In Summary - Auctioneering and Property Services
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The Work - Auctioneering and Property Services
- Explain the structure of the property industry including its relationship between agent, vendor and buyer, financial institutions and developers, including the main types of agencies and the weaknesses and strengths of each type.
- List the different valuation methods used in the industry and determine which method is best suited to the purpose of the valuation and to the type of property being valued
- Describe the rules and code of conduct governing ethical and professional behaviour as set down by the Property Services Regulatory Authority (PSRA) and the relevant professional bodies in the industry
- Identify good practice for maintaining detailed records and office administration for applicant qualification
- Describe the key concepts, strategies and tools of service marketing and explain how to influence and successfully negotiate the sale of property and land
- Demonstrate a clear understanding of the legislative framework within which the industry operates
- Explain the principles of economic theory and their application to the property market
- Describe the principles of building construction
- Explain how to let property and land in compliance with current legislation
- Discuss the structure and role of the property management company
Day to day work:
- The Licensed Property Services Provider values residential and commercial property and land for the purposes of sale, probate, family law, development or governmental initiatives
- He/She negotiates the sale of residential, commercial property and land either by private treaty or by auction tender.
- He/She lets residential, commercial property and land
- The Property Services Provider manages residential or commercial property
- He/She markets residential and commercial property and land for the purpose of sale or letting
Interests - Auctioneering and Property Services
This occupation is typically suited for people with the following Career Interests:
Enterprising people like situations that involve using resources for personal or corporate economic gain. Such people may have an opportunistic frame of mind, and are drawn to commerce, trade and making deals. Some pursue sales and marketing occupations. Many will eventually end up owning their own business, or in management roles in larger organisations. They tend to be very goal-oriented and work best when focused on a target. Some have an entrepreneurial inclination.
Administrative people are interested in work that offers security and a sense of being part of a larger process. They may be at their most productive under supervisors who give clear guidelines and while performing routine tasks in a methodical and reliable way.
They tend to enjoy clerical and most forms of office work, where they perform essential administrative duties. They often form the backbone of large and small organisations alike. They may enjoy being in charge of office filing systems, and using computers and other office equipment to keep things running smoothly. They usually like routine work hours and prefer comfortable indoor workplaces.
The Social person's interests focus on interacting with the people in their environment. In all cases, the Social person enjoys the personal contact with other people in preference to the impersonal dealings with things, data and ideas found in other groups.
Many will seek out positions where there is direct contact with the public in some advisory role, whether a receptionist or a counsellor. Social people are motivated by an interest in different types of people and like diversity in their work environments. Many are drawn towards careers in the caring professions and social welfare area, whilst others prefer teaching and other 'informing' roles.
- Employ professional judgement to qualify and recommend the most suitable buyer to a client.
- Communicate in a positive, engaging, energetic and passionate manner with clients, potential clients, members of the public.
- Be punctual, reliable, diligent and respectful and act with integrity towards clients, peers and colleagues at all times.
- Display a willingness to learn new skills, solve problems and work as part of a team.
- Show thoroughness and attention to detail in all aspects of the work of a Property Service Provider.
- Show awareness of the huge role personal appearance, grooming and dress plays in generating trust and confidence among clients and colleagues.
You will be trained to:
- Determine the valuation most suited to the property or land being valued and to the purpose of the valuation. Produce written valuations.
- Show a property to a client, highlighting key features which appeal to the relevant target market.
- Negotiate with vendors and buyers to ensure the successful sale of property or land.
- Generate sales leads and create potential business opportunities in every encounter, whether with members of the public, neighbours or professional colleagues.
- Network effectively to obtain market information, second opinions and business.
- Write clearly and persuasively when creating sales and marketing copy and when communicating with clients and colleagues.
- Measure and photograph a property in accordance with industry standards and guidelines.
- Demonstrate knowledge of basic construction principles when dealing with clients and industry professionals; draw and interpret simple technical drawings and simple building plans.
- Manage his or her time so as to maximise productivity, working to a tightly scheduled diary and dealing with multiple clients in the one day.
- Manage property in compliance with current legislation and in a way that ensures that both clients and tenants meet their legal obligations and benefit from their legal right.
- Demonstrate proficient computer skills, in particular Microsoft Word.