crep think

pdf

School

Western Sydney University *

*We aren’t endorsed by this school

Course

200865

Subject

Business

Date

May 1, 2024

Type

pdf

Pages

Uploaded by GrandRoseStarling17

2. Assessment CPPREP4171-Represent buyer in sales process Version 1.0 24 June 2020 Page 6 of 47 DOCUMENT LOCATION : Sharepoint/NSW/CPP41419/CPPREP4171 PROJECT 1 – Prepare Buyer Brief In this Section you will demonstrate your skills and knowledge in regard to:- • establishing buyer needs and preference for type, location and price range of property • determining buyer capacity to buy and their access to finance • explaining to a buyer the role and responsibilities of a buyer’s agent • preparing a buyer brief • preparing and completing an agency agreement with a buyer What you need to do: You are to provide answers to the questions below in the spaces provided What you will need: • Research materials such as books, internet, magazines, workplace documentation etc • Access to legislation via www.austlii.edu.au • Access to your office’s Policies and Procedures and standard forms and letters • Access to a property portal such as www.domain.com.au or www.real estate.com.au When: During your own time What you need to submit: Your answers in the spaces provided or as instructed in the project. Instructions Answer each of the questions below in the space provided. If you quote legislation you are required to give the full name of the Act, its year and the Section you are referring to. a. Establishing buyer needs and preferences for type, location and price range for property i. Report on how you would go about establishing a buyer’s needs and preferences if they approached you to act on their behalf to purchase a property. ASSESSOR USE ONLY S NS

2. Assessment CPPREP4171-Represent buyer in sales process Version 1.0 24 June 2020 Page 7 of 47 DOCUMENT LOCATION : Sharepoint/NSW/CPP41419/CPPREP4171 ii. What is the minimum of information that the agent needs to establish about the prospect on their initial meeting? ASSESSOR USE ONLY S NS b. Determining buyer capacity to buy and their access to finance i. What should a buyer’s agent establish in order to determine a buyer’s capacity to purchase? ASSESSOR USE ONLY S NS ii. If a buyer’s agent discusses financial matters with a buyer what does the Property and Stock Agents Act 2002 require them to do? ASSESSOR USE ONLY S NS

2. Assessment CPPREP4171-Represent buyer in sales process Version 1.0 24 June 2020 Page 8 of 47 DOCUMENT LOCATION : Sharepoint/NSW/CPP41419/CPPREP4171 c. Explaining to a buyer the role and responsibilities of a buyer’s agent (i) list at least 10 services that a buyer’s agent can offer to a potential client ASSESSOR USE ONLY S NS (ii Explain in your own words how you would go about providing information to a prospective client of the services that you provide as a buyer’s agent ASSESSOR USE ONLY S NS

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

2. Assessment CPPREP4171-Represent buyer in sales process Version 1.0 24 June 2020 Page 9 of 47 DOCUMENT LOCATION : Sharepoint/NSW/CPP41419/CPPREP4171 d. Prepare a buyer brief You are to now prepare a buyer brief setting out the information you need to confirm with the buyer before they sign an agency agreement. The brief will include the services that you will provide to the buyer as well as a summary of their needs as you understand them. You will complete the Buyer Brief on the Buyer Details Form attached to this assessment. (You are provided some details including in Project 1e below and you can invent the missing details in order to complete the form.) Details of the buyer and their preferences are: - Scenario: Jason William Withers and Julie Amanda Withers You are a buyer’s agent and have received an email from Jason and Julie Withers, who wants to buy a house in the Penrith area. They want to find a house for the family to live in with: § four bedrooms, the main bedroom with en-suite § a large open living area, including dining area § a family-room § an outdoor entertainment area. § a double garage attached to the house § a reasonably level sunny block of land preferably facing north. Jason and Julie would like a house that is less than ten years old and their budget is a maximum of $950,000. They have three small children aged between 1 year and 5 years so preferably would like to be near to childcare and schools as well as medical services. They are prepared to buy at auction for the right house. They have sold their present home which has a maximum 3-month settlement period but can settle in 6 weeks by giving notice and will be using a deposit bond to cover the deposit, however, they could fund a five percent deposit if required. Bank finance has been approved from MyBank subject to valuation. While they have a maximum budget of $950,000 they would prefer that the purchase price is less than $900,000. They would go to the maximum for a property under 5 years that meets all their requirements. An ATO Clearance Certificate is not required. Julie is available to inspect properties at any time but Jason can only do it after hours or on week ends ASSESSOR USE ONLY S NS e. Prepare and complete agreement with buyer according to legislative requirements You are no to complete a Buyer’s Agent Agency Agreement with Jason and Julie Withers. Their details are:- NAMES: Jason William Withers Julie Amanda Withers ADDRESS: 52 Jones Parade, Blacktown NSW 2148 Email j.j.withers@gmail.com COMMISSION: They have agreed to a commission rate of 1.5% of the purchase price: a termination fee of $3,000 and $150.00 to bid at auction plus to pay all search fees etc. ASSESSOR USE ONLY S NS

crep think

Related Documents