Real Estate Industry - Land Transaction Act - Business Agents Act - Assessment Answer

Real Estate Industry - Land Transaction Act - Business Agents Act - Assessment Answer 

Task

1. Match all of these States with the Acts that govern their property practices
i. QLD
ii. NSW
iii. WA
iv. SA
v. VIC
vi. TAS
A. Property Occupations Act 2014
B. Property, Stock and Business Agents Act
C. Estate Agents Act
D. Property Agents and Land Transaction Act
E. Real Estate and Business Agents Act
F. Land and Business (Sale and Conveyancing) Act

All the answers are found in the material, and in order of the questions.

• . Name the most common system of land title in Australia
• . Name the most common type of land tenure in Australia
•  List 2 different types of co-ownership of property

In your own words what do you understand by the term ‘theprincipal and agent relationship’?

If a property is on a block of land that is around one quarter of an acre, how many square meters is this equal to?
A. 1,000
B. 1,500
C. 500

What are 6 types and roles of personnel?

Does your state require a separate, specific Auctioneer’s License?
A. YES
B. NO

Give a brief description of one of the commonly accepted roles within property agency - what are the key job roles, their responsibilities, and their main activities?

Are there any circumstances where a Licensee can loan their licence?
Yes/No

Give a brief account of how Independent Contractors are used in sales roles

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