Introduction to the PDSM sector
These pages provide an overview of the Property Services, Sales and Development (PDSM) Sector including:
Sector workforce
The sector comprises people and agencies providing property services in the areas of:
§ Property operations and development
Property operations and development includes commercial property management of one or more properties for private investors or public sector owners, management of real estate development or redevelopment opportunities, asset, and community and strata management.
Real estate
Within real estate there are two broad areas of activity:
§ property sales, and
§ property management.
Staff working in real estate agencies often specialise in either property sales or property management and may also focus on particular types of real estate such as residential property or commercial, retail and industrial property. The major occupations in real estate agencies are:
§ agency manager
§ auctioneer
§ licensed real estate agent
§ property manager
§ real estate representative
§ support staff
§ buyer’s agent
§ tenant’s agent
Property Operations and Development
Property operations and development encompasses a range of occupations focused on the creation and utilisation of property assets within the broader economy. The key occupational areas in the sector are:
§ (Commercial) property managers – concerned with the day-to-day management of a single property, or multiple properties either for, or on behalf of, private investors or public sector owners
§ (Property) development managers – concerned with the management of a real estate development or redevelopment opportunity either for, or on behalf of, private investors or public sector owners, for either profit or non-profit situations
§ (Real estate) asset managers – concerned with the restructuring of single or multiple investment opportunity for the acquisition of existing or new properties, and the management of the investment property over the ownership period of the investment
§ Community and strata managers – concerned with the day-to-day operations and management of real property on behalf of an owner’s corporation or body corporate under relevant community and/or strata schemes legislation
§ Facility managers – concerned with the practice of integrating the management of people and the business process of the organisation with they physical infrastructure to enhance corporate performance.
Business broking is an emerging specialised area which focuses on the valuation, acquisition, marketing, merging and selling of different types of businesses such as news agencies, resorts, caravan parks, franchise and hotels.
Business brokers require a mix of selling, marketing, administration, legal, financial and small business competencies.
Stock and station agents are those who provide advice to and act on behalf of clients on the sale and purchase of rural land, livestock and crops. The major occupations in stock and station agencies are:
§ Stock and station agent/rural agent
§ Livestock manager/livestock sales manager
§ Auctioneer
§ Agency/branch manager
The key functions of stock and station agents include property sales, property management, livestock services, agency management and specialised agency services.
The property services industry is in a positive growth phase in all sectors due to the rising Australian population and increasing mobility of people for employment or lifestyle reasons. Australia’s growing population, which is estimated to be 33 million by 2050, is creating a greater demand for property services as people now expect more targeted services focusing on their particular needs for property purchase, sale or rental. Commercial property sales and leasing are also increasing as population centres establish and develop.
To manage an anticipated increase in renting or sales in future, tenants’ agents engaged in property management services predict a very high employment growth rate of 5.8 per cent a year to reach an estimated 20,000 personnel by 2012. As at June 2006, there were over 14,000 Real Estate agencies in Australia employing more than 60,000 real estate professionals. This number is predicted to grow to 74,000 by 2012-2014.
Emerging trends in the sector
The next generation of Australians is expected to rent for longer periods and that will increase demand in rental marketing and management services. In addition, services common to Europe such as buyer’s agents who match buyers and sellers through broking services rather than operating solely through larger selling agencies, are likely to grow in
However the biggest impact on the industry is technology, already showing up in real estate and property management services where one third of agents see technology use as their top business priority.
Ten years ago there was little data on any internet use in the industry but five years later 72% of listings are on-line and 80% of property sales are now initiated through the Internet. Some major agencies no longer rely upon print media for advertising properties and are going on-line for the majority of listings.
Buyers increasingly seek comprehensive data and virtual tours of properties to browse through on-line before even approaching an agency with an inquiry. The real estate workforce therefore needs to develop skills in the technological opportunities available such as video tours and SMS alerts, to take advantage of new opportunities that arise for reaching their clientele in innovative ways. This indicates that the sector will require more specialised training to take full advantage of the technology introduced. This impacts not just on new entrants to the sector, but also on the upskilling of many in the current workforce.
Training environment
Training in the industry has always been designed to meet licensing requirements however there is now an increasing emphasis on professional practice stimulating skill development across the real estate and property management sectors.
Almost 100 Registered Training Organisations (RTOs) offer training for the industry including TAFE institutes and private RTOs. The State and Territory Real Estate Institutes all offer Training Package qualifications or accredited courses that drive workforce development.
Regulatory authorities have yet to agree to a common licensing requirement for real estate personnel and agency management however, mutual recognition of license categories does operate across jurisdictions.
As States and Territories required different competency outcomes for licensing, real estate personnel require qualifications ranging from Certificate III to Diploma. The majority use skills from the Certificate IV in Property Services while agency principles may require a Certificate IV or Diploma covering agency and facility management.
As many agencies in this sector are small to medium-sized businesses, there is a need for qualifications that provide for specialisation but also offer opportunities to gain a mix of property sales, property management, administrative and general management competencies. This is particularly so for real estate occupations. Additionally, the diversity of skills required by business brokers has led to a demand for flexible qualifications that address both the operational and managerial skill needs of the sector.
The most recent review of the nationally endorsed units and qualifications for the PDSM Sector has addressed the current needs of the sector and enhances emerging skills in the industry. For example, in real estate the occupations buyers’ agent and tenant’s agent are relatively new and the CPP07 Property Services Training Package includes units of competency that focus on these specialist roles.
Qualifications framework for the PDSM Sector
There are ten qualifications ranging from Certificate III to Advanced Diploma for the Property Development, Sales and Management Sector.
Units of competency developed for industry functions that are also covered by licensing have been packaged within qualifications in such as way as to relate easily to licensing requirements.
The packaging rules of qualifications provide a great degree of flexibility. In general, they allow the selection of elective units from both within the CPP07 Training Package, and other endorsed Training Packages, as well as from one AQF level above the level of the qualification.
The individual qualifications structure including packaging rules for the PDSM Sector is shown below. Remember to check the TGA website for the latest version of the qualifications and units of competency they contain.
|
Qualification
|
Qualification title |
AQF alignment |
|
CPP30211 |
3 |
|
|
CPP30311 |
3 |
|
|
CPP40307 |
4 |
|
|
CPP40407 |
Certificate IV in Property Services (Stock and Station Agency) |
4 |
|
CPP40507 |
4 |
|
|
CPP40611 |
4 |
|
|
CPP50307 |
5 |
|
|
CPP50409 |
5 |
|
|
CPP50511 |
Diploma of Property Services (Asset and Facility Management) |
5 |
| CPP60211 |
Advanced Diploma of Property Services (Asset and Facility Management) |
6 |
Units of competency for the PDSM Sector
The Property Development, Sales and Management Sector has been redeveloped with 139 sector-specific, and 62 imported units of competency. These provide greater coverage of industry functions, and also accommodate emerging skills needs.
To view the complete listing of PDSM units of competency, visit the TGA website .
Imported units of competency in PDSM qualifications
Within property development, sales and management qualifications, wide use has been made of endorsed units of competency drawn from other Training Packages. The imported units of competency cover generic cross-industry functions. These units are accessed from the following Training Packages which can be accessed via the TGA website :
§ BSB07 Business Services Training Package
§ FNS10 Financial Services Training Package
