Students will learn the elements of an effective property report, for both property management and sales functions in real estate practice, and understand the importance of presenting and explaining property reports in a way that meets the client's needs.
Element |
Performance criteria |
- Undertake property inspection
|
| 1.1 |
The inspection is planned to satisfy agency and client requirements. |
| 1.2 |
Visual inspections of the inside and outside of the building and surrounds are conducted and overall impressions of structural and aesthetic features are noted. |
| 1.3 |
Obvious building defects are observed and noted for future reference. |
| 1.4 |
Periodic inspections are scheduled as required to maintain condition of property. |
|
- Define the main features of building styles in the market as they affect the subject property.
|
| 2.1 |
Architectural and construction styles affecting the value of the subject property are identified. |
| 2.2 |
Variations from 'pure' styles and associated modifications to the original building and surrounds are noted. |
| 2.3 |
Current market value is estimated in light of the effect any modifications may have on the market value of the property. |
| 2.4 |
Information is collected which will provide a useful and concise record for preparation of the Property Condition Report. |
|
- Prepare a Property Condition Report.
|
| 3.1 |
Information collected during the inspection and additional researched information is compiled as a clear, concise and accurate record of current condition. |
|
- Analyse cost benefits of property improvements.
|
| 4.1 |
Preventive or enhancement measures are researched to provide a range of options for consideration. |
| 4.2 |
Possible structural or aesthetic defects requiring professional opinion or advice are identified and noted for discussion with the client. |
| 4.3 |
A report is produced which addresses key client concerns and provides a useful reference and decision-making tool. |
| 4.4 |
Overall condition of the property is estimated in relation to current and predicted property values in the relevant market. |
|
- Present and discuss condition report.
|
| 5.1 |
The information is presented in a clear and logical fashion and is understandable to the client. |
| 5.2 |
Immediate and long-term options are clearly presented and cost benefits of each option explained to the client's satisfaction. |
| 5.3 |
A report is produced which assists the client make sound and objective decisions about the immediate and long-term value of the subject property. |
| 5.4 |
Agency services related to improving the condition of the property are explained to the client's satisfaction. |
|
- Take instructions.
|
| 6.1 |
Client instructions are obtained and recorded for future action. |
|
