Work in the real estate industry
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Written Assignment
Work in the real estate industry
(CPPDSM4080A_AS_v4)
Student identification (student to complete)
Please complete the fields shaded grey.
Student number
State/Territory
☐
ACT
☐
NSW
☐
QLD
☐
SA
☐
TAS
X☐
VIC
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WA
Written assignment result (assessor to complete)
Result — first submission (Details for each activity are shown in the table below)
Not yet demonstrated
Parts that must be resubmitted
Result — resubmission (if applicable)
Not applicable
Result summary (assessor to complete)
First submission
Resubmission (if required)
Part 1: Short answer questions
Not yet demonstrated
Not applicable
Part 2: Research project
Not yet demonstrated
Not applicable
Part 3: Case study
Not yet demonstrated
Not applicable
Feedback (assessor to complete)
[insert assessor feedback]
Before you begin
Read everything in this document before you start your written assignment for Work in the real estate industry (CPPDSM4080A_AS_v4).
About this document
This document is the written assignment.
This document includes the following parts:
• Part 1: Short answer questions
• Part 2: Research project
• Part 3: Case study.
How to use the Recommended subject order
Kaplan Professional recommends that you refer to the Recommended subject order document for your Real Estate program before commencing this assignment. It will benefit you to complete the subjects and assessments in the order suggested, as this represents a logical progression and development of your real estate knowledge and understanding.
Your Recommended subject order document is in the ‘Start here’ tab in your KapLearn subject room.
Instructions for completing and submitting this written assignment
The information and resources that can assist you in answering the questions in this assessment can be primarily sourced from the learner guide and supporting resources for Work in the real estate industry (CPPDSM4080A_AS_v4), located on your subject room. You may also be required to conduct some independent research.
When completing your assessment:
• ensure you read each question carefully and answer all parts of the question
• type your answer in the space provided
• ensure you respond to the question in full and where necessary the box will expand to accommodate for your response. The answer box is not indicative of the length of your response
• where relevant, make reference to your state’s specific legislation or requirements
• if submitting additional pages for this assessment, ensure it is clearly labelled with your name, subject name and question number.
Saving your work
Download this document to your desktop, type your answers in the spaces provided and save your work regularly.
• Use the template provided, as other formats will not be accepted for these assignments.
• Name your file as follows: Studentnumber_SubjectCode_Assignment_versionnumber_Submissionnumber
(e.g. 12345678_CPPDSM4080A_AS_v4_Submission1).
• On the first page of the assignment, include your student ID and the State/Territory of your course.
Before you submit your work, please do a spell check and proofread your work to ensure that everything is clear and unambiguous.
Submitting the written assignment
Only Microsoft Office compatible written assignments submitted in the template file will be accepted for marking by Kaplan Professional Education. You need to save and submit this entire document.
Do not remove any sections of the document.
Your assignment must be submitted in Word format, along with any relevant forms (if required) as PDFs.
Please refer to the Assignment submission/resubmission instructions in the Assessment section of KapLearn for details on how to submit your written assignment.
The written assignment must be completed before submitting it to Kaplan Professional Education. Incomplete written assignments will be returned to you unmarked.
The maximum file size is 20MB. Once you submit your written assignment for marking you will be unable to make any further changes to it.
You are able to submit your written assignment earlier than the deadline if you are confident you have completed all parts and have prepared a quality submission.
Your written assignment must be submitted prior to expiry date of your course. Please refer to your enrolment details for the due date.
The written assignment marking process
You have until the expiry of your course to submit your completed assignment inclusive of any resubmissions.
Should any part of your assignment be deemed ‘Not yet demonstrated’ you will be given a second attempt to resubmit your Assignment; which must be submitted within the course duration period. Extensions may be requested at a fee.
Your assessor will mark your written assignment and return it to you in the Work in the real estate industry (CPPDSM4080A_v4) subject room in KapLearn under the ‘Assessment’ tab.
Make a reasonable attempt
You must demonstrate that you have made a reasonable attempt to answer all of the questions in your written assignment. Failure to do so will mean that your assignment will not be accepted for marking; therefore, you will not receive the benefit of feedback on your submission.
If you do not meet these requirements, you will be notified. You will then have until your submission deadline to submit your completed written assignment.
How your written assignment is graded
Assignment tasks are used to determine your ‘competence’ in demonstrating the required knowledge and/or skills for each subject. As a result, you will be graded as either ‘Demonstrated’ or ‘Not yet demonstrated’.
Your assessor will follow the below process when marking your written assignment:
• Assess your responses to each question, and sub-parts if applicable, and then determine whether you have demonstrated competence in each question.
• Determine if, on a holistic basis, your responses to the questions have demonstrated overall competence.
You must be deemed ‘Demonstrated’ in the following assessment items in order to receive your unit of competency for this subject:
• all of the multiple-choice quiz questions
• this written assignment
• the final oral assignment.
Please note: The final oral assignment covers all units of competency in your course. You will gain access to it once you have been deemed ‘Demonstrated’ in all other assessment items in all subjects.
‘Not yet demonstrated’ and resubmissions
Should sections of your assignment be marked as ‘Not yet demonstrated’ you will be given an additional opportunity to amend your responses so that you can demonstrate your competency to the required level.
You must address the assessor’s feedback in your amended responses. You only need amend those sections where the assessor has determined you are ‘Not yet demonstrated’.
Make changes to your original submission. Use a different text colour for your resubmission. Your assessor will be in a better position to gauge the quality and nature of your changes. Ensure you leave your first assessor’s comments in your assignment, so your second assessor can see the instructions that were originally provided for you. Do not change any comments made by a Kaplan assessor.
Units of competency
This written assignment is your opportunity to demonstrate your competency against these units:
CPPDSM4080A
Work in the real estate industry
Note that the written assignment is one of three assessments required to meet the requirements of this unit of competency.
Assessment activities
The activities contained in this document are outlined below.
Part 1: Short answer questions
• This section consists of 5 short-answer questions.
• Question 2, 3 & 5 consist of multiple parts.
Part 2: Research project
• This section consists of 4 questions.
• You are expected to conduct your own research to answer these questions.
Part 3: Case study
• This section consists of 6 questions based on a simulated scenario.
• You will also be required to access the internet to conduct some research and undertake additional reading.
We are here to help
If you have any general questions about this written assignment you should post your query at the ‘Ask your Tutor’ forum in your subject room (where provided), or email your query to realestate@kaplan.edu.au. You can expect an answer within 24 hours.
Part 1: Short-answer questions
Note: You should ensure you are familiar with the Learner Guide for this subject, as well as your state/territory’s ‘Supporting Resources’ folder, both of which are located in ‘Learner Resources’ in your KapLearn subject room. The state/territory ‘Supporting Resources’ folder contains the state specific information you will need to complete this assignment.
Question 1
Briefly explain the difference between the following three (3) forms of business ownership for real estate agencies, in terms of liabilities and responsibilities for the business owners:
• sole trader
• company
• partnership.
Answer here
Sole trader is defined as an individual who is trading on their own irrespective of whether the business has employees or not. Its the oldest and simplest form of business structure. No new legal entity is created so all the liabilities are against the individual. Also the income is treated as the individuals income by using their Tax fie number for tax purposes.
A partnership is the relationship between two or more persons carrying a businnes in common in order to make profit but it shouldn’t involve more then 20 parties.
Same as sole trading no new legal entity is created and all parties are legally responsible for all the business dealings , contracts including debts.
The parties do not need to register their partnership with any external authorities but they should have an agreement signed within each other for legal purposes.
A partnership also needs its own tax file number as it must lodge annual income tax return even though they don’t pay income tax. The partners declare their share of profits on their own tax file numbers.
And bare in mind that all partners included on the business are responsible for all debts of the business to the extent of their personal assets. Also all the parties in a partnership must hold their individual licence as they cannot share a license.
A company is a single legal entity seperate from the individual who form the company.
A company sort of acts like an individual and can do many of the things that individuals do at law like create contracts , has the right to sue , can also be sued , it can own property and also enter into legally binding agreements. Shareholders of the company have no legal liabilities for its debts apart from the cost of shares.
Also a company need to be registered for ABN and tax file number because it pays income tax on profits currently at 30%.
Assessor feedback:
Resubmission required?
No
Question 2
(a) What is the name of the agents Act under which real estate agents operate in your state/territory?
Answer here
Assessor feedback:
Resubmission required?
No
(b) For your state/territory, name the regulatory authority that is responsible for administering the provisions of the Act you have listed for part (a) above.
Answer here
Assessor feedback:
Resubmission required?
No
(c) Besides the legislation you have listed in part (a), make a list of at least two (2) other key pieces of legislation that impacts on agency operations in your state/territory and identify where/how you might access this legislation.
Answer here
Assessor feedback:
Resubmission required?
No
(d) List two (2) rules of conduct/ethical standard specific to agents in your state/territory and for each provide an example of how this rule of conduct/ethical standard could be breached by an agent.
Answer here
Assessor feedback:
Resubmission required?
No
Question 3
Visit the website of the following government agencies and explain their role as it relates to the property sector.
(a) Australian Competition and Consumer Commission (ACCC).
Answer here
Assessor feedback:
Resubmission required?
No
(b) Office of Privacy Commissioner.
Answer here
Assessor feedback:
Resubmission required?
No
(c) Australian Human Rights Commission.
Answer here
Assessor feedback:
Resubmission required?
No
(d) Safe Work Australia.
Answer here
Assessor feedback:
Resubmission required?
No
(e) Fair Work Commission.
Answer here
Assessor feedback:
Resubmission required?
No
Question 4
Explain the relationship between the role of the licensed estate agent and the agent representative employed by them, including any documentation that is required to formalise this relationship.
Answer here
Assessor feedback:
Resubmission required?
No
Question 5
(a) Describe three (3) different situations where you may be required to seek specialist advice when working in the real estate sector.
Answer here
Assessor feedback:
Resubmission required?
No
(b) For the three (3) above circumstances you have identified, what particular expert advice would you need to source for each? Provide the reasoning behind your answer?
Answer here
Assessor feedback:
Resubmission required?
No
Assessor feedback:
[insert feedback]
Date assessed:
Click here to enter a date
Does the student need to resubmit?
No
Questions that need to be resubmitted
First submission
Not yet demonstrated
Resubmission
Not applicable
To pass this subject, you will need to be assessed as DEMONSTRATED for either your first submission or your resubmission.
Part 2: Research project
Choose an agency that you can access, either by carrying out observation in person or online.
Question 1
List the name of the chosen agency. Describe how you conducted your research — e.g. online, interview, observation or combination.
Answer here
Assessor feedback:
Resubmission required?
No
Question 2
What property services licences does this business hold and how were you able to ascertain this information? Hint: property services licences refer to type of licence class/category e.g. Corporation, Licensee, Agent Representative etc.
Answer here
Assessor feedback:
Resubmission required?
No
Question 3
What are the key areas of operations (i.e. scope of services) that this agency provides: example, residential sales only, residential sales and property management, commercial management etc.?
Answer here
Assessor feedback:
Resubmission required?
No
Question 4
Briefly outline the main roles/ responsibilities of key agency personnel working in the agency. If you are unable to conduct an interview, you may be able to gather information about the roles and responsibilities from the agency’s website, most of which have information ‘about us’ or ‘our team’, or there may be an organisational chart. In your response, explain how you obtained this information.
Answer here
Assessor feedback:
Resubmission required?
No
Assessor feedback:
[insert feedback]
Date assessed:
Click here to enter a date
Does the student need to resubmit?
No
Questions that need to be resubmitted
First submission
Not yet demonstrated
Resubmission
Not applicable
To pass this subject, you will need to be assessed as DEMONSTRATED for either your first submission or your resubmission.
Part 3: Case study
Question 1
You are about to be interviewed for a new position in real estate, it can be either a sales or property management role.
How do you intend to ensure your personal presentation and professional image provide you with the right starting point for a career in real estate?
Answer here
Assessor feedback:
Resubmission required?
No
Question 2
You are given the interview questions before hand to allow time to prepare. For these interview questions below, prepare brief notes as your personal response.
Describe two (2) different interpersonal communication skills or strategies that you would use for each of the tasks below:
(a) Establishing rapport with clients.
Answer here
Assessor feedback:
Resubmission required?
No
(b) Determining client needs.
Answer here
Assessor feedback:
Resubmission required?
No
(c) Providing accurate advice and follow up services.
Answer here
Assessor feedback:
Resubmission required?
No
Question 3
You are successful in obtaining this new position in the real estate agency, and your agency licensee/manager asks you to prepare a short plan that sets out opportunities you can identify for continuing training to develop your competence and then progress to specialist or advanced skills over the next 12 months. This involves you assessing your own existing personal knowledge and skills in providing real estate services and nominating a plan to address any priorities in your training needs, including how you might obtain the training to meet your identified needs. For example: you might identify that you need to update your computing skills to use agency databases more efficiently, so you might nominate where you could obtain this training.
Note: If your state has any mandatory CPD requirements for renewal of your registration or licence, you will need to reflect these in your answer to show that you understand how your professional development plan incorporates this regulatory requirement.
Answer here
Assessor feedback:
Resubmission required?
No
Question 4
As you are about to start your new job in the property sector, it is vital that you understand employee and employer rights and responsibilities regarding conditions of employment. On the Fair Work Australia website:
(a) Access and read the information provided about the National Employment Standards: <https://www.fwc.gov.au/creating-fair-workplaces/the-national-workplace-relations-system/national-employment-standards-0>, and list three (3) employee rights/responsibilities and three (3) employer rights/responsibilities in the following table:
Employee rights or responsibilities
Employer rights or responsibilities
1
Answer here
Answer here
2
Answer here
Answer here
3
Answer here
Answer here
Assessor feedback:
Resubmission required?
No
(b) Access and read through the current National Real Estate Award: <https://www.fwc.gov.au/documents/documents/modern_awards/award/MA000106/default.htm>, and refer to section 4.1 Minimum Weekly Wages. List all the different classifications of employment in the current Real Estate Award, and the minimum weekly wage for each classification.
Answer here
Assessor feedback:
Resubmission required?
No
Question 5
Carry out your own research on the website for your state’s/territory’s regulatory authority/licensing body and in your Agent’s legislation.
(a) List all of the eligibility requirements for employment as a real estate agent representative in your state/territory (please note: requirements should include criteria that make you eligible as well as criteria that make you ineligible).
Answer here
Assessor feedback:
Resubmission required?
No
(b) List all of the eligibility requirements for obtaining an estate agents licence in your state/territory (Please note: Requirements should include criteria that make you eligible as well as criteria that make you ineligible).
Answer here
Assessor feedback:
Resubmission required?
No
(c) What are the penalties involved with operating without an appropriate licence or registration to work in the property industry in your state/territory? Hint: check the early sections of the Act applicable for your state/territory, and/or the regulatory authority website for real estate licensing in your state/territory.
Answer here
Assessor feedback:
Resubmission required?
No
Question 6
Your employer suggests that you become involved with at least two industry associations relevant to your role in real estate. Do some research on property industry associations and respond to the following questions.
(a) List two (2) different industry associations that you might consider joining.
Answer here
Assessor feedback:
Resubmission required?
No
(b) Indicate why you would choose these associations, ensuring you state what benefit(s) you would gain by joining.
Answer here
Assessor feedback:
Resubmission required?
No
Assessor feedback:
[insert feedback]
Date assessed:
Click here to enter a date
Does the student need to resubmit?
No
Questions that need to be resubmitted
First submission
Not yet demonstrated
Resubmission
Not applicable
To pass this subject, you will need to be assessed as DEMONSTRATED for either your first submission or your resubmission.
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