CPPDSM4008A Identify the legal and ethicalrequirements of Property Sales to complete agencyworkQ1.You have been asked to list a property for sale. The elderly owners are thinkingabout listing the home with a number of real estate agents. Your investigationsreveal that they are not experienced sellers. You believe it is in their best intereststo list the property with just one agent and need to communicate this to them.Describe 5 benefits of listing with just one agent that will suit the particular needs ofthe seller and demonstrate that you are empathetic to their circumstances.Q2.The couple in Q1 want to know what their property is worth. Outline what documentyou will use to demonstrate market price and what support materials you will use tohelp determine a fair listing price.Q3.What other searches would you conduct and what other information would you wantto know before finalising your opinion of fair market price? You must be able to raiseat least 5 matters that you would be checking.Q4.Before you can offer the property for sale, what must you do? Your answer shouldinclude:o Who you would liaise witho What documents must be preparedo Where the documents are to be keptQ5.The elderly couple have not sold before and ask you to explain the process forexchange of contracts. How would you explain to them the selling process involvingexchange and completion of the sale?Q6.The sellers also query how you are paid your commission and whether they have tohave spare cash set aside to pay you? Explain how an agent draws commissionand accounts to the property owner where they are holding a deposit on a sale.Q7.You have some buyers who are interested in acquiring the property. You haveheard from a friend who works with the local council that they may be resuming theroadway in front of the home for a new arterial road. The searches conducted by theseller’s solicitor did not reveal this information.7a. Should you tell the buyers? You answer should refer to your legal andethical obligations under these circumstances.7b. How would you manage this scenario and whose expertise would you callupon?Q8.Assume that you have just met a potential seller who is thinking about listing hisinvestment property with you. Provide 2 open ended questions that you might ask toascertain information.Q9.You have successfully secured the listing. What communication strategy would youadopt to build rapport and keep the client informed during the sales process? Youranswer should include a discussion of:o What modes of communication you will useo How regularly you will communicate ando oThe content or nature of your communications
