I Have Referenced And/Or Acknowledged All Necessary Authors

STUDENT DECLARATION OF AGREEMENT
I hereby submit these assessment tasks for the unit stated above and certify:

I have the right to appeal either the process or the outcome of this assessment, as set out in the assessment booklet and the Student Handbook.

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I have read and understood the Student Handbook (including its Privacy Policy), which can be found at: and agree with and acknowledge its terms.

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Work contained in this document has been completed by me only and not copied from another person.

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I have referenced and/or acknowledged all necessary authors.

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I have saved a copy of the Project Assessment document that I have completed

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Where required, I have completed in full any agreements, forms and contracts in relation to this assessment. I understand and acknowledge that partial completion of this assessment will not be accepted by REINSW.

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Where necessary, I have uploaded required documents to the online platform

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I acknowledge that REINSW will provide, and I agree to REINSW providing, access to my training records and results to my employer who funds my learning, upon request by that employer.

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I acknowledge that Federal and State agencies have the right to access any part, or all, of my assessment and results for auditing and monitoring purposes.

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I consent to REINSW using my de-identified assessment and results for internal moderation and validation purposes.

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I havesigned each page of this assessment.

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I have read, dated, signed and otherwise completed this Student Declarationbelow.

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Student Full Name (print)
REINSW ID / Mobile Phone
Work Phone / Home Phone
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TABLE OF CONTENTS

PART 1 – YOU GOT THE JOB

TASK A: WORKING IN AN AGENCY

TASK B: MANAGING YOUR CAREER

TASK C: MANAGING YOUR WORKLOAD

PART 2 – THE SALES TEAM

TASK A: PREPARING FOR THE SALE

TASK B: FINALISING THE SALE

PART 3 – THE PROPERTY MANAGEMENT TEAM

TASK A: LEASING THE PROPERTY

TASK B: MANAGING THE PROPERTY

PART 1 – YOU GOT THE JOB

Section 1is comprised of the following three (3) tasks:
TASK A: WORKING IN AN AGENCY
TASK B: MANAGING YOUR CAREER
TASK C: MANAGING YOUR WORKLOAD
All three (3) tasks must be completed.

TASKA: WORKING IN AN AGENCY

Scenario
Read thefollowing scenario and write short answers to the questions that follow.
You have just received your Certificate of Registration and have got your first job at Preets Real Estate. You will be meeting with the principal – Peter McGibbon – to discuss your role and your future with Preets. Review the tasks below to help your prepare.
Resources provided to you
To complete Part 1 -Task A, you will need to refer to the following resource:

Agency Informationcan be downloaded from your Project Portal

a) To get ready for your first week you need to familiarise yourself with the services of Preets Real Estate. Refer to the information provided about Preets Real Estates, Features and Services document, provided on the project portal (Agency Information).

Summarise the key services offered by the agency and how they meet the typical Preets client objectives.
Client Objective / Agency service that meets this objective
b) Identify the key operations of an agency
c) List the key sales activities and a list of the property management activities an agency would undertake

You must be clear about the Rules of Conduct that govern real estate agency operations and how your actions can breach these rules. To do this, Peter McGibbon has asked you to visit the Fairtrading website and review the information contained there:

The Rules of Conduct for Real Estate Agents (Rules 1-19) To access these rules go to , select Property Agents & Managers/ Rules of Conduct/ Real Estate Agents
After you have located the Rules of Conduct, you will need to read all 19 Rules to answer the following questions

a)Choose 3 Rules of Conduct and explain the relevance of your chosen 3 to a Real Estate agent. Make mention of how complying with the rules benefits your client. (approx. 300 words) (Do not just list the 19 Rules of Conduct)
b)Are the Rules of Conduct enforceable by NSW Fair Trading?
What penalties could be imposed?
c)Preets requires you to use your own mobile phone and motor vehicle for work. Review the Real Estate Industry Award 2010 and briefly explain your rights and responsibilities relating to using
1)your own mobile phone
2)and motor vehicle. (Response: Approximately 200 words)
The award can be found at:

TASK B: MANAGING YOUR CAREER

Scenario Continues
Read thefollowing scenario and write short answers to the questions that follow.
Peter McGibbon wants to ensure you continue to develop your skills and grow in your role with Preets. He asks you to look at your current strengths and areas that you need to develop. He also wants you to look at ways to continue your development.
Resources provided to you
To complete Part 1 - Task B, you will need to refer to the following resources:

Position Description – Sales Agentcan be downloaded from your Project Portal
Position Description – Property Managercan be downloaded from your Project Portal

Briefly describe the roles and responsibilities of each of the following positions in an Agency.

What are the licensing or registration requirements for each position?
(Write one to two roles and responsibilities for each role)
Role / NSW Fair Trading Requirements Licensing/Registration Requirements / Roles and Responsibilities
Salesperson
Property Manager
Licensee
Auctioneer
Buyers Agent

You must continuously review your skills to remain current and compliant. Assess yourself against the duties and required skills and experience listed in bothposition descriptions.

Complete the table below:

List 4 Duties/Skills/Knowledge
Tick 2 areas of strength
Tick 2 areas for further development

Duties/Skills/Knowledge / Strength  / Further Development 

Referring to the table above in question 2, write 3 goals that address your areas for further development.

For example: If you identified that you needed to develop your network and become known in your local area a suitable goal could be: “Attend 2 networking meetings to develop my contacts in the local area by the end of the year”

a) Identify and list at least 3 opportunities for continuing professional development training that will assist you to meet your development goals identified in question 3.

b) As part of your response, list websites you visited to find training opportunities.
a)
b)

TASK C: MANAGING YOUR WORKLOAD

Scenario Continues
Read thefollowing scenario and write short answers to the questions that follow.
Preets is a busy and thriving agency. You need to hit the ground running and plan and prioritise the tasks that have been assigned to you. Review what you need to do and update your diary. You need to coordinate your activities with your team.
Resources provided to you
To completePart 1 - Task C, you will need to refer to the following materials:

Diary Template can be downloaded from yourProject Portal

Documents required to be uploaded for submission
 Evidence of tasks scheduled in diary template
 Evidence of email to confirm time availability

Below is a list of tasks that you will need to enter into the diary template.

Schedule the tasks in the diary template to demonstrate how you would time manage these tasks in any given week.

Attendance at 3 open house inspections on Tuesday 10am-11am; Thursday 1pm-2pm and Friday 2pm – 3pm
Staff meeting on Monday 11am
Meet with Property team for a 30 minute induction meeting
Meet with Sales team for a 30 minute induction meeting
Review current rental listings
Review current sales listings
Prepare correspondence for current tenants to be sent out by Friday of the current week
Arrange property inspections for 3 newly listed properties

Note: Use the diary template for your response.

Send an email to your team members at nfirming your availability for the staff meeting and sales team induction.

Note: You must upload the e-mail you sent to the online platform to provide evidence of your sent email

PART 2 – THE SALES TEAM

Part 2 is comprised of the following two (2) tasks:
TASK A: PREPARING FOR THE SALE
TASK B: FINALISING THE SALE
All two (2) tasks must be completed.

TASK A: PREPARING FOR THE SALE

Scenario
Read thefollowing scenario and write short answers to the questions that follow.
You have been working with Preets Real Estate for 2 months now and are enjoying working in such a supportive and well-structured agency. You have now moved into the sales team for the next phase of your training. You are required to assist the team with preparing documents and marketing materials, addressing client needs and completing a sale.
The licensee in charge, Peter McGibbon, is keen for you to learn all about the sales process and invites you to accompany him to a listing presentation and appraisal of a home owned by Anthony Simpson and Mei Wong. The prospective clients have alleged that their previous agents were unprofessional and they are not proceeding with the auction they had planned.
Resources provided to you
To complete Part 2 - Task A, you will need to refer to the following materials:

Property, Stock and Business Agent’s Act 2002 can be downloaded from your Project Portal

In preparation for the meeting with the Peter McGibbon and the clients, you are required to review Sections 72 and 74 of the PSBA 2002 when providing an estimate of price to a prospective vendor.

a)Having read Section 72 in your own words summarise the key points addressed.
b)Having read Section 74 in your own words summarise the key points addressed.
Scenario Continues
After meeting with the prospective clients, Anthony Simpson phones the office and confirms Preets Real Estate is their chosen agency and wants to engage your services as the sale representative. Your licensee in charge, Peter McGibbon, has asked you to prepare for the follow up meeting. You need to complete the following tasks.
Resources provided to you
To complete the following questionsof Part 2 – Task A, you will need to refer to the following materials:

Agency databasecan be downloaded from your Project Portal
Sales and Inspection Report and Exclusive Agency Agreementcan be downloaded from your Project Portal

Documentsto be submitted
 Completed Sales and Inspection Report and Exclusive Agency Agreement
 Copy of email sent to potential buyers for question 5

Complete Sales Inspection Report and Exclusive Agency Agreement using the following details. You can access the form from yourProjectPortal

Vendors: / Anthony Don Simpson and Mei Yu Wong
Address: / 23 Cone St Ashbury NSW 2134
Contact: / W: (02) 9211 4001 H: (02) 9111 1111
Agency: / ABC Pty Ltd trading asPreets Real Estate
ABN: / 99944446666
Licence: / Corporate License Number 123456
Address: / 30-32 Wentworth Ave, Sydney, NSW 2000
Email: /
Contact: / (02) 9999 9999
Vendor Asking Price: / $800,000
Price: / CMA’s show similar houses with the following prices: $700,000; $799,000; $801,500
Solicitor: / Legal Begal
Address: / 111, Level 2 Some St Nancyville. NSW 2000
Agency Period: / 3 months from today’s date
Selling Fee: / 2.2% (GST Inclusive)
Advertising contribution: / $3500 total cost of program. (Part of this is SMH ad cost is $850)
Disclosure: / The agency you work for receives a discount from Sydney Morning Herald on alladvertising placed with them of 5%
a)You have chosen Private Treaty as the selling method for this property. Explain why.
b)Choose three (3) marketing activities that will be appropriate for the sale of this property. Explain why

Identify the following: (Include reference to relevant legislative requirements in your answer.)

Name at least 3 things that could go wrong with a Private Treaty Sale.

At least 2 risks to the agent relating to advertising and marketing of the property.

What are 2 strategies you could use to prevent these risks from occurring?

Search the agency database and:

Identify 2 buyers who may be interested in 23 Cone Street, Ashbury
From the agency database you searched explain why you selected these buyers.
Write an email that you would send to each buyer advising them of suitability of the property you have just listed.

Type or submit a copy of your email as part of your assessment response in the space below.

TASK B: FINALISING THE SALE

Scenario Continues
Read thefollowing scenario and write short answers to the questions that follow.
Anthony and Mei’s property at 23 Cone St, Ashbury has now sold for $850 000 and you are required to assist with the completion and signing of the contract. Information you need to do this is:

The normal 5 day cooling off period will apply.
Date of exchange of contracts is Monday 15th June 20XX.
The property has been purchased by Robert Andrew Downe of 22 Nowhere Avenue, Cloudville, NSW 2001.
The solicitor is Pandos Associates, 41 Blue Avenue, Cloudville, NSW, 2001

Resources provided to you
To complete Part 2 – Task B, you will need to refer to the following materials:

Certificate of Title Samplecan be downloaded from your Project Portal
Contract for the Sale of Land Samplecan be downloaded from your Project Portal

Calculate the following information by the buyer :

a)The deposit that must be paid to the agency on exchange of contracts?
b)The agent commission at 2.2%
c)What date does the cooling off period end
d)If the purchaser waives their cooling off rights, what form must be completed by the purchaser’s solicitor/conveyancer?

Check the front page of the Contract for Sale of Land against the Certificate of Title for any discrepancies.

a)Are there any discrepancies?
b)If so, what are they?
c)Can you correct the mistakes?
If not, who can make the corrections?

List what records relating to the sale of property you would retain. Explain howand where you would store these and why it is necessary.

How would you ensure compliance with the Privacy Act, and the principles of client confidentiality throughout the sales process? (Approximately 150 words)

PART3 – THE PROPERTY MANAGEMENT TEAM

Part 3 is comprised of the following two (2) tasks:
TASK A: LEASING THE PROPERTY
TASK B: MANAGING THE PROPERTY
All two (2) tasks must be completed.

TASK A: LEASING THE PROPERTY

Scenario
Read the following scenario and write short answers to the questions that follow.
You have now moved into the property management team for the next phase of your training. You are required to assist the team with listing, leasing and managing a property.
Your agency has been approached by the landlord, Mr Robert Andrew Downe, the purchaser of the 23 Cone Street. He has asked the agency to lease and manage the property.
Peter McGibbon has asked the property management team to involve you in all the processes of listing, leasing and managing a property.
Resources provided to you
To complete Part 3 - Task A, you will need to refer to the following resources:

Exclusive Management Agency Agreementcan be downloaded from your Project Portal
Pictures of 23 Cone Street can be downloaded from your ProjectPortal

Documents to be submitted
 Completed Exclusive Management Agency Agreement
 Bond Lodgement Form
 Residential Tenancy Agreement
 Condition Report

a) Write adraft email to the landlord to arrange a meeting time to conduct a property inspection.

b)To build rapport with your client, create a list of five (5) questions that will help you identify the clients needs.

Having conducted the inspection and provided a rental appraisal, you are now required to complete anExclusive Management Agency Agreement using the information provided below and the partially completed form provided in your ProjectPortal. To complete the inspection report you are free to make up the details.

Landlord: / Mr Robert Andrew Downe
Landlord Address: / 22 Nowhere Avenue, Cloudville, NSW 2001
Contact: / W: (02) 9211 4001 H: (02) 9111 1111
Rental Premises: / 23 Cone St Ashbury NSW 2134; unfurnished, garage space included
Agency: / ABC Pty Ltd trading as Preets Real Estate
ABN: / 4449996666
Licence: / Corporate License Number 123456
Address: / 30-32 Wentworth Ave, Sydney, NSW 2000
Email: /
Contact: / (02) 9999 9999
Price: / CMAs show similar houses with the following rental prices: $550/week; $575/week & $600/week
Special Instructions / Nil
Management Fee / 7.7% inclusive of GST
Tenancy Agreement Preparation Fee / $33.00 inclusive of GST
Leasing Fee / 1 weeks rent (+GST)
Administration Fee: / $5.50/mth inclusive of GST
Notice Period of Termination / 30 days
Bank Details / Preets Real Estate Trust Acc
ABN 1597534682
BSB 123 456 Acc# 789 123

List the steps for:

a)Showing a property to prospective tenants.
b) Selecting the tenant for a property.

How would you ensure the following: (Refer to agency policies and practices or other strategies in your answer)

Locating the keys for an inspection

There are no trip hazards at the open inspections

The property is secured at the conclusion of the inspection

Scenario Continues
Read the following scenario and write short answers to the questions that follow.
You have conducted a number of showings of the property and have received a range of tenancy applications. You have received applications from:

Fredo Rositano
Steven Kingsmith
Laquisha Castanettes
Robert Hest

Peter McGibbon has asked you to review the applications and make some recommendations as to which tenants would be suitable for the property.
Resources provided to you
To complete this section of Part 3 – Task A, you will need to refer to the following resources:

REINSW Application for Tenancy 1,2,3,4can be downloaded from your Project Portal
REINSW Residential Tenancy Agreementcan be downloaded from your Project Portal
Rental Bond Lodgement Formcan be downloaded from your Project Portal
Agency Databasecan be downloaded from your Project Portal
Bond Money Policy& Procedure can be downloaded from your Project Portal
Document Management Policy can be downloaded from your Project Portal
Communicating Financial Statements Procedurecan be downloaded from your Project Portal

You have reviewed all the applications and completed the necessary reference checks to select a suitable tenant.

State which applicant you have chosen and explain why you would recommend them to the landlord.

Having made your tenant selection, use the information on the application form in question 5 to:

Complete the Residential Tenancy Agreement and
Bond Lodgement form and
Condition Report of the property you live in

The forms are available on the Project Portal.
The selected tenant has no agent and the term of the agreement is 52 weeks starting from today’s date.
Note: Use the specified forms above for your response and uploaded the completed forms for submission.

Complete the following blanks

Maximum bond amount is

Must be received by
Bonds should be recorded on
Bonds are lodged to and by

List what records relating to the leasing of property you would retain. Explain how and where you would store these and why this is necessary.

Explain how you would meet your obligations under the Privacy Legislation throughout the property management processes.

TASK B: MANAGING THE PROPERTY

Scenario Continues
Read the following scenario and write short answers to the questions that follow.
Six months into the tenancy, you (as the property manager) have been informed by the tenants that the dishwasher no longer works and water is leaking on the kitchen floor. You have contacted the landlord and Mr Downe has agreed to buy and install a brand new dishwasher. Your tenants are delighted with the news.
Mr Downe has bought a new dishwasher and you have arranged A1 Plumbing to install the dishwasher. The Plumber has agreed to come and pick up the keys from the agency office.
Resources provided to you
To complete Part 3 - Task B, you will need to refer to the following resources:

Key Handling Policycan be downloaded from your Project Portal
REINSW Termination notice can be downloaded from your Project Portal

Documents to be submitted
 Key Register
 Termination Notice

Write a letter or email informing the tenants of the purchase and to arrange a suitable installation date.

Referring to the Key Handling Policy, list the items that would be required on a key register. Describe the process that should be followed to ensure security of keys and the key register.

A copy of the Key Handling Policy can be downloaded from your Project Portal.

Describe the work health and safety risks

For the tenant in relation to the leaking dishwasher
Forthe plumber in relation to accessing the property and installing the dishwasher.

Briefly outline how you would minimise these risks.
Scenario Continues
Read the following scenario and write short answers to the questions that follow.
Mr Downe would like to end the fixed tem agreement giving the tenants the appropriate notice period. The lease expires in the next 6 weeks.

Write a letter to the tenants explaining that the lease will be terminated and complete a termination notice. The termination notice can be found on the Project Portal.

List at least 6 steps that you mighttake to finalise end of the tenancy and the outgoing inspection.

List the details that would be included in an end of month statement to the landlord and explain the processes you would follow to prepare the statement.

As the property manager you are interested in purchasing this property yourself but know you are bound by legislation in relation to purchasing the property. Explain the following:

The restrictions placed on you purchasing the property as an employee of the agency.

The penalties associated with breaching these restrictions.

If the landlord asks you for your professional advice on the sale of the property, what are the processes you would follow to respond to the landlord’s enquiry

Who are the other people you would report to in order to comply with the landlord’s request