CPPREP4102_AE_Kn_1of3_LMS

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School

TAFE NSW - Sydney Institute *

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Course

41419

Subject

Business

Date

May 9, 2024

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docx

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Uploaded by CaptainDuckPerson1026 on coursehero.com

Knowledge Assessment 1 of 3 Criteria Unit code, name and release number CPPREP4102 - Market property (1) Qualification/Course code, name and release number CPP41419 - Certificate IV in Real Estate Practice (1) Student details Student number 801529186 Student name Theresa Vy Phuong Pham Assessment Declaration This declaration only needs to be completed if you are not submitting your assessment online. This assessment is my original work and no part of it has been copied from any other source except where due acknowledgement is made. No part of this assessment has been written for me by any other person except where such collaboration has been authorised by the assessor concerned. I understand that plagiarism is the presentation of the work, idea or creation of another person as though it is your own. Plagiarism occurs when the origin of the material used is not appropriately cited. No part of this assessment is plagiarised. Student signature and Date Theresa Vy Phuong Pham 10/07/2023 Document title: CPPREP4102_AE_Kn_1of3_LMS Page 1 of 21 Resource ID: TBS_19_001_CPPREP4102_AE_Kn_1of3_LMS STUDENT NAME:

Version: 20210116 Date created: 8 January 2020 For queries, please contact: Technology and Business Services SkillsPoint TAFE NSW Ultimo © 2020 TAFE NSW, Sydney RTO Provider Number 90003 | CRICOS Provider Code: 00591E This file can be found at: Learning Bank The contents in this document is copyright © TAFE NSW 2020, and should not be reproduced without the permission of the TAFE NSW. Information contained in this document is correct at time of printing: 7 May 2024. For current information please refer to our website or your teacher as appropriate. Document title: CPPREP4102_AE_Kn_1of3_LMS Page 2 of 21 Resource ID: TBS_19_001_CPPREP4102_AE_Kn_1of3_LMS STUDENT NAME:

Assessment instructions Table 1 Assessment instructions Assessment details Instructions Assessment overview The objective of this assessment is to assess your knowledge as would be required to market a property for sale or lease. Assessment Event number 1 of 3 Instructions for this assessment This is a written assessment and will be assessing you on your knowledge of the unit. This assessment is in one part:  Short answer questions The assessment also contains an assessment feedback form. Submission instructions Where possible, complete and submit this assessment online via the TAFE NSW online learning platform. Upload all the required assessment files in the assessment area on the online learning platform. Alternatively, hand all required assessment files to your assessor for marking. Make sure you have added your name to the bottom of each page of the assessment. It is important that you keep a copy of all electronic and hardcopy assessments submitted to TAFE NSW and complete the assessment declaration when you submit the assessment. What do I need to do to achieve a satisfactory result? To achieve a satisfactory result for this assessment all questions must be answered correctly. What do I need to provide? Computer with internet access and Microsoft Office. What the assessor will provide? Access to this assessment and supporting online resources. Due date and time Fully online students should refer to their Training Plan for due Document title: CPPREP4102_AE_Kn_1of3_LMS Page 3 of 21 Resource ID: TBS_19_001_CPPREP4102_AE_Kn_1of3_LMS STUDENT NAME:

Assessment details Instructions allowed dates, other students should refer to the Unit Assessment Guide for due dates. Indicative time to complete assessment event is 3 hours. Supervision This is an unsupervised assessment. You may access your referenced text, learning notes and other resources. Your assessor may ask for additional evidence to verify the authenticity of your submission and confirm that the assessment task was completed by you. Assessment feedback, review or appeals In accordance with the TAFE NSW policy Manage Assessment Appeals, all students have the right to appeal an assessment decision concerning how the assessment was conducted and the outcome of the assessment. Appeals must be lodged within 14 working days of the formal notification of the result of the assessment. If you would like to request a review of your results or if you have any concerns about your results, contact your teacher or head teacher. If they are unavailable, contact the student administration officer. Appeals are addressed in accordance with Every Student’s Guide to Assessment. Document title: CPPREP4102_AE_Kn_1of3_LMS Page 4 of 21 Resource ID: TBS_19_001_CPPREP4102_AE_Kn_1of3_LMS STUDENT NAME:

Part 1: Short Answer Questions To complete this part of the assessment, you will be required to answer all of the questions to demonstrate your understanding of the processes, the legal requirements and your role as an agent in the marketing of properties for sale and rent. Type your answers directly into the spaces provided, the spaces will expand to accommodate your answer. 1. Discuss the role of the agent when providing property marketing advice and plans to vendors. Include the relevant legislation in your response. Your answer should be between 110 and 120 words. The role of a real estate agent in providing marketing advice and plans to vendors is to develop and implement a strategy that effectively promotes the property to attract potential buyers or tenants. This involves conducting market research, setting a competitive price, choosing appropriate advertising channels, and creating promotional materials. Agents must also advise on property presentation and any improvements that could enhance appeal. Relevant legislation includes the Property, Stock and Business Agents Act 2002 (NSW) and the Australian Consumer Law, which mandate truthful advertising and prohibit misleading or deceptive conduct. Agents must ensure all marketing activities comply with these laws, maintaining transparency and integrity throughout the process. By leveraging their expertise and adhering to legal requirements, agents aim to maximize the property's visibility and appeal, facilitating a successful sale or lease. 2. Provide a marketing strategy for the following properties: Property type Strategies Residential sales property The marketing strategy for a residential sales property may include creating an attractive online listing with high-quality photos and virtual tours, holding open house inspections, promoting the property through social media and email marketing campaigns, and targeting potential buyers through online advertising platforms. Additionally, offering incentives such as flexible settlement terms or covering conveyancing fees may also help to attract buyers. Rural property A marketing strategy for a rural property may involve targeting buyers who are interested in farming or recreational activities such as hunting or fishing. This can be achieved through advertising in specialist publications or websites, hosting farm tours or open days, and showcasing the unique features of the property such as water sources, soil quality, and potential for livestock or crops. Utilising Document title: CPPREP4102_AE_Kn_1of3_LMS Page 5 of 21 Resource ID: TBS_19_001_CPPREP4102_AE_Kn_1of3_LMS STUDENT NAME:

aerial or drone photography can also help to showcase the expansive nature of the property. Commercial rental property The marketing strategy for a commercial rental property may include creating an online listing with detailed information on the property's features and amenities, targeting potential tenants through online advertising platforms, and hosting property inspections or tours. Additionally, offering incentives such as rent-free periods or fit-out contributions may help to attract tenants, as well as highlighting the potential for business growth and success in the property's location. Document title: CPPREP4102_AE_Kn_1of3_LMS Page 6 of 21 Resource ID: TBS_19_001_CPPREP4102_AE_Kn_1of3_LMS STUDENT NAME:

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