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The 4 methods of sale and specialist properties

The Royal Institution of Chartered Surveyors
Course summary
6 hours
420 GBP excl. VAT
Full time
London
Next available date: Various date - London

Course description

The 4 methods of sale and specialist properties

Understand how all four methods of sale work and how estate agents can identify which method best suits which type of property and client. Enhance your performance and benefit to both you and your business professionally and financially, in accordance with the TPOS Code of Conduct.

Comprehend the legislation and different regulations which apply to listed buildings, barn & industrial conversions and properties in Conservation Areas, to expand your knowledge and your skills as a real estate agent.

The majority of RICS estate agents deal with private treaty sales only, although practitioners are qualified to deal with all methods of sale. Some use sealed bids occasionally, but fewer use auction and even fewer formal tender, both of which can achieve better results for your clients.

This course shows how all 4 methods of sale work and how the estate agent can identify which method best suits which type of property and client. Estate agents have a legal requirement to advise clients on the best method to sell their homes and this has been highlighted by the Property Ombudsman's criticism of agents who do not advise auction when it is clearly the best option.

With online agents increasingly eating into market share and the general trend of estate agency going down market, knowledge of listed buildings, conservation areas, barn and industrial building conversions can increase the quality of instructions and lead to higher commissions being achieved. These properties do not only often command higher values, it is usually easier to secure higher fees on their sale. Also, with increased surveillance of consumer protection regulations and other estate agency legislation, knowledge is a defence against prosecution.

If you use everything you have learned from this course, you will show that you are a cut above the average estate agent, this will help you to secure instructions that you would not otherwise have.

Discounted rates for RICS members.

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Outcome / Qualification etc.

By the end of the course you will be able to:

  • Identify the key elements of each methods of sale.
  • Describe the key pieces of the law surrounding Private Treaty and Auction.
  • Understand and apply the new practice guidance from ombudsman and trading standards
  • Identify the best way to use the informal tender approach
  • Provide proof of due diligence
  • Gain the basic knowledge to make the most out of a sale of specialist properties

Training Course Content

Private Treaty

  • The law behind private treaty sales
  • How other English Law jurisdictions have improved private treaty
  • Lock-out agreements
  • The estate agent’s role
  • Advantages and disadvantages

Auction

  • The law relating to real property auctions
  • Public or private
  • Marketing and the role of the estate agent & auctioneer
  • Auction procedure
  • The powers and responsibilities of the auctioneer
  • Advantages and disadvantages
  • Conditional auctions and the “modern” method

Informal Tender

  • How to use this method correctly
  • Bad practice
  • New practice guidance from ombudsman and trading standards
  • Advantages and disadvantages

Formal Tender

  • How this method works
  • When to use it
  • Marketing
  • Advantages and disadvantages

Specialist Properties

  • Listed Buildings, why is it important to have knowledge of them?
  • Conservation Areas, what are they?
  • Barns, Industrial buildings, criteria’s for granting planning permissions
  • Criteria, Procedure and checking for listed status
  • Common mistakes
  • The new National Policy Framework rules

Why choose The Royal Institution of Chartered Surveyors

Established for over 150 years

130,000+ qualified and trainee professionals

Training available in 5+ formats

About provider

RICS - The Royal Institute of Chartered Surveyors

The Royal Institution of Chartered Surveyors (RICS):
World's leading professional body for qualifications in land, property and construction

RICS is professional, independent organisation with more than 118,000 qualified members and over 50,000 students and trainees in over 140 countries, established in the UK by Royal Charter. It is committed to setting and upholding the highest standards of excellence and integrity...


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The Royal Institution of Chartered Surveyors

Parliament Square
SW1P 3AD London

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