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:
- Inventory control systems
- Role of inventory management
- Reorder point
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
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
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.