Meeting with a Real Estate Agent: Managing Property Requirements

Meeting with landlord about property management requirements Discussion about property renovations, tenant agreements, and tax requirements Positive impression of landlord's handling of property management

Running head: 1
Civil Engineering
Real estate agent representative
First Name Last Name
Institution

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Role play 1
I am meeting Ian and Rebecca Harrison, the landlord of the property in the assessment task 3.
During the meeting I had a chance to engage them on the requirements of managing a property
given their status as landlord. The following dialogue documents our discussion during the
meeting.
Agent: hello, how are you Mr. and Mrs. Harrison? Am so much glad that you made it to this
meeting.
Ian: Hello, how are you?
Rebecca: Hello, thank you.
Agent: I must admit how happy I am to secure this meeting with you, given your stations I
understand how tough your schedules could be.
Ian: sure, it is no big deal. In fact, am honored. I find it irresistible to decline any chance to
engage in matters that may have effect on my tenants, property and my role as a
landlord.
Agent: wow, once again am grateful. It must feel good to be your tenant Mr. Harrison.
Rebecca: (smiling) certainly it is, hope you try us some time, unless, you already got some place
permanent.
Agent: Very tempting Mrs. Harrison, you never know. I could be your next tenant……..so Mr.
and Mrs. Harrison, what are some of the requirements for managing a property?
Ian: Well, there are quite a number. Firstly, at the start of the tenancy it is our responsibility to
ensure that the property is clean and in a reasonable state and if not special renovations
should take place before the tenancy is assumed.
Agent: so, how do you identify if there are any needs for any renovations work?
Rebecca: well, most of the time when a property has been vacated and hence need for another
lease, we first bring in a property assessor to check and document any insufficiency in
the property hence recommend any renovations work if need. From the assessors report,
we ensure that the recommendations are done under adequate supervision of our office.
Ian: just to add on that, we also do visits to such property and explore other ways to improve our
clients comfort. For instance, we can do painting, pests control, replacement of
appliances with modern kinds such as conditioner, cook tops etc. also, we do share our

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tenants a copy of a signed lease agreement, filled and complete inspection sheets as
required.
Agent: Thank you for your response, very detailed. What other requirements are there?
Ian: we do provide written instructions for any domestic appliances in the property that would
require instructions such as dishwashers, ovens. Also, for any money paid by our tenants
we issue proper receipts and have such records well documented.
Agent: thank you Mr. Harrison. Certainly what I hear from some of your tenants is true, I now
understand why. Could you please also identify some of the requirements you have to
adhere to which do not directly correlate with the tenants, for instance issue of taxes,
CBS etc.?
Ian: yes, of course. We have a responsibility to regularly pay council rates and taxes based on the
value of the respective properties. Also, in regard to the Consumer and Business Service
(CBS) we do consider lodge bond money inform of deposit at the start of any tenancy.
Agent: you really seem to have a good handle on this, indeed your services are no doubt among
the best. Thank you for taking this time to meet me. I look forward to more meetings
and engagement in future Mr. and Mrs. Harrison.
Ian: Thank you, please feel welcome anytime.
Rebecca: (carrying a gift pack) Thank you for seeing us, I have something for you.
Agent: whew! Am pleased, Thank you, thank you very much.
Role play 2
Aaron: I am very disappointed with you, I have had enough. Two weeks not even a response?
How do you expect me to live in that house in that condition with my family? Are you
people serious?
Agent: Am very sorry sir, please if you could just have a seat so that I can share with you what
ensued.
Aaron: Really? What excuse do you think can undo all the negligence you have shown? This is
not okay.

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Agent: I was to call you back that very day, but please understand my contract does not allow me
to proceed with any repairs of this nature without prior authorization from the owner. It
has been hard to pass such bad information to you given the level of inconveniences that
have arisen from your use of the property. Unfortunately, the property owner travelled
for a vacation and I have tried all the means to reach him but is since unreachable.
Please do accept my apologies for this inconveniences
Aaron: When can I expect these repairs?
Agent: It is our fault but I promise to ensure the leaking taps and the garage door fixed
immediately the owner resumes from the vacation and gets notified. I promise you this
will not be delayed any further, I will ensure to emphasize the urgency of these repairs
hence make them among the agency’s top priorities. In about a week sir, meanwhile let
me contact our inspection crew to check on your garage door and the taps and try some
temporary mechanisms as we wait for the property owner. Once again am deeply sorry
sir.
Aaron: (Relaxes) I wish you shared with me all these information before, am sorry for my
outburst earlier. I will be grateful if you manage the repairs as soon as possible and keep
in touch for any developments.
Agent: Thank you for your understanding. I will certainly ensure the repairs are conducted soon
as possible immediately I get in contact with the owner. Thank you.
Role play 3: part 1
Agent’s representative: Hello Madam, thank you for managing to meet with me and talk
regarding a consideration to sell your unit property in Central Ringwood currently under
occupation and being managed by our agency.
Monica: Of course, thank you. Given your familiarity of the property I would like your agency to
market the property at suitable price. What can you tell me about the market trends
relevant to this kind of property considering its location?
Agent’s representative: well, for such unit as this the sale price would vary between ϵ 99 950 -
ϵ150 000 depending on level advertising and advertising options that we would agree to
employ.

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Monica: what is your justification and how reliable is such a quotation? I wouldn’t want to get
my hopes high and end up dumping my property at low price at the end.
Agent’s representative: this area mainly comprises of private residences proximate to major
shopping Centre, train station and access to Eastlink. Most of these properties also are
preferably privately owned making leasing unattractive and tricky. With proper
advertising I can get this property out there at a suitable price, our agency have aided in
the sale of quite a number of properties around this locality.
Monica: alright, what sales method and advertising methods would you suggest for this property
given your considerable experience in similar transactions? What are the costs?
Agent’s representative: I would suggest Television advertisements, it has a wider reach and
provide a good platform to showcase the property hence appealing to possible buyers. We
can run such programs of multiple networks. I would recommend advertising units of 30
seconds showcasing the property and location, contacts information and cost. The costs
would be ϵ 2200 for a period of two weeks.
Monica: Okay, sounds reasonable. I hope this works. In that case I would like the property be
quoted at ϵ 135 000. I hope you will come up with suitable process of implementations
from our discussion.
Agent’s representative: of course madam, I will set on it right away.
My implementation process will be in the following steps:
i. Signing an agreement with the owner on behalf of the agency. This legally binding
contract will detail any commissions, the estimated sale price, duration of the agreement,
advertising costs, process.
ii. Preparations of the Vendor’s statement detailing any information that the prospective
purchaser will need.
iii. Advertising and showing of property through photographing of the property, floor plans
and developing TV ads.
iv. Going on the market. Meeting prospective buyers, arrange property visits with the
prospective buyers that will reach out.
v. Sale and negotiation of the property to mutually acceptable sale price.

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vi. Working on legal and financial requirements from both the buyer and seller to ensure no
oversight.
vii. Settlement day: handing over the property to the purchaser under the authority and
acceptance of the seller. All keys and property rights will be handed from seller to the
buyer in exchange of the balance of payment from the buyer.
Role play 4: part 2
Monica: given that your agency have failed to sell the property as agreed, I wish to register my
disappointment and duly notify you that from this moment I will be seeking the services
of another agency. Also note that I would require refund to all advertising costs.
Agent’s representative: Well, I do share your concern. However, I would urge you to be a little
patient as I have already heard from a number of interested properties and am sure we
will have the sale very soon.
Monica: I would want to believe you but given the reality, I believe you have done very little to
properly market and sell the property. This is very disappointing.
Agent’s representative: we have as the agency we have done all as agreed with regard to the
advertising of your property, it is really sad that the outcome is not as we had projected.
Monica: that’s it! I need full refund for the costs on advertising and termination of this contract.
From now on I will be seeking an alternative agency given you have failed to deliver.
Agent’s representative: Well, if you insist I would request you submit a formal notification and
the said requests. It is the company policy that such complaints be formally registered.
Also, based on the contract signed at the beginning of this particular transaction shall
guide if you will be entitled to any refund as would be determined by the board.
Monica: noted, my lawyers will be here to deal with such consideration anytime now.
Agent’s representative: Okay madam, I will pass the information immediately. If you could
please wait at waiting area just next turn on your right.
Monica: alright, thank you.
Role play 4

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Agent’s representative: hello Anita, am happy to work with you to find a suitable property for
your purchase.
Anita: hello, it is a new experience and am really looking forward to the success of this venture.
Agent’s representative: wow, am sure you will certainly find the best. Please tell me which
locality would you prefer and what are the family needs and hence the requirements you
would be looking for?
Anita: well, I prefer suburban area of Logan city specifically Woodridge or Kington. Am a single
mum of two kids and live with my mother. I would like somewhere close to school for
my children and a three bedroom unit would be nice with a garden, a separate kitchen,
garage and secure environment.
Agent’s representative: well, you are lucky there are three properties around that area that are on
sale and two of them really fits you, except that one is a 4 bedroom house. I would advise
to check them out and let me know your feedback. These are the addresses of the two
houses. If you have any problem just dial me using my number at the upper corner of the
brochures.
Anita: wow!! This is really a perfect start. I think I would have checked on these possible by
tomorrow evening.
Agent’s representative: sure, you do that. Don’t worry about the budget because I have checked
and clearly it is within your budget as you had stated during the inquiry. I would just
request one last thing, that you fill in your contact details for follow up and further
discussions on the same.
Anita: Sure, I understand sir. Please keep in touch and update me on any developments. Thank
you.
Agent’s representative: Thank you, bye bye.
Anita: Bye.

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