Module: Property Agency

Module details

  • Module code

    2203
  • Module leader

    Matthew Smith
  • Module Level

    5
  • Module credits

    15
  • Min study time

    150 hours
  • Contact hrs

    35 hours
  • Teaching Period

    Semester 1

Module content

Marketing and its role in a sales organization. The role and function of an agency in the property market. Relationships with clients and others, conflicts of interest, confidentiality, statutory obligations, the role of professional associations and the regulation of the practice. Procedure for selling, letting and purchasing property interests, taking instructions, inspection of the property, preparation of adverts and brochures, administration of transactions, verification of regulations and compliance for services, appliances and furniture.

Module outcomes

To achieve credit for this module, students must be able to:

  1. Prepare and implement a market strategy for an agency business.
  2. Advise on a marketing strategy for a property.
  3. Receive instructions from a client and establish administrative procedures.
  4. Understand the key statutory and legal obligations of an agent.

Assessment

Assessment Description Weighting
Coursework Marketing Report and Draft Particulars 50%
Coursework Four 30 minute in class tests with seen test questions released a week before each test 50%

Assessments may differ in 2020/21 due to adjustments for Covid-19. Please check Gateway for the latest regulations.

Key texts

Students should be familiar with the content of at least one of the following:

  • Courtney Lord, R. (1998). Auctioning Real Property. Macmillan.
  • Mackmin, D. (2008). The Valuation and Sale of Residential Property. (3rd edition). Estates Gazette.
  • Murdoch, J. (2003). The Law of Estate Agency. (4th edition). Estates Gazette.
  • RICS (2009). Blue Book: Residential Estate Agency Standards. RICS Business Services.

Supporting texts

  • Directgov (UK Government website) – Buying, Selling or Renting A Home
  • Estates Gazette (weekly journal) also available as Estates Gazette Interactive (EGi) via Library website.
  • RICS Modus magazine (monthly members Journal)