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Microsoft Word - AT Agent's Rep (ID 13727).docx ASSESSMENT TASKS CPP40307 CERTIFICATE IV IN PROPERTY SERVICES (REAL ESTATE) A G E N T ’ S R E P R E S E N T A T I V E C P P D S M 4 0 0 7 A I d e n t i f y l e g a l a n d e t h i c a l r e q u i r e m e n t s o f p r o p e r t y m a n a g e m e n t t o c o m p l e t e a g e n c y w o r k C P P D S M 4 0 0 8 A I d e n t i f y l e g a l a n d e t h i c a l r e q u i r e m e n t s o f p r o p e r t y s a l e s t o c o m p l e t e a g e n c y w o r k C P P D S 4 0 8 0 A W o r k i n t h e r e a l e s t a t e i n d u s t r y T A TASK 2K © 2015 REAA ASSESSMENT TASK 2 Assessment Task 2: Working in real estate What you need to do: § For this assessment task you will undertake research and report on various aspects of working in the real estate industry. What you will need: § Research materials such as books, internet, magazines, workplace documentation etc. § Access to legislative and regulatory documentation What you need to submit: § Your report. Instructions You will need to research information and/or visit a local agency to assist with your responses for this task. You should use a variety of sources to gather information including training resources, workplace policies and procedures (if you are able to access these) and government and industry bodies. You are required to provide information about the following points. You must prepare a written response to each point, which can be supported by example documentation as required. Ensure material is referenced appropriately. Your industry report must cover the following topics: a) Real estate agency structure and personnel § Identify the various business ownership options and services offered by real estate agencies. § Provide an outline of a typical organisational structure for a real estate agency. § Provide an overview of agency staff roles and responsibilities including administration, agents and agent’s representatives and management. § You must address legislative liabilities and responsibilities (refer to appropriate sections of the relevant Act for your state or territory). b) Key agencies and industry bodies. Provide a detailed overview of the following agencies (refer to your own state or territory where required), including any legislative powers they have. § Consumer affairs/fair trading § Civil and administrative tribunal § Estate agents council/property board § Residential tenancies bond authority/board § Real Estate Institute of Australia (REIA). c) Legislative requirements © 2015 REAA CPP40307 Certificate IV in Property Services ASSESSMENT TASK 2 § Identify the legislation in your state or territory relating to regulation of the real estate industry, including property sales and management. § Identify and document how agencies maintain up-to-date records of legislation and industry codes. § How are amendments to legislation and industry codes tracked and communicated to staff? d) Ethical and professional conduct standards § Identify and name the legislation in your state or territory relating to ethics and professional conduct of estate agents and agent’s representatives. § Discuss the objective of the regulations. § What are the obligations contained in this legislation. e) Client service standards § Identify and outline strategies for the implementation, monitoring and review of client service standards. f) Risk management § Identify and outline strategies for identifying and assessing risks. § Provide examples of policies and procedures for minimising and treating risks. How are these procedures monitored and reported on? © 2015 REAA ASSESSMENT TASK 2 Project 2 What you need to do: § Research and identify the penalties for breaches of the relevant estate agent’s Act in your state or territory. What you will need: § Research materials such as books, internet, magazines, workplace documentation etc. § Access to legislative and regulatory documentation relevant to own state or territory. What you need to submit: § Your responses in the table below. The Act for your state or territory: Obligation Maximum penalty for breaching your obligation Section of the Act You must not act as an estate agent unless licensed to do so. You must not act as an agent's representative unless you are eligible to be employed to do so. You must not permit or assist a person who is not licensed to carry on the business of an estate agent. You must not publish or authorise the publication of an advertisement that is false or misleading. You must not market a property for sale at a lower price than your estimated selling price (commonly referred to as underquoting). You must not purchase or indirectly benefit from the purchase of any real estate or business you are engaged to sell. © 2015 REAA ASSESSMENT TASK 2 The Act for your state or territory: Obligation Maximum penalty for breaching your obligation Section of the Act You must keep trust money in a separate and current trust account at an authorised financial institution. You must not fraudulently use trust money or falsify trust accounts. Microsoft Word - AT Agent's Rep (ID 13727).docx ©2015REAA CPP40307CertificateIVinPropertyServices(RealEstate) Assessment Task 5: Role plays What you need to do: § Actoutthefollowingroleplayswitha friend or colleague. What you will need: § Researchmaterialssuchasbooks,internet,magazines,workplacedocumentation etc. § Roleplayparticipants What you need to submit: § Anydocumentationrequiredaspartoftheroleplays(forexample,thelandlord’sinstructionforminroleplay1). Role play 1 – Instructions Your friend / colleague will play the role of one of the landlords (Ian or Rebecca). YouaremeetingwithIanandRebeccaHarrison,thelandlordofthepropertyinAssessmentTask3.Usingtheinformation fromthescenario,discusstheirrequirementsformanagingtheproperty. Completea‘Landlord’sinstruction’form. Yourassessorwillbelookingforthefollowing: § Demonstrationofeffectivecommunicationtechniquesto: – establishrapportwithclients – determineclientneeds – provideaccurateadvice – addressclientconcerns. § Abilitytosummarisethelandlord’srequirementsandcompletethenecessarydocumentationinatimelyandaccurate manner. ©2015REAA CPP40307CertificateIVinPropertyServices(RealEstate) ASSESSMENT TASK 5 Role play 2 – Instructions Yourfriend or colleaguewillplaytheroleofthetenant (Aaron). Aftermovingintotheproperty,Aaronfindsthatthebathroomtapsareleakingandtherollerdoorforthegarageisnot workingproperly.Hereportsthesetoyouintheappropriatemannerasrequiredbyyouragency.Youcontacttheownersto seekapprovalfortherepairs,onlytofindthattheyhavegoneonholidaysforthreeweeksandarenotcontactable.Under youragreement,youneedtheirauthorisationtoproceedwithanynon-urgentrepairs. Twoweekslater,youreceiveaphonemessagefromAaron.Hesoundsangrybecausehehasn’theardbackfromyouin regardstotherepairs.Yourealisethatyouhadforgottentocallhimback.Youmakeanotetocallhim,butarecaughtupin anotherurgentmatter. Thenextday,Aaroncomesintotheoffice,heisveryangry.Hehasanewcarandheisunabletogetintohisgarage,thetaps areleakingandyouhaveignoredhisrequestandphonecall. Yourassessorwillbeobservingyourabilitytodealeffectivelywiththissituationusingeffectiveconflictmanagement techniquesandcommunicationstrategies. Role play 3 – Instructions Yourfriendwillplaytheroleofthevendor(Monica). Theroleplayisintwopartsandyouwillneedtocompleteeachone. Part1 Youareworkingasanagent’srepresentativewithasuburbanrealestateagency.Monicaownsaninvestmentproperty whichiscurrentlymanagedbyyouragency. ThepropertyisaunitincentralRingwoodclosetoamajorshoppingcentre,trainstationandaccesstoEastlink.Ithastwo bedrooms,onebathroom,openplanlivingareawithkitchen/mealsarea.Featuresincludeagasheater,airconditioning,a small,easytomaintaincourtyardandlockupgarage. Monicaisawarethatthecurrenttenanthasaleasethatendsintwomonths’time.Sheishappytoprovidetherequisite noticeandallowtimeforthehousetosellatasuitableprice. DiscussthepropertywithMonica(playedbyyourfriend )withaviewtoobtaininganewlisting.Intheprocessofdoingso, youwillneedto: § establishrealisticexpectationswithMonicaandagreeonanestimatesaleprice § provideinformationonmarkettrendsandanyinformationrelevanttothelocation § providemarketingoptionsjustifyingtheoptionswhichyoupresent § agreeonthesalesmethodandadvertisingmethodsandcosts § recordanyinstructionsthatMonicahas § outlinetheprocessthatyouwillimplementtoactontheinstructionsoftheclient. ©2015REAA CPP40307CertificateIVinPropertyServices(RealEstate) ASSESSMENT TASK 5 Part2 ItistwomonthssinceyouhavelistedMonica’spropertyandstilltheunithasnotbeensold.Thetenanthasvacatedthe propertyandyouhavehadsomeinterestdisplayedbypotentialbuyerswhohaveinspectedthepropertybuttheyhavenot madeanoffer. Monicaarrivesasyourofficeangryandupset.Shetellsyouthatyouhavenotdoneenoughtoproperlymarketandsellthe propertyandthatsheisgoingtogotoanotheragency.Shebelievesthatsheisentitledtoarefundofalladvertisingcosts asyouhaveprovidedadequateservice. YouneedtodemonstratehowyouwilldealwiththesituationtoensurethatMonica’sconcernsaredealtwitheffectively.In doingsoyoumustaddressanyagencypoliciesandproceduresregardingconflictresolutionandcustomercomplaints(where applicable)andtakeintoaccountanyethicalandconductstandardsapplyingtothesituation. Role play 4 – Instructions Yourfriendwillplaytheroleofthepotentialbuyerandwillprovideyouwithfurtherinformation(ieinregardstothe buyer’sneeds)duringthecourseoftheroleplay. Youareworkingasanagent’srepresentativewithasuburbanrealestateagency.Anitaislookingfortobuyapropertyin yourlocalarea.YoumeetwithAnita,whotellsyouherrequirementsregardingwheretheywouldliketoliveandtheir familyneeds. Inthisroleplayyouwillneedtodemonstrateyourcommunicationskills.Duringtheroleplay,yourassessorwillbelookingfor yourabilityto: § demonstrateeffectivecommunicationskills § establishrapportwiththeclient § determineclientneeds § provideappropriateadviceaspertheclient’sneeds § conductfollow-upservicesasappropriate. Microsoft Word - AT Agent's Rep (ID 13727).docx © 2015 REAA CPP40307 Certificate IV in Property Services ASSESSMENT TASK 4 Assessment Task 4: Case studies What you need to do: § Read each case study and respond to the questions, referring to Acts and regulations relevant to your state or territory. What you will need: § Research materials such as books, internet, magazines, workplace documentation etc § A copy of the relevant estate agent's Act for your state or territory. What you need to submit: § Type up your responses to each case study in Microsoft Word and submit a printed copy for assessment. § Submit any documentation/forms required. Case study 1 Chris is the principal agent at City Real Estate. He has built the agency over the last six years and he has established a strong client base and reputation within the local region. He has several experienced employee agents and agent’s representatives working for the agency. Bethany has been working as administration manager for City Real Estate since its inception and has worked closely with Chris to build the business. She displays a keen interest in the real estate industry and over the years has developed an excellent working knowledge of various aspects of an agent’s role. She has decided to undertake training to become an Agent’s Representative. Chris was recently offered a teaching position at a local TAFE. As a result he is spending less time in the office, sometimes not coming into the office for days in a row. He is confident that the staff will continue to provide excellent service. Last week one of the agents responsible for property management resigned and Chris has asked Bethany to conduct some urgent rental property inspections and prepare the condition reports. a) Identify any breaches under the relevant Act for your state or territory. You must refer to the appropriate section. b) What advice would you give Bethany and Chris? c) How will any breach of the Act impact on Bethany's eligibility to be an agent's representative? © 2015 REAA CPP40307 Certificate IV in Property Services (Real Estate) ASSESSMENT TASK 4 Case study 2 Marissa is an agent’s representative with ABC Real Estate. Graham is looking to purchase an apartment in an inner city suburb and has shown keen interest in a small apartment that Marissa has listed. Graham tells Marissa that he is looking for an apartment in a quiet area as he works night shift and needs to sleep during the day, especially on weekends. Marissa is excited because this apartment has been listed for over two months and she really wants to close the sale before she goes on holiday next month. However, she knows that the apartment block backs on to a street that has a church. Each Sunday morning, church bells are rung and the area can become quite noisy as people come and go. a) Should Marissa tell Graham about the church? Discuss the ethical issues relating to this scenario. b) What advice would you give Marissa? Case study 3 Rashid has engaged Rita to sell his property. Rita’s brother, Marco, is looking for a house in the area and after viewing the house; she believes that the house is exactly what Marco is looking for. She rings Marco to tell