Application
This unit of competency supports the work of licensed stock and station agents and stock and station representatives or certificate holders involved in appraising the sale price range or rental value of rural property for listing purposes. |
Prerequisites
Nil |
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA | |||
1Research rural property. | 1.1 Purpose of property appraisal is established with client in line with agency practice and legislative requirements. 1.2 Information on rural property is gathered and organised in a format suitable for analysis and interpretation in line with agency practice. 1.3 Information gathering methods are selected that are reliable, make efficient use of time and resources and are in line with agency practice. | |||
1.4 Appropriate interpersonal communication techniques are used to access additional information from relevant people. 1.5 Source documents are obtained and analysed to determine status and ownership of rural property, in line with agency practice and legislative requirements. | ||||
2Appraise sale price range or rental value of rural property for listing purposes. | 2.1 Appropriate method for appraising the sale price range or rental value of rural property is selected in line with agency practice. 2.2 Sale price range or rental value of rural property is appraised for listing purposes in line with client instructions, agency practice and legislative requirements. 2.3 Appraisal of sale price range or rental value of rural property is in line with agency practice and is clear, justified and based on assessment of all factors. 2.4 Limitations in appraising rural property are recognised and specialist advice is sought as required in line with agency practice. | |||
3Present information. | 3.1 Information on sale price range or rental value of rural property is presented to client within specified time, budget and quality constraints and in line with client requirements and agency practice. 3.2 Information is prepared and presented in required format, style and structure using relevant business equipment and technology. 3.3 Feedback on suitability and sufficiency of appraisal is obtained and where appropriate incorporated into advice. 3.4 Agency property records are securely maintained in line with agency and legislative requirements, with due regard to client confidentiality. |
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 (DSE)/carrying 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 anti-discrimination 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 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: 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 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. | |
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 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. |
Sectors
Unit sector | Property development, sales and management |
Competency Field
Stock and station agency |
Employability Skills
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. |
Licensing Information
Refer to Unit Descriptor