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SALES
ACCELERATION

Assessment

Brought to you by Leverage Academy
Bailey Compton


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LEARNER DECLARATION     

    I hereby submit these assessment tasks for the unit listed above and certify that all work contained therein has been completed by me that no part has been completed or copied from any other person.
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    I have referenced and/or acknowledged all necessary authors.
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    I have kept a copy of my assessments.
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    I understand Leverage Academy is not responsible for assessments lost in transit.
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    I will resubmit at my own cost and time in the event I do not keep a copy of my assessment
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    I understand that Leverage Academy will provide my employer upon request, access to my training records and results (where the employer is funding this learning) .
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    I understand that federal and state agencies have the right to access any of my assessment materials for auditing and monitoring purposes.
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    I consent that Leverage Academy may use my de-identified assessment for internal moderation and validation purposes.
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    I understand that if a third party requests my results that Leverage Academy will only provide them with my written permission.
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    Full Name
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    Surname:
    Address:
    
    Contact Number:
    Email
    Signature:
    
    Date:

Note: A trainer/assessor has the right to refuse to mark this assessment if the above declaration has not been signed. This Assessment Booklet is to be completed and returned to the Academy within Twelve (12) weeks of completing the course. Once you are assessed to be Fully Competent, your Academic Transcript will be forwarded to you. If you are assessed to be Not Yet Competent, further assessment tasks will be forwarded for you to complete (at no additional cost). However, if a third assessment is required, this may be done in face-to-face tutorial mode, and will incur an additional fee. If you have any questions relating to the assessment tasks, please do not hesitate to contact one of the trainers at the Academy via email at [email protected]



    LEARNER INSTRUCTIONS:     

    I have read the Student Handbook found at: https://www.leveragegroup.com.au/wpcontent/uploads/2017/03/ Participant_Handbook_20170104_V9.pdf
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    I will keep my documents safe and secure at all times.
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    If any part of this process is unclear, I will contact Leverage Academy Student Centre on (02) 9659 4025 or Email:
[email protected]
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    I will use my Study Guide as a reference tool to answer all questions.

Note: You are not required to fill in all lines provided for each question.
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    Where necessary, I have attached supporting documents which are clearly identified in line with the specific question.
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    Where required, I have completed any agreements, forms and contracts required for this assessment. I have done so in FULL and understand that partial completion will not be accepted.
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    I have read, dated and signed the Student Declaration at the front of this Assessment.
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    I authenticate that this work is mine and I have signed each page of this assessment.
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    I have taken a photocopy of my completed Assessment and any written submissions.
Note: Leverage Academy takes no responsibility for assessments lost in transit.
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    I will return my completed assessments to:
Post : Leverage Academy GPO Box 159 Sydney NSW 2001
Email: [email protected]
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ASSESSMENT INFORMATION:     
The Sales Acceleration assessment cover the elements and performance criteria for the following units of competency:
Unit code     Unit name

CPPDSM4003A     Appraise property
CPPDSM4012A     List property for sale
CPPDSM4014A     Market property for sale
CPPDSM4022A     Sell & finalise the sale of property by private treaty
CPPDSM4019A     Prepare for auction & complete sale
CPPDSM4016A     Monitor & manage lease or tenancy agreement

These units form part of the CPP40307 Certificate IV in Property Services (Real Estate) under the Australian Qualification Framework and Licensing under NSW Fair Trading.

Assessment structure:
PART A – Multiple Choice Questions
PART B – True or False Questions
PART C – Yes/No Questions
PART D – Short Answer Questions
PART E – Extended Answer Questions
PART F – Activities
PART G – Workplace Situation Activities


PERFORMANCE CRITERIA AND ELEMENTS:


Every assessment for a Unit of Competency within the Australian Quality Framework (AQF) is structured around Performance Criteria and Elements. To access the performance criteria and elements go to www.training.gov.au and search for unit code.


YOUR RESULTS:

If your assessment is marked not yet competent, you will be provided with clear feedback on what additional information is required via the student assessment record form and/or verbally.
To check the progress of your assessment, you are welcome to call 1300 438 538.

    PART A:     Multiple Choice Questions: (please circle the correct answer)     
    1. A real estate agency is selling a property under the terms of a valid agency agreement. The sales person who executed the agency agreement has a Certificate of Registration, however this sales person is currently registered at Fair Trading as still working for her former employer. Which statement is true:
The agency is entitled to its commission, because the agency agreement has been completed correctly.
2. There are a number of reasons why an agency might run the risk of not being entitled to claim its commission. What statement is incorrect?
The agency is not entitled to its commission where the agent is not the holder of a licence.
3. When estimating the likely selling price of a property, the agent must not:
Estimate the selling price on reasonable grounds.


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    4. What section of the Australian Consumer Law prohibits misleading or deceptive conduct?
Sec 18.
5. A managing agency agreement is invalid if:
Prepare an inspection report that will set out the estimated market price of the business.
6. When a managing agency agreement is invalid:
The rent roll is able to be sold, because, a new agency agreement is always signed (with each landlord) by the incoming purchaser/managing agent.
    8. The agent is the affective cause of sale:

Only if the agent’s name is noted on the particulars page of the contract.

9. If you are leasing commercial property, you:

Need an agency agreement appointing you to manage a commercial property.

10. What licence do you need to sell a property which is 10 hectares in size?

All you require is a Certificate of Registration.


PART B: True or False (please circle the correct answer)

    1. An agent does not need to have available a draft copy of the contract for sale of land to show a prospective purchaser, if the property is residential and is over 2.5 hectares.
False
2. No managing agency agreement is needed for an agent to manage industrial property.
False
    3. No record needs to be maintained when giving “quotes” to prospective purchases.
True
4. When advertising a property, it is lawful to use the term ‘offers invited from …’.
True
5. If you are selling a farm business with land, a stock and station agents licence is sufficient.
True
6. All registered bidders at an auction must receive the consumer education guide, otherwise known as the Bidders Guide.
    True     

PART C: Yes or No (please circle the correct answer)
    1. The legal presumption under Section 55 of the Property, Stock and Business Agents Act 2002, is that an agent is entitled to be paid for their services.
    Yes     
2. When used to complete an agency agreement, the phrase ‘as per contract’ is a breach of the regulations.
    Yes
3. An agent must amend the agency agreement when lowering the reserve at an auction.
    No
4. The terminology, “Price +” is lawful.
    No
5. A vendor may be required to pay two (2) commissions, if a purchaser is introduced by one agent and later buys the property through another agent.
    No
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    6. At an auction, can a person bid on behalf of another, provided that he/she can produce, in writing, an authority from that person?
    Yes
7. A person has bid on behalf of another person and provided a letter of authority when they registered to bid and is subsequently the successful bidder at the fall of the hammer. Can this person then sign the Contract for the Sale of Land on behalf of the purchaser?
    No

PART D: Short Answer Questions
For questions in Part D, you will need to provide answers that directly address the question. You may answer in point form. Ensure that you answer all parts of the question.

1. Name and describe three methods of sale.

1. Private sales between vendor and seller

2. Auction

3. Express Sales
2. Explain with examples, what is an encumbrance on title. Include four types of encumbrances.
    Answer: The encumbrance is a type of restriction that involves control over the aspect of using funds. It is used to ensure that sufficient funds exist to meet certain obligations in public accounting. Governments use encumbrances to avoid overspending on their finances. In the case of a lawsuit against a property, an immobilization permit is sometimes used. This is used, for instance, when the property has a tax liability which makes it impossible to transfer it to a new owner. This responsibility limits rules, such as zoning regulations or specific building forms on land, which the property must comply with.
Types of encumbrance – 1. Lien, 2. Restriction of Deeds, 3. Easy Ownership, 4. Encroachment of Property (Avery & Witt 2019).
3. In what circumstances would the cooling-off period for a contract not apply?
    Answer: Cooling off period may not be applicable on a contract if the property belongs to Western Australia or Tasmania.
4. What information does a 149 Certificate provide?

Answer: Section 149 Certificates are official legal documents issued by the NSW Council in accordance with the provisions of the Environmental Planning and Appraisal Act of 1979. The Certificate is also known as the zoning certificate. They contain information on the use of a property and relevant construction constraints.
5. What are the essential elements, as prescribed in legislation, of a valid agency agreement? (Refer to Property Stock and Business Agents Regulations 2014 Schedule 7)
Answer: Essential Elements
a. Proposal
A legal contract must contain the first part of proposal. A contract is necessary for a bid or commitment or an arrangement and, if there is no request or proposal, no deal would occur.
b. Acknowledgement
There should be acknowledgement after a bid in the deal. Acceptation by the other side or individual should be given for a contract to be concluded.
c. Consideration
Consideration in the contract is also a very necessary factor. If the deal is known, the other party would return something in exchange.
d. Establishing a legal relationship
In a contract it is necessary to have this aspect. It is necessary to establish legal ties, although the Contracts Act 1950 does not contain the intention to establish legal relations as a condition of a legitimate contract.
e. Certainty
Certainty will be another essential aspect in a deal. The contract terms and rules should be explicitly defined and accepted by the negotiating parties.
f. Capacity
The negotiating parties shall have the capacity to do so in compliance with the legal provisions of a contract. The age of a student is 18 years. 18 years old. Minors under 18 years of age are forbidden to enter into contracts.
7. Name seven types of land title.
Answer:
a. Torrens title
Torrens title or 'Freehold' is the most common form of property when you own both the house and estate or assets for yourself. The Torrens title encompasses several residential and business properties in Australia. The property is owned by the owner of the title. If the mortgage still exists, the certificate shall be maintained by the financial institution until the title owner is completed with the mortgage.
b. Limited Torrens title
Some title properties in Torrens have no proper limits as they are not properly examined. You can have it tested by paying a cost to validate the limits of this type of property (Gurner 2018). The Restricted Torrens title can therefore be translated to a regular Torrens title.
c. Strata title
A strata title land owner still owns the unit inside but not the outside. This type of properties are typically apartments or townhouses.
d. Leasehold title
Leasehold land is typically owned by the government in rural areas but rented to an individual for a while. Such an estate may be a dairy farm, a wheat field, or a chapel. The government has the right to rule on land ownership. Both properties are licenced in Australian Capital Territory.
e. Company title
This form of property title was used widely before the layers were invented in the 1960's. Description of the firm means you buy shares in the building's business.
f. Community title
Title Community is a type of property title in which many people share and own the property. It's quite similar to the title of the strata, but it is used for large properties like a district or a district. Group title encourages the protection of the shared space for both members.
g. Retirement villages
Renovation villages have multiple title forms. The register of land...