Application
This unit specifies the skills and knowledge required to confirm buyer needs and represent buyers in purchasing property.
It includes developing a buyer brief and sourcing, inspecting and reporting on properties.
The unit applies to industry professionals acting on behalf of principals in real estate.
State or territory licensing requirements may apply to this unit.
Elements and Performance Criteria
Elements describe the essential outcomes. | Performance criteria describe what needs to be done to demonstrate achievement of the element. |
1. Prepare buyer brief. | 1.1 Establish buyer needs and preferences for type, location and price range of property. 1.2 Determine buyer capacity to buy and their access to finance. 1.3 Explain to buyer the role and responsibilities of a buyers’ agent. 1.4 Prepare buyer brief. 1.5 Prepare and complete agreement with buyer according to legislative requirements. |
2. Source properties. | 2.1 Research and list properties that meet buyer brief. 2.2 Assess properties against buyer brief and prepare a short list of suitable properties. 2.3 Obtain instructions from buyer about which properties to investigate further. |
3. Inspect properties and prepare report. | 3.1 Inspect properties with or without buyer. 3.2 Assess and rank each property against buyer brief. 3.3 Request further information and contract documentation for selected properties. 3.4 Prepare a report for buyer that details suitability, type and conditions of sale for recommended properties. |