RESEARCH AND REPORT

To demonstrate competency in this unit, you will need to do (3) three things:

1. Research and develop one prospecting strategy for a geographical area, including:

• property demand in the area

• socio-economic climate for the area
• growth expectations for the area
• prospecting strategies

2. Develop a report on the optimum capacity of an agency, including:

• current agency profile and forward projections for agency

• maximum/minimum property management scope and scale
• resources required to manage properties

3. Develop a report with recommendations to adjust property management portfolio mix.

Templates have been provided to assist you in the completion of these tasks and should be returned to
your assessor once completed.

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 Part 1 Research and develop one prospecting strategy for a geographical area

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 Agency name Elders Real Estate

Start date 25/11/2022

Completion date 28/11/2022

Research and develop one prospecting strategy for a geographical area

What Property Market assessment and analysis - Property and sales advice - Rural property
Management assessment - Sales, purchase and leasing of residential, commercial and industrial
functions/services does properties - Property and assessment management - Land and property auctions -
your estate agency Stock and station - Acquisition of development sites - Auction sales
provide?

What research did you Research through the Australian bureau of statistics website were used in order to
undertake and by what analyse the demographic for the local area (Manor Lakes)
means?

What is the Manor Lakes

geographical area the
research relates to?

What is the socio- According to census 32, 1133 people live in Manor Lakes. 49.3% were male and
economic climate for 50.7% were female. Median age : 32 years Average children per family : 7,809
that area? Married : 51.1% highest percentage group Weekly income : 1,120 Median weekly
rent : $400 Multicultural suburb : India, Australian and Asian
What growth conditions Project growth within the selected area involves the economy, market cycles,
for expectations for the consumer behavior and interest rates. Growth condition for Manor Lakes includes
area were identified in new homes and jobs over the next 20 years including Melbourne Metro city and
your research? Southwest project like Geelong.

What prospecting https://vpa-web.s3.amazonaws.com/wp-content/uploads/2018/01/GC75-Incorp-

strategies did you Doc-Manor-Lakes-Development-Contributions-Plan-March-2012-Amended-July-
research? 2017-Approval-Gazetted.pdf

https://theloop.wyndham.vic.gov.au/manor-lakes-aos

Was there any other Project growth of the economy indicated that the houses, apartment market value
relevant information is in the process of increasing due to Werribee Precinct and economic zone.
which resulted from Market value of houses, units and duplex are predicated to increase in value.
your research?

Undertake research to develop one prospecting strategy in your area

Provide details of the Option of prospecting strategy will include calls (warm calls), letting individual
prospecting strategy? know about what’s available, without selling, network, social media presence

What resources will be Through the use of network and identifying potential clients will involve
required to undertake interaction with others, communicating with network, communicating with
this strategy? network, targeted ads, keeping abreast of market trends and analyzing the property
types and availability in the area in order to let potential clients know of what is
available
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 What sort of cost would Cost of strategy will include revenue, material costs, personnel cost and overall
be involved with this profit which involves  Website (multimedia platforms, Google advertising, and
strategy? available organic sources)  Phones  Social media marketing

Are there any legal or There are no ethical restrictions related to theses strategies, however it is import
ethical restrictions for agents to meet up to the ethical and conduct standards as an real estate agent
relating to this strategy? these involves - To uphold and honor and dignity of the professional and not
engage in activities that may bring disrepute - Compliance with code and
legislation act (Property and Stock Agents Act 2002 ) - A code of ethics is
followed .
What personnel will  Comparison against other properties in similar areas  Advertising business in
undertake strategy? relevant places such as community newsletters, multimedia platforms, Google
advertising, and available organic sources  Undertake continuous market research
(business ethics, a code of professional practice, and an employee code of conduct)
Provide your recommendations for the implementation of this strategy
Recommendations:
Implementation that can be recommended for the strategy is to implement a target marketing campaign that
can improve the profile for the specific property and services provided.

Part 2 Report on optimum capacity of the agency

Provide the following:
Details of the agency’s Elders Real Estate
current property
management profile As one of Australia’s most experienced agencies, we are committed to providing
outstanding real estate services for our clients. With agents and offices serving our
communities coast to coast, the Elders Real Estate national network offers experts
in residential, rural, commercial and property management.

With local knowledge and national reach, we pride ourselves on our unsurpassed
local expertise through on the ground teams while our national agent network
connects buyers and sellers throughout Australia.

With over 400 points of presence, 1200 people and access to a suite of products
like insurance, home loans, water trading and more, we’ll ensure your experience
with us is seamless and provides you the best possible outcome.

Details of minimum and Elders has sold 3 properties in the last 12 months, with an average sale price of
maximum forward $1.1m and total sales valued at $3.3m. Property average market is 26 days.
projections for the Through initiative projects such as online auctions, target audience adverting and
agency’s Property community initiative Elders plans on building their profile over the next 12
Management profile for months.
the next 12 months

Provide details of the Through innovative proprietary technology, systems and procedures, Elders
agency’s capacity and Property Management adds value over and above the traditional functions of
resources for property property management to maximize the return on investment properties. Current
management in relation management profile follows up on the maintenance issues, tenant complaints,
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 to the current property payment issues, and profitability. Recourses such as use of social media platform,
management profile flyers, call (warm calls), visual representation and community participation.
Investment of money put into marketing is seen as the resource elders enhances
other expenses includes equipment for calls and technologies.
What conclusions do you draw in relation to the agency’s capacity to improve and grow its portfolio based
on current information?

Conclusion drawn on the matter of relation of agency and the way to improve and grow the portfolio depends
on the years of compound growth, the amount of money invested, the rate of portfolio rate of return all
depends on the outcome of the performance of the agency. The more investment put into an agency the more
outcome is seen through the agency.

What conclusions do you draw in relation to the agency’s capacity to improve and grow its portfolio based
on current information?
In order to improve and grow portfolio research is important for both identifying customers and the market
itself. Knowing information about the target audience helps agency develop plans on how bouts to go about in
targeting the audience through specific structures or by removing structures that show underperforming
outcomes and adapting to ways that shows more positive results.

Part3 Report on recommendations to adjust property management portfolio mix

Research and develop one prospecting strategy for a geographical area
Provide details of the Tenant searches and appraisals  Rental collections, payments, reports and reviews
current property  Routine and special maintenance programs  Income and expenditure reviews 
management portfolio Annual state of the market reviews
mix?

What conclusions have you developed in relation to your research and analysis of the agency’s property
management portfolio mix?

Conclusions:

It is important to manage an agency property management portfolio mix regularly in order to bring asset
allocation back in line including a return in investment. Portfolio management is viewed as a single manager
which is assigned with properties and tenants in order to make sure both clients and their properties and
tenants are cared for. Hence why it is important for maintenance, inspections, and marketing through the use
of equipment and people. Theses involves, websites, accountants or bookkeepers, have anything which
provides best service with a range of resources in order to help with any issues a client may be having. In
order to build opportunities it is important that it is added to the portfolio to help prioritize the opportunities
to help achieved the desired outcome of the business. Theses involves undertaking continuous market
research, engaging in social media and gathering information to increase the agencies presence, utilizing
multimedia, undertaking sales and marketing plannings, develop marketing list for posts or mail etc.

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 Based on your conclusions, what recommendations would you make for improvement for the agency’s
property portfolio management mix?

Recommendations:
Having a complaint and feedback page to allow individuals to complete or give feedback can help provide
company growth focusing on the area of issue. Being able to have an option that shows agency the areas
which needs improving can help both agencies to work on how to meet their customers’ standards while
displaying that they do listen to customers and put customers interest in front following the ethics and codes
of the organizations.

Your name Bhaumik Shah Date 29/11/2022

Signature Bhaumik Shah

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