The magazine for real estate professionals who are the difference. The Journal of the Real Estate Institute of Victoria / NOV. 2021 / Vol. 85 No. 3
Coveted awards celebrate excellence Industry accolades reward top achievers
Government Funding Eligible students save on accredited training
Locked down and locked out REIV mounts successful campaign against property market restrictions
All aboard The 2021/22 REIV Board of Directors takes office
The Estate Agent is published by the Real Estate Institute of Victoria.
Publisher REIV 335 Camberwell Rd, Camberwell, Victoria 3124 Editor Sarika Bhalla – sbhalla@reiv.com.au
Established in 1936, the Real Estate Institute of Victoria (REIV) is the peak representative body for real estate professionals in Victoria. Our Mission is “To enhance the professional excellence of our members to the benefit of the communities they work within, and to advocate and represent their interests”. Connect with REIV on social media. Find us on: facebook.com/REIVictoria @REIVictoria REIV @REI_Victoria
Features 14-17 Awards for Excellence Coveted honours celebrate the industry’s top achievers
18-19 Locked down and locked out The REIV campaigned against the Victorian Government’s property market restrictions
PRODUCTION Pagemasters
23 Your votes count! The 2021 Annual General Meeting on 30 November needs your input
Disclaimer Unless otherwise specifically expressed, the views or opinions appearing in The Estate Agent (EA) are those of the authors and do not represent the views of The Real Estate Institute of Victoria Ltd (REIV). The REIV gives no warranty about the accuracy, completeness, or reliability of the content of EA. The entire content is general information only. It is not advice or intended as advice and in no circumstances should be relied upon as 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.
2 | The Estate Agent – November 2021
24-25 Renewables for rent: Sustainable investment The many benefits of undertaking energy-efficiency or solar upgrades for rental properties
Contents
Contents
6-9 Gil King signs off as CEO
President’s report
Pages 4-5
CEO’s report
Pages 6-9
Bulletin
Page 10
REIV Awards Commercial & Industrial Marketing Awards Awards for Excellence
Pages 12-13 Pages 14-17
Advocacy Locked down and locked out
Pages 18-19
Board of directors The 2021/22 REIV Board of Directors takes office
Pages 20-21
AGM The 2021 AGM on 30 November needs your input
Page 23
Resources
29-30
Renewables for rent: Sustainable investment What happens when a tenant leaves goods behind? Top reasons for professional indemnity claims The challenges of families in business
What are we talking about?
Best practice
Pages 24-25 Pages 27-28 Page 38 Page 40 Pages 29-30
Frequently asked questions
Training
REIV Information Officers David Dundas and Jim Lourandos address common questions from Members
Government funding for accredited real estate training Pages 32-33
Data insights Hutly to revolutionise PropertyData Significant price growth creates new hotspots
Page 35 Pages 36-37
Membership
32-33
Member milestones New members
Page 41 Page 42
Government funding for real estate training Government-subsidised training is only available through training providers such as the REIV
The Estate Agent – NOVEMBER 2021 | 3
President’s report
Adam Docking REIV President
There have been many, many fond memories in the preceding years. Lots of ups, loads of downs and so many teaching moments that have made me the person I am today. It all started in Boronia with a gentleman named Michael B. Philips who was prepared to take Max Docking’s son under his wing. I was put through an ‘intensive’ induction program… ‘Here’s your desk, listing book and the phone. Get to it’. Even though I am a second-generation Real Estate agent I knew I had a long road ahead of me to learn just what it took to be a professional Real Estate agent. I always spell Real Estate with capital letters because I strongly believe it is an honourable PROFESSION that deserves to be recognised as such. My journey through Real Estate has always been in the eastern suburbs residential market where my first sale was at the eye-watering amount of $72,500! I had the privilege of working alongside people who I still count as
4 | The Estate Agent – NOVEMBER 2021
When I started my Real Estate career back in 1991, with my $99 suit and Kmart tie, I never thought that one day I’d be writing in the opening pages of the REIV magazine as the President.
superstars in the industry and have been lucky enough to be both mentored and trained by some of the most wellknown names in our profession. All along my 30-year personal journey I have never stopped learning ways to do my job better.
get through this together as an industry and as a brother and sisterhood. Moreover, we will be stronger and smarter for it.
After 30 years hands-on, day-to-day, in the industry, one thing does stand out – whether you sell, lease, manage, body corp, commercial or residential Real Estate, you’d have to agree we are a very resilient group. We’ve weathered stock market crashes, global financial crises, credit squeezes, market fluctuations and everything in between.
This is also the time to put some of our competitive ideas on the backburner and make sure we look after each other. Our industry is only as strong as the collective and, if we all strive for the same goal, we will all come through this with a stronger resolve and new methods of performing our jobs. We have ‘pivoted’ to working remotely, selling virtually and transacting via FaceTime, Zoom and digital signing. We have found ways to continue doing what is necessary.
Nobody would have foreseen a global pandemic that all but shut down the industry and the state for months on end. Although it has taken a toll both emotionally and mentally, not to mention financially, on many of us, we have continued to do our jobs and provide property services for the public who so desperately need our assistance. We WILL
In my journey through the halls of the Institute I certainly feel I have taken away more than I have given, whether it be training, conferences, competitions or some of the many other events the Institute has run over the years. The Institute has given me so much. But I also know that to get the best out, you must also put a lot in. My REIV
President’s Sectionreport head journey has taken me through the old sub-branches where, after several years, I was elected to chair of the Waverley Springvale branch. I’ve sat on committees and chapters, including the Auction Chapter where I became chair up until I was elected to the board. I have involved myself in many other areas of Real Estate and Institute affairs. The REIV is the voice of the industry and is the advocate for all of us working in the property sector. We have a strong voice, and we are listened to, acutely, by government, media and the public. That doesn’t mean you can stay personally silent though. If you see yourself as a professional who is determined to make a career in Real Estate, then decide now to get further involved. It’s as easy as reading the emails that come through from the Institute, then, when you find something you’re passionate about, think of joining a chapter. There is no better and faster way to learn your trade than by immersing yourself in it. Adam Docking REIV President
The Estate Agent – NOVEMBER 2021 | 5
CEO’s report
Gil King REIV CEO
At the end of the year, it will be almost five years since I walked into the REIV office to take on the daunting role of Chief Executive Officer. I had a lot of ideas for change, and as the first few weeks passed, I developed additional ideas for change. To be brutally honest, the REIV was an organisation that needed a refresh. One of my annoying habits is that I rarely look back and worry about the past. I tend to look at the here and now, and into the future. The words of Socrates have always held true to me: “The secret of change is to focus all your energy, not on fighting the old, but on building the new.” This, of course, is another annoying habit of mine – I love quotations.
By now most of you will know that I have announced my decision to retire at the end of this year. And, of course, if you didn’t know, well … now you do.
I remember sitting in that big office on the first floor and wondering how the kid who was enrolled in but rarely attended Noble Park High School got to sit in that chair. I have many people along my journey to thank for unwittingly allowing me to steal their good ideas and traits, and discard their bad ones. To say there were many organisational challenges is an understatement. I set my sights on some main goals. First, there was a poor, top-heavy organisational structure which needed to be corrected. Second, I was keen to promote a culture of responsible accountable spending backed by strong financial management with clear and
transparent reports to the Board. Next was to future-proof the organisation (little did we realise how important this would be when COVID-19 hit in 2020 and we were able to seamlessly transition to working from home due to our newly developed and comprehensive Business Continuity Plan). Next, the culture of the organisation needed to change to ensure 21st-century policies and procedures were developed, put in place and monitored. Finally, it was important to develop trust among the staff and ensure that respect for others was paramount. At the time I thought that was pretty much it, but like all organisations I soon came to realise that it was like peeling an onion. As I removed one layer, there
REIV CEO Gil King and former REIV President Leah Calnan hold a webinar for Members.
2017 REIV Ignite Conference: Former REIV President Joe Walton, REIV CEO Gil King, Western Bulldogs Coach Luke Beveridge and Wesfarmers Department Stores CEO Guy Russo. 6 | The Estate Agent – NOVEMBER 2021
REIV CEO Gil King, Victorian Treasurer Tim Pallas and former REIV President Leah Calnan.
CEO’s report Section head was another layer hidden underneath. I am pleased to say that on reflection most, if not all, of these organisational issues have been addressed and I will be leaving behind an excellent team who know their job and just get on with it.
I am pleased to say that on reflection most, if not all, of these organisational issues have been addressed and I will be leaving behind an excellent team who know their job and just get on with it.
However, there was much more than the organisational issues. REIV is a strong and respected voice in the property sector. My very first meeting with Gil King government was about the – REIV CEO proposed changes to the Residential Tenancies Act. That one issue certainly ambled along for over four years with high visibility, low clarity and massive trepidation. And still it continues. Truly, I don’t think we will see the full impact of the RTA changes until well after the pandemic is somewhat in the rear-view mirror. I am proud however that the final version and the accompanying legislation are less horrid than the original version(s). That is about as positive as I can be about it. We were faced with the ‘rebate statement’ issue on authorities which threatened the entire profession along with the Institute. Some vigorous discussion with government saw the legislative ‘fix’ pass through Parliament on the last sitting day before the State Election. So many people think this was an REIV forms issue. I could not tell you how many lawyers, forms developers and go-it-alone agents contacted the REIV
2019: Federal Treasurer Josh Frydenberg holds a press conference at the REIV with former REIV President Richard Simpson and CEO Gil King.
with exactly the same issue. I even had one agent (who shall remain nameless) tell me that their solution to the rebate statement was to leave it out of the authority entirely. Then there was underquoting, the spectre that pervades our thinking even today. It was front of mind for the profession during my first couple of years. The management of the issue by the Institute posed a significant dilemma. So many people think the
solutions are simple. I can tell you they are not. I sat in several real estate offices talking with agents who had fallen foul of the might of the State. Their experiences were not of a kind any person should endure. My thoughts on this are somewhat controversial so it is best I keep them to myself. Suffice to say, I have been on both sides of the government regulatory process for more than 25 years and that has allowed me a unique perspective. CONTINUED ON PAGE 9
The Estate Agent – NOVEMBER 2021 | 7
CEO’s report CONTINUED FROM PAGE 7
Other major advocacy issues related to Mandatory Disclosure for sales, OC Legislation and the National Training Package. Our training team has had to adapt to the changes in qualification standards during the COVID-19 period and we now have online training as the norm. This, of course, is part of the digital transformation that REIV is undertaking which has included the modernisation of VicForms through our relationship with Hutly, and the Choose a Member platform. Further digital transformation is a major part of the REIV’s strategic agenda for 2021-2023. Once delivered this will give a unique and personalised experience for our Members. We have held several seminars/ webinars on the issue of cladding which was of particular importance to our OC Members and Valuers. This is a significant issue for real estate. I recall in the first seminar when Stephen Kip discussed cladding and went on to mention the emerging issue of mould in buildings. What we see now is that when cladding is being removed, waterproofing and mould have become identified as major defects. It will be interesting and perhaps distressing to see where this ends up in the coming years. Then there was/is COVID-19. I recall all too well the Easter of 2020 when the government fundamentally shut down real estate. It is glib to say that it might have been Good Friday, but it was not a good Friday, or Saturday, or Sunday. Monday turned out to be a whole lot better. I don’t think I have ever spoken to a government Minister as much as I spoke to our (then) Minister over that weekend. Eventually we ‘got there’. And then we didn’t. And then we got there again, and then we didn’t, again and again. And so, the carousel goes around. When I first started out my first few experiences with REIA left me cold. I leave this role in total support of the REIA and its relatively new and amazing CEO Anna Neelagama and her team. REIA President Adrian Kelly, I am honoured to call you a friend as well as Vice President Hayden Groves. Thank you one and all for ‘righting the ship’ so to speak. I would urge every Member to learn more about what an incredible job the REIA team is doing.
2019 REIV Connect: REIV Information Officer Jim Lourandos, former Senior VP Leah Calnan, former President Robyn Waters and CEO Gil King.
I cannot mention the highs without reference to my greatest disappointment. That was the failure to secure changes to the REIV Constitution by only a handful of votes. My only comment would be to refer to my earlier quote by Socrates. I think many of the clauses in the Constitution may well have been drafted by Socrates, Plato and Xenophon. Notwithstanding that disappointment, I was so pleased that we were able to welcome OC Managers and Valuers as Members in their own right.
us physically from those experiences, but the memories remain with me and make me smile. Leah Calnan, your presence over two very long and difficult years elevated our Institute in the eyes of the profession, and the Victorian public. You totally deserve all the plaudits that have come your way. Adam Docking, unfortunately our time will be cut short, however I know you will continue to shine as you have done already. Your support for me and my team has been very much appreciated.
I have been extremely lucky to work alongside five outstanding Presidents. Joseph Walton; your guidance, faith, and trust, remain with me today. Your personal and professional sacrifices humble me. Richard Simpson, my friend, you have always been able to make me laugh and gave me an ear when I needed it most. Your efforts to bring me into the Blues Brothers world were vigorous, if not all that successful. Robyn Waters you taught me so much about real estate outside of Australia and introduced me to so many people of great character. I am so sorry that COVID-19 has removed
Thank you to the Members who have expressed their support and have actively engaged in such a positive manner with the REIV over the past few years. I wish you all the best for the future. Finally, it is important that I acknowledge the fabulous staff at REIV. I have been lucky to be part of a team that has helped to make me look good. They deserve as much credit for any success as I do for the hard work we have all put in. Gil King REIV CEO The Estate Agent – NOVEMBER 2021 | 9
Bulletin Nominate an REIV Account Administrator
Compulsory REIV CPD Module
OIECs can nominate an Account Administrator for your REIV Office Membership Account. This is to assist OIECs who may prefer to delegate the everyday management of their Office Membership.
All REIV Members now have access to the CPD Ethics Module for 2021/22. Please log in to the REIV e-learning platform, PropEL. Access from members.reiv.com.au
The administrator will have the ability to take the following actions on behalf of the Office Membership: • Order printed forms, REIV diary, stationery or other supplies • Pay invoices billed to the office membership • Contact the REIV for any queries or assistance on behalf of the OIEC • Keep the office profile up to date on the REIV website.
The Module: This course is a compulsory unit of learning under the REIV CPD program. The Ethical Practice in Real Estate module has been designed to assist REIV Members to gain a deeper understanding of ethics, as it relates to property transactions, and to encourage a greater appreciation of the impact that ethical behaviour has on the day-to-day activities of individuals and businesses. CPD Points: Successful completion of the module awards 2 CPD Points to the Member.
Visit reiv.com.au/ propel to access a masterclass series on building high performance teams. One-on-one discussions with senior AFL Coaches. Free for members.
10 | The Estate Agent – NOVEMBER 2021
Who needs to complete this: All Individual Members must complete and pass with 100 per cent correct answers. The quiz is not time limited; however, we expect that it should not take more than 30 minutes. If you do not receive 100 per cent correct in the first attempt, you may retry as many times as you like.
2022 Diary orders open Please visit members.reiv.com.au or email membership@reiv.com.au to place your diary order for 2022. The REIV Diary is a consolidated, single source of information for real estate professionals. The 2022 REIV Diary contains handy client information tools such as: • • • •
Stamp Duty Tables Settlement date planner Loan repayment indicator Metric conversion charts
Industry information resource: • Real estate conventions • Relevant Government Departments • Shires and Councils • Property related associations • Key contact details REIV Membership information: • REIA National Principles of Conduct • REIV Chapters and Divisions • Historical Lists And of course, all the calendar management features you would expect from a diary!
Bulletin
The Estate Agent – NOVEMBER 2021 | 11
Awards
REIV Commercial & Industrial Marketing Awards Sales Campaigns Development - Budget under $20,000 Winner McKean McGregor Forest Ridge, Strathfieldsaye Finalists Allard Shelton 7 Wightman Street, Footscray Savills (Vic) 65 Mary Street, Officer
Development - Budget over $20,000 Winner Emmetts Real Estate 169 -175 Toorak Road South Yarra Finalists Allard Shelton 7, 9, 11-15 Fitzroy St, St Kilda Fitzroys Lots 13, 14 & 15 Central Boulevard, Armstrong Creek Savills (Vic) 8 Gordon Street, Elsternwick
Specialised Property Winner Jones Lang LaSalle JLL - Eureka Skydeck Finalists Allard Shelton 74 Armstrong St, Middle Park
Industrial - Budget between $15,000 $30,000 Winner Gorman Commercial Real Estate 35-37 Lakeside Drive, Broadmeadows
Office - Budget under $15,000 Winner Nichols Crowder (Carrum Downs) 5 Main Street, Mornington Finalists Fitzroys 23 Union Street, South Melbourne Gorman & Kelly Commercial Property Management 314-318 Drummond Street, Carlton
Retail - Budget under $15,000 Winner Fitzroys 23a Gladstone Street, Moonee Ponds Finalists Allard Shelton 425 High Street, Preston Nichols Crowder (Moorabbin) 1238-1240 Nepean Hwy, Cheltenham
Leasing Campaigns Best Leasing Campaign - Budget Under $10,000 Winner Miglic Dean 22-24 Northumberland Street, Collingwood Finalists Facey Kendall O’Dea 66-70 Wedgewood Road, Hallam Gorman Commercial Real Estate 168-170 Acland Street, St Kilda
Best Leasing Campaign - Budget Over $10,000 Winner Gorman Commercial Real Estate 148-150 Murphy Street, Richmond Finalist Gorman & Kelly Commercial Property Management 18-62 Trenerry Crescent, Abbotsford
Best Campaigns Overall Best Campaign by a Large Agency Winner Jones Lang LaSalle JLL - Eureka Skydeck Finalists CBRE 6 Capital Drive, Dandenong South Fitzroys 23a Gladstone Street, Moonee Ponds
Best Campaign by a Medium Agency Winner Nichols Crowder (Moorabbin) 1238-1240 Nepean Hwy, Cheltenham Finalists Allard Shelton 74 Armstrong St, Middle Park Nichols Crowder (Carrum Downs) 5 Main Street, Mornington Nichols Crowder (Moorabbin) 1A Sydenham Street, Sandringham
Best Campaign by a Small Agency
Gorman Commercial 1 Ellsa Street, Balwyn North
Retail - Budget between $15,000 $30,000
Winner McKean McGregor Forest Ridge, Strathfieldsaye
Industrial - Budget under $15,000
Winner Fitzroys 580 Burke Road, Camberwell
Finalists Aston Commercial 11-13 Milgate Street, Oakleigh South
Winner CBRE 6 Capital Drive, Dandenong South
Finalists Gorman Commercial Real Estate 613-617 Bridge Road, Richmond
Finalists Allard Shelton 1 Bibby Crt, Moorabbin
Stonebridge Property Group 166 Gertrude Street, Fitzroy
Nichols Crowder (Moorabbin) 1A Sydenham Street, Sandringham
Retail - Budget Over $30,000 Winner Stonebridge Property Group Coles Woodend
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Stonebridge Property Group 1130 Mt Alexander Road, Essendon
Awards
Award Partners Thank you to all our Awards partners for their ongoing support.
The Estate Agent – NOVEMBER 2021 | 13
Awards
2021 REIV Awards for Excellence Individual awards Business Broker of the Year Winner John Kasapi Benchmark Business Sales & Valuations Finalist Choon Ng Xcllusive Business Sales
Business Development Manager of the Year Winner Gabriela Ammendola GA Industrial & Commercial Finalists Melissa Hickson Prime Residential Property Management
President’s Award Winner Bill Di Donna Gorman Kelly
Finalist Amelia Acquaro Tiga Commercial
Winner Stuart Taylor Jones Lang LaSalle
Outstanding New Agent of the Year
Finalists Luke Etherington Cushman & Wakefield
Winner Antoinette Nido RT Edgar (Toorak)
Daniel Eramo CBRE
Finalists Martin Leong Tiga Commercial
Marketer of the Year Winner Benjamin Roberts Blackbird & Wren Real Estate
Buyer’s Agent of the Year
Finalists Amelia Acquaro Tiga Commercial
Finalists Mark Errichiello Master Advocates Real Estate Services Melissa Opie Keyhole Property Investments
Commercial Property Manager of the Year Winner Silvana Di Camillo Network Pacific Real Estate
Winner Rachel Boggs Caine Real Estate
Commercial Salesperson of the Year
Gary Liew PhilipWebb Rentals
Winner Miriam Sandkuhler Property Mavens
Operational Support Award
Antoinette Nido RT Edgar (Toorak)
Operational Leadership Award
Annamaria Stella TWIG Real Estate
Owners Corporation Manager of the Year Award Winner Stephen Briffa Network Pacific Real Estate Finalist Michael Cimino Inner Owners Corporation
Winner Rebecca Berry Belle Property St Kilda
Property Valuer of the Year
Finalists Katherine Di Natale Network Pacific Real Estate
Winner Adriano Russo CBRE
Deb Merchan Impact Realty Group (Mt Eliza)
Finalists Katherine Dean Miglic Dean Chad Kendall Facey Property
Residential Property Manager of the Year Winner Wendy Steel Max Brown (Vic) Finalists Ashlee Sciberras Reliance Real Estate (Melton) Shae Lawrie Exclusive Property Management
14 | The Estate Agent – NOVEMBER 2021
Residential Property Manager of the Year (Executive) Winner Melissa Hickson Prime Residential Property Management Finalists Amy Lawson Impact Realty (Mornington) Megan Wilson Nelson Alexander
Residential Salesperson of the Year Winner Taney Jain Reliance Sales Finalists Antoinette Nido RT Edgar (Toorak) Michelle Stephens OBrien Real Estate Carrum Downs
Residential Salesperson of the Year (Executive) Winner Vicki Sayers RT Edgar (Peninsula) Finalists Sarah Case RT Edgar (Toorak) Ravi Gupta Reliance Real Estate Point Cook Mike Muncey Noel Jones Mitcham
Awards
Agency awards Best Website Award Winner Eview Group Finalists Aston Commercial Nichols Crowder
Commercial & Industrial Gold Award for Overall Marketing Excellence Winner Jones Lang LaSalle Eureka Skydeck Campaign Finalists Fitzroys 23a Gladstone Street, Moonee Ponds Nichols Crowder (Moorabbin) 1238-1240 Nepean Hwy, Cheltenham
Commercial Agency of the Year Winner CBRE Finalists Nichols Crowder (Carrum Downs | Mornington) Tiga Commercial
Community Service Award Winner HomeGround Real Estate Finalists Compton Green OBrien Real Estate Shelter Real Estate
Corporate Promotion Award
Small Residential Agency of the Year
Winner Noel Jones Real Estate
Winner Noel Jones (Mitcham)
Finalists Lowe Living OBrien Real Estate
Finalists Blackbird & Wren Real Estate Keyhole Property Investments
Innovation Award
Project Marketing Award
Winner Network Pacific Real Estate Finalists Eview Group Inner Real Estate Listsocial
Marketing and Communications Award Winner Facey Property
Winner Castran Gilbert Bianco, Brighton Finalists Ararat Ballarat Real Estate Lot 3 St Marnocks Rd, Yalla-Y-Poora OBrien Real Estate (Carrum Downs) 1675 Stumpy Gully Rd, Moorooduc
Finalists Compton Green Meadows Property Group
Property Data Sales Agency of the Year (Metro)
Large Residential Agency of the Year
Winner Whitefox Real Estate
Winner OBrien Real Estate (Carrum Downs | Chelsea) Finalists Eview Group Mornington Peninsula Reliance Real Estate
Medium Residential Agency of the Year Winner Woodards (Manningham)
Finalists Kay & Burton (Flinders) Peninsula Sotheby’s International Realty
Property Data Sales Agency of the Year (Regional) Winner Cantwell Property Castlemaine Finalists Dungey Carter Ketterer Jellis Craig Ballarat
Residential Marketing Award (Budget under $10k) Winner Blackbird & Wren Real Estate 115 Outlook Lane, Gisborne Finalists Collings Real Estate 23 McGregor Street, Fairfield Noel Jones (Doncaster) 438 Lygon Street, Carlton
Residential Marketing Award (Budget over $10K) Winner RT Edgar (Toorak) 4-5 Myvore Court, Toorak
Residential Property Management Team of the Year Winner Network Pacific Real Estate Finalists McGrath (Greensborough | Eltham) Nicholas Lynch Rentals
Residential Sales Team of the Year Winner Blackbird & Wren Real Estate Finalists Inner Real Estate McGrath (Greensborough | Eltham) RT Edgar (Peninsula) RT Edgar (Toorak)
Finalists C+M Residential OBrien Real Estate (Cranbourne)
The Estate Agent – NOVEMBER 2021 | 15
Awards
2021 REIV Awards for Excellence Community Service Award HomeGround Real Estate We are proud to say that the Community Service Award continues to be one of the hotly contested categories, a testament to the sector’s commitment giving back to the communities they work in. This year’s winner HomeGround Real Estate is Victoria’s first social enterprise real estate agency. HomeGround was born out of the recognition that the community cares about homelessness but is not always attracted to the traditional means of contribution to charity. Becoming a HomeGround Residential Rental Provider requires nothing more than a switch of property managers and a review of the rent that the property is offered at; full market value, below market rent or other options that can help ease rental stress. The private investor market can make a real contribution to ending homelessness in our great city, simply by choosing HomeGround to manage their property! HomeGround Real Estate is a property management service that invests all profits into the community through Launch Housing to help end homelessness. Through their partnerships with major brands in the real estate sector, they can also assist some tenants in times of hardship by making direct contributions to their rental payment to help ease financial pressures. HomeGround Real Estate chiefly acts as a property management agent, but also offers services such as vendor advocacy, workshops, advice and listings.
Residential Marketing Award (Budget under $10k), Residential Sales Team of the Year and Marketer of the Year Blackbird & Wren Real Estate The team at Blackbird & Wren Real Estate had a successful year at the 2021 REIV Awards for Excellence. The efforts of the sales and marketing team was recognised as they took home three wins: Residential Marketing Award (Budget under $10k), Residential Sales Team of the Year and Marketer of the Year. The team was also announced a finalist in the category Small Residential Agency of the Year. A husband and wife team, Ben and Mary have built their business ground-up and established a name for themselves in the north western suburbs of Melbourne. In their words: “Our business is proof there is room in this industry for a business like ours, underdogs, who just wants to help provide trusted, authentic, genuine and caring support to those moving onto their next chapter – whatever that may be! “We might be small & boutique, but we are mighty, and we are proving this with every single transaction and interaction! “Watch this space! For us the best is still to come…”
Residential Salesperson of the Year Taney Jain A first-time winner of the Residential Salesperson of the Year, Taney Jain has built a successful career in real estate through hard work and determination. A strong believer in building and supporting teams not just within his business but also in the wider real estate community he shares his time and knowledge generously.
Taney Jain 16 | The Estate Agent – NOVEMBER 2021
Taney believes: “Every time he helps out others in the industry, he learns more about his own professional development. Which is why he is only too happy to adopt the role of mentor to his peers. By sharing and often solving their problems, his own understanding of the industry deepens.”
Taney has extended his mentoring sessions beyond the Reliance Real Estate team and now invites attendance from any agents looking to share their problems, hear his advice and discuss the individual issues they are facing. “Most problems aren’t business problems. It’s outside issues that distract us,” he says. Taney boosts staff retention by his ability to value and understand his employees’ goals and aspirations as his own. When staff are really committed to their employer, the overall health of the company is much better, he says.
Awards
Outstanding New Agent Antoinette Nido RT Edgar Toorak After being named this year’s Outstanding New Agent, Antoinette Nido hopes that her success can inspire other women and men in the industry. “Coming into real estate as a mature woman with no previous experience and achieving the results that I have for my vendors can inspire others to enter the industry and make a difference,” she says. “It’s important to show that you can set and break records without compromising integrity and standards.” Although a recent addition to the real estate sector, Antoinette has decades of experience in wealth creation, money
management and economics, holding senior roles as a Tax Director with Ernst and Young, an economist leading a highly successful property trust and as a member of the University of Melbourne’s Business and Economics Alumni Council. Antoinette’s background in wealth creation and investment helps her drive outstanding results for clients. In just her second year as an Agent she made the highest recorded sale at $19,250,000 with the sale of Simonds Hall in South Yarra by creating an opportunity and putting the deal together. “In the future, I want to build on my reputation and keep growing,” she says. “If you’re only motivated by money, you won’t be successful. My ongoing motivation is to get the very best deal for my vendors and also find the right house for each buyer. My focus is always on the long-term relationship not the transaction.”
REIV President’s Award Bill Di Donna Director Property Management, Gorman Kelly Bill has more than 35 years of property management experience across Melbourne’s suburban commercial property market. Bill is a licensed estate agent, has an Associate Diploma in Real Estate Valuations (RMIT). Bill is a member of the REIV Commercial
and Industrial chapter committee who has taken keen interest and initiative in engaging with fellow agents to assist where possible. Bill continues to make a great contribution to the sector by supporting Members with information on legal issues, trends and insights to achieve best practice.
Bill Di Donna The Estate Agent – NOVEMBER 2021 | 17
Advocacy
Former REIV President Leah Calnan weighed in on the inability to conduct open for inspections in an opinion column in the Herald Sun.
Locked down and locked out The Victorian Government’s lockdown measures over July 2021 to September 2021 did not permit any listing, selling, buying or leasing activity in real estate. These strict measures brought the sector to its knees and put many Victorians in extremely difficult situations – financially and emotionally. Housing remains one of the biggest financial commitments that people make during their lifetime – those decisions were being made blind or not being made at all. The REIV made dozens upon dozens of representations to the Victorian Government but these pleas were repeatedly ignored. In order to make sure that the message got through, the REIV took a more public stance. 18 | The Estate Agent – NOVEMBER 2021
An emphatic media campaign was launched on 7 September, 2021. Published as full pages advertisements in the Herald Sun and social media platforms, this was one of the few advertisements that was covered as a news story by a range of broadcast media. Most major TV, radio and print news channels talked about the campaign and highlighted the issues raised. The campaign was also
read in Parliament by the Hon David Davis Leader of the Opposition in the Legislative Council. Restrictions on real estate were eased from 11.59pm on Friday, 17 September, ahead of any announcements for other industry sectors. It was pleasing to see common sense ultimately prevail through the removal of the onerous restrictions.
Advocacy
Full-page ads formed part of the REIV’s campaign against the State Government’s property market restrictions.
The sector worked hard to inform Government on how the harsh shutdown of real estate services achieved nothing positive; in fact, it caused substantial damage at all levels of property market participation and paralysed those with a desperate need to find accommodation or realise their assets. It is now important that our members
lead sellers, buyers and renters through COVID-safe measures and help ensure the sector returns safely back to its best. The REIV continues to work with government to seek clarity and detail on the roadmap. No doubt 2022 will pose some challenges as Australia reaches the vaccination targets agreed by all states and territories.
It is now important that our members lead sellers, buyers and renters through COVID-safe measures and help ensure the sector returns safely back to its best.
The Estate Agent – NOVEMBER 2021 | 19
Board of Directors
Adam Docking
Richard Simpson
Andrew Meehan
Jacob Caine
Leah Calnan
Michael Clements
The REIV Board of Directors Adam Docking
Andrew Meehan
Adam became a Fellow of the REIA in 2019 and was Chair of the REIV’s Auction Chapter Committee for a number of years.
Under Andrew’s leadership, his business was awarded the REIV Medium Residential Agency of the Year in 2015, 2016, 2017, 2018, and the REIV Property Management Team of the Year 2019.
President Director of MJ Docking & Associates, Adam Docking has more than 30 years’ experience in the real estate industry. His Vermont-based agency was founded by his father in 1983 and operates in the residential, commercial and property management sectors.
Adam was elected to the REIV Board of Directors in 2017. Adam served two consecutive years as REIV Senior Vice President before being elected as President for 2021/22.
Richard Simpson
Senior Vice President Richard Simpson is a partner in W.B. Simpson & Son, a family real estate business situated in North Melbourne with more than 140 years of history. As a Principal in a business that sells and leases both residential and commercial property, Richard has developed an excellent understanding of the major issues facing the real estate industry. Richard provides extensive input into the REIV and has previously served as Chair of the REIV Commercial and Industrial Chapter Committee. Before joining the family business, Richard was a Chartered Accountant with a major firm where he worked in the banking and finance and property development sectors. Richard was elected to the Board of the REIV in 2015 and has previously served as Vice President, Senior Vice President and as President in 2017/18. 20 | The Estate Agent – NOVEMBER 2021
Vice President Andrew Meehan is the Director, CEO and co-founder of the Nicholas Lynch Real Estate Group. He is also a licensed real estate agent, a qualified surveyor, an MBA holder and a member of the FIABCI, the International Real Estate Federation.
Andrew has been actively involved with the REIV for many years, serving on several committees, chapters and divisions. Andrew brings strategic expertise and strong industry knowledge of issues affecting agents and agencies.
Jacob Caine
Director Jacob Caine is a licensed real estate agent, holding an honours degree in music, an MBA and studying for a Master of International Relations with Harvard University. Appointed as CEO of Caine Real Estate from 2012, Jacob has gained hands-on experience of all roles in the family agency. He was also appointed by the REIV Board as a Nominated Director on the Board of Realestateview.com.au Ltd from 2017 to 2020. Jacob has been an active Member of the REIV as a member of the former Young Agents Chapter Committee, Members’ Council Delegate and Chair of the former REIV Melbourne Central Division Committee. Jacob is keen for membership growth from new agents and emerging agencies, creating an inclusive culture and continuing the journey to deliver a reinvigorated, modern and vital Institute.
Leah Calnan
Director Leah Calnan served as REIV President for two terms 2019/20 and 2020/21. Leah has a long history of involvement with the REIV including as Chair of the Property Management Chapter Committee and as a training facilitator in Property Management. Leah was elected to the REIV Board of Directors in 2014. Leah’s experience encompasses more than 20 years in the property industry, commencing as an Assistant Property Manager. Leah is currently proprietor and Director of Metro Property Management.
Michael Clements
Director Michael Clements is a Melbourne-based commercial lawyer and comes to the Board with a strong background in corporate and commercial advisory. As a Director of Harris Carlson Lawyers, Michael practices across a broad range of legal disciplines, including a longstanding reputation in residential and commercial property transactions. Michael’s daily interactions with key property sector stakeholders (including many REIV members) sees him well placed to contribute as an Additional Director on the REIV Board.
Board of Directors
Noel Dyett
Sophie Lyon
Megan Mander
Renee Reynolds
Noel Dyett
Renee Reynolds
He has a long history of involvement with the REIV, holding a number of senior Board positions including President and Senior Vice President, as well as REIA President in 2008 and 2009.
Before transitioning to a career in real estate, Renee had been an Australian and International ballroom dancing champion and ran her own ballroom dancing school.
Director Noel Dyett has been actively involved in the real estate industry for more than three decades. A licensed estate agent, former certified practicing accountant and valuer, during his career Noel has sold, leased and managed residential, commercial and industrial property.
Director Seven years after entering real estate, Renee Reynolds established Release Property Management in Geelong. Renee has been an active REIV Member throughout her career having been both the Chair and Secretary of the former Geelong Division and the recipient of REIV and Geelong business awards.
Noel has also served on a number of Institute committees including the Bendigo Division Committee.
Renee is a licensed real estate agent, studied accounting, is committed to continuing professional development and is a regular speaker at Property Management Conferences, Women in Business and REIV events.
Sophie Lyon
Megan Mander
Director Sophie Lyon has been associated with the REIV Board for many years, having previously served as a Director and Vice President. An experienced agent, specialising in property management, Sophie is also a licensed estate agent. Her involvement with the REIV dates back to 1994 – participating in a range of committees such as Members’ Council, Ethics Committee and Past Chair of the Property Management Chapter, as well as being an REIV accredited trainer. She has previously worked with a number of large organisations in Melbourne, and is currently General Manager Property Management at Jellis Craig Boroondara, overseeing a division which manages more than 2,500 residential properties.
Director Megan Mander’s real estate experience covers Victoria and South Australia, over a period of more than 20 years. Her experience includes commercial property management, leasing and sales. In 2016 Megan opened her own real estate agency Urbane Commercial Pty Ltd specialising in commercial property and facilities management. In addition to being a licensed real estate agent, Megan also holds a Diploma of Management, a Diploma in Operations and Facilities Management and has undertaken mediation training through Dispute Settlement Victoria.
Robyn Waters OAM
Robyn Waters OAM
Director A formidable force in the Victorian real estate industry Robyn was awarded the OAM in 2020. Robyn was the first Australian woman to be appointed World President of the International Real Estate Federation (FIABCI) in May 2014. She served as REIV President in 2018/19 and Senior Vice President for the prior year. Robyn also served on the REIV Board as a Director from 2001 to 2006 and was on the Estate Agents Council from 2015 to 2018. Robyn is a licensed estate agent who operates as a sole trader providing real estate services to a select portfolio of clients. She is the FIABC’s Trustee to the International Ethical Standards Coalition and a fellow of the REIA and Royal Institution of Chartered Surveyors (RICS).
Our mission: To enhance the professional excellence of our members to the benefit of the communities they work within, and to advocate and represent their interests.
Megan has been an active REIV Member for some years, including as a member of the Commercial and Industrial Chapter Committee and as a regular speaker and contributor to REIV and external events.
The Estate Agent – NOVEMBER 2021 | 21
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22 | The Estate Agent – NOVEMBER 2021
AGM
Your votes count! The 2021 AGM on 30 November needs your input. The Board will be recommending some updates to the Constitution and they cannot be implemented without a 75% majority in favour. You are encouraged to attend or make your voice heard by appointing the AGM Chair or another voting Member as your proxy to attend and vote for you, either on your instructions or at their discretion. Registration, proxy appointment and voting on the day will be managed online this year through Vero Voting. There will be four special resolutions for decision.
Allow Virtual General Meetings of Members (GMs) The REIV is a not-for-profit Company Limited by Guarantee constituted under the Corporations Act. Thanks to some temporary amendments to the Act, we were able to hold our 2020 AGM virtually and will do so again this year, with the Board and CEO participating from the REIV office. Permanent change to the Act is on the way, but the REIV will only be able to hold virtual GMs if the Constitution expressly permits them. It makes sense for the REIV to include provision in the Constitution so that virtual GMs can be held if necessary.
Direct Voting (DV) The Corporations Act permits DV but only if it is allowed in the Constitution. DV means that Members have the choice of appointing a proxy or voting in advance without needing to attend the General Meeting. It enables you to participate in decision making directly wherever you are and regardless of your work, family and other commitments.
2014 AGM
2015 AGM
2016 AGM
2017 AGM
2018 AGM
2019 AGM
2020 GM
2020 AGM
In person
11
12
19
20
28
50
77
41
Proxy voters
32
24
40
19
13
221
787
3
DV is not new and is used for voting in REIV Director and Division Committee elections. Member participation has increased since we moved to online elections. The Board is keen for DV to be extended to resolutions for decision at General Meetings. DV has been used by many companies for years, with more Institutes also benefitting from the increased participation of their geographically dispersed and time poor Members. The REIV’s counterpart in Queensland, REIQ, the CPA, AICD and GIA are four such examples.
Proxy Lodgement The change from “one business day” to “48 hours” is to correct an error and will remove the possibility of a breach of the Corporations Act.
Voting at General Meetings Voting when a poll has been demanded will still be by secret ballot, as currently, except for a vote on meeting adjournment and election of the GM chair when none of the Office Bearers are available. This is because those two matters must be voted on immediately.
Informed decision making It has been suggested that attending and being part of the GM discussion is essential for ensuring that Members are properly informed before they cast their votes. Informed decisions are important. Member engagement, the circulation of quality information, seeking feedback and the transparent sharing of feedback to Members, all in the lead-up to the GM, are essential in helping Members decide. In 2015, 2019 and 2020 when Constitution changes were proposed, more Members voted by proxy and the majority of proxies were instructed how to vote. As such, those votes were cast before each meeting. The Board is keen for more Members, wherever they are, to exercise their right to vote and have control over their decisions. Direct Voting adds to Members’ options. For detailed information about all the proposals and details about the 2021 AGM, please visit reiv.com.au/ about-us/corporate-governance/ annual-general-meeting
The Estate Agent – NOVEMBER 2021 | 23
Resources
Renewables for rent: Sustainable investment in the future Solar Victoria Chief Executive Officer Stan Krpan outlines the many benefits of undertaking energyefficiency or solar upgrades for rental properties. Australians love property. Whether it’s making plans to buy, owning our own home, renovating or investing.
Renovation lifestyle shows are a national obsession, but it’s often about much more than aesthetics.
More than 2 million Australians own an investment property according to the Australian Taxation Office – around 20 per cent of all property owners.
Homeowners are increasingly interested in improvements that both increase value and save money, particularly on energy bills, which is why adding insulation and solar panels is so popular. More than 20 per cent of freestanding homes in Victoria – over 500,000 homes – now enjoy the financial and environmental benefits of solar energy.
For many, working hard and saving to secure that second property as an investment has been part of an important financial life plan to help them set themselves up for the future, reduce tax burden, secure additional income from hard earned cash or assets, and hopefully invest in capital growth. As a nation of home improvers and renovators, Australians also make efforts to improve the value of their investment.
Property improvements are often seen as a ‘no-brainer’ for primary places of residence, but investors have been wary of similar upgrades to their investment or rental properties. At times of financial uncertainty, rental providers may question the value of undertaking energyefficiency or solar upgrades for rental properties, because the immediate benefit of lower power bills goes to renters. This perceived ‘split incentive’ can act as a deterrent for investors. But it shouldn’t.
The Victorian Government’s Solar Homes Program has, since its inception in 2018, supported more than 160,000 Victorians to install solar. For many this would never have been possible, or affordable, without the generous incentives on offer and interest-free loans.
The benefits to all – both owneroccupiers and renters – are clear and immediate; lower power bills providing hundreds of dollars in savings, reduced carbon emissions and a more thermally comfortable home. While the benefits for rental providers may not be as immediately obvious, there are many, and investigating in them is worth your time. With the support of the Victorian Government’s Solar Homes program, eligible rental providers can access a $1,400 rebate on a solar PV system and an interest-free loan for four years for an equivalent amount. That reduces the upfront costs of a rooftop solar PV system substantially, by $2,800, with the remainder generally forming a depreciable, tax deductible investment for rental providers.
Energy-efficient ratings and energy saving features are important to all property seekers. 24 | The Estate Agent – NOVEMBER 2021
The REA Insights Energy Efficiency Housing Report released in June this year shows that, in addition to minimum bedroom and bathrooms on offer, many people searching for rental properties
Resources
More than 500,000 homes in Victoria enjoy the financial and environmental benefits of solar energy.
across the group’s real estate platforms value sustainability features in a property. Report author and realestate.com.au data analyst Karen Dellow said energyefficient ratings and energy saving features are important to all property seekers, whether they are looking to buy, rent or build. Reducing energy bills was the top reason consumers cared about energy-efficiency ratings, marked as being important by 84 per cent of survey respondents. Solar power was the top search term for a home sustainability feature, rated by 81 per cent of survey respondents. Solar power made up 92 per cent of energy-efficient keywords used in searches. Marketing sustainability features to make a property more attractive to potential renters and buyers has become increasingly important for rental providers, agents and property managers over the past year. According to the report, such features were particularly prevalent in areas with high rates of development and newer suburbs. Much of this can be attributed to regulatory requirements and increasing trends in building contracts to incorporate these features.
The suburb of Clyde North in Melbourne’s outer south-east had the most listings with energy efficient features. Incidentally, Clyde North features consistently in the top 10 list of most popular suburbs for solar uptake under the Victorian Government’s Solar Homes Program. Tarneit in Melbourne’s west is consistently rated as number one. Investors are already seeing gains from adding energy-efficiency and sustainability features to their properties. A 2015 research report in the Australian Journal of Agricultural and Resource Economics found a 2.3–3.2 per cent property price premium associated with rooftop solar PV systems installed on homes in Perth. Other studies have found a premium for homes featuring solar PV installations. US real estate website Zillow reports that in the United States, homes with solar panels sell on average for 4.1 per cent more. Origin Energy reports that 57 per cent of homeowners say they would pay up to $10,000 more for a home equipped with solar, and 55 per cent of renters say that they would pay up to $10 more per week rent for a property with solar.
These are all positive indicators for rental providers and property investors particularly with higher vacancy rates and declining rents in Melbourne as rental providers compete for new tenants and renters being choosier about properties in a competitive market. For its part, the Victorian Government is providing cash incentives that make sense for savvy rental providers. In 2019, the Victorian Government announced that its Solar Homes Program would be extended to include 50,000 rental property rebates, to assist rental providers to go solar. It is the largest program of this type in the country and has been welcomed by renters and stakeholder groups. There are plenty of good reasons to invest in upgrades to rental properties that benefit both investors and renters – solar is an obvious choice. It makes properties more marketable and more attractive to potential renters and buyers. And best of all, we can play our part by doing something for the environment too. Stan Krpan CEO, Solar Victoria The Estate Agent – NOVEMBER 2021 | 25
Awards
26 | The Estate Agent – NOVEMBER 2021
Resources
What happens when a tenant vacates the premises and leaves goods behind? Often commercial tenants leave items behind after vacating premises. This is distinct from the reinstatement of premises, which is a separate issue. Sometimes items left behind can include: • Items of fitout such as partitioning, shelving and counters. • Air conditioning units, alarms, camera and video monitors. • Left over stock such as clothing, bric a brac and point of sale material. • Light boxes, signs and antennae. Sometimes if the tenant has left in a hurry or been evicted, there can be the
contents of a fully fitted restaurant or motor vehicles and other valuable items of equipment. These items then become a problem as the premises may be unsuitable to relet whilst these items remain on site. The former tenant may not also be in a position to collect them for whatever reason or there is a significant cost in doing so. This is not an uncommon problem however there various ways to resolve the matter.
What do the respective commercial leases list in relation to this matter? The 2016 R.E.I.V. lease clause 10.2 states: “If the tenant does not comply with clause 10.1(a) the landlord or the managing agent may dispose of the tenant’s fixtures and fittings and goods in the manner permitted by the Australian Consumer Law and Fair Trading Act 2012 for the disposal of uncollected goods.” The Australian Consumer Law and Fair Trading Act 2012 deals not only with commercial leased premises but also with goods held in general such as those left for repair. It covers residential tenants, secondhand dealers and the like. Sections 58 - 62 deal with low value goods under $200 which can be disposed of after giving the tenant 28 days’ notice. Medium value goods up to $5,000 also require that 28 days’ notice be given to the tenant but the items need to be sold privately or by auction. High value goods over $5,000 also require that 28 days’ notice be given to the tenant and private sale or auction of the goods must occur but additional conditions apply. In some instances, the fitout or items of equipment are listed by priority creditors in the form of a Purchase Money Security Interest (PMSI) on the national Purchase Property Securities Register (PPSR). These items cannot be disposed of until the creditor is contacted and arrangements made for collection. Not every item is subject to a PMSI. Drink fridges, coffee machines and the like can be left on site however the supplier’s details are often listed and they will make arrangements to collect their goods when notified. It is important to dispose of these goods promptly to avoid prolonged vacancy and issues with misrepresentation to prospective new tenants. An example of how abandoned goods are treated are dealt with in the following case at VCAT, Chantelle Enterprises Aust. Pty Ltd v Sangster Greenwood (Building and Property) 2019 VCAT 961 2 July 2019. The case had been the subject of a previous hearing BP 1066/2108 involving the determination of whether the premises (were) abandoned, whether CONTINUED ON PAGE 28
The Estate Agent – NOVEMBER 2021 | 27
Resources
CONTINUED FROM PAGE 27
the re-entry (by the landlord) was lawful and whether the premises (were) unsafe. The most recent order then dealt with whether the applicant (tenant) was entitled to re-enter the premises and whether or not goods left on the premises were abandoned.
Background The leased premises comprised a restaurant in the Dandenong Ranges. The tenant vacated the premises due to alleged defects with the building and the landlord subsequently issued a Section 146 notice the following month for arrears of rent. The Yarra Ranges Council then issued a Minor Buildings Works Order requiring the landlord to carry out restumping at the premises. The landlord then undertook the works to comply with the order and advised the tenant to recommence trading. The tenant did not do so and the landlord re-entered the premises thereafter on the basis of surrender and or abandonment of the lease by the tenant. 28 | The Estate Agent – NOVEMBER 2021
Months later the tenant contacted the landlord and requested the return of goods, being those items relating to a fixtures and fittings in the restaurant. The landlord some 12 months following abandonment advised the tenant to remove its goods which the tenant failed to do so. The matter proceeded to VCAT this year wherein the re-entry by the landlord was determined to be lawful and that the goods abandoned by the tenant reverted to the landlord.
Points to consider with this determination 1. Abandonment of the lease occurred due to a failure by the tenant to seek relief of forfeiture and its actions were consistent with abandonment of the lease. 2. Unlike the various provisions of the Australian Consumer Law and Fair Trading Act 2012 mentioned is our column previously, the member accepted the provisions of the lease, in that items abandoned by the tenant would automatically revert to the landlord.
The two actions at VCAT resulted in the loss of more than 12 months’ rent and outgoings as well as significant legal costs.
3. A section 146 notice issued for arrears of rent was not valid as a means of re-entering the premises and ending the lease at the expiry of 14 days from the date of issue because rent is not payable where the premises cannot be used or occupied. See sect 57 of the Act. 4. The premises ended up being sold approximately 12 months after abandonment by the tenant. The two actions at VCAT resulted in the loss of more than 12 months’ rent and outgoings as well as significant legal costs. The reader is left to consider what may have happened if repairs to the premises had been undertaken in a more agreeable manner with the tenant.
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.
Price Quoting – avoid the pitfalls Price quoting can be simple or complex depending on how you approach the process. The simplicity is in the basic principle underlying the legislation - the price representation must not be misleading or deceptive. This can be found in Consumer Law, and it was under this law which many of the notable prosecutions for underquoting took place. The Estate Agents Act sections 47A to 47D sets out compliance requirements to assist agents avoid being misleading or deceptive when marketing residential real estate. The
matter becomes complex when there is an attempt to mislead or deceive. The detail contained in the Estate Agents Act is not dealt with here as it is comprehensively covered in an information sheet on the REIV website: reiv.com.au/information-sheets. This article only looks into some scenarios that the Institute has become aware of. 1. The agent completed the authority and then searched for and selected comparables, properties that recently sold in the same range as the estimate on the authority. However, they were not like the listed property, so should not be
considered a comparable sale. Wherever possible the estimate on the authority must be based on the sale of three comparable properties, so finding the comparable properties needs to precede the completion of the authority. 2. The agent could not identify sales of three comparable properties, but a CAV inspector asks them to substantiate their estimate on the authority. Was it based on older sales of comparable properties but adjusted in line with price movements in the market since then, was it based on the price achieved per square metre where the value is entirely CONTINUED ON PAGE 30
The Estate Agent – NOVEMBER 2021 | 29
Best practice CONTINUED FROM PAGE 29
or largely in the land, or was it based on a recent valuation by a qualified valuer? There is no guarantee, but these forms of substantiation may be adequate. If the agent cannot substantiate their estimate, they have a problem. 3. A potential buyer inspecting a property listed for auction pointed out to the agent that the indicative price seemed a lot lower than what similar properties in the immediate area had sold for. The agent responded, “it is different in the case of auctions”. No, it is not different in the case of auctions, the indicative price should not be lower than the amount buyers are likely prepared to pay in the current market or the amount the vendor is prepared to accept if it is greater. The indicative price should not be influenced by the method of sale. 4. The agent found truly comparable properties which sold within the right period and used these to justify the indicative price. However, the agent is aware that the market is accelerating rapidly and clearly if the same properties were offered for sale again much higher prices would be achieved. The indicative price is therefore misleading and deceptive, so the agent should update the price on the SOI and the sale authority. 5. The vendor has directed in writing that they will not accept offers prior to auction and the indicative price is based on the agent’s estimate of what they believe buyers would be prepared to pay. Advertising doesn’t mention that offers prior to auction will not be considered. Buyers make offers above the indicative price but are informed that they will not be considered. Even though the offers are not being considered the indicative price needs to be adjusted based in what buyers have shown they are prepared to pay. 6. The agent quoted a price indicator only marginally above what the vendor paid for the property about seven years ago in a suburb which has shown strong price growth. Properties presented as comparable sold in the same price range, but the only factor common with the selected properties was the suburb location. The eventual sale 30 | The Estate Agent – November 2021
price was several hundreds of thousands more than the indicative price. The property type, style, size, condition must be considered when selecting comparable sales. In a dynamic market with low listing volume, it is even more important to ensure that the price estimation process is rigorous. Consider additional training or speak to the REIV Information Officers.
Bringing forward an auction date Members have sought clarity on a buyer’s cooling off rights where an auction date has been brought forward. The cooling off provisions contained in section 31 of the Sale of Land Act are also described in the contract of sale jointly produced by the REIV and the Law Institute. The provisions are often misunderstood. Quick changes to auction dates as a result of the recent lockdowns means that a better understanding of the issue is required. The property is advertised for auction and there are several interested buyers, so can I bring forward the auction? There is no cooling off right where “the sale is by publicly advertised auction” [section 31(5)(a)], so if the auction is to be brought forward the new time and date must be publicly advertised.
Nothing is stated in the Act about how long before the auction it must be publicly advertised or where it must be publicly advertised. However, if the period between the new advertising and the auction is extremely short, and/or the placement of the new advertising is extremely limited, there is a danger that in the case of a dispute a court might rule that the auction was not publicly advertised and therefore did not expunge a cooling off right. The intent of advertising is to attract potential buyers, so a court might conclude that a very limited time between the new advertising and the auction, and/or advertising in obscure places, meant that it could not reasonably be expected to attract buyers and was therefore not legitimate advertising. It could conclude that the sale was a private sale prior to the original date of the publicly advertised auction, and if it was more than three clear business days before that date a cooling off right existed unless one of the other exclusions applied. In conclusion there are risks associated with making this type of change. If with the agreement of the vendor, you decide to bring forward the auction date it is essential that the new auction date be publicly advertised.
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.
Training
Government funding for accredited real estate training The REIV offers the CPP41419 Certificate IV in Real Estate Practice and the CPP51119 Diploma of Property (Agency Management). These qualifications can be completed as a full-time or part-time student. Victorian and Commonwealth Government funding is only available through approved training providers. Government funded courses at the REIV are: • CPP41419 Certificate IV in Real Estate Practice: can be completed as a full time, or part time student and is a traineeship pathway • CPP51119 Diploma of Property (Agency Management): can be completed as a full-time or part-time student.
CPP41419 Certificate IV in Real Estate Practice There are three ways to fund your qualification CPP41419 Certificate IV in Real Estate Practice. • Skills First Government funding Concession (eligibility criteria applies): Out-of-pocket fee $500 • Skills First Government funding (eligibility criteria applies): Out-of-pocket fee $2,500 (payment plans available) • Full fee (not eligible for Government funding): Out-of-pocket fee $6,500 (payment plans available) Employers offering traineeships may be eligible for further government funding.
CPP51119 Diploma of Property (Agency Management) There are two ways to fund your qualification CPP51119 Diploma of Property (Agency Management) • Skills First Government funding (eligibility criteria applies): Out-of-pocket fee $4,500 (payment plans available) • Full fee (not eligible for Government funding): Out-of-pocket fee $8,000 (payment plans available) Employers offering traineeships may be eligible for further government funding support. 32 | The Estate Agent – November 2021
Eligibility for Skills First Government funding Eligibility can only be confirmed after an REIV Enrolment Form and Skills First Declaration is completed. There is no cost or obligation associated with this process. Some of the key eligibility criteria relevant to the CPP41419 and CPP51119 are listed here. Further details are available at skills.vic.gov.au Citizenship To be eligible for Skills First training, you must be: • An Australian citizen, or • An Australian permanent resident, or • A New Zealand citizen Age Skills First prioritises training for young
people (under 20), Apprenticeships and Foundation Skills, and otherwise requires students do progressively higher qualifications to be eligible. If you are under 20 years old you can do Skills First training at any level. Students must be 18 or older to train at the REIV. If you are 20 years or over, you can usually only do Skills First training at a higher level than any qualification you already have. Qualification level The REIV accredited training is a Level IV qualification, to be eligible any prior qualification should be Level 3 or under. There are also limits on how much Skills First training you can do. The limits are:
Training
• You can’t start* more than two qualifications in a year • You can’t do more than two Skills First qualifications at the same time • If you’ve already started* up to two government-subsidised qualifications at the same level in your lifetime you can’t do another Skills First qualification at that level. These limits encourage you to make informed decisions about your training and employment opportunities and finish your training. * This includes courses you start but don’t finish.
Victorian Skills Gateway’s funding eligibility checklist can be found at skills.vic.gov.au/s/how-to-check- your-eligibility
c) Veteran’s Gold Card; d) An alternative card or concession eligibility criterion approved by the Minister
Eligibility for Skills First Government funding – Concession
The concessions also apply to a dependant spouse or dependent child of a card holder.
Concession is only applicable for CPP41419 Cert IV in Real Estate Practice. You may be eligible for a concession if you hold a valid and current: a) Health Care Card issued by the Commonwealth; b) Pensioner Concession Card;
If you self-identify as being of Aboriginal or Torres Strait Islander descent, you will receive a concession regardless of the level of the course you wish to enrol in. Concession does not apply to fullfee-paying students.
To find out if you are eligible for Skills First funding, please complete the Declaration form available on www.reiv.com.au/fees or contact the REIV training team on training@reiv.com.au. REIV is a Registered Training Organisation (RTO 4042). The Estate Agent – November 2021 | 33
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Data insights
REIV takes another step towards building smart digital solutions for real estate Following the highly successful relaunch of VicForms with technology partner Hutly, the REIV is set to redefine real estate data. The REIV Board has signed a new agreement with Hutly to revolutionise PropertyData, REIV’s real estate data platform. The agreement means that in October 2021 Hutly took ownership of the PropertyData platform and will partner with the REIV to deliver “member-first” technology solutions that will exceed market expectations. Hutly has already demonstrated their
capability and genuine interest in improving how real estate works for all participants through their management and improvement of the new VicForms platform. This is an important step in the long-term REIV digital transformation strategy to ensure Members have access to the latest technology solutions. Members will continue to have access to the market data, insights and
commentary published by the REIV including auction results, the monthly bulletin, quarterly medians and more. Please continue to report your sales results and share feedback. Hutly’s growing team of proptech specialists, smart contract technology, and continuous innovation make this a strategic partnership that will increase value for REIV members and PropertyData customers for years to come. Deep integration with VicForms, user-friendly data insights, mobile-first technology, and cost-effective access for REIV Members are at the core of this agreement. The REIV will continue to influence the platform’s future strategy while Hutly will use its technology expertise, skills, and experience to further establish PropertyData as the leading real estate data platform. For any queries regarding your PropertyData subscription, please contact support@propertydata.com.au
The Estate Agent – NOVEMBER 2021 | 35
Data insights
One in a million The median house price for metropolitan Melbourne surpassed the $1 million mark for the first time in March quarter 2021 and has since held at that level. Significant price growth across Victoria has created new growth hotspots and created challenges for people who may find their preferred suburbs now out of reach.
proving similar access to amenities, the “bridesmaid suburbs”. It is likely that some of these areas will benefit from the ripple effect of proximity to highgrowth suburbs.
In this analysis we take a closer look at some of the more affordable suburbs flanking the higher value areas while
Narre Warren North recorded $1,413,000 median house price in the 12 months ending September quarter 2021 with
Table 1
Median house price with at least 30 sales in the 12 months ending September quarter 2021
HOUSES Many of these opportunities are located towards the outer ring suburbs. The inner city and CBD also offer opportunities in units and apartments.
Table 2
Median unit price with at least 25 sales in the 12 months ending September quarter 2021
UNITS Toorak is seeing solid increase on its units and apartments with over 16 per cent growth to $1,190,000 over the year. You can find four neighbouring suburbs around it with half of that median unit price, led by Prahran ($630,000) which recorded 11.3 per cent price increase over the same period. Other hotspot suburbs that have multiple bridesmaid suburbs are Bentleigh East (4) and Caulfield South (3), which shows there are alternatives for buyers who want to buy in this geographic area. 36 | The Estate Agent – November 2021
HIGH GROWTH
24.8 per cent annual growth. The median prices for three surrounding suburbs are almost half of Narre Warren North – Narre Warren ($680,000), Endeavour Hills ($715,000), and Berwick ($804,250). There are opportunities for discerning buyers in other growth hotspots. Wonga Park, with significant jump of 36.0 per cent on its median house price over the year to $1,690,000, has two neighbours with median price less than $1 million. Both Chirnside Park and Croydon North recorded over 15 per cent annual growth, showing that it won’t be long for these two suburbs join the million-dollar club.
ADJOINING HIGH POTENTIAL
Difference
Suburb
Median House Price Suburb
Median House Price
IVANHOE
$1,667,500
HEIDELBERG WEST
$780,000
$887,500
LOWER PLENTY
$1,760,000
YALLAMBIE
$945,000
$815,000
WONGA PARK
$1,690,000
CHIRNSIDE PARK
$875,000
$815,000
NARRE WARREN NORTH $1,413,000
NARRE WARREN
$680,000
$733,000
RESEARCH
$1,610,000
DIAMOND CREEK
$990,000
$620,000
MOUNT MARTHA
$1,550,000
SAFETY BEACH
$950,000
$600,000
WILLIAMSTOWN
$1,517,000
ALTONA NORTH
$920,000
$597,000
ALTONA
$1,160,000
LAVERTON
$572,000
$588,000
GLEN WAVERLEY
$1,535,000
SCORESBY
$955,750
$579,250
PRESTON
$1,200,000
HEIDELBERG WEST
$780,000
$420,000
WHEELERS HILL
$1,350,000
SCORESBY
$955,750
$394,250
HILLSIDE
$725,500
BAIRNSDALE
$340,000
$385,500
LYSTERFIELD
$1,172,500
UPPER FERNTREE GULLY $800,000
$372,500
MARIBYRNONG
$1,285,000
AVONDALE HEIGHTS
$928,000
$357,000
HEIDELBERG
$1,340,000
HEIDELBERG HEIGHTS
$983,000
$357,000
HIGH GROWTH
ADJOINING HIGH POTENTIAL
Difference
Suburb
Median Unit Price
Bridesmaid
Median Unit Price
BRIGHTON EAST
$1,433,000
ORMOND
$618,000
$815,000
BEAUMARIS
$1,359,000
MENTONE
$727,500
$631,500
BENTLEIGH EAST
$1,180,000
MURRUMBEENA
$580,000
$600,000
TOORAK
$1,190,000
HAWTHORN
$595,000
$595,000
CAULFIELD SOUTH
$1,198,000
ORMOND
$618,000
$580,000
MCKINNON
$1,131,000
ORMOND
$618,000
$513,000
MONT ALBERT NORTH
$1,152,000
BOX HILL
$643,500
$508,500
CANTERBURY
$1,135,000
HAWTHORN EAST
$635,000
$500,000
STRATHMORE
$950,000
ESSENDON NORTH
$464,300
$485,700
MOUNT WAVERLEY
$1,120,000
OAKLEIGH
$643,475
$476,525
BLACK ROCK
$1,208,000
CHELTENHAM
$755,000
$453,000
BRIGHTON
$1,105,000
ELSTERNWICK
$670,000
$435,000
EAST MELBOURNE
$876,000
MELBOURNE
$515,444
$360,556
NIDDRIE
$784,000
ESSENDON NORTH
$464,300
$319,700
FITZROY
$875,000
CARLTON
$557,500
$317,500
Data insights Section head
Table 3
Median house rents with at least 30 leases in the 12 months ending September quarter 2021
RENTAL HOUSES The same principle also applies for renters, you can save up to 40 per cent or hundreds of dollars each week by looking to rent in neighbouring suburbs. For those renting a house in Toorak, they can save $400-500 per week by moving to the other five suburbs surrounding it while enjoying the same benefits as the blue-chip suburbs.
Table 4
Median unit rents with at least 25 leases in the 12 months ending September quarter 2021
RENTAL UNITS Gardenvale is probably the main highlight as you can save more than half of your weekly rent compared to renting in the affluent Brighton East and Brighton. Bentleigh East renters could potentially save up to $250 a week by renting into its surrounding suburbs such as Carnegie, Hughesdale, Murrumbeena, Oakleigh, or Ormond.
HIGH GROWTH
ADJOINING HIGH POTENTIAL
Difference
Suburb
Median House Rent
Suburb
Median House Rent
TOORAK
$1,180
PRAHRAN
$700
$480
CANTERBURY
$950
SURREY HILLS
$650
$300
CAMBERWELL
$795
BURWOOD
$500
$295
HAMPTON
$838
HAMPTON EAST
$550
$288
BLACK ROCK
$860
CHELTENHAM
$575
$285
SANDRINGHAM
$850
CHELTENHAM
$575
$275
MOUNT ELIZA
$750
MORNINGTON
$500
$250
GLEN IRIS
$750
BURWOOD
$500
$250
MALVERN EAST
$700
CHADSTONE
$450
$250
BRIGHTON EAST
$793
HAMPTON EAST
$550
$243
BEAUMARIS
$813
CHELTENHAM
$575
$238
IVANHOE
$595
HEIDELBERG WEST
$360
$235
BRIGHTON
$990
ELSTERNWICK
$758
$233
SURREY HILLS
$650
BOX HILL
$423
$228
TEMPLESTOWE
$700
DONCASTER EAST
$520
$180
HIGH GROWTH
ADJOINING HIGH POTENTIAL
Difference
Suburb
Median Unit Rent
Suburb
Median Unit Rent
BRIGHTON EAST
$630
GARDENVALE
$285
$345
BRIGHTON
$570
GARDENVALE
$285
$285
BEAUMARIS
$640
MENTONE
$380
$260
BENTLEIGH EAST
$598
MURRUMBEENA
$350
$248
ASHWOOD
$575
MALVERN EAST
$390
$185
PORT MELBOURNE
$530
WEST MELBOURNE
$350
$180
MONT ALBERT NORTH
$550
BOX HILL
$370
$180
YARRAVILLE
$470
KINGSVILLE
$305
$165
ASHBURTON
$555
MALVERN EAST
$390
$165
MOUNT WAVERLEY
$528
NOTTING HILL
$370
$158
ELSTERNWICK
$440
GARDENVALE
$285
$155
TEMPLESTOWE LOWER
$550
LOWER PLENTY
$400
$150
CREMORNE
$485
MELBOURNE
$350
$135
KEYSBOROUGH
$455
DANDENONG
$320
$135
FITZROY
$500
CARLTON
$370
$130
The Estate Agent – November 2021 | 37
Resources
Top reasons for professional indemnity claims When you’re in the business of providing professional advice, sometimes, things don’t go according to plan. Whether it’s a small oversight on your part, misplacing a document or making a mistake – there are many instances that can lead to a client taking legal action against you. You might hold Professional Indemnity insurance to cover such claims, but it is also worth understanding some of the different events that can give rise to these types of claims for a well-rounded approach to managing your risk. Negligence: Professional Indemnity claims can arise specifically from negligence. This means as a professional you have breached your duty of care in some aspect of your work which has resulted in incorrect or misleading advice being provided. Examples might include making an incorrect calculation, or failing to examine a client’s history thoroughly. Loss of Documentation: Sometimes professional negligence claims can arise as a result of you misplacing or losing documentation. This can also include filing documents under the wrong client name leading to a claim for compensation. Misplacing documents can not only impact your professional advice or service but may also lead to a privacy breach if you lose confidential documents, or leave them in a public place. It’s easy to think that this is not applicable given the digital world we operate in today, but it also applies
in digital settings – all it takes is accidentally deleting an email; saving a document in the wrong folder, or sending an email to the wrong client. Misleading information: This can occur where you provide information professional advice to a client that is incorrectly interpreted and the client makes a decision based on your professional advice that ends up costing them financially. This can also be a risk if your business advertises its professional services on any external platforms. Incorrect advice: Incorrect professional advice can be provided either as a result of negligence, or can result from an honest mistake from your part. If you provide incorrect professional advice to a client, and your client suffers a loss, your client may have a right to take legal action against you. Intellectual property infringement: While this is by no means a new phenomena, it is even more of a prominent risk in today’s digital age. Intellectual Property infringements can take the form of violation of IP rights, copyrights patents, trademarks, industrial designs, and trade secrets.
About Aon Aon is proud to be the new Platinum Partner of the Real Estate Institute of Victoria. Access a range of competitively priced insurance options arranged by Aon today. We’ll work through your industry’s risk and insurance needs – complex or simple, and scan the market to offer you a solution aimed at offering a superior combination of cover, price and service. Get a quote online or speak to an experienced insurance adviser today. Learn more at aon.com.au/reiv © 2021 Aon Risk Services Australia Limited ABN 17 000 434 720 AFSL no. 241141 (Aon)
Professional Indemnity Insurance It’s also important to note that many PI claims can occur due to a combination of the above factors, not necessarily a single reason. Reasons for PI claims can also vary based on your industry or profession. Therefore, when it comes to selecting your Professional Indemnity Insurance provider, it’s worth choosing a broker that has a detailed understanding of your industry. By arranging your PI Insurance through a broker, you can be confident that if you need to make a claim, you’ll have the support through the claims process. – Aon For more information, please visit aon.aom.au/reiv
Please note: The information contained in this article is general in nature and should not be relied on as advice (personal or otherwise) because your personal needs, objectives and financial situation have not been considered. Before deciding whether a particular product is right for you, please consider your personal circumstances, as well as the relevant Product Disclosure Statement (if applicable) and full policy terms and conditions available from Aon on request. All representations on this website in relation to the insurance products we arrange are subject to the full terms and conditions of the relevant policy. Aon has taken care in the production of this document and the information contained in it has been obtained from sources that Aon believes to be reliable. Aon does not make any representation as to the accuracy of the information received from third parties and is unable to accept liability for any loss incurred by anyone who relies on it. The recipient of this document is responsible for their use of it.
38 | The Estate Agent – NOVEMBER 2021
Resources Understand the position of the family or family in business Maturity Expansion/formalisation Start-up
BUSINESS AXIS Entering Working Passing Young the together business the business family baton
Controlling owner Sibling partnership
FAMILY AXIS
Cousin consortium OWNERSHIP AXIS
Source: Family Business Australia
The challenges of families in business In the past, succession was often automatically actioned by death or disability. It is now commonplace for two generations of a family to work together in the family business, creating a unique dynamic. The key in today’s world is communication. Where do you sit on the AXIS?
Warning signs of family wars
The above chart is a useful tool to know where the family and business is positioned now, to set up the strategy both short and long term.
Warning signs of family wars are forever present and worth looking out for. Look for attributes such as:
Families in business comprise around 70% of Australian business. There is a view that if a business was to be well advised and, set up on the best advice, it would be not to set up as a family business. Families and businesses have conflicting systems of operation. Examples may include:
Families • Emotional • Obligation based • Relationship-oriented • Status as birth rite • Nurture the weakest • Nepotism
Business • Objective • Task based • Task oriented • Selecting best person for the job • Survival of the fittest • Competences Think of the above differences in relation to the leaders of your business.
40 | The Estate Agent – NOVEMBER 2021
• Perceived unfairness or inequality • Process disagreement • No consensus • Privilege • Factionalism • Ambiguity It may be possible to mitigate the possibility of a family war or it maybe clear that no amount of wise counsel will deliver a positive result so a move towards separation may be the sensible solution – divide and conquer.
Consideration and takeaways • Is there a common set of values across generations? • Are there conflicting systems of operation – business (General Manager) vs. family (Owner)? • Is there a dominance of negative attributes that will prevent reconciliation?
MVA Bennett YOUR FUTURE, OUR BUSINESS MVA BENNETT is a Chartered Accounting firm in Melbourne and an REIV strategic partner. Our belief is that YOUR FUTURE is OUR BUSINESS, arising from rich history that dates back to our founding in 1941. Our capabilities are delivered by a team of seven partners and 50 staff governed by the profession’s quality controls. Why engage MVA BENNETT? We strive to differentiate ourselves from other accounting firms by seeking to: • Develop agreed wealth goals, by identifying and aligning mutual values and obligations that will underwrite our relationship • Continually meet expectations, with strong communications throughout our engagement • Use cutting-edge skills and tools to achieve our deliverables, and • Practise what we preach For further information, please contact Nicholas Rodier Partner, MVA BENNETT Chartered Accountants nicholas@mvabennett.com.au 03 9642 8000. Level 5, North Tower, 485 La Trobe Street, Melbourne mvabennett.com.au
• Is the governance system still appropriate as time has marched on? • Is the family “event ready” – death, disablement, divorce or just opportunity • How do you know that all is as it is? • Communicate, communicate communicate – MVA Bennett
Please note: Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their circumstances.
Membership Section head Milestones We congratulate the Members who completed important milestone Membership Anniversaries during September - December, 2021.
50 years Barry Plant Neville Sanders
40 years Iain Carmichael Bob Commons Ross English Robert Leach Graeme Lord Tim Lynch John Mills Andrew Nichols David Sowersby Peter Thomas Damien Tiernan Grant Williams Eugene Wood
30 years Geoff Bennett Mitchell Boys Ian Carmichael Paul Castran Peter Costin Michelle Flannagan Ian Holding Bill Karpathakis Graham Morrison Ian Wollermann Graeme Yalden
Barry Plant
20 years Jim Arvanitakis Chris Bender Tim Bindley Matt Bowles Nola Brown Susan Brozler Simon Carruthers Pernille Cavanough Andrew Cheah Stuart Cox Norman Dagher Bronwyn Daines Peter Gordon Lee Pellizzer Claudio Perruzza Barry Redmond Chris Rix Simon Roberts Sam Rossello Brett Stanley Tim Storey Vinh Tran Gregory Tuckett Alex Vouladas Simon Woodman
Neville Sanders
10 years Nazih Abbouchi Gus Anile Darren Askew George Auddino Paula Bellomo Gavin Berkowitz Guido Bonanni Paul Bond Mark Bourke Josh Callaghan Peter Christofi Mark Coster Lauren Diston Michael Fox Matthew Gibb Ray Gordon Leon Gouzenfiter Tim Hill Mark Howard Shane Howard Sue Kelly-Brown Greg Kerr Loretta Khoo Eyad Khudruj Alan King
Gus Kosasih Christopher Macey Zoe Malinowski Aldo Mangoni Connie Mantello Petros Margaritis Roydon McNerney Gabriel Mercuri Sally Morrison Josephine O’Gorman Onder Ozmetin Chris Panagiotidis Lucas Petrovich Dean Phillips Lourdes Piscopo Darren Pitson Joel Rawle Ritesh Saigal Matt Scafidi Randal Sharp Sean Simpson Kirk Stafford Wendy Steel Gavin Taylor Laura Teal Wayne Thompson Stacey Wade
The Estate Agent – November 2021 | 41
Membership
New members From 1 July, 2021 to 30 September, 2021 we welcomed 247 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.
Tamara Abbott Amit Agarwal Mel Ahearn Matthew Akritidis Bilal Ali Anthony Amanatidis Will Anderson Al Armstrong Priscilla Asi Kamal Asija Natalie Barbour Jessica Berton Brad Best Larry Bhall Pravinkumar Bhargav Steven Biggins Rachel Boggs Jack Bourke Daniele Brancatella Danielle Bunton Lucas Burton Mitchell Busuttil Samuel Butson Colleen Bye Amber Cachia Stuart Cade William Caldwell Sally Cantarella Maryanne Cardillo Isabelle Chan Aman Chawla Xuanping Chen Ricky Chen Vijay Chopra Mukesh Chopra Mario Christodoulou Alexandra Clavijo Jacinta Clifford Mario Conte Stephanie Cook Angela Cruickshank Simon Curtain Maree Curtis Tom D’Agostino Julian Davies Marie Demiris George Dermentzis Avi Dhillon Andrew Downie Adam Dureau Abhishek Elawadhi Kate Emerson Neville Emerson Daniel Eramo Luke Etherington Emma Evans Kirrily Evans
Mike Fan James Fang Gabbie Farnham Natalie Fasham Kim Ferguson Kingsley Ferguson James Ferris Ben Flannagan Matthew Florance Craig Frost Eddie Fu Michelle Gaget Salvi Galati Jane Gardner Claudio Gastaldello Peng Ge Pierce Geeraerts Farzin Ghaffari-Hesari Jeremy Gleeson Mark Gowans Alana Grant Angela Grant Peter Grivas Sydney Guerin Prince Gujral Nicholas Hadjiangeli Gilbert Hao Ann-Marie Hardwick Jimmy Harmer Anthony Hartshorn Nicki Hay Stanley He Serena He Beverley Higgs Dayna Hine Hoang Ho Kate Houghton Amy Hu Tony Huang Olivia Hughes Eric Hui Kha Huynh Maddie James Bradley Jensen William Johnson Dean Jones Mark Josem Diana Jurisic Sahil Kakar Vikas Kalra Karan Kapoor Chad Kendall David Kershaw Sital Khanal Lauren Kirby Rade Korac Troy Lam
42 | The Estate Agent – November 2021
Gabrielle Lapish Scott Latham Jason Lee Jessie Lehmann Martin Leong Xavier Leslie Paul Leydin Esther Li Christina Li Jason Li Adrian Lieschke Rayson Lim Peta Liu Samara Lovekin Rhys Lyster Weijie Ma Raghad Macksabo Aashish Mann Lawrence Hao-Liang Mao Matthew Matthews Daniel McDonald Sarah McFall Ashlee McKee Nathan McNamara Jim Michaelides Jack Miltos Lily Mithen Lachy Montague Azam Muhammad Zac Muller Matilda Munday Steve Murphy Akbar Nathani Elise Nemer Mitch Nguyen Tony Nguyen Matthew Nostro Katrina O’Carroll Ryan O’Grady Erin Pang Peter Pasula Hardik Patel Gabrielle Patterson Ian Payne Bronwyn Payne Robert Piscopo Gaurav Popli David Quinn Kylie Rendle Helen Romios Megan Rovers Adriano Russo Angela Ryder Amandeep Sabharwal Tamin Sakhizada Jet Saliu Dinu Sangroha
Sean Santoro Manik Sarasam Graham Scanlon Ashlee Sciberras Rajbir Shahi Shan Shanmugalingam Andrew Sharples Sam Sidiqi Alex Silver Jagpreet Singh Harvi Singh Harry Singh Kunwar Singh Casey Skipp Marinella Sortino Nicole Spencer Tony Street Loretta Sullivan Albert Sy Ruhi Tamanna Nick Tang Brendan Tang Desmond Tang Sam Tawadrous Stuart Taylor Jacob Theodore George Theodoridis Swaraj Thind Lisa Tran Kristy Trisca Karen Van Der Steeg Lauren Vaughan William Verhaggen Andre Veronie James Voltscos Lachlan Walker Xiaotian Wang Kai-Hung Wang Yangshan Wang Jackson Wang Yuxi Wang Stephen Wigley Marcus Willson Jensen Woo Hollie Wood Linda Xu Ziqi Yang Junzhi Yin Jason York Bianca Yow Debbie Yu Ruoxue Zhang Yalin Zheng Stanley Zhou Edis Zhubi
