Cluster 3, Question 5 - Roleplay - List the Property Roleplay

WHAT YOU NEED TO DO IN THE ROLEPLAY

The roleplay requires you to demonstrate your ability to list a property for sale. The purpose of the property listing presentation is to show the Striks why they should choose your agency.

During your presentation, you must try to convince the Striks of your marketing and negotiating expertise.

In the roleplay, you will play the role of a real estate agent.

Your roleplay partner will play the roles of the seller (Mr or Mrs Strik).

1. Read the Scenario below.

When you arrive at 23 Donovan Street, you realise the Striks are anxious about selling the family home, so you must try to calm their nerves and build rapport. You will also need to explain to them the sales process (from your initial meeting to the settlement of the sale).

Mr Strik is elderly and has difficulty hearing. Both Mr and Mrs Strik are originally from Eastern Europe and English is their second language. So, when you speak to them, you must use appropriate verbal and non-verbal communication techniques.

1. Before the roleplay, identify five (5) questions you should ask to establish the Striks' needs as the sellers.

1. D. COMPLETE THE FOLLOWING TASKS IN YOUR ROLEPLAY

1. (For this roleplay, pretend that your current place of residence is the property you are trying to list) Conduct a visual inspection of the following parts of the property - living room, kitchen, and main entry. During the inspection, make verbal comments on the relevant aspects of the property - for example, the chattels and fixtures, condition, location, state of maintenance, neighbouring properties and adjacent land uses and property size.

2. Ask the five (5) questions you identified to establish the Striks' needs and expectations as the sellers.

3. Ask the Striks two (2) questions about any material facts about the property which could impact on the sale. For example, has the property been renovated?

4. Recommend three (3) improvements that the Striks could make to the property. Also discuss the estimated cost of these improvements and how they could affect the sale price. Explain the marketing benefits of a properly presented property, and how the presentation and improvements could affect the eventual sale price.

5. Conduct a quick property appraisal and verbally provide the Striks with an estimated selling price range based on your knowledge of your farm area. Explain how you came up with the price range.

6. Discuss with the Striks the different methods of sale, and your recommended method of sale. Explain why you have chosen this method.

7. Briefly discuss with the Striks the marketing activities you propose to use to sell their property. (Use the Property Listing Kit you prepared in Question 3 to support what you are saying).

8. Explain to the Striks the importance of open homes and inspections for attracting buyers. Outline the risks associated with open homes and explain the security measures you will take to minimise any security risks.

9. Discuss with the Striks your agency's services, fees and charges and the conflicts of interest / disclosure requirements on agents when selling property. Explain how you will protect the Striks' privacy and keep their information confidential. Ask if they have any specific instructions for you. (Use the Property Listing Kit you prepared in Question 3 to support what you are saying)

10. Outline how you will be providing information to the Striks and how you will communicate with them. Advise them that you have made notes of their requirements and will be recording their instructions in your records. Confirm their preferred method of communication. Advise them you will be sending them a Seller's Communication Plan when you return to the office.

11. The Striks are happy with your presentation and feel that all their questions have been answered. They have asked you to explain certain parts of the Form 6 listing authority to them before they sign it: Explain the following parts of the Form 6 to them:

Part 3 - Details of property (show the Striks; how the property details on the Title Search are completed on the Form 6)

Part 4, Section 2 - Term of Appointment

Part 6 - what is the difference between an Open Listing and an Exclusive Agency?

Part 7 - Commission

Part 8 - Authorisation to incur fees, charges and expenses

12. Conclude the listing presentation by advising the Striks on what happens after the Form 6 is signed. Let the Striks know you will be sending them:

a copy of the signed Form 6;

the Seller's Communication Plan so they know when to expect to hear from you; and

a completed Record of Inspection.