CPPREP4003 Access and Interpret Legislation in Real Estate

ASSESSMENT TASK 2 – Short Answer Questions

Please review the questions below and answer in 200 words / 1-2 paragraphs or less (unless advised otherwise).

1. A real estate employee has misinterpreted legislation. Name two (2) consequences that could be faced as a result.
2. Explain the following headings found when reading Acts and regulations:
   1. Long title
   2. Short title
   3. Commencement
   4. Application
   5. Contents
   6. Definition
   7. Headings
   8. Divisions and subdivisions
   9. Clauses and subclauses
   10. Schedules and appendices

3. Identify and list the names of Commonwealth legislation, and legislation of your state or territory, that relate to the following aspects of operating a real estate agency.
   1. Real estate licencing
   2. Property management (including leases and tenancy agreements)
   3. Consumer protection and Fair Trading
   4. Property sales and auctions
   5. Anti-discrimination and equal employment opportunity
   6. Planning and Zoning
   7. Employment and industrial relations
   8. Occupational Health and Safety
   9. Privacy
   10. Secret commission
   11. Foreign investment
   12. Environment and sustainability

4. Looking at the property legislation for your state or territory, advise the maximum penalty for non-compliance in the following areas. Assume penalties are for individuals.
   1. You must not act as an estate agent unless licensed to do so.
      1. Penalty units
      2. Calculated penalty
   2. You must not enter the rented premises without reasonable excuse.
      1. Penalty units
      2. Calculated penalty
   3. You must pay trust money into a trust account in an authorised financial institution within the time limits specified.
      1. Penalty units
      2. Calculated penalty
   4. You must not fraudulently use trust money or falsify trust accounts.
      1. Penalty units
      2. Calculated penalty

5. Identify five (5) ways an agent can seek help to understand the meaning or interpretation of legislation. Give a specific example of two (2) of these.

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6. List four (4) items, external or internal, that could assist you when trying to interpret the meaning of a piece of legislation.
7. The Plain English Manual suggests that law-makers draft legislation in simple language. Why is it important to draft simply?
8. Legislation has main components. Explain the following components:
   1. Acts
   2. Regulations
   3. Amendments
   4. Mandatory codes of conduct
   5. Schedules
   6. Appendices

9. Explain what the interrelationship between various pieces of legislation is.
10. Explain the application of the following expressions in legislation:
    1. And/or
    2. Gender
    3. Hierarchy
    4. Includes
    5. May
    6. Should
    7. Must

11. Explain the following statutory reading rules:
    1. context
    2. literal
    3. mischief
    4. golden
    5. purposive approach
    6. express mention of one thing to the exclusion of another
    7. words interpreted through their connection with other words
    8. words with the same meaning

12. Look at the relevant property industry legislation and identify the sections that deal with the following:
    1. trust account deposits form
    2. form of rental agreements
    3. knowledge of the law

13. Identify which sections of the Residential Tenancies Act 1987 relate specifically to the following:

1. rent increases
2. non-payment of rent
3. reimbursement

14. What role does Consumer Affairs Victoria play in upholding legislation relating to property sales and property management?
15. Identify ways you can access up to date information on legislation and changes to legislation.
    List three (3) regulatory/industry bodies you might subscribe to, to stay updated.
16. From time-to-time, legislation that impacts real estate agency operation changes.
    Consider how you would handle changes in an agency and respond to the following:

     

    1. What processes would you undertake to be aware of legislation changes?
    2. Once a change to legislation is established to have impact on the real estate industry, how would you keep a track of the changes and impact?
    3. Suggest a compliance strategy to ensure an agency addresses the requirements of legislation. Discuss the following:
       1. the people involved and how the strategy will assist them and the agency
       2. elements of a good compliance strategy
    4. What records would you recommend are kept and updated to reflect legislation requirements and change

17. What is the definition of ‘contract law’? Provide two (2) examples of contracts used in real estate.

18. List the elements required to make a legal and binding contract.
19. In your own words, explain what a ‘fiduciary relationship’ is, and which body of law governs this relationship.
20. Effective communication throughout all stages between a real estate agent and their client is important. Provide details of your communication strategies for responding to client’s complaints.