REAA - CPPREP4101 and CPPREP4504 - Written Questions v1.2

CPPREP4101 - Appraise property for sale or lease (Release: 1)
CPPREP4504 - Deliver presentations to clients in real estate (Release 1)

Written Questions
Written Questions
Page | 1 of 31
© Real Estate Academy Australia Version 1.4 – March 2022
RTO 32426
Written Questions
What you need to do:

For this assessment task you will undertake research and report on various aspects
of working in the real estate industry. A template has been provided to you to use to
structure your report to cover all the required information.
You are required to answer all questions correctly. If correct, you will see
‘Satisfactory’ or if incorrect you will see ‘Not Satisfactory’ in your grades section of
your learner portal next to the assessment name. The assessor will provide
feedback and a Record of Results in the assessment task once graded. You will be
required to resubmit your work for any ‘Not Satisfactory’ assessment tasks.
What you will need:

You will need to research information about real estate agencies to assist with your
responses for this task.
Use the learner material provided in your online student portal as well as research
materials such as books, internet, magazines, workplace documentation etc. to
assist you in gaining the knowledge required to answer the questions. Remember
that the assessment is completely self-paced and open book, so you are able to use
whatever resources you have to answer the questions.
What you need to submit:

The answers to these questions.
How to Submit your Assessment:

Upload your completed document into your learner portal following the instructions
within the assessment task.
You can drag and drop the file into the window or use the add file icon in the top left
of the submission window and select the file you wish to upload by using the
browse/choose file option.
Click on “finish attempt” to submit it for grading.
Page | 2 of 31
RTO 32426
Written Questions
Question 1
List sections of the legislation that apply to conducting a property appraisal.
In the context of the Residential Tenancies Act 1997 (Victoria, Australia), the
sections that may apply to conducting a property appraisal could include:
1. Section 65 - Entry to rented premises for valuation purposes: This section

outlines the conditions under which a landlord or their agent can enter the
rented premises for the purpose of assessing its value.
2. Section 66 - Entry to rented premises for repairs and maintenance: While

not directly related to appraisal, this section might be relevant as it allows
entry for repairs and maintenance, which could impact the property's value.
3. Section 67 - Entry to rented premises by landlord: This section specifies the

circumstances under which a landlord can enter the rented premises, which
might include for valuation purposes.
4. Section 68 - Entry to rented premises by landlord's agent: Similar to section

67, this section pertains to entry by the landlord's agent, which might
include for valuation purposes.
5. Section 69 - Tenant's right to be present during entry: This section outlines

the tenant's rights regarding being present during entry for various
purposes, including valuation.
6. Section 70 - Time of entry for valuation purposes: This section specifies the
times during which entry for valuation purposes is permitted.
7. Section 72 - Consent required for entry: This section stipulates that entry for
valuation purposes requires the tenant's consent, except in certain
circumstances.
8. Section 74 - Compensation for interference with tenant's privacy or

Page | 3 of 31
RTO 32426
Written Questions
reasonable peace, comfort, or privacy: This section could be relevant if the

appraisal process causes disruption or interference with the tenant's
enjoyment of the premises.
It's important to review the specific provisions of the legislation and seek legal
advice if needed to ensure compliance with all relevant requirements.
Question 2
A client has phoned in a complaint about a recent property appraisal that was
conducted at their home.
They have indicated that the agent was talking on his phone at the time of arriving at
the property after being 10 minutes late and the client felt dismissed by the agent
and was no longer wanting to work with the agent to sell her property.
Page | 4 of 31
RTO 32426
Written Questions
In 100 – 150 words explain the communication strategies (what you would do or say)
you would use to respond to client’s complaints.
In responding to the client's complaint, I would first acknowledge and apologize for
any inconvenience or discomfort caused by the agent's behavior. I would assure
the client that their concerns are taken seriously and that I am committed to
addressing them promptly.
I would then explain that I will investigate the matter further to understand what
happened and ensure that such incidents are not repeated in the future. I would
offer to arrange for a different agent to conduct the appraisal if the client is still
interested in selling their property.
It's important to convey empathy, understanding, and a willingness to take action

to resolve the issue. I would also emphasize the importance of clear
communication and professionalism in all interactions with clients.
Question 3
What is the difference between a property appraisal and a property valuation?
The terms "appraisal" and "valuation" are often used interchangeably, but there
are subtle differences in their meanings, particularly in the context of real estate:
Property Appraisal: An appraisal is typically conducted by a licensed appraiser and
Page | 5 of 31
RTO 32426
Written Questions
involves estimating the value of a property based on various factors such as its
condition, location, comparable sales in the area, and market trends. Appraisals
are commonly used in real estate transactions to determine a property's market
value for lending purposes or to establish a listing price.
Property Valuation: Valuation is a broader term that encompasses various

methods used to determine the value of a property. While an appraisal is a type of
valuation, other valuation methods, such as the income approach or the cost
approach, may be used depending on the purpose of the valuation. Valuations are
often more comprehensive and may involve a deeper analysis of the property and
its surrounding market.
In summary, while both appraisals and valuations aim to estimate a property's

value, appraisals are a specific type of valuation that focuses on determining
market value for specific purposes, such as real estate transactions.
Questions 4
Complete the table below in reference to how each of the listed property attributes
impact on the agent’s appraisal of the property.
Property Attribute Explain the Positive/Negative Impact of your example
a. Building construction - Asbestos can pose health risks and may require
Asbestos costly removal or management, reducing property
value.
Page | 6 of 31
RTO 32426
Written Questions
b. Building construction – Positive impact: Steel frames are durable and low
steel frame maintenance, potentially increasing the property's
value and appeal.
c. Aesthetic and design Positive impact: Neutral colors can appeal to a wide
features – e.g. Neutral range of buyers, increasing the property's
colour palette marketability and value.
d. Faults and hazards - Negative impact: Faults and hazards can decrease
property value and may deter potential buyers or
require repair costs.
e. Building improvements Positive impact: Well-executed improvements can

and modifications enhance the property's value and appeal to buyers,
increasing its market value.
f. Property condition and A well-maintained property with good presentation
presentation can attract more buyers and potentially increase its
value.
g. Heating, cooling and Heating, cooling, and ventilation systems
ventilation systems Positive impact: Efficient systems can
improve comfort and energy efficiency, increasing
the property's value.
h. Energy efficiency and Positive impact: High ratings indicate lower running
sustainability ratings costs and environmental impact, potentially
increasing property value.
Page | 7 of 31
RTO 32426
Written Questions
Question 5
List and explain (3) reasons that an owner may contact an agent for an appraisal on
their property?
Owners may contact an agent for an appraisal of their property for several
reasons:
Selling the Property: One common reason is to determine the market value of the
property in preparation for selling it. An appraisal helps the owner set a realistic
asking price based on current market conditions and comparable sales in the area.
Refinancing or Securing a Loan: Owners may also seek an appraisal when

refinancing their mortgage or securing a loan against the property. Lenders often
require an appraisal to ensure that the property is worth enough to cover the loan
amount.
Estate Planning or Divorce: In situations involving estate planning or divorce, an

owner may need an appraisal to determine the property's value for legal or
financial purposes. This valuation can help ensure fair distribution of assets or
settlement agreements.
Overall, an appraisal provides owners with valuable information about their

property's worth, helping them make informed decisions regarding its sale,
financing, or other important matters.
Page | 8 of 31
RTO 32426
Written Questions
Question 6
What source documents need to be obtained and analysed for property appraisals?
For property appraisals, the following source documents are typically obtained and
analyzed:
Property Title Deed: This document provides information about the legal
ownership of the property and any restrictions or encumbrances that may affect its
value.
Survey Plans: Survey plans show the boundaries of the property, its dimensions,
and any easements or rights of way that may impact its value.
Building Plans: These plans provide details about the property's construction,
including its layout, dimensions, and materials used, which can affect its value.
Recent Sales Data: Information about recent sales of comparable properties in the
area is used to determine the property's market value.
Rental Agreements: For rental properties, rental agreements provide information

about the property's rental income, which is used to estimate its value.
Property Inspection Reports: Reports from property inspections provide details

about the property's condition, including any defects or maintenance issues that
may affect its value.
Council Records: Council records provide information about zoning regulations,
Page | 9 of 31
RTO 32426
Written Questions
building permits, and other factors that may impact the property's value.
Valuation Reports: Any previous valuation reports on the property can provide
insights into its value and factors that may have changed since the last valuation.
Market Trends and Economic Data: Information about market trends, economic
conditions, and local factors that may impact property values are also considered.
By analyzing these source documents, appraisers can make an informed

assessment of the property's value based on its characteristics, market conditions,
and other relevant factors.
Page | 10 of 31
RTO 32426
Written Questions
Question 7
What are (4) examples of indicators that can be used to measure the sales market?
There are several indicators that can be used to measure the sales market in real
estate. Here are four examples:
Median Sales Price: The median sales price is the middle point of all the sales
prices of homes sold in a particular area during a specific period. It provides a
general indication of the market's overall price trend.
Days on Market (DOM): This indicator measures how long it takes for a property to
sell after it is listed on the market. A shorter DOM may indicate a strong seller's
market, while a longer DOM may suggest a buyer's market.
Sales Volume: Sales volume refers to the total number of properties sold in a
specific area during a certain period. It can indicate the level of activity and
demand in the market.
Inventory Levels: Inventory levels, also known as the months' supply of inventory,
represent the number of months it would take to sell all the current listings on the
market at the current sales pace. Low inventory levels typically indicate a seller's
market, while high levels suggest a buyer's market.
These indicators, along with others such as price-to-rent ratio, foreclosure rates,
and housing affordability index, can provide valuable insights into the health and
trends of the real estate sales market.
Page | 11 of 31
RTO 32426
Written Questions
Question 8
What are (3) physical indicators/signs of wear and tear and defects that may affect
your property appraisal?
Physical indicators of wear and tear and defects that may affect a property's
appraisal include:
Cracks in Walls or Foundation: Cracks can indicate structural issues or settlement

problems, which can significantly impact the property's value.
Water Damage: Stains, mold, or mildew caused by water damage can suggest
plumbing leaks, roof issues, or poor drainage, all of which can affect the property's
value.
Roof Condition: Signs of an aging or damaged roof, such as missing shingles,

sagging, or leaks, can indicate the need for repairs or replacement, which can
impact the property's appraisal value.
Page | 12 of 31
RTO 32426
Written Questions
Page | 13 of 31
RTO 32426
Written Questions
Question 9
What is the role of the agent and real estate personnel in providing property
appraisal, price range and rental value recommendation?
The role of agents and real estate personnel in providing property appraisal, price
range, and rental value recommendations is to provide informed and objective
assessments based on market knowledge and expertise. This involves several key
responsibilities:
1. Property Appraisal: Agents and real estate personnel assess the property's
value based on factors such as its location, size, condition, and comparable
sales in the area. They use their knowledge of the local market to provide
an accurate appraisal that reflects current market conditions.
2. Price Range Recommendation: Agents and real estate personnel help

sellers determine an appropriate price range for their property based on the
appraisal, market trends, and the seller's goals. They consider factors such
as the property's unique features, competition in the area, and the needs of
potential buyers.
3. Rental Value Recommendation: For rental properties, agents and real

estate personnel assess the property's rental value based on similar rental
properties in the area, demand for rental properties, and the property's
condition. They provide recommendations that align with market rates and
the owner's rental goals.
Overall, agents and real estate personnel play a crucial role in helping property
owners make informed decisions about pricing and rental value, ensuring that
properties are priced competitively and attractively in the market.
Page | 14 of 31
RTO 32426
Written Questions
Question 10
Explain in 100 – 200 words professional and ethical practices associated with
conducting property appraisals and delivering presentations to clients in real estate.
Professional and ethical practices in real estate involve conducting property

appraisals and delivering presentations to clients with integrity, honesty, and
transparency. Appraisers must adhere to industry standards and regulations,
ensuring that their appraisals are accurate, unbiased, and based on relevant
market data. They should disclose any conflicts of interest and avoid any actions
that could compromise their objectivity.
When delivering presentations to clients, real estate professionals should provide

clear and comprehensive information about the property, including its features,
condition, and market value. They should avoid making misleading statements or
withholding relevant information that could impact the client's decision-making
process. Additionally, they should respect client confidentiality and handle all
information with care.
Overall, professional and ethical practices in real estate require a commitment to

serving clients' best interests, maintaining high standards of professionalism, and
upholding the principles of honesty and integrity in all dealings.
Page | 15 of 31
RTO 32426
Written Questions
Page | 16 of 31
RTO 32426
Written Questions
Question 11
List and explain in 20 – 50 words each, (3) different methods that can be used to
appraise property
Sales Comparison Approach: This method compares the property to recently sold
similar properties to estimate its market value, adjusting for differences in size,
condition, and features.
Income Approach: This approach assesses the property's value based on its
income potential, often used for rental properties or commercial real estate.
Cost Approach: This method calculates the property's value by considering the
cost to replace or reproduce it, factoring in depreciation and obsolescence.
Question 12
When appraising a shopping centre, which of the following appraisal methods would
be best suited to conduct the appraisal? (Click the box to select your answer)
☐ (a) Direct market analysis

☐ (b) Summation
☐ (c) Hypothetical
☐ (d) Capitalisation
Question 13
Explain the process in 50 – 150 words that you would undertake to maintain
documented evidence from appraisal activities to ensure confidentiality of
information.
To maintain documented evidence from appraisal activities and ensure

confidentiality of information, I would follow a structured process. This includes:
Secure Storage: All appraisal documents and records are stored securely in a
Page | 17 of 31
RTO 32426
Written Questions
locked cabinet or digital folder with restricted access.
Confidentiality Agreements: Appraisers and relevant staff sign confidentiality

agreements to ensure they understand the importance of keeping information
confidential.
Redaction: Personally identifiable information is redacted from documents before

they are shared with anyone not authorized to view such information.
Access Controls: Access to confidential information is restricted to authorized

personnel only, with login credentials and access permissions managed centrally.
Regular Audits: Regular audits are conducted to ensure compliance with

confidentiality policies and identify any potential breaches or vulnerabilities.
By implementing these measures, I ensure that appraisal information is protected

from unauthorized access and disclosure, maintaining confidentiality and integrity
in the appraisal process.
Question 14
What timeframe must the licensee keep records associated with transactions for?
(Click the box to select your answer)
☐ (a) At least 3 years after a record is made

☐ (b) At least 7 years after a record is made
Page | 18 of 31
RTO 32426
Written Questions
☐ (c) At least 5 years after a record is made

☐ (d) At least 6 years after a record is made
☐ (e) Until the transaction is concluded
Question 15
List (3) sources of specialist advice you may need to use to assist you in preparing a
property appraisal report and explain the purpose of this advice?
Real Estate Agents: Real estate agents provide local market knowledge and
insights into current market conditions, including recent sales and listings. Their
input helps in assessing the property's market value accurately.
Property Valuers: Property valuers are specialists in determining the value of

properties. They use various methods and factors to arrive at an unbiased and
accurate valuation, providing a reliable estimate of the property's worth.
Building Inspectors: Building inspectors assess the condition of the property,

identifying any defects or issues that may affect its value. Their expertise helps in
understanding the property's overall condition and its impact on its market value.
By consulting these specialists, appraisers can gather the necessary information

and insights to prepare a comprehensive property appraisal report that reflects the
property's true value.
Page | 19 of 31
RTO 32426
Written Questions
Page | 20 of 31
RTO 32426
Written Questions
Question 16
Property market conditions can be influenced by social, economic, political and
physical factors.
Provide (2) real estate relevant examples for each category and explain how these
impact on market conditions.
Social Factors
Demographic Changes:
Changes in population size, age distribution, and household composition can
impact housing demand. For example, an aging population may increase demand
for retirement communities or accessible housing.
Lifestyle Trends:
Shifts in lifestyle preferences, such as a preference for urban living or eco-friendly
housing, can affect the demand for different types of properties.
Economic Factors
Click or tap here to enter text.
Interest Rates:
Changes in interest rates can affect the cost of borrowing for property purchases,
influencing demand. Lower interest rates often stimulate demand, while higher
rates may dampen it.
Employment and Income Levels:

Economic growth, job creation, and income levels im
Political Factors
Government Policies:
Changes in government policies related to taxation, housing regulations, or
infrastructure development can impact property market conditions. For example,
incentives for first-time homebuyers can stimulate demand.
Political Stability:
Page | 21 of 31
RTO 32426
Written Questions
Political instability or uncertainty can lead to cautious investment behavior,

affecting property market activity.
Physical Factors
Location and Accessibility:
Proximity to amenities, transportation networks, and desirable neighborhoods can
significantly impact property values.
Environmental Considerations:
Factors such as flood risk, pollution levels, or natural disasters can affect property
values and marketability.
Question 17
What are (2) Sources of information that an agent can access and use in order to
assist with providing a client with a property appraisal.
Multiple Listing Service (MLS): The MLS is a database used by real estate
professionals to list properties for sale or rent. Agents can access data on recent
sales and listings in the area to gather information on comparable properties,
which is essential for determining the property's market value.
Property Valuation Websites: There are several websites that provide estimated
property values based on data such as recent sales, property characteristics, and
local market trends. While these estimates can be a useful starting point, they may
not always be accurate, so it's important to supplement them with other sources of
information and professional judgment.
Page | 22 of 31
RTO 32426
Written Questions
Question 18
What sources can you access to obtain the following information relevant to
completing a property appraisal?
Scenario Source
Advice on remedies for building defects. Building inspectors, structural engineers, or
construction professionals can provide
advice on remedies for building defects.
Building/planning approvals Local council or planning department

records, or consulting with a town planner.
Certificate of title Land registry office or online land title

registry.
Market conditions Real estate market reports, industry

publications, or consulting with local real
estate agents.
Local and state regulations Local council or state government websites,

or consulting with legal professionals
specializing in property law.
Question 19
When recommending property improvements to a client, what are some of the key
factors that an agent should take into consideration?
Market Demand: Assess the current market trends and buyer preferences in the
area to determine which improvements are likely to add value and appeal to
potential buyers.
Budget: Consider the client's budget and prioritize improvements that will provide
the greatest return on investment within their financial constraints.
Property Condition: Evaluate the current condition of the property and identify any
repairs or maintenance tasks that are necessary to improve its appeal and value.
Page | 23 of 31
RTO 32426
Written Questions
Comparable Properties: Look at similar properties in the area that have recently
sold or are currently on the market to see what improvements they have made and
how they have affected the property's value.
Local Regulations: Ensure that any proposed improvements comply with local
building codes and regulations to avoid potential legal issues or delays.
Client's Goals: Understand the client's goals and reasons for making
improvements, whether it's to increase the property's value for resale or to
enhance their own living experience.
Timing: Consider the timing of the improvements in relation to market conditions

and the client's timeline for selling or renting the property.
By carefully considering these factors, an agent can provide informed

recommendations that will help the client achieve their goals and maximize the
value of their property.
Question 20
List the name of 1 property portal or real estate specific database that agents can
use to assist in the preparation of a property appraisal.
One property portal or real estate-specific database that agents can use to assist
in the preparation of a property appraisal is realestate.com.au.
Page | 24 of 31
RTO 32426
Written Questions
Page | 25 of 31
RTO 32426
Written Questions
Question 21
What property attributes would be considered “comparable” and therefore relied
upon in a direct market comparison?
In a direct market comparison approach to property appraisal, the following

property attributes are considered comparable and relied upon:
Location: Proximity to amenities, public transport, schools, and other facilities.

Size: Total land size and floor area of the property.
Age and Condition: Age of the property and its overall condition, including any
recent renovations or updates.
Layout and Design: Number of bedrooms, bathrooms, and overall layout of the
property.
Features and Amenities: Presence of features such as a pool, garage, garden, or
views.
Comparable Sales: Recent sales of similar properties in the same area, known as
"comps," are especially important as they provide direct market comparisons.
Market Conditions: Current market trends and conditions that may impact property
values in the area.
These attributes help to determine the market value of a property by comparing it
to similar properties that have recently sold in the same area.
Question 22
What is an “out of line” sale and the forces that impact on property value?
Page | 26 of 31
RTO 32426
Written Questions
An "out of line" sale refers to a property sale that significantly deviates from the typical
market value of similar properties in the area. This can occur due to various reasons, such
as a seller's urgency to sell, a buyer's willingness to pay above market value, or unique
features of the property that make it more valuable to a particular buyer.
Several forces can impact property value, including:
Supply and Demand: Changes in the balance between the number of properties available
for sale and the number of buyers in the market can affect property prices.
Economic Conditions: Factors such as interest rates, employment levels, and economic
growth can impact property values.
Location: The desirability of a property's location, including its proximity to amenities,

schools, and transport links, can affect its value.
Property Characteristics: The size, condition, layout, and features of a property can all
impact its value.
Market Sentiment: Consumer confidence and perceptions about the property market can
influence buying behavior and property prices.
Government Policies: Changes in government policies related to taxation, zoning, or

infrastructure development can affect property values.
It's important for appraisers to be aware of "out of line" sales and consider the forces that
impact property value when conducting appraisals to ensure that their valuations are
accurate and reflective of the market conditions.
Page | 27 of 31
RTO 32426
Written Questions
Page | 28 of 31
RTO 32426
Written Questions
Question 23
Complete the table below to identify (3) risks associated with completing a property
appraisal and risk management strategies you could implement to mitigate the risk.
Risk Treatment
Inaccurate Valuation - Use multiple valuation methods to cross-
verify. Rely on recent and relevant market
data.
Failure to Consider Property Defects - Conduct thorough property inspections.

Consult with building inspectors or
structural engineers.
Lack of Market Knowledge - Stay updated with local market trends and
regulations.Consult with local real estate
experts.
Click or tap here to enter text. Click or tap here to enter text.
Question 24
List (2) Agency forms and documentation associated with property appraisal and
reasons for maintaining documentation.
Appraisal Report Form: This form is used to document the details of the property
appraisal, including the property's characteristics, comparable sales data, and the
appraiser's valuation conclusions. Maintaining this documentation is important for
providing a clear and comprehensive record of the appraisal process and the
factors considered in determining the property's value.
Client Engagement Form: This form outlines the terms of engagement between
the client and the appraiser, including the scope of the appraisal, fees, and any
other relevant details. It is important to maintain this documentation to ensure that
both parties are clear on their obligations and expectations throughout the
appraisal process.
By maintaining these forms and documentation, agencies can ensure

transparency, accountability, and compliance with relevant regulations in the
property appraisal process. They also provide a valuable record that can be
referenced in case of disputes or legal issues.
Page | 29 of 31
RTO 32426
Written Questions
Question 25
An investor purchases a property for $400,000.00. He receives $450.00 per week in
rent.
Calculate the rental yield for the investment and comment on the financial viability of
this investment.
First, we calculate the annual rental income:

To calculate the rental yield for the investment, we use the following formula:
Rental Yield = ( Annual Rental Income /Property Value) × 100 %
Annual Rental Income = Weekly Rent × 52

Annual Rental Income = $ 450 × 52
Annual Rental Income = $23,400
Now we calculate the rental field.
Rental Yield=($ 23,400/$400,000) ) × 100 %
Rental Yield=($0.0585 /1) × 100 %
Rental Yield=5.85%
Page | 30 of 31
RTO 32426
Written Questions
The rental yield for this investment is 5.85%.
Comment on the financial viability of this investment:
A rental yield of 5.85% is considered moderate and is generally seen as a positive

return for an investment property. However, the financial viability of this investment
depends on various factors such as property maintenance costs, vacancy rates,
and potential capital growth. It is important for the investor to conduct a thorough
financial analysis and consider these factors before making a decision.
Question 26
The term - “Average days on the market” is
(Click the box to select your answer)
☐ (a) The percentage of rental properties which are available/unoccupied at

a given time
☐ (b) The average time that it takes for a property to be “on the market” for
sale/rent
☐ (c) Used to determine “supply and demand” in the property market.
☐ (d) Both c and b
☐ (e) The percentage of properties which are selling under the hammer at
auctions
Page | 31 of 31
RTO 32426

REAA - CPPREP4101 and CPPREP4504 - Written Questions v1.2

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

REAA - CPPREP4101 and CPPREP4504 - Written Questions v1.2

Uploaded by

Copyright:

Available Formats

CPPREP4101 - Appraise property for sale or lease (Release: 1)

CPPREP4504 - Deliver presentations to clients in real estate (Release 1)

What you need to do:

What you will need:

What you need to submit:

How to Submit your Assessment:

Click on “finish attempt” to submit it for grading.

1. Section 65 - Entry to rented premises for valuation purposes: This section

2. Section 66 - Entry to rented premises for repairs and maintenance: While

3. Section 67 - Entry to rented premises by landlord: This section specifies the

4. Section 68 - Entry to rented premises by landlord's agent: Similar to section

5. Section 69 - Tenant's right to be present during entry: This section outlines

8. Section 74 - Compensation for interference with tenant's privacy or

reasonable peace, comfort, or privacy: This section could be relevant if the

It's important to convey empathy, understanding, and a willingness to take action

Property Appraisal: An appraisal is typically conducted by a licensed appraiser and

Property Valuation: Valuation is a broader term that encompasses various

In summary, while both appraisals and valuations aim to estimate a property's

Property Attribute Explain the Positive/Negative Impact of your example

e. Building improvements Positive impact: Well-executed improvements can

Refinancing or Securing a Loan: Owners may also seek an appraisal when

Estate Planning or Divorce: In situations involving estate planning or divorce, an

Overall, an appraisal provides owners with valuable information about their

Rental Agreements: For rental properties, rental agreements provide information

Property Inspection Reports: Reports from property inspections provide details

Council Records: Council records provide information about zoning regulations,

By analyzing these source documents, appraisers can make an informed

Cracks in Walls or Foundation: Cracks can indicate structural issues or settlement

Roof Condition: Signs of an aging or damaged roof, such as missing shingles,

2. Price Range Recommendation: Agents and real estate personnel help

3. Rental Value Recommendation: For rental properties, agents and real

Professional and ethical practices in real estate involve conducting property

When delivering presentations to clients, real estate professionals should provide

Overall, professional and ethical practices in real estate require a commitment to

☐ (a) Direct market analysis

To maintain documented evidence from appraisal activities and ensure

locked cabinet or digital folder with restricted access.

Confidentiality Agreements: Appraisers and relevant staff sign confidentiality

Redaction: Personally identifiable information is redacted from documents before

Access Controls: Access to confidential information is restricted to authorized

Regular Audits: Regular audits are conducted to ensure compliance with

By implementing these measures, I ensure that appraisal information is protected

☐ (a) At least 3 years after a record is made

☐ (c) At least 5 years after a record is made

Property Valuers: Property valuers are specialists in determining the value of

Building Inspectors: Building inspectors assess the condition of the property,

By consulting these specialists, appraisers can gather the necessary information

Employment and Income Levels:

Political instability or uncertainty can lead to cautious investment behavior,

Building/planning approvals Local council or planning department

Certificate of title Land registry office or online land title

Market conditions Real estate market reports, industry

Local and state regulations Local council or state government websites,

Timing: Consider the timing of the improvements in relation to market conditions

By carefully considering these factors, an agent can provide informed

In a direct market comparison approach to property appraisal, the following

Location: Proximity to amenities, public transport, schools, and other facilities.

Several forces can impact property value, including:

Location: The desirability of a property's location, including its proximity to amenities,

Government Policies: Changes in government policies related to taxation, zoning, or

Failure to Consider Property Defects - Conduct thorough property inspections.

By maintaining these forms and documentation, agencies can ensure

First, we calculate the annual rental income: