PROP 7001EX - Property Research and Marketing

External - Semester 1 - 2016

This course develops the strategic ?meta-skills? necessary for real estate professionals to manage complex client problems. It includes communication, problem definition and research methods to enhance real estate decision making. The course makes explicit linkages to other relevant courses, demonstrating how marketing underpins the development of real estate products.

  • General Course Information
    Course Details
    Course Code PROP 7001EX
    Course Property Research and Marketing
    Coordinating Unit School of Architecture and Built Environment
    Term Semester 1
    Level Postgraduate Coursework
    Location/s External
    Units 3
    Course Description This course develops the strategic ?meta-skills? necessary for real estate professionals to manage complex client problems. It includes communication, problem definition and research methods to enhance real estate decision making. The course makes explicit linkages to other relevant courses, demonstrating how marketing underpins the development of real estate products.
    Course Staff

    Course Coordinator: Nicholas Nunnington

    Topic covered will include decision framing, selection of appropriate research methods, forecasting and its application to real estate, synthesis and critical analysis of real estate data and the application of market research to support development decision making. Analysis of the drivers of change impacting upon real estate decision making will help future proof development decisions.

    For example, the application of current and forecast data to determine the target demographic for a development, and the end user requirements that would shape the form, size and specification of the development.

    The course will make explicit linkages throughout to other relevant courses, to demonstrate how important marketing (in its broadest sense) feeds into and underpins the development of real estate “products”.
    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

  • Learning Outcomes
    Course Learning Outcomes
    On successful completion of this course students will be able to:

    1: Interpret the theory and methodologies of marketing and research in a real estate contexts
    2: Apply fundamental aspects of marketing theory (for example the “four P’s) in a real estate context.
    3: Develop an appropriate promotional plan for a given development.
    4: Select, synthesise and critically review data and information that supports real estate decision-making.
    5: Select and apply appropriate statistical and forecasting methods and models for a given problem and recognise their strengths and weaknesses.
    6: Apply demographic forecasting including where appropriate psychographic analysis to real estate decision-making.
    7: Interpret drivers of change and how they impact upon end users and other stakeholders in the development process.
    8: Present marketing and research analysis, synthesized from a variety of primary and secondary sources, in written reports and oral presentations, to clients at an appropriate professional standard.
    9. Design and create promotional objects relevant to a development, its target market and associated property product(s).
    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)
    Deep discipline knowledge
    • informed and infused by cutting edge research, scaffolded throughout their program of studies
    • acquired from personal interaction with research active educators, from year 1
    • accredited or validated against national or international standards (for relevant programs)
    1, 2, 4, 5, 6
    Critical thinking and problem solving
    • steeped in research methods and rigor
    • based on empirical evidence and the scientific approach to knowledge development
    • demonstrated through appropriate and relevant assessment
    3, 4, 6, 7, 8, 9
    Teamwork and communication skills
    • developed from, with, and via the SGDE
    • honed through assessment and practice throughout the program of studies
    • encouraged and valued in all aspects of learning
    3, 4, 5, 6, 7, 8, 9
    Career and leadership readiness
    • technology savvy
    • professional and, where relevant, fully accredited
    • forward thinking and well informed
    • tested and validated by work based experiences
    1, 2, 3, 4, 6, 7, 8, 9
    Intercultural and ethical competency
    • adept at operating in other cultures
    • comfortable with different nationalities and social contexts
    • able to determine and contribute to desirable social outcomes
    • demonstrated by study abroad or with an understanding of indigenous knowledges
    4, 6, 7, 9
    Self-awareness and emotional intelligence
    • a capacity for self-reflection and a willingness to engage in self-appraisal
    • open to objective and constructive feedback from supervisors and peers
    • able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
    3, 4, 6, 7, 8
  • Learning Resources
    Recommended Resources
    Subscription to specialist journals such as The Journal of European Real Estate Research, from the Emerald Group, as well as Generic and Real Estate specific marketing texts should be considered and available through the Universities journal subscription processes.




    Online Learning
    University Email:
    The school uses the University email system to get in touch with the students. So it is imperative that you check your email regularly and keep up to date with any new announcements.

    MyUni:
    MyUni is an essential online tool which will be used to communicate information regarding the course including details of assignments and interim grades. There are many other learning resources and assessment pieces that rely on the MyUni system for delivery. Therefore it is recommended that you familiarise yourself with the various functions of MyUni and employ it to its fullest extent. https://myuni.adelaide.edu.au.

    All materials will be uploaded to the MyUni site or be available through the university library. Academic papers, journal articles, professional articles and appropriate data and case study information will be provided to support problem based activities using the MyUni facility. In particular, research papers , market studies, demographic analysis and case studies produced by leading real estate consultancy firms such as JLL, CBRE and Cushman& Wakefield will provide contemporary practice based information to support the students in their assessed projects.

    Discussion Board:
    The MyUni Discussion Board can be used to interact with other students and tutors and is an essential tool to discuss information and increase your understanding of issues.

    Noticeboard / Handbook:
    General information about the activities at the School is available online from the Student Noticeboard which can be accessed at
    https://unified.adelaide.edu.au/group/professons-studentarchitecture/ current-student
    Students can also access a copy of the Student Handbook at the following link:
    https://unified.adelaide.edu.au/group/professons-student-architecture/enrolments
  • Learning & Teaching Activities
    Learning & Teaching Modes
    The learning and teaching strategy is an active learning one, using a range of problems, application and case studies. The basic content of the course is delivered on line, however the themes will be integrated and applied using a series of case based problems and two dynamic team based assessed activities using simulations and/or real asset management case studies based in Adelaide. The approach to assessment is one of integration with teaching and “assessment for learning” rather than of learning. Interaction through peer evaluation and discussion will enrich the online experience. The learning and teaching approach will emphasise and clearly demonstrate the many linkages marketing has with other courses, the development process and the real estate cycle.

    Study will be highly structured but may be undertaken at the student’s convenience. Deadlines for assessment will be strictly enforced which will provide an overall framework for the semester of study.
    Workload

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    Students are not required to attend face to face classes but will have access to the program co-ordinator for face to face enquiries. Regular structured on line study and contact with the course co-ordinator is expected for the first four weeks of study. The online environment will be used to contact the course co-ordinator who will monitor student queries via the MyUni site on a weekly basis. Peer interaction and support will also be used to encourage active learning and create a community of practice, valuable to take forward into the assessed face-to-face projects. The initial stages of the course, acquiring the basic knowledge that underpins the application, will be assessed by the online test. Students are then required to be present in Adelaide to undertake field survey work relating to the two assessed projects. Both of these will require student team meetings, either virtual or face-to-face, and collaborative work including field surveys of the relevant sites. The projects will be intense, with a challenge based, integrative problem solving approach.

    The time allocation should reflect the assessment weighting in the schedule below.
    Learning Activities Summary
    Essential information on property research and marketing concepts and approaches, definitions of activities, theoretical approaches, forecasting and analysis techniques and contemporary approaches to promotion of property “products” will be dealt with by structured readings and problem based/case study exercises. The approach is progressive, building upon fundamental concepts and knowledge acquisition with increasingly complex problem based exercises.

    The basic underpinning theoretical concepts of the principles of marketing, research processes and methodologies related to market intelligence and how research feeds into the design, development and promotion of real estate product(s) will be assessed through an on line individual test.

    The first project is designed to provide an underpinning (and in most cases a resource base) for the major integrated development project in the second half of the programme. It requires learners working in teams to apply appropriate research and marketing processes to complete a thorough analysis of the economic and market context for a site of their selection in their place of study. This will require application of the knowledge acquired and content of this course to a specific site. It will require a “big picture” analysis of macro economic, local economic, demographic and other contexts within which the site is located. The output of the project will be a professional standard marketing report that indicates the process, data utilisation, critical analysis of the data, synthesis of the data and its use to formulate understanding and recommendations for the type of development product (size, specification, quality, branding etc.) and timing of entry to the market.

    The second project encourages individual and team CREATIVITY as it gives an open brief to prepare a promotional plan for the development scheme /property product(s) identified in Project1, including appropriate and justified costing information.

    The group will also be required to produce TWO relevant, promotional OBJECTS.

    These objects could be models, videos, animated fly throughs, web sites, brochures or any other promotional object which is appropriate and relevant to the development scheme /property product(s) being promoted.
  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    ASSESSMENT TASK COLLABORATIVE / INDIVIDUAL WEIGHTING WORD COUNT / TIME DUE DATE LEARNING OUTCOME
    On line test Individual 20 1 HOUR 1, 2, 6, 7
    Project 1 Collaborative 40 2000 words 2, 3, 4, 5, 6, 8
    Project 2 Collaborative 40 Presentation of
    1) 1000 word Promotional Plan and Marketing Budget.
    2) TWO Promotional OBJECTS. Displayed and/or presented at an Exhibition.
    2, 3, 7, 8, 9, 10


    All assignments must be submitted at the time as indicated above. Note that NO LATE submissions will be accepted unless it is due to illness and other accepted circumstances as explained in the School's Student Handbook
    Assessment Detail
    Project 1
    The first collaborative project will require students to prepare a thorough market research analysis for a site in their given locality. This assignment can be used to underpin later assessment on the same site and also to prepare students for processes required for major projects later in the course. The project will require appropriate data collection, desk and field analysis and synthesis of information to examine, for example:
    • the macro economic fundamentals
    • the micro economic details
    • population, immigration and other demographics
    • supply (potential competition in terms of both volume and type of products entering the market)
    • demand
    • absorption rates (the take up of supply current and forecast)
    • product characteristics and priorities of the identified target market(s)

    Learners must present a written marketing report outlining their conclusions from their research with recommendations as to the type of product (size, specification, quality, branding etc.) and timing of entry to the market.

    This project is likely to be based on a mixed-use scheme and learners will be encouraged to focus on the RESIDENTIAL market as this offers the greatest scope for application of the concepts studied in this course.

    Project 2
    The second project follows on from Project 2 and requires learners to develop a promotional plan and examples of promotional materials (objects) that they recommend as being the most effective and appropriate means of promoting their development scheme.

    The outcomes of the project will comprise two elements:

    1) A fully costed promotional plan with timings and justification of the marketing budget needed for the plan.

    2) The development of two promotional OBJECTS contained within the plan that form the main strategic components of the promotional strategy.

    This project encourages individual and team CREATIVITY as it gives an open brief to produce TWO relevant, promotional OBJECTS. These objects could be models, videos, animated fly throughs, web sites, brochures or any other promotional object which is appropriate and relevant to the development scheme /property product(s) being promoted. Students will be encouraged to be creative but ensure that their objects are relevant and effective.

    The objects will be presented in an EXHIBITION format where the learners Peers and tutors will be asked to judge the effectiveness and quality of the promotional OBJECTS being displayed/demonstrated in the Exhibition.

    • Final results for the course will only be available through Access Adelaide and students SHOULD NOT contact the course coordinator or the tutors for the same.
    • Most assignments will be marked within 3 weeks of the submission and the interim grades will be made available through the My Grades system. Students are expected to inform the Course Coordinator if there are any errors with the marks entered on the system.
    Submission
    Late Submission:
    • The school will NOT accept late submissions and any such assignment will receive zero marks. This also applies to electronic submissions.
    • Printing delays & hard disk crashes will not be entertained as legitimate causes for delay, so please ensure that the work is finished in advance.
    Re-submission:
    • The school has a resubmission policy whereby students can redeem failed work by submitting additional work for a maximum of 50%.
    Good practice:
    • Students should ensure that they regularly backup their work on multiple locations as hard-disk crashes are an unfortunate reality.
    • When relying on community printing facilities, students should attempt to finish their work in advance to avoid unnecessary delays.
    • Students must retain a copy of all assignments submitted (digital or hardcopy), as originals may be lost during the submission process.
    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

  • Student Support
  • Policies & Guidelines
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