Course Title: Valuation of Rural Property

Part A: Course Overview

Course Title: Valuation of Rural Property

Credit Points: 12


Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

OMGT2070

City Campus

Postgraduate

325H Property, Construction & Project Management

Face-to-Face

Sem 2 2008,
Sem 2 2009,
Sem 2 2010,
Sem 2 2012,
Sem 2 2013,
Sem 2 2014,
Sem 2 2015,
Sem 2 2016

Course Coordinator: Judith Callanan

Course Coordinator Phone: +61 3 9925 2644

Course Coordinator Email: property@rmit.edu.au

Course Coordinator Location: 8.8.8

Course Coordinator Availability: by appointment


Pre-requisite Courses and Assumed Knowledge and Capabilities

From 1 January 2016

Enforced Prerequisite 011270 Valuation Techniques & Property Analysis

 Prior to 2016

You should have satisfactorily completed the prerequisite course OMGT 1165 Valuation Techniques & Property Analysis before you commence this course


Course Description

The course will develop the skills and knowledge required to value rural land. The course  focuses on the factors that create value and influence  change in the use of  rural land. You will examine  the impact of economic indicators, environmental influences and  market trends on the value of rural asset classes.

You will develop your knowledge of the physical aspects of rural land  and  your ability to professionally communicate and make recommendations for the highest and best use of rural land.. This course builds on your knowledge of  valuation  theory and practice to determine the value of a rural asset class.   You will critically examine how a range of economic, and environmental factors impact on the value of rural land. You will develop your knowledge of  a broad range of current rural issues and trends in farming and the implications of these for the property industry. Topics covered in this course include :infrastructure, water availability/rights, farm management, and  sustainable practice. 

This course includes a field trip that involves onsite activities, presentations from local farmers and professionals. These site visits will provide you with to learn first hand from farmers and rural professionals about the nature and opportunities and challenges within a rural property context.  Please note that course enrolment fees do not include field trip costs. Refer to the Course Coordinator and Part B course guide for the itinerary; travel and accommodation costs; tour costs and deadlines.

The field trip is usually conducted mid semester. 
 



 


Objectives/Learning Outcomes/Capability Development

This course will develop the following program learning outcomes:

  • Determine and apply advanced knowledge of complex property theory to inform decision making in the local and global professional arena, demonstrating expert judgement and ethical decision making in your professional practice and discipline
  • Integrate and apply the specialist knowledge and technical skills required to address industry problems and/or commercial opportunities in property
  • Research and analyse theoretical knowledge and published data to address the diverse requirements of property stakeholders, formulating strategic business solutions for complex property projects
  • Professionally communicate property strategy, processes, propositions and/or decision making across the property and related sectors, leading and negotiating effectively with diverse stakeholders


Upon successful completion of this course, you will be able to:
1. Identify and analyse current social, economic and political issues that affect Rural Communities and the Valuation of Rural Land
2. Identify how both local and global economic drivers impact on rural property markets.
3. Research, analyse and synthesise secondary data to produce a valuation report.
4. Professionally communicate and justify valuation decision making to diverse stakeholders 
 


Overview of Learning Activities

 Your learning in this course will be developed through tutorials/workshops. Learning activities will include group work, group exercises, class discussions, debates, field trips and individual investigation.
 


Overview of Learning Resources

RMIT will provide you with resources and tools for learning in this course through our online systems. A range of learning resources are provided for this course including a text book, media articles, valuation reports, legislation .


Overview of Assessment

You will be assessed on how well you meet the course’s learning outcomes and on your development against the program learning outcomes. Assessment may include project-based assignments, a valuation report and an analysis of a conference presentation.

For further details about your assessments in this course including the assessment criteria please refer to your Assessment Guides.

If you have a long term medical condition and/or disability it may be possible to negotiate to vary aspects of the learning or assessment methods. You can contact the program coordinator or the Disability Liaison Unit if you would like to find out more.
An assessment charter (http://mams.rmit.edu.au/kh6a3ly2wi2h1.pdf ) summarises your responsibilities as an RMIT student as well a s those of your teachers.
Your course assessment conforms to RMIT assessment principles, regulations, policies and procedures which are described and referenced in a single document: http://www.rmit.edu.au/browse;ID=ln1kd66y87rc