Technical skills in real estate agency

Introduction

This module has been designed to introduce you to the subject of real estate agency. The module is suitable for complete beginners as well as those already possessing limited experience in this field. It aims to familiarise you with the basic principles of real estate agency practice and provide you with an understanding of the issues that can affect an agency surveyor’s work.

The module has been divided into four parts to allow you to gain an overall perspective of the real estate agency market:

• The estate agent’s office
• The law of agency
• Residential marketing advice, valuation, survey reports
• Property management.

The real estate agency format will differ according to its location and market sector. This module uses the residential market in England and Wales to provide an overview of the main points associated with real estate agency. However, the content is relevant to agency markets in other countries but care must be taken when assessing the legal responsibilities of the agent in each individual country.

In this module you will be introduced to the property market and learn about the varied roles that a surveyor can fulfil when buying and selling property. You will learn about the main functions undertaken in a typical estate agent’s office. You will also develop an understanding of the role and responsibilities in UK law of acting as an agent. You will be introduced to the issues involved in providing residential marketing advice, valuation and survey reports and develop an understanding of the difference between advising a prospective purchaser on the marketing price of a property and providing a valuation. You will consider some general issues which apply in any property management scenario, and you will look at the wide variety of situations in which property managers operate within the UK market. You will also study in greater detail some examples of the property manager’s functions. The information required to manage effectively is considered and you also will look at how property management relates to real estate agency.

Price: £300.00 includes postage and packaging. Click here for order form. An additional £100 is payable for the assessment option.

Aims

The aim of the module is to introduce a range of ideas and techniques relating to real estate agency practice by:

• developing basic skills in real estate agency and marketing; and
• explaining the principles of real estate agency and marketing.

Learning Outcomes

Subject Knowledge and Understanding

After studying this module you should be aware of and understand:

• the responsibilities of the negotiator to the client, the applicant and the firm;
• the marketing process from receiving instructions to completion;
• the principles of residential agency and the way in which those principles have developed;
• the underpinning concepts of agency.

Subject Specific Skills

After studying this module you should be able to:

• identify the functions of an estate agent’s office and define the importance of efficiently managed office procedures;
• differentiate between the alternative sources of instructions for estate agents and describe the different methods of sale;
• recognise the basic approaches to selling and relate them to estate agency;
• identify best practice in winning instructions to sell a property and achieving an acceptable price for the client following appropriate advertising;
• summarise the principal legislation which governs real estate agency practice in the UK;
• describe the formation and cessation of an agency relationship;
• describe the comparative method of valuation and analyse prices of relevant comparable transactions for valuation;
• explain the RICS Code of Measuring Practice and interpret its guidance for inspecting and measuring properties;
• recognise the importance of collating accurate information for effective management for new instructions;
• recognise the importance of maintaining up-to-date and accurate records of existing instructions to ensure compliance with the client’s requirements.

Generic Skills

As you study this module you also will learn to:

• use appropriate strategies for acquiring knowledge and understanding;
• gather and summarise information, appreciate points of view and develop self-reflection;
• understand your current level of competence and your future areas for deveopment;
• identify the need for continuing professional development;
• demonstrate a basic understanding of the workings within the construction and surveying environments;
• make judgements of a routine nature.

Price: £300.00 includes postage and packaging. Click here for order form.