assessment 4103

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TAFE College *

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MISC

Subject

Business

Date

Jun 26, 2024

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docx

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Uploaded by JusticeMule4433

Knowledge Assessment Criteria Unit code, name and release number CPPREP4103 - Establish vendor relationships (1) CPPREP4104 - Establish buyer relationships (1) CPPREP4105 - Sell property (1) Qualification/Course code, name and release number Student details Student number Student name Assessment Declaration This declaration only needs to be completed if you are not submitting your assessment online.  This assessment is my original work and no part of it has been copied from any other source except where due acknowledgement is made.  No part of this assessment has been written for me by any other person except where such collaboration has been authorised by the assessor concerned.  I understand that plagiarism is the presentation of the work, idea or creation of another person as though it is your own. Plagiarism occurs when the origin of the material used is not appropriately cited. No part of this assessment is plagiarised. Student signature and Date Document title: Cl_ClientRelationships_AE_Kn_1of3_LMS Page 1 of 29 Resource ID: TBS_19_01_Cl_ClientRelationships_AE_Kn_1of3_LMS STUDENT NAME:

Version: 20200909 Date created: 20 May 2020 For queries, please contact: Technology and Business Services Skills Point Ultimo © 2020 TAFE NSW, Sydney RTO Provider Number 90003 | CRICOS Provider Code: 00591E This file can be found at: The contents in this document is copyright © TAFE NSW 2020, and should not be reproduced without the permission of the TAFE NSW. Information contained in this document is correct at time of printing: 24 June 2024. For current information please refer to our website or your teacher as appropriate. Document title: Cl_ClientRelationships_AE_Kn_1of3_LMS Page 2 of 29 Resource ID: TBS_19_01_Cl_ClientRelationships_AE_Kn_1of3_LMS STUDENT NAME:

Assessment instructions Table 1 Assessment instructions Assessment details Instructions Assessment overview The objective of this assessment is to assess your knowledge as would be required to establish vendor relationships to support property sales, establish, develop and manage positive relationships with buyers and sell property by methods including private treaty, auction and other negotiations. Assessment Event number 1 of 3 Instructions for this assessment This is a written assessment and it will be assessing you on your knowledge of the unit. This assessment is in one part: 1. Written answer questions The assessment also contains an assessment feedback form. Submission instructions Where possible, complete and submit this assessment online via the TAFE NSW online learning platform. Upload all the required assessment files in the assessment area on the online learning platform. Alternatively, hand all required assessment files to your assessor for marking. Make sure you have added your name to the bottom of each page of the assessment. It is important that you keep a copy of all electronic and hardcopy assessments submitted to TAFE NSW and complete the assessment declaration when you submit the assessment. What do I need to do to achieve a satisfactory result? To achieve a satisfactory result for this assessment all questions must be answered correctly. What do I need to provide? Computer with internet access, and Microsoft Office. Document title: Cl_ClientRelationships_AE_Kn_1of3_LMS Page 3 of 29 Resource ID: TBS_19_01_Cl_ClientRelationships_AE_Kn_1of3_LMS STUDENT NAME:

Assessment details Instructions What the assessor will provide? Access to this assessment and supporting online resources. Due date and time allowed Fully online students should refer to their Training Plan for due dates, other students should refer to the Unit Assessment Guide for due dates. The indicative time to complete this assessment event is 5 hours. Supervision This is an unsupervised assessment. You may access your referenced text, learning notes and other resources. Your assessor may ask for additional evidence to verify the authenticity of your submission and confirm that the assessment task was completed by you. Assessment feedback, review or appeals In accordance with the TAFE NSW policy Manage Assessment Appeals, all students have the right to appeal an assessment decision concerning how the assessment was conducted and the outcome of the assessment. Appeals must be lodged within 14 working days of the formal notification of the result of the assessment. If you would like to request a review of your results or if you have any concerns about your results, contact your teacher or head teacher. If they are unavailable, contact the student administration officer. Appeals are addressed in accordance with Every Student’s Guide to Assessment. Document title: Cl_ClientRelationships_AE_Kn_1of3_LMS Page 4 of 29 Resource ID: TBS_19_01_Cl_ClientRelationships_AE_Kn_1of3_LMS STUDENT NAME:

Part 1: Written answer To complete this part of the assessment, you will be required to answer all the questions to demonstrate your understanding of the processes, the legal requirements and your role as an agent in prospecting, appraising, listing and selling a property. Read the questions carefully. Your answers should be within the minimum number of words but no longer than maximum number of words as specified in each question. 1. Discuss the role of the agent and the agency in listing, selling and marketing property including: (Word count: 800-1000 words)  agency fees  charges and conditions  documents and record keeping  agency practice in relation to marketing and communication The agent and the agency play an important role in listing, selling, and marketing property. The agent acts as the intercessor between the seller and the potential purchasers. They evaluate the propertys market value, propose a listing price, and create advertising strategies to attract buyers. The agency enables the legal and administrative procedures involved in selling property, including drafting contracts, arranging inspections, and negotiating offers. Agents usually charge a commission based on the final sale price of the property. The agency may also charge extra costs for services such as advertising, photography, and staging. The circumstances regarding the duration of the agency agreement, exclusivity, and termination clauses are outlined in the agency contract. Agents are accountable for sustaining accurate records of all transactions, including listing agreements, offers, counteroffers, and closing documents. They ensure obedience with legal requirements and disclosure obligations, including property condition reports and any relevant disclosures about the propertys past. Agents employ several marketing strategies to indorse the property, including online listings, print advertisments, open houses, and networking with other agents and potential buyers. Implying efficient communication is essential throughout the selling process, including providing timely updates to the seller, assigning offers and feedback from buyers, and easing negotiations. Agents must stick to ethical standards and legal guidelines governing advertising and communication, ensuring honesty, transparency, and fair dealing with all parties involved. Generally, the agent and the agencys roles include a wide range of responsibilities aimed at helping the successful sale of the property while keeping professional standards and legal requirements. Effective communication, thorough record-keeping, and planned marketing are key components of their practice. Document title: Cl_ClientRelationships_AE_Kn_1of3_LMS Page 5 of 29 Resource ID: TBS_19_01_Cl_ClientRelationships_AE_Kn_1of3_LMS STUDENT NAME:

2. Complete the table below for evaluating different strategies and methods for attracting property listings Place response in the table below Strategy/method for attracting property listings - Participate in community activities, conferences, and local real estate events to network with other professionals and possible clients. Personally, I believe that's a very fantastic concept. In real estate, connections are crucial. - To grow your network, join organizations. - Social media channels enable simple interaction with possible customers and the dissemination of informative material. Purpose of prospecting and prospecting methods The practice of generating fresh leads and contacts with the intention of listing properties for sale is known as prospecting. It also involves building your reputation and becoming the go-to agent in your community. A new salesperson in the real estate industry must establish themselves in the community. Additionally, students must familiarize themselves with the workplace. They will be able to develop contacts and expand their clientele as a result. Impact to personal and agency branding The impact to personal and agency branding leads to - Customers are more likely to trust and believe brands that Document title: Cl_ClientRelationships_AE_Kn_1of3_LMS Page 6 of 29 Resource ID: TBS_19_01_Cl_ClientRelationships_AE_Kn_1of3_LMS STUDENT NAME:

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