CPP40307 CERTIFICATE  IV IN  PROPERTY SERVICES

ASSESSMENT TASKS

CPP40307

CERTIFICATE  IV IN  PROPERTY SERVICES

(REAL ESTATE)

AGENT ’ S  REPRESENTATIVE

CPPDSM4007A  Identify  legal and ethical requirements  of  property

management  to  complete  agency  work

CP P DS M4 0 0 8 A  Identify  legal and ethical requirements  of  property

sales to complete agency work CPPDS4080A  Work in t h e  re a l  e s t a t e  in d u s t r y

ASSESSMENT QUESTIONS

Assessment Task 1: Short answer questions

Question 1

Describe the agency-principal relationship. What are the agent’s responsibilities in this relationship?

Ans:  Agency-principal relationship

        The investigator acts on behalf of the principal in a principal-agent arrangement and does not  

           have a conflict of interest when carrying out the act. On it’s own behalf  a principal appoints an attorney to act. Let’s

           explain it through examaple where an An investor choosing a portfolio manager or someone hiring a lawyer for legal

           practise .There can be no conflict of interest between the two, which causes a main-agent dilemma if there is one.

                    The partnership of the principal-agent is explicitly articulated in a written contract or inferred through acts.

                Agent’s responsibilities in this relationship

                – Agent is appointed to work under interests of principal to accommodate the required task appropriately.

                – Agent is not allowed to make secret profit.

                – Agent usually manage accounts.

                  – Agent have to follow the instruction and work on it thoroughly and carefully.

Question 2

Define the following roles.

  1. Real estate agent

Ans:  A person who sells building and put buildings on  rent for different customers or clients. Agent duty is to represent  

         the  clients and seller of any property or real estate and also known as realtor.

  • Major work of realtor is to buy and sell property.
  • Along that counseling of clients in terms of market values and interests took place by realtor.
  • Provide deep and analyzed information to client.
  • Agent’s representative:

Ans: Agent’s representative is selected by real estate agent to fulfill his duties. And work under licensed estate agent.

  •  Agent representative can work as project manager but can’t handle business of real estate.
  • Works under the instructions and ideas of real estate agent.
  • Extract out client need and fulfill it.
  • Officer in effective control

      Ans:  Officer in effective works under the agency or real estate com pany and verify that all the agents and representative

                work appropriately and efficiently.

  • Take responsible steps for welfare of company
  • Check that all employees and agents work under law..
  • Analyse and verify work of employees.  .

Question 3

  1. Which legislation describes the key licensing and eligibility requirements for agency staff in your state or territory?

       Ans:  2012 Australian Consumer Law and Fair Trade Act aims to minimise the possibility of violating the law and

                  facing the burden of court action.

  • List the eligibility requirements for estate agents license and agent representative’s license in your state or territory.

      Ans:  Eligibility criteria is explained below:

              –     Candidate should be atleast 18 years old.

                 –      Should completed course under Estate Agents (Education) under the regulation of 2020.

                 –      Should not be found under any offense in last 10 years.

                 –      Should not be iliquified under the administration.

                 –      Shall not be a cause of productive assert against victoria property fund.

                 –      Should not be a part of Guardianship and Administration Act 1986.

                 –      Should  not immune to a statement by  Victorian Civil and Administrative Tribunal.

                 –      Should not be related to any regulatory body at anywhere.

  • Identify and list the legislation relating to the following:
    • anti-discrimination and equal employment opportunity
    • consumer protection and trade practices
    • environmental issues
    • OHS
    • privacy
    • property management.

Ans:        –      Anti-discrimination and equal employment opportunity –  Section 30 of 1984 (SA).

  •  Consumer protection and trade practices –   Competition and Consumer Act 2010.
  •  Environmental issues – The Environment Protection and Biodiversity Conservation (EPBC) Act is Australia’s central piece     of environmental legislation.
  •  OHS  –  WHS Act.
  •  Privacy – Privacy act 1988 (cth).
  •  Property management     – Privacy act 1988 (cth)

List the legislative and industry requirements in your state or territory that regulate the ethical and standard of conduct real estate agents and real estate representatives.

 Ans: Legislative and industry requirements are listed below:

Boarding Houses Regulation 2013 (NSW)
Community Land Development Act 1989 (NSW)
Community Land Development Regulation 2018 (NSW)
Community Land Management Act 1989 (NSW)
Community Land Management Regulation 2018 (NSW)
Competition and Consumer Act 2010 (Cth)
Competition and Consumer Regulations 2010 (Cth)
Conveyancing Act 1919 (NSW)
Conveyancing (General) Regulation 2018 (NSW)
Conveyancing (Sale of Land) Regulation 2017 (NSW)
Corporations Act 2001 (Cth)
Corporations Regulations 2001 (Cth)
Environmental Planning and Assessment Act 1979 (NSW)
Environmental Planning and Assessment Regulation 2000 (NSW)
Fair Trading Amendment (Code of Conduct for Short-term Rental Accommodation Industry) Regulation 2020
Fair Work Act 2009 (Cth)
Fair Work Regulations 2009 (Cth)
Fair Trading Act 1987 (NSW)
Fair Trading Regulation 2019 (NSW)
Land Acquisition (Just Terms Compensation) Act 1991 (NSW)
Privacy Act 1988 (Cth)
Privacy Regulation 2013 (Cth)
Privacy Amendment (Private Sector) Act 2000 (Cth)
Privacy Amendment (Enhancing Privacy Protection) Act 2012 (Cth)
Privacy and Personal Information Protection Regulation 2019
Privacy Code of Practice (General) 2003
Privacy and Personal Information Protection Regulation 2014
Property and Stock Agents Act 2002 No 66
Property and Stock Agents Regulation 2014(NSW)
Real Property Act 1900 (NSW)
Real Property Regulation 2019
Residential Tenancies Act 2010 (NSW)
Residential Tenancies Regulation 2019
Retail Leases Act 1994 (NSW)
Strata Schemes Management Act 2015 (NSW)
Strata Schemes Management Regulation 2016 (NSW)
Strata Schemes Development Regulation 2016 (NSW)
Strata Schemes Development Act 2015 (NSW)
Electronic Transactions Act 2000 (NSW)
Electronic Transactions Regulation 2017 (NSW)
Duties Act 1997 (NSW)
Land Tax Act 1956 (NSW)
Swimming Pool Act 1992 (NSW)
Swimming Pools Regulation 2018 (NSW)
Work Health and Safety Act 2011 (NSW)
Work Health and Safety Regulation 2017 (NSW)
Anti-Discrimination Regulation 2019 (NSW)
Boarding Houses Act 2012 (NSW)

  • Explain the intention of the following legislation:
    • Privacy Act 1988 (Cth)
    • Equal Opportunity Act 1995
    • Australian Consumer Law and Fair Trading Act 2012

Ans:   Privacy Act 1988 (Cth):

 It was enacted to encourage and preserve data privacy and to restrict the processing of personal information by Australian  

 government departments and corporations with an annual revenue of more than $3 million.

           Equal Opportunity Act 1995:

On February 7, 1996, the “People with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995” came into force. The aim of this booklet is to disseminate the rights granted by the Act in a broader manner.Main aim is to detect disability.

         Australian Consumer Law and Fair Trading Act 2012:

The Competition and Consumer Act 2010 (the Act) is a national law that regulates fair trade in Australia and governs how customers, rivals and suppliers must be dealt with by all australian businesses. The Act encourages fair trade between rivals while ensuring that customers are treated fairly.

  • List the legislation that covers property sales in your state or territory.
CommonwealthYour state or territory
Regulation 2017 Conveyancing (Sale of Land) (NSW)   Corporations Act 2001 (Cth) Corporations Regulations 2001 (Cth) Environmental Planning.   Assessment Act 1979 Environmental Planning and Assessment Act 1979 (NSW). Australia
  • Discuss the professional conduct standards that agents are bound by in relation to property sales.

     Ans: – Property and stock agent act come into existence in 2002 , whose objective is to enhace the professional

               conduct in the organization or anywhere.

  • Agents have to check their competency before they are issued a license.
  • Agent should enhance his/her skills related to job as the time changes.
  • It is also a condition of any licence that the applicant is covered in accordance with the provisions stated in the guidelines under a professional indemnity insurance scheme.
  • Along that each agent should fairly and honestly do their duty with all liable knowledge required .

               .

Question 4

What is an ‘Authority to act’?

Ans: Tolerating an activity is a document or record that permits someone else to chip away at your benefit.This is not the same as a Power of Attorney since it’s anything but an authoritative report. In multiple matters, a power to act is just for a single occasion rather than a continuing authority.

 

Question 5

For the following questions, you must refer to the correct section of the relevant Act in your state or territory.

  1. What is licence lending?

Ans: In licence landing some one else who have building licence is iused by another person for construction.

         Where coverance of credit licence is mandatory if anyone is engaged in credit activities. It shows that proper legalization is

         required to accommodate these works.

  • What are the penalties for licence lending?

      Ans: It is unconstitutional and Section 38(8) of the Occupational Licensing Act 2005 imposes a maximum fine of $31,800 for a  

                 licenced individual ($63,600 for a licenced company) who requires another person to use their licence to enter into

                 contracts, to administer or to conduct construction work, to make an application for construction.

  • What is a Vendor’s Statement? To which section of the Act in your state or territory does it relate? What information does it contain?

Ans:  

           In order to make an informed judgement on the purchase of the land, the statute allows the seller to report those

           matters to the buyer. Section 32 of the Sale of Land Act includes the seller declaration of section 32 and must

           reveal any information that could impact the property in question.

          The declaration of a seller, also known as section 32, is a paper that tells prospective buyers certain details about

           the property that should be  known before executing a sales contract. The declaration of a vendor discloses

           details not easily uncovered by examining a house.

  • Explain the following rights and duties of landlords and tenants as defined in the relevant Act in your state or territory. You must identify the relevant section of the Act where required.
    • Quiet enjoyment

Ans: The right to peaceful recreation in Victoria is limited to its common law importance, unlike any other Australian jurisdiction. The residential rental act extends the right to peaceful recreation in all other jurisdictions so that it now provides the right to fair order, security / safety. In respect to promotional photos and videos featuring the belongings of tenants, the question is whether capturing or releasing such pictures without the permission of the occupant violates their right to peaceful enjoyment.

       Section 67 of the Residential Tenancies Act 1997 (Vic) specifies that ‘a landlord shall take all appropriate precautions to ensure that throughout the tenancy arrangement the occupant has quiet enjoyment of the leased property

  • What are the tenant’s responsibilities and duties under sections 59- 64 of the Act?

            Ans: Tenant duties are the commitments that a tenant has to his landlord. A occupant is also expected to  \

                     manage the rental, to ensure that it is kept tidy and free from litter, trash, rodents, and other hazards, and

                     to adequately use and repair the equipment inside it.

  • Explain the rights of entry to the property. What are the obligations for both the landlord or their agent and the tenant?
  • When can property inspections be carried out on a leased property? What conditions must be met prior to the inspection?
  • Which sections of the relevant Act in your state or territory relate to locks and keys? Summarise the regulations.

Question 6

For the following questions, you must refer to the correct section of the relevant Act in your state or territory.

  1. What is commission sharing?
  2. In which circumstances should commission sharing be disclosed?

a)    In which circumstances is disclosure not required?

Question 7

  1. Explain an agent’s liability for breach of contract and negligence.
  2. What penalties may be applied under legislation for breach of contract or negligence?

It is the specialist’s duty to act with due consideration and to adhere to the foremost’s appropriate guidelines. Specialists who act wildly or carelessly in hurting clients are obligated for carelessness and break of agreement (Shachnam, 2010).

7 b

Fine-Aid adds a fine of-11,000 for people and 22 22,000 for organizations. Permit terms

present permit/endorsement terms (e.g., conditions that keep the business from playing out specific obligations).

than this client and should be paid according to client guidelines.

Question 8

What legislation must employers comply with in regards to conditions of employment? Think about Commonwealth legislation and that of your state or territory.

Question 9

  1. What is the purpose of a trust fund?
  2. What are the main legislative controls on trust funds?
  3. Provide three examples of monies that must be kept in trust.

The reason for the trust is to put and keep up property for others with the help of an unbiased outsider.

Assets incorporate givers, recipients and heads.

The individual conceding the trust may determine the conditions for the capacity, assortment or conveyance of the property.

9 b

Trust reserve installment to a trust account

The Property and Exchange Transactions Act 2002 (Act) requires a permit to keep client assets in trust accounts. These assets can’t be utilized for any reason other than this client and should be paid according to client guidelines.

9C Payment or Deposit:

Land Sale of land, structures and related portable resources (counting outside deals) Proficient Sales

A corporate stock that gives investors the option to possess land, structures and related

Question 10

At times you will require specialist advice regarding aspects of your role and dealing with clients. List some of the people who could provide this advice.

Question 11

  1. What is the legislation relating to consumer protection? Briefly describe the intent of the legislation.

11 a.

Australia’s new Consumer Protection Act 1974 supplanted past government, state and provincial shopper insurance laws from the Federal Trade Act and the Business Conduct Act, which came into power on 1 January 2011.

  • What are the main requirements of privacy legislation?

Privacy and Privacy Act 1998 (PPIP Act): NSW public sector agencies use the principle of

confidentiality to appropriately collect, store, use or disclose your personal information to protect your privacy rights in NSW Protect. .

Question 12

  1. Identify and list the opportunities available for continuing professional development.

Ceaseless advancement is a model for evaluating the agreement among Suni and the Unified University calling. Instances of manageable development are proceeding with instruction, support in expert associations, investment in instructive projects, research, expanded efficiency and responsibility and responsibility.

Directors and workers recognize their degree of obligation to proficient turn of events. Every representative should have at any rate one sort of movement indicated in the work program. Proficient advancement may zero in on regions that require “improvement” in past appraisals or might be identified with the new worker’s duties or future vocation objectives.

  • Why is it necessary to continue to undertake training?

Keep awake to date with different principles in a similar region

Individual expert personal growth can be improved by numerous elements, yet not every person in this calling improves at a similar rate. By putting resources into CPD, experts can be believed to follow different experts in the very calling that CPD offers. Individuals from the Association of Chartered Accountants (ACCA) should get in any event 40 CPD units every year, partitioned into 21 evident units and 19 non-certain units.

2. Oversee and extend information and abilities to offer proficient types of assistance.

By putting resources into CPD, you can be sure that your insight and abilities will help you

Question 13

Identify and list Commonwealth legislation and the legislation of your state or territory relating to the areas below. Think about property management and sales in your response.

Anti-discrimination and equal employment opportunity 
Consumer protection, fair trading and trade practices 
Employment and industrial relations 
Financial management 
OHS 
Privacy 

Question 14

Identify a minimum of four risks that may impact on an agency. Outline the strategies that you would recommend to manage each risk.

RiskStrategies
  
  
RiskStrategies
  
  

Question 15

  1. What is property management? What is the relationship between property management and asset management?

The board Asset the executives is the administration and control of the resources of an outsider resource the board organization.

The property supervisor is liable for the everyday tasks of the property, for example, inhabitant the board, lease assortment, and crisis methods.

The proprietor pays the property supervisor one percent of the expense or lease on the property worked by the proprietor.

States In many states, a portion of your liabilities are viewed as land exchanges, so you need to get a permit from the property supervisor as a realtor.

The executives Asset the board is the way toward observing resource execution and

  • What are the roles and responsibilities of property managers?

Proportion.

Perform preventive tests

Property supervisors examine your property consistently and update assessment reports. It permits you to recognize transient fixes and long haul capital costs that ought to be

  • Explain the role and responsibilities of a salesperson in relation to property sales.

Rundown

The vender’s representative records the homes available to be purchased along with the property holder. It as a rule begins with a home advisor. Agents will encourage you on what to do prior to posting and introducing your chances. The vender at that point urges the property holder to finish the necessary desk work, including organization agreements, revelations, and other authoritative archives. As a component of the authority posting, the specialist submits land data to the nearby help for various postings that different

Question 16

  1. List legislative and industry requirements that regulate the ethical and standard of conduct real estate agents and real estate representatives.
  • Explain the intention of the following:
Privacy Act 1988 (Cth) 
Equal opportunity/anti-discrimination legislation in your state/territory 
Consumer law/fair trading legislation in your state/territory 

Question 17

Briefly explain the roles of the following agencies in your state or territory:

Consumer affairs/fair trading 
  Civil and Administrative Tribunal 
  Equal opportunity/human rights/anti- discrimination 
  Residential tenancies bond authority/ board 
  Small Business Commissioner 

Question 18

  1. Explain an agent’s liability for breach of contract and negligence.
  • What penalties may be applied under legislation for breach of contract or negligence?
  • What strategies could you implement in the case of a dispute between a tenant and landlord?

Question 19

List the four types of leases that an agent may be responsible for.

Question 20

  1. Explain the meaning of ‘listing’.

Under the elite rights deal arrangement, the realtor has the selective option to follow up for the dealer and find the purchaser………………………………………………. Therefore, the dealer pays an enormous commission

in light of the fact that the specialist is at present chipping away at the deal and appropriation of land.

  • What methods can you use to prospect properties for listings? (Consider both property management and sales in your response.)

1) Previous discussions with clients – Always start with individuals you definitely know, love and trust. For what reason do you center around individuals you couldn’t say whether couldn’t say whether you need to work or not? Its main goal is to additional improve our relationship and enhance our ex-clients, who are welcome to work with 200 to 250 individuals we as a whole know. Settle on a business decision to a previous client and  ask, “Does everybody realize they go?” It is said that the best time is the point at which you purchase and sell a rundown and it is open. Consider 4 times each year to perceive what befalls your chances and business. Continuously ask when you intend to move and compose your answers.

  • Before listing a property for sale, what information do you need to gather?

1.  c.

  • Posting specialist subtleties. Name the posting specialist. Posting specialist telephone number.

Client data. Username. Client’s telephone number.

Question 21

  1. Describe the three types of leasing and managing authority.
  • What is the purpose of a ‘landlord’s instruction’ form? What information does it contain?

Question 22

How are agent’s fees calculated in regards to leases? What fees can an agent claim?

Question 23

  1. List the statutory and agency leasing documents that are required throughout a residential tenancy.
  • List the standard forms and documents required for selling a property.

Question 24

Explain the requirements of a condition report as described in the relevant Act for your state or territory. What are the penalties for non-compliance with the relevant section?

Question 25

  1. What is the maximum bond payable? Refer to the specific section of the relevant Act for your state or territory and explain any exceptions.
  • Explain the process for receiving, recording and lodging bonds and security deposits.
  • What regulates the establishment and management of trust funds?
  • What financial records are required by the landlord?
  • Who can sign a trust cheque or approve an EFT for a trust account?

Question 26

Refer to the relevant Act in your state or territory regarding property management and answer the following questions.

  1. Who is responsible for maintaining the premises?
  • How should landlords respond to a request for urgent repairs?
  • What is an urgent repair, as defined in the Act for your state or territory?

Question 27

  1. List three ways in which a lease may be terminated.
  • What period of notice must be given to the tenant in the following situations?
    • The owner intends to sell the property with vacant possession
    • The property was sublet without the landlord’s consent
    • Non-payment of rent for 14 days or more
    • The landlord’s daughter is moving into the house.
  • What is the process for serving notices?
  • What statutory and agency documents are required to be completed to terminate a tenancy
  • Under what circumstances can a landlord claim all or part of the bond?

Question 28

Explain the following terms:

  1. Freehold or fee simple
  • Leasehold
  • Stratum title
  • Strata title
  • Sole owner
  • Joint tenants
  • Tenants in common

Question 29

  1. What is a Certificate of Title?
  • What information does a Certificate of Title include?

Question 30

  1. List the different types of methods used for selling property.
  • What factors influence the choice of method for selling?
  • What are the benefits and limitations of selling by auction and by private sale?
AuctionPrivate sale
BenefitsBenefits
LimitationsLimitations

Question 31

  1. What is an authority to sell?
  • Explain the following authorities:
  • What must be included in an authority to sell?

What are the legislative requirements and standards in your state or territory regulating commissions in relation to sale of property?

What is the process for settling the sale of property? You may refer to specific agency procedures or general processes.

Question 34

Refer to the Act for your state or territory that covers the sale of land. Identify the division and sections that relate to the processes for receipt, receipt, recording, banking and release of deposit moneys.

Imagine you are extremely busy and do not have the time to do all your tasks by the allocated deadlines. Describe how you would decide what tasks to delegate to others in your work team.

Why is important to keep lines of communication open with your manager/supervisor at all times?

How would you role model a professional, positive image and contribute effectively to your workplace? Think of four ways.

Question 38

Write down two barriers to communication that you think might happen in the workplace, or you have seen occur in the workplace. For each problem, write down the cause and what you would do to respond to the problem.

Communication problem 1:
CauseComplaints
How to respond to the problem 
Communication problem 2:
Cause 
How to respond to the problem 

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Instructions to Students: You need to implement and review the three (3) resource plans you developed in Assessment 2 for this assessment task. use the scenario provided in Appendix A to complete this assessment task.  You will also need to refer to the Righteous Bean policies and procedures in Appendix

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Righteous Bean policies and procedures

Instructions to Students: You need to develop three (3) resource plans for this assessment task.   For those who do not have access to a workplace at this time, use the scenario provided in Appendix A to complete this assessment task.  You will also need to refer to the Righteous

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