Unit 4- Assignment 1

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School

TAFE NSW - Sydney Institute *

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Course

CPP41419

Subject

Management

Date

Jan 9, 2024

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docx

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● Assessment Conditions: To be deemed competent in this unit you will need to be able to demonstrate your skills and knowledge by undertaking the following assessment tasks:- • Demonstrate that you can explain real estate agency functions and business structure, • demonstrate that you can interpret professional practice guidelines, • can explain employment opportunities in real estate • understand the required communication skills needed to work in real estate, and • identify professional development pathways available to you within real estate To complete this assessment, you will need access to legislation on the internet and, if you are working in a real estate office, access your agency’s Policies and Procedures. If you are not working in an office, you may access the resources contained in the Learning Management System. These resources include: - • Regulator and licensing requirements for NSW which are summarized in the Learners guide and also available from www.fairtrading.nsw.gov.au. • Qualification and professional development requirements for real estate roles which are summarized in the Learners Guide and also available from www.fairtrading.nsw.gov.au. • Real estate employment terms and conditions which are summarized in the Learners Guide and also available from www.fairwork.gov.au • Real estate professional practice codes of conduct which are summarized in the Learners Guide and also found in the Rules of Conduct in the Property and Stock Agents Regulation 2014. You will demonstrate competence by undertaking the projects and answering the questions contained in thefollowing assessment. INSTRUCTIONS TO STUDENT Overview Prior to undertaking this assessment, you are to have completed reading all training material. Once you have completed undertaking that, read all assessment instructions carefully before attempting the assessment. If you have any questions, or do not fully understand the instructions please consult with your allocated trainer/assessor. It is important that you understand and adhere to the terms and conditions, and fully address each assessment task. If any assessment task is not fully addressed, then your assessment will be returned to you for resubmission. Your trainer/assessor will remain available to support you throughout the assessment process. Written Work Assessment tasks are used to measure your understanding and underpinning skills and knowledge of the overall unit of competency. When undertaking any written tasks please ensure that you address the following: - o Address each question including all sub points o Demonstrate that you have researched the topic thoroughly o Cover the topic in a logical, structured manner o Your work is well presented, well referenced and checked for spelling and grammar o If you are supplying separate documents that they include your full name, USI, and assessment task number on each and every page. Active Participation It is a condition of your enrolment that you actively participate in all your studies and that includes completing all assessment tasks on time. Plagiarism Plagiarism is taking and using someone else’s thoughts, writings or inventions and representing them as your own. Plagiarism is a serious act and may result in a learner’s exclusion from the course. When you have any doubts about including the work of other authors in your assessment, either consult your trainer/assessor or include full details in your assessment acknowledging the other persons work and where it came from. Eg you may source material from NSW Fair Trading’s web site in undertaking a task. Not in brackets after the quotation (Source. www.fairtarding.nsw.gov.au and the page it came from. The following list outlines some of the activities for which a learner can be accused of plagiarism: - o Presenting any work by another individual as their own work even if it is unintentional o Handing in assessments markedly similar or copied from another learner o Presenting the work of another individual or group as their own work o Handing in assessments without the adequate acknowledgement of sources used, including assessments taken totally or in part from the internet If it is identified that you have plagiarised within your assessment, then a meeting will be organised to discuss the matter further with you, and further action may be taken accordingly. Collusion Collusion is the presentation by a learner of an assignment or assessment task as their own that is, in fact the result or in part of unauthorised collaboration with another person or persons. Collusion involves the co-operation of two or more learners in plagiarism or other forms of academic misconduct and, as such, both parties are subject to

disciplinary action. Collusion or copying from other students is not permitted and will result in a “0” grade and “NYC”. Assessment Outcomes There are only two outcomes for all assessments tasks that you submit. They are: S = Satisfactory or NS = Not Satisfactory i.e. requires more training and or experience and further assessment. Once a student has completed all assessment tasks for a unit of competency they will be marked either “Competent” ( C ), or “Not Yet Competent” (NYC) If you are marked NYC you will be provided with feedback from your assessor and will be given another chance to re-submit your assessment tasks. If after two attempts to gain competency you are still marked “NYC” you will be required to re-enrol in the unit of competency. Additional Evidence If we, at our sole discretion, determine that we require additional or alternative information/evidence in order to determine competency, you must provide us with such information/evidence, subject to privacy and confidentiality issues. We retail this right at any time, including after submission of your assessment material. Confidentiality We will treat anything, including information about your work, workplace, employer, or any personal information included in any assessment material with strict confidence, according to law and our Privacy Policy. While we may request you to provide information or details relating to your work it is your responsibility for obtaining necessary consents and ensuring privacy rights and confidentiality obligations are not breached by you in supplying us with such information. If you are supplying documents that includes information that would breach the Privacy Principles, you may redact that information. Student Declaration: I declare that a. the assessment submitted by me is all my own work, b. that I have not copied from another person’s work with the exception of where I have listed the referenced documents or work and c. that no part of this assessment has been written for me by another person. In ticking I agree below. I acknowledges that I understand the assessment process and my rights to appeal the decisions made in an assessment. ● A: ○ 1. I Agree 2 ● Q: Project 1 – Marketing and Communication In this section students will demonstrate their skills and knowledge in relation to: • Identifying and analysing the intent, purpose and relationship between marketing and communicationchannels • Explaining the role of marketing and communication in client and community engagement. • Identifying and explaining ethical practice considerations in marketing and communication. • Interpreting the role of marketing and communication in client, customer and community engagement. a. The purpose and relationship of marketing and communication i. Real Estate Services What are the main services that are provided by the following departments in a real estate office: • Sales • Property Management • Leasing • Auction • Buyers Agent • Stock and station agent • Business broking ii. Discuss the intent, purpose and relationship between marketing and communication techniques. In you answer you need to look at the basis of the client/agent relationship and also the relationship with customers ● A: i. Sales : The area of real estate that covers the sale of real property including residential property, commercial property, rural property, retail property and the sale of business. It includes properties under strata title. It also includes the sale of shares in companies whose sole asset is a real property Property management: The management of a property on behalf of the owner. For example,

the leasing of space, collection of rent, selection of tenants and generally the overall maintaining and managing of real estate properties for clients. Leasing: A document where the lesser conveys to the Lesee occupation of the property in return for a payment or series of payments for the right to exclusively use the property for an agreed period of time on agreed terms and conditions . Auction: A person who is licensed to sell, or offer for sale, Real Estate where persons become purchasers by competition, being the highest bidders Buyers agent: Real Estate agent whose license is subjected to a condition that restricts the holder to acting as a Real Estate agent for a prospective purchaser of land Stock and station agent: They are certified to broker transactions that involve livestock, rural property and agricultural products on behalf of their clients. Business broking: Is the selling, buying or exchanging or otherwise dealing with all disposing of business or professional practices or any share of interest in or concerning or the goodwill of or any stocks connected with businesses or professional practices , b. negotiating for the sale, purchase or exchange or any other dealing with or disposition of businesses or professional practices or any share or interest in or concerning or the Goodwill of or any stocks connected with businesses or professional practices. II. Marketing communications is all the avenues and means a business uses to communicate with the market at large and includes advertising, promotions, sales, branding and online promotion. The process allows the public to know or understand a brand. Successful branding involves targeting audience who appreciate the organisations marketing program. One of the goals of marketing communication is to persuade the community to use the services of an agency by building a perception that the agency can meet a persons real estate needs. To do this the aim of the marketing is to get the community trust. The client – agency relationship When vendors sell property, or landlord seek tenants, they are often giving the agency access to their most valuable personal asset. In many cases, the clients relationship with the property is not simply a financial one. Often there will be an emotional attachment as well. Therefore, the main ingredient for a successful client agency relationship is a respect and trust . Vendors and landlords put significant trust in the agency when they hand over the keys to their property and provide the agency with personal information. They trust that the agency and its staff will behave:- - In a responsible and ethical manner - That they will act in the best interests of the vendor/landlord at all time, subject to law and - Do their utmost to achieve the best possible outcome for them Clients believe and expect that the agency will do everything it says it will do and trust it to respect their and their tenants home and privacy. Clients choice of agency is a result of respect for the agencies reputation, the way the agency relates to its clients and the results it has achieved. The customers : Customers (buyers, tenants, community at large) of the agency also have expectations. They expect that when dealing with an agent the agent will: - Behave in a responsible and ethical manner - Be truthful in all their dealings - Not harass or coerce - treat them with a duty of care

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3 ● Q: Project 1 – Marketing and Communication b. Role of Marketing and Communication in client and community engagement Discuss how marketing and communicating to the community leads to agency business. In your answer you need to cover the different forms of marketing and communication that an agency or agent can use. ● A: Customers and clients that receive quality information are likely to hold the agency in high regard and recommend the agency to others thinking of buying, selling or renting. Agents who are dishonest or unethical are soon targeted by the government authorities, if they receive numerous consumer complaints. In addition, such operators soon obtain a bad name resulting in negative impact on their business. Communication in real estate industry is conducted by: - Face to face interviews - conversations -telephone -email - social media - other forms of written communiaction. List of the various forms of face-to-face or telephone communication activities used in a Real Estate transaction for a property sale or renting and managing a property are: - Doorknocking property owners for a potential listing - Following up a letterbox drop by phone to property owners - Contacting by phone potential buyers who have visited an open for inspection - Answering a personal or telephone enquiry from a potential buyer or seller - Answering a personal or telephone enquiry from a potential tenant - Conducting an appraisal of the property to establish a potential selling price or potential rent - Conducting a listing presentation to obtain a listing from a seller - Conducting an inspection of property with a potential buyer - Conducting an interview with a potential tenant - Negotiating the sale of a property between the buyer and the seller - Conducting a management presentation to update a property management 4 ● Q: Project 1 – Marketing and Communication c. Ethical conduct in communication and marketing Discuss what you think are the key ethical principles and values that the community expect from agents. In your answer explain what 5 easy steps you could use to ensure your marketing was ethical. ● A: Agents will be confronted with ethically challenged challenging issues which can turn a normally straightforward business decision into a very complicated one – for which the wrong choice can have serious consequences for both the agent and the agency. Making poor decision to an ethical issue can potentially be damaging to the agency and may result in costly legal action for the agency and the agent. Ethical behaviour is crucial to the way that a

person and a business are viewed by the wider community. Five easy steps can be used as a guide for decision-making in a real estate situation. These steps can also transfer to other businesses and other aspect of life 1. Stop: When faced with a decision, consider the situation first. Never rush into the decision because of the lack of time, overwork, stress or any other pressures. If you do that will be the time you make them the wrong decision. Ensure that any analysis is made in a calm atmosphere not on the run. 2. Think: Always think ahead before making the decision. Ask yourself is the situation contentious? Are there problems that could arise? Consider every aspect of the situation and make sure that there is enough information to make an informed and good decision. Decide on the ultimate goal required. 3. Options: Consider all the possible options and consequences of those options and write them down. Will the effect of the consequences be positive or negative? Decide on a set of actions for each options that will accomplish the final goal. Speak with other people in the business to get a different perspective. 4. Rules: Check the rules, refer to the relevant legislation, regulations and codes of conduct. Many dilemmas can be sorted out by guidelines and rules . 5. Make a choice 6. Select the best possible solution to the issue. If the choice is not easy to make, there are a number of actions that could be taken - Speak with colleagues or others experienced in this area - Consider the matter from a clients point of view - Look forward: is this a choice you would be proud of in a years time - Try the Mums test, what would you do if the other person was your mother. 5 ● Q: Project 1 – Marketing and Communication d. Interpreting the Role of marketing i. To make marketing and communication with the community effective explain what you need to do before developing a marketing campaign. ii. What are the difference in communication techniques between cultures that agents should be aware of? ● A: i. To make marketing and communication with the community effective we need to do the following before developing a marketing campaign: - what are we going to market? - who we are going to market to? - how we are going to market? - where are we going to market? - what are the results we want from the marketing? ii. Difference in communication techniques between cultures that agents should be aware of are: Variations in eye contact: In traditional Australian culture eye contact is seen as important. Good eye contact is seen to display confidence and honesty. In other cultures, direct eye contact with the superior or someone in authority is seen to show or indicate disrespect. It may also be seen disrespectful between genders. Tone of voice: A person's age are the relationship that exist between those communicating will influence the tone that maybe used by the different parties. For example, in some

cultures yelling is not seen as disrespectful, and in some cases by be the acceptable ways of negotiation. Yelling does not always indicate anger or in some cases the yelling indicates anger with the issue not the person. Proximity of person: Social distance, or personal space, that is deemed appropriate varies both across and within cultural groups. The ages of those involved, familiarity and the purpose of communication will all influence what is acceptable or not acceptable. One cannot generalise and agents should be guided by non-verbal clues. If a person moves away from you, respect their space and ask questions to check interpretation. Touching: It is important to gather information on the appropriateness of touching. For example, in some cultures it is inappropriate to use the left-hand for offering or receiving things, handshaking or taking food. In other cultures, the teaching of the head is considered inappropriate and that is sacred as that is where the soul resides. In other cultures, the pointing of the feet towards another person is seen as an insult, while touching food with the feet is considered unacceptable. The interpretation of silence: Silence can arise in conversations or negotiations and there are number of possible interpretations of the silence. These can include: -Not wanting the assistance or intervention being offered -Lack of difficulty in understanding the language or the message been conveyed -Being absorbed in one's own thoughts or emotions -Not agreeing with what is being discussed -Different values and priorities - Being offended by the communication - Not knowing how to respond - Feeling that the questions are intrusive - Politeness and respect for the speaker, regardless of whether the listener agrees or disagrees.

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Unit 4- Assignment 1

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