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.
Consultative processes may include:
face-to-face meetings
telephone, facsimile and written communication.
Clients may include:
financial institutions
fund managers
individuals
internal and external property groups
investment organisations.
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.
Property market information may be sourced from:
consultants
industry and organisational databases
information services
press clippings
published industry data, including industry indices
third parties
trade journals.
Analysis may include:
computer modelling
examination of cash flows and other financial projections
examination of collected data
quantitative and qualitative analysis
probability analysis
time series recognition.
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.
Resources may include:
materials
personnel
tools and equipment
training
transport.
Opportunities:
may include:
adding value
aggregating assets
altering existing property
change in use, ownership, appearance or perception of property
changing style of investment
creating something new
using bankers and financiers
may be maximised by:
flexibility in negotiation
protection of integrity of concept
enhancing saleability of proposition.
Market variables may relate to:
ability to control assets
balancing a portfolio
capacity to improve assets
capital growth versus short-term gain
cash flows
demographics
gearing possibilities
geographic aspects
limits to financial resources
return on investment
return versus risk
taxation considerations
type of property.
Industry benchmarks may include:
building operational costs
business strategy parameters
economic parameters
financial constraints
historical operational costs
industry published building occupation data
market expectations
research data
statutory costs.
Market parameters may include:
assessment of supply and demand for asset type
best use of asset
financial constraints
maximum asset use
return on investment
tenancy possibilities.
Specialist advice may be sought from:
architects
bankers and financiers
business consultants
developers
land economists
members of industry associations
planners
real estate agents
solicitors

taxation and accounting practitioners
valuers.
Methods for securing control may include:
confidentiality agreements
legal constraints
letters of intent
memoranda of understanding
options over site.
Business equipment and technology may include:
computers
data storage devices
email
facsimile machines
internet, extranet and intranet
photocopiers
printers
scanners
software applications, such as databases and word applications.
Relevant people may include:
accountants
agents
clients
government personnel
interested parties
legal representatives
management and colleagues
members of industry associations
site personnel
taxation specialists.
Package may include:
analysis of alternatives
chosen option
clear indication of commerciality of deal
details of site security
extent of financial involvement
history of proposition
letters of intent from interested parties
statements on credibility of parties.
Commitment may relate to:
confidentiality agreements
guarantees
letters of intent.

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 creating and securing property opportunities. 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 property market information using data analysis techniques and developing investment scenarios
documenting and presenting a packaged property deal and gaining a formal commitment to the deal
knowledge of organisation's practices, ethical standards and legislative requirements associated with identifying and securing property opportunities
making recommendations on a property opportunity and using appropriate control methods to secure control of the property deal
sourcing and organising property market information and using it to identify property opportunities.
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.