Property Agency

Module code: 2203
Module leader: Matthew Smith
Module level: 5
Module credits: 15
Prerequisites: None
Min study time: 150 hours
Contact Hrs within study time: 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:

Prepare and implement a market strategy for an agency business.
Advise on a marketing strategy for a property.
Receive instructions from a client and establish administrative procedures.
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%

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. (3^rd edition). Estates Gazette.
Murdoch, J. (2003). The Law of Estate Agency. (4^th 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)