CPPDSM4011A: Report on Listing Property for Lease and Management

This report addresses key aspects of listing property for lease, including agency agreements, marketing strategies, and the importance of client rapport. It delves into the Consumer Protection Act and circumstances for agent fees, emphasizing the need for effective promotional strategies and the evaluation of marketing plan success. The report also explores the significance of listing presentation kits, establishing client rapport, and relevant clauses from the Code of Conduct. The assignment also contains information about a specific property, its features, rental details, and the real estate agency's approach to customer service, emphasizing transparency, fairness, and professional management practices. It also describes the marketing strategies, client interaction, and adherence to real estate agency laws and codes of conduct.

CPPDSM4011A List Property for
Lease

TABLE OF CONTENTS
Assessment Task 2.....................................................................................................................3
Managing Agency Agreement and it means in terms of consumer protection......................3
Circumstances in which an agent can charge a fee/charge/expense for services...................3
Importance for an agency to have effective promotional strategies in place.........................4
Importance of evaluation of success of the marketing plan for properties............................4
Asking prospects how they came to contact you, or to attend an ‘open for inspection’ is a
useful way to determine the effectiveness of marketing techniques......................................5
Listing presentation kits.........................................................................................................5
Importance for an agent to establish client rapport................................................................6
3 clauses from the Code of Conduct and their link with property management....................6
Assessment Task 3.....................................................................................................................6
References..................................................................................................................................7

ASSESSMENT TASK 2
Managing Agency Agreement and it means in terms of consumer protection
The agency agreement is a written form of agreement, which is prepared for
performing all the services by an agent directed for its client unless those services are
associated with livestock. It is essential that the agreement is cautiously prepared, signed and
acted properly, or there might be a situation where the agent may lose its entitlement to gain
commission or recover its expenses (Baker, 2014). Further, the agreement proclaims the
services agent shall provide to the client. Signing up of an agency agreement implies that an
agent is authorized to act upon for the principal in lieu to the sale of its property like
arranging advertisements, inspection, receiving deposits etc. from buyers. In return, the client
agrees to pay for agent’s services in terms of fees or commission and determine when and
how it shall make payments for such services.
The client appoints an agent to find them with potential customers for its property and then
introduce them to the client. The agent is entitled to negotiate the terms of sale with
customers on behalf of the client (Czinkota and Ronkainen, 2013). But nevertheless, it can
never conclude the sale, between client, i.e., principal and customer.
The Consumer Protection Act (CPA) applies to the transaction wherein agents are involved
with a supplier directly, as mentioned in CPA, the seller is also the principal agent as well as
the supplier. The supplier is protected from the agent by the clause within the agreement that
conforms to law, which is understandable and cannot be unfair, unjust or unreasonable in any
manner (Ling and Archer, 2012).
Circumstances in which an agent can charge a fee/charge/expense for services
The fees, commission, charge or expenses are the amount that is charged by agents,
not specifically stated under any law. The client is free to negotiate with the agent regarding
the amount of commission or fees or other expenses that it is liable to pay for its services.
The circumstances in which agent is entitled to payment is for the services provided in
context to property, for instance, in case of commission it's mostly payable only when the
property is sold (Fisher, Ury and Patton, 2011). The charge or fees could also be for the
marketing of principal’s products changed prior to sale. The principal has all rights to
negotiate with the agent regarding terms and conditions of payment.

Importance for an agency to have effective promotional strategies in place
Since the digital age continues to draw a considerable impact on business, it is one of
the most important aspects that need to be considered by agents for ensuring a sale. There is
an esteemed level of competition that rules the market and marketing is the key to attract
sales (Giannetti, Burkart and Ellingsen, 2011). Sales require a strategy, procedure, and a way
by which it can progress to measure and monitor. By developing and launching a coherent
and well-articulated marketing strategy, the agent can promote the business.
Effective marketing helps one define their vision, mission and business goals, further
outlining the necessary action that needs to be undertaken for attaining such goals. It is
important that these strategies are drafted keeping in mind consumer’s expectations and
detailed analysis of their product and present their promotional strategies from the
perspective of client’s customer's view (Gummesson, 2011). The central focus of firms
marketing strategy must be founded on the notions of developing and increasing awareness of
the principal’s product and attempt to enhance its publicity through promotional marketing
strategies. Also, the research is an essential part for framing a potential marketing strategy as
this segment helps in gathering information about the market like social trends, size, growth
and demographics etc. Effective market research can help agencies to develop a profile of
customer its client seeks to target and consecutively recognize its needs.
Importance of evaluation of success of the marketing plan for properties
A marketing plan serves as a blueprint for one’s strategy. A good marketing plan
comprises of strategies that are important for attracting potential customer and retaining the
current customers. A Marketing plan is an essential and fundamental part of determining the
success and revenues that can be gained from a property. If an agent wants to market
principal’s property in a successful and rewarding manner, it will have to create a marketing
plan. As, a marketing plan helps in determining the overall direction that the agent needs to
take for marketing the property (Campbell, Giglio and Pathak, 2011). Since it is as valuable
as a resource, it helps in signifying an outlay of time and money. In a marketing plan, every
detail is specified on what is wanted and what may be subject to change or evaluation due to
the fluctuations in the market. So, by evaluating the marketing plan, one can make the
requisite changes to the current marketing in tune with the constantly changing business
environment. Further, evaluating a marketing plan by the agent can help in saving money as
it is cheaper to evaluate a marketing plan on an ongoing basis and to make necessary changes
that to ignore the plan and make some costly mistakes that could have been avoided. Thus, it

can be seen that main purpose of the marketing plan is to function as a saving and controlling
tool.
Asking prospects how they came to contact you, or to attend an ‘open for inspection’ is a
useful way to determine the effectiveness of marketing techniques
Once the market for house or property has begun via advertisement or another form of
marketing the next steps is to think upon inspection. Both in private or open for inspection
are available options that permit buyers to come and seek over the property, but open for
inspection is subject to conditions as per different situations (Chaney, Sraer and Thesmar,
2012). The open house is a fruitful way of convincing the buyer and also a conducive way to
improve the chances of success for an agent. Since in an open inspection the agent opens up
the property to any stranger it is important for the agent to make the home memorable for the
buyer to remember and showcase its property’s versatility.
Listing presentation kits
A listing presentation is a marketing tool that informs the prospects of the unique
qualifications and expertise knowledge held by the agent. It is drafted to convince the
potential homeowners about strategy it places to sell property find their dream home. It
reveals four key aspects:
1. The agents marketing strategy is demonstrating how its strategy works.
2. Possessing knowledge of housing market and educating the clients regarding the local
market condition (Halinen, 2012).
3. Serving with professional experience of properties and guide clients at each legal step.
4. Possessing character traits of transparency, integrity and trustworthiness.
Since a real-estate listing presentation entails a reasonable amount of information; it can
present the same in easy-to read stats and figures. The Picktochart form of listing presentation
can be used to sell history and local market facts in a beautiful form of charts and graphs.
The purpose of choosing this form of presentation is:
 Simple interface to present the right editing tools for use.
 Using different icons and images to make the chart or graph, i.e., a presentation more
attractive (Terpstra, Foley and Sarathy, 2012).
 Interactive maps those features about the detail within your area.
 Integrating slide share or ever note to publish the graphics online.

Importance for an agent to establish client rapport
Rapport is a relationship that is marketed through mutual understanding and trust. The
success of B2B depends highly on establishing a strong client rapport. Being property
business relationship as client-focused, it is important to possess the requisite skill and
knowledge to develop a successful client rapport. The establishing of rapport with clients
covers the following aspect of work in the property industry. It is important for:
1. Building trust and establishing credibility of agency and on return client base
2. Promoting agency image while adhering and maintaining the professional code of
ethics and morale (Abbe and Brandon, 2013).
3. Employing effective communication strategies to establish a rapport with client
successfully.
Communicating is a critical aspect, as it requires the client to have the adequate technique
and commitment to communicate with the client help in forming a strong rapport.
3 clauses from the Code of Conduct and their link with property management
The primacy of public interest
In accordance with this code of conduct, the interest of public must be prioritized in
comparison to personal and sectional interests even in resolving conflicts. By considering this
approach, in real estate industry, agents are required to safeguard the interest of clients
through regarding their duty of loyalty they owe to the public. For this aspect, they do not
misguide either clients or their associates for their personal benefit.
Honesty
This clause of the code of conduct states that professional must not breach the public interest
or trust of stakeholders (ACS Code of Professional Conduct Professional Standards Board
Australian Computer Society, 2014). In this aspect, real estate agents are required to provide
genuine approximations regarding projects under their control, make a clear difference
among personal and professional opinions and advice and most important they must not
mislead any client with false hopes.
Competence
This code of conduct states that real estate agent must only accept that work for which they
believe they are competent enough to perform. Further, they are obliged to obtain additional

expertise if the advice of qualified individuals is required for the particular project. They
must not misrepresent their knowledge and skills and respect the proprietary interest of
stakeholders. They must accept accountability for their loss in case of negligence or other
loss.
ASSESSMENT TASK 3
Information about the property
 Address – 1805/33 Flemington Road North Melbourne
 Description – Cited property is top level apartment having amazing facilities at the
prime city location. This property contains two bright bedrooms accommodated with
robes and balconies. The townhouse has security intercom, air-conditioning, central
bathroom with shower, toilet & vanity, remote garage, and European laundry systems.
 Rental - $2520 per month
Our real estate agency is beneficial for customers as it operates in accordance with real
estate agency laws and codes of conduct. Further, the agency is having a qualified team
member who is well versed with the market conditions to assist customers in getting good
deals. Our agency believes in transparency and fairness thus entire dealing is done with the
consent of customers by providing a sample of rental lists and promotions brochures. In
addition to this, to assist customers in the selection of appropriate package examples of our
previous clients will be provided to them so they can understand terms of each package in an
appropriate manner.
All the dealing used for the purpose of leasing and renting property is supported by
professional management approach. In this aspect, our agency will be in contact with you
constantly regarding offers, advertisement of your property, proposed tenants and other
relevant aspects (ACS Code of Professional Conduct Professional Standards Board
Australian Computer Society, 2014). Further, all transactions are conducted in a written form
supported by clear terms and authorized by the signature of both the parties. For the
promotion of property, extensive market strategies are utilized by providing accurate
information to tenants in most presentable manner.
Accounting for transactions are properly recorded, and receipt for each transaction
will be provided to the client to verify the same. The client can pay for the services by cash or
cheque or by using online banking. In addition to this, the secured tenant will be selected by

considering entire information of a tenant to ensure bond amount and regular rent by them
(Ling and Archer, 2012). Along with it, the proper inspection will be done to ensure that
tenant is taking good care of the property and not making unethical use of it. The entire
property will be insured to provide blanket cover for the loss of property.
Management and letting costs for agencies services will be 5% of rental charges
which is comparatively low than competitive firms.

REFERENCE
Abbe, A. and Brandon, S.E., 2013. The role of rapport in investigative interviewing: A
review. Journal of investigative psychology and offender profiling, 10(3), pp.237-249.
ACS Code of Professional Conduct Professional Standards Board Australian Computer
Society. 2014. [PDF]. Available through < https://www.acs.org.au/content/dam/acs/rules-and-
regulations/Code-of-Professional-Conduct_v2.1.pdf >. [Accessed on 1st September 2017].
Baker, M.J., 2014. Marketing strategy and management. Palgrave Macmillan.
Campbell, J.Y., Giglio, S. and Pathak, P., 2011. Forced sales and house prices. The American
Economic Review, 101(5), pp.2108-2131.
Chaney, T., Sraer, D. and Thesmar, D., 2012. The collateral channel: How real estate shocks
affect corporate investment. The American Economic Review, 102(6), pp.2381-2409.
Czinkota, M.R. and Ronkainen, I.A., 2013. International marketing. Cengage Learning.
Fisher, R., Ury, W.L. and Patton, B., 2011. Getting to yes: Negotiating agreement without
giving in. Penguin.
Giannetti, M., Burkart, M. and Ellingsen, T., 2011. What you sell is what you lend?
Explaining trade credit contracts. The Review of Financial Studies, 24(4), pp.1261-1298.
Gummesson, E., 2011. Total relationship marketing. Routledge.
Halinen, A., 2012. Relationship marketing in professional services: a study of agency-client
dynamics in the advertising sector. Routledge.
Ling, D. and Archer, W., 2012. Real estate principles: A value approach. McGraw-Hill
Higher Education.
Terpstra, V., Foley, J. and Sarathy, R., 2012. International marketing. Naper Press.