Task
1. You are to create a four week “Auction Marketing Plan” for the property you will auction in unit CPPDSM4004A. The costing of the marketing plan is to be realistic and you must provide copies of proposed advertising.
Your marketing plan is to include a breakdown of your marketing activities, copies of advertisements and the costs associated.
2. You are to create an “Office Checklist” that can be used by an agency to ensure all pre auction and post auction procedures are followed.
Assessment event 2 – Written questions
Complete the following questions and upload to the online learning space.
1. How many bids can the vendor make at the auction on their own behalf? Explain the statutory requirements in regard to “dummy” vendor bids
2. What is the reserve price and how is the auctioneer notified of it?
3. Under the Property, Stock and Business Agents Act, 2002 how long must a Bidder’s Record be kept and who keeps it?
4. Describe the procedures you would undertake to complete an auction sale when the property is sold.
5. Can a person bid for and on behalf of another party? If so, what are they required to do?
6. Explain how you would answer a prospect who asks you for the price range of a particular property you are putting to auction.
7. Define the auction process. Discuss the relevant merits of in-room auctions v on-site auctions.
8. Develop a check list for what should be attended to by the agent on auction day, prior to the auction commencing on-site. List at least eight (8) points.
9. List five (5) desirable traits that an auctioneer should possess.
10. What notices should be displayed at the auction?
11. What constitutes proof of identity for a prospective bidder at the auction who wishes to be recorded in the Bidders Record?
12. What must the successful bidder provide the auctioneer or employee of the auctioneer after the property has been knocked down in their favour?
13. List five (5) prescribed auction conditions under the standard contract for the sale of land in NSW.
14. What does the PS&BA Act 2002 say in regard to advertising after a property has been passed in at the vendors bid?
