Assessment Task 2: Working in real estate

CPP40307 CERTIFICATE IV IN PROPERTY SERVICES (REAL ESTATE) - This answer/report should be based on Victoria State in Melbourne/Australia

What you need to submit: Your report.

Instructions: You will need to research information and/or visit a local agency to assist with your responses for this task.

You should use a variety of sources to gather information including training resources, workplace policies and procedures (if you are able to access these) and government and industry bodies.

You are required to provide information about the following points. You must have written response to each point, which can be supported by example documentation as required. Ensure material is referenced appropriately.

Your industry report must cover the following topics:

a) Real estate agency structure and personnel

Q1) Identify the various business ownership options and services offered by real estate agencies.

Q2) Provide an outline of a typical organisational structure for a real estate agency.

Q3) Provide an overview of agency staff roles and responsibilities including administration, agents and agent's representatives and management.

Q4) You must address legislative liabilities and responsibilities (refer to appropriate sections of the relevant Act for your state or territory).

b) Key agencies and industry bodies. Provide a detailed overview of the following agencies (refer to your own state or territory where required), including any legislative powers they have.

Q1) Consumer affairs/fair trading Civil and administrative tribunal

Q2) Estate agents council/property board

Q3) Residential tenancies bond authority/board

Q4) Real Estate Institute of Australia (REIA)

c) Legislative requirements

Q1 Identify the legislation in your state or territory relating to regulation of the real estate industry, including property sales and management.

Q2 Identify and document how agencies maintain up-to-date records of legislation and industry codes.

Q3 How are amendments to legislation and industry codes tracked and communicated to staff?

d) Ethical and professional conduct standards

Q1 Identify and name the legislation in your state or territory relating to ethics and professional conduct of estate agents and agent's representatives.

Q2 Discuss the objective of the regulations.

Q3 What are the obligations contained in this legislation.

e) Client service standards

Q1 Identify and outline strategies for the implementation, monitoring and review of client service standards.

f) Risk management

Q1Identify and outline strategies for identifying and assessing risks.

Q2 Provide examples of policies and procedures for minimising and treating risks. How are these procedures monitored and reported on?