This unit of competency supports the work of licensed real estate agents and real estate representatives involved in marketing all types of properties and businesses for sale.

Nil

ELEMENT

PERFORMANCE CRITERIA

1Develop marketing plan for property.

1.1 Potential buyer profile and benefits of effectively marketing property for sale are discussed with seller.

1.2 Strategies and timeframe for marketing property, including possible marketing activities, are discussed with seller.

1.3 Costs of different marketing strategies and activities are discussed with seller.

1.4 Marketing plan for property is prepared and presented to seller in line with agency practice.

1.5 Marketing plan, including marketing activities and budget, is agreed with seller.

2Check marketing materials.

2.1 Marketing materials that reflect agreed property and agency marketing plan are developed within agreed budget and timeframes.

2.2 Marketing materials are checked for accuracy and compliance with agency and legislative requirements.

3Implement marketing activities.

3.1 Persons involved in marketing property for sale are briefed on their roles and responsibilities to ensure success of marketing activities.

3.2 Marketing activities are implemented in line with agreed marketing plan and budget.

3.3 Responsibility is assigned for ongoing monitoring of marketing activities.

3.4 Marketing activities are implemented that comply with agency practice, ethical standards and legislative requirements.

3.5 Seller is kept informed ofprogress of marketing activities according to agency practice and legislative requirements.

4Review and report on marketing activities and plan.

4.1 Marketing activities and plan are reviewed against aims and objectives of marketing plan.

4.2 Feedback on outcomes of marketing activities is sought using reliable methods and verifiable data according to agency practice.

4.3 Need for alternative marketing activities and adjustments to marketing plan are assessed in consultation with relevant people ifproperty proves difficult to sell.

4.4 Effectiveness of planning and marketing processes is assessed to identify possible improvements in future activities.

4.5 Costs and time lines are analysed to evaluate and improve future marketing initiatives.

4.6 Conclusions are prepared from verifiable evidence and advice is provided on future marketing initiatives.

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 property documentation

application of risk management strategies associated with advising clients on approaches to marketing properties for sale

computing skills to access agency databases, send and receive emails and complete standard forms online

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

literacy skills to access and interpret a variety of texts, including legislation, regulations and rules of ethics; prepare general information and papers; prepare marketing materials and marketing plans; and complete standard forms

negotiation skills to assist sellers to decide on marketing activities, budgets and timeframes

numeracy skills to calculate and interpret data, such as costs of marketing activities and to ensure compliance with agreed marketing budgets

planning, organising and scheduling skills to implement marketing plans

research skills to identify and locate documents and information relating to preparing marketing plans for specified properties.

Required knowledge and understanding:

ethical standards associated with marketing properties for sale

factors considered in review of effectiveness of marketing strategy, plan, activities and materials

factors influencing choice of marketing strategy

marketing activities, including:

advertising, including print and electronic media

agency property guides

brochures

direct marketing

business-to-business marketing

inspections

mail-outs

networking

open house

signboards

seminars

targeting markets by service type

internet and online advertising, including web pages, virtual tours and online directories

marketing budget

marketing materials

marketing plan

marketing strategies for:

businesses

commercial properties

development properties, including subdivision and multi-unit sites

industrial properties

residential properties

retail properties

rural properties

principles underpinning effective marketing materials

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

financial services

OHS

privacy

property sales

risks and risk management strategies

strategies if properties prove difficult to sell.

Overview of assessment

This unit of competency could be assessed through practical demonstration of marketing properties and businesses for sale. 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:

implementing marketing activities for the sale of all types of property in line with agency practice, ethical standards and legislative requirements

knowledge of agency practice, ethical standards and legislative requirements associated with marketing all types of property for sale

planning and developing marketing plans for the sale of all types of property in line with agency practice, ethical standards and legislative requirements

preparing marketing materials for the sale of all types of property in line with agency practice, ethical standards and legislative requirements

reviewing and reporting on marketing activities associated with the sale of all types of businesses and 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 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.

Buyer profile may include:

buyer's property requirements

buying intentions

financial capacity

timeframe for purchase.

Marketing activities may include:

advertising, including print and electronic media

agency property guide

brochures

business-to-business marketing

direct marketing

inspections

mail-outs

networking

open house

seminars

signboards

targeting markets by service type

internet and online advertising, including web pages, virtual tours and online directories.

Marketing plan may include:

advertising and promotional materials prepared and scheduled

advertising budget

aims and objectives

inspection of property by agency sales consultants

inspections scheduled

property listed in agency property guide

prospective buyers contacted

sale board prepared and ordered as per schedule

seller advised of advertising and marketing procedures and costs

target group identified for marketing plan

timeframe for marketing activities

seller advised on optimal property presentation

web-based advertising arranged.

Persons may include:

agency principal

business broker

licensed real estate agent

real estate representative

stock and station agent

support staff.

Monitoring of marketing activities may include:

enquiry records

expenditure

feedback from prospective buyers

feedback from sales consultants

feedback from seller.

Information on progress may include:

agency input into marketing of property

approaches and enquiries of interest regarding the property

costings

perception of levels of interest and worth of current marketing strategies

possible changes in marketing activities and plan

strategies used in marketing and promoting the property.

Strategies if property proves difficult to sell may include:

revising advertising budget

modifying advertising copy and promotional materials

involving other agencies.

Verifiable evidence may include:

checklists

notes

qualitative and quantitative data

records

testimonies.

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.