ASSESSMENT TASK 2 – Short Answer Questions
Please review the questions below and answer in 200 words / 1-2 paragraphs or less (unless advised otherwise).
- Give three (3) reasons for why having a well-respected personal and agency brand is so important in real estate
- 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.
- There are three (3) types of property inspections. In your own words, provide a brief explanation of each method.
- private views
- open home
- virtual tour
- In your own words, provide a brief explanation of each method.
- Explain how you would disclose any issues with the property that may influence a buyer’s decision.
- Explain how you would deal with any conflicts or breaking through any deadlocks during the negotiation stage.
- 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…
- the vendor?
- the buyers?
- the agent?
- 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.
- In your own words, explain the salesperson’s role when negotiating between the buyer and the vendor.
- 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.
- Explain each of the following and the impact each has on property law relating to the sale of property:
- definitions of property
- In your own words, explain the term ‘counter offers’ and how it is used.
- Explain why it is recommended that the buyer take out building and contents insurance, effective from the date of signing the contract.
- 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.
- Outline, in your own words, what should be included in a Section 32 Vendor Statement.
- Explain the cooling-off period in full (see Section 31 of the Sale of Land Act 1962).