1 1. Where would you find the ethical and conduct standards…

Question 1 1. Where would you find the ethical and conduct standards… 11. Where would you find the ethical and conduct standards relevant to the appraisal of property?new 22. Define ‘Agent’s role’ and also in particular, to providing appraisals.new 33. Which Act legislates real estate appraisals and penalties that could apply when these are breached?new 44. Define the purpose of a property appraisal.new 55. Give an example of when a property appraisal would not be sufficient.new 66. List any five (5) of the things you would make note of at your preliminary inspection.new 77. Where would you source information for the possible redevelopment or restrictions on properties you are appraising?new 88. List three (3) sources you can use / access to compare properties.new 99. Name two (2) sources to confirm property ownership. new 1010. What is “material fact”?new 1111. List three (3) most common methods of appraising properties.new 1212. How would you calculate a “like for like” method of appraisal? Where would this likely occur?new 1313. Under legislation for what length of time must appraisal records be maintained by the office.new 1414. Which legislation protects this information and to whom can these records be shown?new 1515. What are the three (3) main methods of presenting an appraisal based on individual client personalities?new 1616. How can you achieve the most truthful feedback from appraisal clients to improve your performance?new 1717. Describe two (2) ways to improve on poor results.new 1818. Give two (2) examples of an outside specialist and what role do they play?new 1919. What are fiduciary responsibilities? new 2020. What are factors that can affect the price of a property?new 2121. When listing a property using a specified range, the difference between the higher figure and the lower figure cannot be anymore than ……% of the lower figure.new 2222. You are on the telephone to a vendor who has requested an appraisal.  What questions would you ask this person prior to attending their property including their expectations?new 2323. You have attended a market appraisal but back at the office you can find very little past sales to compare to this unusual property. What do you do and why?new 2424. When researching a property you are appraising having taken into account current market indicators, you find on RP Data the current owners purchased at the height of the market and you now estimate it at 20 – 25% less than they paid.  Now, when presenting your market appraisal and opinion of price they are very disappointed and angry at your estimate. What do you do and explain why? Also, how long must we keep this appraisal on file?    new 2525. On arriving at your appraisal appointment, you find only one of the vendors at home, you are yet to meet or speak with the absent vendor. He explains his wife is overseas for work on short notice however, they are keen to get the property on the market asap.  Explain what you would do and the risks and ramifications involved, including any documents you need to source.new 2626. The agency should, as best practice provide a survey to all clients both those that have listed and those that have not. Analyse the below negative feedback, identify the issues within each and provide possible solutions to each one. Bear in mind legislative and industry standards and ethics, provide ways in which this can be used constructively to inform / improve future presentations.Survey response:’NO EYE CONTACT – I FELT THE AGENT WASN’T TRUSTWORTHY OR JUST NOT INTERESTED”ARRIVED LATE, SEEMED TO BE IN A HURRY TO LEAVE AND DIDN’T ALLOW SUFFICIENT TIME TO ANSWER OUR QUESTIONS’new  Arts & Humanities Communications Public Relations Share QuestionEmailCopy link Comments (0)