USB345 Specialised Valuation
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | USB345 |
|---|---|
| Prerequisite(s): | USB144 or USB242 |
| Antirequisite(s): | USB343 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| CSP student contribution | $2,124 |
| Pre-2021 CSP student contribution | $1,663 The pre-2021 commonwealth supported place (CSP) contribution amount only applies to students enrolled in a course prior to 2021. To learn more, visit our Understanding your fees page. |
| Domestic tuition unit fee | $3,204 |
| International unit fee | $4,512 |
Unit Outline: Semester 1 2025, Gardens Point, Internal
| Unit code: | USB345 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | USB144 or USB242 |
| Anti-requisite: | USB343 |
| Coordinator: | Andrea Blake | a.blake@qut.edu.au |
Overview
Specialised Valuation is the capstone valuation unit and applies the valuation principles and procedures developed in USB142 Residential Valuation and USB144 Investment Valuation, to the more complex property classes such as rural land and the valuation of specialist properties that are based on the profit generated from the businesses operating from these properties.
Learning Outcomes
On successful completion of this unit you will be able to:
- Analyse unique property market segments and the drivers of property value.
- Apply valuation methodologies and calculations to property valuation problems.
- Identify and apply legislative compensation principles to statutory acquisition scenarios.
- Prepare and present a written report to a professional standard required of an expert witness as evidence in a court of law.
- Collaborate in a team to manage professional relationships and represent a party in a case conference meeting.
- Make professional and ethical judgments in relation to the role of the valuer as an expert witness.
Content
Learning outcomes will be achieved through coverage of the following topics:
- Rural property inspection procedures and application of valuation methodologies
- Rural property market analysis and reconciliation
- Rural valuation report
- Retail property valuation
- Classification of specialist premises
- Going concern valuations
- Business goodwill and value
- Valuation methodologies for boutique property types
- Boutique and special premises property valuation reports
- Evidence: the expert witness, professional liability understanding, and moot court experience
Learning Approaches
This unit engages you in your learning through a theory-to-practice approach, with a large proportion of the unit made up of practical application of basic theoretial concepts. This unit will involve some computer laboratory based blended lectures combined with formal training opportunities, online activites, studio sessions. Where lectures are held, these will convey the essential theoretical background to the unit, blended together with hands on experience and training in the nominated software. The assessment items are designed to help you understand and apply the key concepts via more practical application.
You will be expected to attend the formal software training sessions offered and complete the online activities prescribed. You will also be expected to undertake directed private study and read the nominated readings to supplement the lecture material.
Feedback on Learning and Assessment
Feedback in this unit is provided in the following ways:
- Marking rubrics will be provided to show the expectations for each assessment item.
- Marking rubrics with comments will be returned to you via the online submission portal.
- Lecture / tutorial sessions are available for group and individual feedback prior to the completion of assessments.
- Generic comments will be provided via QUT Canvas and in class.
This unit will engage practising professionals to provide professional written feedback throughout the whole unit.
Assessment
Overview
The assessment in this unit aims to support your achievement of the learning outcomes and has been designed to provide the opportunity for you to perform real world tasks and develop skills in working with professional teams. The assessment has been designed in order to allow you to:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment);
- demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Workbook
As a specialist valuer, you will undertake an analysis of the primary value drivers of four specialised market sectors.
This is an assignment for the purposes of an extension.
Assessment: Report
Acting as a specialist valuer on behalf of either the acquiring authority or the claimant you will prepare a report to identify and quantify the relevant heads of claim applicable to the scenario.
This is an assignment for the purposes of an extension.
Assessment: Simulation - Team Challenge
Working in teams and acting on behalf of the Claimant or acquiring authority you will participate in a case conference negotiation exercise to discuss and negotiate the heads of claim that you identified in Assessment 2 on behalf of your client.
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Recommended text(s)
Australian Property Institute, 2007, Valuation Principles and Practice. 2nd ed. Australian Property Institute Deakin ACT. RICS (2017),
Baxter, J and Cohen R, 2009, Rural Valuation. Australian Property Institute. Deakin ACT.
RICS Valuation –Red Book Global (rics.org)
Risk Assessment Statement
There are no extraordinary risks associated with the classroom/lecture activities in this unit.
If you undertake a project, either individually or in a group, you may in conjunction with your QUT project supervisor, be required to complete and submit a Risk Assessment of your project activities in MAPS (Management and Assessment of Project Safety) for approval. For further information go to Health, safety and environment for research students - QUT Students
Additionally, if you undertake an industry project, either individually or in a group, you must ensure that the QUT project partner agreement is completed, respect confidentiality, be aware of any intellectual property requirements for the project and comply with workplace health and safety requirements, (either at QUT or at worksite). For further information please refer to the Work Integrated Learning - QUT Students webpage.
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.UD05 Bachelor of Property Economics
- Apply theoretical knowledge and technical skills, including fundamentals of building construction and knowledge of legal, social, cultural, and technological contexts, required to manage property assets and investment portfolios; analyse property markets, the drivers of property value and the feasibility of development; and identify future funding and transaction processes.
Relates to: ULO1, ULO3, Workbook, Report, Simulation - Team Challenge - Think critically and innovatively to solve problems by applying methodologies and calculations to identify innovative solutions and sustainability strategies and evaluate the feasibility of property development and investment opportunities.
Relates to: Workbook, Simulation - Team Challenge - Analyse data using current proprietary software and strategies to evaluate financial and property market trends to inform current and future property decisions.
Relates to: ULO2, Report, Simulation - Team Challenge - Communicate and collaborate strategically in professional contexts with diverse stakeholders
Relates to: ULO4, ULO5, Report, Simulation - Team Challenge - Display professional, ethical judgment and initiative, adapt to social, economic, technological and environmental challenges, and lead and manage people with consideration for different cultural perspectives and priorities.
Relates to: ULO6, Report, Simulation - Team Challenge
Unit Outline: Semester 1 2025, Online
| Unit code: | USB345 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | USB144 or USB242 |
| Anti-requisite: | USB343 |
Overview
Specialised Valuation is the capstone valuation unit and applies the valuation principles and procedures developed in USB142 Residential Valuation and USB144 Investment Valuation, to the more complex property classes such as rural land and the valuation of specialist properties that are based on the profit generated from the businesses operating from these properties.
Learning Outcomes
On successful completion of this unit you will be able to:
- Analyse unique property market segments and the drivers of property value.
- Apply valuation methodologies and calculations to property valuation problems.
- Identify and apply legislative compensation principles to statutory acquisition scenarios.
- Prepare and present a written report to a professional standard required of an expert witness as evidence in a court of law.
- Collaborate in a team to manage professional relationships and represent a party in a case conference meeting.
- Make professional and ethical judgments in relation to the role of the valuer as an expert witness.
Content
Learning outcomes will be achieved through coverage of the following topics:
- Rural property inspection procedures and application of valuation methodologies
- Rural property market analysis and reconciliation
- Rural valuation report
- Retail property valuation
- Classification of specialist premises
- Going concern valuations
- Business goodwill and value
- Valuation methodologies for boutique property types
- Boutique and special premises property valuation reports
- Evidence: the expert witness, professional liability understanding, and moot court experience
Learning Approaches
This unit engages you in your learning through a theory-to-practice approach, with a large proportion of the unit made up of practical application of basic theoretial concepts. This unit will involve some computer laboratory based blended lectures combined with formal training opportunities, online activites, studio sessions. Where lectures are held, these will convey the essential theoretical background to the unit, blended together with hands on experience and training in the nominated software. The assessment items are designed to help you understand and apply the key concepts via more practical application.
You will be expected to attend the formal software training sessions offered and complete the online activities prescribed. You will also be expected to undertake directed private study and read the nominated readings to supplement the lecture material.
Feedback on Learning and Assessment
Feedback in this unit is provided in the following ways:
- Marking rubrics will be provided to show the expectations for each assessment item.
- Marking rubrics with comments will be returned to you via the online submission portal.
- Lecture / tutorial sessions are available for group and individual feedback prior to the completion of assessments.
- Generic comments will be provided via QUT Canvas and in class.
This unit will engage practising professionals to provide professional written feedback throughout the whole unit.
Assessment
Overview
The assessment in this unit aims to support your achievement of the learning outcomes and has been designed to provide the opportunity for you to perform real world tasks and develop skills in working with professional teams. The assessment has been designed in order to allow you to:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment);
- demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Workbook
As a specialist valuer, you will undertake an analysis of the primary value drivers of four specialised market sectors.
This is an assignment for the purposes of an extension.
Assessment: Report
Acting as a specialist valuer on behalf of either the acquiring authority or the claimant you will prepare a report to identify and quantify the relevant heads of claim applicable to the scenario.
This is an assignment for the purposes of an extension.
Assessment: Simulation - Team Challenge
Working in teams and acting on behalf of the Claimant or acquiring authority you will participate in a case conference negotiation exercise to discuss and negotiate the heads of claim that you identified in Assessment 2 on behalf of your client.
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Recommended text(s)
Australian Property Institute, 2007, Valuation Principles and Practice. 2nd ed. Australian Property Institute Deakin ACT. RICS (2017),
Baxter, J and Cohen R, 2009, Rural Valuation. Australian Property Institute. Deakin ACT.
RICS Valuation –Red Book Global (rics.org)
Risk Assessment Statement
There are no extraordinary risks associated with the classroom/lecture activities in this unit.
If you undertake a project, either individually or in a group, you may in conjunction with your QUT project supervisor, be required to complete and submit a Risk Assessment of your project activities in MAPS (Management and Assessment of Project Safety) for approval. For further information go to Health, safety and environment for research students - QUT Students
Additionally, if you undertake an industry project, either individually or in a group, you must ensure that the QUT project partner agreement is completed, respect confidentiality, be aware of any intellectual property requirements for the project and comply with workplace health and safety requirements, (either at QUT or at worksite). For further information please refer to the Work Integrated Learning - QUT Students webpage.
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.UD05 Bachelor of Property Economics
- Apply theoretical knowledge and technical skills, including fundamentals of building construction and knowledge of legal, social, cultural, and technological contexts, required to manage property assets and investment portfolios; analyse property markets, the drivers of property value and the feasibility of development; and identify future funding and transaction processes.
Relates to: ULO1, ULO3, Workbook, Report, Simulation - Team Challenge - Think critically and innovatively to solve problems by applying methodologies and calculations to identify innovative solutions and sustainability strategies and evaluate the feasibility of property development and investment opportunities.
Relates to: Workbook, Simulation - Team Challenge - Analyse data using current proprietary software and strategies to evaluate financial and property market trends to inform current and future property decisions.
Relates to: ULO2, Report, Simulation - Team Challenge - Communicate and collaborate strategically in professional contexts with diverse stakeholders
Relates to: ULO4, ULO5, Report, Simulation - Team Challenge - Display professional, ethical judgment and initiative, adapt to social, economic, technological and environmental challenges, and lead and manage people with consideration for different cultural perspectives and priorities.
Relates to: ULO6, Report, Simulation - Team Challenge