CPPREP4203
Complete commercial property sale


Application

This unit specifies the skills and knowledge required to manage the sales process for commercial properties.

This may include negotiating the terms and conditions of sale, organising the execution of sales documentation and monitoring contract settlement. Where properties are tenanted, lease arrangements are also facilitated.

The unit applies to industry professionals 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. Complete sale of commercial property.

1.1 Maintain communication with vendor and buyer to provide feedback on the sales process.

1.2 Identify and resolve issues that may impact the sale.

1.3 Arrange changes to leasing documentation as required.

1.5 Administer and secure deposit according to legislative requirements.

2. Complete documentation in preparation for sale.

2.1 Facilitate preparation of required sales documentation.

2.2 Arrange completion of documentation by all parties to the sale.

2.3 Organise completion of lease arrangements for tenanted property.

2.4 Consult legal advisor relevant to type of sale and complete pre-settlement processes according to agency requirements.

3. Monitor contract settlement.

3.1 Monitor progress of contract and adherence to conditions of sale according to agency requirements.

3.2 Maintain communication with all parties to the sale to facilitate contract settlement.

3.3 Confirm settlement has concluded and complete post-settlement processes.

3.4 Evaluate vendor and buyer satisfaction to establish future business opportunities.

3.5 Update databases to inform future prospecting activities.

Foundation Skills

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.


Sectors

Real estate