Unit of competency Outline

Date retreived
22/07/2026 11:46 AM AWST

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Appraise property for sale or lease

Appraise property for sale or lease

Unit of competency
National Code
CPPREP4101
State Code
OAQ97
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
21/03/2019
View on TGA
State Implementation and Classification
Approved Date
03/06/2020
Field of Education
080503 - Real Estate
Original Release Date
03/06/2020
Nominal Hours
35
Description
This unit specifies the skills and knowledge required to appraise residential property for sale or lease.It includes selecting appraisal method/s and recommending appraisal price of property for sale or lease.This unit does not include establishing a formal property valuation.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.
Notes
Elements and Performance Criteria
1 Prepare for property appraisal.
  • 1.1 Identify and apply regulatory and legislative requirements of the property appraisal process.
  • 1.2 Confirm and document client requirements and expectations for property appraisal.
  • 1.3 Obtain and document agreement to proceed with property appraisal.
  • 1.4 Confirm and record property ownership, attributes and features relevant to property to be appraised.
2 Research and analyse property market conditions and property attributes.
  • 2.1 Select appraisal methods suitable for the property type and location.
  • 2.2 Inspect property and location.
  • 2.3 Identify and document market conditions and indicators for sale or lease price.
  • 2.4 Collate source documents and information to support property appraisal.
  • 2.5 Analyse information to determine market indicators and expected price range or rental value for property.
  • 2.6 Identify sources of specialist advice to assist appraisal as required.
3 Prepare and present appraisal report.
  • 3.1 Prepare property appraisal report.
  • 3.2 Present property appraisal report to client.
  • 3.3 Obtain and document feedback from client on property appraisal report.
  • 3.4 Maintain documented evidence from appraisal activities to ensure confidentiality of information.
  • 3.5 Analyse feedback from client to inform future presentations.
No information
No information
Replaces
State Code National Code Title Type
D1270 CPPDSM4025A Advise on performance of asset Unit of competency
D1248 CPPDSM4003A Appraise property Unit of competency
D1275 CPPDSM4030A Appraise rural property Unit of competency
D1257 CPPDSM4012A List property for sale Unit of competency
D1307 CPPDSM4064A Participate in research of property investment Unit of competency