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Case Studies Scenarios in CPP40307 Certificate of Registration Real Estate NSW
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Looking for CPP40307 Certificate IV in Property Real Estate Case Studies and Annexure? CPP40307 Certificate IV in Property Services (Real Estate). One-on-one trainer tuition and assessment answers case Studies scenarios in CPP40307 Certificate of Registration Real Estate NSW, Australia.
Professional Practice Assessment Answers by Case Studies and Annexure
Case Study –Jennifer Reilly
Jenifer has just listed a magnificent property for rent and is thrilled that she was able to convince the landlord to pay 7.7% management fees and an administration fee of $25 per month. It was an easy task as the landlord does not speak English well and cannot read or write in English. The landlord did not question the rate after Jennifer explained that this is the standard rate for the agency. While they may occasionally get this rate, most of the time it is 5.5% and $10 per month administration fee.
Jennifer also convinced the landlord that the property needed new guttering before they could allow tenants to move into the property. Jennifer’s brother has a roofing company and she has given him the landlord’s personal details without the landlord’s consent.
As Jennifer knows that the landlord has financial difficulties and needs to have the property rented as quickly as possible, she has given the landlord a rental estimation that is well below the current market rate.
Case Study – Anna Thompson
Anna Thompson is a new landlord at your agency. She has had her investment property for 10 years and during this time she has had five different agencies handling the management. It is clear to say that she has not have a good experience and hold little faith in property managers.
Anna Thompson appears to be pedantic and difficult, but when discussing the issues, she has faced you soon realise that she has a right to be feeling apprehensive and nervous about placing her property with another property manager. The issue over the past ten years include:
A lack of communication – Anna felt that she was always “left in the dark”. She always had to initiate telephone contact, there appeared to be not strategy to when and how the previous manager made contact.
No follow up – when there was an issue with the property, Anna would always have to do the follow up
Poor problem correction – previous property manager had poor conflict resolution skills. When there was a problem, it appeared that was not dealt with until it reached crisis point.
Lack of information – Anna would read about changes to legislation, again it was Anna who had to ring the agency to get clarification. Anna felt that tenants’ rights were more important than that of the landlord. Anna just want to feel that her property manager has her best interests at heart.
Case Study – Mr Ferraro
Last week an agent met with an elderly man, Mr Ferraro from Lennox St, who is hoping to sell his home and buy into a retirement village.
Mr Ferraro is adamant the he must achieve a sales price of $850,000, otherwise there is no point in him selling.
He has made it very clear that he’s not interested in what the agent thinks the selling price should be.
He doesn’t want any fuss, reports or paperwork, just a quick sale at his price. He is most enthusiastic about getting the property on the market as soon as possible and want the agent to show the property whenever there is a suitable buyer. The agent has advised him that they need to go back to the office and start the paperwork, and on the way out Mr Ferraro shows where he hides the spare key in case he’s not home.
Although not officially listed, the agent has decided to show the property to a potential buyer who is keen on buying in Lennox St and has recently exchanged contracts on their property and they are starting to get desperate. Even though the agent believes Lennox St is overpriced at $850,000, they realise that the buyer’s situation will overcome the high price.
The agent meets the buyer at the property and proceeds to use the spare key to gain access, (Mr Ferraro is not at home and has not responded to voice mail). Unfortunately, Mr Ferraro was hospitalised three days ago and is unlikely to return home.
The agent proceeds to open up and show the buyer the home. Hearing a noise out the front, the agent suggests to the buyer that they wait out the back whilst they see who’s at the door. The agent is greeted by a man (Mr Ferro’s son) who is yelling and demanding to know what is going on and has called the police.
Loud barking is heard from the backyard and both the agent and son race around the back to find the buyer bailed up along the fence by two viciously growling and barking dogs. Fortunately, the son could calm the dogs and no physical harm has befallen the buyer.
Annexure 1 Company Details
|Company||Property Professionals Pty Ltd||ACN 456 359 249|
|Corporation Licence Number||11892|
|Trading as||REAL Property Professionals||ABN 123 456 359 249|
|Licensee in Charge||Allan RobertsReal Estate AgentStock and Station Agent
|LIC Number 265398|
With magnificent views of the River from the back balcony this home has been well maintained both inside and out.
Ideally located within a short stroll to local shopping and some of the area’s popular eateries.
On entering the home you are welcomed by a spacious foyer which leads up the timber stair case to the open plan living area and modern kitchen with quality appliances and finishes.
Downstairs is a self-contained studio space with kitchenette and bathroom tiled throughout for low maintenance and an ideal space for granny flat or teenagers retreat.
Adding to the home is:
• A triple car garage, with space for a workshop – the ideal man shed
• Landscaped gardens and fully fenced yard
• Ability for a lift to be installed
Reference ID: #getanswers2001251