Assessment Task 2: Research ProjectlefttopTask summary To complete this assessment, you will research information about various aspects of the real
Assessment Task 2: Research ProjectlefttopTask summary To complete this assessment, you will research information about various aspects of the real estate sector and prepare a report based on what you find out. The instructions below will explain the specific information that must be included in your report. You can discuss your report with your trainer and you can seek advice and guidance from them about what to include and the format and presentation of your report. You may be able to prepare a report using one of a number of different formats depending on your learning situation and personal requirements.
lefttopResources and equipment required Access to your learning materials
Internet access
Access to a range of websites related to real estate, including legislation and codes of practice
Access to information about specific roles within a real estate workplace, including the role of the real estate licensee in charge or person who has effective control of the office and others
Access to Microsoft Word (or a similar program)
lefttopWhere and when this task will be completed The research can be conducted during class sessions or out of class time. The report can be written during class time or out of class and provided to the trainer for assessment and feedback.
lefttopWhat happens if you get something wrong If your assessor marks any of your answers as incorrect or insufficient, they will make arrangements with you for resubmission. Your assessor may ask you some questions verbally to check your understanding, or you may need to provide new written responses to the questions that were answered incorrectly. Your assessor will give you a due date by which this must be provided.
lefttopTask instructions Your report must include the following and should be prepared as a print or digital file, depending on the requirements of your trainer. You can write your report as a print document or as a digital file. Ensure your trainer can access and read the report, and that you retain a back up copy for your records.
Your report must include the following sections, but you can talk to your trainer about variations that might work best for you. For example, you could present your research project as a poster or give a brief talk as part of the project.
Cover Page
A cover page which has your full name, unit name and code, and the name of your assessor (if required).
Section 1: About the Real estate Agency
What is the structure of a real estate agency and its people?
Create a table to explain the structure and staffing of a real estate agency and the roles of the people within it. Set your table up like this:
Title Role description Responsibilities Licence requirements Regulated role?
Yes or NoReal estate agency licensee in charge/person in effective control Real estate agent Office receptionist/ administration worker Interview a person who works as an agency principal/licensee in charge/agent in effective control and ask them to describe their responsibilities and activities in their daily work practices. Based on the interview, write a tip sheet of best practice ideas for succeeding in the agency principal role.
Identify and explain a suitable business structure for a real estate agency. Conduct a phone interview, online chat or use online resources to research and give an example of this structure from your state or territory. Then, write a brief summary about something you have learnt from your research.
What are three things that a real estate agency business structure must include?
What are the functions of the real estate agency? Identify and explain the functions of a real estate agency.
Section 2: Real Estate Framework
Who is the regulator for real estate in your state or territory? Describe what the regulator does in one paragraph or a dot point list and provide a link or reference to the most up to date information about the scope and function of the regulator in relation to real estate practice in your state or territory.
Who is eligible to hold a real estate licence in your state or territory? Provide a screenshot or link to the source of your information.
Section 3 Working in Real Estate
Go online. Locate information about the licence requirements for each of these real estate tasks. Identify the person who is able to perform these tasks in your state or territory.
New South Wales:
Negotiating with a person to enter into a residential sales transaction or contract:
Class 1 Agent in Real Estate Sales and Leasing
Class 2 Agent in Real Estate Sales and Leasing
Assistant Agent in Real Estate Certificate holder
Class 1 Agent in Real Estate Business Agent
Withdrawing money from a trust account:
Class 1 Agent in Real Estate Sales and Leasing
Class 2 Agent in Real Estate Sales and Leasing
Assistant Agent in Real Estate Certificate holder
Class 1 Agent in Real Estate Business Agent
Selling a business or professional practice:
Class 1 Agent in Real Estate Sales and Leasing
Class 1 Agent in Real Estate On-site Residential Property Management
Assistant Agent in Real Estate Certificate holder
Class 1 Agent in Real Estate Business Agent
Giving possession of residential premises under a lease:
Class 1 Agent in Real Estate On-site Residential Property Management
Class 2 Agent in Real Estate Sales and Leasing
Assistant Agent in Real Estate Certificate holder
Class 1 Agent in Real Estate Business Agent
Inspecting a residential property:
Class 1 Agent in Real Estate On-site Residential Property Management
Class 2 Agent in Real Estate Sales and Leasing
Assistant Agent in Real Estate Certificate holder
Class 1 Agent in Real Estate Business Agent
Queensland:
Auction a property:
Licensed real estate agent (holding a licence)
Real estate salesperson (holding a registration certificate)
Licensed auctioneer
Manage the units in a complex on behalf of a body corporate:
Resident letting agent licence
Real estate salesperson (holding a registration certificate)
Licensed auctioneer
Lease out a business:
Real estate agent (business letting)
Licensed auctioneer
Real estate assistant
Victoria:
Negotiating and finalising a contract of sale for a residential property:
Real estate agent
Agents representative
Officer in effective control
Managing the principal office of a real estate agency which is part of a corporation:
Agents assistant
Principal agent
Officer in effective control
Managing the principal office of a real estate agency which is part of a partnership:
Real estate agent
Principal agent
Officer in effective control
Verify statements from trust account:
Any signatory to the account
Principal agent
Agents representative
ACT:
Can employ sales people:
Real estate agent
Reception staff
Conditional real estate agent
Collecting payments under a lease of rural land:
Conditional real estate agent
Stock and station agent
Real estate agent
Find three real estate jobs which are currently advertised in print or online. Show the details of each advertisement to your assessor.
For each advertised position, write a checklist which describes at least three of the terms and conditions (such as permanent, casual, retainer payment, etc) which apply.
Imagine you are working in one of these positions. Find details of at least two different and relevant professional development opportunities which could be useful to continue to build your skills and knowledge. Include information about how these opportunities would help you continue to learn over time.
Use tables like the ones below to complete two flow charts of possible professional development pathways for a person who wants to build their skills and qualifications in the industry. Choose two different areas of interest for you which are relevant to your state or territory.
State or territory:
Career goal Qualifications What will I be able to do?
Early career goal:
Mid career goal:
Late career goal:
State or territory:
Career goal Qualifications What will I be able to do?
Early career goal:
Mid career goal:
Late career goal:
Interview two people who are currently working in an area of real estate practice that interests you. Develop questions about the professional pathways that they have used in their career, and then record or make interview notes based on their answers.
Section 4 Communication Strategies
Imagine you are working with a client, such as a vendor or potential buyer. Complete a table like the one below to explain these three communication strategies that you could use with parties to a real estate transaction or interaction. Give an example of a situation where you could use each strategy effectively.
Communication strategy Your explanation An example where you could use this strategy
Online/remote communication
Nonverbal communication Active listening
For each of these situations, identify the communication strategy being used and explain how effective you think it will be:
Jonti ignores a customer who is waiting, clearly annoyed, at the reception counter of the real estate office with a complaint form in their hand. Jonti does not look at the customer and turns her body away from them. She continues with her current phone call, taking her time in wrapping up the call before finally acknowledging that the customer is waiting to make a complaint.
Paul paraphrases a complaint made by a customer, using similar words to their own. He asks them to repeat some parts of the complaint and he takes notes as they are speaking.
Maxine gives a complaints policy document to a customer and reads it out to them. She gives them her card and highlights her mobile number. She writes a date on the back of the card and tells the customer she will respond to them by this date.
Interview two people who are currently working in an area of real estate practice that interests you. Develop questions about the communication strategies they find most effective in their area of work, and then record or make interview notes based on their answers.
1905top00Submission requirements You must submit a research report which includes all sections, as well as any required documentation needed as evidence of interviews (including name and date of people who have been interviewed)
