CPPREP4105 Sell Property

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. Give three (3) reasons for why having a well-respected personal and agency brand is so important in real estate
2. In your own words, explain the importance of presentation of the property being offered for sale and what a vendor can do to improve presentation.
3. There are three (3) types of property inspections. In your own words, provide a brief explanation of each method.
   1. private views
   2. open home
   3. virtual tour
      1. In your own words, provide a brief explanation of each method.
      2. Explain how you would disclose any issues with the property that may influence a buyer’s decision.

4. Explain how you would deal with any conflicts or breaking through any deadlocks during the negotiation stage.

5. Why it is important for a salesperson to identify potential security risks in the property inspection process? What would some of those risks be and how do they effect…

1. the vendor?
2. the buyers?
3. the agent?

6. Briefly explain, in your own words, why effective communication throughout all stages of the relationship between the salesperson and client is important. Provide a written example of a conversation you may have with the vendor following negative feedback from the buyer.
7. In your own words, explain the salesperson’s role when negotiating between the buyer and the vendor.
8. Are you able to charge a commission if you have a beneficial interest in the purchase of property, such as where an agent or registered employee buys a property that is listed with the agency? Explain the process you would need to follow.
9. Explain each of the following and the impact each has on property law relating to the sale of property:
   1. definitions of property
   2. easements
   3. covenants
   4. mortgages

10. In your own words, explain the term ‘counter offers’ and how it is used.

11. Explain why it is recommended that the buyer take out building and contents insurance, effective from the date of signing the contract.
12. Finalising settlement can be quite an extensive process and may include the following:
    List at least five (5) steps that the agent may need to undertake.

13. Outline, in your own words, what should be included in a Section 32 Vendor Statement.

14. Explain the cooling-off period in full (see Section 31 of the Sale of Land Act 1962).