CPPDSM4080A Work in the real estate industry

CPPDSM4080A Work in the real estate industry
Case Studies
Activity 1.
You work for a real estate agency in a small country town. Your office principal recently listed a
small hobby farm. Your father had been looking for a country property and you thought that
this farm would be ideal for him. You persuaded him to come and inspect the property, and he
has now made an offer to buy the farm which has been accepted by the seller.
Your father lives in the city. He has no knowledge of the local marketplace and has never
purchased a rural property before.
He asks to be referred to a local solicitor but the only solicitor in town is the husband of the
agency’s property manager.
1.
Outline the 2 legal issues that are evident in this scenario (refer to Sections 55 of the
Estate Agents Act 1980)
2.
Outline any ethical issues that you should be aware of.
3.
Explain the actions you need to take to ensure that you are compliant with your state or
territory legislation.
4.
State the penalties that may be imposed both on you personally, and the agency as a
business, if you fail to comply with the legislation.
CPPDSM4080A Work in the real estate industry
Case Studies
Activity 2.
You are a sales assistant in a small suburban agency. Your franchise owner, 2 salespeople and
your property manager have all gone interstate for a 2 day conference. You and the
receptionist have been left to look after the office while they are away.
One of your new vendors comes into the office to pay the marketing expenses that he agreed
on the sales agency agreement. He has brought in $1750 in cash.
You do not want to make any mistakes, as you have heard that there are severe fines for not
dealing with clients’ money correctly.
a) What sort of money is this?
b) Why can it not be banked into the agency’s general account?
c) What are the requirements about issuing a receipt to the client?
d) What are the rules about banking this money?
e) What procedures would you put in place when taking the money to the bank to ensure its
and your own safety?

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