Case Studies What you need to do: As you have already learned from the previous unit CPPREP4003 – Access and interpret legislation in real estate (Release 1), accessing, reading, interpreting and applying legislation is an integral part of your role in real estate practice. For the following assessment task, you will once again be required to access, read, interpret and apply legislation. Read each case study below and respond to the questions considering which legislation (name of Act or Regulation) is being breached in each scenario. Refer to the relevant Acts and regulations of legislation that are directly and indirectly relevant to each scenario and ensure you refer to the sections of legislation that you interpreted and applied to each case study. There are multiple sections of legislation that are relevant in some of the questions. Examples of legislation you will need to consider includes but is not limited to; Property and Stock Agent Act 2002Property and Stock Agents Regulation 2014Privacy Act 1988Crimes Act 1900 (NSW)Crimes (Secret Commissions) Amendment Act 1987Competition and Consumer Act 2010 You are required to answer all questions correctly. If correct, you will see ‘Satisfactory’ written in your grades section next to the assessment name. If incorrect, you will see ‘Not Satisfactory’. After grading your working, the assessor will provide you with a Record of Results to identify any skills gaps and feedback regarding any required re-submissions. How to Submit your Assessment: Upload your completed document into the CPPREP4002 – Case Studies Online Assessment in your learner portal. You can drag and drop the file into the window or use the add file icon in the top left of the submission window and select the file your wish to upload by using the browse/choose file option. Click on finish attempt to submit it for grading. Case study 1 Chris is the principal Licensee at City Real Estate. He has built the agency over the last six years and he has established a strong client base and reputation within the local region. He has several experienced employed sales agents and agents holding their registration certificate working for the agency. Bethany has been working as administration manager for City Real Estate since its inception and has worked closely with Chris to build the business. She displays a keen interest in the real estate industry and over the years has developed an excellent working knowledge of various aspects of an agent’s role. She has decided to undertake training to obtain her registration certificate. Chris was recently offered a teaching position at a local TAFE. As a result, he is spending less time in the office, sometimes not coming into the office for days in a row. He is confident that the staff will continue to provide excellent service. Last week one of the agents responsible for property management resigned and Chris has asked Bethany to conduct some urgent rental property inspections and prepare the condition reports. Which section(s) of the legislation have been breached under the relevant Act. You must name the legislation and relevant section in your answer. Click or tap here to enter text. What advice would you give Bethany and Chris? Click or tap here to enter text. How will any breach of the Act impact on Bethany’s eligibility to obtain her registration certificate? Click or tap here to enter text. Case study 2 Marissa is an agent holding her registration certificate with ABC Real Estate. Graham is looking to purchase an apartment in an inner-city suburb and has shown keen interest in a small apartment that Marissa has listed. Graham tells Marissa that he is “looking for an apartment in a quiet area” as he works night shift and needs to sleep during the day, especially on weekends. Marissa is excited because this apartment has been listed for over two months and she really wants to close the sale before she goes on holiday next month. However, she knows that the apartment block backs on to a street that has a church. Each Sunday morning, church bells are rung, and the area can become quite noisy as people come and go. Should Marissa tell Graham about the church? Which section of the Act relates to this situation? Discuss the legal and ethical issues relating to this scenario. What advice would you give Marissa? Click or tap here to enter text. Case study 3 Rashid has engaged Rita to sell his property. Rita’s brother, Marco, is looking for a house in the area and after viewing the house; she believes that the house is exactly what Marco is looking for. She rings Marco to tell him about the house. Which section of the Act relates to an agent purchasing property/beneficial interest? Click or tap here to enter text. Outline the requirements of the section? Click or tap here to enter text. Do the requirements of this section apply to Rita’s situation? Explain why/why not. Click or tap here to enter text. Are there any exemptions to the section requirements? If yes, what are they? Click or tap here to enter text. What penalties apply for breach of the section? Click or tap here to enter text. What advice would you give Rita in relation to her actions in this matter? Click or tap here to enter text. Case study 4 You need to set the price for a property you have listed for sale by private treaty in all the marketing materials. The owners have advised they want $ 850,000 and have signed an agency agreement to reflect this price. Consider the following situations and issues and, referring to the relevant legislation, explain any legal and/or ethical requirements in relation to property sales. In marketing the price, you, as the agent recommend a price range of Interest over $750,000 to attract more buyer interest. Click or tap here to enter text. A young couple Mark and Caitlyn Web showed interest in the property and have decided they would like to go ahead with their final offer at $ 837,000. You have referred the buyers to your colleague who is a mortgage broker to help them with them finance. As a result of the referral, the mortgage broker pays you a referral fee of 0.03% of the sale price for the business. Click or tap here to enter text. You are approached by a potential buyer who wants to buy the property, tear down the house, build two units and lease them. He offers $750,000 and tells you that if you can get the vendor to accept this price, he will use your agency to manage the properties. What are the possible consequences if you were to agree to the buyer’s proposal? Click or tap here to enter text. You are approached by a potential buyer who makes an offer of $750,000. You believe that the house will sell for more so you do not pass on the offer to the vendors. No other buyers come forward to with an interest to make an offer on the property. Click or tap here to enter text. Case study 5 Mr. Smith signed an agreement with agent Thomas Jones of Your Home Real Estate Pty Ltd and appointed the agency to market his home for sale at 24 Cherrytree Lane, Manly for an agreed listed price of $899,000. At an open home you conducted on the weekend Thomas had several groups attend and asked them to enter their personal details into the open home register which was left on the kitchen bench for prospective buyers to fill in whilst they were viewing the property. During the open home of the property, Thomas advised three different prospective buyers “It’s listed at $899,000, but I’m pretty sure that an offer of $850,000 will be accepted, because the owner needs a quick sale.” After following up with all the buyers on Monday morning he also advised them of another property that he had listed and invited them to attend a private inspection he scheduled for the following afternoon. Discuss the legislative and ethical breaches of this scenario referring to the relevant sections of Acts and regulations for your state/territory and commonwealth legislation. Click or tap here to enter text. Learner Declaration Complete ALL sections.Indicate Y for Yes or N for NoI submit this assessment and certify that:All work submitted has been completed by me (No part has been copied from any other person)Y/NI have referenced and/or acknowledged all sourcesY/NI have kept a copy of my assessmentsY/NWhere necessary, I have attached supporting documents in line with the specific question requirementsY/NWhere required, I have completed any agreements, forms and documents required for this assessment. I understand that partial completion will not be acceptedY/NI understand ASQA has the right to access any of my assessment materials for auditing and monitoring purposesY/NI consent that REAA may use my assessment for internal moderation and validation purposesY/NI understand that if a third party requests my results that REAA will only do so with my written permissionY/NI understand I need to upload this completed assessment to the otrain student portal for marking.Y/NLearner Legal Name (print)Click or tap here to enter text.Learner SignatureDate15/07/2021 You are now required to upload this completed document to the Otrain Learner Portal for Grading.
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