SOLUTION: CPPREP4001 Real Estate- Services and Employment Areas

Scenario

You are a new employee of the agency and have been asked by the licensee, Sarah Hampden, to complete a research report to assist you with the development of your skills and knowledge. Sarah has provided you with guidance, in the form of the questions and tasks listed in part 1 to part 4 of this assessment. She has also asked you to provide a reference page at the end of the report for all external sites used during your research.Part 1: Real Estate operations

1. Using the ABRG websiteand your student workbook, explain the following services and employment areas offered by real estate agencies.

Services	Service Explanation	Position title/employment areas	Registration/licence/accreditation required
Residential sales
Auctioneering services
Residential Property Management and business development
Commercial (including retail and industrial) sales
Commercial management (including retail and industrial)
Rural services
Strata Management
Business Brokers
Buyer’s agent

2. Complete the table below by describing the party and explaining the relationship with the agency. Provide and explain two other parties.

Party	Relationship
Vendor
Purchaser
Landlord/Lessor
Tenant/lessee

3. Research and discuss the benefits and risks of different business structures for a real estate business. Include the following areas in your response:

a. three forms of business ownership

Form of Real Estate Business ownership

Explanation

b. three organisational models.

Organisational models for Real Estate Agencies

Explanation and example

c. Provide an example of a real estate organisational structure, you should use a simple diagram to represent this.

4. Identify the parties in an agency-principal relationship, then explain the relationship by providing an example.

5. Using the ARBG site and NSW Fair Trading, list the licensing requirementsand outline the roles and responsibilities of the following regulated personnel.

Personnel	Licencing requirement	Role and key responsibilities
Licensee
Real estate agent (sales)
Real estate agent (Property Management)
Assistant agent (Sales)
Assistant agent (Property Management)

6. Using the NSW Fair Tradingwebsite, explain the licensing, eligibilityand qualification requirements for the following roles:

Role	Eligibility	Qualification required
Licensee in charge
Licensed real estate agent
Assistant agent
Corporation
Auctioneer

a. Under what circumstance can a person work in the industry without a license or registration?

7. Using the Property and Stock Agents Act 2002(NSW) and your student workbook as a guide, define the meaning of the following terms in a real estate context, in NSW.

a. Licensing lending

b. Unlicensed trading

8. Research the current regulatory requirements for professional development for real estate employees, using the Fair-Tradingwebsite for Continuing Professional Development (CPD). Explain the CPD requirements for each of the below categories.

Registration/Licence category	CPD hour and topic outline requirements	CPD Topics
Class 1 licence holder Real Estate or Strata management
Class 1 licence holder Stock and Station
Class 2 licence holder Real Estate or Strata management
Class 2 licence holder Stock and Station
Assistant real estate agent (Registration Certificate) Real Estate or Strata management
Assistant real estate agent (Registration Certificate) Stock and Station

9. According to NSW Fair Trading, the CPD year starts on the _______________and ends on the_________________.

Outline two professional development pathways an employee can follow when working in real estate, include the relevant course or specialisation in your response.

Part 2: Communication

1. Research and discuss at least three communication skills/strategiesyou would require to work effectively in the real estate industry.

2. Client complaints occur regularly in the industry, identify and explain three communication strategiesyou could use to deal with complaints.

Part 3: Employment opportunities and conditions

Word count for this section:

1. Analyse the 10 National Employment Standards, and record the employer and employee rights and responsibilities forfive of the standards listed below, Do not include the example in your five standard.

Employment Standards	Employee Rights and responsibilities	Employer rights and responsibilities
Example: Maximum weekly hours	Employee must work the required hours under the respective award and type of employment, but can refuse to work unreasonable additional hours.	The employer must not ask an employee to work more than 38 hrs per week for a full-time employee, and not request or require the employee to work unreasonable additional hours
Requests for flexible working arrangements
Annual leave
Request for flexible working arrangements
Personal/carer’s leave, compassionate leave and unpaid family and domestic violence leave
Community service leave
Fair Work Information Statement
Notice of termination

2. Research the awardsthat relate to real estate employees in NSW.

a. List the full name of the award and provide a link to where it can be found online.

b. Using the ‘Real Estate Award’, examine and summarise the standard terms and conditions for employment in real estate.

Note: Where the conditions/standards are the same as the National Employment Standards you may use the phrase “as per NES.”

Terms and conditions	Summary
Example: National employment standards and this Award	Informs us that the NES are the minimum conditions of employment and if the award referees to a condition or standard of employment that is covered by the NES, then the NES will apply. It informs us that the award must be available to all employees.
Types of Employment and Classifications
Hours of work
Wages and allowances
Over-time
Leave and public holidays
Part 7—Consultation and Dispute Resolution
Termination of Employment and Redundancy

Part 4: Legislation and ethical conduct

1. Identifythe correct legislation (acts and regulations) for each of the following areas, including the full title of the legislation and a link to where it can be found. Explain the aim and purpose of these acts and how they are relevant to your work as an agent.

Areas	Full name of Legislation and/or subordinate legislation	Aim and purpose	Relevance to your work role
Act and regulations that govern all real estate operations in NSW
Hyperlinks:
Real Estate Licencing
Hyperlink:
Privacy and confidentiality
Hyperlink:
Residential tenancies
Hyperlink:
Retail tenancies
Hyperlink:
Equal Employment Opportunity
Hyperlink:
Anti-Discrimination
Hyperlink:
Work Health and Safety
Hyperlink:

2. Analyse (identify in first column, then explain) a code of conduct/regulation for each row, applicable in the Real Estate industry.

Code of conduct/regulation	Analysis
Code at Business level
Code at Industry Level
Regulation

3. Identify and explain the role of the regulatory body for real estate practices in NSW?

4. Expand the acronyms below, explain their role and function in the property industry.

NREA
REEF
REI and REI NSW
Property Council of Australia

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