assurance data.

EVIDENCE GUIDE
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, the range statement and the Assessment Guidelines for this Training Package.
Overview of assessment
This unit of competency could be assessed through practical demonstration of managing the development and performance of a property investment contract. Targeted written (including alternative formats where necessary) or verbal questioning to assess the candidate's underpinning knowledge would provide additional supporting evidence of competence. The demonstration and questioning would include collecting evidence of the candidate's knowledge and application of ethical standards and relevant federal, and state or territory legislation and regulations. This assessment may be carried out in a simulated or workplace environment.
Critical aspects for assessment and evidence required to demonstrate competency in this unit
A person who demonstrates competency in this unit must be able to provide evidence of:
interpreting and applying applicable legal, ethical and organisational requirements
evaluating the property investment contract against contract specifications, due diligence and feasibility outcomes and documenting conclusions for future strategic goals and policies
knowledge of organisation's practices, ethical standards and legislative requirements associated with managing the development and performance of a property investment contract
preparing a property investment contract within agreed timeframes and ensuring the interests of the client are protected
undertaking a due diligence review against feasibility study and negotiating required variations to study or contract
using effective communication strategies to formulate property investment contract specifications.
Context of and specific resources for assessment
Resource implications for assessment include:
a registered provider of assessment services
assessment materials and tools
candidate special requirements
competency standards
cost and time considerations
suitable assessment venue and equipment
workplace documentation.
Where applicable, physical resources should include equipment modified for people with disabilities.
Access must be provided to appropriate learning and/or assessment support when required.
Assessment processes and techniques must be culturally appropriate, and appropriate to the language and literacy capacity of the candidate and the work being performed.
Validity and sufficiency of evidence require that:
competency will need to be demonstrated over a period of time reflecting the scope of the role and the practical requirements of the workplace
where the assessment is part of a structured learning experience the evidence collected must relate to a number of performances assessed at different points in time and separated by further learning and practice with a decision of competence only taken at the point when the assessor has complete confidence in the person's competence
all assessment that is part of a structured learning experience must include a combination of direct, indirect and supplementary evidence
where assessment is for the purpose of recognition (RCC/RPL), the evidence provided will need to be current and show that it represents competency demonstrated over a period of time
assessment can be through simulated project-based activity and must include evidence relating to each of the elements in this unit.
In all cases activity and must include evidence relating to each of the where practical assessment is used it will be combined with targeted questioning to assess the underpinning knowledge. Questioning will be undertaken in such a manner as is appropriate to the language and literacy levels of the candidate and any cultural issues that may affect responses to the questions, and will reflect the requirements of the competency and the work being performed.