real estate for western australia

please if you cant answer all the question let me know am looking for someone who can answer all the question as i have spend so much money here.

ASSESSMENT- APPRAISE LIST CLUSTER (SALES)

NOTE TO STUDENTS

This assessment focuses on a case scenario, appraising and then listing a fictitious property. It will commence from prospecting for listings and interacting with prospective sellers. Then you will research information on the properties and the market and creat a comparative market analysis. Lastly you will present an appraisal to the sellers and conduct a listing presentation.

Note:As you progress through this assessment you will need to refer to two properties which you have access to (either the property you are living in and that of a friend of a family member). You will assume that these are the properties referred to in the case scenario.

Please note that Fantasy Glen is a fictitious suburb crea for assessment purposes. You cannot search for this suburb. You are able to make assumptions about the area and its amenities, together with any information which has not been provided and is applicable to the appraisals you complete.

Property A:The property you will appraise and then list for sale must be a house (you will assume it is 7 Phillip Island Drive in Fantasy Glen)

Property B:The property you will appraise for rent must be strata title property (you will assume it is 2/9 Storybrook Place in Fantasy Glen)

Scenario

You are working as a sales representative for Phantom Realty in the Fantasy Glen area. In addition, you are also managing a small rental portfolio.

Part of your job is to prospect for listings actively promoting yourself and Phantom Realty in the Fantasy Glen area.

1. make a prospecting plan to seek sales listings.

Prospecting Plan
	Prospecting Method/Strategy	Target Market and Agency Brand	Planning	Timeframe
		Identify the target market for each prospecting method. Then outline why you would use this approach to reach this group while promoting Phantom Realty in Fantasy Glen.	List three actions you need to take to implement each strategy. ie, Door knocking - Researching number of homes to door knock, making brochures/flyers, carrying out the door knocking.	Plan how often would you carry out each of these strategies.
1.
2.
3.
4.
5.

2. How would you record the prospecting outcomes?

a. What information would you record in your agency database?(List at least three items)

Scenario

Your efforts have paid off. You have made a successful contact with Robert Cagiva who owns a number of properties in Fantasy Glen. He is looking to retire in the coming months and to travel with his wife Shirley.

Robert owns a number of properties and asks you to prepar appraisals on two of them:

Property A:which Robert wants to sell before heading off on his travels.

This is a residential property - a house at 7 Phillip Island Drive in Fantasy Glen.

Property B:which Robert wants to lease out after he has finished some simple renovations.

This is a strata title property - unit 2/9 Storybrook Place in Fantasy Glen.

NOTE TO STUDENTS

Please note that these are fictitious properties compiled for assessment purposes only -, you will be using the property in which you currently reside, and another property of your choice that you have access to as you progress through these assessment questions. You will not be able to search for the property addresses provided in this case scenario as they do not exist.

Scenario

While talking with Robert on your mobile he asks for your advice on selling a property and also what rent he would be likely to receive on the rental property. He tells you he is happy for you to just give him an idea over the phone.

3. What must you advise the owners about giving an appraisal over the phone and what Act/Code and Section would this be breaching?

4. While talking with the client, what information gathered from them over the phone would you seek to further clarify? ie: verifying who the owners are? Please provide at least two sources of information which can give you further details about the property and/or the owners.

Scenario

You arrange a time to meet with Robert at 2pm on Friday at 7 Phillip Island Drive to discuss his requirements for the two properties. He is keen to sell 7 Phillip Island Drive in a reasonable time so they can travel and has to finish off some simple renovations to 2/9 Storybrook Place before it's ready to lease.

5. Draft an email to Robert confirming the appointment, explaining the purpose of the two appraisals and the process you will follow for him.

Your email must include

• The purpose of the appraisals
• The process you are going to follow.
• Robert's expectations and how you can address his needs.
• Confirmation to proceed with the appraisal process and meet with him to view the properties.

Scenario

While inspecting 7 Phillip Island Drive you gain as much information as you can from Robert about both properties. You make notes and checklists during your conversation. While looking around Property A (the one you are appraising for sale), you notice that there appears to have been an extension done to the property and there is also an old style water bore in the back yard.

6. write three questions you would ask the owner at this initial meeting regarding both of their properties to help clarify the situation and establish further material facts.

1.
2.
3.

Scenario

Following the inspection and discussion with Robert, update your vendor profile in Phantom's CRM.

8. Update Phantom Realty's database to creat a vendor profile for Robert Cagiva.

Client	Contact Details	Property/ies	Property Details	Follow up / Action

Scenario

You now get busy with the research required for the appraisal process and collecting pertinent information about the current real estate market.

You use the following sources to assist you

• Ref - Local govt websites
• Reiwa
• RP Data
• www.abs.gov.au

For assessment purposes, please assume that the geographical area of the properties you have chosen for Property A and Property B is Fantasy Glen and use the market data you access when responding to the next few questions.

9. Obtain all the background information on the geographical area of your chosen properties and prepar a report to help you with your appraisal. Please outline the following areas and how they may affect your appraisal;

Background Information Report	How does this information affect your appraisal?
current market conditions
local demographics
local amenities and schools
current economic, political and social factors

Scenario

Back in your office you speak to other professionals to ascertain all amenities available and how the property rates compare with others in the region. As part of your evidence gathering information on similar properties listed in the area, you speak to an agent from a different agency about Property A. They ask whose property was it, could you give them some further information, how desperate the owner is to sell and could they inspect the property with some potential buyers today.

10. What is your response and why would you give this response? Detail the applicable legislation in this situation.

Scenario

After you have gathered and checked all information you prepare your appraisals for both Property A and Property B.

You need to establish your recommendation to Robert Cagiva as to what market price he should expect for Property A (the sale property) and what rental price they may attain for Property B (the rental property).

11. make a"Signature CMA Report for Property A"anda"Signature Rental CMA Report for Property B"as to what the worth of each of the properties could be for sale and for lease respectively.

Remember that AT LEAST THREE - CURRENTLY FOR SALE/LEASE and THREE RECENTLY SOLD/LEASED properties must be selected for each report.

These reports must be completed using the relevant sections and data and will form the basis of your reports to the owners.These are to be "saved" and uploaded along with your Assessment, assuming this is the email of the CMAs you sent to Robert Cagiva.

Property A:properties currently for sale and recently sold and

Property B:properties currently for lease and recently leased

12. Name at least one other method of appraising property and give an explanation of what type of property /when you would most likely use that method.

13a) What are two situations where a client should be referred to a valuer?

b) What is the difference between an appraisal and a valuation?

Scenario

You prepa a professional listing presentation for the property that is going to be sold (Property A) that incorporates your Signature CMA Report that also outlines the following;

• An introduction
• An outline of the services offered by your agency.
• Area and property characteristics that affect the selling price. Identifying features that may assist or detract from the values.
• An outline of the recommended marketing.
• An outline of a proposed communication plan.
• Market Conditions that may affect the selling price, providing such evidence/making reference to your Signature Reports.
• Appraisal data (CMA which was completed in question 12), including;
• Establish the appraised value range.
• Limitations of appraisal
• Disclaimer/Disclosure

These highlighted items may be incorporated into your Signature CMA.

Remember this is the first major property transaction Robert Cagiva has made in some time and your presentation needs to be thorough, precise and yet easy to understand.

14. make a professional listing presentation

Listing Presentation
Introduction
Outlin of services offered by the agency.
Area and property characteristics that affect the selling price. (Identifying features that may assist or detract from the values.)
An outlin of the recommended marketing.
An outlin of a proposed communication plan.
Market Conditions that may affect the selling price, providing such evidence/making reference to your Signature Reports.
Appraisal data (CMA which was completed in question 12), including; - Establish the appraised value range. - Limitations of appraisal - Disclaimer/Disclosure These highlighted items may be incorporated into your Signature CMA.

Scenario

You arrange a time to meet with the seller, Robert Cagiva again to deliver the listing presentation and appraisal. At the meeting, the seller has some questions for you.

15.Record your conversation with Robert (Remember to answer using direct speech)

Robert	"Why should we employ an agency to sell our property?"
Your response
Robert	"What services does your agency offer us as prospective sellers?"
Your response
Robert	"What are the fees and commissions we will in incur if we sell through you?"
Your response
Robert	"What are the different methods of sale available to us through your agency?"
Your response
Robert	"How soon do you think it will take to sell the property? We need to sell it before we head off on our travels"
Your response
Robert	"I do not like your recommendation to have the air-conditioner and water bore repaired prior to placing their home on the market".
Your response
Robert	"Can you please tell me how you will contact me throughout the sale process?"
Your response

16. Deliver your listing presentation to Robert Cagiva. You will comple this by videoing and uploading your presentation which must be a minimum of 5 minutes long. (This can be recorded on your phone or another device and uploaded to the eLearning portal).It must include the items detailed in your listing presentation and make reference to the CMA.

NOTE:Beforeyou record your video, please read these guidelines

1. Adjust the settings on your mobile phone prior to recording - this will compress the size of the file. Here are instructions to followthese instructions
2. The eLearning portal has a file size limit of 500mb in uploading video into Go1. Please ensure each video is not longer than seven minutes in length. It is possible to record and submit two videos (a part 1 and a part 2) should your recording be longer than seven minutes.

17. After completing an appraisal/listing presentation, what information must be retained by the agency and how must it be stored?

Scenario

Robert Cagiva has agreed with your appraisal price and decided to list his property to sell with you. You meet with him to complet a Selling Agency Agreement

18. Using the case scenario

1. Robert Cagiva agrees to list his property (7 Phillip Island Drive, Fantasy Glen) with you on 11 September 2019.
2. You are working as a Sales Representative. The company Nolan Property Pty Ltd trades as Phantom Realty, located at 102 Fantasia Road 6789.
3. Remember to refer to the Certificate of Title for 7 Phillip Island Dr, Fantasy Glen located in the Phantom Realty Simulation.
4. Robert Cagiva has decided to grant you an Exclusive Agency from 11 September 2019 until 16 January 2020 at a listing price of $470,000.00.
5. Robert Cagiva has agreed to a selling fee of 3% inclusive of GST.
6. Robert Cagiva has agreed to an additional 30 days if a sale takes place after the exclusive rights period (15/02/2020) - refer clause 13 of the Selling Agency Agreement.
7. Robert Cagiva agrees to pay separate advertising and promotional expenses.
8. Robert Cagiva has agreed to pay a maximum of $1000.00 for marketing (inclusive of GST) towards the advertising, signboards, printed materials and promotions. These funds will be held in the Phantom Realty trust account - refer clause 16 of the Selling Agency Agreement.
9. Robert Cagiva agrees to pay a selling fee to the agent if they introduce the ultimate buyer during the authority period.
10. Robert Cagiva agrees not to appoint another real estate agent during the authority period.
11. Have all parties to the contract sign and initial all relevant places as though Robert Cagiva has signed.

19.

As part of securing the listing authority, what information about the sellers do you need to verify/record
What document/certificate must you obtain as per the REBA Act and Code of Conduct?

20. How can the information and feedback you have obtained doing this appraisal/listing presentation help you for future appraisals and presentations?

Scenario

After you have listed Property A for sale Robert Cagiva asks you a few more questions.

21. Record your conversation with Robert

Robert	"The home down the street, (which was not included in your CMA because it was a much bigger home, in better condition on a larger block) sold for $40,000 more than your appraised price".
Your response
Robert	If I do not have the air-conditioner and water bore fixed, can you just not tell prospective buyers? They won't realise until next year.
Your response
Robert	Can we please advertise the property at a lower price than what you have appraised it for so more buyers will come and look at it? I don't have to accept any offers if they come in at that price.
Your response	.
Robert	If a buyer is interested in making an offer on our property, do we just have to agree to everything verbally?
Your response

After having secured the listing with Robert, you discuss and agree to a suitable communication plan. He wants you to keep him informed on a weekly basis about the progress of the sale including:

• Enquiries received
• Home opens conducted
• Number of people through home opens and their feedback
• Website hits on online advertising
• Number of offers received

22. Creat a weekly communication plan outlining how you will keep your client informed as per their instructions and get feedback from them on the sales process moving forward.

You may be creative and make up some information relating to the success of your sales campaign in line with the case scenario

Communication Plan - week 3 of sales campaign
	Number	Buyer feedback given	Seller's instructions and feedback on the sales process and progress reports	Email/phone call update sent to client Yes/No
Number of enquiries received
Number of home opens/inspections conducted
Number of people through home opens/inspection
Website hits
Offers received

Outline when and howyou will contact Robert on a weekly basis to give him this feedback: