This unit of competency supports the agency work of licensed real estate agents, real estate representatives and agency support staff. It is particularly relevant for licensed real estate agents, real estate representatives and agency support staff who seek to relocate and resume practice in a different State or Territory of Australia.

Nil

ELEMENT

PERFORMANCE CRITERIA

1Source and apply information on real estate industry in relevant State or Territory.

1.1 Sources of information on the real estate industry in relevant State or Territory are identified and accessed.

1.2 Information is obtained to assist effective work performance within the industry.

1.3 Information on related industries is sourced.

1.4 Knowledge of the real estate industry is applied in the correct context to enhance quality of work performance.

1.5 Current issues of concern to the industry are monitored.

1.6 Updated knowledge is shared with clients and colleagues as appropriate and incorporated into day-to-day work activities.

2Source and apply relevant state or territory legislation and regulations affecting agency operations.

2.1 Sources of information on state or territory legislation and regulations affecting agency operations are identified and accessed.

2.2 Relevant state and territory legislation and regulations are obtained to assist effective work performance.

2.3 Day-to-day real estate industry activities are conducted according to relevant legislative and regulatory requirements.

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

Required skills:

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

analytical skills to interpret documents such as legislation, regulations and codes of conduct

application of risk management strategies associated with applying legislation, regulations and codes of practice relevant to real estate operations

computing skills to access agency databases, compose electronic documents and complete standard and statutory forms online

decision making and problem solving skills to analyse situations and make decisions consistent with state or territory legislative and regulatory requirements

literacy skills to access and interpret a variety of texts, including legislation, regulations and codes of practice; prepare general information and papers; prepare formal and informal letters, reports and applications; and complete standard and statutory forms

planning, organising and scheduling skills to access and maintain copies of legislation, regulations and codes of conduct

research skills to identify and locate state and territory legislation, regulations and codes of conduct relevant to real estate operations.

Required knowledge and understanding:

ethical standards

real estate codes of conduct

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

anti-discrimination and equal employment opportunity

consumer protection, fair trading and trade practices

employment and industrial relations

environmental issues

financial services

franchises and business structure

OHS

privacy

property sales and management

real estate licensing

risks and risk management strategies

sources of information on state or territory legislation and regulations affecting real estate operations

sources of information on the real estate industry at state or territory level

statutory records

written communication, such as letters and emails.

Overview of assessment

This unit of competency could be assessed through case studies and practical demonstration of knowledge and application of legislative and regulatory requirements relevant to real estate operations in relevant State or Territory. 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:

knowledge of legislative and regulatory framework applying to real estate agency operations in relevant State or Territory

knowledge of real estate industry required to work effectively in relevant State or Territory

sourcing and applying information on the real estate industry in relevant State or Territory

sourcing and applying legislation and regulations affecting agency operations, particularly property sales and management, in relevant State or Territory.

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.

Sources of information may include:

agency principals

colleagues, supervisors and managers

government agencies

industry and government websites

industry and professional organisations and associations

industry conferences and seminars

industry consultants, contacts, mentors and advisers

industry journals

information services

libraries

licensed real estate agents

media

personal observation and experience

reference books

training programs

training providers

written correspondence, such as letters and emails.

Information may include:

career opportunities within the industry

environmental issues and requirements

industrial relations issues and major organisations

industry expectations of staff

industry working conditions

new products, technology, techniques and services

organisation of the real estate industry

quality assurance

relationships between the real estate industry and other industries

work ethic required to work in the industry.

Related industries may include:

banking

business

construction

finance

retail

rural

sales.

Quality of work performance may include:

client service

compliance with codes of conduct

compliance with legislative and regulatory requirements

ethical standards

knowledge of property sales and management environment.

Issues of concern may include:

emerging markets

employment issues

environmental and social issues

government initiatives

industry expansion or retraction

new services and products.

Legislation and regulations may include:

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

anti-discrimination and equal employment opportunity

consumer protection, fair trading and trade practices

employment and industrial relations

environmental issues

financial services

franchises and business structure

OHS

privacy

property sales and management

real estate licensing.

Real estate industry activities may include:

business broking

property development

property management

property sales.

Unit sector

Property development, sales and management

Real estate

The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary of the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements.