Unit of competency Outline

Date retreived
22/07/2026 8:46 AM AWST

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Sell property

Sell property

Unit of competency
National Code
CPPREP4105
State Code
OAQ45
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
55
Description
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.
Notes
Elements and Performance Criteria
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.
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