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.
Clients may include:
bankers and fund managers
fund providers
institutions
internal and external property groups
owner-occupiers
private investors.
Client expectations may relate to:
immediate capital gains
long-term capital gains.
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.
Information may relate to:
required and projected cash flows
existing client risk management strategies
individual investment preferences and aversion or tolerance to risk
other client details, such as employment security, and likely events and their impact on the client
relevant personal, financial and business details
taxation obligations.
Client profile may include:
client current and proposed operating environment, assets and systems
details of client needs and objectives for income, security, liquidity and time period.
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.
Sources of property market information may include:
consultants
industry and organisational databases
information services
press clippings
published industry data, including industry indices
third parties
trade journals.
Communication techniques may include:
active listening
clear, legible writing
maintaining eye contact
non-verbal communication, including body language and personal presentation
speaking clearly and concisely
using appropriate language and tone of voice
using open and closed questions.
Comparative market data may include:
best practice information
national and international benchmarking
inter-organisation comparison data.
Industry benchmarks may include:
discounted cash flow
employment rates
industry association performance index
inflation rate
internal rate of return
life cycle costing
published vacancy factors
tenancy mix.
Market conditions may include:
availability of alternatives
business confidence
economic conditions
level of competition.
Analysis:
may be:
explorative, descriptive, causative or predictive
quantitative and qualitative

may include:
basic statistical analysis
critical analysis
mathematical calculations
problem solving.
Specialist advice may be sought from:
architects
bankers and financiers
business consultants
land economists
members of industry associations
other developers
planners
real estate agents
solicitors
taxation and accounting practitioners
valuers.
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.

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 researching and providing advice on a current or proposed property investment. 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:
carrying out comprehensive data analysis of relevant market information sufficient to make valid recommendations
knowledge of organisation's practices, ethical standards and legislative requirements associated with researching and providing advice on a current or proposed property investment
providing accurate property investment information for defined client purposes
sourcing specialist advice when required
sourcing, organising, analysing and maintaining information using appropriate technology
using appropriate research and data analysis techniques.
Context of and specific resources for assessment
Resource implications for assessment include:
access to suitable simulated or real opportunities and resources 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.