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About Smartworks Learning Centre (School of Property Management)
Incorporated as Chambers International Training Centre Pte Ltd (“CITC”) in December 1995, Smartworks provided quality training in Real Estate through the organisation of relevant courses with strategic partners including the Singapore Polytechnic.
The Centre concentrates its efforts in real estate programmes because of the background and expertise of its key personnel.
In May 2003, as a result of a corporate re-structuring, CITC changed its name to Smartworks Learning Centre Pte Ltd.
It has established a strategic working relationship with the Singapore Polytechnic to conduct a number of courses. The courses are designed to provide quality technical training and upgrading of practitioners in the real estate and construction industry. They are:
- Property Management and Facilities Maintenance (Basic)
- Property Management and Facilities Maintenance (Advance)
The consultant and principal lecturers of the centre are senior practitioners who have acquired many years of experience in the construction and real estate profession. They are conversant with the needs of the industry, backed by many years of teaching and lecturing experiences in local tertiary constitutions such as the National University of Singapore and Polytechnics. The consultant is also actively engaged in delivering papers at international conferences and seminars.
PROGRAMMES OFFERED BY THE SCHOOL OF PROPERTY MANAGEMENT
(A) Singapore Polytechnic
Course Outlines for Bachelor of Business (Property) , UNISA
Introduction to Property and Valuation
The nature of real property and property markets; the legal, economic and physical environment for real property; data collection procedures; site and building inspection; valuation strategies and processes, value and market value, productivity and most probable use; comparison, income and summation approaches; national and international valuation standards.
Introduction to Property Economics
Introduction to property economics; urbanization and urban growth; characteristics and function of the urban property market; demand and supply factors influencing urban property markets; concepts of highest and best use; theory of urban land rent, land use and land value; models of urban structure; nature of housing markets; retail trade area analysis; provision of transport and infrastructure; role of government in urban planning, land management and development; patterns of inter and intra urban mobility.
Law of Property
The definition of "property" and the ability of the law to protect it; the distinction between real and personal property and choses in action; an outline of the operation of the Torrens system of land titles, together with an explanation of the role of legal and equitable interests in this area of law; indefeasibility of title, non-commercial succession to property, by will and by intestacy, trusts and the role of trustees. The passing of property by gift. New developments in the law of property; introduction to torts; trespass to land; occupier's and owner's liability; duty of care, negligence; use of disclaimers in professional reports; economic loss; professional liability; consumer law; common law; Trade Practices Act; Fair Trading Act; Land Agents Act.
Property Agency
Structure of real estate industry; why we have real estate agencies and what role they play in the property market; the legislative requirements of selling and leasing property; ethical behaviour expected locally and in selected international regions; appraisal of simple residential property; marketing and promotion of real estate including methods of sale; personal selling and negotiation techniques; documentation required in sale and leasing of property.
Property Investment
The valuation of cash flows, freehold and leasehold valuation models, mortgages and amortisation, the term structure of interest rates; investment decision techniques, sources of real estate returns; distributional characteristics of real estate returns; risk, return and diversification; valuation smoothing and its effect on property indices; the efficiency of the property market; inflation hedging; property financing and negative gearing, construction of property portfolios.
Property Market Analysis
Cross-sectional and time series property databases; measuring relationships using categorical and continuous data; correlation and simple regression models; multiple regression; application of regression to property market research, automated valuation models and grid adjustment valuation techniques; evaluation of models using IAAO standards; development and analysis of property price indices; distributed lag models, univariate time series models; time series smoothing and seasonality; methods used to develop property indices; application of appropriate computer software.
Property Management
Introduction to property management, marketing/legal. Management planning. Leases, consumer protection legislation. Leases, practical application. Tenant management and relations. Financial management and computerised accounting and reporting systems, theory and practical applications. Building maintenance. Building operations. Risk management and insurance. retailing and shopping centre management. Rental reviews, processes and valuations.
Property Development
Introduction to the property development process and participants; inception and refinement of the development idea through market research; the public roles and development approvals; the formal feasibility study; DCF applications in feasibility and lifecycle analysis; valuation of development land and incomplete property developments; financing the development contracts; commitment and construction; completion, marketing and management; development of residential land subdivisions; development of retail property; development of hotel and mixed use property.
Statutory Valuations
Rating and taxing: land defined; the distinction between fittings and fixtures; the rating and taxing bases, legal definitions and case law; computer assisted mass appraisal; ratio studies. Compulsory acquisition: compensation principles and practice, 'piecemeal' and 'before and after' approach; heads of compensation; reinstatement; solatium; easements. Insurance valuations: indemnity; reinstatement; legal definitions and case studies. Valuations for financial reporting purposes; business goodwill.
Advanced Property Valuation
Valuation concepts and definitions; income and expenditure estimation; cash flow projections; lease analysis; incentives and tax treatments; real estate, business and economic cycles; risk and return assessment and analysis, partial interests; comparison of traditional and contemporary valuation methods; application of valuation methods.
Marketing Principles: Trading and Exchange
This course introduces students to the role and contribution of Marketing Principles and thinking to achieving positive net revenue outcomes for most organisations and enterprises today. Marketing and marketing people are used in, and by, most types of organisations both big and small; for example, commercial, government, educational, artistic and social. The course will cover the main concepts and principles that underlie marketing thinking and practice. It will require students to understand these and also find out how they are applied in a range of enterprises.
Personal Selling
Sales management functions, including selection, training, deployment, evaluation and compensation of the sales force; the role of the sales force in channel management; ethics and trust; the importance of understanding buyer behaviour; necessary communication skills in personal selling; the selling process, including prospecting, initiating customer relationships, effective sales presentations, negotiation and gaining commitment, account management and enhancement of customer relationships.
Market Research
The role of market research in an organisation, overview of the Australian market research industry, briefing & choosing a research provider, key stages in a research project, what constitutes “good” research, ethics & privacy issues, qualitative research, reliability & validity, sampling & non-response, questionnaires, overview of quantitative data types, fieldwork management, overview of data analysis tools, secondary & internal data, designing a research system, future trends in market research.
Marketing for Services
The distinctive aspects of services marketing and management; Customer involvement in service processes; Customer behaviour in service settings; Customer satisfaction and expectations in service settings; New customer acquisition; Managing customer relationships; Customer complaint management and service recovery; Strategic marketing issues (price, product, place and promotion); Capacity and demand management; Internationalisation of services.
