CPPREP4001-Assessment-Research Project

ASSESSMENT

Research Project
You are to prepare a written project which covers an overview of preparing
for professional practice in real estate. Your written project should have the
headings as shown below. You must ensure that you cover each of the points
under the headings below.

Research Project instructions:

1. You are to prepare a written report which covers an overview of preparing

for professional practice in real estate.

2. Your written project should have the headings as shown below.

3. You must ensure that you cover each of the points under the headings
below as follows:

Estate agency functions and business structure

1. What are the main services offered as part of real estate agency activities?

2. What are the various parties to these services you have described above?
E.g., one of the parties to leasing is a landlord.

3. For the above, who is the party that the agent has the fiduciary relationship
with?

4. What are the various options for business structure for an agency?

CPPREP4001-Assessment-Research Project V2_0123

CPPREP4001-Assessment-Research Project

Legislation and Regulatory authority

1. What is the main legislation that agents operate under in NSW?

2. What is the name of the regulatory body for property services in NSW?

3. Describe the role this body plays in regulating the property industry.

Industry associations

1. Describe 2 (two) different industry bodies or associations or bodies relevant

to the real estate industry and what role they play in the real estate industry.

Agent Rules of Conduct

1. What is the aim of the agent Rules of Conduct?

2. Name the legislation and the section within the legislation, where the
‘General rules of conduct applying to all licensees and registered persons’
are located.

Industry Codes of Practice

1. Go to the REIA principles of conduct- here and explain: -

What is the description of rule no.7?

2. Go to the REINSW website- here...and search for the REINSW Code of ethics
and practice.

- REINSW Code of ethics and practice - here

Note: a copy of the -REINSW Code of ethics and practice - is also provided in
the 'Resources' for this course.

What does Section 2.11 of the Code state?

CPPREP4001-Assessment-Research Project V2_0123

CPPREP4001-Assessment-Research Project

Licensing requirements

1. What are the licensing requirements for the real estate licensee in charge/
person who has effective control of the agency?

You will need to cover eligibility, and qualifications required.

2. What are the licensing requirements for a sales representative?

You will need to cover eligibility, and qualifications required.

3. What are the main responsibilities of a salesperson in an agency?

4. What are the licensing requirements for a property manager?

You will need to cover eligibility, and qualifications required.

5. What are the main responsibilities of a property manager in an agency?

Employment in real estate

1. Describe 2 standard terms and conditions contained in a real estate

employment agreement.

2. Analyse the National Employment Standards and describe 3 rights or

responsibilities of an employer in real estate.

3. Describe 3 rights or responsibilities of employees working in real estate.

4. Provide details of 3 different employment opportunities in the real estate

industry.

Professional development

1. Describe two professional development pathways that you might take

within a real estate career.

2. Carry out research and explain NSW Fair Trading’s requirements for
mandatory continuous professional for real estate agents renewing their
registration or licence. Ensure you cover in your explanation:

-What is the date that the agent must complete their CPD by?

CPPREP4001-Assessment-Research Project V2_0123

CPPREP4001-Assessment-Research Project

-What records can the agent keep as evidence that they have completed
their CPD course?

- How long must the agent keep the records of their completed CPD
courses?

- How are the CPD requirements measured

3. Carry out research on CPD currently available for real estate agents. Think
about what skills you might need and how you could fulfill your mandatory
CPD requirements in the first year after receiving your certificate of working in
real estate. Ensure you answer the following:

-Provide the details of the CPD training you would choose.

- Do you need to complete a number of hours of CPD? If so, how many?

- Do you need to complete a full unit of competency? If so, how many over
what period? And why?

-Why did you choose this particular course/s.

Communication skills

1. Describe 3 different communication strategies that you think would need

to be part of your professional practice with clients when working in the real
estate sector.

2. Describe how you would handle a complaint, including the

communication skills you would use and the agency records you would need
to use/make.

How to submit this assessment?

• You are to complete the project report in a separate document

• Save it in your computer file

• Upload it in the space below 'upload here'.

Before submitting your assessment:

• Check you have covered all the headings in your report.

CPPREP4001-Assessment-Research Project V2_0123