Assignment On Legal And Ethical Requirements Of Property Sales

ASSESSMENT
Identify Legal and Ethical Requirements of
Property Sales to Complete Agency Work
(CPPDSM4008A)
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(student to complete)
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Course [Registration/Representative or License program]
Number of pages
including this
one
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Assessment result
(assessor to complete)
Result — first submission (Details for each activity are shown in the table
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Result — resubmission (if applicable)
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CPPDSM4008A_AS_v1.5 © April 2017 Kaplan Education Pty Limited

Units of competency
This assessment is your opportunity to demonstrate your competency in the following
unit:
CPPDSM4008A Identify Legal and Ethical Requirements of Property Sales to Complete Agency Work
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Part 1: Short-answer questions
Question 1
Briefly explain each of the following titles to land (i.e. land tenure ship):
(a) Free hold
<This is where the ownership of land lies squarely on the title owner who has the right
to put the portion of land to use as pleases him or her in compliance with the laws of
the land. Moreover, the owner has the right to pass ownership rights to persons of his
or her choice without interference from the state as often seen upon the death of the
land owners. The rights include; occupying the land, leasing it, selling it or any other
lawful purposes (Omwoma, 20161)>
(b) Lease hold
<This is a temporary title issued to a lessee to give him the authority to practice
ownership rights to land by a landlord. Though the rights have limitations, leasehold
lands are considered personal property and people normally put them into use
according to their wish.>
(c) Torrens Title
<This is a system for registering and exchanging land whereby the state regulated by
government agencies who track transactions through a register of holdings serving as
a testimony of the title of the person maintained on the registry as the owner and of
all the interest associated with the parcel.>
(d) Strata Title
<This is where land is specially divided into distinct sections for facilitate personal
1. Matede, Ronald Omwoma. "A Land-tenure Based Model for Guiding and Controlling
Development on Freehold Land in Urban Areas: Exploring Possibilities for Management of
Spatial Quality in Kenya." (2016). Academia.edu
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proprietorship in conjunction with the common parcel. In this arrangement, the
process of registration permits all title transactions to be documented in one file to
eliminate any form of confusion or fraud as well as reducing the cost of information
management (Hall, Ruth, and Thembela Kepe, 20172). >
Question 2
Describe three (3) methods that you personally might use to prospect for new listings
as a salesperson.
<1. Advertising, networking and promotion;
As a salesperson, the first initiative will be to use non-personal form of representation to
promote the real estate inform the public about the deals. This can be done through
online advertising on websites and via the mainstream media platforms. Besides, as the
firm achieves financial stability goals, advertisement can take the route of newsletters,
magazines as well as e-newsletters. Secondly, a sales person can visit local retail outlets
and inform prospecting clients about the existence of opportunities in the area. This
helps in adding value to property, which intern increases its demand in the market. As
practised by other businesses, the salesperson may undertake the initiative to drop
leaflets on the doorsteps of potential clients thereby increasing awareness in the
market. Another potential opportunity is pro-active networking focussed on informing
and prevailing upon potential clients to try dealing with your organization. By creating a
strong network of known people such as family members, friends, past classmates and
unknown persons such as those met on Facebook, WhatsApp and Twitter, a salesperson
may have a platform for improving his or her brand image.
2. Referrals;
As Giglio, Stefano, Matteo Maggiori and Johannes Stroebel (20163) put it, the most effective
advertising agent is a satisfied customer. For that matter, providing quality services to
customer will be the top priority in my department. I will ensure that those who will
make purchase interests for the organization are served with high level of
2 Ruth, Hall, and Thembela Kepe. "Elite capture and state neglect: new evidence on South Africa’s
land reform." Review of African Political Economy 44, no. 151 (2017): 122-130. Taylor &
Francis.
3 Stefano, Giglio, Matteo Maggiori, and Johannes Stroebel. "No‐bubble condition: Model‐free
tests in housing markets." Econometrica 84, no. 3 (2016): 1047-1091. Wiley Online Library.
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professionalism and courtesy so that they do not just become repeat clients but take
part in promoting your firm to new prospects. To make this method more effective, the
sales person should keep a database of clients who visit the organization and maintain
consistent contact with them besides asking them to leave for you positive reviews
about the services.
3. Community sponsorship;
Actively participating in community programs enable salespersons to identify the gaps
that exist in the market from primary sources. This will enable the salesperson to tailor
his or her products features in accordance with the market demand. Local communities
often prefer trading with individuals who are seen to be concerned with their social and
economic affairs (Limbu, Yam, Jayachandran, and Barry, Babin, 20144). Being personally
involved in activities in the local community enables salespersons to identify existing
gaps, approach it and interact with the locals at personal level hence waring a human
face that is appealing to them, turning them into potential client for the real estate.>
4 B, Yam Limbu, C. Jayachandran, and Barry J. Babin. "Does information and communication
technology improve job satisfaction? The moderating role of sales technology orientation."
Industrial Marketing Management 43, no. 7 (2014): 1236-1245. Elsevier.
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Question 3
(a)
Method of
sale
Your description of this type of sale
method
Your example of type of
property/client circumstances suited
to sale by this sale method
Private
Treaty
<This is where a property is listed
for sale through an advertised price
range to the public and allowing the
interested parties to place counter
offers accessed by the vendor,
salesperson and the client.>
<Suitable for occasions marked by
slow economic growth. It is often
used by private sales vendors >
Auction <In this method, buyers are hosted
in a public forum at a pre-
determined date, time and place to
compete one another in terms of
quoting prices and the highest
bidder takes the property.>
<An example of property that fits
well under this method of sale is an
architect-designed home>
Tender <This is a method of sale where all
potential buyers submit their
proposals in sealed envelope at a
specified time. These tender
documents are opened at the same
time in the presence of the agents,
vendor and solicitor.>
<Ideal for industrial property
sales>
(b) Complete the table below by listing one (1) advantage and one (1)
disadvantage for each method of sale (from the agents or vendors viewpoint):
Method of
sale
One advantage of this method of sale One disadvantage of this method of
sale
Private
Treaty
<vendors may have ample time to
evaluate the offers made to them>
<There is uncertainty as to the
time when the property will be in
the market>
Auction <The vendor has the benefit of
ascertaining the sale because the
<The cost of advertising is
relatively high>
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