Units

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Sample subject outline - Semester 1 2013

Note: Subject outlines often change before the semester begins. Below is a sample outline.

Rationale

A major aspect of any property purchase or investment is the actual sale process to obtain the property and then the potential leasing of the property. The process of selling and leasing property, especially commercial, industrial and retail property is a major function in the property sector and an understanding and appreciation of the various issues and aspects in this process are fundamental for graduates entering the property profession, and is crucial for entry into the property profession of commercial sales and lease negotiation. Today it is increasing evident that CBD and Institutional based commercial sales and leasing negotiators are becoming more diverse in the real estate products that they serve whilst also seeking to provide higher and competitive levels of expertise and quality.

The focus of the unit is to provide a good grounding in real estate agency practice and marketing, as it applies to the diverse real estate property sectors.

Aims

The aim of this unit is to assist you to develop your understanding of the role, responsibilities and ethical and professional practice in relation to the sale and leasing of all property types in the various property sectors.

Objectives

Upon completion of this unit you should have:

1. A sound technical and legal knowledge in relation to running a real estate practice.
2. Knowledge of both generic and specific real estate marketing principles on different types of property.
3. An awareness of the differences between marketing and promotions in real estate.
4. The ability to structure marketing programs for different property types using different sale methods.
5. The ability to confidently work with Clients and Customers on matters of Real Estate Marketing.
6. The ability to run and market the Real Estate Office and its services.
7. An awareness of Legislation impacting the marketing of properties and the running of a Real Estate Agency business.

Content

This unit will cover the following topics:

1. Real Estate Agency management techniques required to operate a Real Estate Practice (multi-disciplined), establish and run a sales division, a leasing division, a property management division and maintain quality procedures in the workplace

2. Consumer and business ethics are incorporated throughout the program with particular emphasis on the Queensland 'Code of Conduct' under the Property Agents and Motor Dealers Act. Marketing methods in Real Estate Agency will include target marketing techniques when working with developers, investors, owner occupiers, tenants and landlords

3. Financial Management skills in relation to viability, profitability, risk management and professional indemnity of a Real Estate Agency. Documentary requirements of the Property Agents and Motor Dealers Act will be discussed as they relate to sales, leasing and management of all type of properties.

4. Concepts of personal management, including: perception, motivation, personality factors and development, group dynamics, leadership styles, employer selection, negotiation skills, personal marketing, dispute resolution, staff counselling, prospecting skills, presentation skills, best practice and quality assurance

Approaches to Teaching and Learning

Your learning will be facilitated through the use of lectures, case studies, team and individual assessments and directed market research.

Lectures: 3 hours

Assessment

QUT's Assessment Policy is located at MOPP C/5.1.

Overview of Assessment:
This unit will comprise both formative and summative approaches to assessment involving a mix of formats including both oral and written feedback.Your lecturer and tutor will provide feedback on your progress and work during lectures and tutorials.

Assessment name: Report
Description: Industry standard marketing report and investment sale analysis.
Relates to objectives: 2. Knowledge of both generic and specific real estate marketing principals on different types of property.
3. An awareness of the differences between marketing and promotions in Real Estate.
4. The ability to structure marketing programs for different property types using different sale methods.
5. The ability to confidently work with Clients and Customers on matters of Real Estate Marketing.
Weight: 50%
Internal or external: Internal
Group or individual: Individual
Due date: Week 12

Assessment name: Examination (Theory)
Description: Short answer and essay questions
Relates to objectives: 1.A sound technical and legal knowledge in relation to running a Real Estate Practice.
2. Knowledge of both generic and specific real estate marketing principals on different types of property.
6. The ability to run and market the Real Estate Office and its services.
7. An awareness of Legislation impacting the marketing of properties and the running of a Real Estate Agency business
Weight: 50%
Internal or external: Internal
Group or individual: Individual
Due date: Week 8

Academic Honesty

QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.

A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.

Resource materials

There is no specified text book for this unit. Required readings for each topic are listed and will be available in the library as well as on-line. No other resources or costs are required for this unit. At present no materials are included on the Course Materials Data Base, but an active Blackboard site will include a summary of the lecture material for each week.

Required Readings
Please note: The nominated material is indicative, not definitive, and will be amended as necessary to ensure currency and market relevance.

Legislation
1. Property Agents and Motor Dealers Act and Regulations
2. Retail Shop Leases Act
3. Trade Practices Act (State and Federal)

Texts
1. Duncan, W. D. 2011, Commercial Leases in Australia, Sixth Edition, Lawbook Co. Sydney
2. Davis, F and Wills, P 1997 Real Property Management. 4th Ed Petfran Publications, Sydney
3. Davis, F and Wills, P 2006 Buying and Selling real Estate 8th Ed. Petfran Publications, Sydney
4. Guthrie, E 1988 Real estate Practice in Australia. Real Estate Institute of Australia. Canberra
5. Senn, M 1990 Commercial Real Estate Leases: Preparation and negotiation. Wiley Law Publications. New York

Journals
1. Australian and New Zealand Property Journal
2. Property Australia
3. Journal of Real Estate Practice and Education
4. Pacific Rim Property Research Journal
5. Real Estate Institute Journal

Selected readings will also be provided on Blackboard.

Risk assessment statement

There are no out of the ordinary risks associated with this unit.

Additional Costs
There are no additional costs anticipated in completing this unit.

Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.

Last modified: 23-Oct-2012