CPD20 ASSESSMENT ANSWERS

Assessment Answers to CPD ELECTIVE 2020
for Trainer use only

CPD Elective Step 1 of 2

  1. DocuSign Download – Complete the
    Elective CPD paper sample here pdf
  2. Answer question 4a and 4b  only

CPD Elective Step 2 of 2

 2. DocuSign Download and complete the

Portfolio documentation

SAMPLE HERE

CPD Elective email addresses for OPENN login

Sign into www.openn.com.au.

GMAIL

Openn.agent1@gmail.com

Openn.agent2@gmail.com

RFopenn.buyer1@gmail.com

RFopenn.buyer2@gmail.com

 

All passwords openn123

CPD Elective email addresses for OPENN login

Sign into www.openn.com.au

YAHOO

Openn.agent@yahoo.com

Openn.agent1@yahoo.com

Openn.agent2@yahoo.com

Openn.buyer1@yahoo.com

 

All passwords openn123

CPD Elective – SAMPLE ANSWER

4.1 As the listing agent your property is two weeks into the marketing campaign. You’ve had 11 groups of people inspect the property with 2 buyers interested making one low bid each. None seems to want to continue biddings …

Discuss how you might reignite the process with

  1. a) the buyers to encourage further bidding
  2. b) the vendors to adjust the reserve price?

Sample answer Q 4.1 a)

  • Contact all interested parties that have inspected and viewed property to establish who is interested and can bid with confidence
  • anyone that has lodged an online bid or has engaged as an observer, the agent should contact them keeping them engaged and gather feedback

Sample answer Q4.1  b)

  • report feedback to vendor and understand their position on ‘reserve price’ leading up to the final bidding stage … the aim is to obtain the highest possible price for your vendor and to do that bidders must stay motivated, keep them engaged and improve/increase their online bids
  • Consider, that once bidding has been exhausted it might be a good idea to gain approval from vendor to bring forward final bidding stage to re-ignite the bids
    e. generate FOMO (fear of missing out). Great buyer motivation.
  • By changing final bidding stage online, the system will auto generate notification to all bidders that the auction has been brought forward and time is running out. This action creates urgency with a view to reigniting interest  – improve your bid or risk missing out on the property you love

Assessment Answers to CPD COMPULSORY 2020
for Trainer use only

DOWNLOAD – or use DocuSign version of Assessment

assessment paper

check your email for DocuSign assessment paper

Download Learner Guide for

Reference to legislation links

Learner Guide

Download and complete the RETS Enrolment form

Enrolment Form

and return to evelyn@realfocus.com.au

Real Estate Reforms

  1. A. Property and Stock Agents Act 2002 and Regulation 2014
  2. C. Sign a sales or management agency authority
  3. A. authorise withdrawal from a trust account held by owners corporation
  4. D. 200 penalty units ($22,000)
  5. D. All of these
  6. B. 6 hours CPD
  7. B. real estate, stock and station, strata
  8.  C. assistant agent, class 2 license, class 1 license
  9.  D. licensee in charge is the only person in the agency who can authorise withdrawal of trust finds
  10.  D. the vendors of the property are in an acrimonious divorce

Rules of Conduct

  1.  E. all of these
  2.  D. both A and C
  3.  B. calendar month
  4.  B. $60
  5.  A. Angie must have both a sales and rental trust account
  6.  D. all properties listed for sale (residential and commercial) and all business
  7.  A. Property and Stock Agents Regulation 2014 Schedule 2, Part 1, Rule no. 3A
  8.  C. Schedule 2 Part 2
  9.  C. Schedule 6
  10.  A. 18

Risk Management

  1.  A. 2 business days
  2.   False
  3. C. toughened/tempered safety glass
  4.  D. All of these
  5.  False
  6.  B. If there is a safety risk at an open for inspection, you should put up a warning sign.
  7.  D. all of these