RES503 Supervision in the Real Estate Industry RES503 Assessment 3 2026 Learning Outcomes 3 Discuss legislative requirements and best practice applicable to carrying out agency work in the New Zealand real estate industry.
4 Apply supervision skills to licensees and other staff in carrying out agency work and apply to a given scenario.
Instructions Complete and submit your assessment according to the Open Polytechnic’s Assessments webpage. This includes information on academic integrity, formatting, word limits and referencing.
Include your name, student number and the assessment number. Number your pages. Submission Submit your assessment in one file. Submit your work through your iQualify course. Emailed assessments will not be accepted. You will receive an automated notice advising you of your successful submission. By submitting your assessment, you confirm that it is your own, original work. Part 1: Disclosure Read The Following Scenarios And Answer The Questions. Scenario 1 Recently, he was approached by a client who wanted him to appraise then list his property. His client explained to him that they had been renting it out for several years. He went on to explain that one of the tenants had experienced mental health issues recently and had died at the property due to suicide. He told Ravi he wanted to sell the property as soon as possible.
Scenario 2 Stephanie was approached by a client who had received her flyer in her mailbox. Mrs Brown wanted an appraisal done with a view to selling due to the recent death of her husband. She told Stephanie that her husband had died peacefully surrounded by his family at home a few years ago and that she felt she was ready now to sell, so she could move closer to her daughter now that she was on her own.
Scenario 3 Joshua, who was new to the area, received an appraisal opportunity from a leaflet drop. He met the owner of the vacant property on site, who told him that instead of renting the property out, they wished to sell it as quickly as possible. He went on to say that he just wanted it sold, despite the media coverage of recent events at the property, where the tenant was identified as a drug lord and supplier and user of P (methamphetamines), and where the tenant was killed at the property in a drug-related incident. Consider the three scenarios and answer the following questions for eachscenario.
Discuss how you as a branch manager would supervise the salesperson to ensure legislative requirements and compliance have been covered when presenting each property to the market for sale, explaining ifany disclosure is necessary, and if so, why it might be necessary? When considering sensitive issues, identify which rules apply and any legislation that could apply under best practice guidelines when considering supervision and compliance . (Word count guideline: 800 words) (Total for part 1: 40 marks)
