Progress property disposals to meet clients’ requirements
URN: INSSUR15
Business Sectors (Suites): Surveying, Property Maintenance
Developed by: Skills CFA
Approved on:
2019
Overview
This standard is about progressing property disposals. It is about identifying and agreeing a client's requirements, preparing individual properties for disposal and promoting the disposal of properties.
Performance criteria
You must be able to:
- acknowledge and confirm the client's instructions for the disposal of the property
- verify, agree and record the client's detailed requirements and preferences in your organisation's record systems
- review the current market conditions, advise clients and recommend relevant methods for disposal of the property which will achieve the client's objectives
- advise and recommend marketing methods relevant for the property, market conditions and budget, to the client
- advise the client of the process and timescale for implementing and completing a disposal of property and of relevant statutory obligations
- record the relevant property details and agree them with the client
- advise the client on keeping, removing or replacing items at the property to show it to its best advantage and recommend any issues that require to be rectified to achieve a successful disposal
- agree the sales and promotional information about the property with the client and produce the information so it complies with industry requirements for the type of transaction, and conforms with relevant legal requirements
- prepare and produce sales and marketing material of the property for distribution to interested parties and prospective buyers
- agree arrangements for inspecting the property with interested parties and advise occupiers, where relevant, on the actions to be taken to maintain security and to safeguard the condition of the property
- contact prospective buyers and occupiers and explain the potential suitability of property to meet their requirements
- obtain feedback about the suitability of property and pass the information to the client
- arrange appointments to view the property and advise prospective buyers and occupiers
- evaluate and advise the client on all offers and bids received and assess the potential buyer's financial ability to fund the acquisition before taking the client's further instructions
- maintain complete records relating to the disposal of the property and only disclose information to relevant parties
Knowledge and Understanding
You need to know and understand:
- the principles of contract law regarding contracts for the disposal of property
- the importance of acknowledging and confirming the client's instructions and verifying and agreeing the client's detailed requirements
- how to record the client's requirements in your organisation's record systems
- the current market conditions which impact on the disposal of the property
- the marketing methods available, taking the property, market conditions and budget, into account
- the statutory obligations necessary to affect the property disposal
- the relevant importance of agreeing property details with the client
- the relevant industry practice to optimise the property for disposal
- the industry requirements and relevant legal requirements for producing sales and promotional information for the type of transaction
- the relevant requirements for maintaining the security and condition of the property
- how to agree arrangements for inspecting the property with interested parties
- how to release and issue marketing information and details of the property to meet the potential buyer's requirements and to attract buyers
- why you should obtain feedback about whether the property is suitable and pass the information to the client
- how to arrange appointments to view and advise prospective buyers and occupiers
- how to maintain your organisation's records relating to the disposal of the property
- the relevant parties to whom you can disclose information which is relevant to the disposal of the property
Scope/range
Scope Performance
Clients and prospective buyers:
- public
- private
Methods of property disposal:
- sales
- surrenders
- lettings
- licences
Marketing methods:
- brochures
- media advertising
- promotions and events
- internet and social media
Property details:
- title and tenure
- location and description
- accommodation
- services and facilities
- fixtures and fittings
- consents and approvals
- certificates
Assessing a buyer's ability to fund an acquisition:
- discussions with the potential buyer
- references
- credit and covenant rating
- funding
Scope Knowledge
Values
Behaviours
Skills
Glossary
Links To Other NOS
External Links
Version Number
1
Indicative Review Date
2024
Validity
Current
Status
Original
Originating Organisation
Instructus
Original URN
ASTSPM3O17
Relevant Occupations
Architects, Surveyor, Town Planners
SOC Code
2451
Keywords
surveying; property disposals; progress; environment; agent; employer; sale; marketing; buyers; offers; negotiating