Real Estate Guidelines & Legal Framework

This assignment delves into the crucial aspects of real estate guidelines and legislation. It investigates legal frameworks governing real estate practices and analyzes their impact on profitability within firms. The research includes a study of successful real estate brokerage models and insights from experts in the field. A key objective is to develop comprehensive guidelines that City Surf staff can utilize to ensure ethical and legally compliant operations, ultimately leading to enhanced client satisfaction and business success.

CPPDSM4080A - Work in the real estate industry and
CPPDSM4008A - Identify legal and ethical
requirements of property sales to complete agency
work (NSW)
Portfolio of evidence

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Instructions
To help Open Colleges manage your assessment, please use the following file-naming
convention when you save your Microsoft Word document. Your file should be named and
saved to your computer hard drive using your:
[Student number]_ [assessment] _ [assessment number].docx
For example:
12345678_21850a_01.docx
Competency details
CPPDSM4080A - This unit of competency specifies the outcomes required to enable a new
entrant to the industry to gain a basic understanding of the industry and work ethically and
effectively in a real estate agency. This includes awareness of ethical and conduct
standards, core functions of real estate agency operations, legislative and regulatory
framework within which the industry operates and industry employment requirements.
CPPDSM4008A - This unit of competency specifies the outcomes required to meet the core
legal and ethical requirements associated with property sales. This includes awareness of
the legislation relating to property sales, the role and responsibility of agency personnel in
property sales, the administration of sales transactions and the completion of sales
documentation.
The units may form part of the licensing requirements for persons engaged in real estate
activities in those States and Territories where these are regulated activities.

Getting started
The assessments have been designed to provide evidence that demonstrates your
competence in the units CPPDSM4080A - Work in the real estate industry and
CPPDSM4008A - Identify legal and ethical requirements of property sales to complete
agency work.
Your trainer will:
 answer any questions that you have about the assessment
Assess your competence as stipulated in the unit of competency by making judgments about
the evidence you have presented in line with the rules of evidence – validity, authenticity,
currency and sufficiency.
 Provide feedback on the outcomes of the assessment process.
Introduction
You are required to complete three assessments CPPDSM4080A - Work in the real estate
industry and CPPDSM4008A - Identify legal and ethical requirements of property sales to
complete agency work.
This assessment is designed to gather evidence of your competence, specifically:
 Develop knowledge of estate agency operations and property sales
 Interpret and comply with legislative and agency requirements
 Model ethical practice
 Develop knowledge of sales process
Identify industry employment requirements and the roles and responsibilities of sales
personnel
Assessment Description
32982/02 Portfolio of evidence – Case Study
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Assessment 2:
Case Study:
City Surf Real Estate has been operating for over 2 years. You commenced working for the
organisation six months ago as a residential property sales agent.
Since its inception the agency has grown rapidly and there are key aspects of its day to
day operations which need to be reviewed to ensure that all work tasks are carried out in
accordance with industry and legislative requirements.
You have just attended a meeting with Jim Sykes the owner of the agency, who has asked
you to take on more responsibilities which includes the completion of key tasks as required.
He has also indicated that these tasks will be beneficial to your professional development
and growth within the agency and will assist in any future advancements within the
organisation.
Jim has requested that you complete the following and report back to him in two weeks for
final review and implementation:
 Real estate industry booklet for employees
Before you complete the following activities you will need to read the document in Appendix
A, which provides you with the City Surf Real Estate company profile, including a chart which
outlines the roles of the employees working within the agency.
Activity 1: Employee Real Estate Industry Guideline
In your meeting with Jim he requested that you develop an industry booklet for all
employees. Due to the rapid expansion of the agency and the need to recruit additional staff
in the coming months, Jim is concerned about the quality of the agency falling below the
standards he has set and would like the booklet to form part of the initial induction of all new
staff and it is to be made available to all existing staff as part of their ongoing training and
professional development.
You have been provided with the following templates which must be used when completing
this activity. Once completed you will need to submit both completed templates for this
activity.
 Appendix B – Employee Real Estate Industry Guideline Appendix C – Research and Reference Index
Part A: Research and Referencing
To complete this activity you will need to conduct all necessary research using software
applications, websites and internet pages which must be referenced using the template
provided in Appendix C.

You will also need to provide two screen shots of different web pages or software
applications you have utilised during the research and preparation of the guideline to
demonstrate your computer skills.
Part B: Industry Guideline
When completing Appendix B - Employee Real Estate Industry Guideline you must ensure
that you have addressed each of the points below in detail:
(Word count: 2000)
Section 1: Estate Agency Operations
a) Provide a brief outline of the agency (sales person) principal relationship and the key
legislative requirements which must be met when enter into this type of relationship.
b) Give an overview of the key responsibilities of the following key personnel working
within City Surf Real Estate and the registration and licencing requirements for each
role:
 Real Estate Principal Agent
 Accredited Auctioneer
 Property Manager/Sales Representative
NOTE: your response needs to address
 disclosure requirements
 sanctions for violations
 controls on secret commissions
 liability for breach of contract and negligence
c) List 4 key operations which are conducted within City Surf Real Estate and provide an
overview of the legislative and agency requirements which need to be adhered to for
each area listed.
d) City Surf ownership is registered as a corporation. Provide a brief explanation of what
the licencing requirements for a corporation are in comparison to a partnership within
the property services sector.
Section 2: Legislative and Agency Requirements
Conduct the necessary research to complete the following points and ensure that your
references are recorded in Appendix C – Research and Reference Index:
e) List 5 key legislations related directly to working in property services which must be
followed and provide an example of how you apply each listed legislation within your
own role.
f) Based on NSW Legislative and Agency requirements provide information on:
 Licencing eligibility requirements
 Certificate of Registration eligibility requirements
NOTE: for each point listed above you must include details of:
 who is required to obtain the certifications,
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 where the specific application can be sourced and
 the penalties which can be imposed if these requirements are not adhered to
g) List and provide a brief overview of the legislative requirements which must be
followed working at City Surf Real Estate regarding:
 Privacy and Confidentiality
 Consumer Protection
 Equal Employment Opportunity
 Workplace Health and Safety
h) Explain how trust funds are used in property services, who is authorised to manage
the funds and the legislative controls which must be followed to ensure compliance.
i) Conduct the required research and list:
 3 key government agencies and their direct relation to working at City Surf
Real Estate.
 2 key industry bodies and their direct relation to working within the property
services sector. (Provide an example of when you would contact these
organisations).
Section 3: Ethical Practices
Conduct the necessary research and address the following points related to ethical practices
and principals within the property services sector.
j) Provide the name and website address for the ethical practices/standards which
applies to the property service sector and outline the key aspects of the standards
which relate to:
 General ethical standards which should be applied when working at City Surf
Real Estate
 Ethical and conduct standards specific to the sale of a property
 Penalties for breaches which are directly linked to legislative and agency
requirements
 The agent’s liability for breach of contract and negligence
k) To ensure ethical conduct and practices are followed it is necessary to call on
specialist advice as required for specific situations. List the appropriate specialists
within your area you would call for assistance and advice to deal with:
 Maintenance issues
 White ant issues
 Building plans
 Building or land valuations
 Questions regarding title or encumbrances
Section 4: Roles, Responsibilities and Employment Requirements

It is important for both employers and employees working in property services to have a clear
understanding of the employment requirements, rights and responsibilities in the workplace
and conditions of work. Conduct the necessary research to address the points below:
l) Based on your own experience working within the industry, outline the personal
presentation and image which must be followed working at City Surf Real Estate to
meet industry and agency norms.
m) Research and list the industry award for persons working in the property services
sector in your state and in your role as a Property Sales Representative working on
commission only, list the sections in the award which covers minimum wages and
conditions.
n) List the section of the award which covers issues related to:
 Salaries and commissions
 Grievances and disputes
o) Briefly outline how the Common Incentive or Commission Scheme works at City Surf
Real Estate and how commissions would be calculated using this scheme.
p) Detail the responsibility all staff have regarding their professional development and
currency when working as a registered or licenced property services agent or
representative. Provide an example of the type of activities and training which could
be undertaken.
q) Outline the methods which can be used to plan organise and schedule tasks to meet
required timelines and provide examples of how to ensure that factors such as taking
deposits, completing applications, arranging property inspections and meeting
customer needs are completed.
Provide a screen shot of your current method for managing your work (e.g. diary,
online calendar)
Section 5: Risk Management
r) Provide a paragraph outlining the general risk management strategies which need to
be implemented when advising clients on sales, property management
Section 6: Understanding the Sales Process within a Real Estate Agency
One of the key areas of revenue for City Surf Real Estate is the sale of properties and in your
role as a Property Sales Representative you have a clear understanding of the process
which must be followed to meet both legislative and agency requirements. Jim has requested
that a guide is provided for all staff to establish the requirements in this key arear of the
business.
Using brief outlines and bullet points where applicable address each point below:
s) Requirements:
 Types of characteristics of land tenure systems
 Legislation which regulates the sale of properties
t) Checks which are conducted to ensure Certificate of Title is accurate
u) List the various types of listing opportunities which can be utilised by law
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v) List the methods of sale which can be implemented which meet legislative
requirements
w) Provide a bullet process for marketing and settling the sale of a property including the
receipt, recording and release of monies.
x) The purpose and terms of statutory statements which are required for the sale
y) Commissions payable to the agent and how they are calculated
Activity 2: Email to Jim Smyth
Having completed the Employee Real Estate Industry Guideline within the two week
timeframe you need to email the booklet to Jim so he can review the document and verify
your understanding of the legislative requirements and approve the booklet for distribution.
Using the template provided in Appendix D – Email, draft an email to Jim explaining the
purpose of the email and requesting his approval and verification of the content and your
knowledge.
Activity 3: Email to all City Surf staff
Jim has reviewed the guideline you developed and has verified your understanding of the
legislation and related industry practices which he would like all employees to have
knowledge of. Jim has requested that you email all employees informing them of the
guideline, its purpose and notify them that it is a requirement at City Surf for all employees to
read and understand all section within the booklet as part of their CPD.
Using the template provided in Appendix D – Email, draft an email to all employees notifying
them of the guideline and the requirements to be followed as provided by Jim.

Checklist
You will need to complete the following:
Activity 1:
Employee Real Estate Industry Guideline
Research and Reference document
Activity 2:
Email to Jim Smyth
Activity 3:
Email to all City Surf employees
Note: The field boxes above are a self-checklist. Double click each check box to mark as
complete.
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Appendix A: City Surf Real Estate Agency - Company Profile
City Surf Real Estate Agency has been in operation for approximately two years. It is owned
and operated by Jim Smyth who is the licensee and auctioneer in charge and the business is
registered as a corporation.
A.C.N: 012 364 788
GST: Registered
PH: 0000 00000
Email: [e-mail]
City Surf Real Estate prides itself on providing exceptional service within the residential and
commercial sectors of the industry, which consists of:
Residential:
 Buying and selling of properties for non-business purposes including residential and
rural sales and vacant land sales
 Management of residential rental properties including management of tenancies,
maintenance, repairs and inspections
Commercial:
 Buying and selling of properties for business purposes including industrial, retail,
warehouse and office
 Management of commercial properties (leasing) including management of tenancies,
maintenance, repairs and inspections
City Surf Real Estate is currently not operating within the holiday letting sector, although this
may be opportunity in the near future as there are continual enquires regarding this type of
letting.
City Surf Real Estate is committed to provide all clients with quality customer service, fast
and efficient processing of all documentation and continued support following the sale or
purchase of a property to foster ongoing and successful relationships.
Our property management services sector understands the need to maintain the standards
of each property and ensures that continuous contact is kept with both the lessor and lessee
at all times and arranges the repairs and maintenance of properties in a timely and efficient
manner.
City Surf Real Estate has several employees as outlined in the organisational chart below:

Appendix B: Employee Real Estate Industry Guideline
Section 1: Estate Agency Operations
a) Provide a brief outline of the agency (sales person) principal relationship and the key
legislative requirements which must be met when enter into this type of relationship.
Principal agent relationship is an agreement which is made between an
agent and the principal which is a legal contract. This is defined as a
legal relationship of appointing an agent by principal who works on the
behalf of principal and representative of his property. The type of relation
between principal and sales person or agent is known as agency. Sales
person in real estate industry act as an agent which develop sales on
behalf of owner of property by developing an relationship between each
of them and following the relations of agency in commercial
environment.
b) Give an overview of the key responsibilities of the following key personnel working
within City Surf Real Estate and the registration and licencing requirements for each
role:
 Real Estate Principal Agent
As per norms of NSW legislation following real estate personal should have
licence of working in New South Wales as per provision of Property, stock and
Business agent act of 2002 are:
 License of real estate agent.
 Registration for stock and station agent (Apply for a real estate agent
licence. 2017).
 License for on-site residential property manager.
The role of all these to run an successful business of real estate in business
environment and more and more profit over property sales.
 Accredited Auctioneer
To be an Auctioneer accreditation for stock and property the person should
have the licence of real estate or stock and station agent registration with
qualifying all required qualification of registration (Apply for an auctioneer
licence. 2017). the Auctioneer license holder is accredited with the statement of
attainment provide as per the norms of NSW fair trade act. Application form for
the accredited auctioneer can be received from the Australian Business licence
and attained from Fair trading of NSW.
Applications of this respective working personnel as Accredited auctioneer
should be posted to:
 NSW Fair Trading: These defines the practices of fair trending which
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should be followed in the action of real estate business.
 Parramatta NSW 2124
 Property Manager/Sales Representative
Individual will need registration as a sales representative and licensing to work
under legal obligations for the city surf real estate organisation business agent.
The rule to the registration as property manager is defined in Real Estate and
Business Agents Act 1978 (Registration as a Real Estate or Business Sales
Representative, 2017). The responsibilities of a property manager is to contact
the target customers for company sales and presenting products and lands to
the customers. NSW fair trading act defines the requirements of sales
representative and property management requirement to get an approved
licence with statement of attainment in NSW. The role of sales representative
are also defined in this respective fair trading act with defining that person is
having role of increasing sales of property for company.
c) List 4 key operations which are conducted within City Surf Real Estate and provide an
overview of the legislative and agency requirements which need to be adhered to for
each area listed.
Key operation of City surf real estate firm in which is is engaged to deliver their
services are as follows:
 Residential sales,
 Residential property management,
 Commercial sales &
 Commercial property management
All these key operation of business are should be carried out in practical
environment complying with the provision of various legislation defined in NSW
business environment like Property stock and business agent act of 2001.
Following up the norms of PSBA regulation defined in 2014 and provisions of
Residential tenancies stated under Residential Tenancies Act 2010.
d) City Surf ownership is registered as a corporation. Provide a brief explanation of what
the licencing requirements for a corporation are in comparison to a partnership within
the property services sector.
(Thomas von Hahn and Mario Pedro. 2016. New Act Will Require Ontario

Corporations to Maintain Register of Real Estate Holdings)
Regardless of corporation or partnership relationship in city surf real estate
organisation only the person holding is who is accessible for all charges in firm
should be holed with an legal licence to work. Director should meet following
qualification requirement in order to get corporation licence:
 Corporation should be fit to achieve an licence.
 Director of corporation should also be fit for all requirements to hold working
licence.
 It is necessary that one of the director should at least have licence.
Section 2: Legislative and Agency Requirements
e) List 5 key legislations related directly to working in property services which must be
followed and provide an example of how you apply each listed legislation within your
own role.
The various legislation with relation to the real estate industry can be:
 Anti-discrimination Act, 1977 (NSW)
 Property Stock & Business Agents (PSBA) Act 2002: Describe the rules and
provisions which are to be followed in purchasing stocks and property.
 PSBA Regulation 2014
 Privacy Act 1988,
 Residential Tenancies Act 2010
f) Based on NSW Legislative and Agency requirements provide information on:
 Licencing eligibility requirements
Director general should complete the following eligibly criteria in order to get
personal licence are:
 Person should have minimum age of 18 years.
 Person having an licensee partnership while working is also eligibility
to accomplish criteria of licence.
 The applicant should not be disqualified person by government or
other authority
 Certificate of Registration eligibility requirements
Director general should satisfy the requirement of certificate of registration
which is defined as follows:
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person at least should have reached at age of 16 years
person should fit into all the requirements of certificate of registration.
Individual should not be disqualified person by NSW regulatory authorities.
g) List and provide a brief overview of the legislative requirements which must be
followed working at City Surf Real Estate regarding:
 Privacy and Confidentiality
The Privacy and Personal Information Protection Act 1998 (PPIP Act) is the
legalisation which provides direction to the employer and employees of city
surf real estate corporation in order to protect the personal information of
people working with firm. Confidentiality to information states that while
working for behalf of principal the agent cannot convey or communicate
important information of organisation which may affects firm’s functionality,
operations or profitability or may leads to some kind of losses.
 Consumer Protection
The city surf real estate corporation should work in compliance with various
legislation like Fair Trading Act 1987 (NSW) and Competition & Consumer
Act 2010 which is an renamed form of trade practices act of 1974 in order to
work in compliance with the consumer protection act in property sector. The
buyer should have knowledge about the trending processes for property,
have right to see and investigate land before purchase and also having right
to offer an price.
 Equal Employment Opportunity
Anti-Discrimination Act 1977 (NSW) states that the organisation should take
care that every employee or sales agent working for the profitability of firm
should be provided with equal opportunity for growth and career
development. The employees should be provided with equal opportunities to
use company resources without any discrimination.
 Workplace Health and Safety
The employer of city surf real estate agency should take care of safety
measures in the workplace. The organisation should have first aid for
keeping active towards the accidents or health related issues.
h) Explain how trust funds are used in property services, who is authorised to manage
the funds and the legislative controls which must be followed to ensure compliance.

Trust fund is an approach of en-cashed organisation in business environment.
License is the individual who is authorised person to open account in general trust
which provides an authority to deposit in bank with an identifying number as
legalised by NSW fair trading practices rules. The monthly return is lodged by
deposit taking institution (bank) to the licensee. Under the provisions of
Conveyancers Licensing Act 2003 the licensee needed to acquire funds of an client
in trust account which is kept by ,licensee in an deposit taking organisation
Authorised by higher regulatory bodies in NSW which should be passed on
approval of Director-General, System of Services and Innovation and department of
Finance.
i) Conduct the required research and list:
Three (3) key government agencies and their direct relation to working at City Surf
Real Estate.
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 Land and Property Information NSW (LPINSW) This is the group which
provide information about the land in Australia.
 The institute of real estate in Australia is another agency which affects the
real estate industry to large extent.
Two (2) key industry bodies and their direct relation to working within the property
services sector. (Provide an example of when you would contact these
organisations).
Industry association and business adviser are some of the key industry bodies who
can helps city surf real estate organisation to work effectively in business
environment. These industry helps in providing advice to the company to improve
performance and sales.
 REA Group Ltd is an subsidiary of parent company REA group providing
online real estate marketing services globally headquarters located in
Melbourne Australia.
 REINSW Road-show 2017 discussed about problem and issues of more
than 900 people throughout the NSW in its latest road-show of 2017.
Section 3: Ethical Practices
j) Provide name and website address for the ethical practices/standards which applies
to the property service sector and outline the key aspects of the standards which
relate to:
 General ethical standards which should be applied when working at City Surf
Real Estate
The agent should be responsible towards his duties to enhance
professional competence. The individual should work as per needs of
clients and show land and property as per budget of client. The agent
should keep his personal issues at home and should be professional
towards his work-life.
Website address:
http://www.fairtrading.nsw.gov.au/ftw/About_us/Have_your_say/Real_estat
e_and_property_industry_reforms.page
This defines about the ethical standards which are to be followed by an
accredited auctioneer or sales representative or property manager to work
ethically and prove satisfactory services to clients.
 Ethical and conduct standards specific to the sale of a property
While making any offer to the client related to sale of property the sales

agent should have good knowledge about prices existing in localities. The
person should also offer right price to the right property to work ethically in
real estate sector. The standards ethics defined in NSW fair trading to sales
representative are:
 React to the customers best interests.
 Keep conditionality in his work and
 Act responsibly as per the client authority.
 Penalties for breaches which are directly linked to legislative and agency
requirements
Seriousness of the offence can be determined by the penalties. The guilty of
the fraud in trust account will be liable to pay the penalties. The value of
penalty is up-to maximum 22000 dollars for unlicensed trading by an
organisation or corporation. This amount of up-to 11000 dollars in case of
penalties to the individual for unlicensed working.
 The agent’s liability for breach of contract and negligence
The liability of agent towards the breach of contract is that the agent is
responsible if he bears any loss in case of breach in the fiduciary duty in
agency relationship with principal. While the act of negligence is that agent
is liable for his breach of duty of care while working for the city surf real
estate corporation.
k) To ensure ethical conduct and practices are followed it is necessary to call on
specialist advice as required for specific situations. List the appropriate specialists
within your area you would call for assistance and advice to deal
 Maintenance issues
My property house is a specialist agency which his helpful in providing all
type maintenance issues faced by a client after purchase the property. The
city surf real estate company wok in integration with this respective
specialist to provide quality services to clients.
 White ant issues
Pest control association is a specialist agency who is providing better
services to the client in order to deal with the problem of white ant in home
and properties. The city surf real estate company is also working with this
agency to provide solution to problems and issues faced by clients.
 Building plans
Domain is a specialist organisation who is providing better building plans to
the clients and the city surf real estate company. This will help in providing
better home design and building architecture by corporation as per the
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needs of clients.
 Building or land valuations
Deloitte. Australia is an group of specialist who provide an advise to
evaluate the property and land purchases or registered by city surf real
estate. This group is expert in providing advice and analysing the market
trends related with the profit margin in in the particular land or property of
Australia. Land and Property Information (LPINSW) in North Southern
Wales provides the client information about the licensing and registration of
particular property or land in NSW of Australia.
 Questions regarding title or encumbrances
Residential Settlements is the specialist firm which help in dealing with the
various issues related with Easement, memorials, restrictive covenant to
helps city surf real estate to work ethically and legally in business
environment. LPINSW i.e. Land and Property information in NSW provides
information about the various questions regarding the title of property, its
encumbrances and Certification of title for specific land or real estate
property.
Section 4: Roles, Responsibilities and Employment Requirements
l) Based on your own experience working within the industry, outline the personal
presentation and image which must be followed working at City Surf Real Estate to
meet industry and agency norms.
Sarah Hampden manager of Evansdale Reality is working as Licensee in-charge
and manager experiences all the operations of firm like sales, management of
property, trust accounting etc.
Property sales representative Adrian Carrasco experiences all the work and
projects of sales process both in office as well as on road.
m) Research and list the industry award for persons working in the property services
sector in your state and in your role as a Property Sales Representative working on
commission only, list the sections in the award which covers minimum wages and
conditions.
Real Estate Industry Award 2010 is the award providing with the best performer
employee in the industry with higher responsibilities contributing to his professional
life. Its section A deals with the minimum wages and piecework rates in the property
sector.
n) List the section of the award which covers issues related to:
Salaries and commissions
Clause 16.2 deals with the commissions of working with employees in real estate.
While the Section A defines the salaries, minimum wages and piece work for the

employees and sales agent working in the real estate sector.
Grievances and disputes
Fair Work Commission clause 9.1 defines the dispute handling and resolving the
grievance related issues with the employees in workforce. The city surf real estate
company should be working with these clauses defined in The Real Estate award in
order to practise legal practices in resolving various issues.
o) Briefly outline how the Common Incentive or Commission Scheme works at City Surf
Real Estate and how commissions would be calculated using this scheme.
Commission incentive or commission scheme are the remuneration to the sales
agent of real estate who is an award for selling property to client. This scan be
provided 1% of the total amount of the property sold by an agent.
p) Detail the responsibility all staff have regarding their professional development and
currency when working as a registered or licenced property services agent or
representative. Provide an example of the type of activities and training which could
be undertaken.
Open training session can be given to the employees for his professional
development to provide higher sales to the city surf real estate. This will helps in
gaining more professional competencies to carry out their responsibility in working
environment effectively. CPD is an important aspect of fair trading in NSW which
provides training to the licence and certificate holder working in the market of real;
estate.
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q) Outline the methods which can be used to plan organise and schedule tasks to meet
required timelines and provide examples of how to ensure that factors such as taking
deposits, completing applications, arranging property inspections and meeting
customer needs are completed.
The individual or sales person can schedule his activity and meeting to the client
effectively by making memory notes and scheduling the task as per the
requirements.
Screen shot of current method for managing work (e.g. diary, online calendar)
<upload here>
Section 5: Risk Management
r) General risk management strategies which need to be implemented when advising
clients on sales, property management.
The client can manage the various risk associated with purchasing of property by
analysing the current trends in price fall and increment of the land or property.
Another risk of changing needs of client can be advised to the sales person to
Illustration 1: Method of managing work in real estate
Source 1: Surabhi Kejriwal, Saurabh Mahajan. 2016. Smart buildings: How
IoT technology aims to add value for real estate companies.

provide property as per their requirements.
Risk management practices for Real estate agent are as follows:
 Follow up a significant standardised process of work with every one.
 Develop a efficient communication log while making any transactions.
 Always develop a record of your every transaction.
Section 6: Understanding the Sales Process within a Real Estate Agency
s) Requirements:
 Types of characteristics of land tenure systems
There are various types of land tenure which are as aligned below-
Freehold- The Land Act 1998 has been defined such tenure. They must be
owning the land for long life.
Mail- They hold permanent ownership of the property.
Customary- They hold land communally.
Land and Property Information (LPI) holds biggest centred land title registration
in continent Australia. All the land entitled with freehold comes under Torrens
titles in NSW of Australia. This Torrens title of land describes the boundaries of
parcel land in Australia.
 Legislation which regulates the sale of properties
Australian property legislation is able regulates sale of properties law.
It consists various rules and regulation which are imposed on parties.
The legislation related with sales of property are as follows:
 PSBA act of 2002
 PSBA regulation act of 2014
 Competition and Consumer act 2010
t) Checks which are conducted to ensure Certificate of Title is accurate
There is largest legal authority which is able to centralised land title name called
Land and Property Information. They are responsible to maintain process of registry
in country Australia. Property agent is needed in providing information about the
real estate property and the mangers managers al the property as per the
requirements of client and land titles defined by LPI NSW.
u) List the various types of listing opportunities which can be utilised by law
There are various types listing agreement provided by law which can be used are
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as aligned below-
Open listing- In this, owners are only able to sell their property by themselves only.
Exclusive agency- In which owners of property do not reserves all the right to sell
their property.
Sole agency- This can be defied as that only a single sales representative is
holding responsibility of selling particular property.
v) List the methods of sale which can be implemented which meet legislative
requirements
Listing a property for sale Method of sales
Every property Auction
Private property Private treaty
Some land transfers Formal tender
Properties with higher level of
competition
Informal tender
w) Provide a bullet process for marketing and settling the sale of a property including the
receipt, recording and release of monies.
In order to settling the sale of property both seller and buyer responsible to frame
legal agreement and mentioned all relevant information in it name called receipt,
consideration amount and much more. Both parties are responsible to follow rules
and regulation which are imposed on them. The sale of property should be
conducted by both seller and buyer through fulfill requirement of sales of property
process. Sellers have to provide receipt to buyer initially in order to made payment
which is essential in further process.
x) The purpose and terms of statutory statements which are required for the sale
There are various types of terms and conditions mentioned under statutory
statements which are related to sale of property. In written legal document they
have to mentioned amount of consideration and must the same as well. In act of fair
trading of NSW it is defined with the roles and responsibilities of agent, property
manger and accredited auctioneer.
y) Commissions payable to the agent and how they are calculated
Agent perform his duty which are imposed on him and for which they charged
commission. Rate of such commission has been decided by mutual consent of both
and calculated accordingly. The commission for the sales of property to the agent is
defined by the fair trading regulatory bodies of NSW and also this can be calculated

by the mutual consent of agent and principal.
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Appendix C: Research and Reference document
Reference Name Reference Type (Website, url link, book title)
e.g. Real estate industry award https://www.fairwork.gov.au/.../real-estate-industry-award-ma000106-pa...
Apply for a real estate
agent licence. 2017
https://www.qld.gov.au/law/laws-regulated-industries-and-
accountability/queensland-laws-and-regulations/regulated-
industries-and-licensing/regulated-industries-licensing-and-
legislation/property-industry-regulation/get-a-property-
industry-licence-or-registration/real-estate-agent-licence-or-
registration/apply-for-a-real-estate-agent-licence
Apply for an auctioneer
licence. 2017
https://www.qld.gov.au/law/laws-regulated-industries-and-
accountability/queensland-laws-and-regulations/regulated-
industries-and-licensing/regulated-industries-licensing-and-
legislation/property-industry-regulation/get-a-property-
industry-licence-or-registration/auctioneer-licence-and-
registration/apply-for-an-auctioneer-licence
Registration as a Real
Estate or Business Sales
Representative. 2017
http://www.licence.smallbusiness.wa.gov.au/
BusinessLicenceFinder/prod/licence/8219
Thomas von Hahn and
Mario Pedro. 2016. New
Act Will Require Ontario
Corporations to Maintain
Register of Real Estate
Holdings.
http://www.blakesbusinessclass.com/new-act-will-require-
ontario-corporations-to-maintain-register-of-real-estate-
holdings/
Camou, M and Patton, W.,
2012.
Deregulation and Higher Education: Potential Impact on
Access, Affordability and Achievement in Ohio. Education.
Policy Matters Ohio.
Stevens, C. D., 2010. Commentary: Taking back year 4: A call to action. Academic
Medicine. 85(11). pp.1663-1664.
Redford, L., 2014. The Promise and principals of Real Estate Development in
an American Metropolis: Los Angeles 1903-1923. University
of California, Los Angeles.
Poterba, J., Venti, S and
Wise, D. A., 2013.
Health, education, and the postretirement evolution of
household assets. Journal of human capital. 7(4). pp.297-
339.
Hill, G., 2010. The 2011 Chicago North Side Real Estate Guide: Bucktown,
Wicker Park, Lincoln Park, Lake View, Gold Coast,
Streeterville. Andersonville, Wrigleyville, Ravenswood and
More. Wexford House Books.

Flint-Hartle, S and De
Bruin, A., 2011.
Franchising success: Insights from real estate brokerage.
International Small Business Journal. 29(1). pp.58-77.
Cox, M., Brown, M. A and
Sun, X., 2013.
Energy benchmarking of commercial buildings: a low-cost
pathway toward urban sustainability. Environmental
Research Letters. 8(3). p.035018.
Surabhi
Kejriwal, Saurabh
Mahajan. 2016. Smart
buildings: How IoT
technology aims to add
value for real estate
companies.
https://dupress.deloitte.com/dup-us-en/focus/internet-of-
things/iot-commercial-real-estate-intelligent-building-
systems.html
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