MT435 Purdue Global University Importance of Realtor Paper

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wnmmlonol21

Business Finance

MT435

Purdue Global University

Description

JOURNAL ASSIGNMENT 1

You will complete a Journal each week.

Each week, you will work on one aspect that will help you prepare for the course and reflect. Consider this Journal as study notes. This Journal will provide an opportunity to capture new ideas from knowledge gained and record your thoughts throughout the course. This will also give you an opportunity to record questions you may wish to research further in preparation for other assigned work. Please remember that copying and pasting your own notes without revising is a form of self-plagiarism.

Begin your post with the label: Unit 10: Inventory Management

Research the following topics related to Inventory Management:

  1. Demand
  2. Inventory control systems
  3. EOQ
  4. Role of inventory management
  5. Reorder point


ASSIGNMENT 2

Based on the following scenario in which you are the real estate agent, the floor plan provided, and the agency allowable in your state, address the following four parts in your Assignment essay.

Part 1: Agency and Contract:

  • As the real estate agent in your state of residence, determine your agency relationship and legal responsibilities with regards to the buyer and the seller (disclose the state you live in).
  • Recommend a viable contract that is in the buyer’s interests. Then discuss how this contract would change if written in the seller’s interests.
  • Recommend a contract to the buyer based on a dual agency relationship and explain why. Then based on this dual agency relationship, discuss how you would ensure access for your buyer to the property as part of a contract, if the current owner uses a right of way access to the property.

Part 2: Contract Issues

  • Explain the legal rights involved
  • How would you handle this occurrence from a legal and ethical perspective as the broker?

Part 3: Inspection Issues

  • How would you advise the buyer to proceed regarding the following problems found during inspection based on their desire to buy this particular house?
    • Lead-based paint and lead pipes
    • Mold

Part 4: Easements

There is a utility easement for a gas line that runs through a portion of the backyard where you know the rock star client wants to build a pool house; with this knowledge how should you proceed?

  • Provide a step by step process to deal with this issue considering the following:
    • The ethical and legal issues involved
    • The contractual issues
    • The buyers, sellers and gas company interests
    • Resolution of the problem

ASSIGNMENT 3

Interviews

This course utilizes two interviews to provide you an opportunity to interact with real-world professionals within the areas of business related to your course topics. These interviews should not be confused with your other unit Journals which are based on your experiences in this unit. These interviews require face-to-face interaction with your selected professional.

Schedule the interview to maximize your opportunity while mitigating risk of non-completion. Do not procrastinate. Plan accordingly to ensure you are not limited by schedule and ensure a buffer and contingency so that your selected professional is not pressured by your time constraints.

Read the specific instructions and grading rubric.

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Explanation & Answer

Attached.

Running head: REAL ESTATE AGENCY

1

Real Estate Agency
Student’s Name
Institution
Year

REAL ESTATE AGENCY

2
Agency and Contract

In Florida, agency relationships guide brokers and agents as they interact with real estate
buyers and sellers and how to treat buyers and sellers as they go about transactions. However,
some of the agency relationships which are allowed in Florida include single agent relationships,
no brokerage relationship and transaction broker relationship. Some of the responsibilities of an
agent to a buyer are that they need to remain loyal to them in that they need to protect the
interests of buyer. The other responsibility is to maintain the confidentiality of the transaction
and avoid sharing confidential information with others (Klayman, 2013). The third responsibility
is to be accountable. However, they should also be obedient to the buyers. On the other hand,
some of the responsibilities of agents to sellers include being confidential and not sharing
sensitive information until allowed to and also be loyal to the seller in that they do their best to
maximize the interests of the seller from a transaction. Lastly, real estate agents also need to be
exercise care to the seller and the property to avoid loss (Turner & Leavins, 2017).
A contract that is in the buyer's interest favors the buyer. An example is when buying a
house and then the seller agrees to sell his house to seller but allows the seller to move in first as
he continues to pay the house owner the remaining amount over the next three months. This
contract would be in the interest of the buyer since he is the one benefiting most.
However, if the contract, stated that the buyer should not move in the house until the
whole amount of money is paid and that the house owner can continue living in the house until
then this would be in the interest of the seller. A dual agency relationship contract would occur if
the buyer of a house asks an agent to look for a house seller for him and the agent ends up
linking him with a client who has been selling house (Brandys, Laurent & Knox, 2019). An
example of a dual agency contract is when the agent links the buyer and the seller and then asks

REAL ESTATE AGENCY

3

the seller to pay him the money in installments since the seller is not involved in the deal. To
ensure the right to access the property, I would ask the seller to abandon the easements
(Klayman, 2013). Additionally, I would also ask for a merger from the seller to ensure that the
buyer has access to the house. Lastly, I would also ask the seller to release the easement to
ensure that the buyer can have access to the property. However, if these approaches fail, I can
also seek an injunctive release for the buyer to access the property.
Contract Issues
Some of the legal rights involved in the transfer and acquiring the house in our case
scenario include the right of possession which allows one to legally own property...


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