Reference no: EM132413019
23140 Develop Marketing Plans for Real Estate, Qualify Customers, and Present Properties For Sale Assignment
New Zealand Certificate in Real Estate (Salesperson) - Unitec Institute of Technology, New Zealand
Assessment Activity -
Q1. You have two properties for sale, and a variety of options available to you for marketing. The options are described, along with the cost to the client. The clients of these two properties have different needs and budgets.
For the properties A and B -
i) Identify the appropriate marketing options that you would use (yes) and explain why.
ii) Identify the marketing options that you, might use (maybe) and explain why.
iii) Identify the marketing options that you would not use (no) and explain why.
The following tasks require you to develop marketing plans for 2 different properties, one being marketed with a price, and one without a price. When you have developed each marketing plan you will create the promotional material that you propose in that plan.
Q2. a) Develop a four week marketing plan for 3 Hibiscus Way, The Gardens. In your marketing plan specify all the promotional materials that you will use to promote the property, and explain the timing for each event.
You may use the Four week marketing plan (Attachment 3). Your marketing plan must include:
- website advertising
- a sign for outside the property
- advertising in print media
- fliers
- open homes.
b) Calculate the budget for the marketing campaign for 3 Hibiscus Way. In your calculation include:
The cost of each item in your marketing plan.
Total cost for the marketing campaign.
Explain how the campaign will be funded - i.e., who will pay for each item in the budget.
c) Imagine that you are sitting with your prospective client of 3 Hibiscus Way. Explain your marketing plan to the prospective client, including reasons for the choices you have made. Provide your explanation in writing.
In this explanation you will need to comply with Rule 10.6 (c) and (d) in regards to marketing expenses.
d) Develop two of the promotional materials that you have included in your marketing plan for 3 Hibiscus Way. Note: For your promotional material select photos to use, and when using multiple photos in website advertising, specify the order in which they will appear.
Q3. a) Develop a four week marketing plan for 83 French Settler Rd. In your marketing plan specify all the promotional materials that you will use to promote the property, and explain the timing for each event.
You may use the Four week marketing plan (Attachment3).
Your marketing plan must include:
- website advertising
- a sign for outside theproperty
- advertising in print media
- fliers and open homes.
b) Calculate the budget for the marketing campaign for 83 French Settler Rd. In your calculation include:
The cost of each item in your marketing plan.
Total cost for the marketing campaign.
Explain how the campaign will be funded - i.e., who will pay for each item in the budget.
c) Imagine that you are sitting with your prospective client of 83 French Settler Road. Explain your marketing plan to the prospective client, including reasons for the choices you have made. Provide your explanation in writing.
In this explanation you will need to comply with Rule 10.6 (c) and (d) in regards to marketing expenses.
d) Develop two of the promotional materials that you have included in your marketing plan for 83 French Settler Rd.
Note: For your promotional material select photos to use, and when using multiple photos in website advertising, specify the order in which they will appear.
Q4. You have just listed a two storey house with a weatherboard exterior on a concrete block base, and as you walk into the back corner of the dining room you're sure you feel the floor sloping downwards. You say to the client "The floor feels weird here, it seems like it's sloping downhill" and the client says "Oh. Yes, there's a bit of a crack in the block-work downstairs. The foundations could be sinking a bit in that corner. Nothing too serious. Just don't let people walk into that end of the dining room and it won't be a problem."
When you investigate downstairs you find a huge crack in the wall that has been covered by a large wall hanging, and is hidden from outside by a big bushy shrub.
The client says "No-one needs to go outside and look behind that shrub. Just make sure no-one notices the crack or the sloping floors, and don't tell them there's a problem."
a) What will you tell your client, and which Rules in the Code apply?
b) Explain what is your obligation towards any customer who is interested in buying the property? Specify the Rule in the Code that applies.
Q5. You have listed a beautiful old villa and you are surprised to discover that it has sold seven times in the last 10 years. A friend who lives in the same street has said "No wonder, the place is haunted by the original owner, Bartholomew Thomas - he was murdered in the kitchen by his wife's lover in 1907 and he's often seen floating between the kitchen and the master bedroom. He rattles the knives in the kitchen and shakes the bed in the bedroom - no-one can put up with it for long, so they put the property back on the market again." You ask the client if they have had any issues with the property and they say "well, it's a bit weird and we might just be imagining it, but sometimes the cutlery in the kitchen rattles, and there's no-one there. And we've both seen a man in old fashioned clothes in the hallway, he completely ignores us so he's no problem, but he's supposed to be the ghost of the first owner. He's well known around here, they call him 'Old Bart'. He's never bothered us, but it would have been nice to have been told before we bought the house. You'd better tell people probably, before they make an offer, but it's no big deal."
What is your obligation towards any customer who is interested in buying the property, and which Rule applies?
Q6. You have listed a property that has a great sea view across the neighbour's back lawn. After you put your sign up, the neighbour rings you. "Just thought I should tell you" he says, "I'm about to build a granny flat in the back garden and I'm putting a big, loft over it - it might interfere with the view a bit".
What is your obligation to ads any customer who is interested in buying the property, and which Rule applies?
Q7. A customer walks into your office and says that they are thinking of moving to your area, and that they would like to see some of the houses that you have for sale.
Before showing them any property:
a) What would you do and how?
b) Why would you do it?
Q8. You have advertised an expensive property where viewing is by appointment only. You have received a call from the advertisement from a woman who is keen to see it.
a) Explain why you would qualify this customer on the phone before showing her the property.
b) How would you do this?
Q9. Provide two examples of questions that you can ask your customer to assess the type of property they want to buy.
Q10. Provide two examples of questions that you can ask your customer to assess the location of the property they would like to buy.
Q11. Provide two examples of questions that you can ask your customer that will help you to assess their urgency.
Q12. Provide an example of a question that you can ask your customer that will help you to assess their motivation for buying a property.
Q13. Provide an example of a question that you can ask your customer that will help you to assess their financial situation.
Q14. a) You have a customer, Linda, who is looking for a house to buy. She has chatted to you at length on the phone (see the transcript of the conversation attached).
Record her relevant information on the attached Customer Information Sheet A, Attachment 4.
b) Check through your listings "Properties currently for sale in the area", Attachment 1 and identify a property that might be suitable for Linda. Explain why you think this property might be suitable.
Q15. a) You have a customer, Harold, who is looking for a unit to buy. He has chatted to you at length on the phone (see the transcript of the conversation below). Record his relevant information on the attached Customer Information Sheet B, Attachment 4.
b) Check through your listings "Properties currently for sale in the area", Attachment 1 and identify a property that might be suitable for Harold. Explain why you think this property might be suitable.
Q16. Explain the importance of building rapport with the customer.
Q17. When building rapport with a customer, explain the importance of active listening.
Q18. a) When dealing with a customer, explain the importance of using "open-ended" questions.
b) Provide two examples of "open-ended" questions.
Q19. a) When dealing with a customer, explain when you would use "closed-ended" questions.
b) Provide two examples of "closed-ended" questions.
Q20. When talking to a customer explain:
a) Why you will use feedback to help build rapport.
b) Provide an example of how you might do this.
Q21. Your customer, Linda (see question 14) has come to view the property (this is the property you identified in question) as being a potential match for her needs).
Explain the features and the benefits of this property that you would focus on when showing it to Linda.
Q22. Linda loves the property, but is worried about the fencing. She says "I need a fully fenced garden for the dogs, and this garden isn't fully fenced. The dogs be will up the road in no time!"
a) How can you use this objection to close the sale?
b) What solution might you suggest to overcome this problem (the lack of fencing) that has caused the objection?
Q23. Your customer, Harold (see question 15 has come to view the property (this is the property you identified in question) as being a potential match for his needs).
Explain the features and the benefits of this property that you would focus on when showing it to Harold.
Q24. While viewing the property, Harold makes the following comments. Identify those that are buying signals and explain why they are buying signals:
1. The garage floor is painted. I wonder why they did that?
2. That cupboard door jams a bit. I will have to fix it.
3. My TV would fit perfectly in that corner.
4. Would you call the carpet colour grey? Or would you call it brown?
5. That clock looks like an antique, my aunt used to have one like that.
6. You know, this is the nicest unit I've ever seen.
7. My daughter could easily walk here.
Q25. If either Linda or Harold did not like the property you showed them and said "No, this just isn't me, I couldn't live here", what would you suggest, and why?
Q26. You are required to visit a Branch Manager in Real Estate Company. Please contact one of these mangers on the list, Attachment 5. If you already have a job offer, please do this task with that Branch Manager.
You will complete this task with the Branch Manager by completing the forms in Attachment 6. Take this pack with you to the office you visit. After completing the tasks return the completed forms and Agency Agreement form to your lecturer.
You will need to complete two tasks:
1. With the Branch Manager, visit a property, and by referring to the title or information obtained through Property Guru or RPNZ, and using your own observation skills, complete all sections of an Agency Agreement form (provided by the Branch Manager).
2. In a role play scenario with the Branch Manager (or delegated salesperson), who is acting as the prospective client, you will explain the completed Agency Agreement to them. You will need to complete all the forms in Attachment 7 and obtain the Branch Manager's signature.
Note - Need to do as per New Zealand rules and regulations.
Attachment:- Develop Marketing Plans for Real Estate Assignment File.rar