BSRV4603 Real Estate Sales and Marketing Assessment 1 Learning outcomes Develop positioning strategies and marketing plans to establish a personal presence in the Aotearoa New Zealand real estate context. Instructions Complete and submit your assessment according to the Open Polytechnic’s Assessments webpage. This includes information on academic integrity, word guidelines and referencing.
Include your name, student number and the assessment number. Number your pages. Submission Submit your assessment in one file. Submit your work through your iQualify course. Emailed assessments will not be accepted. You will receive an automated notice following submission. By submitting your assessment, you confirm that it is your own, original work.
Overview This assessment consists of three tasks:
Task 1: Your local market Task 2: Your personal marketing budget and promotional activities Task 3: Develop and manage a quality database.
identify and describe appropriate market segments in the area you will be likely working show how you will distinguish yourself as a salesperson and offer identifiable benefits to potential clients within those market segments. Instructions a.Briefly describe two different market segments in the area where you will most likely be working. Choose two from this list: geographic, real estate territory, property type, demographic factors and socio-economic factors. Include an example of the type of property, characteristics, or clients (sellers) you will be targeting within your two chosen market segments.
(Word count guideline: 100 words for each segment)
b.For each of the two market segments you identified in Task 1(a), explain one personal positioning strategy you could use to market yourself to potential clients.
You must explain how you will demonstrate differences between yourself and other real estate salespeople prospecting in the same market segments. (Word count guideline: 100–150 words)
c.Explain how the clients you are targeting will benefit from each positioning strategy you have referred to in 1(b). (Word count guideline: 100–150 words)
Task 2: Your personal marketing budget and promotional activities Overview This task will:
help you develop a marketing plan and activities to launch yourself into the marketplace when you begin your career as a new salesperson provide an opportunity to demonstrate your professional ability to attract real estate clients through personal promotional activities. Instructions Read the instructions for 2(a) and 2(b) before starting this task. Consider your approach carefully to plan your budget and activities.
Create a personal marketing budget to promote your real estate services to potential clients. You will also need to create promotional material for two activities.
The promotional activities must be consistent with industry and legal requirements.
a.Complete a personal marketing budget for the first three months. The budget must itemise all realistically estimated costs involved in the activities to reach your potential clients. It should show the GST-inclusive total. You do not need to budget for your personal time involved in this work.
b.Provide two self-promotional activities:
Choose one activity from List A that is consistent with a strategy you have outlined in your marketing budget in Task 2(a). (Word count guideline: 100 words)
Choose one activity from List B to help launch your real estate career and presence in the marketplace. (Word count guideline: 100 words) List A List B Flyer promoting yourself§ Suitable for distribution in your local target area§ Not a property you are marketing Door-knocking script promoting yourself§ See note 2 below Social media post advertisement promoting yourself Telephone marketing script promoting yourself§ See note 2 below Newspaper advertisement promoting yourself§ Not a property you are marketing Email to a prospective client promoting yourself Note 1: Carefully proofread your work to make sure it is free of spelling, grammar and punctuation errors. Note 2: If you have chosen a door-knocking or telephone marketing script, you must submit a copy of your script. You only need to include details of what you will say. You are not expected to predict what the other person will say.
Task 3: Develop and manage a quality database Overview In this task, you will:
summarise how to use a database effectively for lead generation and developing a strong market presence explain how you will comply with all current legislation while developing and maintaining your database. Instructions a.Summarise the key components of a database by answering the following questions: i.How can a quality database provide value to a real estate business?
ii.Why is it important to have categories within a database?
iii.What is the purpose of a prospecting plan?
iv.How will analysing data from your database grow your business? Include three examples of the type of information gathered from the data analysis.
v.How can a quality database help you, as the salesperson, develop your personal brand as well as benefit the client? Discuss at least one benefit for your personal brand and at least two benefits for the client.
vi.How can a quality database benefit a customer? Discuss at least three benefits for the customer. (Word count guideline: 50–100 words per answer)
b.Identify important categories used in a real estate database (list a minimum of five categories).
c.Explain how you will comply with the following legislation when developing and managing a database. Consider the information stored in a database, plus the marketing and communication sent to the contacts within the database.
i.Real Estate Agents Act 2008
ii.Real Estate Agents Act (Professional Conduct and Client Care) Rules 2012 (The Code)
iii.Fair Trading Act 1986
iv.Privacy Act 2020
v.Unsolicited Electronic Messages Act 2007
(Word count guideline: 50 words per answer)
BSRV4603 Marking schedule Learning outcome
Tasks
Evidence and judgement
1 Develop positioning strategies and marketing plans to establish a personal presence in the Aotearoa New Zealand real estate context.
Task 1: Your local market
a. Briefly describe two different market segments in the area where you will most likely be working. Choose two from this list: geographic, real estate territory, property type, demographic factors and socio-economic factors. Include an example of the type of property, characteristics or clients (sellers) you will be targeting within your chosen market segments.
Evidence
Learner describes two different market segments and provides an example for each, using approximately 100 words for each market segment.
Judgement
Learner has:
· correctly described two different market segments in their area
· provided an example for each of their chosen market segments.
b. For each of the two market segments you identified in Task 1(a), explain one personal positioning strategy you could use to market yourself to potential clients.
You must explain how you will demonstrate differences between yourself and other real estate salespeople prospecting in the same market segments.
Evidence
Learner identifies at least one appropriate positioning strategy for each market segment chosen, using approximately 100–150 words.
Judgement
Learner has:
· identified personal positioning strategies for each segment described in 1(a) that are likely to distinguish the salesperson from others in the area
· identified personal positioning strategies that are commercially sound and appropriate for the segments identified in 1(a).
c. Explain how the clients you are targeting will benefit from the positioning strategies you have referred to in 1(b).
Evidence
Learner identifies benefits to the client using approximately 100–150 words.
Judgement
Learner has:
· explained how the targeted clients will benefit from the positioning strategies identified in 1(b).
Task 2: Your personal marketing budget and promotional activities
a. Complete a personal marketing budget for the first three months. The budget must itemise all realistically estimated costs involved in the activities to reach your potential clients. It should show the GST-inclusive total.
Evidence
Completed personal marketing budget.
Judgement
Learner has:
· presented a realistic, itemised personal marketing budget
· presented a personal marketing budget that lists activities appropriate to reach their potential clients
· presented a personal marketing budget showing the GST-inclusive total.
b. Provide two self-promotional activities:
· Choose one activity from List A that is consistent with a strategy you have outlined in your marketing budget in Task 2(a).
· Choose one activity from List B to help launch your real estate career and presence in the marketplace.
Evidence
Two self-promotional activities are provided using approximately 100 words for each.
Judgement
Learner has provided:
· two self-promotional activities
· promotional activities that are likely to attract clients
· promotional activities appropriate for the target market
· promotional activities free of spelling and grammar errors.
1 Develop positioning strategies and marketing plans to establish a personal presence in the Aotearoa New Zealand real estate context.
Task 3: Develop and manage a quality database
a. Summarise the key components of a database by answering the following questions:
i. How can a quality database provide value to a real estate business?
ii. Why is it important to have categories within a database?
iii. What is the purpose of a prospecting plan?
iv. How will analysing data from your database grow your business? Include three examples of the type of information gathered from the data analysis.
v. How can a quality database help you, as the salesperson, develop your personal brand as well as benefit the client? Discuss at least one benefit for your personal brand and at least two benefits for the client.
vi. How can a quality database benefit a customer? Discuss at least three benefits for a customer.
Evidence
Learner correctly summarises the key components of a database.
Judgement
Learner has
i. explained how a database provides value
ii. explained why categories are important in a database
iii. described the purpose of a prospecting plan
iv. outlined how analysing data from a database can grow their business and
· provided at least three examples of information that is gathered from a data analysis
v. explained how a database can benefit a real estate salesperson and help develop their personal brand and
· provided at least two benefits a quality database gives to a client
vi. provided at least three benefits a quality database gives to a customer.
a. Identify important categories used in a real estate database (list a minimum of five categories).
Evidence
Learner identifies at least five categories.
Judgement
Learner has:
· identified at least five categories
· identified categories that are appropriate and important within a database.
b. Explain how you will comply with the following legislation when developing and managing a database. Consider the information stored in a database, plus the marketing and communication sent to the contacts within the database.
i. Real Estate Agents Act 2008
ii. Real Estate Agents Act (Professional Conduct and Client Care) Rules 2012 (The Code)
iii. Fair Trading Act 1986
iv. Privacy Act 2020
v. Unsolicited Electronic Messages Act 2007