Elements describe the essential outcomes.

Performance criteria describe what needs to be done to demonstrate achievement of the element.

1. Seek instructions.

1.1 Confirm purpose of appraisal and client instructions according to legislation in the state or territory of operation.

1.2 Discuss agency requirements and appraisal processes with client.

1.3 Confirm commercial property usage, lease arrangements and land use controls.

1.4 Obtain agreement to proceed with appraisal according to legislation in state or territory of operation.

2. Conduct research to support appraisal of commercial property.

2.1 Select appraisal methodology suitable to property type and based on available information.

2.2 Analyse required documents, reports and financial data for property.

2.3 Analyse current market data and trends that may affect lease or sale of property.

2.4 Verify accuracy and reliability of collated data.

3. Complete appraisal report.

3.1 Analyse research findings to ascertain final appraisal, and record outcome according to agency requirements and client instructions.

3.2 Prepare appraisal report in an acceptable format, highlighting findings and rationale.

3.3 Present report to client.

3.4 Retain records and documentation securely, according to agency requirements.