Property Sales Report: Task 3 - House Purchase in Carlton, VIC

This report analyzes the process of a property sale, focusing on the role of a buyer's agent in assisting a client, Jason Withers, in purchasing a house in Carlton, Victoria, Australia. It details the methods used to respond to inquiries, build rapport, and understand the client's needs, including telephonic conversations, mails, and personal meetings. The report outlines the services provided by the agency, such as low commission rates and loan facilities, and explains the legal aspects, including brokerage agreements and the roles of legal practitioners and conveyancers. It covers information gathering, communication techniques, negotiation strategies, and the settlement process, including payment monitoring. The report also includes a sample letter to the client and discusses methods for promoting the agency's services and the timeline for completing the task.

A34 - Property Sales
Task 3

Assessment Task 3
Jason Withers, wants to buy house in Carlton, Victoria, Australia
1.
Following are the methods that I would use to respond Jason's enquiry: Telephonic conversation: Can respond to client mouth to mouth using telephone or
mobiles conversation. Mails: Considering formal method of sharing information with client, I can give more
details with images regarding property. Personal meeting: Can also meet the client personally face to face for getting his
response regarding buying house.
 Websites: Through website, client can choose from his choice of options of location,
budget, specification, etc.
2.
Below listed are techniques for building rapport with Jason: Focus on appearance and body language: Building first impression and adjust body
language according to the client will establish rapport. Active listening: Encourage others to speak and carefully listen to them. Matching: Match with clients' rate of breathing, pace and pitch, volume as well as tone to
create hypnotic sync. Repeat and approve: Repeating and approving what client have said would ensure the
client that we have understood what he wants. Be genuine: Always try to be yourself, don't try to fake anything.
3.
To make sure that I have understood the needs of Jason I would contact with him using
mail, telephone or by meeting him directly face to face, Also I would ensure him that perfect
house would we find and will be shown to him that have the same specifications that he
mentioned. After little research or findings, will show him some choices of options for house
along with some actual photos, that comes under his specifications and along his budget and area
specified.
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4.
List of services provided by the agency to the buyers are:
◦ Assists in buying home at low commission.
◦ Opens 7 days a week to serve the best client needs.
◦ Loan facilities are been provided to the buyers in case they have low budget.
◦ Have a great experience in making plans for the clients for buying property.
◦ Helps in easy and convenient registration of the property.
◦ Provides services for management of property.
Fee structure of the agency:
 Charge commission of 3% - 5% rate.
 Negotiation and real estate fees.
 State and city tax.
 Additional fees and costs
 Marketing and advertising cost.
5.
For confirming the engagement of the agency with Jason an contract of brokerage
agreement is been made between the agency and Jason. This would act as a legal documentation
which would bind clients to pay commission to agency. By providing client with the best
customer care services, it would help to engage with him for providing him with best services
and deals. There must be a written agreement between the agency and Client before the work for
his is begun. Clear and written estimate of commission and fees that are included. Provide
different options for buying a property, etc. would engage client with agency.
6.
Methods used for gathering information regarding properties are: Own database: Agency have their own database of potential sellers who wants to sell
their property. It's the most reliable source as sellers are trusted persons of the agent.
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 Professional colleagues: Agents from other agency have also deals with others to sell
their clients property. It can be reliable as it's based on the trust on their colleagues. Property owners: Property owners comes to agency for selling their property. If
specification matches with the buyer's he can suggest it to client. Media: Advertisements in various media are considered for collecting informations for
suitable properties for clients.
7.
Communication techniques used to consult with relevant people for gathering additional
data are: Property owner: To gather information from property owner is to use oral
communication as to know much detail about the property and observe the property with
their own eyes. Buyer: Additional Information can be gathered from buyers through meeting face to face
or by mails or phone. Professional colleagues: Through mails or telephonic conversation additional
information can be gathered. Estate developers: Additional information can be gathered from estate developers
through mails and by phones.
8.
From the information gathered each and every data is been matched by visiting the actual
sites and determine whether the property consists all elements that seller has provided in his
information. If the information by the source is relevant and true then it is matched with
expectations and specification required by client. If it matches with specifications then price
negotiation is made with the seller and then, property is been showed to client, and if he likes the
property then the further procedures for buying is been done.
9.
As a buyer's agent would need experts advice on property regarding any legal issues or
guidance or to have correct valuation of property. Specialist advice is needed for ensuring
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transfer of title of properties is been done properly, to advice terms and conditions required to be
included in contract. For these advices from legal practitioners and conveyancers are taken.
Conveyancers helps the agency for finding and reviewing properties titles. Either we would hire
them or would pay certain fee for their suggestions or guidelines.
10.
Century 21
302, Bay street, Brighton
VIC, Australia
4 August 2018
Mr. Jason Withers
123, Melbourne
Australia.
Dear Mr. Jason
Greetings, I have found a few suitable houses at Carlton, VIC that have the same specifications
that you have suggested. Most of which are situated near the highways and have most facilities
such as schools, grocery stores, banks, transportation facilities available.
Whenever you are free you just inform us, so we could visit and inspect properties and
you can select the best suitable house under your budget.
Thanking You
Mark Henry
11.
Action for Jason's instructions: As Jason wants to negotiate for price, I would have a
negotiation with the seller about the price and make him lower his price. The price offered by
seller was $404,000 and I would force him to sell it for $400,000.
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Purchase process: Work out budget Put in an offer Starting legal procedures Exchanging contracts
 Completion and sorting out move
Effective techniques for dealing with conflict required for close sale:
 Change the setting
 Change negotiators
 Provide additional informations
Mutually agreed price and conditions of sale:
It is been agreed that the deal would be done in $401,000. Seller will do maintenance
work for 6 months. Seller wants do have 50% of price amount within 2 months and before 6
months whole amount.
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For monitoring the settlement process that it is been done under the contract and
legislation I would appoint legal practitioner and conveyancer who would inspect and looks that
each and every step and ensures that it is done legally.
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As an agent for buyer it is my duty to look towards that the payments made by the buyer
is also a part of settlement under the contract and legislative requirements. Payments done are
been included to protect buyer from been cheated for paying the extra amount.
14.
For having an ongoing contact with the buyers an effective communication method is
been used in which mixture of oral, written and body language is been used for having the
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confidence of buyer. As communication is very important in the sales process because it enables
them to clearly convey demand and expectations about property.
15.
For promoting the agency services, Century 21 can promote their services through
various practices that they have implemented for generating opportunities in the agency. Agency
has many practices like ethical values, low commission rates, providing loans to helping the
buyers, etc., can promote the agency among customers. They would be attracted toward the
agency as they are been impressed by the services provided by them and the various ethical
practices adopted by Century 21.
16.
Scheduled time for completing the task:
S.r. Tasks Time
1 Surveying for buyers specified house 1 week
2 Listing houses which matches the specification 2-3 days
3 Buyer inspecting and selecting from the listed 1-2 weeks
4 Negotiating 2-3 days
5 Contract planned 4-5 days
6 Exchanging contracts 1-2 days
7 Completion and sorting out 3-4 days
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