SAQA

All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.

SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE:

Perform valuations of agricultural properties used for intensive farming

SAQA US ID	UNIT STANDARD TITLE
15072	Perform valuations of agricultural properties used for intensive farming
ORIGINATOR
SGB Real Estate
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-
FIELD			SUBFIELD
Field 11 - Services			Cleaning, Domestic, Hiring, Property and Rescue Services
ABET BAND	UNIT STANDARD TYPE	PRE-2009 NQF LEVEL	NQF LEVEL	CREDITS
Undefined	Regular	Level 5	Level TBA: Pre-2009 was L5	12
REGISTRATION STATUS		REGISTRATION START DATE	REGISTRATION END DATE	SAQA DECISION NUMBER
Passed the End Date - Status was "Reregistered"		2018-07-01	2023-06-30	SAQA 06120/18
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2026-06-30		2029-06-30

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.

This unit standard does not replace any other unit standard and is not replaced by any other unit standard.

PURPOSE OF THE UNIT STANDARD

This unit standard forms part of the qualification National Certificate in Real Estate, registered at Level 6 on the National Qualifications Framework. Learners working towards this standard will be learning towards the full qualification, or will be working within a Property Environment, specialising in Valuation, where the acquisition of competence against this standard will add value to their understanding of the sector and functioning in the workplace. This standard will also add value for learners who are starting or working in their own Property and/or Real Estate business.

The purpose of this standard is for learners to develop a practical understanding of the considerations and processes of valuing agricultural properties used for intensive farming.

The qualifying learner is capable of :

Identifying and collecting information pertaining to an agricultural property used for intensive farming

Analysing the market pertaining to agricultural property used for intensive farming

Determining the value of the property

Preparing and presenting a valuation report

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

Learners accessing this qualification will have demonstrated competence in the standards of the National Diploma in Real Estate or equivalent at NQF Level 5, and in the standards of the National Certificate - Property Valuation at NQF level 4.

UNIT STANDARD RANGE

Applicable information including title deeds, Surveyor General information consisting of diagrams and general plans, land use regulations, local authority information (where applicable) including applicable town planning scheme, photographs, field sheets, plans or sketches of improvements, market information, property valuation case law.

Relevant valuation methods including market approach, income approach, land residual approach and cost approach, with special reference to the pitfalls of the latter two approaches.

Legislation where applicable, including Land Survey Act 8 of 1997, Deed Registries Act 47 of 1937, Expropriation Act 63 of 1975, Restitution of Land Rights Act 22 of 1994, Section 25 (Property) of the Constitution of the Republic of South Africa 108 of 1996, Administration of Estates Act 66 of 1965, Property Valuers Profession Act 47 of 2000, Rent Control Act, Sectional Titles Act 95 of 1986, National Monuments Act, National Heritage Resources Act 25 of 1999, National Roads Act 54 of 1971, Physical Planning Act 125 of 1991, Town Planning Ordinances of the nine provinces, Rating Ordinances of the nine provinces, National Rates Act (Future), Subdivision of Agricultural Land Act 70 of 1970.

Annexures including locality map, plans or sketches, surveyor general diagram, photographs, title deed, field sheets, graphs, schedules

Specific Outcomes and Assessment Criteria:

SPECIFIC OUTCOME 1

Identify and collect information pertaining to an agricultural property used for intensive farming.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. Different types of agricultural properties used for intensive farming are identified.

ASSESSMENT CRITERION 2

2. The two classes into which improvements are divided are distinguished.

ASSESSMENT CRITERION 3

3. Instructions are analysed to identify obligations and client needs.

ASSESSMENT CRITERION 4

4. Applicable information is sourced and interpreted.

ASSESSMENT CRITERION 5

5. Legislation pertaining to use of agricultural properties is identified and interpreted.

ASSESSMENT CRITERION 6

6. Property to be valued is physically inspected. Comparable transactions are physically inspected.

ASSESSMENT CRITERION 7

7. Value forming attributes are identified and assessed.

SPECIFIC OUTCOME 2

Analyse the market pertaining to agricultural property used for intensive farming.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. The macro economic is analysed and interpreted.

ASSESSMENT CRITERION 2

2. The micro economic climate is analysed and interpreted.

ASSESSMENT CRITERION 3

3. Comparable market transactions are identified, physically inspected, investigated and analysed to ascertain their market relatedness.

ASSESSMENT CRITERION 4

4. Highest and best use, and potential for alternative use are determined.

ASSESSMENT CRITERION 5

5. General factors influencing market behaviour are identified and analysed.

SPECIFIC OUTCOME 3

Determine the value of the property.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. The basis of valuation is determined.

ASSESSMENT CRITERION 2

2. Applicable valuation methods are identified and applied.

ASSESSMENT CRITERION 3

3. Reasons for choice of particular valuation method are explained.

ASSESSMENT CRITERION 4

4. The effect of climatic conditions and rainfall are considered in the valuation.

ASSESSMENT CRITERION 5

5. The value of the property is determined.

SPECIFIC OUTCOME 4

Prepare and produce valuation report.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. The valuation report is complete, containing all necessary explanations and motivations, in the required format

ASSESSMENT CRITERION 2

2. The valuation report is presented to the client within agreed time frames.

ASSESSMENT CRITERION 3

3. Supporting evidence is provided by means of annexures to the report where appropriate.

ASSESSMENT CRITERION 4

4. Instructions and requirements are met to ensure client satisfaction

UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS

Providers will be accredited against this unit standard and assessors registered by the relevant Education Quality Assurance Body (ETQA).

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE

A broad understanding of the various purposes for which property valuations are required.

A broad understanding of the application of various approaches applicable to the valuation of the different types of properties under consideration.

A broad understanding of the methods and procedures to be followed in the valuation of the type of properties under consideration, and the main sources of information available to the valuer.

A comprehensive understanding of the methodology relevant to the determination of compensation for the expropriation of a right and of property other than a right, as appropriate.

A comprehensive understanding of the methodology relevant to the determination of compensation for the purposes of restitution

A comprehensive understanding of the legal factors and limitations pertaining to the valuation of the type of land under consideration, including subdivision and consolidation, categorisation of real rights and servitudes, as appropriate, and the purpose for which valuation is required.

A broad understanding of the property valuations case law, with special reference to expropriation and restitution case law, as appropriate.

A basic understanding of the techniques for reading and interpreting maps, plans and diagrams relating to the type of properties under consideration.

A broad understanding of the highest and best use and potential for alternative use, where appropriate.

A broad understanding of the principles and application of the time value of money.

A basic understanding of the application of discounted cash flow studies.

A general understanding of application of feasibility studies.

A broad understanding of the regional and cultural variations in the property market.

A broad understanding of the different types of property, special property (those specialised by function, design, construction, use or location), as appropriate.

A general understanding of the techniques used for inspecting and measuring different types of properties and land and improvements for purposes of valuation, as appropriate

A broad understanding of the mathematical procedures and methods of calculation of areas.

A general understanding of the methods for estimating and calculating costs for determining replacement cost for insurance purposes.

A general understanding of basic accounting skills as related to procedures involved in performing valuation of income producing properties.

A general understanding of the town planning schemes, various land classifications and the type of agricultural properties used for extensive farming, as appropriate.

A general understanding of the factors influencing the particular type of property to be valued, such as climatic conditions, principles of accessibility, as appropriate.

A comprehensive understanding of the principles and methods of preparing fully motivated valuation reports in respect of income producing properties.

UNIT STANDARD DEVELOPMENTAL OUTCOME

N/A

UNIT STANDARD LINKAGES

N/A

Critical Cross-field Outcomes (CCFO):

UNIT STANDARD CCFO IDENTIFYING

Identify and solve problems pertaining to all aspects of valuations for specific purposes as appropriate

Identify and solve problems in respect of the viability and performance of property portfolios.

UNIT STANDARD CCFO WORKING

Work effectively with others when engaging in the evaluation and processing of data related to property portfolio, as appropriate to the purposes for which the valuation is required.

UNIT STANDARD CCFO COLLECTING

Collect, analyse, organise and critically evaluate information in order to determine accurate values.

UNIT STANDARD CCFO COMMUNICATING

Communicate effectively both verbally and in writing when preparing and presenting reports on the valuation of properties so that information, procedures and methodology are clear and easily understood, where applicable.

Being culturally sensitive across a range of social contexts when dealing with expropriation or restitution issues, where appropriate.

UNIT STANDARD CCFO SCIENCE

Use computer technology to compile spreadsheets, graphs and databases for the valuation of income producing properties

Use science and technology effectively, critically and responsibly when consulting records and data of agricultural properties used for.

UNIT STANDARD CCFO DEMONSTRATING

Demonstrate an understanding the world as a set of related systems by taking into account supply and demand and all other economic factors influencing the market for the property, and the history of relevant parties, where appropriate.

Understand the world as a set of related systems where both controllable factors and natural occurrences impact on the value.

UNIT STANDARD ASSESSOR CRITERIA

N/A

REREGISTRATION HISTORY

As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015.

UNIT STANDARD NOTES

N/A

QUALIFICATIONS UTILISING THIS UNIT STANDARD:

	ID	QUALIFICATION TITLE	PRE-2009 NQF LEVEL	NQF LEVEL	STATUS	END DATE	PRIMARY OR DELEGATED QA FUNCTIONARY
Elective	24453	National Certificate: Real Estate	Level 6	Level TBA: Pre-2009 was L6	Passed the End Date - Status was "Reregistered"	2023-06-30	SERVICES

PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD:

This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.

NONE