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Work in the Real Estate Industry (CPPDSM4080A)

12 Feb

Assessment activities
The activities contained in this document are outlined below.
Part 1: Short answer questions
•    This section consists of 5 short-answer questions.
•    Question 2, 3 & 5 consist of multiple parts.
Part 2: Research project
•    This section consists of 4 questions.
•    You are expected to conduct your own research to answer these questions.
Part 3: Case study
•    This section consists of 6 questions based on a simulated scenario.
•    You will also be required to access the internet to conduct some research and undertake additional reading.
We are here to help
If you have any questions about this assessment you can email us at realestate@kaplan.edu.au. You can expect an answer from one of our technical advisers or student support staff.
Part 1: Short-answer questions
Question 1
Briefly explain the difference between the following three (3) forms of business ownership for real estate agencies, in terms of liabilities and responsibilities for the business owners:
•    sole trader
•    company
•    partnership.
<type your answer here>

Question 2
(a)        What is the name of the agents Act under which real estate agents operate in your state/territory?
<type your answer here>

(b)        For your state/territory, name the regulatory authority that is responsible for administering the provisions of the Act you have listed for part (a) above.
<type your answer here>

(c)        Besides the legislation you have listed in part (a), make a list of at least two (2) other key pieces of legislation that impacts on agency operations in your state/territory and identify where/how you might access this legislation.
<type your answer here>

(d)        List two (2) rules of conduct/ethical standard specific to agents in your state/territory and for each provide an example of how this rule of conduct/ethical standard could be breached by an agent.
<type your answer here>

Question 3
Visit the web site of the following government agencies and explain their role as it relates to the property sector.
(a)        Australian Competition and Consumer Commission (ACCC)
<type your answer here>

(b)        Office of Privacy Commissioner
<type your answer here>

(c)        Australian Human Rights Commission
<type your answer here>

(d)        Safe Work Australia
<type your answer here>

(e)        Fair Work Commission.
<type your answer here>

Question 4
Explain the relationship between the role of the licensed estate agent and the agent representative employed by them.
<type your answer here>

Question 5
(a)        Describe three (3) different situations where you may be required to seek specialist advice when working in the real estate sector.
<type your answer here>

(b)        For the three (3) above circumstances you have identified, what particular expert advice would you need to source for each, and the reasoning behind your answer.
<type your answer here>

Part 2: Research project
Choose an agency that you can access, either by carrying out observation in person or online.
Question 1
List the name of the chosen agency. Describe how you conducted your research — e.g. online, interview, observation or combination.
<type your answer here>

Question 2
What property services licences does this business hold and how were you able to ascertain this information? Hint: property services licences refer to type of licence class/category e.g. Corporation, Licensee, Agent Representative Etc.
<type your answer here>

Question 3
What are the key areas of operations (i.e. scope of services) that this agency provides: example, residential sales only, residential sales and property management, commercial management etc.?
<type your answer here>

Question 4
Briefly outline the main roles/ responsibilities of key agency personnel working in the agency? If you are unable to conduct an interview, you may be able to gather information about the roles and responsibilities from the agency’s web site, most of which have information ‘about us’ or ‘our team’, or there may be an organisational chart.  In your response, explain how you obtained this information.
<type your answer here>

Part 3: Case study
Question 1
You are about to be interviewed for a new position in real estate, it can be either a sales or property management role.
How do you intend to ensure your personal presentation and professional image provide you with the right starting point for a career in real estate?
<type your answer here>

Question 2
You are given the interview questions before hand to allow time to prepare. For these interview questions below, prepare brief notes as your personal response.
Describe two (2) different interpersonal communication skills or strategies that you would use for each of the tasks below:
(a)        establishing rapport with clients
<type your answer here>

(b)        determining client needs
<type your answer here>

(c)        providing accurate advice and follow up services.
<type your answer here>

Question 3
You are successful in obtaining this new position in the real estate agency, and your agency licensee/manager asks you to prepare a short plan that sets out opportunities you can identify for continuing training to develop your competence and then progress to specialist or advanced skills over the next 12 months. This involves you assessing your own existing personal knowledge and skills in providing real estate services and nominating a plan to address any priorities in your training needs, including how you might obtain the training to meet your identified needs. For example: you might identify that you need to update your computing skills to use agency databases more efficiently, so you might nominate where you could obtain this training.
Note: If your state has any mandatory CPD requirements for renewal of your registration or licence, you will need to reflect these in your answer to show that you understand how your professional development plan incorporates this regulatory requirement.
<type your answer here>

Question 4
As you are about to start your new job in the property sector, it is vital that you understand employee and employer rights and responsibilities regarding conditions of employment. On the Fair Work Australia website:
(a)        access and read the information provided about the National Employment Standards: <https://www.fwc.gov.au/creating-fair-workplaces/the-national-workplace-relations-system/national-employment-standards-0&gt;, and list three (3) employee rights/responsibilities and three (3) employer rights/responsibilities in the following table:
Employee rights or responsibilities    Employer rights or responsibilities
1
2
3

(b)        access and read through the current National Real Estate Award: <https://www.fwc.gov.au/documents/documents/modern_awards/award/MA000106/default.htm&gt;, and refer to section 4.1 Minimum Weekly Wages. List all the different classifications of employment in the current Real Estate Award, and the minimum weekly wage for each classification.
<type your answer here>

Question 5
Carry out your own research on the website for your state’s/territory’s regulatory authority/licensing body and in your Agent’s legislation.
(a)        List all of the eligibility requirements for employment as a real estate agent representative in your state/territory (please note: requirements should include criteria that make you eligible as well as criteria that make you ineligible).
<type your answer here>

(b)        List all of the eligibility requirements for obtaining an estate agents licence in your state/territory (please note: requirements should include criteria that make you eligible as well as criteria that make you ineligible).
<type your answer here>

(c)        What are the penalties involved with operating without an appropriate licence or registration to work in the property industry in your state/territory? Hint: check the early sections of the Act applicable for your state/territory, and/or the regulatory authority web site for real estate licensing in your state/territory.
<type your answer here>

Question 6
Your employer suggests that you become involved with at least two industry associations relevant to your role in real estate. Do some research on property industry associations and respond to the following questions.
(a)        List two (2) different industry associations that you might consider joining
<type your answer here>

(b)        Indicate why you would choose these associations, ensuring you state what benefit(s) you would gain by joining.
<type your answer here>

 
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Posted by on February 12, 2017 in academic writing, Academic Writing

 

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