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Elements and Performance Criteria

  1. Research rural property.
  2. Appraise sale price range or rental value of rural property for listing purposes.
  3. Present information.

Required Skills

This section describes the essential skills and knowledge and their level required for this unit

Required skills

ability to communicate with and relate to people from a range of social economic and cultural backgrounds and with varying physical and mental abilities

analytical skills to interpret documents such as legislation regulations and rural property reports

application of risk management strategies associated with appraising the sale price range or rental value of rural property for listing purposes

computing skills to access the internet and web pages prepare and complete online forms and search online databases

decision making and problem solving skills to analyse situations and make decisions consistent with legislative and ethical requirements

literacy skills to access and interpret a variety of texts including legislation regulations and rural property reports prepare rural property appraisal reports prepare formal and informal letters advertisements and reports and complete standard and statutory forms

numeracy skills to calculate and interpret data such as trends in rural property sale prices and rents

research skills to gather information from a variety of sources on different forms of property rents and sale price trends and sale prices and rents of comparable rural properties

Required knowledge and understanding

agency principal relationship

agency property records including

key features of a records management system

reasons for maintaining property records

types of property records

determination of sales price range or rental price of rural properties including

appraisal methods

local market factors

factors that affect return on rural property such as

climatic

economic

international markets

political

social

technological

water

key indicators of rural property market conditions

market conditions including

leasing market conditions

rural sector conditions

sales market conditions

property appraisal including

content and format of appraisal report

difference between appraisal and valuation

factors that influence whether rural properties are comparable for appraisal purposes

information required for appraisals of rural properties

key sources of information required for appraisals

property appraisal methods

purpose of property appraisals

property knowledge including

chattels

dairies quotas breeds lactation dairy layout and equipment and conversion factors such as dairy set up herd access and distance to market

cropping properties yields seasons types of crops soils facilities such as grain storage and transport diseases and rotational cropping

general local market conditions trends in sector and industry land titles geophysical and topographical characteristics carrying capacity local land characteristics production expectations stock agistment and growing potential

grazing properties dry sheep equivalent DSEcarrying capacity pastures soil types and breeds

irrigated properties water licence availability soil types topography and types of reticulation such as flood drip direct or row cropping

water

relevant federal and state or territory legislation and local government regulations related to

animal health

antidiscrimination

aquaculture

consumer protection

crown land

environmental issues

equal employment opportunity EEO

financial probity

franchises and business structure

industrial relations

livestock

native title

OHS

privacy

rural property sales leasing and management

taxation

water rights

return on rural property investment

risks and risk management strategies associated with rural property appraisal

role of the stock and station agent in providing property appraisal

sources of information on market conditions

Evidence Required

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 or case study of appraising rural property for listing purposes for sale or leasing Targeted written including alternative formats where necessary or verbal questioning to assess the candidates underpinning knowledge would provide additional supporting evidence of competence The demonstration and questioning would include collecting evidence of the candidates 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

appraising the sale price range or rental value of rural property for listing purposes

gathering and researching information on rural property for use in conducting appraisals

identifying the limitations of rural property appraisals and sourcing specialist advice as required in line with agency practice

knowledge of agency practice ethical standards and legislative requirements associated with appraising the sale price range or rental value of rural property for listing purposes

knowledge of different property appraisal methods

maintaining agency property records with due regard to client confidentiality in line with agency practice and legislative requirements

presenting information on sale price range or rental value of rural property to clients within specified time budget and quality constraints and in line with client requirements and agency practice

using appropriate methods for appraising the sale price range or rental value of rural property

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 andor 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 persons 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 RCCRPL 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 projectbased 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


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.

Purpose of property appraisal may include:

establish most likely selling price range or leasing price in the current market

establish rural property's best use.

Legislative requirements may include:

relevant federal and state or territory legislation and local government regulations related to:

animal health

anti-discrimination

aquaculture

consumer protection

crown land

environmental issues

EEO

financial probity

franchises and business structure

industrial relations

livestock

native title

OHS

privacy

rural property sales, leasing and management

taxation

water rights.

Rural property may include:

acreage

commercial

farm, including:

aquaculture

cropping

dairy

grazing

horticulture

mixed uses

olive

orchard

trees

viticulture

hobby farms

residential

water.

Interpersonal communication techniques may include:

active listening

providing an opportunity for clients to clarify their understanding of the sales process

soft questioning and seeking feedback from clients to confirm own understanding of their needs and expectations

summarising and paraphrasing to check understanding of client message

using appropriate body language.

Relevant people may include:

accountants

agronomists

auctioneers

clients

colleagues

commodity pricing consultants

crop specialists

government officials

industry professionals and members of industry associations

investment consultants

legal representatives

livestock specialists

soil scientists

stock and station agents

supervisors

taxation specialists

valuers

veterinarians.

Source documents may include:

aerial photography

agency records

auction results

chemical status reports

commodity prices

company asset documents and registers

comparative market data

depreciation schedules

farm documents

financial documents

land use controls

licences, leases and quota documentation

local government reports

maps

planning

production statistics

qualitative and quantitative data

rent reviews

reports and inventories

rural media

rural property sales reports

rural property valuation statements

taxation records

titles

water licences

weather reports.

Method for appraising the sale price range or rental value of property may include:

capitalisation

comparative sales

hypothetical development

replacement cost

summation.

Specialist advice may include:

accountants

agronomists

bankers and financiers

business consultants

commodity experts and consultants

engineers

farming consultants

government officials

industry professionals and members of industry associations

investment consultants

livestock advisers

real estate agents

soil scientists

solicitors

subcontractors

taxation specialists

technical experts

valuers

water consultants.

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.

Feedback may include:

comments from clients and colleagues

documentation and reports

quality assurance data

questionnaires

regular meetings.