Elements describe the essential outcomes.

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

1. Analyse business opportunities in the property market.

1.1 Analyse sources of information about the property market and business environment to determine both immediate and ongoing business opportunities.

1.2 Complete cost–benefit analysis of property information to determine the viability of opportunities.

2. Prepare for potential demand for agency services.

2.1 Analyse available information to develop agency property market profile.

2.2 Estimate demand for agency services and develop potential client profile.

2.3 Determine resources to service projected demand and include in an overall cost–benefit analysis.

2.4 Establish agency marketing positioning strategy.

2.5 Document range of services to be provided with associated service fees and charges.

3. Establish business goals and objectives.

3.1 Determine business goals and identify activities to achieve projected share of the property market.

3.2 Conduct break-even analysis of short- and long-term agency viability to ensure cash flow.

3.3 Determine performance benchmarks.

4. Review business strategies.

4.1 Develop strategic directions within the business plan.

4.2 Use agency business plan to evaluate agency business performance.