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.
Appropriate rapport relates to use of techniques that:
establish and build confidence and trust in the agency and its representatives
make the seller or buyer feel valued
promote and maintain an effective relationship with the seller or buyer.
Agency requirements may be outlined within:
access and equity policy, principles and practice
business and performance plans
ethical standards
goals, objectives, plans, systems and processes
legal and organisational policies and guidelines
mission statements and strategic plans
OHS policies, procedures and programs
privacy and confidentiality requirements
quality and continuous improvement processes and standards
quality assurance and procedures manuals, including sales and client liaison procedure manuals.
Appropriate interpersonal communication techniques may include:
active listening
providing an opportunity for the buyer or seller to clarify understanding of the sales process
soft questioning and seeking feedback from the seller or buyer to confirm own understanding of their needs and expectations
summarising and paraphrasing to check understanding of seller or buyer's message
using appropriate body language.
Information may include:
advantages of various purchases and purchasing options
seller's views on sale of business or lease of property
business profile portfolio

levels of interest in business
packaging and presentation of sales proposal to the prospective seller.
Factors may include:
arranging appointments
buyer capacity
buyer credentials, including financial position
buyer entity or status
buyer needs
confidentiality agreements
involvement of third or other parties in process and negotiations
legal documentation and agreements regarding sales
seller motivation and requirements.
Action plans may include:
arrangements for obtaining deposits
arrangements for suitable inspection times
arrangements to secure seller's initial interest
arranging and facilitating a stocktake
attending to legal requirements, including preparation and exchange of required legal documents
contingency plans to accommodate changes and resolve complications
developing the terms of contract
strategies for maintaining relationships between the parties during negotiation and providing exchange of information directly or via third parties/agents
strategies to ensure time lines are met.
Potential areas of conflict may relate to:
inventory, fixtures and fittings, valuations and determining level of goodwill
involvement of agents and other parties
price
pricing structure
responsibility for future employee entitlements
sales process

time lines
transfer and transitional arrangements.
Legislative and industry requirements may include:
access and equity policy, principles and practice
business and performance plans, including organisational goals and objectives
client service policies
industrial awards
industry and agency codes of conduct and practice, and code of ethics
legislative and statutory requirements for provision of business brokerage services
legislative and statutory requirements for the sale of a business or provision of business brokerage services to sell a business
OHS policies, procedures and programs
organisational policy, guidelines and requirements
policies and procedures relating to own role, responsibility and delegation
records and information systems
reporting and communication structures
terms and conditions of employment.
Seller and buyer requirements may include:
clarification of business structure
need for quick sale
need for transparency
need to specify plant, equipment, fittings and fixtures to determine ownership
transfer of franchise agreements
transitional arrangements
use of business name.
Feedback may be collected from:
formal and informal discussions with existing and previous clients
information from potential buyers
information provided by others involved in the appraisal process, both internal and external to the organisation
market share data
sales and completion results.
Standard and special conditions may include:
additional options
assign new lease, option, site licence or variation
transfer or renewal of licences and permits
franchise agreements
intellectual property, such as business names, patents and copyrights
trademarks
domain names and email addresses
telephone and facsimile numbers.
Assisting professionals may include:
accountants
financiers and financial institutions
landlords and managing agents
legal advisers
licensed settlement agents
nominated conveyancers.

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 negotiating and executing the sale of a listed business within the context of a business brokerage. 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:
analysing sales process, buyer intentions and seller expectations
communicating and negotiating with relevant parties and monitoring the sales process to ensure successful completion of the sale of the business
documenting and distributing information to all parties pertaining to the sale
knowledge of agency practices, ethical standards and legislative requirements associated with negotiating and executing the sale of a listed business
preparing and structuring information and documents relating to the negotiation and completion of a sale.
Context of and specific resources for assessment
Resource implications for assessment include:
access to suitable resources and simulated or real opportunities to demonstrate competence
assessment instruments that may include personal planner and assessment record book
access to a registered provider of assessment services.

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 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.