Course Title: Valuation of Rural Property

Part A: Course Overview

Course Title: Valuation of Rural Property

Credit Points: 12

Terms

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,
Sem 2 2017,
Sem 2 2018,
Sem 1 2019,
Sem 2 2019,
Sem 1 2020,
Sem 2 2020

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

You should have satisfactorily completed the prerequisite courses

Enforced Prerequisite 011270 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

Program Learning Outcomes (PLOs)

In this course you will develop the following program learning outcomes
  • PLO1: 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
  • PLO2: Integrate and apply the specialist knowledge and technical skills required to address industry problems and/or commercial opportunities in property
  • PLO3:Research and analyse theoretical knowledge and published data to address the diverse requirements of property stakeholders, formulating strategic business solutions for complex property project
  • PLO4: Professionally communicate property strategy, processes, propositions and/or decision making across the property and related sectors, leading and negotiating effectively with diverse stakeholders


Course Learning Outcomes (CLOs)

Upon successful completion of this course, you will be able to:

  1. CLO1: Identify and analyse current social, economic and political issues that affect Rural Communities and the Valuation of Rural Land
  2. CLO2: Identify how both local and global economic drivers impact on rural property markets.
  3. CLO3: Research, analyse and synthesise secondary data to produce a valuation report.
  4. CLO4: 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.

Task 1: Individual: The first task requires students to research and critically analyse factors and legislation that are unique to the valuation of rural property 50% CLO1, CLO2,  

Task 2: Individual: A full rural valuation report is produced based on site visit in regional Victoria 50% CLO1, CLO2, CLO3, CLO4

Feedback will be given on all assessment tasks.

Equitable Learning Services

Equitable Learning Services (ELS) provide support and equal opportunities for students with a disability, long-term illness and/or mental health condition and primary carers of individuals with a disability. You can contact the ELS if you would like to find out more: https://www.rmit.edu.au/students/support-and-facilities/student-support/equitable-learning-services. You can also contact the course coordinator or the program coordinator 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 as those of your teaching staff. 

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.