Discuss About The Marketization Collective Owned Rural Land?
The report provides the Real estate agent licensing of the New South Wales. New South Wales is a densely place located on the east coast of the Australia, is an island where people from different places comes to visit such a beautiful place. Providing license to real estate agent for New South Wales will be a boom to the business industry of the Australia. It will add positive impact on the economic growth of Australia as more and more people would be willing to purchase homes in New South Wales. The place not developed, therefore by giving license to the agent for NSW, it open doors for more investment (Alev and Kalamees 2016).
There is a brief description about NSW stock and station license unit. NSW stock and station license unit is to provide license for the stock market as well. Appraisal depends on the features of the property as well as on the agent. Firstly, there should be perfect professional appraiser who can give the individual the correct information regarding the licensing of the real estate agent.(Chabalala 2016). Professional appraiser gives information regarding the identification of proper quality of the various products requires building a house and the pricing factor (Cross et al. 2017).
The report includes an information kit that includes the demand analysis and the trends for the real estate agent licensing unit additionally the stock and station license sector. It concludes by giving an analysis on the investment sector and the impact on the opportunities depending on the rental charges and cost of maintaining the property.
NSW real estate agent license defines the act as those people who want to run their business in terms of purchase and sale of land or else as an auctioneer of land. The auctioneer must keep a check on the land about the auction of land. The purchase and sale of land depends on this auction process only. It involves into an agreement through proper negotiation or interaction by making attractive offers for the purchase of the land. There should be complete information provided right from the introduction of a buyer or licensee of land to another agent or licensee for the real estate transaction. It also includes collection of rent payment in relation to property management service. Therefore, trading of land should be within a specified area of 20 hectares. It must contain residential premises in a rural area of the state.
While in relation to NSW stock station license business, they have to perform livestock business transactions that include purchase and sale of livestock. It involves negotiating factor with an aim to accept an offer to enter into livestock business. The negotiation can be in the form of an agreement in relation to the livestock transactions.
When an agreement made to enter into the trading of livestock business then at last the process of agistment take place in order to collect fees for livestock. There must be computer training and theoretical knowledge while applying for the licensing work. It must have approved qualification from recognized training organization along with approval statement for conducted auction of rural property and conducted sale by auction
While in relation to NSW stock station license business, firstly, they have to perform livestock business transactions that include purchase and sale of livestock. Secondly, it involves negotiating with an agreement in order to accept an offer to enter into livestock business (Alev and Kalamees 2016). There must be proper computer training and theoretical knowledge while applying for the licensing work. It must have approved qualification from recognized training organization. There must be approval statement for conducted auction of rural property and conducted sale by auction.
There are few duties and responsibilities while working with NSW real estate. First, discussing the process of sales and create unique ways to present the property or the land. Analyze the current market price and provide them with less cost initially. Arrange the detailed list of lands available on rent or for sale. The seller or the agent must first understand the buyer’s requirements and then provide the details of lands according to the needs of the buyer. Then discuss in brief about the legal rules and regulation regarding the purchase of the land. On addition, give the seller, complete information regarding the insurance schemes and the benefit on the purchase of land.
Functions of managing an agent’s responsibilities listed in this small summary. The very first function is to find out the suitable land or tenants. Then once tenants identified, the nest step is to get the complete legal documents assigned and verified. Then give the information regarding the bond with the office of the fair trading practice. The most important function is to arrange the required materials to repair the property or the land. There must be complete accurate list of records for the receipts of the raw materials and real estate records that is collection of rents.
The land inspected properly and simultaneously it should handle the problem wisely and within the less span of time. Lastly, payment of rent at minimum price with agency fees to done by cheque facilities or else in the respective nominee bank account.
Few function and roles performed by the agent of stock and station unit. First agent goes through the various market trends and their prices. Agent arranges the transport of stocks to sales yard. Then the seller takes the buyer for the inspection of the land, also to introduce the properties of land (Chambers 2014). The seller provides the accurate list of selection among livestock, stud stocks and commercial borrowings. To provide values and attributes of the livestock and giving advises on the various marketing options .Then arranging the auctioning process for the livestock. Then, process of clearing of sales for machinery and plant equipment performed by the agent.
The agent provides the information regarding the management of the farming, agricultural and stock issues. They sell huge agricultural products and chemicals used in farming sector. It also involves writing business reports for maintaining the records. Finally, they also arrange finances for the purchase of livestock property. On addition to these functions, they also act as insurance agents in order to give insurance policy for the benefit of the buyer. There is an arrangement for private sales between the agent and buyer.
There are various factors while appraising rural property in relation to industrialist, residential and commercial. In case of livestock, it can be like goats, beef, cattle, and horses. In case of crops, sunflower, oilseeds, fodder crops and various grains are the few types. In terms of horticulture, it can be apples, flowers, ornamentals, vegetables and nuts. Other can be residential factors.
Specialist advices while appraising the rural property includes few points there must include some accurate information from various specialists like accountants, agronomist, farming consultants, commodity experts, engineers, bankers and financial institutions, real estate agents, taxation specialist, water consultants, livestock advisors, investment consultants and technical experts.
The report deals with the rural property of work place for New South Wales, Australia. It gives information regarding the market trends, investment criteria and demand factor of the real estate industry of work place. Employment sector in regions of NSW achieved growth rate of 4.9 percent in the year 2015, considered as the strongest employment regional state. The state had a stable growth in the employment sector that is why it is the largest position holder in terms of employment growth among the regions. The sate accounts for major demand for the services. It achieved profit because of growth in the service sector. NSW owes 51 percent of share of service sector in 2008 due to expansion in the work force sector; it rose to 57 percent in the present year.
Investors have huge opportunities it invests in new property as demand spread over the central coast, the mid junction between Sydney and new castle (Chabalala 2016). As Sydney is the capital state of NSW therefore, there will be growth in the surplus in 2017 -18. As there is continuity in the property industry of Sydney, there is also increase in the dividend sector from state that will help the New South Wales to gain strong surplus benefit in the future.
The government of NSW made a business forecast that nearly $2.6 billion surplus to b earned by the NSW in 2018. The current year showed the growth of $4.5 billion in the surplus sector of the state. NSW will maintain its robust position in the market in the coming years. The state forecast that growth of the revenue sector would affect due to decrease in the growth of the share of national savings of goods and services tax revenue.
Due to increase in the growth of the population and under construction of building led to the decline in the supply chain with respect to demand. Therefore, investors are facing issues during price hikes as it also creates tightening of the lending sectors by banking sectors. Work place at NSW will make the economy more competent in the year 2017 and the coming years. Recent budget introduces lower rates from next year for the creation of more jobs and small business. Various measures for the growth of the industrial sector at NSW will create more encouragement for job opportunities, employment growth. According to recent market trends, investment sector created $758 billion this year, whereas $96 billion supports for the strong business through jobs for New South Wales.
As economy of NSW is in rapid growth; therefore, government of state should take initiatives in case of work force for the betterment of the NSW by taking economy to the next stage. The business transactions and conditions remain tough, competitive and tight, by creating more industries and work place, can boost up the economy of the country (Griffin et al. 2016). When there is low debt rate, government can increase the spending on infrastructure projects and in turn can create investment sector.
With the rise in population of work force, government should provide specific investment plan and criteria in order for the creation and development of infrastructural sector at NSW. Investment largely depends on few key areas like demand of the consumer with respect to market scenario, price rates and the recent demand for the place. The population of the state has a mindset that price rates of property fluctuate with respect to market condition. Investment is dependent on the market and interest rates. When Banks increases the lending rates, few investors slowly shift away from the market. Investment takes place when there is less supply with on demand in the market.
Rural property depends on economic factors and physical factors. Economic factors includes price of the land and other economic variables. Physical factors include climatic condition, topography, and type of soil and water availability (Guo-qing 2014). Rural land business depends on the overall rural economic impact that varies from region to region. Appraising rural property in terms of market analysis depends on comparative analysis on the other sale of lands and recent receipts of business scenario in the real estate.
Comparison can be in the form of locality and the usage of rural property, date of valuation, physical attributes and title of the tenure. In terms of the first comparison factor, that is location and usage of rural property, therefore this feature depends largely on the selection process. If selected in more closely to the other land will get affect by same socio economic factors (Cross et al. 2017). They will share same amenities like transport, roads and shopping centers. Factors of comparative depend on the zoning of the land. The second factor deals with the date of valuation due to which market keeps on changing. With respect to market fluctuations, sale of land takes place. Third feature includes physical attributes and title of the tenure that depends on the selection of the location. Therefore, as there is same title of the tenure so physical attributes are same for both the tenures. Problems arise when there are covenants and easements.
When sales prices are high and the buyer do not have adequate knowledge regarding the purchase of the land and the market rate then there will be forces selling of land. Appraisal of land includes like land value, building value, ancillary improvements, current depreciation charges for betterment, current rental returns and capitalization rate. Capitalization rate includes income-generating properties. Apart from market analysis, there is direct comparison also that means there is cross checking of the land rates with other similar land rates in terms of selling price, locality, cost of production and quality.
An example to understand more precisely given with respect to above information. Suppose in relation to the purchase of a new land for the set up of office, there are few things to keep in check while building an office. Therefore, seller provides the detailed information regarding the land, the legal document to complete the formalities and the brief description regarding the stock and station license unit. The agent provides information regarding insurance of the office and the future of the employees working.
The purchase and investment of land depends on few points like the comparative stage of the location in terms of available markets, other industries and offices, land quality, surroundings and the locality, soil quality and water availability(Zou, Zhao and Mason 2014). A good appraiser gives an idea on how to choose a comfortable and perfect site for building home (Lim et al. 2015). While purchasing the house, surroundings matters a lot means in terms of availability of market and other homes and families.
Conclusion
The report gives the statement on the appraisal of the real estate agent at New South Wales and its effect on the economy and the market. Rural property is a type of property created in an unorganized area. The report provided the detailed discussion on the overview of the rural property, its effect and the various trends. There are few roles and responsibilities while working with NSW real estate. It also gives a brief note on the function performed by the agent of stock and station unit. On addition, it gives the statement on the effect of investment pattern and market condition of the state. The report provides an information kit on workplace property with its impact on investment, demand analysis, market report and trends. It concludes by giving an example of an office as a rural property and additionally it provides various factors of appraisal of the property.
References
Alev, Ü. and Kalamees, T., 2016. Evaluation of a technical survey and the renovation needs of old rural wooden houses in Estonia. Journal of Building Survey, Appraisal & Valuation, 5(3), pp.275-290.
Chambers, R., 2014. Rural development: Putting the last first. Routledge.
Chabalala, J.J., 2016. Participatory rural appraisal approaches, to improve public participation in South African EIA (Doctoral dissertation, North-West University (South Africa), Potchefstroom Campus).
Cross, R., Baumber, A.P., Ampt, P.R., Metternicht, G. and Berry, E., 2017, July. Identifying opportunities for cross-property landholder collaboration for conservation and production. In Institute of Australian Geographers Conference 2017.
Guo-qing, H., 2014. Rural Houses of Adobe Structures Analysis and Research. Earthquake Resistant Engineering and Retrofitting, 3, p.021
Griffin, T.W., Mark, T.B., Ferrell, S., Janzen, T., Ibendahl, G., Bennett, J.D., Maurer, J.L. and Shanoyan, A., 2016. Big Data Considerations for Rural Property Professionals. Journal of the American Society of Farm Managers and Rural Appraisers, pp.167-180.
Lim, J.H., Cho, E.J., Choi, S.M. and Kim, S.C., 2015. Analysis on Characteristics of Installing Environment for Improvement of Boundary Barriers in Rural Villages. Journal of Korean Society of Rural Planning, 21(1), pp.89-102.
Zou, Y., Zhao, W. and Mason, R., 2014. Marketization of collective-owned rural land: A breakthrough in Shenzhen, China. Sustainability, 6(12), pp.9114-9123.
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