and regulatory framework to complete agency work

Office use only Date received Method of receipt 0 E-mail 0 Post 0 Fax 0 Assignment Box Level 4 0 Assignment Box Ground Floor 0 Hand Delivered CPPDSM4002A Apply knowledge of state or territory legislation and regulatory framework to complete agency work CPPDSM4009B Negotiate effectively in property transactions STUDENT DECLARATION I hereby submit these assessment tasks for the unit listed above and certify 0 Yes • that all work contained therein has been completed by me 0 Yes • that no part thereof has been completed or copied from any other person 0 Yes • I have referenced and/or acknowledged all necessary authors 0 Yes • I have kept a copy of my assessments 0 Yes • I understand REINSW is not responsible for assessments lost in transit 0 Yes • I will resubmit at my own cost and time in the event I do not keep a copy of my assessment 0 Yes • I understand that REINSW will provide my employer upon request, access to my training records and results (where the employer is funding this learning) 0 Yes • I understand that federal and state agencies have the right to access any of my assessment materials for auditing and monitoring purposes 0 Yes • I consent that REINSW may use my de-identified assessment for internal moderation and validation purposes 0 Yes • I understand that if a third party requests my results that REINSW will only do so with my written permission 0 Yes Student Full Name (print) Student ID Contact Number Home Address Student Signature Date STUDENT INSTRUCTIONS 1. I have read the Student Handbook found at: http://www.reinsw.com.au/Student-Handbook/default.aspx 0 2. I will keep my documents safe and secure at all times 0 3. If I am unclear of any part of this process, I will contact the REINSW Assessment Centre • Phone: (02) 9264 2343 • Email: [email protected] 0 4. I will answer all questions using the Study Guide and/or Information as reference tool. Note: the number of lines provided for each response is indicative only and it is not a requirement that you fill all lines 0 5. Where necessary, I have attached supporting documents which are clearly identified in line with the specific question 0 6. Where required, I have completed any agreements, forms and contracts required for this assessment. I have done so in FULL and understand that partial completion will not be accepted 0 7. I have read, dated and signed the Student Declaration at the front of this Assessment 0 8. I have authenticated this work is mine and signed each page of this assessment 0 9. I have taken a photocopy of my completed Assessment and any written submissions. Note: REINSW take no responsibility for lost assessments during transit. 0 10. I will return my completed assessment to: Post : REINSW House, PO BOX A624, Sydney South, 1235 Email: [email protected] 0 Your Results • If your assessment is found to be not competent, you will be provided with clear feedback on what additional information is required via the student assessment record form and/or verbally. • To check the progress of your assessment, you are welcome to call (02) 9264 2343. Assessment Information Assessment for this unit covers the elements and performance criteria for the unit of competency: • CPPDSM4002A Apply knowledge of state or territory legislation and regulatory framework to complete agency work • CPPDSM4009B Negotiate effectively in property transactions These units, form part of the CPP40307 Certificate IV in Property Services (Real Estate) under the Australian Qualification Framework and; • Licensing under NSW Fair Trading. Assessment structure • Part A – Short Answer Questions • Part B – Extended Response Questions • PART C – Workplace Situation Activities Performance Criteria and Elements Every assessment for a Unit of Competency within the Australian Quality Framework (AQF) is structured around Performance Criteria and Elements. To access the performance criteria and elements go to www.training.gov.au and search for unit code: PART A – SHORT ANSWER QUESTIONS For questions in Part A, you will need to provide answers that directly address the question, you may answer in point form. Ensure that you answer all parts of the question. Question 1 List the url’s of three different websites, that you could use to access information about Commonwealth Law. Question 2 When writing legislation, the drafter provides definitions set out in dictionaries and schedules to be appended to the Act. This gives guidance to avoid possible confusion of the intended meaning of a word or term within the Act. 1. What is the difference between the definition which uses the word “may” and the definition which uses the word “must”? Question 3 Identify six pertinent government or industry websites that an agency administrator would inspect regularly to identify any legislative amendments that may affect the agency? Question 4 1. Explain how legislation protects the consumer. 2. Refer to any legislation that may be applicable or to any government or industry bodies that monitor consumer protection Question 5 Review the day to day activities of a sales agent or property manager. Any number of related industries such a banking, construction, finance and or retail, could affect their practice. Choose two of the above and source information about their codes of practice. Give a brief overview of each. Question 6 1. In your own words give a definition of ethical behaviour. 2. What are your key responsibilities when behaving ethically? 3. What legislative instruments enforce ethical behaviour? 4. What bodies enforce any applicable legislation? 5. Which industry association provides guidelines Question 7 Legislation has recently changed in a number of areas that affect both sales and property management including: • Swimming pools • Pest and building reports • Underquoting • Material fact – Asbestos Research one of the above concerns to industry and give an overview of how the changes will, or, have affect agency practice. Include information about the legislative changes that have been enacted. Question 8 Explain how you would share any updates or changes to legislation and agency practice with team members. Question 9 1. Refer to the Privacy Act 1988 – Schedule 1. Explain the intent of the Australian Privacy Principles and how they relate to how an agency collects, maintains and destroy personal information. 2. Discuss the requirements for keeping records in agency and include any other legislative requirements. Question 10 Using the table list 5 activities for sales and property management and the corresponding sections of Acts or Regulations that impact on the way the agent conducts themselves Property Management Activity Legislative Requirements Sales Activities Legislative Requirements PART B – Extended Answer Questions For questions in Part B, you will need to provide answers that are in depth, referenced and supported by additional documentation. Responses to questions need to be approximately 150 words (minimum), if you consult websites or publications to construct your answer, you MUST reference your source. It is expected that you would provide your evidence in a word document, professionally formatted, with attention to grammar, spelling and punctuation. Read each question or scenario carefully and ensure that you answer all of the facets of the question. Question 1 You are going to deliver a session to your team to familiarise them on how to read a piece of legislation. The session needs to include the following topics: • How the Act becomes law • How to access the most recent version of an Act or Regulation • How to access information in the Act and Regulation • What is contained in Schedules • How to find amendments Write a draft document that you will refer to when delivering the presentation Type Answer Here Question 2 It is critical that all real estate agents maintain up to date knowledge of
the Acts and Regulations that apply to real estate practice. 1. Develop a policy and a procedure that would ensure that changes to legislation are monitored and communicated to staff 2. Explain how you would ensure that your policy and procedure manual is up to date include the tracking systems you could use to ensure that only current legislation is included. Type Answer Here Question 3 Part 1 As an agent you must abide by the Rules of Conduct as defined by the Property Stock and Business Agents Regulations. Industry codes of practice are developed to support agents to work ethically. 1. How do the Real Estate Institutes throughout Australia ensure that all member agents understand their legal obligations and best practice standards within the real estate industry? 2. How do you ensure that you work ethically and comply with legislative requirements and code of practice? Part 2 Often as an agent you will be asked to provide advice on related issues such as finance or building structural matters. 3. Explain the requirements of giving advice to your clients on such matters. Cite any legislative requirements that may apply. Type Answer Here Question 4 Using the research that you have done (SAQ7) on an issue of concern to the property sector. Prepare a formal report for the Licensee that outlines the amendment, how the issue will affect agency practice, penalties for non compliance and other important factors that may affect your clients. Type Answer Here Question 5 Part 1 You have been showing a highly sort after apartment and have had many interested parties. Allister Johnston has paid an expression of interest deposit and has taken a copy of the contract to his solicitor. Several days later you receive an offer from Rajib Singh that is acceptable to your Vendor and Rajib is prepared to exchange contract with a 66W immediately. Allister calls you the morning of the proposed exchange asking if the Vendor has accepted his offer. You explain to him that contracts are about to be exchanged and that the property is no longer for sale. Allister is very angry; he believes that the property was his as he had paid $5,000 to take the property off the market. He would have been prepared to pay $20,000 more than the Rajib Singh. Review Schedule 2 of the Property Stock and Business Regulations 2014. 1. Explain what could have averted this problem Part 2 Kurt and Annika have just signed a 12 month lease. Kurt came home from work to find a For Sale sign had been erected on their front lawn. They are very concerned. On Saturday morning they were even more upset when they saw 10 people waiting on the footpath expecting to inspect the property. When the agent turned up, Kurt and Annika refused to let him show the property. They also refused to agree on a further 3 inspections that the agent had organised for that week. Review the Residential Tenancies Act 2010. Explain what could have been done to averted this problem Type Answer Here PART C – Workplace Situation Activities For Part C of the assessment you are required to read the scenario and complete the required documents. There are templates for all practical activities. You may be required to refer to Excellence Property Policies and Procedures that are included in the resource section. Continuing from Extended Questions Answer 1 Develop a document that you can hand out during your presentation. Include diagrams and/or screen shots. Documents to be uploaded 0 Presentation Handout Workplace Situation Activity 2 Continuing from Extended Question Answer 2 1. Develop a document register that could be used to track changes to legislation. 2. Update your register with 5 different legislative instruments 3. Using your research completed in Extended Answer Question 5 complete the register to show the history of changes, the person responsible for updating the register and how the information was distributed to agency staff 4. Write an email to staff informing them of the updated information To: CC: Subject: Type Email here Document to be uploaded 0 Completed Document Register Workplace Situation Activity 3 Access REI website hot topics. Choose either swimming pools, under quoting or strata reforms and create a summary document that gives an accurate interpretation of the applicable legislation. Type your Summary Document here Workplace Situation Activity 4 Create a fact sheet that could be given to new employees that will assist them to understand ethical behaviour and comply with relevant industry codes. You should refer to your answer to Short Answer Questions 6 Document to be uploaded 0 Fact Sheet Workplace Situation Activity 5 Refer to Extended Question Answer 5 1. Create an email to Rajib Sing to explain the requirements of a holding deposit 2. Write a letter to Kurt and Annika to advise them of the sale of the property, including the requirements for inspections. To: CC: Subject: Type Email here Type Letter here Office use only Date received Method of receipt  E-mail  Post  Hand Delivered (Assessment Box – Ground Floor) CPPDSM4015B Minimise agency and consumer risk BSBLED401 Develop teams and individuals STUDENT DECLARATION I hereby submit these assessment tasks for the unit listed above and certify 0 Yes • that all work contained therein has been completed by me 0 Yes • that no part thereof has been completed or copied from any other person 0 Yes • I have referenced and/or acknowledged all necessary authors 0 Yes • I have kept a copy of my assessments 0 Yes • I understand REINSW is not responsible for assessments lost in transit 0 Yes • I will resubmit at my own cost and time in the event I do not keep a copy of my assessment 0 Yes • I understand that REINSW will provide my employer upon request, access to my training records and results (where the employer is funding this learning) 0 Yes • I understand that federal and state agencies have the right to access any of my assessment materials for auditing and monitoring purposes 0 Yes • I consent that REINSW may use my de-identified assessment for internal moderation and validation purposes 0 Yes • I understand that if a third party requests my results that REINSW will only do so with my written permission 0 Yes Student Full Name (print) Student ID Contact Number Home Address Student Signature Date STUDENT INSTRUCTIONS 11. I have read the Student Handbook found at: http://www.reinsw.com.au/Student-Handbook/default.aspx 0 12. I will keep my documents safe and secure at all times 0 13. If I am unclear of any part of this process, I will contact the REINSW Assessment Centre • Phone: (02) 9264 2343 • Email: [email protected] 0 14. I will answer all questions using the Study Guide and/or Information as reference tool. Note: the number of lines provided for each response is indicative only and it is not a requirement that you fill all lines 0 15. Where necessary, I have attached supporting documents which are clearly identified in line with the specific question 0 16. Where required, I have completed any agreements, forms and contracts required for this assessment. I have done so in FULL and understand that partial completion will not be accepted 0 17. I have read, dated and signed the Student Declaration at the front of this Assessment 0 18. I have authenticated this work is mine and signed each page of this assessment 0 19. I have taken a photocopy of my completed Assessment and any written submissions. Note: REINSW take no responsibility for lost assessments during transit. 0 20. I will return my completed assessment to: Post : REINSW House, PO BOX A624, Sydney South, 1235 Email: [email protected] 0 Your Results • If your assessment is found to be not competent, you will be provided with clear feedback on what additional information is required via the student assessment record form and/or verbally. • To check the progress of your assessment, you are welcome to call (02) 9264 2343. Assessment Information Assessment for this unit covers the elements and performance criteria for the unit of competency • CPPDSM401
5B Minimise agency and consumer risk. • BSBLED401 Develop teams and individuals • This unit forms part of the CPP40307 Certificate IV in Property Services (Real Estate) under the Australian Qualification Framework and; • Licensing under NSW Fair Trading. Assessment structure This assessment consists of: • Part A– Short Answer Questions • Part B – Extended Answer Questions • Part C – Workplace Situation Activities • Part D – Multiple Choice Questions PART A – SHORT ANSWER QUESTIONS For questions in Part A, you will need to provide answers that directly address the question, you may answer in point form. Ensure that you answer all parts of the question Question 1 a) Give a definition of risk as you understand it b) How could you relate the benefits of risk management to stakeholders? Question 2 What are the benefits of risk management? How would you undertake a risk audit? Question 3 a) Discuss the value of policies, procedures and systems in order to manage risk. b) What is the value to the agency of having policies, procedures and systems documented in writing? Question 4 a) What are two sources of risk in an agency? b) Explain two options for treating these risks. Question 5 a) Why is it important to establish the risk management context and understand stakeholders? b) Why is it important to evaluate and monitor the risk management process? Question 6 Outline the steps you would take to create learning opportunities in the workplace. Question 7 What processes and procedures can be used to facilitate and promote workplace learning? Question 8 How would you encourage team members to evaluate their own performance and identify areas for improvement? Question 9 Why is it necessary to monitor the effectiveness of workplace learning opportunities and programs? Outline ways in which this could be done. Question 10 Explain how you would go about developing a workplace learning plan for: 1. An individual 2. A team 1. 2. PART B – Extended Answer Questions For question in Part B you will need to refer to the Case Study and the Activities Workbook you completed in class. Responses to questions need to be in depth, if you consult websites or publications to construct your answer you MUST reference your source. It is expected that you would provide your evidence in a word document, professionally formatted, with attention to grammar, spelling and punctuation. Your evidence for Practical Activities should be in a format that is acceptable in industry and of a quality that could be used in a real life situation. Read the case study carefully and ensure that you answer all the facets of the question. ALL answers are to be based on the CASE STUDY Case Study Rickardo’s Realty is a family owned agency that has been operating for over 10 years. They specialise in residential sales and property management and have a rental portfolio of 250 properties. Rickardo’s Realty originally had a strong hold on the local market and in 2015 moved to larger premises, however lately that seem to be losing market share. When Rickardo’s moved to the new premises, they decided to diversify and add a commercial sales and leasing department. At first they had some positive response from some of the residential landlords who have both residential and commercial properties, but have not been able to attract new business. Rickardo who is the Licensee has a staff of: Name Role Experience Rose Property Management Supervisor 12 years Erica Property Management Associate 3 years with another agency, 3 months with Rickardo’s Roger Property Management Representative Just starting out in residential management Edward Property Sales Supervisor 6 years Regina Property Sales Associate 2 years Harry Property Sakes Representative 6 months Samuel Commission Only – Commercial Sales 20 years residential, 5 years commercial Roxanne Sales Support Is responsible for advertising, research for property appraisals and liaising with solicitors 1 year, wants to be a sales person Rebecca Reception 2 weeks on the job Rosalind Rickardo’s wife Accounts and helps with property management Does not hold a certificate of registration Ricky Jnr Rickardo’s son Commercial Sales (will be the head of the department) Recently completed licensing course and gained licence (no experience) Renata Rickardo’s daughter Reception on weekends Still at school Rickardo recognises that here are a number of issues at his agency: • Property management department: o Losing managements – six in the last 3 months o Rose is often away from the office at NCAT, so none is available to handle commercial management enquiries o No new commercial managements in the last six months • Sales department o Unable to convert residential listing presentations into listings o Deadlines for advertising missed – some properties not advertised o Only 1 commercial sales listing • Customer complaints, mostly about lack of follow up to enquiry and problems • Staff morale is not good, Harry often comes into work late and leaves early. Roxanne gets upset with salespeople and is often heard complaining that she is overloaded and can’t get all her work done. • Rickardo is very concerned that the agency lost a large sales commission due to a mistake in an agency agreement. He doesn’t blame Edward, but worries that the same mistake could happen again • The agents at Rickardo’s have been giving market appraisals without doing any real research and there is no formalised process for documenting any comparable sales analysis, or adjustment of market opinion. They have gotten into the habit of informing the Vendor verbally of their opinion and price adjustment. Rickardo and Rosalind realise that if things do not improve that will have to sack some of their staff. They are hopeful that as the market improves, things will get better. Rickardo’s has a policy and procedure manual that was developed about 5 years ago, but no one has had time to update it to include new requirements in regards to under quoting and swimming pool legislation. Recently Rickardo implemented a new KPI for the residential sales department that requires all sales agents to get exclusive listings at a commission rate of 2.75% and Vendor paid advertising. (Previously advertising was included in the commission rate and some agents are not comfortable asking for vendor contribution for advertising). Question 1 At Rickardo’s Realty, there are significant risks to both the agency, clients and stakeholders. Give an overview (in a report) of what the risks are and how they relate to: • The Licensee in Charge • Agents employed by the agency • Clients Categorise the risk in terms of: • Financial • Personal • Reputational • Legal – Compliance with legislation Refer to supervision requirement under Section 32 Property Stock and Business Agents Act 2002 RISK MATRIX Identified risk Area of Risk Financial, Reputation, Personal, Legal Likelihood of risk Consequences Level of risk V Question 2 Analyse the causes and potential impact of the risks to the agency, clients and stakeholders and discuss suitable agency procedures and systems to minimise risk. Report your findings in a table with headings • Agency • Clients • Stakeholders Question 3 You have previously identified a number of training needs required by the staff at Rickardo’s Realty. 1. Prepare a report that gives an overview of the training and development needs (Training Needs Analysis) of the staff members, the main problems that you identified and what training you would recommend for each member of staff. Report 2. Recommend a training strategy, which includes the type of training, number of training sessions, who should attend each training session and other activities that might support personal and team improvement. Identify the resources that may be required, costs (time and resources) and impact on agency practice. Training Strategy Question 4 1. Discuss a str
ategy for giving and receiving feedback form team members. This strategy should include ways to effectively encourage participation in and the effectiveness of the team. 2. Discuss how you would use the feedback from the team to implement improvements and future learning opportunities. 3. How would you record the outcomes and performance of individuals? Question 5 As the morale at Rickardo’s Realty is quite low, you have been asked to recommend a team building activity that focuses on communication. You have been given a budget of $2,000 and Rickardo has indicated that he is prepared to close the office for a day to allow everyone to attend. Research an event that could be suitable, this may include having a guest speaker or facilitator. Prepare a letter to Rickardo with your recommendations. PART C – Workplace Situation Activities For Part C of the assessment you are required to develop documents that relate to your answers in Part B Your evidence for Practical Activities should be in a format that is acceptable in industry and of a quality that would suitable for use in a real life situation. Activity 1 Develop a risk matrix in relation to question 1 Part B Documents to be uploaded 0 Risk Matrix Activity 2 Develop a policy and procedure to address one of the identified risks and design a checklist that could support your procedure. (Base your checklist on an area that has legislative requirements). Type your policy and procedure here Documents to be uploaded 0 Checklist Activity 3 Develop a calendar of training events for a period of 6 months that includes at least 1 training event for each member of staff and 1 group event. Documents to be uploaded 0 Calendar of Training Events Activity 4 Develop a performance appraisal document. Documents to be uploaded 0 Performance Appraisal Document Activity 5 Prepare a training session plan for the day, include activities, venue, timings, guest speaker etc. Documents to be uploaded 0 Training Session

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