PART A - Oral questioning and learning activities
Question 1: You have relocated to a new area and have taken a position with the local real estate agency as a sales consultant. In your own words, list 5 listing sources you would consider to build a reputation and generate listings for yourself. Provide an explanation of why you have chosen each listing source.
Question 2: The office you have recently started with is in the process of updating their listing presentation and has asked for your input. Why would you suggest using visual resources in a presentation to a potential client? List and explain 5 reasons.
Question 3: The Licensee further asks what you could demonstrate to the client visually. List and explain three (3) examples.
Question 4: You are at a listing presentation and the potential client asks why a title search needs to be done as part of the process. Explain how you would respond to this question.
Question 5: Create a list of practices that will encourage good rapport with a potential seller the first time you meet them. Your answer must include 5 practices.
Question 6: You have been successful in obtaining a listing and signed the relevant paperwork with the property owner. Describe five activities you would undertake within 24 hours of securing a listing.
Question 7: During a listing presentation the property owner has said they hear the first offer is usually the best offer. How would you respond to this statement?
Question 8: In the same listing presentation as above, the property owner also asks you what the difference is between an open and a controlled listing. How would you respond to this statement? Take in to consideration any legislative requirements of each style of listing in your response.
Question 9: You have been asked to explain the types of listings that would be considered an exclusive agency to a potential seller. What types would be considered an exclusive agency and why?
PART B - Short answer section
You are required to complete the following questions based on the case study information supplied.
NOTE: The answers to these questions will become your underlying plan for the marketing strategy.
Question 1: You are listing a property for sale that is quite old and in need of a 'tidy up'. The walls are marked and the carpets are stained.
What could you suggest to your client, regarding the presentation of the property and the impact this has on attracting buyers?
Question 2: The Property Occupations Act has three requirements that must be fulfilled before an agent is entitled to commission on a transaction. Identify what they are.
Question 3: You have been engaged to sell a residential property under an exclusive appointment for the maximum regulated period of 90 days. Towards the end of this period, you have a discussion with the client about extending the appointment of agent for a further 90 days. What is the time frame where you can use Part 10 of the PO Form 6 Appointment of Agent to do this?
Question 4: The Listing Presentation: You have been asked by a property owner to meet with them to discuss the possibility of putting the house on the market and selling it. There are a number of things you need to consider leading up to, and whilst at the appointment you have made for 2:00pm on Friday afternoon.
The following is a summary of a listing sequence. In the spaces indicated by blank lines, add details and complete the missing steps/processes that you would undertake.
Question 5: You have been asked to list an executive home for sale. Your initial conversations with the sellers reveal that the owners are selling because they are divorcing and the sale will be part of the property settlement. What listing option would you recommend and why?
Question 6: The couples have two young children and they are quite emotional about the pending sale of the property. They have been advised by friends to give the listing to three agents as an open listing; and ask you for professional advice.
You consider an exclusive agency would be more appropriate than an open listing under the circumstances.
Provide four (4) benefits of an exclusive listing and explain why they would benefit their personal situation.
Question 7: A powerful motive to sell suggests that the seller has to be realistic and will be serious about meeting the market. Identify five (5) powerful motives to sell.
Question 8: You have presented a comparative market analysis (CMA) to a potential client. They have asked you what sort of appraisal method a CMA is. Please explain how you would respond to this question.
PART C - Case study section
Please read the following case study and complete the PO Form 6 Appointment of agent form with the sales schedule provided in preparation for the clients to sign. Where information is not provided you are required to submit relevant information at your discretion. Use the completed version of the PO Form 6 and REIQ Schedule in your learning materials as a guide.
If you have access to Real works, you are permitted to use this program to complete the case study otherwise use the blank form provided in this assessment.
Case Study information-
27 Nottingham Lane BOURKES BAY QLD 4227
The home is owned by Hamish and Lisa Rose who are a professional couple moving to Northern Territory due to a job transfer. As they are moving for business purposes they are quite anxious to sell the property quickly.
Hamish and Lisa have asked you to list the property at $875,000 to be effective for an exclusive period commencing 2 November 2015 for the maximum listing period permitted under the Property Occupations Act.
Attachment:- Assignment.rar