This unit specifies the skills and knowledge required to appraise residential property for sale or lease. It includes selecting appraisal method/s and recommending appraisal price of property for sale or lease. This unit does not include establishing a formal property valuation.

This unit applies to people currently working in or seeking to work in real estate. State or territory licensing requirements may apply to this unit, which is an elective unit (residential property sales) forming part of the qualification CPP41419 Certificate IV in Real Estate Practice.

At the end of this unit, you will be able to:

• Prepare for property appraisal

• Research and analyse property market conditions and property attributes

• Prepare and present appraisal report