AALL THE QUESTION AND ANSWERS WILL BE IN REAL ESTATE IN WESTERN AUSTRALIA

Institution: West Coast Property Training western Austral

CPPREP4003 Access and interpret legislation in real estate western Australia

REAL ESTATE IN WESTERN AUSTRALIA.

You are currently working at Phantom Realty western Australia managing a small portfolio of rental properties and selling residential property. Almost all facets of your job involves working within the requirements of current legislation and ethical conduct standards to ensure the agency remains compliant and consumers are protected.

1. Interpreting legislation

REBA Act Section 64 "An agent shall not have, directly or indirectly, any interest, otherwise than in his capacity as an agent, in any transaction in which he acts or purports to act as agent, unless his principal has given prior written consent thereto."

What do you understand by this clause?
What problems could you have in understanding this clause?
What are the consequences of not understanding this clause?
List two sources of assistance and /or specialist advice which could help you interpreting this clause. This could include guidance materials

Australian Competition Law, Section 18 "A person must not, in trade or commerce engage in conduct that is misleading or deceptive or is likely to mislead or deceive

a. What do you understand by this clause?
b. What problems could you have in understanding this clause?
c. What are the consequences of not understanding this clause?
d. List two sources of assistance and /or specialist advice which could help you interpreting this clause. This could include guidance materials .

Situations requiring an ethical response from real estate practitioners

2. Complete the table below

Situation	Ethical Conduct Standard List the applicable legislation and/or industry code	How should you act in such a situation?
1. A real estate agent advertised a price-range that included a low-end price she knew was not acceptable to the seller
2. A real estate agent discloses to an interested buyer that the seller's are divorcing even though the real estate agent was clearly instructed by the seller not to share this confidential information.
3. A real estate agent left a client's file with all the client's personal identification documents in their car. The car was broken into and the client's personal identification details were stolen.
4. A real estate agent did not disclose to a buyer the knowledge that a prior inspection had identified moisture and dampness in the walls of a property.
5. A real estate agent refers their in -house settlement agent to a buyer without completing a written disclosure.

You have a discussion with Lucille Devereaux, the licensee of Phantom Realty about ethical practice at the agency

3. Respond to these interview questions illustrating to Lucille your solid understanding of the principles of ethical practice. Remember to use direct speech

A. LUCILLE : Tell me about two ethical practices you feel are important when working in real estate.
YOU: Insert your response to Lucille's question here using direct speech
Answer:

B. LUCILLE : Give me an example of what could be considered unconscionable conduct when working with clients.

YOU : Insert your response to Lucille's question here using direct speech

Answer:

C. LUCILLE : "What is DMIRS role in regulating legislation?"

YOU : Insert your response to Lucille's question here using direct speech

Answer:

Real estate practitioners must be aware that their actions do not conflict with legislation, either deliberately or in error. Phantom Realty western Australia have policies and procedures to assist in managing legal and ethical risks to the agency, it's clients and its practitioners.

4. Consider the legal discrepancies in Below and outline each situation.

a. Advertising headlines " Guaranteed returns", "Buy now, profit later" and "Safe and secure investment"

a. Identify the applicable legislation.

b. List the discrepancy/inconsistency with the legislation.

c. How could you find out more information? Which sources of advice would you consult with?

d. What should have been done?

e. List a Phantom Policy / Procedure

B. You are speaking with a client say tell them that you are the number one agent in the Fantasy Glen area and guarantee results within thirty days. (Note: none of these claims can be substantiated )

a. Identify the applicable legislation.

b. List the discrepancy/inconsistency with the legislation.

c. How could you find out more information? Which sources of advice would you consult with?

d. What should have been done?

e. List a Phantom Policy /Procedure.

There are times when industry practitioners are not clear on how to best navigate tricky situations in line with current legislation and ethical conduct standards western ern Australia

Lucille has been most impressed with your understanding of legal and ethical practice. She asks you to create some reports for distribution to the team at Phantom Realty.

5. Read DMIRS bulletin #172 which describes an instance where consumer protection requirements were breached. www.commerce.wa.gov.au/publications/30-month-banreal-estate-sales-rep-over-unfair-and-dishonest-conduct-real-estate

an internal report for distribution to the team.

REPORT Ethical Practice in REAL Estate

Outline the unethical practice
How did this unethical practice relate to consumer protection requirements?
Provide one risk these actions posed to each of the following: 1. Clients / Community 2. Agency 3. Industry 4. Representative.
Describe how abiding by ethical standards and the Code of conduct or codes of practice would have reduced the risk of this breach.
What could have been done to respond to tis situation where an ethical breach occurred?
Provide an impact on the consumer and one impact on the agency.

6. Access the Real Estate and Business Agents Act and the Australian Consumer Law and cret internal report to brief the team at Phantom Realty on these two Acts

A. Report - REBA ACT

Full title
Purpose
Key Components. (provide at least two)
Example of breaches specified in the legislation. (provide at least two)
Penalties for each breach.
Evidence that you researched the current version of the act. Hint insert a screen shot of where you accessed this legislation

B. Report - Australian Consumer Law

Full title
Purpose
Key Components.
Examples - breaches specified in the legislation. (provide at least two)
Penalties for each breach.
Evidence that you researched the current version of the act. Hint insert a screen shot of where you accessed this legislation

Your excellent communication skills assist you in explaining legal concepts and ethical requirements to your clients.

7. Outline a response for responding to these client complaints below:

Scenario

Scenario	describe the communication strategy you would use in this situation.	How would you respond to this client? Please use direct speech in your answer as if you were talking to the client.
1. The seller is upset you refuse their request to not disclose about a butcher which occurred in the property three years ago before they brought it.
2. A tenant is furious as they have requested for a window lock be replaced but after two weeks it has not been repaired.
3. A seller is angry because you will not share details of all prospective buyers listed on the agency's general database.
4. A buyer is angry that you refused to write up an offer one hundred thousand dollars below the asking price. The seller has instructed you that they will not consider offers that low.
5. An owner is unhappy that a property manager did not follow his instructions not to accept applications from foreign single parents

An action plan to show how you will maintain your knowledge of current legislation.

8. My action plan ACTION PLAN

What	What	Why?
1. Accessing legislation
2. Understanding legal principles
3. Addressing discrepancies
4. Maintaining knowledge base
5. Tracking changes and amendments