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 vacant land 
SAQA US ID UNIT STANDARD TITLE
15075  Perform valuations of vacant land 
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
2024-06-30   2027-06-30  

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 5 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 vacant land.

The qualifying learner is capable of:
  • Identifying and collecting information pertaining to vacant land to be valued.
  • Analysing the market pertaining to vacant land.
  • Determining the value of the vacant land.
  • Preparing and presenting a valuation report. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    standards of the National Certificate in Real Estate specialising in Property Valuation, or equivalent at NQF Level 4. They must also be able to communicate in English and apply financial and accounting practices to the equivalent of 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 and 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, 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, Physical Planning Act 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, graphs, schedules. 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Identify and collect information pertaining to vacant land. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Different types of vacant land are identified. 

    ASSESSMENT CRITERION 2 
    2. Instructions are analysed to identify obligations and client needs. 

    ASSESSMENT CRITERION 3 
    3. Applicable information is sourced and interpreted. 

    ASSESSMENT CRITERION 4 
    4. Vacant land to be valued is physically inspected. 

    ASSESSMENT CRITERION 5 
    5. Value forming attributes are identified and assessed. 

    SPECIFIC OUTCOME 2 
    Analyse the market vacant land. 

    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 is determined. 

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

    SPECIFIC OUTCOME 3 
    Determine the value of the vacant land. 

    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 choosing a particular valuation method are explained. 

    ASSESSMENT CRITERION 4 
    4. The effect of climatic conditions and rainfall are considered in the valuation where applicable. 

    ASSESSMENT CRITERION 5 
    5. The value of the property is determined and certified. 

    SPECIFIC OUTCOME 4 
    Prepare and present a valuation report. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The valuation report is prepared in the required format and presented to the client within the agreed time frame. 

    ASSESSMENT CRITERION 2 
    2. The report is complete, credible, and follows a logical sequence. 

    ASSESSMENT CRITERION 3 
    3. All aspects of the valuation process are reflected and explained in the report. 

    ASSESSMENT CRITERION 4 
    4. All conclusions in the report are motivated. 

    ASSESSMENT CRITERION 5 
    5. Instructions and requirements are met to ensure client satisfaction. 

    ASSESSMENT CRITERION 6 
    6. Supporting evidence is provided by means of annexures to the report where appropriate. 


    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 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 broad understanding of the regional and cultural variations in the property market.
  • A broad understanding of the various purposes for which property valuations are required.
  • 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.
  • A broad understanding of the property valuations case law.
  • 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 feasibility studies.
  • A broad understanding of the different types of property, general types of grazing land and potential for dry lands, 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 town planning schemes, various land classifications and the type of agricultural properties used for extensive farming, as appropriate.
  • A general understanding of the methods for estimating and calculating costs for determining replacement cost for insurance purposes.
  • A general understanding of the principles of accessibility and the influence of the cost of transport facilities on the value of agricultural properties used for intensive farming, as appropriate.
  • A comprehensive understanding of the legal factors and limitations that impact on the valuation of land, particularly of agricultural properties used for extensive farming, including subdivision and consolidation, categorisation of real rights and servitudes, as appropriate.
  • A comprehensive understanding of the principles and methods of preparing fully motivated valuation reports in respect of income producing properties.
  • A general understanding of basic accounting skills as related to procedures involved in performing valuation 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. 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. 

    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 in order to determine accurate values. 

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology effectively, critically and responsibly when consulting records and data of agricultural properties used for extensive farming. Use computer technology to compile spreadsheets, graphs and databases for the valuation of income producing properties. 

    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. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Understand the world as a set of related systems where both controllable factors and natural occurrences impact on the value of agricultural properties used for extensive farming. 

    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
    Core  49196   National Certificate: Social Housing Property Development  Level 6  Level TBA: Pre-2009 was L6  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  PSETA 
    Elective  80547   National Certificate: Auctioneering Practices  Level 5  NQF Level 05  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  SERVICES 
    Elective  66089   National Certificate: Human Settlements Development  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  CETA 
    Elective  20188   National Certificate: Real Estate  Level 5  Level TBA: Pre-2009 was L5  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 


    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.