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.
Agency and legislative requirements may relate to:
access and equity policy, principles and practice
business and performance plans, including organisational goals and objectives
client service policies
confidentiality and privacy concerns
goals, objectives, plans, systems and processes
industry and agency codes of conduct and practice and code of ethics
legislative and statutory requirements for provision of business brokerage services
mission statements and strategic plans
OHS policies, procedures and programs
policies and procedures relating to own role, responsibility and delegation
policy documents on pricing and fee structures
quality assurance and procedures manual, including continuous improvement processes and standards and sales and client liaison procedures
records and information systems
reporting and communication structures
terms and conditions of employment.
Questions or concerns may arise regarding:
business broking opportunities and potential difficulties
fees and fee structures
possible price
the agency and its reputation
the business appraisal and marketing process
the listing process
the sales and market climate
type and term of agency agreement.
Client instructions may relate to:
agency processes that may affect client
frequency and contact details for provision of information in relation to listing and sale
how they would like the business listed and marketed
selling price expectations.
Client profile may relate to:
availability of finance
commitments to suppliers, staff, and clients or customers
existence of a management succession plan
intended use of sale proceeds
involvement client is prepared to have in sale process
limitation on due diligence, if any
opinions of professional advisers
reason for sale
support and training provided to buyer where needed
tax position in terms of capital gains and superannuation rollover provisions
timeframe expected by client for settlement of sale.
Source documents may include:
current documentation and official records
financial records, including owner's financial position
fittings and fixtures documentation
franchise agreements
leases
plant and equipment inventories
statutory paperwork.
Structure, ownership and status of plant and equipment may be determined and verified against:
current documentation and official records
relevant federal, state or territory, and local government legislation and by-laws
statutory arrangements and regulations regarding incorporated bodies, public companies, corporations, businesses, sole proprietors, partnerships and franchises.
Conditions of occupancy may include:
agreements
certificates
contracts
environmental conditions
franchise
lease
licences
native title
permits
statutory concerns
title.
Status and ownership concerns may include:
authority to sell
debtors
financial viability
intellectual property
management and staff
ownership structure
plant, fixtures, fittings and equipment
security of tenure
stock
warranties and liabilities.
Pricing structures and price break-ups may relate to:
client-financed sale
encumbered or unencumbered
method of sale, such as auction or direct purchase
plant and equipment as separate sales

pricing for sale of business as a whole or in component parts
staggered purchase and/or retention arrangements
tax implications.
Marketing plans may relate to:
market trends and conditions
preferred, optimum and minimum acceptable outcomes
timeframes for listing and marketing
type of listing
where and how business would be marketed.
Further information may relate to:
agency procedures
appraisal processes
marketing processes.
Formal documentation may include:
agency agreements
agreements on listing and appraisal process between the agency and client
draft contracts
information for client on the listing appraisal and marketing process
listing forms, including fee negotiations
sellers' disclosure statement.

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 a practical demonstration of listing a business for sale with 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 business and associated plant and equipment ownership and status, as they relate to listing a business with a brokerage office
clarifying concerns and communicating with clients to enable the listing process and to resolve complications
documenting agreements and distributing relevant information to clients and relevant internal and external parties
knowledge of agency practice, ethical standards and legislative requirements related to listing a business for sale
preparing and structuring advice on the listing process for businesses.
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.