CPPREP4104 Establish Buyer Relationships

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. In your own words, provide a detailed description on how you will establish rapport with your buyer.
2. List skills and services you would use when promoting yourself and your real estate agency.
3. An agent will need to develop databases of information to assist in matching buyers to suitable properties. What information should be collected and recorded:
   1. about the buyer
   2. about properties
   3. how you are going to gather information about the properties that may meet a buyer’s requirements

4. Clarifying buyer preferences is necessary and needs to be accurate.
   1. Why is it important to screen potential buyers?
   2. What questions might you ask? Give five (5) examples.

5. Once an agent has collected data from a buyer, they need to match their requirements to property and develop a report to present. What information should be included in this report?

6. Explain the purpose and value to a buyer of property inspections.
7. In your own words, outline how you would provide a property report to a vendor based on buyer feedback and what would be included in the report.

8. Negotiating is a large part of the role of a real estate agent. Answer the questions below relating to the negotiation process when an offer has been made by the buyer.
   1. An agent must act in the best intertest of which party?
   2. During the negotiation stage is when disputes are most likely to arise. How should agents act?
   3. There are several strategies that will assist in the negotiation stage. Explain each of the following:
      1. effective negotiation techniques
      2. dealing with conflict/deadlock
      3. closing the purchase

1. What is the agent’s responsibility when negotiating price?
2. Explain the process of counter offers.

9. Explain the appropriate legislation and ethical practices covering the agent/buyer relationship, in the following areas:
   1. disclosures
   2. privacy
   3. conflict of interest
   4. complaint handling

10. List six (6) methods by which a buyer may enquire about a property with an agent. Choose two (2) of the six (6) methods and explain how you would handle the enquiry.