Act as Buyer's Agent and Sell Property

This assignment tasks students with demonstrating their understanding of two crucial real estate processes: acting as a buyer's agent (CPPDSM4001A) and selling property by private treaty (CPPDSM4022A). Tasks likely involve analyzing legal aspects, negotiating contracts, managing client relationships, and showcasing the ability to successfully finalize property transactions.

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CPPDSM4001A & CPPDSM4022A
Act as a buyer’s agent & Sell and finalise the sale of property by private treaty
Participant Assessment
Information and Tools
Australian College of Business and Training
ABN: 871 401 337 95 Provider no.: 40493
Level 7, 32 Martin Place, Sydney, NSW 2000
Phone: [phone] Fax: + 61 2 9222 18 05
E-mail: [e-mail]
Website: www.auscbt.com.au
Contents 1. Purpose of this document
2. Competencies to be assessed
3. Essential knowledge to be assessed
4. Essential skills to be assessed
5. Critical aspects of assessment
6. Employability skills to be assessed
7. Context of and specific resources for assessment
8. Methods of assessment
9. Reasonable adjustments in assessments
10. Perceived academic misconduct
11. Assessment tools
11.1 Assessment tool 1: Portfolio of written answers
12. Procedures of assessment submission
13. Recognition of prior learning
Appendix I. Assessment Submission Cover Sheet
Appendix II. Results sheet
1. Purpose of this This document provides an introduction to the assessment and
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document procedures for evaluating a participant’s achievement of
competency in ‘CPPDSM4001A Act as a buyer’s agent &
CPPDSM4022A Sell and finalise the sale of property by private
treaty’ unit of competency. It incorporates details on the
competency, knowledge and evidences a participant should be
able to demonstrate to be deemed competent in this unit. This
document also includes the assessment tools through which a
participant would be assessed in the unit.
2. Competencies to be
assessed
The NSW Office of Fair Trading requires (along with other
conditions) proof of successful completion of the following 9
units in order to award an individual with a NSW Buyer’s
Agent License.
The 9 unit of competency include:
1. CPPDSM3019 Communicate with clients as part of
agency operations
2. CPPDSM4015B Minimise agency and consumer risk
3. BSBLED401 Develop teams and individuals
4. CPPDSM4001A Act as a buyers’ agent
5. CPPDSM4003A Appraise property
6. CPPDSM4005A Establish and build client-agency
relationships
7. CPPDSM4022A Sell and finalise the sale of a property
by private treaty
8. CPPDSM4080A Work in the real estate industry
9. CPPDSM4008A Identify legal and ethical requirements
of property sales to complete agency work
This assessment will address the requirements of
CPPDSM4001A Act as a buyer’s agent & CPPDSM4022A Sell
and finalise the sale of property by private treaty unit. There
will be a series of face to face activities that will be conducted
over the whole program. These will contribute to your
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assessment of competency in this unit. Your active participation
in the group activities and your general communication will all
contribute to a successful assessment of competency.
The participant (You) should be able to demonstrate
competency in the following elements/skill sets and
performance criteria to be deemed competent in this unit. These
are listed below. The full unit of competencies can be accessed
from https://training.gov.au/Training/Details/CPPDSM4001A
& https://training.gov.au/Training/Details/CPPDSM4022A.
The following elements and criteria need to be met in order to
achieve competence in this unit.
Element Performance criteria:
CPPDSM4001A Act as
a buyer’s agent
Establish buyer
requirements
1.1 Enquiries from prospective buyers are handled promptly
to enable high quality service delivery according to agency
requirements.
1.2 Appropriate rapport is established with prospective
buyer.
1.3 Buyer requirements are clarified and accurately assessed
using appropriate interpersonal communication techniques and
data collection techniques.
Confirm engagement of
agency by buyer
2.1 Agency services and fee structure are discussed with
buyer in line with agency practice.
2.2 Buyer engagement of agency, including agreed services
and fees, is confirmed in writing in line with agency practice
and legislative requirements.
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Source properties that
meet buyer
requirements
3.1 Information on properties that meet buyer requirements
is gathered and organized in a format suitable for analysis and
interpretation in line with agency practice.
3.2 Reliable methods are used to collect information on
properties in line with agency practice.
3.3 Relevant people are consulted to gather additional data
using appropriate communication techniques.
3.4 Information is analyzed using reliable and valid methods
in line with agency practice.
3.5 Assumptions and conclusions are supported by
verifiable evidence in line with agency practice.
3.6 Situations requiring specialist advice are identified and
assistance is sought as required in line with agency practice.
3.7 Report on properties that meet buyer requirements is
prepared and discussed with client in line with agency practice.
Negotiate purchase of
property on behalf of
buyer
4.1 Buyer instructions on purchase of property are actioned
in line with legislative requirements and agency practice.
4.2 Purchase process is managed in a professional manner in
line with buyer's instructions, method of sale, agency practice,
ethical standards and legislative requirements.
4.3 Negotiations are conducted on behalf of buyer in line
with buyer instructions, legislative requirements, ethical
standards and agency practice.
4.4 Negotiations are conducted in a professional manner,
including showing respect for seller and buyer in line with
agency practice, ethical standards and legislative requirements.
4.5 Effective negotiation techniques are used to persuade
and reach agreement with seller.
4.6 Effective techniques are used for dealing with conflict
and breaking deadlocks where required.
4.7 Effective techniques are used for closing the purchase.
4.8 Mutually agreed price and conditions of sale are
established and confirmed with seller and referred to buyer.
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4.9 Statutory sales documentation is checked for accuracy
prior to signing by buyer in line with agency practice.
Monitor settlement of
sale
5.1 Settlement process is monitored to ensure compliance
with contract details and legislative requirements.
5.2 Payments to be made by buyer as part of the settlement
process are checked for compliance with contract details and
legislative requirements.
Maintain
communication with
relevant parties
6.1 Buyer confidence in agency activities is maintained
through ongoing contact and correspondence.
6.2 Opportunities to promote agency services are
implemented in line with agency practice.
CPPDSM4022A Sell
and finalise the sale of
property by private
treaty
Qualify buyer 1.1 Enquiries from potential buyers regarding purchase of
property are handled promptly to enable high quality service
delivery according to agency requirements.
1.2 Appropriate rapport is established with potential buyer.
1.3 Buyer requirements are clarified and accurately assessed
using appropriate interpersonal communication techniques.
1.4 Factors likely to influence the purchase of properties are
identified and used to confirm buyer intentions.
1.5 Customer due diligence is undertaken according to
agency practice and legislative requirements.
1.6 Potential buyers are provided with suitable information
about available and prospective listings and assisted to find
listing that best matches their requirements.
1.7 Potential buyers are assisted in making a decision to
view properties using information obtained from sellers and
buyers.
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1.8 Qualified prospects are recorded to provide an
opportunity to maximize future marketing activities.
Arrange property
inspection for potential
buyer .
2.1 Appointments are made for property inspections in line
with agency practice, ethical standards and legislative
requirements.
2.2 Preparations are made for property inspection in line
with agency practice.
2.3 Promotional material on the property is used to describe
main sales features of the property.
2.4 Effective questioning techniques are used to clarify
buyer interest in the property.
2.5 Records of inspections are accurately completed in line
with agency practice.
Deliver effective sales
presentation
3.1 Factors affecting the successful conclusion of the sale
are identified and addressed in the sales presentation.
3.2 Key decision makers are identified to ensure that their
needs and concerns are met in the sales presentation.
3.3 Main features of property are matched to buyers' stated
needs and motivation.
3.4 Relevant legal and financial information is used to
support the sales presentation.
3.5 Effective communication and presentation skills are
used to create buyer interest and focus buyer attention on the
property.
3.6 Buyer is given time and space to evaluate property while
time is used to maximum advantage to promote property.
3.7 Buyer is encouraged to clarify key aspects of property
before a decision is made to purchase property.
3.8 Buyer questions are answered fully and honestly.
3.9 Details of offer to purchase property submitted by buyer
are confirmed and documented.
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Submit offer and
negotiate property sale
4.1 Offer from buyer is submitted to seller in line with
agency practice, ethical standards and legislative requirements.
4.2 Professional agency advice is provided to seller that
incorporates declared knowledge of buyer's motivation.
4.3 Negotiations are conducted with buyer according to
seller response to offer.
4.4 Negotiations are conducted in a professional manner,
including showing respect for seller and buyer in line with
agency practice, ethical standards and legislative requirements.
4.5 Effective negotiation techniques are used to persuade
and reach agreement between seller and buyer.
4.6 Alternative offers are discussed and their viability
assessed.
4.7 Effective techniques are used for dealing with conflict
and breaking deadlocks where required.
4.8 Effective techniques are used for closing sale
4.9 Mutually agreed price and conditions of sale are
established and confirmed with seller and buyer.
4.10 Relevant sale of property documentation is explained to
seller and buyer in line with agency and statutory requirements
for finalization of the property transaction.
4.11 Documented, agreed price and conditions of sale are
made accessible that provide an accurate record of agreement
and meet agency and statutory requirements for finalization of
the property transaction.
Maintain
communication with
seller
5.1 Seller confidence in agency marketing activities is
maintained through ongoing contact and correspondence.
5.2 Communication is diarized to provide an accurate and
objective record of progress reports to seller.
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Manage contract to
settlement .
6.1 Settlement requirements are identified and checked with
relevant parties to minimize misunderstanding or breaches of
contract in line with agency practice and legislative
requirements.
6.2 Requests from buyer to inspect property prior to
settlement are facilitated in line with agency practice and
legislative requirements.
6.3 Information on buyer and seller responsibilities with
regard to building and content insurance prior to settlement is
provided in line with agency practice and legislative
requirements.
6.4 Procedures for holding and release of deposit moneys
during the settlement period are implemented in line with
agency policy and legislative requirements.
6.5 Settlement within the contract's legal framework is
ensured by liaison with settlement agents and other assisting
professionals representing the seller and buyer.
6.6 Progress of settlement agents and other assisting
professionals is monitored in line with agency practice.
6.7 Contingency plans are prepared in consultation with
relevant legal agents to avoid the possibility of one or more
parties to the transaction being unable to fulfil contractual
obligations.
6.8 Appropriate procedures are implemented if any party to
the transaction is unable to fulfil contractual obligations.
6.9 Effective communication techniques are used in liaising
with seller, buyer and other parties representing the seller and
buyer through the settlement process.
7 Prepare documentation for agency disbursements.
Prepare documentation
for agency
disbursements
7.1 Settlement financial transactions are checked for
accuracy against contractual documentation, and agency fees
are calculated and safeguarded during disbursement activities.
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7.2 Authorized agency disbursements are obtained within
contractual, agency and statutory requirements.
7.3 Financial systems are updated to reflect authorized
transactions.
7.4 Agency fees are calculated and safeguarded during
disbursement activities.
7.5 Due and proper attention is paid to obtaining required
authorizations, signatures and identifications prior to
disbursement.
Decide on future
contacts with prospects
8.1 Nature of future contacts with prospects is assessed in
the light of likely agency-client interaction to a given point in
time.
8.2 Business correspondence records are held on file to
provide justification for the continuation or termination of
contract, and are communicated without prejudice to the parties
involved.
Maintain client
relationships .
9.1 Future business relations are established by mutual
evaluation of seller and buyer satisfaction with services
provided.
9.2 Business records and databases are updated to facilitate
networking and informed marketing strategy planning
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3. Essential knowledge
to be assessed
CPPDSM4001A Act as a buyer’s agent:
• consumer protection principles that impact on the sale
of property, including:
• cooling off provisions
• false representations and misleading conduct in
relation to the sale of land
• impact of consumer protection legislation on
contracts
• insurance provisions
• penalties and remedies for breaches
• protection offered for consumers
• rights and obligations of estate agents
• secret commissions
• ethical and conduct standards
• general legal principles that impact on property law
relating to the sale of property, including:
• adverse possession
• contracts
• easements
• fee simple and life estates
• general law system and the Torrens system of title
• mortgages
• real and personal property
• restrictive covenants
• types of interest in land
• insurance
• methods of sale, including:
• auction
• off the plan
• private treaty
• reverse auction
• set sale
• specialized properties
• tender
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• negotiation techniques
• property inspections
• property sales, including:
• after-sales procedures
• agency and statutory documentation
• relevant federal, and state or territory legislation and
local government regulations relating to:
• anti-discrimination and equal employment
opportunity
• consumer protection, fair trading and trade
practices
• employment and industrial relations
• environmental issues
• financial services
• franchises and business structure
• OHS
• privacy
• property sales
• risks and risk management strategies
• role and responsibilities of buyer's agents, including:
• act in client's best interests
• client authority
• confidentiality
• conflict of interest
• fair trading
• fiduciary obligations
• inducements
• knowledge of legislation
• licensing
• obtain best possible purchase price
• privacy
• referral of buyer to service providers
• rights and duties.
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CPPDSM4022A Sell and finalise the sale of property by private
treaty:
• agency disbursements, including:
• authorizations, signatures and identifications that must
be obtained prior to disbursement
• calculation and protection of agency fees during
disbursement activities
• documentation for agency disbursements
• financial transactions that take place at settlement
• circumstances in which contracts are void, voidable or
unenforceable, including:
• illegality
• lack of capacity
• misrepresentation
• mistake
• consumer protection principles that impact on the sale of
property, including:
• cooling off provisions
• false representations and misleading conduct in relation
to the sale of land
• impact of consumer protection legislation on contracts
• insurance provisions
• penalties and remedies for breaches
• protection offered for consumers
• rights and obligations of estate agents
• secret commissions
• contract construction principles, including:
• acceptance
• consideration
• implied matters in contracts for sale of property
• negligence
• offer
• contracts for sale of property, including:
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• chattels and fixtures
• contract requirements for special circumstances, such as
providing finance and sale of units and flats
• defects in property
• defects in title
• effect of acceptance of title
• prescribed or permitted forms
• requisitions on title
• special conditions
• deposit funds, including:
• capacity in which an estate agent holds deposit moneys
• circumstances in which deposit moneys may be released
by the estate agent to the seller
• procedures an estate agent must follow when he or she
receives deposit moneys from a buyer
• ethical and conduct standards
• general legal principles that affect property law relating to the
sale of property, including:
• adverse possession
• contracts
• easements
• fee simple and life estates
• general law system and the Torrens system of title
• mortgages
• real and personal property
• restrictive covenants
• types of interest in land
• insurance
• marketing aids
• methods of sale, including:
• auction
• off the plan
• private treaty
• reverse auction
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• set sale
• specialized properties
• tender
• negotiation techniques
• property inspections
• property sales, including:
• after-sales procedures
• agency and statutory documentation
• sales présentation techniques
• qualifying buyers
• relevant federal, and state or territory legislation and local
government regulations relating to:
• anti-discrimination and equal employment opportunity
• anti-money laundering
• consumer protection, fair trading and trade practices
• employment and industrial relations
• financial services
• OHS
• privacy
• property sales
• risks and risk management strategies
• settlement, including:
• buyer's rights to inspect property prior to settlement
• contingencies that may emerge prior to settlement and
the actions that can be taken to avoid one or more
parties being unable to fulfil contractual obligations
• forms prepared at settlement
• procedure for settling the sale of property
• responsibilities of sellers and buyers
• responsibility of seller and buyer with regard to building
and content insurance prior to settlement
• rights of sellers and buyers if either party is unable to
settle on the due date
• techniques for identifying needs and motivation of buyers
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trust accounting in real estate.
4. Essential skills to be
assessed
CPPDSM4001A Act as a buyer’s agent:
• ability to communicate with and relate to a range of
people from diverse social, economic and cultural
backgrounds and with varying physical and mental
abilities
• analytical skills to interpret documents such as
legislation, regulations, sale authorities, reports from
professional service providers and contracts
• application of risk management strategies associated
with advising buyers on selection of properties
• computing skills to access agency databases, send and
receive emails and complete standard forms online
• decision making and problem solving skills to analyses
situations and make decisions consistent with legislative
and ethical requirements
• literacy skills to access and interpret a variety of texts,
including legislation, regulations and rules of ethics;
prepare general information and papers; prepare formal
and informal letters, reports and applications; and
complete standard forms
• negotiation skills to reach agreement with sellers and
real estate agents acting on behalf of sellers, on the price
and conditions of sale of property
• numeracy skills to calculate and interpret data, such as
agency fees for the provision of services to buyers
• planning, organizing and scheduling skills to undertake
work-related tasks, such as inspecting properties
• research skills to identify and locate documents and
information relating to property sales.
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CPPDSM4022A Sell and finalise the sale of property by private
treaty:
• ability to communicate with and relate to a range of
people from diverse social, economic and cultural
backgrounds and with varying physical and mental
abilities on matters associated with the sale of property
• analytical skills to interpret documents such as contracts,
legislation and regulations
• application of risk management strategies associated with
the sale of property
• computing skills to access the internet and web pages,
prepare and complete online forms, lodge electronic
documents and search online databases
• decision making and problem solving skills to analyze
situations and make decisions consistent with legislative
and ethical requirements associated with the sale of
property
• literacy skills to access and interpret a variety of texts,
including legislation, regulations and contracts; prepare
general information and papers; prepare formal and
informal letters, reports and applications; and complete
standard and statutory forms
• negotiation skills to assist sellers and buyers to reach
agreement on price and conditions of sale of property
• numeracy skills to perform calculations associated with
property sales
• planning, organizing and scheduling skills to make
appointments with sellers and buyers in the process of
selling property
• research skills to identify and locate documents and
information relating to sale of property.
5. Critical aspects of CPPDSM4001A Act as a buyer’s agent:
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assessment • confirming buyer engagement of the agency in line with
agency practice, ethical standards and legislative
requirements
• establishing buyer requirements in line with agency
practice, ethical standards and legislative requirements
• knowledge of agency practice, ethical standards and
legislative requirements affecting the sale or purchase of
properties
• maintaining communication with sellers and buyers
• monitoring settlement of the sale in line with agency
practice, ethical standards and legislative requirements
• negotiating the purchase of property on behalf of the
buyer in line with agency practice, ethical standards and
legislative requirements
• sourcing properties that meet buyer requirements in line
with agency practice, ethical standards and legislative
requirements.
CPPDSM4022A Sell and finalise the sale of property by private
treaty
• arranging and conducting property inspections for
potential buyers
• completing standard and statutory documentation
associated with the sale of property
• knowledge and application of approaches for qualifying
buyers
• knowledge of agency practice, ethical standards and
legislative requirements affecting the sale of property and
requirements associated with the transfer of ownership
required for the legal sale of all types of property and
businesses
• knowledge of consumer protection principles that impact
on the sale of property
• maintaining business records associated with the sale of
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property
• maintaining communications with sellers and buyers
throughout the sale process
• negotiating the sale of property with sellers and buyers
• planning and delivering effective sales presentations to
facilitate the sale of property
• knowledge of agency practice and legislative
requirements associated with agency disbursements
• managing contracts for sale of property to settlement
• monitoring the lodgment of documents for the correct
transfer of ownership required for a legal sale of all types
of property and businesses
• preparing documentation for agency disbursements.
6. Employability skills
to be assessed
This unit assessment contains the assessment of employability
skills as well. For details on employability skills assessment
requirements please refer to
http://employabilityskills.training.com.au/
7. Context of and
specific resources for
assessment
To support the assessment process and delivery of this unit you
will be provided access to appropriate documentation and
resources normally used in the workplace including the
following:
• Access to suitable simulated or real opportunities and
resources required to demonstrate your competence in this
unit.
• Access to a register provider of assessment services.
• Access to appropriate support to undertake assessments
• Where applicable, physical resources would include
equipment modified for people with disabilities.
• Assessment processes and techniques would be culturally
appropriate, and appropriate to the language and literacy
capacity of the candidate and the work being performed.
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8. Methods of
assessment
A range of methods as following will be used to assess your
competence in this unit:
• Completion of written answers in a portfolio
• Completion of case studies and role plays
9. Reasonable
adjustments in
assessments
ACBT fully adheres to the principles of the Disability
Discrimination Act, 1992. Wherever feasible and practicable the
trainers and assessors of this unit will take into consideration
your special needs, which may arise because of your physical or
psychological disability or because of deficiency related to
language and numeracy skills.
However, while making such adjustment the integrity of the
unit and its requirements will not be compromised (this means
you have to demonstrate the achievement of required skills and
knowledge at the specified standards).
Reasonable adjustment will be made on case-by-case basis
considering your personal situation.
10. Perceived Academic
misconduct
ACBT is committed to academic integrity and the promotion of
ethical perspectives and standards in all its training and
assessment services. It expects its participants to respect these
values.
Academic misconduct may include plagiarism, cheating and
collusion including other unwanted academic behaviors in
undertaking assessments. Academic misconduct, depending on
the seriousness, could lead to a warning, ‘Not Yet Competent’
grade, reprimand, replacement examination and even
suspension or expulsion.
These rules apply in the context of the assessment of this unit.
Please refer to the Participant Handbook for more information
on academic misconduct and do not put yourself in any form of
difficulty by pursuing the activities which are perceived by the
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College as unethical.
11. Assessment Tools
Instructions for
assessor:
The following range of assessment tasks are to be undertaken
during the 3 face to face training sessions, with the view of
creating opportunities for the participant to build confidence in
acting as a buyer’s agent and to sell and finalise the sale of
property by private treaty, whilst ensuring their performance in
the work place and in class reflects the scope addressed in the
training package as well as the requirements of a functioning
real estate workplace.
As these assessments are part of a structured learning
experience the evidence collected must relate to a number of
performances assessed at different points in time and separated
by further learning and practice with a decision of competence
only taken at the point when the assessor has complete
confidence in the participant's competence. Participants must
provide correct answers in 100% of the short answer questions
and scenario. Answers must be marked according to the
guidelines provided in CPPDSM4001A Act as a buyer’s agent
& CPPDSM4022A Sell and finalize the sale of property by
private treaty - Assessors Guide.
A random sample of 10% of completed assessments will be the
subject of moderation by external assessors on a quarterly basis.
It is an expectation of ACBT that you will be part of that
moderation activity as part of your professional development.
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Instructions for
Participants:
These assessments are to be undertaken over the given 3 day
period during the face to face classes, with the view of creating
opportunities for you to build confidence when acting as a
buyer’s agent & to sell and finalise the sale of property by
private treaty whilst ensuring your performance in the work
place and in class reflects the scope addressed in the training
package as well as the requirements of a functioning real estate
workplace.
The purpose of this assessment is to test your theoretical and
practical application of skills and knowledge in a real estate
workplace.
The college has provided the necessary workplace resources and
materials to undertake this assessment. Before you undertake
this assessment make sure you have clearly understood the
marking criteria and requirements for this unit which should be
read before class and is discussed in class by your
trainer/assessor. Unless otherwise stated, this is an open book
assessment.
The outcome of this assessment will be either ‘Satisfactory’ or
‘Not Yet Satisfactory’. If your result is ‘Not Yet Satisfactory’
you will be advised by your trainer/assessor about the options
available to you. You will receive feedback and results of this
assessment within two weeks of your submission.
You have rights to appeal against the outcome of this
assessment following College appeal procedures if you are not
happy with your outcome. However, it is advisable to talk to
your trainer/assessor first.
Participant’s Full Name
I agree that I am ready to be assessed
Participant signature
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Date
Assessment Tool 1
Portfolio of Written Short Answers
Instructions to
participant:
The purpose of this assessment is to test your knowledge
required to act as a buyer’s agent & when selling and finalizing
the sale of property by private treaty
There are 20 questions, 2 case studies and 6 role plays in this
assessment. Each question should take approximatively 20
minutes or 2 hours depending on the nature of the question. The
estimated time has been specified for each question for students
to use as a guide when completing questions. The questions
must be answered in the space provided directly below the
question. The questions require a variety of responses including
providing a detailed understanding and explanations of the
issues as well as giving your own interpretation to certain facts.
All questions are linked to the skills or knowledge you are
expected to demonstrate, which are described in Sections 2-5 of
this document.
You must attempt each question. You must achieve a pass rate
of 100% in this section to achieve a satisfactory result. The
areas addressed in this section will be further visited in the other
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assessment activities as well as in the observation record.
You should thoroughly study the training materials provided to
you before you attempt to answer these questions.
The outcome of this assessment will be either ‘Satisfactory’ or
‘Not Yet Satisfactory’. If your result is ‘Not Yet Satisfactory’
you will be advised by a trainer/assessor about the options
available to you. This will include the opportunity to re-sit this
section again.
The questions provided here should be copied and answered
using Microsoft Word program and tidily presented in a
portfolio of written answers following the assessment
submission procedures described in Section 12 of this
document. If you do not have access to a computer please
advise the college to provide you a copy of these questions in
the required format.
If you have any questions about this assessment and its
requirements you should contact your trainer/assessor at ACBT
for clarification.
You will receive feedback and results of this assessment within
two weeks of your submission. You have rights to appeal
against the outcome of this assessment following the College
appeal procedures described in the Participant Handbook if you
are not happy with your outcome. However, it is advisable to
talk to your trainer/assessor first.
Question 1
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Estimated Time: 40 minutes
a) Identify and list the legislation in your state or territory relating to the following
aspects of property sales:
▪ anti-discrimination and equal employment opportunity
▪ anti-money laundering
▪ consumer protection, fair trading and trade practices
▪ employment and industrial relations
▪ financial services
▪ OHS
▪ privacy
▪ property sales
 anti-discrimination and in the Act of 1977
 equal employment opportunity common in 1987
 anti-money laundering Act 2006
 consumer protection, fair trading and trade practices Act 1974
 employment and industrial relations Act 1996
 OHS- work and heath safety act 2011
 Privacy- Privacy and Personal Information Protection Act 1998
 property sales- Property agent act 2002
(b) Locate and name the legislation in your state or territory that refers to the following
topics. Briefly explain the requirements.
▪ Estimated selling price
▪ Commissions
▪ Rebates
▪ Restrictions on agents buying property
▪ Vendor statements
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▪ Cooling-off periods
▪ Deposits
Property agent act 2002 and section 72A covered the following pint
 Estimated selling price
 Commissions
 Rebates
 Restrictions on agents buying property
 Vendor statements
 Deposits
The cooling off period is five business days in the normal period.
Question 2
Estimated Time: 40 minutes
(a) List legislative and industry requirements in your state or territory that regulate ethics
and standard of conduct in property sales.
The Ethical and standards in property sales Act 2002 in which they describes all the ethics
and standards for the property sales
(b) Use the Internet to research the Real Estate Institute of Australia’s National Principles
of Conduct. In your own words describe the objectives of the National Principles of
Conduct and summaries the nine principles?
The main objective of the Real Estate Institute of Australia’s National Principles is to
conducted is to promote and encourage a high standards of ethical practice by members
and their employees in dealing with estate agents.
The summaries of the nine objectives are as follows.
Hold the professional qualification and have reasonable knowledge. along with the
maintained skills and qualifications and also act in the clients interest. Act as ethically and
fairly and honestly. Along with this do not disclose any type of confidential information
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and endeavor to prevent or resolve disputes.
(c) What penalties and remedies may be applied for non-compliance with legislation or
regulations?
The penalties of non -compliance of regulation is financial penalties long with the contract
may be cancel. With this remedies of the project is that consumer can make compliances
in consumer protection act.
Question 3
Estimated Time: 30 minutes
List the documents that are required by legislation in your state or territory to be
completed during the sales process.
Following are the documents which are required in process of sales.
 Sales deed
 Owner certification
 Buyer’s required
Question 4
Estimated Time: 30 minutes
What matters can affect a title’s registration? Briefly explain each matter.
There are different types of matters which can affect the title’s registration is that in
adequate amount of money, sales deed. Along with this title’s registration is also gets
effected by when the owner registration is not clear and the property deed is not clearly
mentioned
Question 5
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Estimated Time: 30 minutes
(a) What is the purpose of screening potential purchasers?
When selling a business, there is a number of polemical buyers. Some of these will be
serious candidates, while others are simply gathering information for their own personal
and professional reasons.so the main purpose of the Screening potential purchase is to
identify all those candidates who are serious interest in the purchasing of the property of
the business. Through this process, seller can gather all information regarding individuals
and their actual purpose and if there is any threat available then it also will overcome with
it.
(b) What information should you gather in the screening process?
Before selling any types of the business property to any individual the person should
gather all the information regarding the potential buyers. For this, the seller needs to
gather information regarding the financial backing. The individual will need to have
accurate financial information to determine if they pre-qualify for a loan. If the potential
buyer seems serious, individual can also request a written expression of interest. Along
with this individual also need to gather information related to the what is the actual
purpose of purchasing of property. it is possible that buyer has some personal interest in
buying the property.
Question 6
Estimated Time: 20 minutes
What factors can affect the successful conclusion of a sale?
There are different types of factors which can affect the conclusion of the sale. The seller
must include fair sales price, terms, and timing. The desirability of the property. This
includes location, conditions, plus the value of surrounding properties. If the seller does
not provide diligence information is provided to prospective buyers Ahead of time.
Another factor which creates an impact on the business is to not making correct
consideration of time. The conclusion of sale is also getting affect by the seller if they fail
to provide correct consideration. If the prices of property are decreased before the
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conclusion of sale which may create an impact on sale.
Question 7
Estimated Time: 20 minutes
Discuss a minimum of three techniques that can be used for closing sales and provide
examples of how they are used.
There are different types of techniques which can be used by the business man for closing
the sales. Following are the sales closing technique.
Traditional sales closing techniques
Traditional sales closing techniques usually employ some psychological tricks designed
to give that final nudge. The example of the traditional sales techniques when a sale
person used special benefits that prompt immediate purchase.
The summary close is that technique which used by the sales person reiterate the items the
customer is hopefully purchasing (stressing the value and benefits) in an effort to get the
prospect to sign. For example, if a sale person selling washing machine in which they
make guarantee and free delivery services. By summarizing previously agreed-upon
points into one impressive package, you're helping prospects visualize what they're truly
getting out of the deal.
A modern sale closing technique: the idea of closing itself needs to encompass any and all
incremental agreements you secure throughout a sales process. For using this technique
salesperson needs to discover customer’s needs and make an effective communicate with
them. Through this, they can effectively make sales and encouraging to the buyers for
selling products.
Question 8
Estimated Time: 30 minutes
(a) What is the cooling-off period for residential property sales? Explain the terms and
requirements for the cooling-off period
A cooling off period in which the number of business days where a property buyer can
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walk away from a legal agreement to purchase residential property. Once the vendor signs
the sales contract then he cannot run away from then the legal obligation of property.
(b) In what circumstances does the cooling-off period not apply?
If the buyer make final settlements and sign the contract of the sale. In that condition the
cooling off period not applies. In the property signing the buyer and seller need to make
sale contract if the buyer sign the sale deed then they do not disclosed cooling off period.
Question 9
Estimated Time: 50 minutes
(a) What is the process for settling the sale of the property? You may refer to specific
agency procedures or general processes.
Property settlement is a legal process that is facilitated by your legal and financial
representatives and those of the seller. It's when ownership passes from the seller to you,
and you pay the balance of the sale price. The seller sets the settlement date in the contract
of sale. The transferred and should be duly or stamp duty on the date of settlement. The
title of the property will not be transferred until seller name of the property had to be paid
the duty. Once the passion is completed then the seller can take the passion of the
property.
(b) List any assisting professionals who may be involved in the settlement process
In the settlement process following are may be involved in settlement process
Banker
Lawyer
Agents
Buyer and seller
(c) Does the buyer have a right to inspect the property prior to settlement?
Yes, according to the consumer f protection act and consumer basic right the buyers have
filled right to inspect the property prior to the settlement. The buyer of the property has
filled right to make an inspection of the property before signing the contract. According to
the consumer right, it I basic rights of the customers for inspect property carefully and
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check whether the provided information regarding to the settlement of property is correct
or not. Through this, the buyer can avoid the future disputes and also helps to avoid the
property settlement if they find any type of misleading information regarding to the
property.
Question 10
Estimated Time: 80 minutes
(a) What information does a contract of sale contain?
One of the most important of these documents is the Contract of Sale. This document sets
out the terms and conditions agreed upon between the buyer and seller in a clear and
concise manner. Along with this it also consists full information regarding to the property
and the consideration which is going to be paid by the seller. The contract of sale also
includes different types of terms and conditions which are required as according to the law
and regulation of property act set by the country’s government. In addition, it also includes
the mode of payment and market value of the property and from where it is transferred to
the seller.
(b) What are the six essential elements of a valid contract?
In order to make an essential contract, there are six essential elements through which the
contract of sale is prepared. For making a valid contract there are some elements which
need to be followed by the contractor and contracted.
Following are the six essential elements of a valid contract.
 Agreement
 Consideration
 Contractual Capacity
 Legality
 Genuineness of Assent, or Voluntary Consent
 Form
All the above are essential element of the valid contract. All should be present in the
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contract so the contract can become valid and enforcement by law.
(c) What makes a contract void, voidable or unenforceable?
There are different types of the condition if they are not fulfilled the contract then it
becomes void, voidable or unenforceable.
Void contract; - "An agreement not enforceable at law is a void contract". Originally such
type of contact is valid but due to the certain conditions and lack information regarding the
formation of the contract, this agreement becomes a void contract.
Voidable contract – "An agreement which is enforceable by law at the option of one or
more of the parties, there too but not at the option of the other or others is a voidable
contract”. It means a voidable contract is that contract in which if the conditions of the
contract are not fulfilled then it becomes a voidable contract.
Unenforceable contract - it means that contract consist fills information regarding the
formation of the contract but due to it technical facilities and mistakes. The contract
becomes an unenforceable contract.
(d) When would a contract of sale of real estate include a special condition? List two types
of special conditions that may be put into a contract.
A contract of for the sale of property there is may be some special condition which needs
to be fulfilled by the vendor. The special conditions in the contract are involved for
satisfying for the inspection of the contract. There are two types of special conditions can
be involved sell of contract.
(e) Is it possible for a buyer to be released from their contract if structural defects or
significant defects are found? Is it a requirement for every state in Australia that sellers
must disclose defects?
Yes, the buyers have full right to be released from their contract if they found any types of
defects or significant defects if they found in the contract act. It is the responsibility of the
seller for discloses each and every type of defects from their contract so the buyer can
become aware of the defects and no misleading information is to be provided.
In the Australia, in each state, it is important or essential that seller give full correct
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information regarding the property sale. It is also required that seller must disclose all
types of defects from the contract so valid contract can be prepared.
(f) Provide three reasons why it is important for buyers to get a pre-purchase building
inspection.
For the buyer, it is essential to know about the pre-purchase inspection. With the help of
the pre –purchase inspection, they can avoid several future problems and misleading
information which provided by the seller.
Check the structural issues
Before purchasing any types of building or property the buyer must inspect. It helps to
them for avoiding the structural issues which appear in the building and provide them
information regarding the Structural weaknesses if it is there.
identify unsafe area
the pre-purchase inspection helps to the buyer for making and indenting unsafe area in the
building
budgeting the repair
if there any types of defects are there then it helps to the buyer for making budgeting the
repair.
(g) What are requisitions on the title?
The requisitions on the title are the type of title document which provided to the buyers
regarding the Buyer's Convincing as if any types of issues which arose during the sale of
contact of the act for after the sale. If the buyer found any type of unsatisfactory deal then
he/she can complain about the administrative completion arrangements. Through this
requisitions, the buyer gets right to file a complaint against the seller if they provide any
type of the unsatisfactory information or any type of misleading information to the buyer.
It helps to them for a claim for certain individual or any other person due to the problems
raise.
(h) What meant by ‘acceptance of title’?
The acceptance of title refers to that situation in which the the buyer can be threshold
condition for the release of the purchaser's deposit. This is deemed consist ion in which
when seller deposits are amount the he received acceptance of title .
(i) After the settlement, under what conditions can the contract be set aside? What are the
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remedies available?
In the settlement the contract can be aside in the when the buyer or seller do not provide
enough information regarding to the real estate. In this the property settlement can be
aside. Along with this it is also when the cooling off period is also off. The remedies for
the settlmenent is that they can ask for the damages by agreevied party.
(j) Explain the terms ‘chattels’ and fixtures’. Describe how chattels and fixtures impact on
contracts (that is, how they are listed in a contract)
The terms chattels refer to that part of the property which can easily move from one place
to another place it can moveable in nature hence can easily move from one place to
another place such as fridge, washing machine etc.
The term fixtures refer to the permanent in nature. It is the part of the property which is fix
from the property. Such as furniture which is fixed from the property. This can create an
impact on the sale of contracts in the business. if the company wants to hold any type of
property than the all the fixture and chattels should be listed as according to nature and the
way in which they can be used for the business.
Question 11
Estimated Time: 60 minutes
(a) What are the disbursements associated with property settlement?
In the property settlement, there are different types of disbursement which are related to
them. In the disbarments of the property includes written cost, commission, settlement
fees and taxes, along with this there are many be some other types of the disclosure fees
and statutory fees which are related to the property settlement.
(b) Who can sign a trust cheque or approve an EFT for a trust account?
The trust cheque must be signed by the
An authorized principal of law practice
legal practitioner associate,
Legal practitioner who holds an unrestricted practicing certificate
two or more authorized associates jointly.
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(c) What documentation must an agent supply to the vendor and what does it include?
The agent must supply all original document which is well defined and cannot be drawn
up. The agent must supply all documents related to the property and their consideration.
This documents must be included all important information regarding the property and
their conditions. It must also include all the important information about the terms of each
party and must disclose all defects related to the real; estate.
Question 12
Estimated Time: 90 minutes
(a) What are an agent’s responsibilities in the case of any problems with settlement?
If any type of the problems raised during the settlement of the property is that agencies
needs to ensure that all the documentation are must be real and they need to pay all the
amount of settlement. Along with this agent need to be worked as mediator in this and
they to solve problems which raise in between both parties.
(b) What are the rights and responsibilities of a seller in terms of settlement?
In the terms of settlement, the right of the seller is to make an effective decision and also
need to identify that all the information which is provided. Along with this, they must
inform that property must be signed by the both parties. The responsibility of seller is that
they need to make sure that no misleading information should be generated.
(c) What are the rights and responsibilities of a buyer in terms of settlement?
The buyer’s right is to make sure that to pre purchase inspection of the property, before
purchasing the property buyer need inspect the property and also make sure that the
contract must be contained satisfactory information. On the other hand responsibility of
buyer is that they need to make sure that payment of the settlement should be made on
time.
(d) What are the rights and responsibilities of a seller and a buyer in terms of building and
contents insurance?
In the terms of building and contents of insurance the buyer and seller need to make
correct inspection of documents and along with this they also need to make sure the
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amount of insurance is also stated in the documents. With the help of this, seller and buyer
also give full information about the defects which are present in the building.
(e) What advice would you give to a vendor should the buyer be unable to settle on the
due date?
If the buyer is unable to make settlement on the due date then the vendor should give more
time to the buyer so they can overcome with all type can make the final settlement in the
businesses.
(f) List at least three forms/documents that are involved in the settlement process
Following are the forms and document that are involved in the settlement process
Insurance of property
Sale deed’s and seller documents
Latest tax paid receipt
(g) What is a settlement ‘crash’?
It means that the final settlement of property sale is not settled. There are different types of
reason when the settlement of crash appears. Crash falls in two section that is anticipated
and another not anticipated. The settlement is the final step which followed by the vendor
in the conveyance process in which the purchase pay the balance amount of the settlement
to the vendor.
Question 13
Estimated Time: 30 minutes
What methods would you use to communicate with and relate to a range of people from
diverse social, economic and cultural backgrounds and with varying physical and mental
abilities?
There are different types of method of communication which are available for the people
who are belonging to the diverse background. The standard mode of communication is
speaking, writing or through sender. The people who belong to the diverse social,
economic and cultural background they can make communication by writing and oral the
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language in which they can understand the best. On the other hand, the people who belong
to the physical and mental abilities to them we can use the special language such as sign
language through which they can easily understand the proper communications.
Question 14
Estimated Time: 10 minutes
What risk management strategies need to be applied advising buyers on the selection of
properties?
Before selecting any type of property from the buyer then following the type of risk
management strategies which need to keep in mind.
Financial risk
property and casualty risks
Control risk
Question 15 - 20
Research government or real estate industry sources or your course textbook, and write
down explanations for the questions below. Include references to the sources of
information you used for each answer.
Remember to write your answers using your own words – do not copy text directly from
your sources.
Estimated Time: 120 minutes
Question 15
Explain the following:
▪ Cooling off provisions
▪ False representations and misleading conduct in relation to the sale of land
▪ Impact of consumer protection legislation on contracts
▪ Insurance provisions
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▪ Penalties and remedies for breaches
▪ Protection offered to consumers
▪ Rights and obligations of a real estate agent
▪ Secret commissions
 Cooling off provisions is a term which generally used by the real estate property in
their property settlement. Under this period the buyer, if they want, can easily run
away from the contract or make the contract as voidable.
 False representations and misleading conduct in relation to the sale of land refers
to when a seller provide false information regarding to the land. Such as market
value of hiding or any other type of defects regarding to the land.
 Impact of consumer protection legislation on contracts, with the help of that
legislation the consumer can overcome with any type of problems. Through this
legislation, the buyer needs to make sure that if any type of problems papers then
they can make complaints in the administration arrangements.
 Insurance provisions : It refers to that type of the contractual liability which occurs
due to the insurance provision under which the seller insured the assets of any type
of valuable items.
 Penalties and remedies for breaches. it means that if in the sale of contract there is
any types of breach occur or any conditions of contact is not fulfill then it creates
problems for the insurance.
 The protection offered to consumers in the making any type of the sale of the
contract the consumers need to be received protection under this act. Through this,
they can get remedies from the fraud.
 Rights and obligations of a real estate agent the right and obligation of real estate
agents that they help to make deck in between the both parties and also helps to
them for final settlement.
 Secret commissions it refers to the term in which an agent receiver any types of
secret commission from the other third party for making or breaking any type of
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contracts. It called secret commission.
Question 16
Explain in detail the ethical and conduct standards of real estate ethical and conduct
standards of real estate agents relevant to your state or territory.
Following are the ethical standards which need to be followed by the real estate agents.
Conduct
The agent need to follow all type of conditions and also uphold the honor and dignity for
not making any type of activity that can be brings profession into disrepute and create
impact on the business transaction.
Relationship with clients
The agents should act in the best interest to their clients
The Agents need to obtain all the instruction in the writing.
All the condition which are mentioned in the contract are clear and present under stable
terms.
The agenst needs to disclose all type of the expenses and fees in advance/.
The agents need to maintain confidentiality in the sale of contract and also do not
disclosed all information.
The Agents also need to provide all information through which thy are completed aware.
Before making any type of the property settlement the agent need to make proper market
research about the prices of land in effective manner.
The agents need to marinated transparency in their business deadlines
The agents if any type of disputes are occurred then they also need solved in professional
manner.
Question 17
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Explain in detail the general legal principles that impact on property law in terms of
property sales, including:
▪ Adverse possession
▪ Contracts
▪ Easements
▪ Fee simple and life estates
▪ General law system and the Torrens system of title
▪ Mortgages
▪ Real and personal property
▪ Restrictive covenants
▪ Types of interest in land
▪ Insurance
Adverse possession refers to the legal principle which applies when a person do not have
the legal right of the land and gets the passion without permission of anyone. The owner
have right to take passion of the property through the legal actions.
Easements refers to the non-possessory right to use enter onto on real property without
permission possessing it the property.
Fee simple and life estates are refers to that owner of land do not give the better title
expect the title he or she owns. According to the this law of principle the owner of land
cannot give full rights of property to another person’s b the life tenant's ownership in the
property ends when the person who is the measuring life dies.
General law system and the Torrens system of title refers to that land registration in
which the register of land holdings maintained state guarantees and includes the
indefeasible title to those person who name are include in the register.
Mortgages refers to the amount of loan. This can also be included that the general
principal of the property is refers to that all the amount of mortgage should be available
for the property.
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Real and personal property refers to the moveable and immovable property of the real
estate. In the property selling the seller need to make separate mentioned about the all-in
of the moveable and immovable assets which are attached to the buildings.
Restrictive covenants refers to that solemn agreement in between vendor and purchase in
which the purchaser make agreement that he will not make any type of certain acts
through which vendor pay to face many type of problem.
In the land process there are different types of interest registered interest, Life Interest,
Tenants-in-Common. all are important types of interest in the land.
Insurance the impact of this is that it provides all type of security to the land and also it
helps the business for conducting the process in effective manner. The general principle
related to the insurance is that the buyer can settle the amount of insurances after buying
the property.
Question 18
Explain the following methods of sale:
▪ Auction
▪ Off the plan
▪ Private treaty
▪ Reverse auction
▪ Set sale
▪ Specialized properties
▪ Tender
 Auction is the kind of public sale in which the people are making sale of their land
in the public.
 Off the plan, it means that purchasing a property which is still under construction
or the design the property but yet to be built.
 Private treaty the agreement for the sale of a property at a price negotiated directly
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between the vendor and purchaser or their agent
 Reverse auction: it is different type of auction in which the roles of buyer and
seller are reversed in the ordinary sale buyer bid for posting the goods and services
but in the reverse auction the seller try to obtain business
 Set sale under this type of sale the buyer also put an option for the undertaking the
option for the selling property before a prior date.
 Specialized properties it refers to those unique building which is high standards and
with some historical significance
 Tender it is the process in which the government of any other financial institution
allowed to bid on the government project and project also submitted within final
limit
Question 19
Provide a description of each of the following and how real estate agents need to comply:
▪ Anti-discrimination and equal employment opportunity
▪ Consumer protection, fair trading and trade practices
▪ Employment and industrial relations
▪ Environmental issues
▪ Financial services
▪ Franchises and business structure
▪ Work health and safety
▪ Privacy
▪ Property sales
In the Anti-discrimination and equal employment opportunity the real estate agent they
need to make sure that no discrimination should be there and also seller and buyer have to
give equal right for provide information.
In the fair trading practices the agents need to make sure that buyer do not get any type of
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harm and also all the practices should maintain transparency
The buyer agents need to make sure that they also maintained employees relationship and
also they should behave professional.
No Environmental issues should be there so the agents make sure that the buyer have to
follow each and every type of environmental law.
In the financial services the agents need to make all the information update and also as
according to the consumer interest.
If the business are franchises and structure they should provide all information.
The work health and safety the buyer need to make effective approach and they also need
to make sure that to all safety should be there.
It is duty and responsibility of the agents’ to keep privacy until the purchasing the
property. In the present time it is important for keep all kind of secret for buying the
property in the business
In the sale of the property the buyer and seller they need to considered all the required
information and also, they need to make sure that no conditions are misleading.
Question 20
Explain the roles and responsibilities of buyer's agents listed below:
▪ Act in client's best interests
▪ Client authority
▪ Confidentiality
▪ Conflict of interest
▪ Fair trading
▪ Fiduciary obligations
▪ Inducements
▪ Knowledge of legislation
▪ Licensing
▪ Obtain best possible purchase price
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▪ Privacy
▪ Referral of buyer to service providers
▪ Rights and duties
For the act in the client’s best interest the agent’s responsibilities of I that they need to
adopt the permission and also, they need to fix the deal in effective manner as per the
client’s requirements.
As according to the clients requirements. the agents need to sign any documents. Along
with this the agents also need to make consult before making any type of agreement with
the seller.
Confidentiality refers to the no agents has right to leak any kind of information regarding
to the buyer’s. it is primary responsibility of the agents to keep secret of all information
regarding to buying and selling of any type of property.
The agent need make sure that to no personal interest should be there. In the real estate
process it is important that agents make sure that all the benefits of buying property
should be related to the only buyers not with himself
Fair trading it refers to all the agreements which are made under this process should be
based on fair trading. All the parties which are involved in making the deal should be
benefited and no misleading information is provided to the client.
The buyer’s agent does not have any right to take any kind of financial benefits from the
seller. This can be happened when the seller wants to sell their products and for that they
can hire to any other person for making the deal. It can deal to misconduct with buyer. So
no Inducements are allowed.
The buyers should have full knowledge of the all the legislation regarding to the property.
At present the agent need to make sure that all type of information which is generated by
the contract must be followed all laws and regulation of the country.
Licensing is refers to that all the property agents are should be certified in order to making
the deal.
For the buyer’s satisfaction and for maintain the prices of property the agents need to
make serious efforts for buying the house and them also need to make sure that prices
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should be according to the buyer’s requirements.
It is duty and responsibility of the agents’ to keep privacy until the purchasing the
property. In the present time it is important for keep all kind of secret for buying the
property in the business.
In the selling and buying process the agent need to provide all the information regarding to
the referral program for the company.
The rights and duties of the buyer’s agent is that for making the deal for the buying
process they need to make sure that all information should be provided and obtained the
best prices for the apartments.
Case Study 1: For each of the properties listed below you must complete the following
activities.
Property 1: House in Bayswater
Brick veneer house situated on 720m2 allotment. The house includes:
▪ three bedrooms
▪ master bedroom – double built-in robes and ensuite
▪ other bedrooms – double built-in robes
▪ study
▪ separate living areas – lounge/dining room and family room
▪ kitchen has stainless steel appliances; gas cook top, electric oven, dishwasher and
breakfast bar
▪ main bathroom with large shower and twin vanity
▪ ensuite features a sunken spa and sauna
Features include:
▪ Gas log fire in lounge/dining area
▪ Gas ducted heating
▪ Evaporative cooling
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▪ Outdoor covered entertaining area
▪ Single lock up garage plus double carport
Property 2: Apartment in Elsternwick
Ground floor apartment in Elsternwick in block of eight apartments. The apartment has
been recently renovated and has:
▪ Two double bedrooms with built-in robes
▪ Separate dining room
▪ Kitchen/meals area with modern stainless steel appliances including gas cook top,
electric oven and dishwasher
▪ Bathroom with laundry facilities and separate toilet.
Features include:
▪ Air conditioning
▪ Security entrance
▪ Covered garden courtyard
▪ Undercover parking
▪ Close to public transport, shops and cafes
Activity 1: Develop promotional material
a) Write an advertisement for the property. Your advertisement must include an
estimated selling price and details of any open for inspections.
b) Where will you advertise the property?
Advertainment for the house
for all the individuals who are looking for the apartment. Here, is the opportunity for
getting a new apartment. The following are feature is included in the apartments.
 Double bedroom
 Separate dinning room
 Bathroom with washing facilities
Fixture of the apartment
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 Air condition and entrance
 Garden and parking facility
The total prices of the apartment are $290,000. Apartments are open for inspection.
Interest people are free to make an inspection of property anytime. Feel free to contact.
There are different types of place on through which the company can advertise about
apartments. The best place for making the advertisements are given below.
Property selling websites: in the modern era, there are different types of application and
website through which the company advertised about their property.
Social media: Another tool which available for the company is the use of the social
media such as Faceboook, twitter or we can also make promotion videos for the property.
Promotional poster: the another best methods for advertising the property the company
can use the paste the poster on vacant place through and also make TV advertisements.
Activity 2: Qualify buyers
Develop a buyer’s requirements form that you could use to screen potential buyers.
Note: You will use this form in role play 1 in Case Study 2.
In order to sell the property, it is important to know about the about the buyer's
requirements. Following are the buyers could be buyer’s requirements.
Sales deed and seller name on sale deed.
 Latest tax receipts
 For the property, if any type of loan is outstanding then seller need to make a
statement from the bank.
 Encumbrance Certificate from date of purchase till date
 Latest electricity bill & receipt for the said flat
 Different sanctioned building plan and title documents owner for land
 Along with this, the buyers can also make development regression and other
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previous agreement.
 Photocopy of Society share certificate & Society registration certificate.
Activity 3: Develop a risk management plan
Develop a risk management plan that includes a minimum of three risks. Detail the
strategies you would implement to manage each risk.
In the real estae, there are different types of risk which are associated with the property.
Following are the main risks of the real estate market.
Financial risks: this risk is related to the both buyer and seller. If the buyer wants to buy
the property through the bank loan it is possible may be he unable to make an installment
of the house. On the other hand, if the property purchased for the investment t purpose
then may be prices of real estate fall in future. To overcome if such risk buyer needs to
make an inspection of the property and along with this they also need to check the future
prices of the property.
Physical asset risk: with the property may be there some other type of risk also associated
such as may be due to some kind of aging furniture buyer need to take some kind of future
risks. In order to overcome with such problems, the buyer has to make a clear inspection
of the property and ask seller to includes all kinds of potential risks which they can face in
future.
Geographic risk: property is highly affected by the place on which they are situated. In
this the business. So, the buyer needs to make an effective approach and check the market
prices of property and also they need to consider different elements such as diverse
economies and a bigger population. So, they can overcome with future risks.
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Activity 4: Arrange property inspection
a) Prepare guidelines for arranging and conducting the property inspection for each of the
properties. Your guidelines may include a checklist and should contain information
on:
▪ selecting an appropriate time
▪ preparing the property for inspection
▪ promotional materials
▪ advertising
▪ ethical and conduct standards
▪ privacy.
b) Prepare a list of questions that you may ask potential buyers who attend an inspection.
c) Prepare a list of questions that you may be asked by potential buyers.
Note: These questions will be used in role play 2.
d) Develop a form to record information from potential buyers. The form should enable
the agent to identify any follow up actions required
Along with:
appropriate time- for making an inspection the app riposte time of property is 8 am to 6
pm.
property for inspection-
Following are the property inspection guidelines for each property.
 Structure of the building
 Conditions for the flat
 The mechanical structure of apartments.
 Pest infestation
 Electrical facilities of house
 Associated environment of apartment
promotional materials- the promotion place includes property selling websites and social
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media
advertising- But giving templates of the house and posting design of eight apartments on
the web pages
ethical standards- this includes that the all the condition of apartments is displayed on the
place.
privacy- for the privacy no buyer has right about the actual prices of the house and
previous owner of apartments.
List of questions for inspection
 What types of facilities do you like in the house?
 From where they belong?
 Why do they want to buy this property?
 Where they work and how many properties they like to buy?
 If they buy property the how they can pay for this?
List of questions for potential buyers
 How many properties do they want to buy?
 How can they pay the amount of apartment ?
 Are you aware of the all consistent regarding to all conditions including the repairs
consisting of the home?
 Are you buying this house for investment or for the resident purpose?
Record information
For making the record of all the information regarding to the property following are the
documents which they need to be prepared. Such as :
A sale deed
A correct information about the seller and buyer
Tax receipts of the house and seller and buyer national identity
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Activity 5: Negotiate property sale
Read the following scenarios and prepare a report responding to the questions following
each scenario.
Property 1: House in Bayswater
The following people attended the open for inspection:
▪ Harry is interested in purchasing the property for investment purposes and intends to
rent it out. He is looking at a number of properties in the area.
▪ Ben & Yan Zhang are a young couple planning a family. Ben works in the city and
Yan works locally.
▪ Jenny & Matthew Shea are looking for a larger home for their growing family. They
currently own a two bedroom house in a neighbouring suburb and are looking for a
home in the area so that their children can continue to attend their current school.
Harry has made an offer that is $10,000 lower than the vendor’s asking price.
Ben & Yan have shown a keen interest in the property as it is in walking distance of the
childcare centre where Yan works. They have yet to make an offer but you know that
their budget does not extend beyond the lower asking price.
Jenny & Matthew have also shown a keen interest in the property as it is close to their
children’s school, the size suits their requirements and the price is well within their
budget. They are ready to make an offer but are hesitating because their own house is
currently on the market. They are currently negotiating with a potential buyer but would
like to have settlement on their own property before settlement on any property they
purchase.
(a) Discuss how you will manage the situation and negotiate the best price for the vendor.
You should discuss the following in your response:
▪ How you will submit Harry’s offer to the vendor – or will you wait to see if either
of the other couples make an offer?
▪ The advice you would give the vendor in relation to Harry’s offer.
▪ What strategies could you use to encourage either of the other couples to make an
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offer?
The Harry is purchasing the property for the investment purpose and he is also looking
property in another part in the smilar area. It is possible for the vendor if he refused
Harry's offers then he buys property in another area. So the vendor should accept the offer
of Harry as the other couples are not sure about the buying the property.
The Harry looking the property only for the investment purpose and offering the lower
prices this is good opportunity for the vendor for selling their property to the Harry. Ben &
Yan Zhang both are offering much lower prices as compare to the Harry, so vendor should
accept the Harry's offers
The strategies of the other couples is clear. Ben & Yan Zhang are not able to the make
purchase of the property and on the other hand Jenny & Matthew can be encouraged by
telling them they can make half payment after Pru cashing of their own house.
Property 2: Apartment in Elsternwick
When you appraised the apartment, you found that air conditioning unit was not
functioning properly. The owner, Anneta, tells you that it has never been serviced and she
is not prepared to have it repaired.
You have informed all potential buyers of the state of the air conditioning unit.
Jerome has made an offer on the apartment which is $5,000 below the asking price. He
believes that his offer takes into account that, at a minimum, he will need to have the air
conditioning unit serviced and may, in fact, need to replace the entire unit. You know that
Jerome is keenly interested in the apartment and that the asking price is well within his
budget.
(b) Discuss how you will manage the situation and negotiate the best price for the vendor.
You should discuss the following in your response:
▪ The advice you would give the Anneta in relation to Jerome’s offer.
▪ The documentation you should maintain throughout the negotiation process.
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The Jerome’s offer is very clear. He wants to pay is $5,000 below the asking price.because
their condition is not working properly and he will change the AC and also they want to
replace the entire units in the business so the Anneta should take his offer into account.
Following are the documentation you should maintain throughout the negotiation process.
Seller requirements and buyers requirements
Prices offer by both parties
Conditions of both parties
Last contract prices of the contract and apartments
Activity 6: Manage contract to completion
The vendor for the Bayswater property is feeling nervous as this is the first time they have
been involved in selling a property. They have asked to meet with you to discuss the
process once an offer has been accepted.
You will need to clearly explain the stages of the sales process following acceptance of an
offer, including any legislative requirements and any obligations that the vendor will be
required to meet.
Prepare a meeting presentation that covers the following points:
▪ Acceptance of offer and contract of sale
▪ Cooling off periods
▪ Handling of deposits
▪ Settlement including:
– explanation of the process
– property inspections prior to settlement
– responsibilities of the seller and the buyer including insurance
The acceptance of offers is considered at that time when both parties are willing to make
contract with each other and they are also want to buy and sell the property.
The cooling off periods is five business days. If the buyer does not feel good with the
transaction then he can cancel the contract and moved out from the contract.
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The deposits are handled are as according to the condition of the buyers and sellers.
▪ Settlement including:
Process – the settlement process of the property are based on includes both parties and
make sales deed and other documents which are important for the sale contracts.
– property inspections prior to settlement
in the vendor of the property need to allow the inspection about the settlement of the
propert in which the seller can check all conditions regarding to the property/.
For the responsibility of insurance of the buyer and seller both need to make an effective
approach in which they need to offer insurances policies regarding to the apartments
Activity 7: Calculate disbursements
Calculate the balance to be paid to the vendor for each sale.
Property 1: House in Bayswater
Sale price: $390,000
Deposit: 10% of the sale price
Commission: 2.2%
Authorised expenses: $1,750
Sale price: $390,000
Deposit held: $390,00
Commission: 8580
Expenses: 1750
Balance payable to vendor: 379270
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Property 2: Apartment in Elsternwick
Sale price: $480,000
Deposit: 10% of the sale price
Commission: 3%
Authorised expenses: $3,575
Sale price: $480,000
Deposit held: 48000
Commission: 14,400
Expenses: $3,575
Balance payable to vendor: 420975
Activity 8: Undertake to follow up activities
What activities should you undertake following settlement to maintain client relationships
and determine future contacts with prospects?
For marinating the client relationship the vendor of the company need to make an
effective communication and negotiation with the buyers. It is the duty of the vendor to
make effective negotiation and also all the conditions should be clearly specified in the
contract.
Case Study 2
Scenario: Jason
You are a buyer’s agent and have received an email from Jason Withers, who wants to buy
a house in [insert suburb and postcode].
He wants to find a house with:
▪ four bedrooms, the main bedroom with ensuite
▪ a large open living area, including dining area
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▪ a family room
▪ an outdoor entertainment area.
▪ a double garage attached to the house
▪ a reasonably level block.
Jason would like a house that is less than five years old and his budget is [insert
appropriate budget for chosen suburb].
As a requirement of this project you will need to demonstrate how you use computers to
conduct research online and access relevant databases. You must provide evidence of how
you have completed this when you submit your assessment.
Note: You will also need to submit this assessment via email to your assessor. Your
research information can be submitted in hard copy format.
Complete the questions and activities below.
▪ Detail the methods you would use to respond to Jason’s enquiry.
▪ Describe the techniques you would use to build rapport with Jason.
▪ Explain how you would make sure that you understood Jason’s needs.
▪ List the agency services that should be discussed with Jason, and an explanation of
the fee structure.
▪ Explain how you would confirm the engagement of the agency with Jason.
▪ Now research and gather information on suitable properties that meet the buyer’s
needs. Organize this information into a format suitable for analysis and
interpretation in line with agency practice.
In your report, discuss the methods you used to gather this information and why you
think it is reliable.
▪ List appropriate communication techniques you would use to consult with relevant
people to gather additional data. List at least four relevant persons you could
consult.
▪ Outline how you would use reliable and valid methods to analyse the above
information and how any assumptions and/or conclusions are supported by reliable
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evidence.
▪ Explain when you would need specialist advice and outline how you would seek
this assistance.
▪ Put together a report about the properties that meet Jason’s requirements.
Prepare a letter to Jason advising that you have the information ready for him to
discuss with you.
Write an email to Jason with the letter as an attachment –send this to your assessor as
part of your assessment for this task.
Outline how you would conduct a discussion with the client in line with agency
practice.
▪ Jason has decided that he wants to purchase one of the houses you have sourced.
He has instructed you, as the buyer’s agent, to carry out negotiations with the
seller.
Explain how you would (in line with agency practice, ethical standards and legislative
requirements) carry out the following activities:
▪ Action Jason’s instructions on purchase of this property.
▪ Manage the purchase process in a professional manner in line with Jason’s
instructions and methods of sale.
▪ Professionally conduct negotiations on behalf of Jason, employing effective
negotiation techniques to persuade and reach agreement with the seller while
showing respect for both the buyer and the seller.
▪ Use effective techniques for breaking deadlocks and dealing with conflict where
required to close the sale.
▪ Establish and confirm a mutually agreed price and conditions of sale with the seller
and refer these to Jason.
▪ Check statutory sales documentation for accuracy prior to signing by Jason.
▪ Outline how you would monitor the settlement process to ensure compliance with
the contract details and legislative requirements.
13. Detail how you would check the payments made by the buyer as part of the settlement
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process are compliant with the contract details and legislative requirements.
14. Explain the methods of communication you would use to have ongoing contact with
the buyer in order to maintain the buyer’s confidence in agency activities.
15. What opportunities would you implement to promote agency services in line with
agency practice?
16. Show how you planned, organised and scheduled your time to complete this task. Use
a diary or set up a table or similar in Word or Excel.
Role Play 1
Your assessor is a potential buyer for one of the properties from Case Study 1.
Use the buyers requirements form that you developed Case Study 1 (refer to Activity 2) to
determine the buyer’s needs and intentions.
You must demonstrate the following during this role play:
▪ effective communication and interpersonal skills to develop rapport with your client
▪ ability to communicate in a way that helps you gather the correct information
▪ ability to record information in your form in an accurate and clear manner
▪ ability to identify the factors likely to influence purchase of property
▪ ability to conduct customer due diligence – that is, to confirm the buyer’s identify,
their ability to purchase and the legitimacy of their intent to purchase.
For gathering information from the potential buyers from I used to develop buyers
recruitments from in which I can collect all important information regarding to the needs
of buyer.
Seller: why to do you want to purchase this apartment?
Assessor: for residential purpose
Seller: What types of facilities do you want to in this house?
Assessor: I want at least 2 bedroom and kitchen with garden
After making the initial introduction i asked to buyer for the to show the buyer’s identify
and their ability to purchase of property. I also gather information regarding to the for
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what purpose he want to buy the house and how will he pay the amount of the house.
Role Play 2
Your assessor will play the role of a potential buyer.
You are required to demonstrate appropriate communication and interpersonal skills in
providing information and support to a potential buyer who is interested in one of the
properties from Project 1. Your assessor will be looking for the following:
▪ effective communication
▪ appropriate presentation skills
▪ ability to identify and discuss the buyer’s needs
▪ knowledge of relevant legal and financial information
▪ identification of any factors that may impact on the sale.
Buyer: can you please show me the apartments
Seller: sure
Buyer: what types of facilities are consist by this apartment
Seller: Apartments consist of all type of the modern facilities such as three bedroom,
kitechen, and other room, living rooms.
Buyer: what are the actual prices of the apartments
Seller: $290000
After making an effective communication with the buyer, I confirmed regarding to the
buying the house. Along with there are different types of factors which can impact on
business on sale such as time, investment and sale prices all are factors which can create
an impact on the contract of sale.
Role Play 3
Your assessor will select a potential buyer from Case Study 1, Activity 5.
You are required to demonstrate the following for each potential buyer:
▪ effective negotiation techniques
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▪ effective techniques for dealing with conflict and breaking deadlocks
▪ effective techniques for closing the sale.
In the activity 5, there are three buyers who want to purchase the house. In those buyers,
the potential buyer harry, Ben & Yan Zhang and Jenny & Matthew. For each one
following are the requirement which can be demonstrated as follows.
negotiation techniques
for the Harry who want to pruchas the property for the investment purpose needs to make
Put a fair offer to the test with final-offer arbitration. With the help of this tecyhniques, the
Harry can easily pay the amount for the property.
Ben & Yan Zhang who want to make purchases for residential purpose persuasion
techniques can be useful. The couple is looking for the serious prupose so this technique
helps to buy an apartment.
Jenny & Matthew also want to buy the apartment so the anchoring bias techniques.
effective techniques for dealing with conflict
the main conflicts which are related to the to the buyers can be solve by making effective
communication with other. Through this, all conflicts can be avoided in the business
agreement.
effective techniques for closing the sale
the effective techniques for each buyer is a modern sale closing technique in which they
can close all the entries of sales.
Role Play 4
This role play refers to the scenario presented in Case Study 2 (Jason). You are to imagine
in this role play that you have just come into contact with him.
“You are a buyer’s agent and have received a telephone call from Jason (from Case Study
2) who wants to buy a house. You have arranged an interview with him.”
This role play will demonstrate your ability to interview Jason (played by your assessor) in
order to establish his requirements and have him engage your services.
As you undertake this role play, think about the questions you answered in Case Study 2
about communication strategies, and make sure you apply these here.
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▪ You are required to demonstrate appropriate interpersonal communication techniques
to establish appropriate rapport with Jason so you can handle his enquiry promptly.
▪ Use a copy of the buyer’s requirements form you developed previously to collect data,
and clarify and accurately assess Jason’s needs.
▪ Once you have established the buyer’s requirements, you will discuss with the buyer
the agency’s services and their fee structure in accord with agency practice. The buyer
will accept these and then you are required to get written confirmation of his
engagement of the agency and fee structure in line with agency practice and legislative
requirements.
For the buying the property I met with Jason and we talk in the given manner.
 Me: what types of facilities are included in this house
 Jason: all the modern facilities which are required for an individual.
 Me: how old is this house?
 Jason: five years
 How many bedroom is available in this house
 Jason: four bedrooms, the main bedroom with ensuite
After making the interview with the Jason’s I used to collect information from the buyer
agency’s services in which they need to make effective communication. I ask for services
agency about the fees structure in which they explain me regarding the fees, expensed,
commission and structure. Along with this agency also provide sales deeds and other
documents which are related to the apartment’s owner.
At the final stage, the buyer provides their confirmation through the signature on the
contract paper for the buyers and sellers need. Through this, the final step of the selling the
property comes to end.
Role Play 5
You will need the information gathered and the report you prepared in parts 6–10 of
AsCase Study 2 for this role play.
Meet with Jason and present the information, discussing with him why you feel a
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particular property would be a good choice. You are required to give Jason verifiable
evidence to demonstrate why you have made these assumptions and come to this
conclusion
By gathering the information I talk to the Jason regarding the buying the property with
effective manner. The information is as follows.
a contract of sale contains: the contract of sale must contain all information from the buyer
and seller with appropriate prices of apartments.
property prior to settlement
the property prior to the settlement the buyer can inspect the house and they also can ask
all information such as what type of repairs are associated with the house and the cooling
off period are should be five business days. For the final conclusion I made such assuption
because it includes all the different types of legislation and requtriments of the sale
contracts.
Role Play 6
The assessor will act out the role of the seller.
Jason has given you instructions to proceed with the purchase of the property, which is
being sold by private sale.
You are required to action these instructions in line with Jason’s instructions, agency
practice, ethical standards and legislative requirements. You will do so in the following
ways:
▪ Manage the purchasing process in a professional manner by conducting negotiations
with the seller on Jason’s behalf, showing respect for both the seller and Jason during
this time.
▪ Use effective negotiation techniques to persuade and reach an agreement with the
seller.
▪ Use effective techniques for dealing with conflict and breaking deadlocks.
▪ Use effective techniques for closing the sale.
▪ Establish and confirm a mutually agreed price and conditions of sale with the seller
and then refer these to the buyer.
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▪ Check all statutory sales documentation for accuracy prior to signing by the buyer.
During the purchase of the property, this is being sold by private sale consist the following
requirements.
Jason’s instructions: the son's requirements for the buying house that he wants to buy the
house with four bedrooms,
 a large open living area
 family room
 double garage attached
ethical standards and legislative requirements. The ethical standards for the selling the
property is that all the commission of the sale deed must be fulfilled by the seller and
buyer. All the terms are conditions of the contract should be followed and no mislead
infomration need to be provided. The legislative requirements for the sale are that it
contained all information regarding to the sale contract.
For selling the property I talked to the Jason for the purpose. I talked to both seller and
buyer for the and d ask to their final conditions regarding to the property. For closing the
seal I use an effective negotiation techniques in which is a need to prefer that all the
parties set their condition and present what is their final offers for each other.
The effective techniques for dealing with conflicts are through the communication. With
the help of communication process, I can fix the conflicts. At the last, both seller and
buyer set the prices property and agreed upon on single prices.
12. Procedures of assessment submission
12.1 Assessment submission
cover sheet
All written assessments must be submitted with a
completed Assessment Submission Cover Sheet. The cover
sheet must be signed and dated by the submitting
participants attesting that the work submitted is their own
(or, individually by each member of the group in the case
of group assignment) and they are aware of the ACBT’s
policy and procedures regarding plagiarism, collusion and
cheating or academic misconduct.
CPPDSM4001A & CPPDSM4022A
Validated 10/01/2017
Version 2
Australian College of Business and Training (Provider no. 40493)

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Assessments submitted without a signed and completed
cover sheet would be considered procedurally incomplete,
hence it will not be assessed. Template of Assessment
Cover Sheet for this unit is provided as Appendix I in this
document.
Please collect and complete such Assessment Cover Sheets
before you submit your assessment tasks.
12.2 Late submission of
assessment
Participants should submit their assessments prior, or on
the due time/date of the submission. Late submission
without a valid reason (as listed in the Participant
Handbook) or prior approval will not be accepted and
students will be marked as ‘Not yet competent’ for the
unit.
12.3 Assessment
performance and record
Your performance in all assessment will be evaluated
against the performance criteria, required skills and
knowledge and critical evidence as specified above. You
must undertake each task or answer each question correctly
to be deemed competent in the given assessment. Your
results for each assessment will be recorded as
‘Satisfactory’ or ‘Not Satisfactory” for each question or
task and for the assessment as a whole.
If you have achieve a satisfactory result in the whole
assessment (Assessment Tool 1 & 2) you will be deemed
‘Competent”. If the result will be unsatisfactory in any of
the assessments you will be declared “Not Yet
Competent”. For further information please refer to the
Participant handbook.
12.4 Accessing results You have rights to access your personal details and your
performance including assessments results any day by
completing a simple request form. Please contact ACBT
Administration or your trainer/assessor to learn about these
CPPDSM4001A & CPPDSM4022A
Validated 10/01/2017
Version 2
Australian College of Business and Training (Provider no. 40493)