Project 01: Commercial Property for Sale Appraisal and Report

Your office has been approached by an existing client who is thinking of selling her commercial property and your principal has passed the lead on to you to p repare an appraisal.

(a) Why is it important to confirm with the vendor the information required for the appraisal, the process how the appraisal will be conducted and the purpose of the appraisal?

(b) Why is it important to confirm the client's instructions in relation to the appraisal?

(c) Discuss the legislation and regulations governing the appraisal of commercial properties in South Australia

(d) 4201PRO104: You are now required to conduct an appraisal for a commercial property for sale:

Commercial Appraisal: (i) Select a subject commercial property you are going to appraise for sale. (Download and attach the property brochure from an online property portal) (ii) Select two (2) commercial properties currently on the market for sale (Download and attach the property brochures) (iii) Select two (2) commercial properties recently sold (Download and attach the property brochures) (iv) P repare an appraisal report for the subject property. You must include the following headings in your report: 1. Address of Property 2. Floor area in sqm 3. Current market conditions (briefly comment) 4. Summary of the Properties on the market for sale (e.g. address and floor area) 5. Summary of Properties sold (e.g. address and floor area) 6. Appraisal price $ 7. Appraisal method used 8. Reference your research (see below) Please note: you will need to conduct external research (e.g. www.realcommercial.com.au, www.commercialsa.com.au www.corelogic.com.au or www.pricefinder.com.au etc)

(e) Analyse the research you conducted in finalising the appraisal and discuss the outcome as you would explain it to the client. Remember to comply with your agency's requirements (this is at your discretion) and client instructions.

(f) What financial records did you analyse when appraising the commercial property for sale?

(g) As an agent, describe the regulatory and ethical responsibilities you have in appraising the commercial property for sale under the following headings:

(I) Duty of disclosure

(ii) Maintaining client privacy and confidentiality

(iii) Providing accurate information

(h) Your client has requested that the report on the property's appraisal be emailed to her.

In the space below, p repare an email addressed to your client summarising the main points of your report.

Project 02: Commercial Property for Lease Appraisal and Report

Your office has been approached by an existing client who wants to lease her commercial property and your principal has passed the lead on to you to p repare an appraisal.

(a) Why is it important to confirm the agency requirements and appraisal processes as well as the purpose of the appraisal with the client?

(b) Why is it important to confirm the client's instructions in relation to the appraisal?

(c) Discuss the legislation and regulations governing the appraisal of commercial properties in South Australia

(d) You are now required to conduct an appraisal for a commercial property for lease: (i) Select a subject commercial property you are going to appraise for leasing. (Download and attach the property brochure from an online property portal)

(ii) Select: two (2) commercial properties currently on the market for lease (Download and attach the property brochures)

(iii) Select two (2) commercial properties recently leased. Download and attach the property brochures. Please note; if you have difficulties finding data on leased property you can attached two properties currently on the market.

(iv) P repare a mock appraisal report for the subject property. You must include the following headings in your report:

1. Address of Property 2. Floor area in sqm 3. Current market conditions (briefly comment) 4. Summary of the Properties on the market for lease (e.g. address and floor area) 5. Summary of the Properties on the market for leased (e.g. address and floor area) 6. Appraisal rental price $ 7. Appraisal method used 8. Reference your research (see below)

Please note; you will need to conduct external research (e.g. www.realcommercial.com.au, www.commercialsa.com.au , www.rpdata.com.au or www.pricefinder.com.au etc)

(e) Analyse the research you conducted in finalising the appraisal and discuss the outcome as you would explain it to the client. Remember to comply with your agency's requirements (this is at your discretion) and client instructions.

(f) What financial records and resources did you analyse when appraising the commercial property for lease?

(g) As an agent, describe the regulatory and ethical responsibilities you have in appraising the commercial property for lease under the following headings:

(I) Duty of disclosure

(ii) Maintaining client privacy and confidentiality

(iii) Providing accurate information

(h) Your client has requested that the report on the property's appraisal be emailed to her.

In the space below, p repare an email addressed to your client summarising the main points of your report.