The magazine for real estate professionals who are the difference. The Journal of the Real Estate Institute of Victoria / APR. 2020 / VOL. 84 NO. 7
Exciting new collaboration:
REIV and the AFL Coaches Association join forces
Features
The Estate Agent is published by the Real Estate Institute of Victoria.
PUBLISHER REIV 335 Camberwell Rd, Camberwell, Victoria 3124
Data Best Practice insights
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EDITOR Sarika Bhalla – sbhalla@reiv.com.au PARTNERSHIPS & ADVERTISING Emma Burton – eburton@reiv.com.au
average house size reducing by 1.7 per cent and the size of units reducing more Established in 1936, the RealbyEstate significantly 11.7 per cent.
Institute of Victoria (REIV) is the peak representative body for real estate However, houses in Inner and Middle Melbourne sawMission slight increase – 3.4 per professionals in Victoria. Our is cent and 2.2 per cent, respectively. “To enhance the professional excellence of our members to the benefit of the Unit/apartment sizes fell over time communities theywith work within, and to Outer Melbourne recording the advocate and represent interests”. biggest their decrease of 17.5 per cent over 10
years. Outer houses are also decreased in size 3.4 per cent, most likely due to Connect with REIV on by social media. urban sprawl. Find us on:
facebook.com/REIVictoria Land Value @REIVictoriaWith property values going up over that
time, buyers are paying more for less. REIV The median price per square metre for a house in Melbourne metro was $731 @REI_Victoria in 2009, increasing to $1339 in 2019, an increase of over 83.3 per cent.
PRODUCTION aap studio
Units in metro Melbourne have performed even better, going from $1570 per square metre in 2009 to $2930 in 2019, a jump of 86.6 per cent. Once again outer suburbs saw the highest increase on both houses (91.5 per cent) and units (105 per cent).
Selling Method While private sales remain dominant, the combative nature of multiple prospective home buyers going to head to head in a compelling bidding war with their dream property on the line continues to fascinate more and more people. The proportion of properties being sold via auction has grown significantly over the past six years, reaching the highest level of 22.3 per cent in 2017. About 265,000 homes were sold under the hammer between 2009 and 2019, DISCLAIMER averaging 17.4 the perviews cent orof all property Unless otherwise specifically expressed, transactions Victoria. opinions appearing in The Estate Agentin (EA) are those of the authors and do not represent the views of The Real Estate Institute of Victoria Ltd (REIV). The REIV About 95 per cent of all auction sales gives no warranty about the accuracy, completeness, in Victoria in metro or reliability of the content of EA. Thehappen entire content is Melbourne. general information only.However, It is not advice as trend within thereorisintended a visible advice and in no circumstances should be relied upon as metro Melbourne. such. Readers and third parties should verify the content and seek their own independent advice before making any decisions, financial or otherwise, based on what they have seen or read in EA. The REIV and EA do not endorse or take any responsibility for material on third party websites referred to in the EA.
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Changes to the Residential Tenancies Act It’s important that all agents familiarise themselves with the Aboutnew 265,000 regulations
Middle Melbourne has made a significant shift to auctions with almost 40 per cent of sales being made via auction in 2019, up from just 24 per cent in 2009.
homes were sold under the hammer between 2009 and 2019, averaging 17.4 per cent of all property transactions in Victoria.
Outer Melbourne is not far behind, growing from 4.3 per cent in 2009 to 11.6 per cent in 2019. 2017 recorded the peak at 17.4 per cent of sales via auction.
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Auction is often preferred for more expensive properties, as we can see with the higher proportion of auction sales in the inner and middle ring which includes some of the high-value suburbs.
An update on property services qualifications New training package is on its way for Estate Agents and Agents’ Representatives
For more analysis and insights, visit reiv.com.au/research
AUCTION VS PRIVATE SALES - VICTORIA
Auction
Private
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What a difference a decade makes
50.0% 40.0%
Looking back at the trends of the 2010s
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AUCTION SALES - METRO MELBOURNE
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Get your Saturday afternoons back
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PropertyData can save agents time and enhance their brand with vital communication tools
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THE ESTATE AGENT – APRIL 2020 | 27
Contents
Contents President’s report
Page 4
CEO’s report
Page 6
Development Learning from AFL Coaches
Page 8
Bulletin
Page 10
Legislation
12
Clearing up confusion over retail leases
Clearing up confusion over retail leases Changes to the Residential Tenancies Act
Page 12 Page 17
Best practice Page 18
Frequently asked questions
Training
30
An update on property services qualifications Family violence – obligations of a real estate agent
Page 20 Page 22
Upcoming events
Page 24
Data insights Looking back at the trends of the 2010s Efficient processes with PropertyData
The next steps for the REIV Constitution
Page 26 Page 29
The REIV Constitution The REIV Board outlines why change is necessary
The REIV Board would like to thank all Members who voted on the proposed constitution
Page 30
Members New Agents share their experiences Owners corporation – a growing sector Connecting members with each other and the REIV
Page 32 Page 33 Page 34
In memory
Page 37
Member milestones
Page 37
Around the REIV
Page 38
34 Connecting members with each other and the REIV Chapter and Division Committees provide focal points for REIV engagement with Members
THE ESTATE AGENT – APRIL 2020 | 3
President’s report
Leah Calnan REIV President
Whether it’s technology, the new generation of employees or the changing client among other things, we have to ensure our businesses remain progressive and relevant for the years ahead. I thought it would be great to take a walk down memory lane to when I first started my career as a property manager. It seems a long time ago! Looking back everything was very different; the employment arrangements, leadership styles, clients, office layouts and locations were all different.
Here we are in 2020. Boy has it been a roller-coaster so far! The world is changing quicker than ever before and it is imperative that we understand those changes and their impact on our business.
Our communication style was different – we used the thing on the desk called the telephone, now referred to as the “land line”, if you still have one. Prospective buyers would come to the office and the sales agents would chauffeur them around – house to house. Clients would walk into the office for a chat, just because they were walking past. Saturday open for inspections were advertised in The Age newspaper. We phoned the listings through each Thursday afternoon. Who else would speak to Pam from The Age?
Pricing was “by the line” so our property descriptions became shortened slang; BIR, WIR, Sep Lounge, DLUG and my favourite SLUG (Single Lock Up Garage). Properties for sale and lease could be multi-leased with other local agents in order to open up the market and secure a sale/lease. The front-window displays for properties for sale were most popular on Thursday, Friday or Saturday nights because that’s when people were out and about picking up their takeaway fish and chips or pizza order.
Although the world we live in now is now very different, we can use the learnings gathered from years of a vibrant real estate industry and combine it with fresh ideas, modern technology and advanced thinking. Leah Calnan – REIV President
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President’s Sectionreport head
We wrote letters and waited two weeks for a written reply. The mobile phone was fixed inside the car. The car phone was very popular in the late 1990s and perhaps if you were a super-fancy sales agent, you would have a car phone that could be removed from the car. Software was DOS-based, and all we needed to do, was retain some basic information about our owners, tenants and property. You can’t forget the staid blue screen! What about the doc matrix printer – the familiar sound of end-of-month printing vibrating throughout the office. Receipting of rent wasn’t directly into a software or even into a receipt book, we used Kalamazoo. Property owners were paid just once a month and the accounts team spent hours printing or perhaps even writing the cheques. Followed by the receptionist’s daily trip to the bank carrying thousands of dollars in cash. The Property Manager did everything from showing prospective tenants through properties for lease, processing applications, following up rent arrears and actioning maintenance to receipting the rent and answering walk-in enquiries at the office. The accounts person would come into the office once a week or fortnight and managed the rental trust, sales trust and payroll. The after-hours process for urgent repairs was often the Property Manager’s personal mobile number and it would be rare for a tradesperson to be called out on the weekend. Returning to 2020; although the world we
REIV President Leah Calnan speaks to a Channel Nine news crew about the COVID-19 pandemic.
Virus pandemic a test of our resilience but we will recover As we go to print with the April 2020 issue of the EA magazine, we are all grappling with the challenges created by the coronavirus pandemic. Only time will tell the true impact of the disease. No doubt, economies and livelihoods will be hit hard but health and well-being of near and dear ones should remain the key focus at this time.
changes that you are making in your business. To assist with industry wide discussion and sharing of ideas and issues, we will consolidate information via the channels below: • All REIV email communications can be accessed at reiv.com.au/covid-19
Once again, our resilience as a society and community will be tested. It is critical that we support each other in every way possible – call, have an online chat, check on each other.
• Members may join the REIV Facebook Group “Managing real estate business during the COVID-19 pandemic” to share ideas that help businesses during this period.
Please remember, this is temporary and business will return to normal. We have recovered strongly before.
• We will continue to develop tools and resources to help Members with managing their business during this time. This can be accessed at reiv.com.au/covid-19
Please contact the REIV Information Officers if you wish to discuss any
live in now is now very different, we can use the learnings gathered from years of a vibrant real estate industry and combine it with fresh ideas, modern technology and advanced thinking. We need to communicate with our clients the way they want to be communicated with. Technology should be embraced and acknowledged as a friend and not something that is going to replace us. Our leadership style for our team members must vary, change and adapt to each team member – there is no longer one style that fits all.
Legislation changes are not going to stop, 2020 is specially a year of change for Property Managers. It is imperative we develop and train our people. I still hear Directors say, ‘What happens if I train them and they leave?’ My only response is what happens if you don’t train them and they stay? Until next time, Go Dees! Leah Calnan REIV President THE ESTATE AGENT – APRIL 2020 | 5
CEO’s report What a difference a year makes. It’s been a time of the good, the bad and the ugly. Gil King REIV CEO
This time last year we observed Victoria’s, and indeed Australia’s, obsession with the property market and how this has replaced our previous fascination with the Reserve Bank’s interest rate movements. Very little movement in the cash rate for such a long time quelled that fascination. While there is some semblance of its return considering the cash rate has dropped from 1.5% to 0.25% in the past 12 months, there is not much more room to manoeuvre. A little over a year ago we reflected on the (then) newspaper headlines screaming that the residential property bubble had burst and that in the wake of the Banking Royal Commission it is only going to get worse as the Federal Election loomed ever closer. Well, the Federal Election has come and gone. The so-called “bubble” didn’t burst and the doom and gloom that was predicted never reached the depths predicted by the ‘experts’.
Yes, there were difficulties and the REIV recognised the difficulty that many of our Members faced during a period of significant decline in the property market. What was pleasing though was that we have come through relatively unscathed and we have been seeing strong signs of recovery for the past nine months with increased volumes of homes for sale, stronger clearance rates and the REIV’s recent announcement of a close on $860,000 December 2019 quarterly median house price in metro Melbourne – the highest quarterly median on record. This positivity has now been cast into disarray in the wake of the COVID-19 pandemic. But more on that later. The REIV continues to provide our data twice weekly to the office of the Victorian Treasurer. Such is the accuracy and
timeliness of our data, the Treasurer’s office requested that he be provided with this information regularly. We also provide quarterly reports to the Reserve Bank’s office here in Melbourne. Our latest data release revealed that for the December 2019 quarter, Melbourne’s median house prices increased by 3.7% and the unit median rose by 3.8%, exceeding $850,000 and $630,000 respectively, for the first time. Regional Victoria is a standout: achieving a 2.2% increase in median house prices and a 3.2% increase in unit prices. The median price for auction sales also achieved a new record with houses in Metro breaking the $1 million barrier for the first time and units surpassing $700,000. This is a far cry from the 30% drop in house prices that some ‘experts’ were predicting. As we know, it is the
Life will be difficult for some time and the way we do business will change. People will still need somewhere to live – more than ever – and we can only wait to see the impacts and prepare our businesses as best we can. Gil King – REIV CEO 6 | THE ESTATE AGENT – APRIL 2020
CEO’s report Section head sensational story that gets the headlines, not necessarily the rational and informed story. With this good news comes the bad. The pets legislation has now been brought forward and its full impact is yet to be seen. We firmly believe that VCAT will be swamped with applications from landlords not wanting pets in their property. We understand the sentiment of pet ownership, but the balance is all skewed. The REIV will call on the Victorian Government to make two fundamental changes to the legislation. The definition of what a pet is needs to be narrowed to dogs and cats. One unintended consequence is that VCAT has confirmed that it will consider the relevant local government’s ‘as of right’ allowance for any animal on a property when determining whether the landlord’s objection is reasonable or not. All councils (except for the City of Melbourne which has no restriction) allows two dogs and two cats ‘as of right’. So now it is not about the right to have a pet, it is about the right to have two dogs and two cats.
Add to this the myriad animals that are also allowed ‘as of right’ by various councils and we end up with a menagerie in tenanted properties. Rats, mice, poultry, birds, reptiles, bees, goats, sheep, fish, rabbits, turtles, frogs, guinea pigs, pheasants, turkey, ferrets and others are now considered as pets and all require a separate application for each animal; not every species, each animal. Work that out for bees.
overseas, but not in another State. Think of how this will impact especially in the border towns. As Charles Dickens put it in Oliver Twist in 1838: “The law truly is an ass.”
Also, if the tenant really wants a pet and it is reasonable then they should be making the application to VCAT if the landlord refuses. That’s the way it has worked for years and at least shows some commitment to the cause. The reversal of the onus for making an application to VCAT will clog the system, more than the use of paper towelling in the sewerage system.
So, what is the ugly? COVID-19 is the most impacting health issue we have faced and was described by the Prime Minister as “a once in a 100-year event”. It is not just ugly, it is going to get a whole lot uglier. The true effects of this health issue are yet to be understood however life will be difficult for some time and the way we do business will change. People will still need somewhere to live – more than ever – and we can only wait to see the impacts and prepare our businesses as best we can.
The recent appeal court decision that VCAT has no jurisdiction in matters where one of the parties resides in another State. It does if they reside in a Territory such as ACT or NT, or even
The other bad news is the additional burden placed on estate agents regarding material facts. It is vital that all agents and property managers read the information on the REIV website.
Gil King CEO, REIV
THE ESTATE AGENT – APRIL 2020 | 7
Development
The REIV works with AFL Coaches Association to inspire excellence in real estate Building “The REIV Difference” is an ongoing process. This year we work with the AFL Coaches Association to learn from their vast experience in building resilience and a highperformance culture.
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Over the course of the year we will share advice, strategies and insights from the highly accomplished AFL coaches that can be applied in real estate business. Our aim is to support our Members: Be the best you can be. “The REIV Difference” is in the knowledge, skill and expertise a Member brings to real estate. The REIV mission first and foremost is to “enhance the professional excellence of our members”.
You play as you train Whether its sport, work or life in general, the quality of our training is reflected in everything we do. Those that train regularly, constantly reinvent themselves and do so with the best trainers, are the most likely to succeed. The REIV maintains its status as a Registered Training Organisation to ensure Members have access to accredited, high-quality training.
Members are also required to This year will see a renewed focus undertake continuous professional on helping Members understand and development, staying up to date with enhance some of the foundational legislation. elements that help people reach their potential. We will continue Measure performance to work with government to excel and stakeholders to This profession Data and statistics be at the forefront of demands resilience help you understand legislation and policy and adaptability. yourself and your that impacts real estate. Some of the great competition better. We will also support our AFL Coaches use data Members with access to examples of human to measure, review and information and expertise resilience can be improve performance. on a range of issues that found in sport. We impact not just business take inspiration Opinions backed by success but also personal data provide a compelling well-being. from the physical and mental strength basis for decision-making. This is true in real estate Our partnership with the demonstrated by too. Your Institute has AFL Coaches Association the players. always understood the will give Members importance of data to access to the exceptional you and your business. knowledge and expertise PropertyData, a wholly of the Coaches that can owned subsidiary of the REIV, was set up also be applied for personal development. almost 40 years ago and prides itself as We will work together on ways to bring the most credible source of insights on out the best in ourselves and our teams. the Victorian property market. Watch out for videos, events and Be Match Fit information over the year. Some of the What does “match fit” mean to you? Just themes we will be exploring with the as an AFL player undergoes physical and AFL coaches are:
Development
AFL senior coaches with REIV CEO Gil King and REIV President Leah Calnan.
mental training to perform at their peak capacity, an agent also needs to prepare to perform at their best. Most real estate professionals work long hours, visit homes of strangers, interact with people they don’t know much about, and are constantly putting themselves in situations that are not completely in their control. This profession demands resilience and adaptability. Some of the great examples of human resilience can be found in sport. We take inspiration from the physical and mental strength demonstrated by the players. Build Respect “It’s the journey, not the destination” – a cliché or the truth? Real estate professionals know that the key to repeat/referral business is not just the
result but the relationship you formed with the client. Players and coaches who have had long and successful careers know that winning the respect of your team and the AFL fraternity is critical for long-term success. A coach’s role is also to guide and assist players to win while playing by the rule book.
the field or in business. Inspirational leaders set examples, don’t shy away from difficult decisions and build teams that support each other. The real estate industry is full of examples of exemplary leadership. As an industry traditionally dominated by small to medium businesses, we know first-hand the difference a strong leader can make.
REIV Information Officers, VicForms, legislative updates and training are all services to assist Members run a compliant and successful business.
As your peak body, the REIV’s role is to represent and advocate for your interests, making sure legislation and regulation support a vibrant and progressive industry.
Show leadership Though leadership in sport may look different from leadership in business, the core skills and drivers are the same.
We are excited to work with the AFL Coaches Association and look forward to sharing their learnings and insights with Members.
Leaders develop and nurture the culture of an organisation – whether it’s on
Find out more at reiv.com.au THE ESTATE AGENT – APRIL 2020 | 9
Bulletin
Get involved with the REIV Are you an experienced real estate professional passionate about contributing to the development of the industry? The REIV is always keen to hear from real estate professionals who are passionate about the industry and want to contribute towards continually improving standards of practice. There are a range of avenues to get involved:
• Membership of Chapter and Division Committees • Share your expertise as a panellist/ speaker/ trainer at REIV events and courses • Get involved in Auctioneering competitions as a bidder/judge • Experienced practitioners could be asked to join the REIV Awards judging panel
Please contact us on 9205 6666 or events@reiv.com.au to tell us about yourself and how you would like to be involved.
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The REIV is always keen to hear from real estate professionals who are passionate about the industry and want to contribute towards continually improving standards of practice.
Bulletin Material fact Guidelines
Presidential appointments
Consumer Affairs Victoria released the new Material Fact Guidelines on Sunday, March 1, 2020. Estate agents must now consider these in all sales transactions – commercial and residential.
Applications can be made to the REIV President for the appointment of valuers or real estate agents in a range of circumstances, including family law matters, deceased estates, insurance claims, commercial, industrial and rural disputes and rental determinations.
It is currently impossible to know or anticipate the extent to which a Court is likely to give regard to the Guidelines. This will develop over time once the issue has been tested before a Court. The lack of clarity from Government means that it is essential that all real estate professionals (residential and commercial) familiarise themselves with the new Guidelines. The REIV has been successful in influencing some updates to the earlier draft Guidelines proposed by CAV. A Checklist has also been developed to assist Members in complying with the new Guidelines. Please visit reiv.com.au to access the REIV updates for Members on this matter.
REIV Charitable Foundation – Grants
The REIV President appoints appropriate REIV members in response to applications. Wherever possible, care is taken to ensure the independence of an appointed valuer or agent. The REIV President’s appointment is, generally, free, with the exception of rental determinations. Appointed Valuers and estate agents will charge their standard fee or commission for their services. No appointment is confirmed until the valuer or agent has agreed the scope, terms, fees or commission with the clients. If you or your clients require assistance with any such matter, contact appointments@reiv.com.au
The REIV Charitable Foundation is pleased to advise that a grant of $10,000 has been made to the Foundation for Rural and Regional Renewal (FRRR). The grant will be used specifically for bushfire relief projects in regional and rural communities for the mid to long term recovery effort. This grant will also count towards the combined national effort of the real estate industry, “Beyond the Bricks”. This grant follows a similar such grant made to FRRR in 2019. That money was allocated to Crossenval Community Group Inc. The Group has used that allocation to purchase a trailer which will be used to assist homeless and disadvantaged members of the community. At present the Group uses the trailer to collect food from Foodbank Bendigo and distribute food parcels to a local motel providing emergency accommodation. Distribution of clothing and women’s hygiene packages has been added to the delivery schedule. Once fitted out, the trailer will also be used for food preparation, feeding the homeless in the area. There are plans to hire out the trailer, using the hire fees as a source of income to ensure project longevity. The REIV Charitable Foundation is a registered ACNC body.
LOCAL NEWSPAPERS HELP 3 IN 5 PROPERTY BUYERS FIND THEIR NEW HOME.
Your customers stay local, trust local, buy local. We connect them throughout their buying journey and convert them into your customers.
That’s why Leader works. Contact your News Corp Australia sales representative to get on the same page. Source: Leader Road Map Research (2019), Melbourne residents 18+ who live within a Leader catchment area, Weight: Panel Only. Q: When finding information and offers about buying a property to live in, is your local newspaper... (main source of information, sometimes used, never used)… (n=2,633).
THE ESTATE AGENT – APRIL 2020 | 11
Legislation
Clearing up confusion over retail leases Never in the history of retail tenancy legislation in Victoria has there been so much confusion over what constitutes a retail lease. This article examines the confusion that results from the current definition of ‘retail premises’ in the Retail Leases Act 2003 (Vic). Norman Mermelstein proposes a radical solution to resolve this uncertainty. Snapshot • Regulation should not protect retail tenants alone; protection should also be afforded to wholesale, commercial and industrial business tenancies. • Introducing legislation to govern all non-residential leases makes the debate over what constitutes a retail lease irrelevant. • A business lease, as proposed, will significantly reduce disputes, save costs, provide greater equity and deliver certainty of contract.
Have retail leases reached their use-by date? The author proposes expanding and clarifying the objectives of specialised retail tenancy legislation to apply to all business leases, thus changing the reach and name of the current Retail Leases Act 2003 (Vic) (“Act”).¹
Purpose of retail legislation Retail tenancies legislation was introduced in Victoria in 1986 “to protect small tenants, whom it was thought could not match the bargaining strength of large landlords”. ² The issue of small tenant protection was further considered in the 2001 Review of the Victorian Retail Tenancies
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Legislation: Issues Paper, which noted the argument that all tenants, irrespective of size, wherewithal or character, should be subject to the Act and that this view has the advantage of removing uncertainty. 3 Ultimately, however, the coverage of the Act did not extend to cover all business tenants and small tenant protection prevailed, manifesting in the form of protection for retail tenants – it being considered that retail tenancies legislation should only protect small and mediumsized retail businesses. 4 It was intended that the scope of the Act’s application be limited to small tenants using a retail test as a means of defining size. Section 4(1) of the Act crystallises this intention by defining the Act’s coverage: “In this Act, retail premises means premises, not including any area intended for use as a residence, that under the terms of the lease relating to the premises are used, or are to be used, wholly or predominantly for – (a) the sale or hire of goods by retail, or the retail provision of services;”
Legislation This begs the questions: What is so precious about retail tenancies and why should ‘retail’ be the test that defines the Act’s application? Why should non-retail tenants not receive similar protection? Why restrict the protection to small business and not to business per se? The focus of reform should, as noted in the 2001 Issues Paper, be on business and not on retail. This focus can be seen in the purpose of the Victorian Small Business Commission (“VSBC”) which was established to create a fair and competitive environment for Victorian small businesses to operate, grow and prosper through its four key functions – advocating on behalf of small business, resolving disputes, monitoring the smallbusiness environment and engaging with the small-business community. 5 There is no ‘retail’ test limiting the application of the Small Business Commission Act 2017. In fact, many of the VSBC’s functions have application beyond ‘retail’: In September 2018, the VSBC introduced a two-page Retail Leases Fact Sheet 6 to replace its former Information Brochure. The majority of its contents is applicable to all business tenants, not just retail tenants. In contradiction to its small business focus, the Act has, at its heart in section 4, a retail premises test that has been the subject of repeated litigation and confusion.
Why a retail lease is no longer appropriate The definition contained in section 4(1) of the Act and its application to premises leased for the supply of goods and services, whether wholesale or retail, has been determined differently both within VCAT and by the courts, as well as by legal practitioners. In Global Tiger Logistics Pty Ltd v Chapel Street Trust, 7 Member Roland held that: “Given the ultimate consumer test I find it difficult to conceive of any sale of a service which would be other than retail”. In CB Cold Storage Pty Ltd v IMCC Group (Australia) Pty Ltd,8 Senior Member Walker rejected the submission that the Act applied to virtually any supply of services.
“The definition is not simply the provision of services but rather, the retail provision of services. Parliament has limited the application of the definition by the addition of the word “retail” and the word must have some meaning”. The Act applies where premises are used wholly or predominantly for the sale or hire of goods by retail, or the retail provision of services. It is not clear how the word ‘predominantly’ is measured, whether it has been correctly applied or applied at all in a number of decisions. In 1991, Nathan J in Wellington v Norwich Union Life Insurance Society Limited 9 said: “I call in aid not only common sense but the Macquarie Australian Dictionary which defines retail as being a sale to an ultimate consumer, usually in small quantities.
When the verb is used in the transitive form, it is to sell directly to the consumer”. In 2017, Croft J in CB Cold Storage Pty Ltd v IMCC Group (Australia) Pty Ltd 10 said: “… words such as ‘retail’ have received considerable judicial attention and it is really simplistic and unhelpful now to suggest that the proper interpretation of these critical provisions of the Act is merely a matter of applying dictionary definitions.” 11 This case classified that the provision of services between business providers is retail (subject to those services being within the permitted use of the premises in the lease). It has broadened the application of the Act beyond what many previously thought. CONTINUED ON FOLLOWING PAGE
THE ESTATE AGENT – APRIL 2020 | 13
Legislation CONTINUED FROM PREVIOUS PAGE
The reality is that retail tenancy law in Victoria has reached a degree of sophistication beyond the understanding of most professionals, let alone other stakeholders, to the extent that reform is strongly mooted from both within the legal profession and regulatory bodies. Legislation in other Australian states, including listing particular classes of business as retail, is problematic and not popular in Victoria. The vagary of ministerial decisions as to what constitutes a retail tenancy is not well understood. The Act applies to a premise on any of the first, second or third level of an office complex involved in the retail provision of services or the sale or hire of goods by retail. However, above the third level, the Act applies to the sale or hire of goods by retail, but not the retail provision of services. 12 This has many baffled. The determination of a publicly listed company similarly caused consternation when particular stock exchanges overseas ceased to function, and a new definition was required. 13 The above examples fuel an urgent need for legislative change.
Definition of business lease According to Nathan J, the essential feature of retailing is the provision of an item or service to the ultimate consumer for fee or reward. 14 But business does not encompass retail alone. The fundamentals of leasing involve a covenant between a landlord and a tenant, to receive rent and the payment for outgoings in return for a promise to provide premises that are safe, watertight and well maintained for the term of the lease. Such fundamentals should apply to all business leases.
subsidiary of a listed public company) can negotiate similar protections by way of special conditions in their lease. As large businesses can obtain the majority of the Act’s protections in contract, it seems futile to favour a lease for small business over a lease for all business. The protections that are unavailable include, for example, s87 of the Act (referral to the Victorian Small Business Commissioner), because the lease is not a retail lease and the Act does not apply. Government can always target large businesses with provisions in the Act or by ministerial determinations. The Property Law Act 1958 (“PLA”), Transfer of Land Act 1958, Supreme Court Act 1986 and Australian Consumer Law and Fair Trading Act 2012 are examples of other important legislation that affects the operation of leases in Victoria. Whether these authorities should be merged within a business lease is beyond the scope of this article. Of significance is the fact that these legislations apply equally to all tenants irrespective of their nature (e.g. relief against forfeiture provisions in the PLA).
Advantages of a generic business lease The terms and conditions of a business lease cover both retail tenancies as well as non-retail non-residential use. The VCAT case of William Buck (Vic) Pty Ltd v Motta Holdings Pty Ltd (2018) 15 decided that a lease that is subject to the Act can subsequently fall outside the definition of retail premises during the term of the lease. This can happen when, for example, gross operating expenditure exceeds $1,000,000 (exclusive of GST). 16 In such a situation, the parties to a standalone retail lease would be stranded, whereas a business lease need not be changed.
By changing the regulation of retail leasing to include all business leasing, the ‘ultimate consumer’ test loses relevance.
Premises cannot become retail if they are not retail premises when the lease is entered into or renewed, but the reverse can apply (s11(2)). For example, a company becomes a listed public company.
It is often said that large business does not require the protections afforded by the Act. In the author’s experience, a tenant not protected by the Act (for example, a listed public company or a
A landlord may avoid the provisions of the Act by requiring the permitted use to be “any use permitted in Victoria, but not the sale or hire of goods by retail or the retail provision of services.” A tenant
14 | THE ESTATE AGENT – APRIL 2020
that rents a warehouse may believe that its use is not retail. Any finding of retail use would render the tenant in breach of this agreement. This manipulation cannot occur under a business lease. A problem with current leases where the Act applies is that both tenants and landlords do not fully understand the terms and conditions of their lease, especially when a provision is said to apply ‘unless the Act applies’. Parties cannot be expected to be conversant with the Act, yet they deserve to be able to have a reasonable understanding of their contract. The lack of understanding also applies to real estate agents and solicitors that are not specialist practitioners in retail tenancy law. A business lease will address these issues. Legislation that applies universally avoids having to determine whether the Act applies to a particular lease, let alone the significant cost factors in litigating a dispute. The adoption of a regulated lease under universal legislation for all non-residential tenancies would minimise disputes over definitions. 17 Any consideration of the competing interests of landlords and tenants must acknowledge that the majority of landlords are also small business owners.
Further attributes of a business lease Current legislation provides circumstances where the Act does not apply. A business lease may adopt similar provisions, for example, where operating expenses exceed $1 million (ex-GST), 18 outgoings under the lease includes land tax. A business lease need not impose any new conditions on shopping centre leases. Landlord and tenant obligations require certainty. For example, a lease (or legislation) should require that the landlord’s obligation to maintain premises in the same condition as at the commencement of the lease, includes changing washers in taps and toilet cisterns, and repairing faults in equipment such as the electrical supply. A tenant’s obligations may include changing
Legislation light bulbs, fluorescent tubes and regular clearing of gutters. The list need not be exhaustive but should include items that are always mentioned in dispute resolution cases. Such a list can be sourced from practitioners and organisations such as the VSBC. Further contribution will be received if Government seeks public opinion via a Regulatory Impact Statement. Legislation should remove the uncertainty of whether a landlord can escape the obligation to pay for essential safety measures items required under the Building Act 1993 (Vic). Make good provisions in a lease need not be legislated, but legislation should require a disclosure statement that advises the terms of such provisions and that such terms are negotiable. Giving VCAT exclusive jurisdiction over all leasing disputes eliminates jurisdictional issues. 19
Conclusion There exists a balance of convenience between those, mainly landlords, that agitate for deregulation and the freedom to contract, (mainly on their terms), and legislation that protects the interests of tenants regardless of the nature of their business. The emergence of an amended and renamed Act from the chrysalis of the
2003 iteration would achieve business protection by removing the unintended confusion that resulted from ‘retail’ supplanting a definition of ‘small business’. An extended Act would better achieve its intention, which is stated as being to ‘enhance the certainty and fairness of … leasing …’ (s1). In contradiction to its intention, the Act has at its heart in section 4, a retail premises test that has been the subject of repeated litigation and confusion. Removing this confusion would provide the conditions for certainty to flourish: A new standard business lease for all non-residential tenancies could then be designed to minimise any adverse impact on current wholesale, commercial and industrial operations and concurrently advance existing retail tenancies.
Norman Mermelstein is the principal of Law Ink Pty Ltd, a member of the Property and Environmental Law Section Leases Committee and Property Law Committee, Succession Law Committee member, accredited mediator, REIV-accredited Owners Corporations Specialist and a licensed estate agent.
Acknowledgement The author expresses gratitude to Mark Schramm for his skilful understanding of the small business environment and his valued advice on a number of issues discussed during the preparation of this article. Mark is a Solicitor and Senior Manager, Dispute Resolution at the Victorian Small Business Commission, and a member of the Property and Environmental Law Section Leases Committee. This article was originally published in the Law Institute Journal September 2019.
ENDNOTES 1. All sections refer to the Act. 2. Nathan J in Wellington v Norwich Union Life Insurance Society Ltd [1991] VR 27; [1991] 1 VR 333 (25 July 1990). 3. The Review of Victorian Retail Tenancies Legislation: Issues Paper January 2001 Department of State and Regional Development at p.18 4. Retail Tenancies Legislation Discussion Paper October 2001 at p.21 5. Victorian Small Business Commission website. 6. Retail Leases – Important Facts For Tenants, Victorian Small Business Commission September 2018. 7. Global Tiger Logistics Pty Ltd v Chapel Street Trust (unreported, VCAT, Member L Rowland, 8 November 2012), at [17].
8. CB Cold Storage Pty Ltd v IMCC Group (Australia) Pty Ltd (Building and Property) [2016] VCAT 1866, at [66]. 9. Wellington v Norwich Union Life Insurance Society Ltd [1991] Vic Rp 27. 10. CB Cold Storage Pty Ltd v IMCC Group (Australia) Pty Ltd [2017] VSC 23 (7 February 2017), at [22]. 11. Croft J set aside the decision of VCAT; the decision was upheld by the Court of Appeal. Leave to appeal to the High Court was refused. 12. Ministerial determination dated 30 April 2003, Victoria Government Gazette. 13. Ministerial determination dated 18 August 2016, Victoria Government Gazette. 14. Note 2 above.
15. William Buck (Vic) Pty Ltd v Motta Holdings Pty Ltd (Building and Property) [2018] VCAT 15 (16 January 2018). 16. Retail Leases Regulations 2013, Section 6: Excluded retail premises. 17. The VSBC website lists 34 relevant VCAT and Court decisions including appeal hearings. The issue in 17 of those cases (50%) depends on whether the Act applies. If the Act applied to small-business leases as proposed, these cases would not have arisen and signifies the waste of resources. 18. Note 16 above. 19. Section 29 of the VCAT Act 1998 permits written authority to be given to judges of the Supreme Court and County Court to hear a matter for which VCAT has jurisdiction. THE ESTATE AGENT – APRIL 2020 | 15
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Legislation
Selling and buying agents cannot ignore changes to the Residential Tenancies Act Many of the changes come into effect on 1 July, 2020. This article refers to only some of the changes that are also relevant to agents acting for sellers or buyers. RIGHTS OF ENTRY The right of entry provisions in the Act have significantly expanded to include purposes previously overlooked, such as sales photography and open for inspections. Some of this will come at a cost to the landlord, and agents will have to abide by a more complicated array of notice periods. An agent can enter a rented property if the tenant has agreed within the preceding seven days. If the tenant does not agree, entry can be possible provided the Act is adhered to.
each sales inspection. The amount will be prescribed in the Residential Tenancy Regulations. An exception to the right to conduct an open for inspection is that a protected person, for example under a family violence intervention order, residing in the premises may require that inspections be by appointment. MINIMUM STANDARDS Minimum standards for rental properties to be prescribed in the Residential
Tenancy Regulations will be phased in and will apply when a new rental agreement begins. A buyer’s agent will need to take the standards into account when acting for an investor, as some properties may require substantial upgrades before they can be let. Agents may need to be cautious if they suggest a property with development potential can be let while planning permission is sought, as upgrades required may make letting financially unviable. Minimum standards that have not been met will have the status of an urgent repair. THREATS AND INTIMIDATION If any occupant of the rented property seriously threatens or intimidates the landlord or the agent, or any of their contractors or employees, a 14-day notice to vacate can be issued. However, the notice cannot be in response to the tenant exercising or proposing to exercise a right under the Act. The REIV is running several sessions on RTA changes. It is important that all agents – not just Property Managers – familiarise themselves with the new regulations. Refer to reiv.com.au for ongoing updates.
The reasons for entry have been expanded to include open for inspections and the production of advertising images. If a right of entry is exercised for sales inspections the tenant must have been given The tenant must be notice at least 14 days paid compensation beforehand of the owner’s intention to for each sales sell, and a 48-hour inspection. The notice must be given amount will be prior to each inspection. prescribed in The right of entry may not be exercised more the Residential than twice a week, Tenancy unless the tenant Regulations. agrees otherwise. The tenant must be paid compensation for THE ESTATE AGENT – APRIL 2020 | 17
Best Practice
What are we talking about?
Jim Lourandos & David Dundas REIV Information Officers
REIV Information Officers David Dundas and Jim Lourandos address some of the current common questions from Members. Is part-time commission-only employment permitted? The answer is concisely stated in the Real Estate Industry Award 2020: “16.7(a)(ii) An employee paid on a commission-only basis must not be engaged as a part-time or casual employee.” A licensed agent engaged as a contractor is not an employee, so is not affected. In fact, a contractor should not be providing fulltime services to one agency, as the ATO might deem the arrangement to be sham contracting.
Cyber theft Hacking of emails has had serious consequences for some agents, resulting in them incorrectly transferring money from their trust account. In simple terms,
an email from a client or their legal representative giving details of the account into which payment is to be made is intercepted and an email, apparently from the client, is sent directing that payment be made to a different account. A simple precaution is for the agent to seek confirmation of the account number by telephone. A similar technique has been used to harvest money coming from buyers. In this scenario the agent sends an email to a buyer giving trust account details so a deposit can be paid. The email is intercepted, and the buyer is sent a new email, apparently from the agent, with a different account number but the same account name for payment. The buyer pays the deposit, but it never reaches the agent’s trust account.
It seems that banks don’t bother matching account numbers against account names, their systems simply accept whatever account number is provided, irrespective of the account name. In view of this deficiency in the service provided by banks and the skill of hackers, it is left to agents to adapt their procedures. Agents should: • Avoid providing trust account details by email to anybody paying money into the trust account, • Avoid providing general account details by email to anybody paying money into the general account, • Provide account details in hard copy or by telephone, and include a warning that should any account numbers be received by email they should be verified by telephone or in person at
Hacking of emails has had serious consequences for some agents, resulting in them incorrectly transferring money from their trust account. 18 | THE ESTATE AGENT – APRIL 2020
Best Practice the agency before any payment is made, and • Engage a competent IT contractor to ensure protections within the IT system remain up to date.
Webinars on preventing cyber theft to be available soon on reiv.com.au
File handover to a new managing agent The handover of property management files often causes conflict between agents, as while the loss of some managements can be a welcome relief, in other cases it seems like a personal insult. Additionally, the landlord often hasn’t had the courtesy to say they are moving to another agency. Feelings need to be put aside; communication between agencies and with the landlord should be courteous and professional. In an agent-client relationship, the file belongs to the client, so placing anything on the file should be done bearing in mind the client could see it – for instance, if they took over the management themselves. The entire file
excluding the authority should be transferred to the new agent, but the old agent should retain copies of documents to satisfy section 98 of the Estate Agents Act.
The new agency should not assume that all authorities contain the same terms. Authorities need to comply with the Estate Agent Act, but this doesn’t prevent them having provisions which may prevent the immediate transfer of the file from one agent to another. Some examples include: • The authority may contain an exclusive period for management which may not have ended, and which may only be ended early by mutual agreement between the client and agent. • The authority may specify that in the
case of a change of management the client must give a period of notice. • If the client owes money to the agent, the authority may allow the agent to maintain a lien over the client’s documents and chattels until the agent is paid in full. Some agents demand to see the new agent’s authority. There is no need for this as they could contact the client to confirm that a new agent has been appointed. Agents holding security deposits on commercial/retail properties should ensure they are also transferred, and the new agent should provide acknowledgement of receiving it. A former member thought a good idea was to tape the file to a power pole in front of the new agency. He was wrong.
Please note: This is general information and should not be treated as a substitute for reading legislation, regulations and official guidelines, or for seeking legal advice where necessary.
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THE ESTATE AGENT – APRIL 2020 | 19
Training
An update on property services qualifications New training package is on its way for Estate Agents and Agents’ Representatives
The existing Property Services Training Package for Agents’ Representatives and Estate Agents was reviewed nationally, and the new training package was endorsed in March last year.
2008 (the Regulations). The new training package will represent a significant departure from the existing units of competency, and therefore we will need to undertake significant work to determine which new units should be prescribed to attain the same level of competency, or more, to be an Agents’ Representative or Estate Agent in Victoria. This work should have already been completed.
As the Victorian industry regulator for real estate, Consumer Affairs Victoria prescribes units of competency from the existing training package under the Estate Agents (Education) Regulations
To be very clear, CAV did not support the new training package and the raising of professional standards for some time, until the REIV successfully applied pressure through the office of the Skills
I am pleased to advise that the Victorian Government is working on the implementation in Victoria of a new national Property Services Training Package.
20 | THE ESTATE AGENT – APRIL 2020
Commissioner and the Minister for Training and Skills. As Victoria was very slow to support the new training package until REIV’s intervention, there is now an extension in place for the existing training package from the Australian Skills Quality Authority. This delay should never have happened. The Department of Justice and Community Safety is currently working on a new version of the Regulations to prescribe units of competency from the new training package. The new training package is significantly different to its predecessor and as such there will be a Regulatory Impact Statement required to ensure the implications of the new package are fully known before the new regulations are made. REIV will be invited to participate in a public consultation on the proposed new Regulations in the first half of 2020. We will keep you informed when this consultation commences. Gil King CEO, REIV
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THE ESTATE AGENT – APRIL 2020 21
Training
Family violence – obligations of a real estate agent Family violence is any behaviour that in any way controls or dominates a family member and causes them to feel fear for their own safety and wellbeing, or that of their family members. It can include physical, sexual, psychological, emotional and economic abuse and any behaviour that causes a child to hear, witness or otherwise be exposed to the effects of that behaviour. Family Violence Protection Act, 2008 (Victoria) amended 1 May 2016 Real estate agents regularly deal with tenants/owners and need to be prepared to respond to a range of sensitive or highly charged issues that can come up in the workplace, particularly family violence. You may also be approached by a colleague impacted by family violence. Key aspects of effective property management include conflict resolution and legislative compliance. Agents need to be equipped to provide advice on complex and sensitive issues such as family violence issues impacting tenancies when required. Property Managers may at times have to work with family violence intervention orders and other provisions under the Residential Tenancies Act. It is important for Agents to understand the limitations as well as their obligations. The first key step in dealing with family violence is recognising the signs that could help you identify family violence occurring within a tenancy.
22 | THE ESTATE AGENT – APRIL 2020
Warning signs can include: Someone you know or work with might disclose family violence, but more often than not the signs will be subtle. It might be something you notice about a tenant, colleague or family member, such as:
The REIV and Uniting Kildonan have together developed a half-day training course to provide you the tools and skills required to effectively engage with colleagues, owners or tenants on the issue of Family Violence.
Leading conversations • Has injuries such as on challenging and bruising. The first key step sensitive issues requires • Appears afraid considerable skill, or anxious about in dealing with dexterity and emotional upsetting someone family violence is intelligence. The close to them. recognising the course will include a • Talks about feeling signs that could conversational framework watched, monitored or to assist in responding stalked, or you observe help you identify appropriately when this happening. family violence someone alludes to or • Stops seeing friends occurring within discusses family violence. and family or discloses a tenancy. that they’re not We encourage all allowed to. Members, especially those • Describes their partner in Property Management, as controlling e.g. they to undertake this training. have to justify their expenses, or continually • Learn how to identify and respond to receives calls, emails or texts checking up on them. family violence; • Frequently apologises for trivial • Learn how to approach and assist mistakes. others to access relevant support; • Has insufficient money for their • Learn where to go for support and basic needs. information about family violence in the real estate industry in Victoria; The REIV has been working closely • Deliver on your obligations under such with Authorities to equip you with circumstances. information and resources to assist you fulfil your obligations as a real estate professional and more importantly as a responsible member of the community.
FAMILY, DOMES TIC AND SE XUAL V IOLENCE IN AUS TR ALIA (AIHW)
2019
Impacts of family, domestic and sexual violence IPV Impact
Homelessness IN 2017-2018, ABOUT
41,600
Hospitalisation I N 2 016 - 2 017, O N AV E R AG E
12 WOMEN A DAY
Intimate partner violence is a
72,500
MAJOR HEALTH RISK FACTOR
WOMEN
CHIL DR EN
6,900
!
MEN
sought specialist
due to domestic and family violence
1 IN 14 WOMEN hospitalised for physical assault
Illicit drug use
LE A DIN G R ISK FAC TO RS FO R WO M EN AGED 25 – 4 4
HOMELESSNESS SERVICES
WERE HOSPITALISED FOR ASSAULT INJURIES
Child abuse and neglect during childhood
PARTNER VIOLENCE
BY A SP O USE O R D O M E S T I C PA R T N ER
were pregnant
for women aged 25–44.
due to family or domestic violence. (AIHW, 2019a)
(AIHW, 2019b)
(AIHW, 2019b)
Children’s experience of abuse
Domestic homicide 1 WOMAN WAS KILLED EVERY 9 DAYS by a current or former partner
in the 2 years from 2014-15 and 2015-16.
1 IN 6 WOMEN
ONE-QUARTER OF HOMICIDE INCIDENTS
were physically and/ or sexually abused before the age of 15
(ABS, 2017 in AIHW, 2019b)
Women who, as
children, witnessed partner violence against their parent
are due to a
WERE MORE THAN TWICE AS LIKELY TO BE
subjected to partner violence themselves, compared to women who had not.
current or former partner. (National Homicide Monitoring Program in AIHW, 2019b)
!
(AIHW, 2019b)
!!!
(National Homicide Monitoring Program in AIHW, 2018)
(ABS, 2017 in AIHW, 2018)
Experience & risk
Certain groups of people are more vulnerable to family, domestic and sexual violence, particularly:
CH I L D R EN
YO U N G WO M EN
PEO PL E FRO M C A L D BACKGRO U N DS
LG BT I Q+ PEO PL E
1 IN 9 MEN
!!! O L D ER AUS T R A L I A N S
PEO PL E I N RU R A L A N D R EM OT E AUS T R A L I A
Violence against women by a partner often
PEO PL E W I T H D I SA BI L I T I E S
SO CI O ECO N O M I C A L LY D I SA DVA N TAG ED PEO PL E
BEGINS OR INCREASES DURING PERIODS OF SEPARATION. (Bruton & Tyson, 2018, & ABS 2017 in AIHW, 2019b)
REFERENCES: Australian Institute of Health and Welfare. (2019a). Specialist homelessness services annual report 2017–18. Canberra: AIHW. Australian Institute of Health and Welfare. (2019b). Family, domestic and sexual violence in Australia: continuing the national story 2019. Canberra: AIHW.
ANROWS.ORG.AU enquiries@anrows.org.au
Australian Institute of Health and Welfare. (2018). Family, domestic and sexual violence in Australia 2018. Canberra: AIHW. SUGGESTED CITATION: Australia’s National Research Organisation for Women’s Safety. (2019). Impacts of family domestic and sexual violence (2nd ed.). Sydney, NSW: ANROWS.
THE ESTATE AGENT – APRIL 2020 23
Events
Awards & Competitions The REIV annual auctioneering competitions continue to evolve, challenging auctioneers to reinvent themselves and excel in their field.
The competitions cater for all levels of expertise and experience and are open to auctioneers across all residential, industrial and commercial real estate sectors. Senior Auctioneering Competition: The 2020 REIV competition is scheduled for late July. This is to give auctioneers the time to gain competition experience at their local/office level events before the state competition. All competitors will auction the same property at Heats level, unlike previous years where they could choose the property to auction. This will make the Heats level consistent with the format for
AUSTRALASIAN AUCTIONEERING CHAMPIONSHIPS After a successful 2019 Championships in Melbourne, the 2020 Competition is currently scheduled for 18-20 October in Sydney. We expect the schedule will be changed due to the coronavirus crisis. Please refer to reiv.com.au for updates.
the Finals and help maintain consistency at all levels of the competition. A property information pack will be provided to all competitors after entries have closed. The pack will include a property brochure, photographs, contract of sale and vendor statement. Novice Auctioneering Competition: The criteria for competing in the REIV Novice competition has been expanded. New Auctioneers who have called public auctions may also enter the competition provided: • They have called public auctions for not more than 12 months and • Called a maximum of 20 public auctions.
Auctioneering competition dates Entries close
Heats
Semi*
Final
Senior Auctioneering Competition
Friday, 3 July
Tuesday, 28 July
N/A
Wednesday, 29 July
Novice Auctioneering Competition
Friday, 24 July
Tuesday, 18 August
Tuesday, 25 August
Tuesday, 1 September
* If the REIV deems that a semi-final is not required, the final will be moved forward a week. Visit reiv.com.au/events/auction-competitions for all updates and information regarding the 2020 competitions.
REIV Awards dates
24 | THE ESTATE AGENT – APRIL 2020
Awards for Excellence
Commercial & Industrial Marketing Awards
Award categories & eligibility criteria available
1 June 2020
1 June 2020
Entries open
29 June 2020
29 June 2020
Entries close
7 August 2020
7 August 2020
Finalists announced
21 September 2020
2 September 2020
Winners presented
22 October 2020
17 September 2020
Best Practice Events
Upcoming Events – April to August April 22
REIV Connect – Traralgon
28
REIV Connect – Mornington
May 6
Inside Property Management – Pools and Spa Barriers
12
REIV Connect – Wangaratta
20
Networking for Business Outcomes (free for Members)
June 3 11 29
Inside Property Management – Meth testing Commercial & Industrial Property Management Breakfast Entries Open - Awards for Excellence and Commercial & Industrial Marketing Awards
July 1 3
August Inside Property Management – RTA Changes (live stream available) Senior Auctioneering Competition Entries Close
15
The Buyer – The focus of your campaign
22
Cyber Security
24 28 29
Special events with AFL Coaches to be announced. Updates on reiv.com.au
Novice Auctioneering Competition Entries Close Senior Auctioneering Competition – Heats Senior Auctioneering Competition – Final
Dates correct at time of publishing. Please refer to reiv.com.au for the latest updates
5
Inside Property Management – Topic to be confirmed
7
Economic Forecast Luncheon
7 18
Entries Close – Awards for Excellence and Commercial & Industrial Marketing Awards Novice Auctioneering Competition – Heats
21
Future Leaders Forum
25
Novice Auctioneering Competition – Semi Final
Events will be held as Webinars while restrictions on gatherings are in place. Please refer to reiv.com.au for details or contact us on events@reiv.com.au
Thank you to all our Partners for their continued support
Home THE ESTATE AGENT – APRIL 2020 | 25
Data insights
What a difference a decade makes: Looking back at the trends of the 2010s New Year’s Day this year had special significance as we farewelled the end of a decade and stepped into the 2020s. A great deal has happened over the past 10 years. We have seen Facebook and Twitter sweep their way across the globe, Australia voted ‘yes’ to marriage equality, Osama Bin Laden was killed, Donald Trump became US President, ISIS reared its ugly head, and Australia has had six prime minister changes in that time. The Victorian property market too has come a long way over the past decade.
Median Prices Median houses values have demonstrated incredible growth across the state over the past decade. Houses in metro Melbourne saw 77 per cent growth over 10 years while Units grew by 52.5 per cent. Regional Houses also performed well with growth of 49.8 per cent, followed by regional Units with 28.3 per cent growth over 10 years.
MEDIAN PRICE Median Price
2009
2019
House
Unit
House
Unit
House
Unit
METRO
$466,000
$400,000
$825,000
$610,000
77.0%
52.5%
Inner
$795,000
$450,000
$1,420,000
$606,000
78.6%
34.7%
Middle
$528,050
$420,000
$955,000
$680,000
80.9%
61.9%
Outer
$380,000
$313,500
$651,000
$515,000
71.3%
64.3%
REGIONAL
$275,000
$230,000
$412,000
$295,000
49.8%
28.3%
These figures reflect the strength of the Victorian property market. Investors are seeing stable long-term results.
LAND SIZE Building Area
2009
2019
10 Year Difference
House
Unit
House
Unit
House
Unit
METRO
630
283
619
250
-1.7%
-11.7%
Inner
413
243
427
240
3.4%
-1.2%
Middle
625
295
638
265
2.2%
-10.3%
Outer
673
289
650
238
-3.4%
-17.5%
REGIONAL
737
308
728
286
-1.2%
-7.1%
LAND VALUE Price per sqm
2009
2019
10 Year Difference
House
Unit
House
Unit
House
Unit
METRO
$731
$1,570
$1,339
$2,930
83.3%
86.6%
Inner
$2,187
$2,862
$3,777
$4,473
72.7%
56.3%
Middle
$839
$1,698
$1,527
$3,246
82.0%
91.2%
Outer
$547
$1,140
$1,048
$2,337
91.5%
105.0%
REGIONAL
$352
$809
$519
$1,175
47.7%
45.2%
Houses in Middle Melbourne (10km20km from the CBD) led the charge over the other regions, growing by 80.9 per cent.
double the median in Outer Melbourne.
Houses in Inner Melbourne performed extremely well too, with a 78.6 per cent increase over 10 years, sitting at a remarkable $1,420,000 at the end of 2019, which is more than
Units in Middle and Outer Melbourne had the biggest increase in their annual median prices with 61.9 per cent and 64.3 per cent respectively as inner apartments were more established.
26 | THE ESTATE AGENT – APRIL 2020
10 Year Difference
Land Size As our housing market grows, let’s look at how property sizes have changed over time. Overall, property sizes in Metro Melbourne have reduced slightly with
Data Best Practice insights
average house size reducing by 1.7 per cent and the size of units reducing more significantly by 11.7 per cent. However, houses in Inner and Middle Melbourne saw slight increase – 3.4 per cent and 2.2 per cent, respectively. Unit/apartment sizes fell over time with Outer Melbourne recording the biggest decrease of 17.5 per cent over 10 years. Houses in outer Melbourne have also decreased in size by 3.4 per cent, most likely due to urban sprawl.
Land Value With property values going up over that time, buyers are paying more for less. The median price per square metre for a house in Melbourne metro was $731 in 2009, increasing to $1339 in 2019, an increase of over 83.3 per cent. Units in metro Melbourne have performed even better, going from $1570 per square metre in 2009 to $2930 in 2019, a jump of 86.6 per cent. Once again outer suburbs saw the highest increase on both houses (91.5 per cent) and units (105 per cent).
Selling Method While private sales remain dominant, the combative nature of multiple prospective home buyers going to head to head in a compelling bidding war with their dream property on the line continues to fascinate more and more people. The proportion of properties being sold via auction has grown significantly over the past six years, reaching the highest level of 22.3 per cent in 2017. About 265,000 homes were sold under the hammer between 2009 and 2019, averaging 17.4 per cent of all property transactions in Victoria. About 95 per cent of all auction sales in Victoria happen in metro Melbourne. However, there is a visible trend within metro Melbourne.
Middle Melbourne has made a significant shift to auctions with almost 40 per cent of sales being made via auction in 2019, up from just 24 per cent in 2009.
About 265,000 homes were sold under the hammer between 2009 and 2019, averaging 17.4 per cent of all property transactions in Victoria.
Outer Melbourne is not far behind, growing from 4.3 per cent in 2009 to 11.6 per cent in 2019. 2017 recorded the peak at 17.4 per cent of sales via auction. Auction is often preferred for more expensive properties, as we can see with the higher proportion of auction sales in the inner and middle ring which includes some of the high-value suburbs.
For more analysis and insights, visit reiv.com.au/research
AUCTION VS PRIVATE SALES - VICTORIA
Auction
Private
100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% 2009
2010
2011
2012
2013
2014
AUCTION SALES - METRO MELBOURNE
2015
2016
Inner
2017
2018
Middle
2019
Outer
45.0% 40.0% 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% 2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
THE ESTATE AGENT – APRIL 2020 | 27
Data insights Section head
Get your Saturday afternoons back PropertyData can save agents time and enhance their brand with vital communication tools Saturdays are an extremely busy day for most selling agents. After a day of sales negotiations, reporting the results to data teams is an additional task set aside for the afternoons. With REIV Saturday sales results being one of the most searched statistics in Victorian real estate, delayed reporting is also not an option as you risk missing out on new opportunities. REIV sales results are shared widely; almost 18,000 direct emails every Saturday, more than 35,000 followers on social media (further amplified by sharing), the REIV Choose a Member portal, one of the most searched auction results on Google, over 100,000 website
visits every month. REIV data is also used by media and government for commentary and decision making. PropertyData has the capability to access direct feeds from more than ten (10) CRMs; this means your listings and results can be automatically uploaded – giving you back your Saturday evenings and helping you stand out on several platforms. The PropertyData team works directly with the provider, making it a simple and seamless process for you. In addition, PropertyData subscribers can now use the most credible and trusted data insights to drive their own brand digital strategy. With API feeds now available for you to showcase the market results on your website, you can drive traffic to your site. You can bolster that further with an exciting new feature that automatically
builds animated videos – with your branding. Share these customised videos to make your social media channels more engaging and build a stronger public profile. There is a lot of discussion on the merits of “content marketing” through social media. This PropertyData initiative makes it easier for subscribers to put content marketing into action. A partnership with Epik, a video automation platform, allows us to combine suburb data with listing information, helping agencies become more visible on social media, Google search and portals without having to incur the steep costs associated with video production. The breadth, accuracy and reliability of the data will help you deliver best-inclass engaging visuals that empowers your brand with the most effective form of online communication available today – video. Please contact us to know more about how automated videos can enhance your agency profile and brand. Email support@propertydata.com.au or call 03 9205 6656 THE ESTATE AGENT – APRIL 2020 29
REIV Constitution
The next steps for the REIV Constitution The REIV Board would like to thank all Members who participated in the recent General Meeting to vote on the proposed constitution
30 | THE ESTATE AGENT – APRIL 2020
While the proposal was not carried due to a shortfall of 0.413%, the Board is very encouraged by the strength and breadth of the support from across the REIV membership not only for the proposals, but also their intent – to ensure the REIV’s ongoing relevance to current and future generations in a constantly changing environment. Making any changes to the Constitution is difficult, requiring a 75% majority of votes cast. The REIV Board, elected by Members to lead the Institute and always obliged to act in the best interests of the Institute, firmly believes that change is necessary. On 4 March, 690 REIV members actively
agreed with the Board and their votes accounted for 74.586% of total votes cast. However, the changes proposed by the Board could not be adopted as the For votes were 0.413% short of the required 75%. It would come as no surprise that voting at most membership bodies like associations, institutes, charities and unlisted and listed companies is typically quite low. Most people become members or shareholders of an organisation for the services, opportunities and benefits offered. We often take day to day corporate governance requirements of
REIV Constitution
the organisation as a given and assume that matters requiring member input will be addressed by individuals who have the time and interest to do what needs to be done. In this context, it is very encouraging to see the level of Member engagement on the issue of REIV Constitution changes. 271 members participated (50 in person and 221 by proxy) in the 2019 AGM, and the General Meeting in March 2020 attracted 864 members (69 in person and 795 by proxy), not including some proxy appointments that were invalid. In comparison, during the period 2014 to 2018, each Annual General Meeting attracted on average 43 members. Even in 2015, when changes to the Constitution were adopted to allow for elections to be held by electronic means, attendance at the AGM in person and by proxy amounted to only 35 people. The REIV Board of Directors believes the changes proposed Regional Zones to serve on the would have corrected existing Board; succession planning for inconsistencies and errors, modernised Office Bearers and the facility to the Constitution and delivered a simpler manage the decision-making process membership structure with all members electronically. The principles presented having voting rights (instead of just as reasons to not adopt the proposed short of 48%). The proposed Constitution Constitution included: change is not also provided greater opportunity for necessary; opening membership to membership growth strengthening the the wider real estate REIV’s position as the sector would lower peak body for real estate the professional standing in Victoria. A number of Considering the of the REIV; and, only updates were proposed overwhelming Licensed Agents are regarding the structure support for most fit to hold Board of the REIV Board: a positions. relatively smaller Board of the changes with more regular proposed, the Board The REIV Board believes opportunity for refresh, is considering steps that their proposals for more onerous controls to progress their change are right, proper over Board operations; and necessary. a slight reduction in the vision for the peak maximum continuous representative body. Considering the period a Director could overwhelming support serve on the Board; for most of the changes potential for more proposed, the Board is members working in
considering steps to progress their vision for the peak representative body, within the parameters of the current Constitution. There are several important matters that can only be updated through a formal adoption of constitutional change by Members. For example, Director eligibility and terms of office, Office Bearer succession planning, the facility for matters put to Members to be decided by direct vote and achieving voting equality for all members. At this stage, these matters will be put on hold. Meanwhile, the REIV Board and Management continue to focus on building a strong and sustainable peak body for real estate in Victoria. Your Institute, Your Representative, Your Opportunity.
THE ESTATE AGENT – APRIL 2020 | 31
Members
Building towards something special Some of the brightest young stars in the industry were recognised at the 2019 REIV Awards for Excellence
After I got past the initial facade of expensive suits and cars, I discovered an industry with incredible depth and rewards that requires unfathomable hard work and discipline.
Every year, thousands of new agents join the real estate sector. Each person brings their personality, enthusiasm and unique approach to the business, but what makes some stand out over others? Is there a common theme, a winning formula? We spoke to the 2019 finalists for the Outstanding New Agent of the Year. Read their feedback below, do you see something similar in their responses? It’s the people, the mentors and the supporters.
Alec Stefanoski Winner, Outstanding New Agent of the Year, 2019 REIV Awards for Excellence
I am embarrassed to admit that what initially attracted me to real estate was the glamorous lifestyle with which the profession appeared to go hand in hand. How wrong I was! After I got past the initial facade of expensive suits and cars, I discovered an industry with incredible depth and rewards that requires unfathomable hard work and discipline. Above all, what truly made me fall in love with real estate was the personal sense of freedom and autonomy. In no other industry do you have the opportunity as an employee to have creative freedom in how you run your day, in how little or how hard you work and therefore have total control over your earning capacity. From the first week I entered the industry at 19, my career goal was to be a director by the age of 30. Now at the age of 26, this is a goal that I am still driven and laser-focused to achieve as my sense of
32 | THE ESTATE AGENT – APRIL 2020
fulfillment would be to help drive and expand a successful business for many decades to come. As an unsettled young agent who worked at several agencies at the beginning of my career, I am eternally grateful to Woodards Manningham directors Stasi Adgemis, Lee Salce and Ken Chapel for giving me an opportunity when it would have been easy to see me as ‘high risk’. They have been the best mentors an agent could ask for and I look forward to continuing to learn from them in the future. The REIV gave me an outstanding knowledge base and all the tools needed to start a successful real estate career from scratch. Their continued support, training and industry updates are invaluable. My best advice for anyone entering real estate is to outwork your competition. While it may be cliché, you need to be the first in the office and the last to leave every single day. To put it simply, work hard to build your database as quickly as possible to the highest level you can maintain and then stay disciplined.
Members psychology. And it is more than a job – it is a lifestyle. I value the ability to change people’s lives with every transaction. I enjoy working with clients of diverse ages and vocations. No two clients are the same. It keeps you on your toes and requires an adaptive and creative mind.
Jordyn Kruger Finalist, Outstanding New Agent of the Year, 2019 REIV Awards for Excellence
My passion is people. I never imagined a career in property would be so rewarding, but now, after two years in the industry, I know it’s more than an intimate knowledge of beautiful properties and closing deals – it has people at its heart. Furthermore, a career in real estate teaches problem solving, customer care, and
My specialty at the moment is first-home buyers. Being young myself I connect with their concerns and feelings about buying their first home. I am fortunate to work for a family company which has given me an incredible start. I wouldn’t be where I am today without them. We work every property together and do not engage in office politics. I am currently doing my full license with the REIV. My advice to others: Put people first. This is the biggest transaction in their lives. Respect that. You will also need to dedicate long hours to get the job done, but if you treat it as a lifestyle you will never work a day in your life.
Owners Corporation – How do we fit in? The Owners Corporation (OC) sector this together. There is a strong desire is flying. Nationally, the OC sector to work with government to increase represents more than 2.6 million lots, the professional standards of OC worth more over $1 trillion in property managers across the state and when OC value, and employs more than 10,000 Managers and businesses stand handmanagers and in-hand with the REIV administration staff. this creates enormous The Victorian OC Established strata benefits and unity companies are seeing for the whole sector. I sector represents net profit margins in am a licensed estate in excess of excess of 30 per cent. agent and understand $270 billion in Yet, the sector still the value of this, and property value, referred to as the ugly what it represents duckling of real estate. to the market. I look made up of more forward to continuing to than 775,000 lots. educate aspiring new OC How do we change professionals through the this? Awareness and REIV training program acceptance and working with Gil King and all REIV members to The Victorian OC sector assist on all OC matters. represents in excess of $270 billion in property value, made up of more than 775,000 lots. What is salient about Adam Mikkelsen the above numbers, is that it affects Director – Strata Equity Management all sectors of real estate, in that you Chair, REIV OC Chapter Committee need a sales agent to sell a property, a REIV Owners Corporation Trainer property manager to manage a tenant, and an OC manager to maintain the Data obtained from the UNSW National Strata Data 2018 & 2019 Macquarie Strata common property. We need to embrace Management Benchmarking Report and accept the reality that we are all in
Stephanie Harding Finalist, Outstanding New Agent of the Year, 2019 REIV Awards for Excellence
I have always had an interest in real estate as my mother is a residential agent. After studying a marketing/comms bachelor degree at university and working in PR, I saw commercial real estate as somewhere I could combine my interests in marketing, PR, real estate and business. My start in the industry was as an assistant to the retail leasing team in a commercial agency. I was so determined to work in the industry, that when I first applied and they asked me to come back in one year with more work experience, I put a note in my phone calendar and exactly one year later, and with an REIV Agents Rep Cert, I re-contacted the same agency and asked them to hire me. I loved my role and saw that in commercial agency there are so many moving parts, with every day presenting a different but exciting challenge. I learnt as much as I could about the industry, finished my Masters degree and pestered my boss to hire me an agent in the team. In my first year of agency, I had the opportunity to facilitate the largest retail lease for our team in Victoria which was an exciting and valuable experience. I have now since moved agencies to Cushman & Wakefield, in a dynamic and rewarding position as a Manager for retail leasing. Over the past three years I have been very lucky to learn from and work alongside some of the best agents and organisations in our industry and wouldn’t be in the position I am today without them. My advice is to always keep preserving and my key takeaway is that, the opportunities I have been given as a young agent are a testament to our industry’s willingness to share knowledge, embrace diversity and support those willing to learn. THE ESTATE AGENT – APRIL 2020 | 33
Members
Connecting members with each other and the REIV Chapter and Division Committees provide focal points for REIV engagement with Members to ensure that REIV services and policy priorities meet the needs of Members wherever they are located and whatever their particular interests.
REIV Chapters are real estate special interest groups providing Members with opportunities to engage with like-minded professionals and enabling the REIV to engage with Members on matters of particular relevance to them.
REIV is aware of the opportunities and challenges affecting all facets of the real estate sector across Victoria, and in supporting the development of REIV services and policy that make a real difference for all Members.
REIV Divisions provide a geographic focus for the achievement of the REIV’s objects as set out in the Constitution and the Mission and Strategic objectives determined by the Board.
Delegates from Chapter and Division Committees come together with the Board and delegates from the Past Presidents’ Council every two months as the REIV Members’ Council.
Chapter and Division Committees play an important role in ensuring that the
REIV Chapters
Neal Angus, Gil King, Leah Calnan and David Davis at the President’s Drinks. 34 | THE ESTATE AGENT – APRIL 2020
Auction Business Brokers Buyers’ Agents Commercial and Industrial Owners’ Corporation
Members of the Loddon Goulburn Division meet in Shepparton.
Property Management New Members Sales Valuers
Section Members head
v
2019–2020 REIV Chapter Committees
AUCTION Luke Banitsiotis Jane Caulfield Adam Docking Michael Hall Harry Li Andy Reid Raoul Salter Jeremy Tyrell Paul Tzamalis
BUSINESS BROKERS Gloria Ammerlaan Grita Angelucci Amin Badawi Jamal Dabab Anthony Latessa Ian Wollermann
BUYERS AGENTS Bernard Corser IanJames Richard Kerr Paul Murphy Janet Spencer Eddie Van Pamelen Noel Dyett
REIV DIVISIONS
COMMERCIAL & INDUSTRIAL
SALES
Michael Di Carlo William Di Donna Marni Lawson Megan Mander Tim Mitchell Richard Simpson
Leyden Burdett Karen Chernishov Christine Henderson Jason McDaniel Andrew Meehan
OWNERS CORPORATION
Warwick Burnham Jim Derzekos Aldo Galante Peter Lawrence Damian Lynch Steve Miles Darrell Simpson Julian Valmorbida Nichloas Walsh
Lee Maher Norman Mermelstein Adam Mikkelsen Michael Nardella John Ross Neville Sanders Alex Starr Lucas Taylor Kate Yeowart
PROPERTY MANAGEMENT Sabina Aldouby Leah Calnan Cindy Hartnett Nikki Jensen Sophie Lyon Christine Steere Courtney Thursfield Gina Tobolov Clem Tralongo
NEW MEMBERS Toby Campbell Anthony Cimino Peter Hannon Megan Kimpton Luke Piccolo
There are 10 Divisions of which all but the Metropolitan Division can be served by a Division Committee. The Metropolitan Division covers the Melbourne CBD and all inner and outer Melbourne suburbs and is serviced directly by the REIV. Mallee Wimmera South West Barwon
DIVISION COMMITTEES 2019 - 2020
VALUERS
Mornington Peninsula – Geoffrey Crowder – Andrew Meehan
Central Highlands Loddon Goulburn Ovens Murray
Gippsland Mornington Peninsula Metropolitan
Loddon Goulburn – Michael Blake – Matthew Bowles – Bradley Hinton – Tom Maher – Jacinta McIvor – Andrew Murphy – Nekti Tzouroutis
For more information about Chapters, Divisions and their Committees or to provide input to any of the committees, please contact the REIV Membership Team membership@reiv.com.au THE ESTATE AGENT – APRIL 2020 35
Membership
New members From 1 October 2019 to 31 January 2020 we welcomed 208 members to the REIV community. Building new relationships through networking is an important aspect of REIV membership. Please find the time to reach out to the new members.
Jatinder Aashat Paul Abel Sue Adair Malik Ahamd Karen Andrews Karen Arnott Peter Ayton Leanne Baker Lesley Bartlett Haylee Bedford Matthew Bishop Aristeade Blias Geoffrey Briscoe Andrew Brown Daniel Bullen Mario Butera Ben Cable Charles Callis Kimberley Carpenter Marcello CaspaniMuto Billy Chang Alan Chng Wei Chen Garry Chisholm Alan Chng Anthony Clark Narelle Crowder Peter Croxford Robert Curtain Talwinder Dahiya Anthony D’Agostino Tonya Davidson Andrew Davies Bill Di Donna Jade Diep
Arthur Dislakis Duc Do Joe Do Robyn Dodd Tony Dodd Mark Elliman Peter Evans Lara Falk Phillip Fent Janet Fleet Felina Fyfe Cassie Gardner Jacob Garro Robert German Sagar Godbole Suzanne Gray Janelle Gu Mike Guyomar Sam Hartrick Alex Hiebnikov Dan Huther Shahid Ismail Ruby Janssen David Jennings Kathy Johnson Andrew Jones Graham Jorgensen Peter Joyce Paul Kalra Selvan Kanniappan Melissa Karatjas Stacey Kelly Susan Kelly-Brown Luana Kenny Jonathan Kett Amir Khawaja
36 | THE ESTATE AGENT – APRIL 2020
Agata Kobus Isabella Kou Trevor Krohn Jeanette Large Rocky Lay Malcolm Lee Brian Lewis John Li Daniel Lock Gary Longden Brianah Lourandos Emma Lowe Andrew Lu Jimmy Lu Jimmy Lu Lu Michelle Lunney George Manolas Justin Matthews Douglas May Ben McMahon Fiona McMahonHughes George Manolas Kerri Meagher Leigh Melbourne Raj Middha Rachna Miglani Liz Minogue Johanna Mohamed Lateef Mohammed John Morello Pat Morrison Terrence Morse Niki Murrone Robert Natoli Dylan O’Donnell
Ryan Owens Ivana Palermo Shu Pan George Papanastasiou Nalin Perera Grant Perry Henry Qian Julia Qu Adam Quarrell Julia Que Peter Raja Jonathan Resic Fiona Richmond Mark Roberts Mick Roberts Khalid Sakhizada Daniel Secatore Troy Sheehan Mary Shi Laurel Sloan Sharon Smart Rory Somerville Cheryl Sonter Jane Sowersby Stephen Speck Sam Stevens Andrew Stone Art Sudharm Jeff Tan Yvette Tancheff Dave Tang Ji Thornhill David Tree Ken Tuder Worrawut Treewiroch
Ken Tuder Dheeraj Tuli Rob Tummons Michael Turnbull Lee Lee Ung Gabi Vertessy Ian Vine Jonathan Voong Gerard Walker Prince Wang Daniel Wheeler Maree Whitty Melanie Wickham Kristy Wilkin Hannah Williamson Stanley Wong Vincent Wong Linton Wood Diane Xie Jenny Xu Justin Yeap Robyn Yu Dean Zammit Peter Zamouzaris Karsin Zhang Robin Zhang Ying Zheng Zheng Aaron Zhao Li Zou
Section In memory head
Remembering Bill Heath Bill Heath passed away on 7 February, 2020, at 84 after a brief fight with melanoma. Bill HEATH F.R.E.I., F.A.P.I. Val.
His generous fellowship and sense of fairness extended to his whole life, not just in business. Bill lost his father at a young age, leaving school to start work with Australian Estates as an auditor after Year 11. From there he joined his father’s real estate firm in 1954. His Associate Membership of the ‘the Institute’ was confirmed in May 1957. Bill married his teenage sweetheart Wendy Baker in 1957 while also building his first home. Working full-time, night school led to formal qualifications in Valuation, Accounting and Business which he used to expand his business. One of his most interesting achievements was to recognise in the 1970s the value of computers in
REIV Sworn Valuer REIV President 1991 -92 REIV Director 1987-96
Milestones
20 YEARS
We congratulate the Members who completed important milestone Membership Anniversaries during the January 2020- April 2020 period.
40 YEARS Norm ABBEY OM Bryan CAIN Greg COSTELLO Robert HURST David JANE Geoff LEWTAS
30 YEARS Stephen CHESTERTON Philp CRAMER Noel CROUCH Owen DAY Dawn GORDON Graeme NICHOLSON David PEARDON Grant POWELL Tony PRIDE
20 YEARS Domenic CICHELLO Cameron DAVISON Ilija MENKINOSKI Tense VENNERI
Nick BRENNAN Graham COSTELLO Tim DARCY Sandra DUNBAR Andrew FAWELL Joe GRGIC Andrew MORLEY Milo RASINAC Connie STRANGIOYOUNG Craig TAYLOR
10 YEARS Gloria AMMERLAAN Sharlene BERTALLI Gerald BETTS William CHEN Kevin DU Shannon KOETSVELD Desi MAGRO Anna NEWELL Denis PAGAN Ryan PAGAN Kainen SCHRAPE Adrian WOOD
rental applications, thus revolutionising the paper based Multiple Listing Bureau (Chairman 1986-1988). He reached the top of his profession: President of the Real Estate Institute of Victoria, Senior Valuer of the Commonwealth admitted to the Supreme Court, and Administrator of Maroondah Council. He retired twice and was still working on his property north of Kyneton in October. Bill balanced business resilience with fiduciary responsibility, inspiring many in business through mentoring. Bill worked and played hard; he will be missed by his family and colleagues.
10 YEARS
10 YEARS
Stavros AMBATZIDIS Xenia AMBATZIDIS Aldo ANILE Peter ARGYRIOU Martine BANNISTER Sam BUCCA Frank CHEN Gordon CONNERS Bob DAI Narelle DORNEY Glen DOWNARD Margaret DUNCAN Mark Eddy Martin FALLON John FRISINA Terry GAZELLE Jason GIGLIOTTI Frank HAN Andrew HARLOCK Scott HOLLAND Alethia INFANTINO Simon JARMAN Steven KALB Amanda KOHLER
Rose KOUTOUMAS Stephen LAWRENCE Dean LUPSON Bruce OLIVER Evelyn PAPADOPOULOS Duane PEDRON Michael RICHARDSON Vicki SAYERS Gary SEAYE Vladimir SIMUNOVICH Kent SKOGLUND Wayne SMITH Dallas TAYLOR James TAYLOR Maria TSIOUKIS Adri VERHAGEN Nicholas WALSH Lynton WILLIAMS Ling XU Abraham ZIADA
Anna ZHAO
THE ESTATE AGENT – APRIL 2020 37
Around the REIV
REIV CEO Gil King and Sam Hopper.
A breakfast seminar on the Retail Leases Amendment Bill in March.
REIV Connect Ballarat.
REIV President Leah Calnan talks to Sky News about the pets legislation.
REIV President Leah Calnan speaks to REIV Certificate IV students.
John Mitchell retired after 30 years. 38 | THE ESTATE AGENT – APRIL 2020
Nicholas Lynch made a winning bid at the fundraising auction at the 2019 Awards for Excellence.
Paul Byrne and Tom Maher from Loddon Goulburn Division attend a Remembrance Day service.
Section head
THE ESTATE AGENT – APRIL 2020 39
THE BEST YOU CAN BE Leaders develop and nurture the culture of an organisation, whether it’s on the field or in business. Inspirational leaders set examples and don’t shy away from difficult decisions. They build teams that support each other. The REIV partners with the AFL Coaches Association giving Members an outstanding opportunity to learn from their vast experience in building resilient, high-performing teams.