Property Sales Workbook
- Subject Code :
CPPREP4103
Learning Activity Workbook
Property Sales
CPPREP4103 Establish vendor relationships
CPPREP4104 Establish buyer relationships
CPPREP4105 Sell property
Before you start
- All activities must be completed and submitted electronically using the Word Documents and editable pdfs provided to you please do not print out and complete the documents by hand as these will be returned to you for resubmission. Some units may require you to produce a chart/flyer or similar which may require you to create your own document, but these situations will always be clearly explained within the assessment.
- Please note all documents are designed to be completed electronically using Microsoft Word for PC. If you are using an Apple device and/or are using a program other than Microsoft Word for PC, the conversion process will often result in changes to the formatting of the document - it is therefore recommended you use the program "FreeOffice" to complete your documents if you dont have access to Microsoft Word for PC - it's a completely free program which lets you open and edit any Microsoft Office document on a PC or Apple device and it can be downloaded here:https://www.freeoffice.com/en/
- Please do not alter the layout of any of the pages, change or delete questions or type any additional text anywhere except where designated in the answer sections and within the learners declaration section. Note if the formatting of the document is changed or altered from the version we provide to you, you will be required to resubmit a fresh version of the assessment activities in the original format.
- Please submit the answers in your first submissions in standard black font. If you are resubmitting an already marked document, please simply alter your answers in the marked version that the REIT assessor has provided for you, using thered coloured fontfor your changes if it is your first resubmission, andblue coloured fontif it is your second resubmission. This helps our assessors track the changes that you have made between resubmissions.
- Please remember that these activities are designed to test and assess your knowledge and understanding of the training material as you chart a path towards competency in the unit. There is no expectation of a competent mark on the first attempt and the REIT encourages you to complete and submit all questions to the best of your abilities and to utilise the marking and assessing feedback process to guide you towards competency in the unit.
This workbook contains activities for the unit(s) of competency:
CPPREP4103 Establish vendor relationships
CPPREP4104 Establish buyer relationships
CPPREP4105 Sell property
For more information on the units of competency go towww.training.gov.au.
The learning activities workbook has been designed to enable you to gain an understanding of the application of the learning you are undertaking.
Each activity is linked to the information contained in the Learner Guide and is a foundation for the questions in the final assessment. Please follow the instructions from your trainer to complete the activities.
Some of the activities may be done in class and other activities are a reflection of your understanding of the course content and will be done in your own time.
These activities form part of the overall assessment of the unit(s) in this cluster.
Once you have completed the workbook you will need to scan and upload to your learning portal. There are several apps for your mobile phone that will allow you to scan all the pages into one document, (please do not upload individual pages).
If you have any difficulty in answering the questions or need further clarification, please speak with your trainer.
REIT recognises the individual needs of each learner and will provide reasonable adjustment if required.
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Part 1 List 5 prospecting methods that you could use to attract clients to your property agency. Analyse the benefits of each chosen methods and relate each to your target market. Explain how you would track the progress of your prospecting plan Discuss methods for reviewing success of prospecting plan. Part 2 List 3 features and benefits of a property agency that could be attractive to a potential client. Part 3 Explain how the vendors expectations will impact on the sale of a property |
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Prior to planning your listing presentation, you will need to undertake research. 1.Develop a checklist of the research that should be undertaken prior to inspecting and listing the property. 2.Prepare a plan for your listing presentation, include any support documents that you will need. 3.Develop a list of key points that will be covered in the listing presentation e.g.: method of sale, fees and charges, your role, legislative requirements. 4.If the property needed improvement, how would you recommend these improvements to the property owner? |
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Review the belowCase Studyfor James and Grace Smith 15 Market Street Using the vendor profile developed prepare two different approaches to market the property, include: recommendations for presentation method of sale timeframe for sale Click the above icon to open the Case Study |
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1.Part of the property marketing strategy is to promote not only the property but also the property agency profile, how would you achieve this? 2.Buyer enquiry could come from any number of sources including: Open home Phone, website, walk-in or referrals. Choose two of the above and explain how you would respond to the enquiry. |
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As a property agent, you need to ask the right questions, to match buyer preferences and expectations to the property (15 Market Street). You will need to identify wants/needs, the timeframe to buy and tailor your service appropriately. Develop 1 question for each category to determine: Target market Urgent/non urgent buyer Capacity to buy Needs and Wants Click the above icon to open the Case Study |
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1.Develop a checklist that could be used to match buyer and property (unrelated to a case study). This could include: Features and benefits of the property General contract terms and conditions e.g.: cooling off, easements etc. 2.Describe how you would show the property to the potential buyer. 3.How will you manage the communication process to ensure that both vendor and buyer expectations are met? 4.Consider your ethical and legislative responsibilities to both vendor and buyer during the sales process. 5.Explain how you would record details of the property inspections |
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1.Draft two communication plans, one for your vendor, the second for your buyer, include: key milestones, documentation to be kept, methods of contact inspection feedback offers and negotiation after sale contact 2. You are halfway through your 6 week marketing campaign and enquiry has been slow. Your vendor is asking for an update on its progress. Explain areas that could be changed to achieve a better result. |
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1.Discuss the benefits of showing a property at an open house and by appointment. 2.List 5 areas of potential risk. (consider the risk to all parties e.g.: vendor, buyer and property agent) 3.What control measures would you propose for your identified risks? 4.What impact could your identified risks have on you and your property agency brand. |
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1.As a property agent you should be able to deal with all aspects of the negotiation and be prepared for any objections. List 5 objections that may occur and how you would handle them. 2.What is the process for submitting offers from buyer to vendor? 3.Explain areas of negotiation that could facilitate agreement between buyer and vendor when negotiation on price have been exhausted. 4.Outline the process required to confirm offer and acceptance for vendor and buyer. 5.Name at least 4 special clauses that may be required in documentation 6.What happens if the buyer changes their mind and wants to rescind the contract? |
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1.List the documents that need to be prepared prior to a property auction. 2.Outline the purpose of the above documents and any legislative requirements relating to property sale by auction. 3.You realise the settlement date is missing from the contract (conditions of sale), how would you fix this problem? 4.At a property inspection potential buyer has asked questions about building and redevelopment potential for the property. Explain how you will address their question. 5.Explain the process of bidding at an auction, what assistance could you give to potential buyer. |
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When preparing a contract of sale, a property agent must have a sound knowledge of contract law. 1.What essential terms must exist for there to be an enforceable contract? 2.Explain by example what is meant by condition precedent 3.Various classes of persons under law do not have full capacity in all cases to enter into a valid contract on all matters. List these. 4.Explain the difference between an expressed term and an implied term of a contract. 5.There are numerous ways for a contract to be terminated performance is the most common. Briefly explain the terms Performance and Frustration. |
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1.You are to read the belowContract Case Study and Dataand complete the Particulars of Sale (attached) Click the above icon to open the Case Study 2.You are required to draft a special condition re the window shutters and attach this to the contract. 3.Create a statement of account that will be sent to the Vendors solicitor for settlement |
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Click image above to complete Particulars of Sales contract **Note that the contract will need to be saved and submitted separately with your workbook.** |
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1.You have come to a deadlock in your negotiations between seller and buyer. Your buyer cannot pay more, and your seller is reluctant to accept an offer less than the asking price. List some of the areas of negotiation that could break the deadlock. 2.Your vendor has had a set back with their property purchase and may not be able to settle at the set date. Your buyer is an investor. What options could you suggest to facilitate completion of sale. 3.An auction you are conducting has stalled, and the property has not met the reserve price, what are the options for bidder and vendor. |
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Develop a flowchart that shows the progress of a sales file from when it is created to when it is deleted, include. Documents included in sales file Process of updating the information in your database or records system Security and access requirements Timeframes for storage The removal and disposal of the records Use for future prospecting activities |
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Now that you have finished the workbook activities, please read the guide to the submission process on the following pages before proceeding with your submission.
Completing The Learner Declaration
There is a Learner Declaration on the last page of this document which needs to be fully completed before you begin the submission process. The following is a sample form to identify the sections you are required to complete:
You must upload your submission and all related documentation via the assignment submission page on your training hub account this is the same place you would have downloaded your assignment files.
Please ensure you name this documentWorkbook.docxand that it is submitted inWord Document format.
Once you have completed the Learner Declaration and saved your files, go the Submissions section at the bottom of the assignment page on the training hub and follow these steps:
- Scroll down the page and select 'Submit Assignment'
- Type in a subject line that includes your name, for example, 'Jenny Smith Assessment'.It is important that you include a subject line on your post, otherwise your files will not upload successfully.
- Include a message for the marker if you'd like.
- Click Select files to add a file and browse for the file on your computer. Please note your assessment documentsmustbe uploaded as a Word Document. PDF format will only be accepted for editable PDFs that form part of the assessment and/or additional documentation uploads that might be requested in the assessment. Please ensure that any and all additional documents are appropriately named as specified in the assessment or workbook.
- Repeat step 4 for all the files you need to upload.
- Click post
- Scroll up to the top of the page and click Submit Assignment to submit your work. You must remember to click the Submit Assignment button, otherwise the REIT wont receive notification that you have submitted the assessment.
A video demonstrating this process can be viewedherevia YouTube.
Please ensure that all of your files that require assessment are uploaded and grouped in a single post even if you are only asked to amend a single file in your submission, please ensure you upload all files you wish to be assessed grouped in a single post.
Learner Declaration
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Please indicate Yes (Y) or No (N) for all statements and complete ALL sections including your legal name, USI and hand drawn learner signature. |
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I submit this assessment and certify that:Y/N |
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All work submitted has been completed by me and no part has been completed or copied from any other person. |
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I have referenced and/or acknowledged all necessary authors |
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I have kept a copy of my assessments |
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Where necessary, I have attached supporting documents which are clearly identified in line with the specific question(s). |
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I confirm I have completed any additional agreements, forms and documents associated with this assessment. I understand that all assessment activities and documents must be fully completed before they can be assessed. |
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I understand that federal and state agencies have the right to access any of my assessment materials for auditing and monitoring purposes. |
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I consent that REIT may use my de-identified assessment for internal moderation and validation purposes. |
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I understand that if a third party requests my results that REIT will only do so with my written permission. |
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Learner Legal Name |
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Unique Student Identifier (USI) |
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Learner Signature |
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