Explain how you could increase your property management portfolio and what would you do to attract new landlords to your agency.

1. Explain how you could increase your property management portfolio and what would you do to attract new landlords to your agency.
2. Once you have been approached by a prospective new landlord explain in detail the process you would undertake to secure the management.
3. How would you get a good understanding of the landlord’s requirements? How would you explain to them, their responsibilities as a landlord?

“The relationship between principal and agent places an agent in a position of trust, confidence and responsibility in which their foremost duty is to act in the best interests of their client and deal ethically with all parties involved in property transactions.” Go to NSW Fair Trading website (in the search box type duty of disclosure) and review the section Duty of Disclosure.  

1. Explain the requirements of Section 49 ‘Restrictions on obtaining a beneficial interest in property’, how it affects you as an agent and what you would need to do if you or a member of your family wished to purchase property from your agency.
2. Choose another disclosure requirement. Give a detailed explanation of its requirements, an example of how a breach could occur and include penalties for breaches and any documentation requirements or approved forms.

You have successfully negotiated a deal and agreed on terms for the sale of a property. You now need to explain the exchange and settlement process to both the purchaser and the vendor. 

1. Provide an outline of what happens from the purchaser’s perspective, including exchange of contracts, deposit amounts, cooling off periods and pre settlement inspections.
2. Provide an outline of what happens from the vendor’s perspective, including exchange of contracts, deposit and banking of deposit, cooling off periods and pre settlement inspections, order on the agent, disbursements.

Sione, a sales representative, is in the process of negotiating a sale, and finding it difficult to get both parties to come to an agreement. Sione knows the purchaser really wants the property and that the Vendor needs to sell quickly, but the negotiation has come to a stop with only $10,000 difference in price.

Neither party wants to budge, but both want the same outcome.

1. Explain the negotiation techniques that Sione would use to enable the parties to come to an agreement.
2. How could Sione persuade the purchaser to make a better offer?

Lee Kang, a tenant, enters your office and yells at the receptionist that they need to speak with the Property Manager. 

“I have been waiting for 6 weeks to get it fixed”.

Unfortunately, the Property Manager is not available and when the receptionist tells the tenant, he continues yelling “I am not going until I see someone about it!”  

The receptionist asks you to help.

Lee makes a call on his mobile phone and starts speaking very loudly in a foreign language. 

There are a number of people waiting in the reception area and they appear very uncomfortable.

1. Discuss how you would approach Lee in this situation, what conflict resolution techniques would you use, how could you diffuse the situation.

After speaking with Lee, you find that he has requested repairs to the front porch light for over 6 weeks ago and last night his wife tripped up the stairs and seriously injured her leg. You are finding it difficult to understand him as his English is not good.

2. What communication techniques would you use to enable both Lee and yourself to discuss the situation and come to a satisfactory resolution?

Your tenants, Jacob and Naomi, have asked to terminate their tenancy agreement. Originally, they took out a 12 month tenancy agreement and have been living in the property for 7 months. Jacob has been transferred to a new position in Victoria and must start in 3 weeks time.

1. What are the options for Jacob and Naomi?
2. Explain the steps you would take to finalise the end of tenancy and the outgoing inspection
3. What would you do if the property was damaged or left in a dirty condition and the tenants do not think they are at fault? How would you resolve this dispute?