RES420 - Fundamentals of Real Estate Act & Waterford Real Estate Ltd Case Study - Law Assignment Help

Assignment Task -                 
 

Learning outcome  

Identify relevant points of consumer protection law applicable to real estate  practice

Assignment scenario 

For the purposes of this assignment, you have recently joined the team as the newest salesperson at Waterford Real Estate Ltd, working under the leadership of John Canon. John runs regular training sessions for the sales team and asks for your assistance in preparing some case study material. He’s written a series of scenarios, taken from real-life situations, and asks you to prepare an answer sheet to be handed out at the end of the training. 

For each scenario, John asks you to answer each of the following questions: a) What, if anything, has been done wrong by the salesperson? b) What legislation (if any) has been breached? (Identify the section and subsection as required). If appropriate, how could a customer claim a  remedy? Note, more than one Act may apply in some situations. c) Has the Real Estate Agents Act (Professional Conduct and Client Care)  Rules 2012 (the Code) been breached? If so, state the rule(s) that apply. d) What organizations would deal with such an issue, and why.

Task 1: Annoyed customers and clients 

1. Barbara Bullock phones the office and says, ‘We drove from the other side of town to see the property at 17 Sentinel Drive because it was advertised as five double bedrooms, and we’ve got a large family. But when we got there, it was more like three double bedrooms, one single bedroom, and another room that I could only describe as a small study. We are very disappointed  and annoyed that we wasted our time.’ 

2. Steve Smith comes to the office and complains, ‘When we listed our home we gave the salesperson a copy of the registered valuation we’d had done about a year ago. He said that because we had that, he didn’t need to do an  appraisal. That seemed strange – is it acceptable?’ 

3. When preparing an offer for Mr. and Mrs. Kongoola, recent immigrants with limited English skills who are purchasing their first New Zealand business, the salesperson failed to explain the meanings of ‘plus GST’, or ‘unconditional’. The offer was accepted by the client, and the customers will now have to pay $112,500 more than they had expected to pay. 

4. Bevan Hall phones and says, ‘Our neighbor, John, has recently put his lifestyle block on the market. It’s a good property, but there’s a massive power pylon in the front paddock. Imagine our surprise when we saw the first ad in the newspaper. It showed the house and paddock, but there was no sign of the pylon. Can a salesperson really delete something like that from a  photo?’ 

5. A salesperson is listing the home of the Harkness family, which is held in trust. The signatories are Mr. and Mrs. Harkness and their solicitor, Jack  Dawson. Mrs. Harkness asks whether she and her husband can sign the agency agreement, rather than bothering the solicitor, ‘because he’s very expensive’. The salesperson agrees that there’s no need to involve the solicitor until there is a sale and purchase agreement to be signed. He also fails to give them the New Zealand Residential Property Agency Agreement  Approved Guide or advise them to seek legal advice before signing the agency agreement. 

6. Maria Tang calls and says, ‘When we bought our first investment property 3 weeks ago, the salesperson assured us that it would rent for at least $480  per week and that we’d probably get $520 without any difficulty. We relied on that information when working out our budget. But we’ve since found out  that this isn’t a popular area for rentals, and our property manager is  struggling to find us a tenant who’ll pay more than $440 per week.’ 

7. A salesperson is showing a 5-hectare lifestyle property to James. When pointing out the boundaries, the salesperson refers to a large, flat paddock on the eastern side as being included in the property. James comments that that paddock is exactly what he wants to develop an equestrian facility,  including a dressage arena. In fact, that paddock belongs to the next-door neighbor. The size of the paddock is approximately half a hectare.

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