res420 assignment 1 task 2 answers

RES420 - John Case Study - Fundamentals of Real Estate Assessment Answer

Assessment Task:

Res420: fundamentals of real estate assessment answer.

Task 1: Recruitment questions

John is hoping to recruit two new salespeople for the team. He has added a page to the agency’s website, titled ‘Come and work in real estate’, which describes the work and invites people to submit questions. The branch manager has asked you to draft brief answers to some of these questions. In each case you need to refer to the relevant section(s) of the Real Estate Agents Act 2008 that apply. (Write 50–75 words per response.) Here are some of the questions John’s received during the past week regarding licensing issues:

1. I am nearly 18 years old. I know you want someone to start work in June, but I don’t turn 18 until October. Would that work?

2. I was convicted of benefit fraud when I was 19. That was 15 years ago, and I haven’t had any problems since then. Will this disqualify me?

3. I was made bankrupt 3 years ago because a customer of my importing business got into financial difficulties and couldn’t pay me. But I’m not a bad person! Will this count against me becoming a salesperson? My bankruptcy was discharged in March last year.

4. I’ve just completed my salesperson’s course. I want to be a salesperson because my parents both work in real estate. But I don’t have any experience yet. Will this disadvantage me in any way?

5. My husband got his licence a couple of years ago and has done a bit of work in real estate but doesn’t enjoy it. Can his licence be transferred into my name?

Task 2: Office quiz

John Canon, the branch manager, runs a monthly training session with the sales team. This month he has set a quiz to check the salespeople’s understanding of the Real Estate Agents Act 2008 and the Real Estate Agents Act (Professional Conduct and Client Care) Rules 2012 (the Code). John drafted some scenarios based on cases from the Complaints Assessment Committee and situations he heard about from other agencies. He asks you to prepare example answers to give to the team at the end of the training session. Read the following client complaints then state:

• the legislation that applies to the situation (name the section(s) and rules that apply), and

• whether each issue is likely to reflect: − misconduct, or − unsatisfactory conduct, or

no further action is required • whether section 72(a) or section 73(a) is relevant.

Complaints:

1. I didn’t fully understand what the agreement form said because I only started learning English 3 years ago. I told the salesperson that I wanted to discuss it with my sister, who has lived here for a long time and is fluent in English, before signing. He told me he couldn’t wait, and I would miss out unless I signed the agreement form immediately.

2. The salesperson gave me a bank account number to pay the deposit into. After I’d paid, I received a phone call from the office administrator, asking me to pay the deposit. I told her I’d done so, and it was only then that we found out that the salesperson had given me his personal bank account details. I’ve now discovered he’s since left the agency. Fortunately, the agency isn’t asking me to pay the deposit a second time.

3. When we were preparing our offer to purchase the lifestyle block, the salesperson told us not to bother getting a LIM report. He said they were too expensive, and that there wouldn’t be any useful information relating to this property. We did get a LIM and found out that the barn doesn’t have a building consent, and much of the land is part of a flood plain.

4. When we listed our house for sale, the salesperson gave us a booklet from the Real Estate Authority that explained everything. Then she made us read and sign a lengthy agency agreement form, asking us detailed questions about the property. She also told us how we could cancel the agency agreement if necessary. She advised us to check with our lawyer before signing any documents. It all seemed a bit excessive. Doesn’t she trust us to make our own decisions?

5. Saturday morning, after a massive argument with my girlfriend of 2 years, I phoned a local real estate agency and had one of their salespeople list my apartment for sale. I’d decided to quit my job and move to Australia. My girlfriend and I made up on Sunday night, and I rang the salesperson early on Monday morning to advise I wanted to cancel the agency agreement. She said I couldn’t do that, because she had already shown a possible buyer through on Sunday.

Task 3: What’s gone wrong? Respond to the following questions by applying the appropriate legislation. (Use up to 150 words for each answer in Task 3.)

1. Stacey, a salesperson at the office, asks you to photocopy 100 flyers that she wants to use for prospecting purposes. You notice that the flyers don’t make any reference to the agency name or the fact that it’s licensed under the Real Estate Agents Act 2008. The only identifying information is the name and contact details of the salesperson herself. What advice would you give her? Include reference to the appropriate section of the Real Estate Agents Act 2008 in your answer.

2. Jason, a salesperson, transferred from an agency in another city to this office 2 months ago. He’s just realised that he forgot to notify the Real Estate Authority of his change of address. What should he do now? Include reference to the appropriate section of the Real Estate Agents Act 2008 in your answer.

3. Joel, a salesperson, wants to help his sister Mary, a single parent with three children, get her first home. He’s recently listed an affordable property that would be very suitable for Mary. The clients are in financial difficulty and want to sell quickly. He’s talking about this with you during a coffee break, saying that Mary still uses the name of her children’s father, so nobody need know that they’re related. Joel says he wants to avoid having to get a registered valuation for the property, because ‘that’s just another expense we don’t need. Instead of paying for that, I’d rather buy Mary some furniture’. What advice would you give to Joel? Include reference to the appropriate section of the Real Estate Agents Act 2008 and the Real Estate Agents (Duties of Licensees) Regulations 2009 in your answer.

Task 4: Complaints process One Saturday Mr Jenkins, a customer you’ve met at the office before, comes into the office in a very upset state. He asks to speak with Cameron, one of the salespeople. You explain that Cameron is attending an auction, accompanied by John, the branch manager. Mr Jenkins tells you that Cameron recently sold him a property.

Mr Jenkins says Cameron misrepresented the property and he has been seriously financially disadvantaged as a result. Mr Jenkins demands to know what your office is going to do about it. How would you explain the complaints process to Mr Jenkins? Refer to the relevant parts of the Code in your explanation.

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RES420 Assessment 2

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Fundamentals of Real Estate

This online course provides you with the knowledge you will require at the outset of your real estate career, including knowledge of licensing, professional conduct and fundamentals of legislation relevant to real estate., availability.

Our distance learning courses are offered throughout the year to help you fit study around your work and life commitments. Courses are offered up to 12 times per year depending on demand and availability of academic staff. Exact start dates are in the course information pages and in our Enrolment dates page:

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Courses are assigned credits depending on how much time and effort is needed to complete their learning outcomes. In general, each credit represents approximately 10 hours of study time.

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Teaching weeks

Teaching weeks is the number of weeks that we teach a course. This differs from the enrolment period, which is based on the course start and end dates.

For example, a 20-week enrolment period will have 16 teaching weeks, followed by four weeks to accommodate marking, any extensions and reassessments, or exams.

The workload estimate given on a course page is calculated like this:

Number of credits x 10, divided by the number of teaching weeks for the course. The hours will be rounded up to nearest whole number.

Please note, this is a guide only. You may need more or less time for study, and you may also need to do more hours during assessment due dates or exams times.

•   Level 4
•   Credits 15
•   EFTS 0.125
• Teaching weeks 16 weeks
• Workload Approximately 10 hours per week
•   Prerequisites Check entry and other requirements under the qualification you are studying

Students who successfully complete this online course will be able to

• Apply the standards of professional conduct expected of real estate licensees to realistic scenarios, identify the duties of licensees regarding unsatisfactory conduct and misconduct and distinguish the steps in the complaints process.
• Apply the requirements for licensing in the real estate industry to realistic scenarios.
• Identify the main duties relating to real estate work as provided in legislation.
• Explain land ownership titles and key property law definitions as they apply to real estate practice.
• Discuss key points of the law relating to ownership (including co-ownership) and transfer of land in New Zealand. 
• Identify relevant points of consumer protection law applicable to real estate practice.

For more information watch the course introduction video below.

This course is 100% internally assessed

No textbooks are required for this course

Computer and internet requirements

To complete this course you will need access to a laptop or desktop computer, reliable broadband internet connection and a data plan able to support online learning such as streaming of videos (including YouTube), downloading content, and writing and submitting online assessments. If you are unsure if your current computer or internet access allows you to complete your online learning with us, please contact us before applying to enrol.

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Before enrolling in this course you need to:

• choose the qualification you will study the course under
• check the order that courses in the qualification should be studied in the Qualification Structure table. This is in the Choose courses and apply tab on the qualification page.

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