This unit of competency specifies the outcomes required to establish, maintain and expand client–agency relationships to support the attainment of key agency business goals. It includes communicating effectively with clients, implementing the agency’s approach to client service and client–agency relationship management strategies, implementing personal marketing strategies and building ongoing relationships with clients. The unit may form part of the licensing requirements for persons engaged in real estate activities in those states and territories where these are regulated activities.
This Unit of Competence (CPPDSM4005A) is one of the elective units in the Certificate IV in Property Services (Real Estate) qualification (CPP40307).
Assessment for this unit includes tasks to be marked by your assessor, which may include multiple choice questions, short answer questions, case studies, projects, role-plays and / or demonstrations. Assessment activities for this unit are provided in a separate assessment document, which has been customised to meet the legislative requirements in
your state or territory.
You may apply for assessment through NREL’s recognition process whereby you demonstrate your current competence through prior learning (RPL) by compiling a portfolio of evidence to demonstrate your skills and knowledge. Your RPL will be supported by interview questions and / or third party reports to confirm your
skills and abilities. Competence in this unit will be demonstrated when you are able to show that you can meet the elements and performance criteria, shown on the following page. These have been extracted from the full unit descriptor which is available upon request.
As we all know, every business relies on its customers and clients to provide revenue and ultimately, pay our wages and salaries. It does not matter whether you are selling to businesses – you still need them to buy your product or service.
Even manufacturing businesses rely on sales – they need someone to buy their product, or they will go out of business.
Many businesses that sell their services direct to consumers sell small value items to a large number of clients – think about the retail industry for example.
In real estate, we sell our high value services to a small number of clients. Each client in real estate sales (vendor) is worth several thousand dollars to us in revenue and personal income.
Every property management client (landlord) has entrusted us to manage one of their most valuable assets for them for a percentage of their income (sometimes as much as 10% of revenue).
We often hear our clients talk about ‘their solicitor’ or ‘their accountant’. Rarely do you ever hear anyone talk about ‘their real estate agent’. The reason for this is two fold:
1. Real estate agents are often here one day, gone the next. The fall out rate is considerable (up to 70% of all new agents leave the industry in their first year in some areas). This leaves many potential clients feeling frustrated
with the apparent lack of consistency in the business.
2. Many of those that are in their first year in real estate have not developed the skills, knowledge and abilities to be seen as true professionals in the industry. As a result, corners may be cut, and some clients are exposed to
unnecessary risk or potential loss. The media is full of such stories, which devalues the role of the real estate agent in potential client’s minds.
On the other hand, the most successful agents are those that have several years experience under their belts. They have an expert knowledge of their local area, are involved in the local community and consistently demonstrate a sound working knowledge of the legislative requirements that surround the business.
More than that, they also demonstrate a commitment to building relationships with the potential clients and customers in their area and put themselves in the position of being the first choice of agent for many of those on their client base. As a result, they are more likely to obtain repeat and referral business, and their longevity in the industry is likely to be more assured.