Auction Management Procedures

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Prepare for auction and Complete Sale
Student’s Name
Institution
Date

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CPPDSM4019A
Prepare for auction & complete sale
Participant Assessment
Information and Tools
Australian College of Business and Training
ABN: 871 401 337 95 Provider no.: 40493
Level 7, 32 Martin Place, Sydney, NSW 2000
Phone: [phone] Fax: + 61 2 9222 18 05
E-mail: [e-mail]
Website: www.auscbt.com.au
Contents 1. Purpose of this document
2. Competencies to be assessed
3. Required knowledge
4. Required skills
5. Critical aspects
6. Employability skills to be assessed
7. Context of and specific resources for assessment
8. Methods of assessment
9. Reasonable adjustments in assessments
10. Perceived academic misconduct
11. Assessment tools
11.1 Assessment tool 1: Portfolio of written answers
11.2. Assessment tool 2: Observation Checklist
12. Procedures of assessment submission
13. Recognition of prior learning
Appendix I. Program & Trainee Information
Appendix II. Results Sheet
Appendix III. Assessment Submission Cover Sheet
Appendix IV. Workplace Observation Checklist
1. Purpose of this
document
This document provides an introduction to the assessment and
procedures for evaluating a participant’s achievement of
competency in ‘CPPDSM4019A Prepare for auction &
complete sale’ unit of competency. It incorporates details on
the competency, knowledge and evidences a participant
should be able to demonstrate to be deemed competent in this
unit. This document also includes the assessment tools
through which a participant would be assessed in the unit.
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2. Competencies to be
assessed
The NSW Office of Fair Training requires (along with other
conditions) proof of successful completion of the following
five core units and 19 elective units (the total being 24 units)
in order to award an individual with Certificate IV in Property
Services (Real Estate).
5 Core units
1. CPPDSM4007A - Identify legal and ethical
requirements of property management to complete
agency work
2. CPPDSM4008A - Identify legal and ethical
requirements of property sales to complete agency
work
3. CPPDSM4009 - Interpret legislation to complete
agency work
4. CPPDSM4015B - Minimise agency and consumer risk
5. CPPDSM4080A – Work in the real estate industry
19 Elective Units
1. CPPDSM4003A - Appraise property
2. CPPDSM4005A - Establish & build client/agency
relationships
3. CPPDSM4006A - Establish & manage agency trust
accounts
4. CPPDSM4049A - Implement maintenance plan for
managed properties
5. CPPDSM4010A - Lease property
6. CPPDSM4011A - List property for lease
7. CPPDSM4012A - List property for sale
8. BSBRKG304 - Maintain business records
9. BSBLED401 - Develop teams & individuals
10. CPPDSM4056A - Manage conflict & disputes in the
property industry
11. BSBSMB406 - Manage small business finances
12. CPPDSM4022A - Sell & finalise the sale of property
by private treaty
13. CPPDSM4020 - Present at tribunals
14. CPPDSM4016A - Monitor & manage lease or tenancy
agreement
15. CPPDSM4017A - Negotiate effectively in property
transactions
16. CPPDSM4019A - Prepare for auction & complete sale
17. CPPDSM4014A Market property for sale
18. CPPDSM4036A Broker sale of industrial, commercial
and retail property
19. CPPDSM4013A Market property for lease
This assessment will address the requirements of Module four:
CPPDSM4019A Prepare for auction & complete sale unit.
There will be a series of face to face activities that will be
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conducted over the whole program. These will contribute to
your assessment of competency in this unit. Your active
participation in the group activities and your general
communication will all contribute to a successful assessment
of competency.
The participant (You) should be able to demonstrate
competency in the following elements/skill sets and
performance criteria to be deemed competent in this unit.
These are listed below. The full unit of competency can be
accessed from
https://training.gov.au/Training/Details/CPPDSM4019A.
The following elements and criteria need to be met in order to
achieve competence in this unit.
Element Performance Criteria:
1. Implement auction
marketing plan
1.1 Agreement to auction is obtained from seller according to
agency practice and legislative requirements.
1.2 Auction marketing plan is confirmed with seller in line
with agency practice, ethical standards and legislative
requirements
1.3 Descriptions of property to be auctioned are prepared for
use before and during auction
1.4 Auction marketing plan, including inspections, open
houses and relevant security arrangements, is implemented in
line with agency practice, ethical standards and legislative
requirements.
1.5 Marketing is monitored on a regular basis to establish
effectiveness of marketing plan.
1.6 Enquiries from prospective buyers and other interested
parties are addressed and where required copies of relevant
documentation are provided.
1.7 Offers from prospective buyers prior to auction are
referred to owner in line with agency practice and legislative
requirements.
1.8 Regular reports on auction marketing are communicated to
seller.
2. Prepare auction
documentation
2.1 Purpose and content of auction documentation are
explained to seller.
2.2 Auction documentation is prepared in a manner consistent
with seller instructions, marketing plan used to manage the
auction program, agency practice, ethical standards and
legislative requirements.
2.3 Assisting professionals are followed up in a timely
manner to ensure that auction documentation is completed
prior to auction date.
3. Plan auction day
procedures
3.1 Auction day procedures are confirmed with seller in line
with agency practice, ethical standards and legislative
requirements.
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3.2 Property is inspected by auctioneer prior to auction day
according to agency practice and legislative requirements.
3.3 Reserve price is confirmed with seller in line with agency
practice, ethical standards and legislative requirements.
3.4 Staff, equipment, promotional materials and other
requirements for auction are identified and arrangements are
made to ensure their availability on auction day
4. Implement auction
day procedures
4.1 Auction area is prepared , including deployment of staff,
and promotional materials and equipment consistent with
agency practice
4.2 Auction documentation is prominently displayed
consistent with agency practice and relevant legislation.
4.3 Property inspection is facilitated on auction day prior to
the commencement of the auction.
4.4 Questions from interested parties are answered or referred
to informed sources in line with agency practice and ethical
standards.
4.5 Auction day procedures are implemented in line with
agency practice and legislative requirements .
5. Complete follow-up
procedures after
auction sale
5.1 Follow -up procedures are implemented if property is sold
in line with agency practice, ethical standards and legislative
requirements.
5.2 Sales documentation is accurately completed in line with
agency practice and legislative requirements.
5.3 Follow -up procedures are implemented if property is
passed in consistent with agency practice, ethical standards
and legislative requirements.
5.4 Accurate sales data is compiled that reflects auction
outcomes for use in follow-up procedures.
5.5 Appropriate records of attendance or interest are compiled
to expand agency contact lists of potential clients identified
through the auction process.
5.6 Publication of auction results and post-auction information
is arranged in line with agency practice and legislative
requirements.
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3. Required
knowledge to be
assessed
• auction day procedures
• auction documentation, including:
• authorities
• contracts
• display
• statutory and agency documentation
• auction equipment, including:
• audiovisual equipment
• bell
• display boards
• flags
• gavel
• lectern
• signs
• stickers
• auction marketing plan, including:
• advertising and promotional strategies
• communicating with sellers
• contact with prospective buyers
• offers prior to auction submitted by prospective buyers
• outcomes of auction marketing
• post-listing conference
• property descriptions
• reasons for confirming auction marketing procedures
and expenses
• auction process
• follow-up procedures if property is passed in, including:
• highest bidder
• other bidders
• seller
• follow-up procedures if property is sold, including:
• buyer
• losing bidder
• other bidders
• seller
• negotiation techniques
• preparation of auction area, including:
• auction equipment
• distractions and hazards
• property inspection
• security
• relevant federal, and state or territory legislation and local
government regulations relating to:
• auctions
• anti-discrimination and equal employment opportunity
• consumer protection, fair trading and trade practices
• employment and industrial relations
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• financial services
• OHS
• privacy
• property sales
• reserve price, including:
• definition
• purpose
• setting
• risks and risk management strategies
sales data, including:
• collection techniques
• reasons for collection
• types of data
sales documentation, including:
• contract for sale of real estate
• declaration of selling agent
• finance statement to purchaser
• receipts for purchase money paid
• vendor's statement
records of attendance and interest in auction, including:
• collection techniques
• reasons for collection
• types of data.
4. Required skills to
be assessed
• ability to communicate with and relate to a range of people
from diverse social, economic and cultural backgrounds and
with varying physical and mental abilities
• analytical skills to interpret documents such as legislation,
regulations, contracts of sale and auction rules
• application of risk management strategies associated with
preparation for an auction
• computing skills to access agency databases, send and
receive emails and complete standard forms online
• decision making and problem solving skills to analyse
situations and make decisions that are consistent with
legislative and ethical requirements
• literacy skills to access and interpret a variety of texts,
including legislation and regulations; prepare general
information, papers, formal and informal letters, reports and
applications; and complete standard forms
• negotiation skills to assist clients to establish auction
marketing plans, reserve price and auction day procedures
• numeracy skills to calculate auction marketing expenses
• planning, organising and scheduling skills to undertake
work-related tasks associated with preparing for an auction,
including determining staff and equipment requirements
• research skills to identify and locate documents and
information relating to the sale of property by auction
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5. Critical evidence A person who demonstrates competency in this unit must be
able to provide evidence of:
• knowledge of auction marketing procedures
• knowledge of ethical standards, legislative and regulatory
requirements and agency practices associated with
preparation for an auction
• planning and implementing an auction marketing plan in line
with agency practice and legislative requirements
• planning and implementing auction day procedures in line
with agency practice and legislative requirements
• preparing auction documentation consistent with seller
instructions, marketing plan used to manage the auction
program, agency practice and legislative requirements
• taking instructions on reserve price from seller in line with
agency practice and legislative requirements.
6. Employability skills
to be assessed
This unit assessment contains the assessment of employability
skills as well. For details on employability skills assessment
requirements please refer to
http://employabilityskills.training.com.au/
7. Context of and
specific resources for
assessment
To support the assessment process and delivery of this unit
you will be provided access to appropriate documentation and
resources normally used in the workplace including the
following:
• Access to suitable simulated or real opportunities and
resources required to demonstrate your competence in this
unit.
• Access to a register provider of assessment services.
• Access to appropriate support to undertake assessments
• Where applicable, physical resources would include
equipment modified for people with disabilities.
• Assessment processes and techniques would be culturally
appropriate, and appropriate to the language and literacy
capacity of the candidate and the work being performed.
8. Methods of
assessment
A range of methods as following will be used to assess your
competence in this unit:
• Completion of written answers in a portfolio
• Observation of skills and knowledge in a Real Estate
workplace
9. Reasonable
adjustments in
assessments
ACBT fully adheres to the principles of the Disability
Discrimination Act, 1992. Wherever feasible and practicable
the trainers and assessors of this unit will take into
consideration your special needs, which may arise because of
Australian College of Business and Training (Provider no. 40493)