Prepare for Professional Practice in Real Estate

CPPREP4001 Prepare for
Professional Practice in Real Estate

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Regulatory framework of the property service industry..............................................................3
Steps to take to be employed.......................................................................................................4
Business identity that is utilized and rationalized........................................................................5
Task 2...............................................................................................................................................6
Advertisement for sales...............................................................................................................6
Advertisement for property management....................................................................................6
Advertisement for administration................................................................................................7
Task 3...............................................................................................................................................8
a) Job Description........................................................................................................................8
b) An example of each role’s contractual and fiduciary responsibilities....................................9
Task 4.............................................................................................................................................10
Task 5.............................................................................................................................................14
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................18

INTRODUCTION
Real estate can be defined as land which is being purchase with permanent changes attached
with it. It includes, natural or man made changes such as, water, trees, buildings or any other.
Professional development is important because it helps in building good image in market and
employees should develop some skills which can be applied to generate more profit and it will
help in satisfying needs of customers. LJ Hooker is a real estate industry which was founded in
1928 by Sir Leslie Joseph Hooker (Glaeser and et.al., 2017). Its headquarter is situated in
Sydney, Australia and it serves many areas such as, Australia, New Zealand, Indonesia, China,
Hong Kong, Papua New Guinea and Vanuatu. There are 8000 employees working in the
organisation and company provides good services to consumers. In the present report, regulatory
framework of property service industry, advertisement given in newspaper, job description for
position is discussed. Further, different communication strategy such as, using plain language,
verbal and non verbal communication is described and its importance. Further, professional
development pathways within real estate is discussed and how it will help in achieving goals and
objectives of company.
TASK 1
Regulatory framework of the property service industry
Real estate industry is the one of the most important prime driver of the growth in the
economy and contributed to the GDP of the Australia. From the real estate sector gives the
tremendous growth in the country. The licensing framework of the real estate and the property
service sector was reviewed in 1997 in Australia (Ullah, and Al-Turjman, 2021). The NSW
government has introduced various reforms in the last 18 years for the protection of the
consumer in the real estate industry sector some of them are:
 The law are strengthen for forbid the underqouting in the real estate sector.
 Consumer’s compliant data are to be regular published.
 In the off plan property sales the use of the sun set clauses are increasing the protection
against this.
 Pre purchase property reports inspection cost is to be reduced.
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The NSW fair trading needs to necessary delivers the services and the regulatory frameworks of
the real estate and to the property markets that are experts. For this NSW government introduced
for the real estate and the division in the year 2015 of the fair trading. People who are working
the NSW service property sector have compulsory to have certificate or the registration or the
license according to the Property and business Agents Act. The license can be hold by the
individual or by the corporation. The property business can be done by the individual can hold an
appropriate license and have following can hold it:
 Real estate agents.
 Business agents.
 Stock and the station agent.
 Community scheme managing agents and many more.
There is general eligibility for the requirements in the real estate license that is managed the
business that is:
 Should be of 18 year of age for the license and have completed 16 years for the
registration.
 Individual should have to be fit and fine and if the business is in the partnership than all
the partners are to fit and fine (Carmichael, and Coën, 2018).
 Disqualified persons are not eligible.
 Qualification is must to get the license.
 Have to pay some contribution in the property service compensation fund.
Steps to take to be employed
To get work with the NSW industry of property as a agent need various documents
required and also other experiences that are:
First check the eligibility
To enter in the real estate business in the Australia firstly need the license and for that the
restrictions are imposed by the government. The eligibility for granting the license that an
individual has to be completed 18 years (Warr, and Inceoglu, 2018). Some restrictions that are
opposed for the entry are individual don’t have not opposed on crime like fraud, drug addict,
dishonesty and violence in the past 10 years, an individual don’t have insolvent under some of
the administration some include bankrupts, having the debt agreements.
Complete the classes of the real estate
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