Note: All The answers should be For NSW. CPPREP4002 - Access and interpret ethical practice in real estate Question 1: In 100 words, explain the impact of fraudulent activities on consumer and...

2
CPPREP4002 - ACCESS AND INTERPRET ETHICAL PRACTICE IN REAL ESTATE
Table of Contents
Q1. Impact of Fraudulent Activities on Agency and Consumer    3
Q2. Strategies for Responding towards Discrepancies between Personal or Agency Ethical Practices and those in Standards for Real Estate Ethical Practice    3
Q3. Resolution of Complaints    4
Bibliography    5
Q1. Impact of Fraudulent Activities on Agency and Consumer
    Fraudulent activities cause significant menaces to the financial state, safety and security of Australians in general. These activities include deceiving someone in order to achieve something valuable such as personal details, documents, money etc. Counterfeit activities have social, emotional and financial impacts on the victim.
Victims of real estate frauds undergo significant capital loss and emotional distress due to counterfeit activities. In some cases, psychological trauma extends to such an extent that the victim might even commit suicide[footnoteRef:1]. Some ACCC reports state that financial loss due to fraud...