Risk Management in Property Agency

Assessment

Table of Contents
TASK 1............................................................................................................................................1
Q 1.1 ...........................................................................................................................................1
Q 1.2 ...........................................................................................................................................1
Q 1.3 ...........................................................................................................................................1
Q.1.4 ...........................................................................................................................................1
Q 1.5 ...........................................................................................................................................1
Q 1.6 ...........................................................................................................................................1
Q 1.7 ...........................................................................................................................................1
Q 1.8 ...........................................................................................................................................1
Q 1.9 ...........................................................................................................................................1
Q 1.10 .........................................................................................................................................2
Q 1.11 .........................................................................................................................................3
Q 1.12 .........................................................................................................................................3
Q 1.13 .........................................................................................................................................3
Q 1.14 .........................................................................................................................................3
Q 1.15 .........................................................................................................................................3
Q 1.16 .........................................................................................................................................4
Topic 2 : Rules of Conduct..............................................................................................................5
Q 2.1............................................................................................................................................5
Q 2.2............................................................................................................................................5
Q 2.3............................................................................................................................................5
Q 2.4............................................................................................................................................5
Q 2.5............................................................................................................................................6
Q 2.6............................................................................................................................................6
Q 2.7............................................................................................................................................7
Topic 3 : Risk Management – responsibilities of agents.................................................................8
Define ‘risk’ within a property agency.......................................................................................8
Note the scenario you have chosen i.e. A, B, C or D, and explain the specific instances of risk
that may occur in relation to the scenario...................................................................................8

Why is an agent responsible for ensuring the safety and welfare of others and themselves
while carrying out their tasks? For instance, why is the agent legislatively obliged to take
responsibility for others? What is the responsibility of the agent or employer in your scenario?
.....................................................................................................................................................8
Identify components of a risk management plan for the scenario you have chosen...................9
Provide three ways that you could incorporate contingency planning for this scenario into
daily or weekly or monthly or other agency practices................................................................9
Explain the importance of communication strategies in identifying, managing and mitigating
risk in your scenario..................................................................................................................10
Topic 4 : Marketing and Quality Control......................................................................................10
Q 4.1..........................................................................................................................................10
Assume something goes wrong with your marketing strategy. Explain what it is and how you
will manage it............................................................................................................................14
REFERENCES..............................................................................................................................15

TASK 1
Q 1.1
No, Mr Smith who is a real estate agent can not become a strata managing agent if he obtains
the qualification and does the workplace experience.
Q 1.2
Yes, Mr Smith can sell residential property
Q 1.3
Yes, he can also sell rural property over 20 hectares.
Q.1.4
Yes, Mr Smith company need a corporation licence.
Q 1.5
The hierarchy of licence classes, from least experienced to most experienced is
(A) assistant agent, class 2 licence, class 1 licence.
Q 1.6
The minimum length of time required for registration is
(A) for an assistant agent to become a Class 2 agent, 1 year.
Q 1.7
Sales agreement and property management contract can not be signed by assistant agent.
Q 1.8
No, he does not meet with the all criteria for applying for a Class 1 licence under Pathway 3 -
Provisional for former licence holders.
Q 1.9
A) Two task form Part 2 – Sales
 Preparation of the marketing plan. This task will help in taking better decision and
providing accurate guidance for correctly performing activities.
1