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.
Property investment may include:
concepts, plans and strategies
placement of capital in property for investment, productive use and customer service outcomes.
Relevant people may include:
accountants
agents
analysts
clients
government personnel
legal representatives
management and colleagues
members of industry associations
site personnel
taxation specialists.
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.
Clients may include:
developers
financial institutions
fund managers
individuals
internal and external property groups
investment organisations
joint ventures
owner-occupiers
partners
unit trustees.
Consultative processes may include:
face-to-face meetings
telephone, facsimile and written communication.
Information may include:
bank reports
general knowledge of industry
government statistics
industry reports and indices
market intelligence from industry operators or other interested parties
media reports
published analytical reports.
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.
Specialist advice may be sought from:
analysts
architects
bankers and financiers
business consultants
government officials
investment consultants
members of industry associations
planners
real estate agents

solicitors
valuers.
Market parameters may relate to:
ability to control investment
administrative talent
balancing a portfolio
capacity to improve assets
capital growth versus short-term gains
cash flows
class and type of property
demographics
exit strategies
gearing possibilities
geographic aspects
limits to financial resources
market standing
return on investment
return versus risk
taxation considerations.
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.
Risk may relate to:
access restrictions on property
borrowing risk
gearing
economic
market and property sector risks, including:
fluctuations in economic cycle
interest rates
stock market
risk factors and return expectations
specific property risk
volatility of income and capital.
Property investment strategy may cover:
determining market sectors
relative commitment of interested parties
type of property.
Feedback may be sought from:
clients and their legal representatives
management and colleagues
formal and informal performance appraisals
workplace assessment.
Business equipment and technology may include:
computers
data storage devices
email
facsimile machines
internet, extranet and intranet
photocopiers
printers and scanners
software applications, such as databases and word applications.

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 providing effective advice on investment in property. 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 investment information and identifying property trends and risk factors
consulting with investors and interested parties, receiving feedback and incorporating it where appropriate into future work processes
documenting and presenting advice and recommendations on property investment opportunities
knowledge of organisation's practices, ethical standards and legislative requirements associated with providing effective advice on investment in property
sourcing and evaluating property investment information and identifying investment 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.