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.
Business broking services may include:
appraising businesses
listing businesses for sale
managing agency risk
merging or acquiring businesses
negotiating and executing sales
obtaining prospects for a listing
promoting and marketing listed businesses
valuing a business
working effectively in the business broking sector.
Work practices may include:
conducting appraisals
engaging clients
handling deposits for trust accounts
listing businesses
managing the business broking agency
marketing listed businesses
negotiating and executing sales
obtaining prospects for listing
providing support within the business broking agency
securing custom
undertaking routine functions within the agency.
Agency values, legislative requirements and ethical standards may include:
access and equity policy, principles and practice
business and performance plans
ethical standards
goals, objectives, plans, systems and processes
legislative and regulatory requirements
mission statements
organisational policies and guidelines
OHS policies, procedures and programs
quality and continuous improvement processes and standards
quality assurance and procedures manuals, including sales and client liaison procedure manuals
strategic plans.
Specific needs may include:
conventions of gender and sexuality
cultural stereotypes
dress
food and diet
verbal and non-verbal language
religious and spiritual observances and beliefs
social and cultural conventions

traditional practices and observations
values.
Clients may include:
agents or third parties for sellers and buyers
buyers
potential sellers
prospective sellers
sellers.
Agency and professional standards and procedures may include:
code of conduct and code of ethics
industry standards
legislative and statutory requirements outlined in relevant legislation, such as taxation, franchise and business and corporation law
OHS.
Feedback may include:
formal and informal discussions, reviews and evaluations with:
existing and previous clients
peers, staff and managers
information provided by others involved in a professional capacity, both internal and external to the organisation.
Competency standards and other relevant benchmarks may include:
all those personal and technical knowledge, skills and attitudinal aspects (competencies) required to undertake the day-to-day tasks and duties of the practitioner's work function effectively and efficiently, and specifically:
competency standards for the business broking industry
other relevant industry, cross-industry and enterprise competency standards
occupational or functional roles
organisational human resource development policies and procedures
other benchmarks, such as:
industry and agency codes of conduct and code of ethics
quality assurance standards

professional accreditation and re-accreditation requirements
statutory and legislative requirements in terms of qualification levels and business broking practice
professional bodies' competencies, codes of practice and codes of ethics.
Personal development strategies may include:
accessing internal and external short course or qualification-based training
adapting work rotation to facilitate changing personal and work priorities
coaching, mentoring and supervision
counselling
cultural awareness and sensitivity
developing improved interpersonal and technical skills
establishing new career paths
formal and informal learning programs
involvement in community activities
updating stress management abilities
maintaining and updating knowledge base on business broking issues and current context for professional practice
using existing strengths to focus future career development.
Professional networks may include:
agency networks
employee assistance programs
interest groups
other workers
peak bodies
professional networks
professional or occupational associations
regional associations
relevant committees and reference groups
tertiary and vocational education providers
trainers, teachers and academics.
Legal and procedural requirements may be included in:
anti-discrimination and diversity legislation
Australian Competition and Consumer Commission requirements
Australian Securities and Investments Commission requirements
Australian Taxation Office requirements
commercial lease legislation
consumer protection legislation
corporations legislation
court precedents
Department of Immigration and Multicultural and Indigenous Affairs requirements
financial services legislation
foreign investment legislation
Foreign Investment Review Board requirements
industrial relations
industry self-regulation or licensing requirements
insurance claims
legal status and organisational policies and guidelines
local government legislation
migration legislation
privacy and confidentiality requirements
relevant industry codes of practice
shareholder disputes
state or territory government statutes
trade practices legislation.
Financial information may include:
information relating to owner-operator income, such as owner-operator market replacement cost
source documents, such as:
bank statements
cheque butts
supplier invoices
credit and debit cards
trading information, including expenditure items relating to:
gross sales and gross profit
occupancy conditions, including net and gross rentals
level of equity and level of debt.
Appropriate persons may include:
associated service providers, such as advertising agencies, solicitors, media outlets and taxation consultants
branches of own or associated agencies
local community, regional and national organisations and contacts
professional associations
those internal to the agency, such as other staff, managers, accounts departments and clerical support.

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 demonstrating the completion of daily work activities associated with business broking in line with legal and procedural requirements, including the identification of opportunities for professional development. 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:
applying relevant legislation in regard to transactions involving businesses
identifying professional development needs and opportunities and prioritising and implementing strategies to address them

knowledge of agency practice, ethical standards and legislative requirements related to business broking operations
seeking and accepting feedback from a range of appropriate personnel and clients
maintaining involvement in support processes and networks
working ethically and professionally with clients, colleagues and external agencies and modelling and maintaining high standards of performance.
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.