Identify four parties who are involved in a real estate transaction. Provide a brief definition of each one and include any alternative titles or terms that are used to refer to the parties.

(About 100~150 words for each question if not specified)
1) Complete the table below to explain each of the services which may be offered by real estate agents. Include at least two sentences or dot points for each service in your answer.
Service Your explanation
Residential sales
Residential property management
Property management business development
Commercial/ industrial/ retail property management
Commercial/ industrial/ retail sales
Auctioneering
Buyer’s agent
Stock and station agent
Business broker

2) Identify four parties who are involved in a real estate transaction. Provide a brief definition of each one and include any alternative titles or terms that are used to refer to the parties.
3) What is the agency/principal relationship and why is it important in a real estate agency? Explain how the relationship applies to real estate work and why conflict of interest issues can arise. Provide an example to support your answer.
4) Analyse the following Commonwealth legislation and explain how it could relate to your work role in a real estate context:
A. Biosecurity Act (2015)
B. Fair Work Act (2009)
C. Privacy Act (1988)
D. Competition and Consumenr Act (2010)
E. Building Act (1993)
F. Explain how it could relate to your work in a real estate context: Victoria – Estate Agents Act (1980)
5) Complete this table to explain the following equal opportunity and anti-discrimination laws, by providing an explanation of the law, a description of the principles which guide each law and an example of how the law might relate to real estate activities in your own state or territory.
Law The principles which govern this law Your explanation of the law An example of how this law might relate in my state or territory
Commonwealth Disability Discrimination Act (1992)
Commonwealth Racial Discrimination Act (1975)
Commonwealth Sex Discrimination Act (1984)
Victorian Equal Opportunity Act (2010)
6) Analyse and explain the relevant codes of practice which relates to your real estate practice. To do this, you should identify a relevant source of information, provide at least four points of information about the code and explain how it is relevant to your own work duties in real estate.
A. The Estate Agents (Professional Conduct) Regulations 2018 (Victoria)
B. Real Estate Institute of Australia Code of Practice
C. REIA National Principles of Conduct
7) Analyse the National Employment Standards by providing information in either a paragraph or dot point format. Include details about what the standards are, who they apply to, where to find information about the standards and what they mean for both employers and employees. Next, complete the table showing at least two rights and responsibilities for employers and employees which relate to conditions of employment under the National Employment Standards.
Employers Employees
Rights
Responsibilities
8) Identify and explain at least three different communication strategies you could use to address a complaint from a customer. You can provide your information in a variety of ways agreed to by your assessor, such as a paragraph or dot point list.
9) Compare licensing lending and unlicensed trading and provide a fictional example of each to demonstrate your knowledge.
10) Record the details of the role and at least two functions of each of these professional bodies:
A. Real Estate Institute of Australia
B. Real Estate Institute of Victoria
11) Explain the differences between the business structures of a sole trader and a company.