REAA - CPPREP4001 - Work in The Real Estate Industry Report v1.9

CPPREP4001 - Prepare for professional practice in real estate (Release 1)
Work in the Real Estate Industry Report
© Real Estate Academy Australia 1 | Page Version 1.9 – August 2022

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What you need to do:
For this assessment task you will undertake research and report on various aspects of
working in the real estate industry. A template has been provided to you to use to
structure your report to cover all the required information.
You are required to answer all questions correctly. If correct, you will see ‘Satisfactory’ or if
incorrect you will see ‘Not Satisfactory’ in your grades section of your learner portal next to
the assessment name. The assessor will provide feedback and a Record of Results in the
assessment task once graded. You will be required to resubmit your work for any ‘Not
Satisfactory’ assessment tasks.
What you will need:
You will need to research information about real estate agencies to assist with your
responses for this task.
Use the learner material provided in your online student portal as well as research
materials such as books, internet, magazines, workplace documentation etc. to assist you
in gaining the knowledge required to answer the questions. Remember that the
assessment is completely self-paced and open book, so you can use whatever resources
you have to answer the questions.
What you need to submit:
Your completed report.
How to Submit your Assessment:

Upload your completed document into the “CPPREP4001 – Work in the Real Estate
Industry Report” Online Assessment in your learner portal. You can drag and drop the file
into the window or use the add file icon in the top left of the submission window and select
the file your wish to upload by using the browse/choose file option.
Click on finish attempt to submit it for grading.

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1. Real estate agency structure and personnel

You must address legislative liabilities and responsibilities (refer to appropriate sections of
the relevant Act for your state or territory) to answer the following;
1.1 Identify the various business ownership options

- Sole Trader
- Partnership
- Company
- Trust
1.2 Identify the services offered by real estate agencies
1. Residential sales
2. Residential property
management
3. Holiday Letting
4. Commercial leasing/property
management
5. Commercial sales
6. Industrial leasing/property
management
7. Industrial sales
8. Home, unit or land project
marketing
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9. Buyer’s agent
10.Rural sales (stock & station)
11. Business sales
12.Project management
13.Retail leasing/management
14.Strata management
15.Community management
16.On-site residential
management
17.Valuations
management
3. Holiday Letting
management
5. Commercial sales
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management
7. Industrial sales
marketing
9. Buyer’s agent
11. Business sales
management
17.Valuations
Residential sales
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management
3. Holiday Letting
management
5. Commercial sales
management
7. Industrial sales
marketing
9. Buyer’s agent
11. Business sales
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management
17.Valuations
Residential sales
management
3. Holiday Letting
management
5. Commercial sales
management
7. Industrial sales
marketing
9. Buyer’s agent
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11. Business sales

management
17.Valuations
Residential sales
management
3. Holiday Letting
management
5. Commercial sales
management
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7. Industrial sales
marketing
9. Buyer’s agent
11. Business sales
management
17.Valuations
- Residential sales
- Residential property management
- Holiday letting
- Commercial leasing/property management
- Commercial sales
- Industrial leasing
- Industrial sales
- Home, unit or land project marketing
- Buyers agents

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- Rural sales
- Business sales
- Project management
- Retail leasing
- Strata management
- Community management
- On-site residential management
- Valuations
management
3. Holiday Letting
management
5. Commercial sales
management
7. Industrial sales
marketing
9. Buyer’s agent
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11. Business sales
management
17.Valuation
1.3 Provide an outline of a typical organisational structure for a real estate agency.
Independent agencies have control over every business aspect of their business. These include
schedules, accounting, marketing, training and is subject to all other activities associated with
operating a real estate business.
Franchisee industries are typically in agreement or have a license between two parties. The first
party, (the franchisee) is given the rights to market a product or service using the trademark of
the other party, the franchisor.
1.4 Provide an overview of agency staff roles and responsibilities including administration,
agents and agent’s representatives and management.
Sales:
- Source and obtain new sales listings
- Provide property and market appraisals
- Selling properties
- Marketing properties

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- Coordinate marketing activities

- Inspecting properties for sale
- Negotiation processes
- Organising, overseeing and presenting of contracts
- Settlement processes
Property Management:
- Source and obtain new rental listings
- Appraising rental properties
- Collecting and monitoring rental monies and accounting to Landlords
- Organising and overseeing of maintenance
- Leasing property
- Property Inspections
- Terminate tenancies if necessary
- Facilitate dispute resolution and attend tribunals
Administration:
- Completing documentation
- Preparation of advertising
- Uploading property
- Taking calls and enquiries
- Processing applications
1.5 Identify and explain the agency-principal relationship.

Agents must comply with their clients’ instructions unless it is unlawful or unreasonable to do so.
As well as ensuring they are following legislation when dealing with money. When acting on
behalf of a client, it is important that the agency and the representatives are honest, fair, and
professional. Comply with the conduct of a real estate agency practice. Protect client’s assets
and money.
1.6 Identify parties to the following real estate transactions;
a) Contract for Sale of House and Land

b) General Tenancy Agreement;
c) Agency Agreement (Appointment of Agent);
A) Real Estate Agent/Salesperson

B) Property Manager
C) Licensee in charge
1.7 Explain the agency’s obligations in relationship to sharing their commissions/licence

lending as outlined in the legislation for your state/territory.
If a property agent performs on a commission based salary they may only claim commission for
the actual amounts. The letting agent or property agent must not claim commission worked out
on an amount more then the sale price of the property. The agency has an obligation to ensure
they are only sharing commissions earned from the sale of a property with someone who holds a
registration certificate of licence.
Property Occupations Act 2014

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Section 88: Commission may be claimed only for actual amounts
(1) This section applies to—
(a) a property agent who performs, for the payment of a commission, a service of selling or
letting property or collecting rents; or
(b) a resident letting agent who performs, for the payment of a commission, a service of letting
lots or collecting rents.
(2) The property agent or resident letting agent must not claim commission worked out on an
amount more than the actual sale price of the property, the actual rental for the property being
let or the actual amount of rent collected.
1.8 What are the repercussions for agents/agencies performing real estate activities whilst
being unlicensed? Refer to the relevant section(s) of the legislation in your answer.
According to Property
Occupations Act 2014,
Section 89 Restriction on
recovery of
reward or expense – no proper
authorisation etc. Subsection
(2), the maximum penalty
for performing real estate
activities while being
unlicensed is 200 penalty units
or up to 2
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years imprisonment. This has a

monetary value of $28,750.00.
By being convicted of this
offence, the agency also
breaches their fiduciary and
contractual obligations to their
principals. This will result in a
great loss of trust and
confidence in the agency
and could further result in
negative reputation within
the
community. As a result, acting
without a licence or licence
lending/commission sharing
when not properly authorised
could ultimately amount to loss
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of clients and eventually a

jo
According to Property
Occupations Act 2014,
Section 89 Restriction on
recovery of
reward or expense – no proper
authorisation etc. Subsection
(2), the maximum penalty
for performing real estate
activities while being
unlicensed is 200 penalty units
or up to 2
years imprisonment. This has a
monetary value of $28,750.00.
By being convicted of this
offence, the agency also
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breaches their fiduciary and

contractual obligations to their
principals. This will result in a
great loss of trust and
confidence in the agency
and could further result in
negative reputation within
the
community. As a result, acting
without a licence or licence
lending/commission sharing
when not properly authorised
could ultimately amount to loss
of clients and eventually a
jo
According to Property Occupations Act 2014, Section 89 Restriction on recovery of reward or
expense – no proper authorisation etc. Subsection (2), the maximum penalty for performing real
estate activities while being unlicensed is 200 penalty units or up to 2 years imprisonment. This
has a monetary value of $28,750.00.
By being convicted of this offence, the agency also breaches their fiduciary and contractual
obligations to their principals. This will result in a great loss of trust and confidence in agency
and could further result in negative reputation within the community. As a result, acting without a
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license or licence lending/commission sharing when not properly authorised could ultimately
amount to loss of clients and eventually job.

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2. Key Agencies and Industry Bodies.
Provide a detailed overview of the following agencies (refer to your own state or territory
where required), including any legislative powers they have.
2.1 Consumer Affairs (VIC)/Fair trading (QLD & NSW)/Consumer Protection (WA)
The Role of the Office of Fair Trading is to regulate the Real Estate Industry in their
respective states.
The Office of Fair Trading inspectors are provided their powers by the Fair Trading
Inspectors Act 2014. This allows them to carry out their role of educating consumers and
traders, monitoring traders, licencing certain industries, conciliating disputes,
investigating breaches, and taking the necessary enforcement options. Currently, the
OFT regulates over 90 pieces of legislation which includes the Property Occupations Act
2014 and the Agents Financial Administration Act 2014.
One of the objectives of the OFT is to monitor and enforce compliance. The OFT aims to
target the ‘high risk’ areas of non-compliance to deter the breaches, however, inspectors
do also complete unannounced checks to ensure businesses remain compliant.
Generally, they will introduce themselves and produce identification to prove that they
are an inspector. They will then require certain information and documentation to be
produced so it can be audited. This includes licences, agency agreements/appointments
of agents, records of commissions and fees, owner statement and receipts. An inspector
will be auditing these for evidence of non-compliance in the trust account, such as
unauthorised charging of expenses or overcharging of commissions and fees.
If an agency refuses an audit, the OFT can make an application to the magistrates
court for a search warrant. Should they be found non-compliant, the OFT can also
freeze the trust account and/or appoint a receiver.
2.2 Civil and Administrative Tribunal (VIC, NSW & QLD / State Administrative Tribunal
(WA)
The Queensland Civil and Administrative Tribunal is an independent tribunal. Its purpose
is to effectively resolve disputes on a range of matters, including those that occur during
residential tenancies. QCAT aims to provide effective dispute resolution that is quick and
affordable. It is given its legislative power by The Queensland Civil and Administrative
Tribunal Act 2009.
The Residential Tenancies Association should be the first attempt to resolve tenancy
disputes. Should they not be able to assist, the matte can then be escalated to QCAT.
There are some instances where the matter can go straight to QCAT, these include
breaches and excessive hardship. However, this is only when the matter is deemed
urgent.
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Matters such as pets in rental properties, repair orders and tenancy database listings
can also be bought to QCAT. The tribunal also has a monetary limit is $25,000. If the
claim exceeds this amount, the party seeking the damages needs to make an
application through the relevant court.
2.3 Estate agent’s council/property board/Industry Body

The industry Body representing agents across QLD is the Real Estate Institute of the
Queensland. It is a membership-based body aiming to strengthen conditions for all
working withing the real estate industry. It aims to include Contribute to government
legislation/policies, advocate for balance in regulations, provide training, deliver timely
innovative and market-driven education programs, promote risk management, increase
professional capability, and implement professional standards.
The REIQ is not given power by any legislation as it exists to provide support to real
estate agents and the industry.
2.4 Residential tenancies bond authority/board

The RTA is the part responsible for holding and releasing the bond payment during and
following a tenancy. It is responsible for administering the Residential and Rooming
Accommodation Act 2008 whereby its given its power.
When a bond is paid, it is lodged along with a Form 2 (Bond Lodgement Form.) At the
end of the lease, the property manager or tenant can claim back the bond to be
refunded, minus any deductions that may be necessary to cover outstanding items.
Furthermore the RTA also deals with the dispute resolution, as claiming back a bond
can be an issue with residential tenancies. The RTA is a vital body for providing a third
party between property managers and tenants during a tenancy.
2.5 Real Estate Institute of Australia (REIA).

The REIA aims to provide research and advice to ensure uniform legislation from the
federal government, the opposition government, members of the real state sector, the
media and the public.
They aim to provide stakeholders with a credible source of knowledge on a range of

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industry specific issues that affect the property market. This gives consumers, agencies,
and agents the opportunity to make informed decisions and develop evidentiary-
supported opinions about residential sales and rental property markets.
The REIA also coordinates training and education facilities in order to better train real
estate professionals within the industry. This provides consumers with the highest level
of service and knowledge as possible. As it is a non-politically aligned body, the REIA is
not bare any law-enforcement powers.

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3. Legislative requirements
3.1 Identify the legislation that regulates the real estate industry, including property sales
and management.
- Property Occupations Act 2014

- Agents Financial Administration Act 2014
- Queensland Civil and Administration Tribunal Act 2009
- Residential Tenancies and Rooming Act 2008
- Retail Shop Leases Act 1994
3.2 What are legislative licensing and eligibility requirements for a) administration staff, b)
principal agents, c) salespeople and d) property managers?
A) Administration staff do not require a license to work in a real state agency.

Because of this they are unable to undertake real estate activities such as making
representations to public regarding properties.
B) Principal agents must have a full license or upgrade their registration certificate
which must have neem completed through a registered training institute. An
agency cannot legally operate without a principal agent. You must be over the
age of 18 to be suitable for the position and have at least one place of business in
QLD. An individual is not suitable if they have been made bankrupt or if they have
been convicted of a serious offence punishable by 3+ years imprisonment in the
last 5 years.
C) Salespeople need to obtain either a full real estate licence (CPP41419 Certificate
IV in Real Estate Practice) or a registration course as per the Property
Occupations Act 2014. Once completed, a person wishing to become an agent
will receive a certificate of attainment which will enable the individual to register
as a real estate salesperson with the OFT. To be eligible to become a sales
agent, you must be 18 years or older, pass the required training course, be
solvent and not under administration. You must not be disqualified from holding a
license and not have been convicted or a serious offence within the last 5 years.
D) Property managers need to obtain a real estate licence or complete the
registration course in the same way agents do. Property managers must meet the
same eligibility criteria as sales agents.
3.3 Name the equal opportunity and anti-discrimination principles and laws applicable to
real estate and explain how they apply to day to day real estate activities.
- Age Discrimination Act 2004

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- Disability Discrimination Act 1992

- Racial Discrimination Act 1975
- Sex Discrimination Act 1984
Having anti-discrimination laws in addition to the Fair Work Act 2009, improves the
attainability for having equal opportunity in the workplace. These laws make it an offence
to discriminate against people based on their personal attributes such as age, disability
race and sex. The Australian Human Rights Commission receives, investigates, and
resolves any complaints of offences of discriminatory nature, given its statutory power by
the above-mentioned legislation. Each state has their own anti-discrimination laws such
as the Anti-Discrimination Ace 1991 (QLD.) These laws are essential for everyone of all
genders, races and abilities, to enable them the opportunity to succeed in a career in the
real estate industry.

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Ethical and professional conduct standards (Code of Practice)

4.1 Identify and name the legislation relating to ethics and professional conduct of real
estate agents.
Students should demonstrate knowledge of the standards relevant to their state or

territory.
In Queensland, the code of cinduct for real estate agents is detailed in Property Agents
and Motor Dealers (Real Estate Agency Code of Conduct) Regulation 2001, which is the
subordinate legislation to the Property Agents and Motor Dealers Act 2000.
General rules of conduct include
- Knowledge of Act and Code
- Fiduciary Obligations
- Honesty, Fairness & Professionalism
- Skill, care & diligence
- Agent to act in clients best interests
- Agents to act in accordance with clients instructions
- Agent to keep client informed of developments
- Agent to ensure employees comply with Act and code
- Representations by employees
- Fraudulent or misleading conduct
- High pressure tactics, harassment, or unconscionable conduct
- Claiming membership or endorsement
- Conflict of duty or interest
- Soliciting through false or misleading advertisements or communications
These codes of conduct relate to trading an ethical standard. The regulation also details
specific rules for both real estate agents and property managers.
4.2 Discuss the objective of the regulations to set the standard of conduct expected of
licensees and real estate salespersons in their day-to-day dealings with clients (sellers and
landlords) and consumers (buyers and tenants).
Regulations are in place to ensure the satisfaction of clients and consumers. The code
of conduct is in place so that sellers and landlords can expect agents and property
managers are conducting their roles with their best interests in mind. The objective of
regulators are to minimise the opportunity for real state professionals to act unethically
and to an unprofessional standard for their own benefit.
A code of conduct is also beneficial for buyers and tenants, as the code of conduct
provides piece of mind. Although agents and property managers are acting on behalf of
the seller and landlords, regulations on professionalism also ensures tenants and sellers
are treated fairly and to the same standards as sellers and landlords.
A code of conduct provides agents and property managers guidelines for their conduct
whilst performing their work and makes it very clear on what is an acceptable standard
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of behaviour when dealing with clients and customers.
4.3 List two obligations that real estate personnel must abide by under the legislation?
- A real estate agent must act in accordance with the client’s instructions unless it is
contrary to this code or otherwise unlawful to do so.
- A real estate agent must not engage in high pressure tactics, harassment, or
unconscionable conduct in the conduct of a real estate agency practice.
Sourced from: Property Agents and Motor Dealers (Real Estate Agency Practice Code
of Conduct) Regulation 2001, Part 2 section 10
4.4 Research and examine the foundation for ethical practice applicable to real estate and
explain its relationship to ethical behaviour.
According to the Faculty of Health Professions, ethical behaviour can be defined by

honesty, fairness and equity in a variety of activities including professional, interpersonal
and academic relationships. Ethical behaviour is essentially the demonstration of
respecting the rights, dignity and diversity of groups and individuals.
Ethical standards are essential for retention of clients and consumers. An agency that
values ethical practices has solid interpersonal, professional relationships. These
relationships will enable repeat sales, clients, consumers and even staff retention.
Respecting the rights of individuals and embracing what others have to offer will be
reflected in the work that is executed.

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5. Employment Agreements
5.1 Name and explain the types of employment arrangements that are commonly applied
in the real estate industry.
Commission, bonus and incentive payments.

This is an agreement whereby the employee is paid the minimum weekly wage in
addition to a portion of the commission paid to the employer. The method for the
calculation of the amount of commission must be in a written agreement between the
employer and the employee.
If the employee is entitled to a bonus or incentive payment, rather than commission, the
bonus or incentive payment must be in a written agreement between the employer and
the employee.
If there is a change to the commission, bonus or incentive amounts, the employer and
employee must agree in writing. The employee will be paid the amount in accordance to
the date the contract sale or for lease becomes legally enforceable.
5.2 What is the purpose of the National Employment Standards in reference to employers
and employee rights and responsibilities.
The purpose of the National Employment Standards is to ensure employers and

employees are all on the same page when it comes to rights and responsibilities.
Employers have the responsibility to adhere to the employment standards and apply
these standards fairly across their organisation. They also have the responsibility to their
employers of providing an adequate standard of workplace health and safety, tax,
obligations, pay and entitlements, leave entitlements, superannuation, legal obligations
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when training and record keeping. They also have the right to hold certain expectations
of their employees, such as knowing and complying with the conditions of their
employment.
Employees also have the right of knowing and understanding the National Employment
Standards to ensure the standards are being upheld by their employer. Should an
employee not know their rights under these standards, an employer may take advantage
of them without them knowing. Employees have a number of responsibilities under these
standards. These standards, such as knowing and complying with the conditions of their
employment, obeying lawful orders, and complying with codes and standards for ethical
conduct and professionalism ensure the employer has piece of mind that their
organisation is upholding professional standards.
These National Employment Standards are integral in not only ensuring the employer
has the right to certify employees are working in an acceptable standard, but also in
ensuring employers maintain their obligations to the employee at an appropriate level.
5.3 What are the employers’ responsibilities regarding employment arrangements in real
estate?
The employer has a responsibility to ensure that the employment arrangement is

reasonable. An employer also needs to come to an agreement with the employee and
have a signed, written agreement.
They have a responsibility of paying commission, bonus, or incentive payments. Be paid
within 14 days of the entitlement becoming payable. This means payments to the
employee need to be made on time by the employer.
An employer at minimum should ensure that an employee meets the requirements when
entering into commission-only employment. Should an employee not meet the minimum
requirements and have not achieved the MITA, it is the responsibility of the employer not
to proceed with a commission-only employment agreement, In addition to these
standards, an employer also needs to comply with all other employer responsibilities
relevant to the employment arrangement in place.
5.4 What are the employee responsibilities regarding employment arrangements in real
estate?
It is the employees’ responsibility to ensure they are undertaking their employment

arrangement with the upmost professionalism and to an acceptable standard. An
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employee needs to ensure they meet the minimum requirements before agreeing to
enter into an employment arrangement.
The employee to have been complicit with the conditions of their employment, lawful
orders, requirements for privacy/confidentiality of personal information and with the
codes and standards for ethical conduct and professionalism. They also need to perform
their duties while executing a reasonable level of care to protect against risks, health
and safety for themselves and others that have the potential to be affected.
Furthermore, a real estate employee must comply with their responsibilities set out in the
code of conduct or Property Agents and Motor Dealers Regulation 2011 in order to
properly be performing in their employment arrangement.

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6. Communication Strategies
6.1 Identify and detail (3) communication strategies/skills that are required for professional
practice in real estate to build client relationships.
Verbal communication strategies consists of written and oral strategies. Written

strategies include, texts, emails, social media messages, letters etc. Oral strategies
include phone calls, facetimes/video calls, and face to face conversations. Verbal
communication is integral to effectively getting the message across to clients and
consumers. Face to face conversations allow people to effectively correspond in real
time, as there is little time to pause to think about what will be said next. On the contrary
emails and text messages allow more time to respond in a well thought manner. A real
estate professional can utilise these written verbal communication strategies to gather
more information, confer with others before responding. Furthermore, verbal
communication in its various forms is an integral part of developing strong relationships
with clients in order to achieve the best results possible.
Another strategy which can at times be overlooked is nonverbal cues, such as facial
expressions, tone of voice, and body language. Even the physical distance between
individuals communicating can send a message. It is essential for someone to
understand the message they are sending without using any words. Someone who uses
open, expressive tone of voice, hand gestures and happy facial expressions comes
across as friendly and approachable, making the person they are communicating with
feel welcomed. This will make it easier to build relationships. Often times, buying,
selling, leasing out or renting can be a daunting experience, therefore having friendly
nonverbal communication skills can be the difference in making people feel at ease
throughout the process. It is important for a real estate professional to be able to
understand nonverbal cues and to the interest or needs o a verbal client/consumer.
Nonverbal communication strategies are just as important as verbal communication
skills, as they allow people to form a better connection and foster a strong interpersonal
and professional relationship which will lead to greater success throughout a real estate
career.
The use of visual interactions is another essential communication strategy. Things like
social media posts, signs, billboards, bus boards and websites. Another common
strategy used in the real estate industry are for lease and sale signs. Often displayed at
the front of the property, they enable communication with the community without having
the social interaction. Marketing campaigns are a popular form of communication in the
industry because they consistently remind clients of an agent’s presence in the industry.

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6.2 Identify and explain communication strategies which can be used to address client
complaints.
One of the first steps in order to resolve a complaint is to effectively identify the situation.
Should a client have a complaint it is important to ask questions for a better
understanding. Firstly, the client needs to be asked if they are willing to sit down and
discuss. Ask what happened to cause the complaint and what it has caused them to
feel. Identify any other questions that need to be asked and ensure they are open ended
questions to keep the communication clear.
Once you’ve gathered a sufficient amount of information to understand where the
complaint has begun from, the real estate professional should analyse the expectations
that were not met and fix them.
Analysing and viewing the situation from other perspectives will then enable the person
on the receiving end of the complaint to identify a mistake. Focus on preventing further
escalation of the situation by showing empathy and that you understand the situation.
Once a resolution has been established thank the customer for the conversation in order
ensure the service provided after the conflict has helped the initial situation.

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7. Continuing Professional Development

7.1 Research and explain regulatory requirements for continuing professional development
for real estate personnel.
Whilst there is currently no regulatory requirements for real estate agents in Queensland
to undertake any further professional development following the attainment of their real
estate licence, the REIQ supports the notion that it is essential for all professionals to do
so.
Members of the REIQ has access to professional development courses free of charge. It
is a requirement to complete CPD courses each year to maintain their membership. This
enables them to refresh their knowledge to effectively complete their role under ever-
changing legislative and industry standards.
The only professional development for a real estate agent is the upgrade of a certificate
of registration to a full license, however this is not compulsory and only necessary if
opening their own real estate business.
In order to ensure there are no breaches of the law as the legislation consistently
changes. It is imperative that real estate professionals undertake professional
development in order to perform at the highest standard for their role. Currently there are
no regulations in Queensland that requires further development, it is up to the agent to
ensure they are consistently upskilling and staying up to date with legislative/industry
requirements.
7.2 Regardless of whether continuing professional development is mandatory in your

state, identify and record 3 opportunities and priorities for continuing professional
development.
- Complete a training course with a registered training organisation

- Attend events and in person training sessions organised by state governments or
industries
- Research updates on relevant legislation pieces such as the Property
Occupations Act 2014, Residential Tenancies and Rooming Accommodation Act
2008 and the Agents Financial Administration Act 2014 (QLD)

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CPPREP4001 - Prepare for professional practice in real estate (Release 1)

Work in the Real Estate Industry Report

Work in the Real Estate Industry Report

© Real Estate Academy Australia 1 | Page Version 1.9 – August 2022

What you need to do:

What you will need:

What you need to submit:

Your completed report.

How to Submit your Assessment:

Click on finish attempt to submit it for grading.

© Real Estate Academy Australia 2 | Page Version 1.9 – August 2022

1. Real estate agency structure and personnel

1.1 Identify the various business ownership options

1.2 Identify the services offered by real estate agencies

11. Business sales

© Real Estate Academy Australia 9 | Page Version 1.9 – August 2022

10.Rural sales (stock & station)

© Real Estate Academy Australia 11 | Page Version 1.9 – August 2022

- Coordinate marketing activities

1.5 Identify and explain the agency-principal relationship.

1.6 Identify parties to the following real estate transactions;

a) Contract for Sale of House and Land

A) Real Estate Agent/Salesperson

1.7 Explain the agency’s obligations in relationship to sharing their commissions/licence

Property Occupations Act 2014

years imprisonment. This has a

of clients and eventually a

breaches their fiduciary and

© Real Estate Academy Australia 17 | Page Version 1.9 – August 2022

2. Key Agencies and Industry Bodies.

2.3 Estate agent’s council/property board/Industry Body

2.4 Residential tenancies bond authority/board

2.5 Real Estate Institute of Australia (REIA).

They aim to provide stakeholders with a credible source of knowledge on a range of

© Real Estate Academy Australia 19 | Page Version 1.9 – August 2022

© Real Estate Academy Australia 20 | Page Version 1.9 – August 2022

- Property Occupations Act 2014

A) Administration staff do not require a license to work in a real state agency.

- Age Discrimination Act 2004

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- Disability Discrimination Act 1992

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Ethical and professional conduct standards (Code of Practice)

Students should demonstrate knowledge of the standards relevant to their state or

of behaviour when dealing with clients and customers.

According to the Faculty of Health Professions, ethical behaviour can be defined by

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Commission, bonus and incentive payments.

The purpose of the National Employment Standards is to ensure employers and

The employer has a responsibility to ensure that the employment arrangement is

It is the employees’ responsibility to ensure they are undertaking their employment

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Verbal communication strategies consists of written and oral strategies. Written

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7. Continuing Professional Development

7.2 Regardless of whether continuing professional development is mandatory in your

- Complete a training course with a registered training organisation