ASSESSMENT TASKSCPP40307CERTIFICATE IV IN PROPERTY SERVICES(REAL ESTATE)A G E N T ’ S R E P R E S E N T A T I V EC P P D S M 4 0 0 7 A I d e n t i f y l e g a l a n d e t h i c a l r e q u i r e m e n t s o f p r o p e r t ym a n a g e m e n t t o c o m p l e t e a g e n c y w o r kC P P D S M 4 0 0 8 A I d e n t i f y l e g a l a n d e t h i c a l r e q u i r e m e n t s o f p r o p e r t ys a l e s t o c o m p l e t e a g e n c y w o r kC P P D S 4 0 8 0 A W o r k i n t h e r e a l e s t a t e i n d u s t r yT A TASK 2K© 2015 REAAASSESSMENT TASK 2Assessment Task 2: Working in real estateWhat you need to do:§ For this assessment task you will undertake research and report on various aspects of working in the real estateindustry.What you will need:§ Research materials such as books, internet, magazines, workplace documentation etc.§ Access to legislative and regulatory documentationWhat you need to submit:§ Your report.InstructionsYou will need to research information and/or visit a local agency to assist with your responses for this task.You should use a variety of sources to gather information including training resources, workplace policies andprocedures (if you are able to access these) and government and industry bodies.You are required to provide information about the following points. You must prepare a written response to eachpoint, which can be supported by example documentation as required. Ensure material is referenced appropriately.Your industry report must cover the following topics:a) Real estate agency structure and personnel§ Identify the various business ownership options and services offered by real estate agencies.§ Provide an outline of a typical organisational structure for a real estate agency.§ Provide an overview of agency staff roles and responsibilities including administration, agents and agent’srepresentatives and management.§ You must address legislative liabilities and responsibilities (refer to appropriate sections of the relevant Actfor your state or territory).b) Key agencies and industry bodies.Provide a detailed overview of the following agencies (refer to your own state or territory where required),including any legislative powers they have.§ Consumer affairs/fair trading§ Civil and administrative tribunal§ Estate agents council/property board§ Residential tenancies bond authority/board§ Real Estate Institute of Australia (REIA).c) Legislative requirements© 2015 REAA CPP40307 Certificate IV in Property ServicesASSESSMENT TASK 2§ Identify the legislation in your state or territory relating to regulation of the real estate industry, includingproperty sales and management.§ Identify and document how agencies maintain up-to-date records of legislation and industry codes.§ How are amendments to legislation and industry codes tracked and communicated to staff?d) Ethical and professional conduct standards§ Identify and name the legislation in your state or territory relating to ethics and professional conduct ofestate agents and agent’s representatives.§ Discuss the objective of the regulations.§ What are the obligations contained in this legislation.e) Client service standards§ Identify and outline strategies for the implementation, monitoring and review of client service standards.f) Risk management§ Identify and outline strategies for identifying and assessing risks.§ Provide examples of policies and procedures for minimising and treating risks. How are these proceduresmonitored and reported on?© 2015 REAAASSESSMENT TASK 2Project 2What you need to do:§ Research and identify the penalties for breaches of the relevant estate agent’s Act in your state or territory.What you will need:§ Research materials such as books, internet, magazines, workplace documentation etc.§ Access to legislative and regulatory documentation relevant to own state or territory.What you need to submit:§ Your responses in the table below. The Act for your state or territory:ObligationMaximum penalty for breaching yourobligationSection of theActYou must not act as an estate agent unlesslicensed to do so.You must not act as an agent’srepresentative unless you are eligible to beemployed to do so.You must not permit or assist a personwho is not licensed to carry on thebusiness of an estate agent.You must not publish or authorise thepublication of an advertisement that isfalse or misleading.You must not market a property for sale ata lower price than your estimated sellingprice (commonly referred to asunderquoting).You must not purchase or indirectlybenefit from the purchase of any realestate or business you are engaged to sell. © 2015 REAAASSESSMENT TASK 2 The Act for your state or territory:ObligationMaximum penalty for breaching yourobligationSection of theActYou must keep trust money in a separateand current trust account at an authorisedfinancial institution.You must not fraudulently use trust moneyor falsify trust accounts.
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