The Estate Agent, September-October

THE JOURNAL OF THE REAL ESTATE INSTITUTE OF VICTORIA

REIV.COM.AU

REIV CONFERENCE Building strong client relationships MARKET UPDATE Winter chill couldn’t cool off buyers

THE ESTATE AGENT SEPTEMBER/OCTOBER 2014 VOLUME 78 NO.3

Country practice Helen Morrison’s three decades in regional real estate

Greener pastures

Tree-changers redefining regional markets

Third time lucky

Top auctioneer Harry Li’s winning bid

Fresh faces

Four new REIV directors on board for future challenges

Game changers Juanita Kelly is one of many who made a career shift into real estate

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Contents

22 ‘I think real estate is very similar to sport in terms of your work ethic and dedication; it is never a job, it is who you are … it is every minute of every day’

Kate Strickland, director at Marshall White Brighton Cover story

Features

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Wealth of experience Helen Morrison’s three decades in regional real estate

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Leaving the city behind Tree-changers are redefining regional markets

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Building strong relationships Trust, loyalty and embracing technology were the key messages at the REIV’s annual conference

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Career change agents bring lessons from another life

Fresh faces on board Four newly elected board members bring their ideas and experience to drive REIV forward

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KICKING ON TO REACH NEW GOALS

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Practice makes perfect Third time’s a charm for REIV’s Senior Auctioneer of the Year Harry Li

Bricks and mortar of real estate trade marks How smart branding can give agencies a competitive edge

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Contents

5 President’s Report 7

CEO Report

10 Bulletin 21 Online Marketing 28 Market Update 32 Member News 36 Young Agents 39 Course Schedule 41 Events Calendar

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43 Events Gallery 44 Best Practice 47 REIV Directory

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EA

Publisher REIV 335 Camberwell Rd, Camberwell, Victoria 3124 Editor Paul Bird pbird@reiv.com.au

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Advertising Rick Fiedler rfiedler@reiv.com.au 9205 6654

THE ESTATE AGENT

Estate Agent is published for the Real Estate Institute of Victoria by LandEd Publishing.

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The Estate Agent â?˜ September/October 2014

The views and opinions expressed in articles and columns of Estate Agent are those of the writers and do not necessarily represent those of the Real Estate institute of Victoria or LandEd Publishing

President’s Report Neville Sanders President REIV

New REIV board to lead industry in meeting exciting challenges

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hese are exciting times for REIV with four newly elected directors soon to take office, our annual awards night fast approaching and our annual conference now complete.

The new directors take office on October 1, and they are well equipped to lead the industry in meeting the demands being placed on us.

The election of property manager Leah Calnan, commercial agent Joe Walton and long-time agent and REIV past-president Geoff White to the REIV board, along with the re-election of agent and valuer Gavan Lethlean, brings valuable skills and experience to the new board. I’m particularly pleased that so many of the aspects of our industry covered by REIV are represented by these board members.

The coming months also mark an even greater emergence on to the international stage by the REIV and member Robyn Waters – with Robyn now at the helm of the Paris-based International Real Estate Federation (FIABCI). I am pleased to report that the FIABCI board, comprising senior property professionals from around the world, will meet in Melbourne in October, hosted by the REIV. FIABCI, a network of real estate professionals from 55 countries, aims to open the international community to its members, enabling them to translate the increased business opportunities that come with a broad base of contacts into financial success. So it meets around the world to increase these networking opportunities.

Chris McGregor, president of FIABCI’s Australian chapter, has noted that its membership in Australia has increased by 50 per cent in the past year. This is great news and indicative of the global outlook of our membership and members’ understanding of the importance of making contacts at the international level.

The REIV conference, held at

Above: John Shore was master of ceremonies at the REIV annual conference.

‘The REIV conference, held at the Crown Conference Centre, also illustrated the importance of meeting with and learning from the best in our industry’ the Crown Conference Centre, also illustrated the importance of meeting with and learning from the best in our industry, whether local or overseas.

The program enabled participants to tailor their own schedule, with speciality sessions catering for all areas in the property industry from property management to commercial and industrial real estate.

In a sign of the times, the sessions dealing with digital and social media and marketing skills were popular.

Experts such as Tara Christianson – a former US real estate agent and trainer who now helps individuals and companies in the property world get the most from technology – showed how new technology and mobile applications are changing the way we work.

Another major event is our annual Awards for Excellence evening. It will be held this year on October 23, with hundreds of members gathering

to celebrate the achievements of individuals and agencies in the past 12 months.

The awards night will come at the end of a solid year for the industry.

We have seen some impressive results across residential sales in particular, driven by ongoing low interest rates and solid interest from buyers.

While interest rates have ensured there has been strength in the market, they are creating challenges for some buyers – most notably, for many firsthome buyers who have faced difficulties entering the housing market.

While the low interest rates help first-home buyers, the proportion of them in the market has been dropping over the past two years. Although Australian Bureau of Statistics housing finance showed a small improvement on those figures very recently, difficulties faced by first-time buyers in getting a foothold in the market remain Continued on page 6

The Estate Agent ❘ September/October 2014

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President’s Report

Continued from page 5

concerning. Agents report they are competing with investors for properties in the affordable price brackets.

The Real Estate Institute of Australia, which represents REIV at the national level, has appeared before the Senate Economics References Committee inquiry into affordable housing.

REIA has advocated for access to superannuation for first-time buyers and also the availability of firsthomebuyer grants for the purchase of existing homes – presently the case in Western Australia and the Northern Territory only.

REIA told the Senate committee its recent roundtable on the issue identified a shortage of housing supply as the main factor which needed to be addressed, with a national approach required.

Despite the increase in first-home buyers taking up housing finance, it is still difficult for many to get a foothold on the property ladder. REIV believes the State Government should offer greater stamp-duty concessions to these buyers.

REIA has also been active on the issue of negative gearing. Its analysis of the impact of the Henry Review recommendation that deductions and

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The Estate Agent ❘ September/October 2014

‘Despite the increase in first-home buyers taking up housing finance, it is still difficult for many to get a foothold on the property ladder’ income associated with rental property should be discounted by 40 per cent shows this would result in rent increases of more than 4 per cent.

It believes negative gearing complements the Federal Government’s goals in relation to the supply of rental accommodation, with almost 1.9 million Australians investing in the residential property market.

We will work closely with the REIA on these national issues, while continuing to progress key state-based issues, especially in relation to licensing of commercial agents, which has been prominent this year.

We will keep you updated on progress against these and other major policy issues over coming months.

CEO Report Enzo Raimondo CEO REIV

Buying momentum continues as battle for online space intensifies Members are now gearing up again for the spring selling season, the most anticipated time of year for both buyers and sellers.

The state shook off the winter blues in what proved to be a strong winter season.

By the end of August more than 24,000 auctions were held across Victoria, with solid clearance rates throughout Melbourne and regional areas. The proportion of sales by auction increased in Melbourne’s outer suburbs and regional centres, though a growing trend towards pre-auction purchases, particularly in Melbourne’s middle ring, indicates determined buyers are willing to stake their claim early.

Wantirna, Aspendale Gardens, Gladstone Park and Dingley Village were among those suburbs that experienced strong pre-auction sales in addition to higher-than-average clearance rates.

Winter’s buoyant market points to the resurgent demand and increasing buyer confidence that has underscored Victoria’s housing sector over the past year – in turn, generating higher sale prices.

The median house price in Melbourne reached $658,000 at the year ending June, and more suburbs in the inner metro area – now 87 – entered the million-dollar median price bracket.

Given this buyer confidence and the enthusiasm of first-time purchasers to gain a foothold in the market, we anticipate the momentum will continue well into the peak spring season.

To help leverage the growth opportunities this time of year presents for our industry, REIV will be holding a free seminar on October 29 that will provide prospective buyers with the essential information they need to consider when purchasing a home.

The event will be open to all members, agents and the general public.

Further details will be provided to members over the coming weeks, including the offer of exclusive early invitations for your clients and prospects.

‘Winter’s buoyant market points to the resurgent demand and increasing buyer confidence that has underscored Victoria’s housing sector over the past year’ You may recall that I wrote to members recently, highlighting our concerns regarding a new REA services agreement for realestate.com.au that was being offered to agents and to recommend members first seek independent legal advice.

The high-pressure selling tactics adopted by REA demonstrate that the battle for the online space has become intense and ruthless.

The fact that many online portals are now attempting to use your valuable data to match buyers with sellers directly underlines the threat these portals present for our industry.

While the full power and reach of the internet should be better harnessed, agents need to be cautious that they are not unnecessarily giving away their intellectual property.

For this reason, we are encouraging members to utilise the services of the industry’s own property search website, realestateVIEW.com.au, which is owned

by REIV members and operates in their interests.

Importantly, realestateVIEW.com.au is an industry-driven site designed to promote the selling needs of agents and protect the integrity of the industry through tailored online tools and competitive fees.

The REIV is currently focusing on two important policy areas leading up to the November state election.

The first, licensing of commercial agents, has been ongoing this year, with the State Government agreeing in May to place on hold an earlier decision to remove agent licensing for large Continued on page 8

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CEO Report

Continued from page 7

commercial transactions. While the Government has agreed to this, there is still some way to go. We want to ensure licensing is retained for large commercial transactions over the longer term – beyond the November election. For this reason, we are seeking a commitment from both the Government and Opposition to the retention of licensing beyond November.

The second issue, Section 55 (4) (b) of the Estate Agents Act 1980, is one that has been highly contentious for our members since its amendment in 2011, imposing significant constraints, financial disincentives and penalties for agents selling properties to parties with whom they have a relationship.

Section 55 as it stands precludes the sale of property by an agent or an agent’s representative to a related party that includes a spouse, domestic partner, child, step child, sibling or parent. The severe restrictions imposed by the legislation were designed to

‘We are seeking a commitment from both the Government and Opposition to the retention of licensing beyond November’ ensure no ‘beneficial interest’ by an agent or agent’s representative in a property transaction with a related party.

However, Section 55 does not allow for appropriate disclosures or consent provided by related parties and can

be prohibitive in ensuring the best interests of the vendor are being met. It also serves to financially disadvantage those agents or representatives acting for related parties by rendering them unable to gain a commission for their efforts.

These restrictions have wide-ranging impacts on the commercial operations of agencies and particularly disadvantage those agents in rural and regional areas, many of whom are the sole licensed practitioner in their town.

REIV has undertaken extensive research and consulted with our members and in the process we have received numerous examples of agents, their employees and clients adversely affected by the Section 55 amendments.

REIV is now preparing a case for legislative change in regard to Section 55, and will be leveraging member input to bring about this change, which will benefit hundreds of members across the state.

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The Estate Agent ❘ September/October 2014

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Bulletin

Young adults finding it harder to leave home They are home – and it’s not just for the holidays. The tight jobs market, university education costs and first-time buyers’ difficulties saving a deposit all have young Australians living longer at mum and dad’s. New British research raises the prospect that this trend will impact on home-buying habits.

In Australia the trend has been welldocumented, including by the Australian Bureau of Statistics which found young adults in 2011 were more likely to be living with one or both of their parents than their counterparts were in 1976. In 2011, about 29 per cent of young adults lived without a partner or child but with one or both of their parents, up from 21 per cent in 1976.

Now the British research has found a fifth of parents who had moved house in the past six months wanted a bigger one because they envisaged their children staying at home until their late-20s.

The survey was conducted by Royal Mail and covered 13,000 people who signed up to its mail-redirection service between October and March.

UK Office for National Statistics figures show 3.3 million people aged 20 to 34 lived with their parents in 2013, the highest number since it started keeping records in 1996.

The Guardian said the research findings revealed widespread concern among parents that their children would struggle to get on the housing ladder.

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The Estate Agent ❘ September/October 2014

Snapping pics with drones could land you in trouble The Civil Aviation Safety Authority (CASA) has warned real estate agents over using small drones to take property photographs.

Terry Farquharson, Acting Director of Aviation Safety, wrote to the REIV and other state institutes about the possible safety risks posed by drones – more correctly described as remotely piloted aircraft.

He said the potential of the new technology for high-definition videos and stills highlighting properties’ unique features meant real estate agents needed to be familiar with the regulations governing their use, which Australia was the first country to regulate.

His letter came after CASA ordered South Australian agency Toop & Toop to ground the drones it was using to take marketing photographs. CASA reportedly told the agency it wasn’t authorised for commercial use of the drones imported from the US. Those wanting to use drones have to obtain either an operator’s certificate – a potentially lengthy process – or use an authorised operator. Also, approval is needed for operating drones in some areas, including over populous areas and in controlled airspace, and an application has to be supported by a safety case.

Toop & Toop managing director Anthony

Toop told journalists the requirements covering drones were prohibitive, but he believed the legislation would catch up with the technology and their use would be allowed.

In his letter to the REIV, Mr Farquharson said the drone regulations limited the height at which they could fly, how visible they must remain, how close they could come to people on the ground, and how far they must be from aerodromes and other aircraft.

He also warned about the privacy implications: “As what is still a very new technological innovation and social phenomena, the implications RPA activities may have for privacy-related property and other laws, over which CASA has no jurisdiction, are not yet fully settled. In this area too, you and your members should take appropriate steps to understand just what may and may not be permissible.”

He suggested agencies wanting to use drones to take photographs should first seek legal advice.

CASA is reviewing the rules governing the use of drones. For more information about the current rules see www.casa.gov.au/rpa

Bulletin

A smart solution to planning problems The Victorian Government has introduced a streamlined process for assessing straightforward planning permit applications, which took effect in September. Changes to the planning and environment regulations are also being made to implement the process, known as VicSmart.

These planning applications are identified in the planning scheme as VicSmart and have a 10-day permit process and no requirement to advertise. Preset information will be submitted with an application to council, with the council chief executive officer or delegate to decide on the application.

When the changes were proposed, some councils expressed concern they would impact on their ability to thoroughly consider applications, with the timeframe too short and councils having no ability to ask for more information.

To be eligible for the process, applications have to meet all the criteria in one of 12 classes. These include some straightforward subdivision applications, minor buildings and works (such as fence construction), tree removal, and display of advertising signs.

Information available at: www.dpcd.vic.gov.au/planning/ theplanningsystem/legislation-and-regulations/vicsmartplanning-assessment-process

Shopping Centre Council continues push against commercial licensing Those agitating for the abolition of licensing requirements for large commercial property transactions continue to press their case, despite the significant risks this poses for consumers and business.

A push by the REIV this year resulted in May’s welcome news that the Victorian Government would be deferring its decision to remove commercial agent licensing for “large transactions” – a move foreshadowed as one of 36 anti-red tape reforms it announced in January.

The proposed change would create a two-tiered licensing system and permit negotiation of commercial leases and sales without a licence under the Estate Agents Act 1980.

REIV Chief Executive Officer Enzo Raimondo warned the proposed amendment exposed buyers and businesses to unacceptable risk.

Unlicensed operators would not be bound by the Estate Agents (Professional Conduct) Regulations 2008 and would not be subject to probity checks or required to maintain an audited trust account.

A key proponent for the removal of

agent licensing, the Shopping Centre Council of Australia, claims licensing is costly and unnecessary, affecting only a small portion of sales.

It argues commercial property owners are forced to send managing agents of large commercial property to undergo training they don’t need because owners offer their own.

Recently, council adviser Milton Cockburn wrote that the real estate agent’s licence is exclusively oriented to residential real estate and teaches

the holder nothing about commercial property work.

This is not the case. REIV’s Commercial and Industrial chapter is committed to a professional real estate industry and accredited, well-run, consistent industry-wide training for all sectors of the industry and every stage of a career in property. Members are also bound by the REIV code of conduct.

Licensed agents undergo extensive training to increase their ability to handle commercial sales, including dealing with contracts, legal and ethical requirements, minimising consumer risk, private treaty sales and conflict management. Many vendors do not have experience with large transactions and using the services of a licensed commercial agent provides a safety net.

Cockburn also said large commercial property owners do not need the protection of Parliament in their business affairs. But payments related to the sale of property are held in trust accounts, offering greater surety for vendors. Without a licensed agent, they are exposed to high financial risk and the potential for unlawful behaviour.

The Estate Agent ❘ September/October 2014

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New Directors

Fresh faces on board for the challenges ahead Four new board members bring enthusiasm and ideas to drive REIV forward

Above: New board member Joseph Walton has negotiated the sale of some of Melbourne’s best-known buildings.

F

our new REIV board members were elected in August after a hotly contested campaign with 12 candidates.

REIV president Neville Sanders said it was an indication of the organisation’s health and the esteem in which it was held by members that so many high-calibre candidates sought to join the board at this crucial time for the profession.

“The new board members bring skill, experience and enthusiasm to the role. I am particularly pleased that they encompass the varied roles performed by our members – residential sales and auctioneering, property management, valuation, and commercial and industrial real estate,” he said.

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The Estate Agent ❘ September/October 2014

Joseph Walton

Success earlier this year in retaining commercial agent licensing – following State Government intervention to remove it for large transactions – is only the beginning of a major policy push for the REIV, according to new board member Joseph Walton. Walton was a key member of the team that negotiated a successful outcome with government, through a mix of direct representation, a major submission, letters to MPs and pressure via the media. But this was merely a case of

“winning the battle not the war”, he says. The issue appears to find new life on a consistent basis and, as a result, there needs to be continued pressure on government to recognise the importance of the current real estate licensing regime for all property transactions, in addition to a range of other key policy measures.

“It’s been a great challenge this year, and will continue in future years.

Therefore, it’s critical that we retain a high profile within government,” he says. “We need to leverage the support

‘We need to leverage support from all our members, including key representatives who have connections with MPs up to the most senior politicians’ – Joseph Walton

Oc, New opo Directors

‘We need to approach the online side of the business very aggressively’

from all our members, including key representatives who have connections with MPs up to the most senior politicians from a state and federal perspective. In this way, we’ll be a powerhouse in political lobbying.”

He says there are currently, and will always be, other industries that “want to step into our space” – many of which are seeking deregulation as a means to entry.

Walton has been a commercial agent for more than a decade and, as a director of boutique agency Allard Shelton since 2008, specialises in the sale of retail and commercial investment grade assets. Walton has been involved in negotiating the sales of some of Melbourne’s best-known buildings and recently oversaw the sale of the Block Arcade in the CBD, which gained extensive coverage in trade media and across national newspapers.

He sees a range of other requirements for the REIV over coming years, including the introduction of more specialised training for commercial agents. Through such an initiative, Walton’s key goal is to lift member engagement and attendance at major member events. This is vital, especially if the REIV is to continue to attract and retain younger members, he says. “As a member organisation, we need to grow beyond a one dimensional fellowship model and significantly improve our training offering.”

A further area of focus will be the online member portal, realestateVIEW.com.au and its sibling site, commercialVIEW.com.au. Both sites have competitors and need to be nurtured – and continue to gain support from members – during a challenging time.

“We need to look at all aspects regarding the challenge from the existing competitive landscape,

Above: Geoff White

moving members’ perceptions of our digital offering and channelling their support,” Walton says. “If we do this well – as with training and political lobbying – we’ll remain incredibly relevant to members and be able to continue to forge a strong future.”

Geoff White

REIV must raise the educational and professional standards of the state’s real estate agents to counter poor public perception of the profession and the challenge from online real estate portals, Geoff White believes.

A former REIV board member and president from 2003-2004, he has returned to the board after a sevenyear hiatus – although he remained a member of six committees and divisions, including chairing the auction chapter committee.

White says REIV has a major role to play in lifting standards.

“I also believe we need to approach the online side of the business very aggressively. I was previously chair of realestateVIEW.com.au and hope to contribute at that level so we are not at the mercy of the others in the online spaces,” he says.

– Geoff White

White believes agents’ negotiating skills mean they will continue to be crucial in the real estate transaction. But he says, “public respect for the agent is waning. I think if we recognise that, but look at our educational standards, we may start to get more public credibility.

“I don’t want to see a lot of parttimers in real estate as in the US, where cab drivers are selling real estate on the side. There is a bit of a battle ahead of us but I think our relevance will still be there, providing we upskill our people on the ground.”

For White, 48, who just celebrated 30 years in the industry, it is a time of change. He and his wife Susan have downsized from a four-bedroom home to a two-bedroom Docklands apartment and in early September he became manager with Lucas Real Estate Yarra’s Edge branch – working out of the building in which he lives. His remit is to build and recruit the sales team.

A fifth-generation agent – his great, great grandfather started an agency in Fitzroy in 1888 – he was most recently real estate manager for Elders in Victoria and Tasmania. He says of his new challenge: “This is more real estate at the grassroots.”

Leah Calnan

Property management – that’s the girls on the front desk handing out keys, right? Wrong, says Leah Calnan.

“Property management has been such an unrecognised career for my entire career,” she says.

So determined is Calnan after 20 years in property management to change that image, she stood for the REIV board. She aims to boost not only the perception of property management, but training and standards.

“I have built my profile over that Continued on page 14

The Estate Agent ❘ September/October 2014

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New Directors

Continued from page 13

time and, being on the board, I want to encourage other people working in property management to see it as a career and encourage other females to see it as a career,” she says. “It does not have to be a stepping stone into sales any more, which is the perception out there.”

Calnan, owner and director of Surrey Hills-based Metro Property Management, with 2000 properties across the city under management, says property management staff do not receive sufficient training and many directors do not see the need to train those staff.

“Also, as an industry, we have such a poor reputation, someone has to say, ‘Things have to change’.”

Calnan has long been active in the REIV, including chairing the property management chapter, property management training and co-ordinating knowledge network events. She sees scope for the public, buyers in particular, to realise the benefits of membership, including the training and standards it requires.

“If you have two standards – members and non-members – the public will start to see the difference.

At the moment they compare one agent with another and don’t take into account skills and experience and training, just fees.”

Calnan is the mother of three boys, nine-year-old twins and a sevenyear-old. Her downtime is spent with them and her husband. Used to a male-dominated environment at home and at previous agencies – her own 26-member team is now all female – she is undeterred by being the only woman on the REIV board.

And she is excited about the opportunity: “I can’t whinge about the 14

The Estate Agent ❘ September/October 2014

Above: New REIV board members Leah Calnan and Gavan Lethlean.

industry unless I am prepared to do something about it.”

Gavan Lethlean

Rapid changes in technology and the threat posed by the major real estate portals with their virtually unlimited funding are major challenges facing REIV, returning board member Gavan Lethlean believes.

After serving two three-year terms, Lethlean stood for re-election to provide continuity after the retirement of a former president and two vice presidents.

He is concerned for the future of the industry, given the challenge posed by the online portals. He says REIV’s own portal (realestateVIEW.com.au) needs capital and member support to meet this challenge, with only about half the REIV membership subscribing to it, despite it being 63 per cent owned by REIV members.

“Were existing and non-subscribing REIV members to create and promote public awareness of the REV (realestateVIEW.com.au) brand, REV would be able to compete on more even terms,” Lethlean said.

“REA (owner of realestate.com.au) would not have the monopolistic advantage that it currently holds, as

recently demonstrated in its ability to excessively increase its fee structure.”

This promotion should be done through office signage, stationery and boards, for example. But members must start actively promoting REV in their marketing schedules and stop being the unpaid sales force for REA, he believes.

Lethlean, a licensed agent and valuer, owns Camberwell Road-based Lethlean Property, his long-standing commercial valuation and management company. He is a member of three REIV committees and two chapters.

A father of four adult children, he and his wife Carol live in a Glen Iris townhouse and have a small cottage at Rye where they spend time with children and grandchildren, although that time is restricted by his commitment to the REIV board.

Lethlean believes successful communication with agents is crucial for REIV, yet the constant stream of emails faced by agents can make it difficult to get its message across. Consolidation of its software means it should now be possible to communicate information specifically relevant to individual members – an improvement he is committed to implementing in the coming year.

‘As an industry we have such a poor reputation, someone has to say, “Things have to change”’

– Leah Calnan

Profile

Wealth of experience from unexpected beginnings Helen Morrison’s unique industry perspective comes from decades at the helm of a regional practice

W

hen Helen Morrison’s much-loved brother Graeme died suddenly aged 47 at a sheep sale, she found herself not only grieving for her brother and best mate, but catapulted into the role of principal of the family stock and real estate agency in Hamilton.

“I suddenly became principal without wanting it or having any background experience. We had five employees; you have a responsibility and it was our way of life,” says Morrison, who had worked with her brother for more than a decade.

“We are the longest-serving independent stock and station agents in the Western District.”

That was in 1995. Fast-forward almost 20 years and Morrison, now 62, is the longest-serving woman principal in a regional area and has no plans to retire – though husband David fancies more time for fishing. A social science graduate, he was a fisherman on an abalone boat who joined her in the firm after they married.

Lanyon’s Real Estate was set up by Morrison’s father Keith in 1966. She left Hamilton to train as a teacher at La Trobe University and taught in Horsham for four years. But when the regimented teaching life didn’t suit, her father suggested she take over from his departing real estate salesman.

Morrison worked with her father and brother while studying for her licence by correspondence.

“In 1983 I got my licence and almost the day I got it Dad retired from the business because he had not been well.

I did not know I would be doing it quite so soon.”

Back then there were few women in real estate, especially in country towns, but Morrison has a no-nonsense

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The Estate Agent ❘ September/October 2014

Above: Helen Morrison took over Lanyon’s Real Estate in Hamilton in 1995.

attitude and didn’t let that stand in her way. “People would walk in the door and say, ‘Can I see the real estate man, can I see the sales man?’.

“For the first five years, being a woman – the only woman in Hamilton and for a reasonable distance round – it was a bit unusual,” she says. “It didn’t bother me.”

Did it bother the men? “They got over it.”

Morrison, who has two children – Jess, 26, and Oscar, 23 – believes women should be able to do whatever they want and has instilled that in her daughter. “I do things because I want to do them,” she says.

She mostly sells homes in and around Hamilton, loves the town and her work.

“It’s a beautiful place, God’s own country here,” she says.

And with the pace slower than in Melbourne, those work-life pressures many city agents face don’t trouble her.

In fact, she wonders why EA is interested in her: “We have only got a small business here, compared to Melbourne agencies,” she says.

But Morrison has seen good times and bad in the industry and has useful advice for those planning a real estate career.

“Firstly, honesty has to be your guiding principle in business. To sell real estate, you should have a little bit of age and life experience,” she says.

“You are dealing with people who are making the biggest financial decision of their lives when they purchase their first home. Therefore, I don’t think you want an 18-year-old trying to make a quick buck by selling you the first house they can sell you.

“I don’t think it is preferable to go into real estate straight from school.

People need to have lived in a few different places, have earned money doing a few other things before they start trying to advise people how to spend theirs.”

Morrison is also a licensed auctioneer, though she leaves most of the auctioneering to the agency’s specialist Warren Clark, a partner in the agency with his wife, Ann, who manages its 300-strong rent roll.

A believer in continuing education, Morrison sees possibilities for the REIV to make greater use of the internet for continuing education for country agents.

She also advises against high-pressure sales tactics: “If there is one thing I have learned in real estate, it is you cannot talk someone into a house; people will buy a house because of the gut feeling. No matter how good it is, you will not make it right for them if they don’t have the right feeling in the first place.”

And Morrison understands that peaks don’t last forever. When Iluka Resources began building its mineral separation plant in Hamilton in 2000, the town’s

Profile

population grew by 500, with many looking to buy or rent. After increasing 1 to 2 per cent a year for many years, property prices suddenly doubled or even tripled.

A house Morrison’s agency had sold four times between 1980 and 2000, the sale price having climbed from $18,000 to $27,000 in that period, sold again in 2001 for $97,000.

“All the little weatherboard houses we had rented out forever suddenly went up to $150,000,” she says. “We said to people, ‘It is only a glitch in the line’, but nobody believed us. They started building units and flats and houses.

“One day about four years later, 500 people left Hamilton almost in one day.

They finished building the plant and now there are not so many working there.”

Hamilton is unlike those regional centres attracting tree-changers and sea-changers, particularly those commuting the distance to Melbourne.

“We have fantastic schooling and medical facilities, but we don’t have

enough jobs for people to come to,” Morrison says.

So while the hospital provides some market turnover, it is not as rapid as in Melbourne or some regional centres.

“It is not nearly as busy and we have to work hard (for a sale),” she says.

‘Honesty has to be your guiding principle in business … You are dealing with people who are making the biggest financial decision of their lives’ “In a small town you make less money because you sell cheaper properties and fewer of them, so it is harder.”

There is also more competition in Hamilton, with new agencies established and agents hired during the demand from the mine company workers.

Not that she is complaining: “I am quite happy in my life,” says Morrison who, with her husband, sings in a

community choir, Footprints in the Custard – the name dreamt up in the pub by the founder. In alternate years the 30-strong group puts on a concert or show – this year, The Pirates of Penzance. They have sung at festivals in Tasmania and Bendigo.

She enjoys practical things, and even says she is fairly handy with a hammer.

“I would rather be doing something than nothing,” she says.

But in Hamilton that doesn’t mean 24/7 real estate. It’s not just the pace that is different – business is done differently in the country too, with a handshake, even now, often as important as a signature.

“I have been in real estate for 34 years and have only once given an offer in writing,” Morrison says.

“You know most of the people you deal with, or get to know them quite quickly, as it’s a town of 9000 residents.

You don’t know everybody but you know most of them.

“It is a different business in the country. It is just as important, but it is a different business.”

The Estate Agent ❘ September/October 2014

17

Tree Change

Tree-changers leaving the city behind Influx of new clients drives changes to regional prices, market demand and agents’ work

T

welve years ago, when John FitzGerald moved from Melbourne commercial real estate to Trentham, it was a small, pleasant town with a weekenders’ market and homes dependent on septic tanks.

Then came the sewerage system and, more recently, the baby boomers – “hill-changers” as they are called locally – leveraging their superannuation to follow their dream of a life outside the city.

“The whole market has been driven by middle-class baby boomers and there is probably another 10 years of that ahead of us,” says FitzGerald, principal of FitzGerald Property.

In the five years to June 30 Trentham’s median rose 47.2 per cent – from $265,000 to $390,000.

About an hour from Melbourne and from the three main regional centres of Geelong, Ballarat and Bendigo, it offers not only the possibility of commuting but proximity to grandchildren and medical facilities in the city, FitzGerald says.

Its lively arts scene coupled with cafes and restaurants, including the noted Trentham Bakery, helps.

“When baby boomers move out of town they don’t want to give up everything, so the fact we have got a bit of an arty thing happening here, and good restaurants and cafes – people are

18

The Estate Agent ❘ September/October 2014

in their comfort zone,” FitzGerald says.

“In a place like Trentham, there is really no ‘us and them’.”

Tree-changers and sea-changers – Melburnians seeking a more relaxed lifestyle near the coast or in the country – are redefining the property market in many Victorian regional centres and small towns, particularly those with commuter links to Melbourne.

Tree-changers and sea-changers are redefining the property market in many Victorian regional centres and small towns In Castlemaine the five-year median house price increase was 49 per cent, up from $255,000 to $380,000. Rob Waller of Castlemaine’s Waller Realty says the price of properties previously on “the wrong side of the tracks” – areas west of the railway, whereas the town’s “golden streets” were east – has been driven up.

“The land value is the same as the golden streets simply because it is within a kilometre of the train station.

Previously the difference would have been 50 per cent less in terms of land value.”

Hocking Stuart Ballarat director Tony Douglass says there, too, the

market in areas close to the station, such as Soldiers Hill, has been driven by commuters – professionals with children attracted by the cheaper period homes and excellent local schools with fees lower than in Melbourne.

The median house price for Soldiers Hill rose by 49 per cent in the five years to June 30 – from $223,250 to $332,000. Douglass says there has also been price growth for top-end houses near Lake Wendouree, where a home recently sold for $2.8 million.

Areas near the new Wendouree station are being marketed to Melbourne – Lake Gardens, near the station, lake and golf course, for example.

“Definitely the strength of the market has been buoyed in the past four to five years,” Douglass says.

He joined Hocking Stuart in 2005, “based on the fact Melbourne people were coming to Ballarat. We felt it was a way to capture the Melbourne market.

“The buyer base has changed significantly. I don’t think Ballarat was really on the radar when I started,” says Douglass, also a director of the agency’s Daylesford office where market strength closely follows Melbourne’s. In Daylesford the five-year median price rise was 18.2 per cent.

In Trentham, the desire of incoming

Oc, Tree opo Change

Daryl Wisely Robert Blackburn Mark Chew

Peter Dunphy

Country living: Clockwise from above, Bendigo Central, Lake Wendouree, Birregurra, and dining in Daylesford.

residents to build new, energy-efficient homes has meant a subdivision boom, FitzGerald says. Now there is pressure to preserve arable land, whereas in Kyneton, with the lure of the trendy Piper St cafe and shopping strip, there is the opposite problem.

“People are happy to build if they cannot find what they want but there are strict zoning restrictions, which are a big factor,” Jan McColl of McColl Property says. “The new estates here are not what Melbourne people want to buy. They want five, 10, 20 acres – there is a crying need for those sorts of parcels of land.

“There is a great need for people to look at rezoning and the availability of land.”

Kyneton’s median house price rose by a whopping 65 per cent, from $275,000 to $455,000, in the five years to June 30.

McColl says: “You used to be able to get a miner’s cottage for about $200,000, (in 2011) it jumped up about $100,000 within six months.”

At a recent auction a renovator’s delight went for $380,000, sold to a buyer from Brunswick who said a

similar property there would have been nudging $800,000.

Affordability is as much a factor as lifestyle, Bendigo-based Tweed Sutherland director Matt Leonard says. His clientele is increasingly diverse: Melburnians from outer suburbs; investors attracted by the low rental vacancy rate (1.5 per cent for his agency’s rent roll); commuters

four-bedroom home in a relatively new subdivision; it could be an inner-city townhouse.”

This new breed of client has not only impacted property prices and market demand, it has changed the way some agents work. In Kyneton, for example, McColl offers Saturday open-forinspections because Melbourne buyers expect it.

‘Once upon a time tree-change equalled retiree. Now it is also the young families looking for lifestyle and middle-aged couples’ – Matt Leonard who can buy a family home for $400,000 in a thriving community with excellent, affordable schools; and professionals.

“Once upon a time tree-change equalled retiree,” Leonard says. “Now it is also the young families looking for lifestyle and middle-aged couples.

“Affordability has a lot to do with it, but you have to have the facilities and amenities that the city has. Bendigo has become more cultured with fantastic cafes and restaurants. The classic tree-change was a rural lifestyle property. Now it could mean a new

“They are so conditioned by the Melbourne market they don’t feel they can look at a property unless it is open for inspection. They arrange their Saturday around open-for-inspections.”

McColl says they come armed with information – although it is not always correct. So agents are educators about the area.

“I find they don’t necessarily want to do a lot of renovation, they like drinking coffee, they probably have a much more relaxed lifestyle than we do, are very social,” she says.

Continued on page 20

The Estate Agent ❘ September/October 2014

19

Tree Change

Continued from page 19

“They are community minded. But sometimes they are coming for the perfect home and they don’t necessarily find it. So we try to help them get a foothold in the market.”

“There are young professional couples from suburbs like Brunswick, Northcote, Collingwood, Fairfield.

A fantastic cohort of young people in their 30s and 40s have moved up here; they are dynamic in the town, involved in the school. A number have opened businesses here.”

McColl is also consulted by grandparents downsizing and moving close to their children. “Anything over $1 million is fairly hard to get; those properties are very well held.”

But not all the new arrivals are direct from Melbourne. Lynne Cole, Colac to Coast Real Estate principal, says her city client numbers have increased, particularly baby boomers and empty nesters, but so have those from the

‘A fantastic cohort of young people in their 30s and 40s have moved up here; they are dynamic in the town, involved in the school. A number have opened businesses here’ – Jan McColl, Kyneton Bellarine Peninsula and Surf Coast.

With prices in those areas taking off, they feel there is better value further inland.

“They have quite a bit of cash, they are looking for a more relaxed lifestyle, and they are prepared to pay upperend,” Cole says.

Birregurra, with a lively arts scene and proximity to the upmarket Brae restaurant, has become a “hot spot” for these buyers because of the train access to Melbourne. So she is dealing with more professionals.

“We tend to see the Birregurra tree-

change type of people, they will look at a property three to four times before they make a decision. They go to local restaurants and get information from the locals,” she says.

“Property prices have definitely increased, there is no doubt,” Cole says.

“We often sold properties in the high 400s, now we are seeing properties above $500,000M.” Properties are also being bought for subdivision, particularly in the two years since Birregurra gained a sewerage system.

But while the clients and their demands are changing for many of these regional agents, Bendigo’s Matt Leonard says, at heart, the work is basically the same: “It really just comes back to good old-fashioned real estate.

Get to know your client, find out what they are looking for and spend the time to ask why they want to move here.”

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The Estate Agent ❘ September/October 2014

BDH BDHSOLUTIONS SOLUTIONS SOLUTIONS ROSS ROSSHEDDITCH HEDDITCH ROSS HEDDITCH

Online Oc, opoMarketing

Time for agents to ‘regain control’ of online space Real estate websites are hot property and it’s time for members to stake their claim

R

eal estate agents’ relationships with vendors are being threatened by the war for their advertising and data, waged by the major online property portals.

REIV chief executive officer Enzo Raimondo and realestateVIEW.com.au general manager Petra Sprekos have warned the battle for the online space has become intense and ruthless, with competitors using high-pressure sales tactics.

Raimondo recently wrote to members, highlighting REIV concerns about the new REA services agreement for realestate.com.au, and recommended agents seek independent legal advice before signing. This followed queries from members as to whether the agreement, involving payment of fees for services including provision of data, breached legislation.

Majority-owned by REIV, realestateVIEW.com.au is the only portal dedicated to helping agents maintain control of advertising costs through competition and cost-effective marketing solutions.

As Raimondo points out, “realestateVIEW.com.au is committed to its mission of supporting, enhancing and protecting the role of estate agents as the only experts in property transactions”.

Although the third-largest major portal, realestateVIEW.com.au is within striking distance of its major competitors and, with industry support, could overtake them, Sprekos believes.

In July and August, Sprekos and

the realestateVIEW.com.au team hosted 10 road shows throughout Victoria, including the Mornington Peninsula and key regional centres such as Ballarat, Bendigo and Gippsland. Almost 500 agents attended, strengthening their ties with realestateVIEW.com.au.

Sprekos says the aim was to explain what realestateVIEW.com.au can offer to agents and how it is aligned to their needs. “This is an industry-owned and controlled portal that operates in the best interests of agents.”

Raimondo says the key piece of take

‘Agents obtain the listing, agents own the data. Together we can educate the market and drive the agenda’

– Petra Sprekos

home advice from each road show event was for agents to co-brand their marketing materials with realestateVIEW.com.au.

“Together, realestateVIEW.com.au and agents can regain control over the way property is marketed, while protecting the integrity of the real estate profession.”

Some agents don’t realise a large component of the realestateVIEW.com.au audience is unique, Sprekos says – that is, buyers who visit the site but do not visit domain or realestate.com.au.

With the same industry ownership as propertydata.com.au, it has a huge pool of accurate data, both contemporary and historic, at its disposal and available to value-add for both vendors and buyers.

“Agents create the buyer and seller relationship,” Sprekos says. “Agents obtain the listing, agents own the data.

Together we can educate the market and drive the agenda.”

Raimondo recently warned that unless agents develop an internet strategy, the real estate industry could suffer the fate of the travel industry, where middlemen have been removed from transactions.

“Some online portals are now attempting to use agents’ own data to match buyers with sellers directly, undermining the agents’ role,” he says.

Sprekos says agents are under threat and need to fight back rather than wait to be marginalised. Portals which go directly to vendors are putting agents last and reducing their role to that of “key turners”.

Sprekos says realestateVIEW.com.au offers a true industry partnership.

“Our competitive advantage is our link to the industry: agents hold the key to all listings and content.”

The Estate Agent ❘ September/October 2014

21

Cover Story

22

The Estate Agent â?˜ September/October 2014

Oc, opo Cover Story Different direction: Left, Denis Pagan is succeeding in real estate after years as an AFL player and coach.

Kicking on to reach new goals Career change agents bring lessons from another life to property sales

A

s former AFL coach Denis Pagan knows, in football – as in real estate – you’re only as good as your last success.

Another great asset to succeed as an estate agent is to be flexible and adaptable, and it’s these two traits which have served Pagan so well over the years. They have enabled him, and hundreds of other estate agents across Victoria, to switch careers – moving to real estate from very different occupations.

For Pagan, and many others, beginning their property career as an agent has been a dramatic remaking. It meant turning their backs on another life, on jobs as varied as sportsperson, journalist, lawyer, hairdresser or police officer to build that new career.

But all say they brought with them skills and life experience which made them better agents. And with the oldest student on REIV’s agent’s representative course aged 80, it is never too late.

EA asked five agents about their other lives and the lessons they brought with them.

Shayne Mooney

Now: Sales consultant, Nelson Alexander North Carlton Then: Radio and television journalist

So keen was Mooney (right) to work in radio, he used school-holiday jobs to finance a radio announcing course he

started at 14, travelling from Morwell to Melbourne for classes, despite his dad’s opposition.

It paid dividends – well, small ones.

When he left school at 17 he was hired as an announcer by 3UL (now 3GG) in Warragul. He worked six nights a week, on air for 36 hours of his 40 hours. His pay was $18 a week.

For Mooney, this launched a successful radio and TV career, from country radio stations to Melbourne’s 3AK in 1973, then to TV channels 10, 9 and SBS.

The communication and people skills learned there helped him become a successful agent, he says: “One of the main things you have to do is make an impression quickly. Suddenly, you are introduced to someone – gaining trust and being totally transparent are things I was able to bring.

“I found I was able to speak to people at all different levels, anything from the prime minister to a wellknown artist to someone on the street.

Continued page 24

‘One of the main things you have to do is make an impression quickly … gaining trust and being totally transparent are things I was able to bring’ – Shayne Mooney

“I joined Channel 10 for the launch of the hour news in the late 1970s.

Then, after three years or so, I went to Channel 9. I then became bureau chief when SBS established (a Melbourne bureau). I worked on documentaries, news and current affairs programs.”

Mooney read the news on Good Morning Australia, covered the UN in Cambodia after the fall of Pol Pot, led bulletins in London with his Ash Wednesday bushfires reports, made a documentary about Palm Island and won international awards.

The Estate Agent ❘ September/October 2014

23

Cover Story Fairfax Images, photo by Wayne Taylor

Continued from page 23

“You are also dealing with a wide variety of people. I am able to sum up people pretty quickly and that helps in listing situations and I’m able to find out what people want and need.”

But it was not a completely smooth transition from media to real estate – Mooney had a pub stop.

After leaving SBS following a restructure, he started media training and crisis management. He also bought – and saved – a derelict North Fitzroy hotel, once Lord Jim’s, now the North Fitzroy Star, on St Georges Rd, rebranding it as Marianna’s.

“But the business was hard going, it was difficult times. We were hard hit by the opening of the casino,” he says.

So he sold, with the selling agent Arch Staver, now Nelson Alexander sales director, suggesting he join the firm.

Mooney, with Nelson Alexander for 16 years, realised it was an opportunity that would suit. He undertook the agent’s representative course and later qualified for his licence.

He left the media knowing there was no going back: “It was a big decision for me to go into real estate because I knew when I turned my back on television I could not go back, and I knew people in the industry would be looking at me, thinking I failed.”

Now, though, with hundreds of journalists having been made redundant, it’s a different story: “Many of them look at me and wish they made the change themselves,” Mooney says.

Denis Pagan

Now: Director, Stockdale & Leggo Essendon Then: AFL player and premiership coach

To many North Melbourne fans, the dual premiership coach remains a legend. How then to make the adjustment to local real estate agent?

It has not been easy. The adjustment hasn’t been a problem for Pagan – he loves his new job – but it has for the fans: “The biggest problem I have is people still think I am a football coach.

I have to work at it to be perceived as a real estate agent,” he says.

But there is an upside: “People still want to talk to me.”

24

The Estate Agent ❘ September/October 2014

‘Working with people, it is about trust, integrity, people management … I enjoy the challenge of it; it’s not an easy business. Persistence and perseverance means no failure. I like doing what I’m doing’ – Denis Pagan Pagan, 66, went into real estate five years ago, doing his Certificate IV in Property Services (real estate) at REIV and taking over Stockdale & Leggo Essendon with his son Ryan.

He wants it to be an enduring family company, perhaps a career for his grandchildren.

Pagan played 120 games for North Melbourne and 23 for South Melbourne, then coached North to premierships in 1996 and 1999. He left to become Carlton’s senior coach at the end of 2002, but parted ways with the club after the 2006 season.

Pagan then ran his own teambuilding, personal development and leadership training business. But he tired of the travel and son Ryan, in real estate for 12 years, was urging him to join him. So both became licensed and now head a 15-person team.

Pagan was an insurance inspector before professional football and back then he visited a fourth-generation real estate agency in Melbourne’s west. That experience motivates him today.

“I called on Jas Stephens, run by Alan Stephens, father of Craig. I have used that as an inspiration, I hope we can do that,” he says.

Real estate attracts elite sportspeople and Pagan says skills honed as a player and coach serve him well.

“Working with people, it is about trust, integrity, people management –

the same things apply,” he says, adding determination and persistence had seen him through playing and coaching, and now into real estate.

“I don’t want to sit home, I enjoy the challenge of it; it’s not an easy business.

Persistence and perseverance means no failure.”

As for retirement, it is a word he won’t hear: “I like doing what I’m doing. If you sit home and become idle it doesn’t do you any good.”

Dionne Wilson

Now: Director, Harcourts City Residential

Then: All-night hotdog stand operator and award-winning scooter salesperson

When Dionne Wilson’s elderly customers ran over her feet trying out motorised scooters, occasionally breaking her toes, she smiled through the pain and said she was fine. It was, she says, ideal training for a real estate career.

“Also, taking $4000 – with many buyers on a pension – is a huge transaction. I learned lots of patience and time is invested in making sure they were comfortable with what they were buying,” she says.

These lessons, invaluable in Wilson’s 17 years in real estate, were learnt at a pharmacy in her home town of Shepparton, where her knack for selling

Oc, opo Cover Story

‘I learned lots of patience and time is invested in making sure they were comfortable with what they were buying’ – Dionne Wilson led to a Dealer of the Year award for her scooter sales.

By then her entrepreneurial streak was evident. After her day at the pharmacy and an evening pizza-making, a friend needed help in her overnight hotdog van. Wilson, spotting an opportunity, agreed – on condition she work every Friday and Saturday night.

“I had to work one night without cheese. If you have ever worked with a lot of drunk people at 5am, it is criminal not to have cheese. I took over the ordering; not long after I bought the van,” she says.

The cost of producing one hotdog, including rent and insurance was 50c; the retail price was $3.50. It’s little wonder she bought her first house (in Northcote) at 21.

Wilson owned the van for seven years, subcontracting when she moved to Melbourne at 21 to take the agent’s representative course. And it was the hotdog van and scooter sales which led her to real estate.

She towed it to a local bachelors and spinsters ball in a paddock and lined up 600 hotdogs. When a guy doing

On the move: Dionne Wilson honed her sales skills by selling hot dogs and motorised scooters.

burnouts in his ute spun towards the van, leaned out and ordered, “10 with the lot”, she was rolling. “We sold out,” she says.

When her father, then general manager at SPC, heard of her success, he suggested she sell cars.

“I thought, I’d rather do houses,” she says.

Told by a local agency that after five years on reception, then five in property management, she might make the sales team, she left for Melbourne.

At the end of her course came her first agency job, selling Collingwood and Fitzroy warehouse conversions for KP Smyth.

After two years travelling, then trying other jobs, Wilson went into property management with Caine Real Estate to learn all aspects of the business, then into sales.

In May 2009, in the middle of the global financial crisis, she opened the Harcourts city franchise.

“Everyone told me I was nuts,” she says. But it was a time of substantial first home-owner incentives and the hotdog van experience helped her hold her nerve.

“It gave me a taste for the entrepreneurial side of myself,” she says.

Can’t beat it: Former sergeant Juanita Kelly shifted into real estate after realising she couldn’t achieve her life goals with Victoria Police.

Juanita Kelly

Now: Director, Woodards Elsternwick

Then: Victoria Police sergeant

Locking up murderers may seem a world away from helping buyers find their dream home.

But for Kelly, who got a Victoria Police Chief Commissioner’s commendation for exceptional diligence in a murder investigation, 17 years in the police force prepared her with the life skills for real estate.

“I got in with life experience behind me, a bit of knowledge of people,” she says, crediting the force with honing her people and negotiation skills and developing her ethics.

Kelly, who started with Gary Peer in 1996 then moved to Woodards 10 years Continued on page 26

The Estate Agent ❘ September/October 2014

25

Cover Story Photo below Fairfax Images by John Donegan

Fits like a glove: Kate Strickland turned to real estate after an international sporting career.

Continued from page 25

later, started work in a Canberra bank but disliked it. Her grandfather and great-grandfather were police officers, so it appealed when her mother suggested she join.

After graduating from the Victoria Police Academy, she started on the beat in Doncaster, then worked in uniform and plainclothes roles, including the homicide and sexual offences squads.

Kelly was commended for her investigation of a rape suspect, which led to him being charged with two murders, and she worked undercover with New South Wales drug squad detectives.

“I was doing undercover work on observation posts in Sydney with listening devices, and was out in the middle of Sydney and having to covertly follow people. I was strapped up with an earpiece,” she says.

Real estate may seem tame by comparison, but not to Kelly.

“It (police work) is satisfying, it is 26

The Estate Agent ❘ September/October 2014

exciting, but you cannot keep doing the same thing the whole time. Progressing in the police force meant coming off the front line and getting involved in the bureaucracy and the management.”

When promotion to senior sergeant loomed, she was sent on a course where she realised her life goals were completely different to those of Victoria Police.

‘Everyone has always said I could sell ice to Eskimos; I’ve got good people skills and I work through things. I understand different people need to be treated in different ways’ – Juanita Kelly When an agent was selling her and her police officer husband a property, the couple discussed the possibility

of a real estate career. “Everyone has always said I could sell ice to Eskimos; I’ve got good people skills and I work through things,” she says. “I understand different people need to be treated in different ways.”

So she took long-service leave to do the agent’s representative course at REIV. Gary Peer in Caulfield followed, then REIV’s Certificate IV and success as the agency’s top sales agent.

Kelly sees another similarity between real estate and police work: questions at parties. If you’re in real estate, people want to know what they can get for their house; if you’re a cop, they want to know how to get off paying their fines.

Kate Strickland Now: Director, Marshall White Brighton

Then: Australian Institute of Sport athlete and international softball representative

Oc, opo Cover Story

‘I think real estate is very similar to sport in terms of your work ethic and dedication; it is never a job, it is who you are – and that is the same as being an athlete’ – Kate Strickland Strickland knows all about taking one for the team. Having played softball for Australia 143 times and captaining the Victorian team, she is no stranger to the demands and compromises that come with teamwork.

“I think real estate is very similar to sport in terms of your work ethic and dedication; it is never a job, it is who you are – and that is the same as being an athlete. It is all-consuming, every minute of every day, and so is real estate – but it pays a lot better,” she says.

“I always had a leadership role.

That communication is really important and just the confidence you get, not having to fear because as an athlete you don’t give anybody an option not to

be the best, and I take that attribute to selling.”

Strickland, who opened Marshall White in Brighton with business partner Barb Gregory in 2011, says real estate is tough.

“It is not always amazing. Markets change, you are a hero one day and the next someone feels you have let them down,” she says.

It is much like losing at sport: “One day you’re winning, next day your coach is not speaking to you because you made a mistake and lost,” she says.

“Athletes and sportspeople make exceptional agents, especially teamsport athletes,” Strickland says.

“Being an agent, it is not about you, it is about a vendor and buyer; a team

athlete always wants it to be about the team.”

With a Bachelor of Communications from Monash University, Strickland (nee Quigley) went into real estate in 2008 – also the year she married Rob Strickland, who joined her at Marshall White.

She had bought properties and helped family and friends with property purchases.

“It never felt like work, it just felt like I was home. Softball also felt like home, wherever I was in the world and put on my glove.”

Strickland worked out at the same gym as the Collingwood Football Club and told former player Shane Wakelin she had enrolled for REIV’s agent’s representative course. An introduction to his friend at Hocking Stuart Brighton and she was on her way, spending three months working alongside Gregory, “learning, listening and watching”.

Within five years she was a director.

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The Estate Agent ❘ September/October 2014

27

Market Update

Market stays hot in winter Reflecting the strength of the Melbourne market, the number of homes sold before auction reached its highest level in four years

T

28

The Estate Agent ❘ September/October 2014

xxxx

he winter selling season, traditionally the slowest in the Victorian property year, maintained the momentum built up during the bumper autumn.

By the end of August, more than 24,000 auctions had been held across the state and 87 suburbs within 10km of Melbourne’s CBD had joined the million-dollar median club.

On December 31, the median price for inner Melbourne was less than $1 million, but by March it was $1,014,500. By the end of June, it was $1,027,500 – another record in the city’s biggest property boom.

By August 10, there had been 21,769 auctions held in Victoria with a clearance rate of 71 per cent. This was up on the 17,085 at the same time last year (with the same clearance rate) and a big increase on the 14,609 in 2012.

Topping the list with the most auctions was the huge northern suburb of Reservoir with 357, followed by in-demand Richmond, South Yarra and St Kilda. Fifth on the list was Preston – like Reservoir, benefiting from the high prices in neighbouring suburbs such as Fitzroy North, Northcote and Brunswick, with those priced out moving further north.

With Melbourne’s median house price at $658,000 at the end of the financial year, this move to neighbouring, more affordable suburbs was a trend evident in those with the highest clearance rates – Ashwood, Ashburton, Wantirna and Vermont South, all with rates of more than 90 per cent. Ringwood East, Box Hill South, Watsonia and Moorabbin had rates of 88 per cent to 89 per cent.

In a strong auction market, every seller’s ideal is a hot contest at auction.

Clearly, for a seller to accept an offer before auction it usually means it is too

good to refuse. A further indicator of the strength of the Melbourne market has been the increase in the number of homes sold before auction – about 14 per cent this year.

That is up 1 per cent on last year and is the highest rate for four years, although not yet at the 21 per cent of 2007 when the market was running hot.

The suburbs with the highest share of homes sold before auction also reflect recent trends in price movements – inner suburbs becoming increasingly unaffordable to buyers on a budget who move their search to the middle ring.

This has meant intense competition for suburbs with good transport links, facilities such as schools and parks, and

with convenient access to the city.

Wantirna had the most homes sold before auction in the year – 41 per cent from 64 auctions. Wantirna South was next on the list with 33 per cent from 51 auctions. Also on the list were Aspendale Gardens, Newport, Gladstone Park, Balaclava and Dingley Village. Most of those suburbs also had above-average clearance rates – an indication of the strong buyer demand.

The auction boom has encouraged others to sell their homes that way, even in areas traditionally dominated by private sales. This year, 34 per cent of homes have been sold by auction, compared with 26 per cent last year.

There were about 33,000 private sales by the end of August.

By the end of August, more than 24,000 auctions had been held across the state and 87 suburbs within 10km of Melbourne’s CBD had joined the million-dollar median club

Market Update

That has also been a trend in regional Victoria and outer suburbs, where the proportion of sales by auction has increased.

By mid-August, there had been 3581 auctions in Melbourne’s outer suburbs, up from 2381 at the same time last year.

The clearance rate was up, too – from 63 per cent to 65 per cent, though still below the statewide clearance rate of 72 per cent.

For buyers who believe buying a home in Melbourne seems out of reach, the REIV median data shows that in the most affordable suburb, Melton West, it is still possible to buy a home for less than $270,000.

In the second and third-most affordable suburbs, Werribee and Cranbourne, it is possible to buy for less than $295,000.

These outer-ring suburbs all have good transport links, schools and quality housing stock, and are convenient to lifestyle facilities such as green space.

Rounding out the top 10 in REIV’s

The auction boom has encouraged others to sell their homes that way, even in areas traditionally dominated by private sales. This year, 34 per cent of homes have been sold by auction, compared with 26 per cent last year list of Melbourne’s most affordable suburbs based on their June quarter median house price were: Carrum Downs, Wyndham Vale, Craigieburn,

Deer Park, Hoppers Crossing, Pakenham and St Albans. Median house prices for the suburbs ranged from $270,000 to $365,000.

REGIONAL HOUSE PRICES HIT NEW HIGHS The regional Victorian house price reached a new record in the first half of the year, with prices continuing to grow in most Victorian regional centres in the three months to the end of June.

The regional median house price of $327,000 was up 0.8 per cent on the previous quarter, with the June quarter consolidating the gains of previous months. While that growth was slower, this took the state’s year-on-year house price increase to 4.1 per cent.

In the City of Greater Bendigo, the median price was up 1.5 per cent for the June quarter to $335,000 – an annual change of 7.9 per cent – reflecting demand for homes driven by the New Bendigo Hospital project. The increase in the City of Greater Geelong was 0.2 per

cent, but the annual change was a healthy 6.7 per cent.

There was a 0.3 per cent increase in the City of Ballarat, with an annual change of 3.9 per cent. In the City of Greater Shepparton, growth for the quarter was a healthy 3.1 per cent, an annual change of 6 per cent. And in Benalla, the median was up by 5.3 per cent for the quarter, an annual change of 19.4 per cent.

Areas in demand for those looking for a tree-change lifestyle within commuting distance of Melbourne fared well in the June quarter. For example, the ColacOtway region showed June quarter growth of 8.3 per cent and 17.2 per cent annual change, although there were fewer than 30 sales recorded during that year. The median price in the Macedon Ranges grew

4 per cent for the June quarter and 11.6 per cent for the year.

With such areas experiencing strong demand for property and others facing high unemployment, as in the previous quarter there were substantial variations in price growth across the state.

In East Gippsland, there was a fall of 0.8 per cent over the quarter, and on the Bass Coast there was a fall of 5.4 per cent, although that was based on a relatively small number of sales.

Although the median price fell in some centres in the June quarter, in some this followed substantial growth, so the yearly figure still showed healthy growth.

For example, in Ararat the median fell 1.8 per cent, but the annual change was an increase of 26.7 per cent.

The Estate Agent ❘ September/October 2014

29

Conference

Trust me, this is how to build strong client relationships Loyalty, consistency and taking advantage of technology were the key messages at REIV’s annual conference

I

t’s not often a keynote speaker opens by telling his audience what kind of peanut butter he prefers, but James Kane did just that.

A US-based leading expert and consultant on loyalty, Kane also talked about what he wears, his studies, what he eats – “the minutiae of my life” – complete with accompanying slides.

The purpose: to establish something in common with everyone in his audience. “The brain wants to find something it likes,” he told them.

Kane, who has researched the brain science behind loyalty and relationships, was one of four highpowered keynote speakers at REIV’s successful annual conference in August.

Tim Reid, a marketing and branding expert known as The Ideas Guy, entertained with his helpful advice for attracting customers, particularly through podcasts and the use of new media.

Women’s Health magazine’s Felicity Harley, co-host of the Seven Network series Live Well, had practical advice for achieving work-life balance, while Seven Network’s Sunrise host David “Kochie” Koch completed the line-up.

Koch is also a business and finance commentator and spoke about success in small business – and couldn’t resist talking about the revitalisation of the Port Adelaide Football Club, which he chairs.

Kane, who drew in his listeners by lowering his voice, told the more than 300-strong audience that customers

‘When you don’t consistently deliver on the promises you make, the trust you built becomes broken and the loyalty you hoped for goes away’ – James Kane

Ideas man: Marketing and branding expert Tim Reid recommends creating a podcast to reach out to clients.

30

The Estate Agent ❘ September/October 2014

are loyal to companies that know them, leverage insight into them and make their lives better – and by loyalty he meant “relationship loyalty” not “made-up loyalty” such as that used by marketers.

The aim, he said, was loyal relationships – ones that are nearly unbreakable – as opposed to a predisposed relationship – when someone is basically content, which isn’t enough to keep them with you if something better comes along.

Kane outlined the components of a loyal relationship, recommending the use of websites and social media tools to build them.

He cited the example of Amazon, which has built such relationships by creating trust, a sense of belonging and purpose.

“Establishing a sense of trust is critical to a loyal relationship and one of the components of trust is consistency,” Kane said.

“Can the people we interact with, whether it be a client or an employee, count on us to act in a predictable manner? Do we say and do one thing today, and tomorrow something else? Do we give them the proper attention and recognition all the time, or just when we need something from them?”

He warned being consistent was a minefield for most relationships.

“We don’t realise adjusting prices, offering incentives and promising deals and discounts can have a subconscious impact on our customers’ trust,” he said.

“We ignore the distrust that comes from providing one level of attention during the ‘sale’ and other levels after the contract is signed.

Conference

Dependable: Loyalty consultant James Kane says consistency is one of the biggest factors in establishing a strong relationship with clients.

“When you don’t consistently deliver on the promises you make, the trust you built becomes broken and the loyalty you hoped for goes away.”

Being trustworthy, competent, fair, ethical and honest are also necessary to build loyal relationships, Kane said, warning his audience not to seek credit for being that way because people expect it.

While trying to be efficient and costeffective, organisations often spend more time focusing on themselves than the people they serve.

“If you want me to be loyal to you, you need to know who I am. I can’t be just another customer, just another member, just another volunteer, or just another employee,” he said “Do you know what they really want and understand what they care about?

Are you proactive, anticipating what they need before they tell you?”

It was important clients felt an integral part of a team – not merely “the client”, Kane advised.

Reid, founder and co-host of Australia’s top marketing podcast, The Small Business Big Marketing

‘If you want me to be loyal to you, you need to know who I am. I can’t be just another customer, just another member, just another volunteer, or just another employee’ – James Kane

Show, spoke about podcasts and online content as a useful way to create relationships with clients.

He recommended creating a podcast, even if it was simple and involved just talking to a camera. Even if it’s not overly professional, he said, it is more important to start and build the content, seeking “production, not perfection”.

He cited the example of a friend, Darren, who runs St Kilda Boat Sales (blog at stkildaboatsales.com.au).

Darren put a webcam in a minilighthouse he built at the front of his shop on the St Kilda foreshore.

He then broadcast the public could have access to the webcam, providing 24/7 vision of the bay – by providing

their email addresses. He instantly built a database of email addresses and now has 8000.

Reid said helpful content was important and that came from knowing the local community and sharing that knowledge online to grow a connection with the buyer.

His key tips included owning the suburb – create a great website with great local content – and making a blog and podcast.

For those keen to do so but with no idea what to include, Reid recommended researching the biggest questions asked of your agency – for example, by clients and via your website – and checking out other agents’ websites and online material, including those in other cities for ideas you could pursue.

And don’t be afraid to seek help, Reid said, adding it was a good idea to outsource – which you can do very cheaply.

Sites Tim Reid suggested for help – often very reasonably priced – were fiverr.com, freelancer.com.au and elance.com The Estate Agent ❘ September/October 2014

31

Member News

Positive outlook easy to swallow

Good news on the menu at annual economic forecast lunch

G

ood food, good company and good news – the tenor of this year’s REIV Commercial and Industrial Chapter annual economic forecast lunch was upbeat, with keynote speakers optimistic about the outlook for the Australian economy and its property markets.

Business and financial commentator Peter Switzer told the lunch both the global and Australian economic outlooks were positive, offering up a host of statistics to support this.

Bruce Wan, Macquarie Bank’s associate director real estate strategy, also said global growth was improving, with many economies including the Eurozone now in positive territory.

Switzer added that the substantial Chinese economy was still growing – good news for Australia.

Wan said mining’s 10 per cent of GDP was still a major driver of the economy, but the growth in construction, at 8 per cent of GDP, would help ease the decline in mining.

He analysed the prospects for each of Australia’s property sectors, offering insights into correlations with the wider economy. For example, Melbourne’s industrial market has improved substantially and, in terms of take-up, is Australia’s best performer.

Industrial supply was becoming limited, squeezed by increasing residential prices, which has a flowon to nearby industrial land, forcing nearby industries to shift further afield.

House prices and industrial land grow at a similar rate, with house prices leading by about six months, Wan said.

Growth for offices in the current recovery cycle was stronger than in the previous one, with increasing business confidence to drive demand for office

32

The Estate Agent ❘ September/October 2014

Business commentator Peter Switzer

space, he predicted. But it was still a tenants’ market, particularly in Perth, and lower rents combined with an increase in capital values would see further compression of office yields in the next few years.

Wan was optimistic about the residential market, but anticipated a modest correction. He said Macquarie’s price-growth model expected prices to decline by 2017, with a bounceback in 2018.

But contrary to claims about the impact of overseas buyers, he said growth was being driven by local buyers and suburbs with the greatest price growth areas have a lower proportion of overseas-born residents.

There had also been substantial price growth in the top end of town.

‘Melbourne’s industrial market has improved substantially and, in terms of take-up, is Australia’s best performer’ – Bruce Wan

Retail sales had been positive – Wan said there was a correlation between house-price growth and retail spending – but this had not yet led to a marked improvement in rents in regional and sub-regional shopping centres. It would take time to lift rents.

Switzer, who launched The Switzer Group media and publishing, financial services and business coaching companies 20 years ago, is optimistic for Australia not only because of the positive global outlook, but because interest rates are low and housing and confidence are recovering.

Other positive stats included economic growth, optimism from company chief financial officers and business, dwelling starts, tourist arrivals (particularly Chinese tourists), super funds, the stock market and total household wealth.

Switzer believes there isn’t a housing bubble in Australia and no debt crisis – negative media coverage and the suggestion that we have a crisis has unnecessarily spooked business confidence. However, he would prefer to see the Australian dollar lower.

Global growth is becoming more positive – anticipating 3.6-3.9 per cent next year, with China’s economic growth, at an anticipated 7.5 per cent, still substantial and the US likely to outperform expectations. There is also more good news about the US economy than is being reported by the media – for example, 6.1 per cent unemployment is at a five-and-a-half year low and there were 325,000 new jobs in June, Switzer said.

The lunch was also addressed by State Planning Minister Matthew Guy, who focused on the benefits of the recent residential zoning reforms.

Oc, Member opo News

Goulburn Valley property market to begin bearing fruit The drought is over and the Goulburn Valley is getting back in gear, but it’s not easy going

Greater Shepparton City Council

Relaxing by Victoria Park Lake in Shepparton

T

he end of the drought and increasing value of irrigated land in the Goulburn Valley after almost five years of falling prices will lead to a rebound in property prices there, Opteon Property Group partner and director David McKenzie has predicted.

McKenzie said median values and turnover had not rebounded after the GFC as in other parts of the state because of the drought and its impact on the region’s agriculture.

Now, however, housing markets in the area, Shepparton in particular, were expected to improve as more people moved to the towns to take up jobs in expanded dairy-processing industries.

“People are buying up their neighbour’s (farms), neighbours are moving into town; that means increased demand for housing. It absorbs the backlog of housing and

leads to competition,” he told EA. “The dairy factories are gearing up and will employ more people.”

McKenzie, guest speaker at the REIV Rural and Regional Chapter’s knowledge event in Benalla, said this improvement in property markets – later than other centres such as Ballarat,

Fruit and dairying have been the area’s main output but drought, the high dollar and changing demographics have taken a toll Bendigo, Wodonga and Mildura – was also expected by other agents in the irrigation district. They included agents from Echuca, Yarrawonga, Shepparton and Kyabram.

He told the event economic growth in the Goulburn Valley had slowed in the past decade, with its share of the

Victorian regional economy declining in the past five years as regional cities increased their share. The greatest decline had been in Moira and Campaspe, in particular because of falling productivity and labour force participation plus slowing population growth.

Growth in Greater Shepparton had stagnated, but not slowed to the same extent, meaning it was playing a more prominent role in the economic growth of the valley.

The valley employed about 60,000 people, 52 per cent of them in Shepparton. Employment growth had been just 2 per cent over the past decade, compared with 3.25 per cent for regional Victoria.

Fruit and dairying have been the area’s main output but drought, the high dollar and changing demographics have taken a toll. The number of farms more than halved between 2006 and 2010, with milk production dropping 32 per cent in that time – although it has rebounded in the past couple of years.

Grower numbers also decreased, but those remaining were doing more with less – both tree numbers and the value of production were up.

McKenzie told EA the area’s agriculture sector was getting “back in gear” now the dams were full and the water supply secure. Many farms had been consolidated and there was overseas investor interest in dairying.

“For me, the headline is that the Goulburn Valley has been through a pretty tough time and the property markets have reflected that, but almost nothing that has happened there cannot be explained by the impact of the drought on the agricultural sector,” he said.

The Estate Agent ❘ September/October 2014

33

Auctioneering

Third time lucky: practice makes perfect for Li REIV’s Senior Auctioneer of the Year went the extra mile in pursuit of the title that had eluded him

H

arry Li had no intention of being a permanent bridesmaid – always runner-up, never the winner.

Li, runner-up in the REIV Senior Auctioneer of the Year competition the past two years, was determined this would be his year. Intensive training helped him achieve his goal.

“I cracked it, finally. I’m definitely excited, relieved as well,” he told EA. “You have just got to improve to win it; at the start I probably was not quite there.”

Li, a real estate agent for almost 10 years and owner of his own agency, McDonald Real Estate in Springvale, for three-and-a-half years, started auctioneering about five years ago.

He did so because he was frustrated at the difficulties of scheduling an auctioneer from another branch of his former agency.

Having trained within the agency, it was not enough for Li simply to be an adequate auctioneer. He wanted to be the best, partly to raise his profile as an agent but also to offer a service clients would value and seek out.

“I went to different auction courses and attended auction competitions,” says Li, who also trained three or four times a week with a close friend and colleague, staging mock auctions.

“We knew the good auctioneers have generally done this for quite a long time,” 27-year-old Li says.

“Being competitive, I wanted to be active in the competition side of things too, not just the business side.

Making the call: Judges Adam Docking and Geoff White look on during the REIV Senior Auctioneer of the Year competition.

“I thought if you want to be serious about it, you have to dedicate the time.”

Li was one of 20 entrants in this year’s senior competition and emerged from the June heats as one of seven finalists. On July 16, he and the other finalists were taken to inspect a 1950s, two-bedroom weatherboard house in Box Hill North – the subject of their mock auction.

Each was given the choice of using its real location or another, so Li chose

‘Being competitive, I wanted to be active in the competition side of things too, not just the business side. I thought if you want to be serious about it, you have to dedicate the time’ 34

The Estate Agent ❘ September/October 2014

Springvale. The house had similar architecture to many of those he sells each Saturday, he says.

As each finalist conducted the auction, “bidders” planted around the room in the Manningham City Council function centre kept them on their toes with difficult questions and mock bids according to a predetermined sequence.

Former REIV president and current auction chapter committee chair Geoff White was joined on the judging panel by Neil Laws, Adam Docking and Tasmanian Michael Walsh.

Walsh also judges at the Australasian Championships, at which Li will compete in Auckland next month.

Judging criteria included the

Oc, Auctioneering opo

Show time: Harry Li, below, and runner-up Gordon Hope do their best to impress the judges.

quality of the introduction, conveying mandatory legal information, control of the bidding process, calculation of bids and the ability to elicit bids and hold the attention of the spectators – 200 industry professionals.

“Harry’s auction was very consistent and he engaged the audience well,” White said of the judges’ decision.

Li left as little as possible to chance, working with several trainers including New Zealander Mark Sumich, a former Australasian champion.

Having made the final five in last year’s Australasian competition, Li is still training with Sumich in the leadup to this year’s Auckland contest.

He was also helped each day in the week before the Melbourne final by

‘I know that as an auctioneer the results I get nowadays are far superior to when I first started. I am definitely a better auctioneer’

former Victorian representative Michael Choi.

As exciting as it is to win, Li says, his clients are the real winners.

“I know that as an auctioneer the results I get nowadays are far superior to when I first started. I am definitely a better auctioneer,” he says.

“In the beginning I mainly did this as a business decision. I guess it has gone further than I expected. Ultimately, it is

all about the client. If I become a better auctioneer and serve my clients better and get more listings and better results for them, that’s all good.”

Li urges young auctioneers to enter the novice competition, calling it a “great starting point”.

“A lot of people in this year’s finals were previous novice winners or competitors,” he says.

But he also believes auctioneers who entered the senior competition would see an improvement in their performance and in the results they can achieve for their clients: “I call on people to put themselves out there.

Whether they win is one thing, but they will definitely become better agents as a result.”

The Estate Agent ❘ September/October 2014

35

Young Agents

Young gun dishes up the benefits of quality training After nine years in hospitality, Adam Sacco switched to real estate and set about achieving his goals as quickly as possible

A

dam Sacco is a young man in a hurry. Having had immediate success in real estate sales after switching from nine years in hospitality, he had his eyes on an eventual directorship and his own agency.

So for Sacco, 26, rather than working for at least a year as an agent’s representative before undertaking his Certificate IV to become a licensed agent, REIV’s traineeship program was the perfect solution.

Sacco, who completed the program in just six months instead of the three years allowed, took over as officer in effective control of his own agency, Leading Real Estate in Sunbury. He completed on-the-job training while working full-time, hitting the books well into the night to submit his assessments.

“Nothing beats hands-on experience,” says Sacco, who trained as a chef.

“I spent every second I had that I was not working doing the study.”

REIV Traineeship Officer Lucinda Savidis says the program benefits more people than just the trainee.

“The traineeship program is offered to new and existing staff working in an agency,” she says.

“It creates a very thorough and supportive learning curriculum for not only the trainee, but the workplace and particularly the employer.

“Each trainee needs to complete on-the-job training in the workplace and off-the-job training, either at REIV classes, or completing assessments via the distance education option.

“There will be a fully licensed

36

The Estate Agent ❘ September/October 2014

Tasting the rewards: Adam Sacco completed an REIV traineeship.

workplace coach put in place and the trainee will report to this person. The coach is responsible for overseeing all on-the-job training and monitoring progress, as well as making sure the trainee is doing the required amount of study for that month.”

Savidis says those choosing the class contact option decide with their coach on a day to attend the REIV, while those choosing distance education have three

‘To get my licence and be able to use the words “fully licensed agent”, I felt like I was made of gold. I have gone and done the study and I deserve the listings’

hours a week paid to work on their assignments.

“At orientation or sign-up, we put a training plan together with clear due dates and outcome dates which will help them reach their goal and desired date of completion,” Savidis says.

REIV has 150 trainees and, if an employee is eligible, the agency will get government incentives. For a new employee who meets the criteria, an employer will receive two payments of $2000, one on commencement and the other on completion. (Check eligibility at reiv.com.au/Training/StudentInformation/VTG-Funding-flowchart.)

Sacco says the traineeship was ideal for him, as he knew what he wanted to achieve and this made it possible.

Born in Sunbury, he started with Ray White Sunbury in 2012, after being persuaded by director John Woodham that real estate might suit him.

The pair later formed a new company and opened Leading Real Estate Sunbury together in March last year.

Woodham became Sacco’s coach as he undertook his certificate on the way to his licence.

“I wanted to have the running, to take over,” he says. “When I got that letter from REIV saying I had completed my units and I registered myself with the Business Licensing Authority, I was the proudest person in the world.

“After that, to get my licence and be able to use the words ‘fully licensed agent’, I felt like I was made of gold.

I have gone and done the study and I deserve the listings over agents’ representatives.”

But he warns those who choose the traineeship option must be prepared

Oc, Young opo Agents

for self-driven study and a lot of hard work.

Sacco has two children under two and says wife Tiffany bore the brunt of child-rearing and keeping the household together while he did it.

“She was the heart of the family, she was the one who kept it going. She was virtually like a single mother while I was working and studying, but she was the most supportive person.”

Savidis says her role includes calling agencies with trainees to check they are receiving the required amount of time to work on assessments or attend class and the correct on-the-job training. She also has at least monthly correspondence with the trainees and workplace coaches.

“It is important trainees receive the support they need to complete the course. Those who do say it is not easy, but extremely worthwhile.”

Until recently, the Certificate IV in Property Services was the only course offered under a traineeship program, but REIV now offers a Certificate III in Business Administration and, subject to interest from agencies, can run other courses as a traineeship.

For more information go to reiv.com.au/training/traineeships

TAKING A HEALTHY APPROACH TO WORK Bad food and eating on the run, too little exercise, long days and not enough time for personal interests are some of the traps many hard-working real estate agents fall into as they strive to develop their careers.

REIV’s Young Agents Chapter, aware of these pitfalls, held a knowledge network event in August called Mind Fit, Body Fit which was aimed at demonstrating the productivity benefits of work-life balance.

Speakers Dr Jennifer Arnold-Levy, a business and executive coach and

corporate trainer, and Kate Strickland, Marshall White Brighton director and a former international softball player, spoke about the dangers of ignoring good physical and mental health by getting caught up in the day-to-day routine.

During the evening event at the Kew Golf Club, the speakers warned of the dangers of burning out early and provided useful tips for managing stress, including exercise and healthy food in a busy daily routine, and achieving career and sales goals without sacrificing health and personal life.

Healthy choice: From left, Sam Nokes (chairman), Courtney James, Spiros Karagiannidis, Jennifer Arnold-Levy (presenter), Kate Strickland (presenter) and Thomas Georgiou.

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37

Learning Jodi Sanders, GM Learning and Development REIV

Opportunities to improve

T

he REIV flagship event, the annual conference – run over two full days from August 5 – was again a success and attended by more than 250 delegates from across the industry.

The conference is a highlight of the REIV events calendar and promotes the importance of ongoing learning and skills development. This is particularly important for real estate professionals who are competing in an increasingly brand-driven and tech-shaped world where clients look towards those agents who can offer a more innovative and tailored approach.

Staying ahead of the curve has become even more critical. Developing marketing practices and an online

presence that enable your expertise and unique brand to stand out from the crowd are as much the keys to success as knowing your clients and market.

These themes – brand and customer loyalty, modern marketing techniques, enhancing your digital strategy and toolkit, and work-life balance – were explored by our inspirational keynote speakers.

The conference provided plenty of stimulating ideas and know-how, in addition to opportunities for networking – a highly valuable exercise in forging industry connections while also building your personal brand.

The REIV’s year-round events are geared towards effective network

development. I encourage you to attend the metropolitan, regional and chapter events we have coming up throughout the rest of the year – including the annual REIV Awards for Excellence on October 23 which recognise the trailblazers and emerging talent who are setting new benchmarks for our industry.

There are also several more learning and professional development courses on offer from now through to December – from introductory or refresher training in key areas such as auctioneering, property management and sales, through to leadership and best practice skills development.

REIV courses are designed with the needs of our members in mind and provide the most up-to-date accredited training, delivered by knowledgeable and insightful industry leaders with years of practical experience.

Whether you wish to gain some additional expertise or refine your current skill set, now is the ideal time to bolster your capabilities as we enter the promising spring market.

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Course Schedule

Get an REIV qualification Introductory and refresher courses are available to help you gain new skills or sharpen your knowledge in vital areas including commercial and residential sales, auctioneering, owners’ corporation management, agency best practice and digital business basics.

You can also focus on leadership fundamentals such as coaching and mentoring a team, conflict resolution, improving your personal productivity and managing performance.

Residential Property Sales 9am – 5pm

Advanced Auctioneering

Residential Property Management 13th – 16th

9am – 5pm

Career Kickstart – Residential Property Management

Commercial Property Management 23rd

9am – 5pm

Commercial Property Management – Lease Administration

Leadership & Best Practice 8th

9am – 5pm

Effective Conflict Resolution

14th

9am – 5pm

Managing Stress

21st

9am – 5pm

Coaching & Mentoring

31st

9am – 5pm

Effective Meetings

Digital Courses 1st

9am – 12.30pm Mobile Devices in the Property Sector

1st

1.30pm – 5pm

Digital Organisation - Evernote®

9th

9am – 5pm

Being Tech Savvy in the Property Sector

17th

9am – 12.30pm Mobile Devices in the Property Sector

17th

1.30pm – 5pm

Digital Organisation - Evernote®

21st

9am – 5pm

Being Tech Savvy in the Property Sector

31st

9am – 12.30pm Mobile Devices in the Property Sector

31st

1.30pm – 5pm

Digital Organisation - Evernote®

NOVEMBER

12th

9am – 5pm

Introduction to Auctioneering

25th – 28th

9am – 5pm

Career Kickstart – Residential Sales

Commercial Property Sales 9am – 5.00pm

Commercial Property Management Fundamentals

9am – 5pm

Owner’s Corporation Management 24th

9am – 5pm

Introduction to Owners Corporation Management

5th

9am – 5pm

Sales Fundamentals

6th

1.30pm – 5pm

Safety Risks in Estate Agency Practice

10th

9am – 5pm

Customer Service

21st

9am – 12.30pm Time Management

21st

1.30pm – 5pm

Recruit to Retain

25th

9am – 5pm

Personal Productivity

Digital Courses 6th

9am – 5pm

Being Tech Savvy in the Property Sector

18th

9am – 12.30pm Digital Organisation - Evernote®

18th

1.30pm – 5pm

Mobile Devices in the Property Sector

21st

9am – 5pm

Being Tech Savvy in the Property Sector

DECEMBER Residential Property Sales 15th

9am – 12.30pm Residential Sales Refresher

Residential Property Management 8th – 11th

Career Kickstart – Residential Property Management

9am – 5pm

Commercial Property Management 12th

9am – 5.00pm

Commercial Property Management – Lease Administration

Owner’s Corporation Management 1st

9am – 5pm

Intermediate Owner’s Corporation Management

17th

9am – 5pm

Advanced Owner’s Corporation Management

10th

9am – 12.30pm Gender Smart Selling

10th

1.30pm – 5pm

Managing Performance at Work: Why traditional methods fail

Digital Courses 2nd

9am – 12.30pm Digital Organisation - Evernote®

Introduction to Commercial Property Sales

Residential Property Management 6th

5th

Leadership & Best Practice

Residential Property Sales

14th

Commercial Property Management

Leadership & Best Practice

OCTOBER

6th

NOVEMBER (continued)

9am – 12.30pm Residential Property Management Refresher

PLEASE NOTE: The listed courses, dates and times in this schedule are subject to change or cancellation at the discretion of the REIV. For more information visit: www.reiv.com.au/training

reiv.com.au – your first source for REIV events in 2014 The Estate Agent ❘ September/October 2014

39

TICKETS ON TICKETS SALE NOW SALE CROWNPALLADIUM PALLADIUM THURSDAY THURSDAY 23 CROWN 23OCTOBER OCTOBER2014 2014 The REIV is proud to present the most prestigious event on the real estate calendar: the REIV Awards for Excellence 2014.

This gala event will showcase the best of the property industry, celebrate leading real estate agency practice and reward those who have delivered excellence in service, ethics and results. Finalists in each category will be announced on Monday 6 October 2014.

MASTER OF CEREMONIES Back by popular demand, James Mathison is your MC for the evening. You will know James from Channel V, Australian Idol, Nova Radio, 7pm Project, Weekend Sunrise and former host of Channel Ten’s Wake-Up breakfast program.

ENTERTAINMENT Much loved, Popcorn, will return to the stage and will again deliver nonstop dance hits that will pack the dance-floor. The members of Popcorn are professional musicians and performers who have played and toured with many top Australian recording artists and high profile tribute acts.

TICKETS ARE LIMITED AND ALREADY SELLING FAST, SO MAKE SURE YOU SECURE YOUR PLACE TODAY! Ticket bookings close at 5.00pm on Friday 17 October, 2014.

For further information, visit the REIV website at www.reiv.com.au/awards14 and download the booking form.

For all further enquiries, please contact Erin Livingston on 9205 6604 or email elivingston@reiv.com.au EVENT SPONSORS

Gold Sponsors:

Bronze Sponsors:

Events Calendar

REIV events to put in your diary

Clockwise from above: Past events have featured Women’s Health magazine’s Felicity Harley and interior designer Shaynna Blaze. REIV board members John Grabyn and Neville Sanders.

As 2014 draws to a close, several networking and leadership events will take place over the coming months – including the industry’s drawcard, the annual REIV Awards for Excellence.

We salute the brightest and the best during what is certain to be an unforgettable evening. Mark down October 23 in your diary and get in early to secure your place as we pay tribute to our industry’s highest achievers.

OCTOBER

NOVEMBER 18th

Commercial & Industrial Knowledge Network Breakfast Event

Property Management Knowledge Network Event – Wangaratta

18th

Buyers’ Agents Knowledge Network Event

10th

Geelong Division Meeting

20th Young Agents Future Leaders Afternoon

14th

Southern Division Lunch

27th

23rd

REIV Awards for Excellence

29th

Sales Knowledge Network Event

7th

Valuation Knowledge Network Event

9th

Property Management Knowledge Network Event – Melbourne Metropolitan

To find out more about REIV events or to make a reservation, please visit reiv.com.au Events are listed by category and the full 2014 calendar can be downloaded as a PDF

The Estate Agent ❘ September/October 2014

41

TO BE THE LOCAL REAL ESTATE EXPERT YOU NEED VICTORIA’S BEST SALES DATA. Great offers available for REIV Members.

Call 1300 695 645 or email success@propertydata.com.au to find out more.

Events Gallery

Agents gather to tap into innovation and development Technology, marketing and training were the hot topics of REIV’s networking events during winter

Above: Victorian Planning Minister Matthew Guy at the Commercial and Industrial Chapter luncheon.

Above: The realestateVIEW.com.au stand at the annual conference.

Above: REIV staff members at the annual conference.

Above: Neville Sanders and Jodi Sanders present Euan Wightman with his Certificate IV in Property Services.

Above: Guest speaker Kathy Burgstahler at the REIV graduation ceremony in August.

Right and left: Guest speakers David Koch and Shaynna Blaze at the annual conference and women’s networking breakfast.

Above: REIV graduates Katrina Joyce and Helen Barnes.

The Estate Agent ❘ September/October 2014

43

Best Practice

What the changes to land sale laws mean for your team Comply with the Sale of Land Amendment Act 2014 or risk fines

T

he Sale of Land Amendment Act 2014 has brought into effect changes from the start of October to the Section 32 Vendor Statement. The changes mean that only one Section 32 Vendor Statement is needed, instead of two as previously required, and vendors can now sign the statement electronically.

To be able to show a buyer has received a signed Section 32 statement before signing a contract, it is good agency practice to place it in front of the contract rather than the previous practice of behind the contract.

Where a property is withdrawn from sale and relisted, since October 1 it must have a Section 32 Vendor Statement that complies with the amended legislation.

Due diligence checklist Agents are now obliged to provide a due diligence checklist on their own website as soon as they offer land on which there is a residence, or vacant residential land, for sale. This can be done by providing a link to the section of the Consumer Affairs Victoria (CAV) website on which the form, approved by the Director of CAV, is displayed. The link does not have to appear in individual online listings.

Copies of the approved-format due diligence checklist must be available at all open and private inspections of land offered for sale on which there is a residence or vacant residential land.

You can download the checklist from the CAV website and make A4 copies.

A farm with a house, as well as a shop and dwelling, fits the description of “land offered for sale on which there is a residence”. Also, “vacant residential land” includes land on which a residence might be built, subject to a planning permit.

44

The Estate Agent ❘ September/October 2014

The checklist sets out basic information to help buyers identify issues they should be aware of in relation to their potential house, apartment or land purchase.

An on-the-spot fine of $1771.32 may be incurred if you do not make the due diligence checklist available from the time you offer a residence or vacant residential land for sale.

Agents are now obliged to provide a due diligence checklist on their own website as soon as they offer land on which there is a residence, or vacant residential land, for sale Sale of Land (Public Auction) Regulations 2014 These regulations, which replace the Sale of Land Regulations 2005, also took effect on October 1.

The changes are minimal, but you will need to display the 2014 schedule 1, 2, 3 or 4 rules for the conduct of a public auction, as well as the 2014 schedule 5 information concerning the conduct of public auctions of land, at your auctions.

On-the-spot fines of $147.61 apply if the appropriate 2014 rules and information are not displayed.

On-the-spot fine if conditions of public auctions not displayed There is also an on-the-spot fine of $1771.32 under the Sale of Land (Infringements) Regulations 2014 if the conditions under which a public auction is to be conducted are not available for inspection, for at least half an hour at the auction site, before the auction starts.

The “conditions under which the auction is to be conducted” include not only the applicable public auction rules and information, but also the Section 32

statement and contract of sale and any other conditions which may apply to the conduct of the auction.

Jointly-badged REIV–LIV contract of sale updated The REIV and the Law Institute of Victoria (LIV) have updated their jointly badged contract of sale to comply with the introduction of the Estate Agents (Contracts) Amendment Regulations 2014 which came into force from the start of October.

If you are creating your own contract for the sale of land, you should do so on the updated REIV–LIV form. The REIV is currently printing the updated contract for members’ use.

Ensure you comply with the changes Make sure your sales team is aware of the changes to the Section 32 Vendor Statement, the introduction of the due diligence checklist, the new public auction regulations including the possibility of on-the-spot fines, and the revised REIV–LIV contract of sale of real estate.

Ensure you have copies of the due diligence checklist available at every open and private inspection and that you provide a link from your website to the checklist on the CAV website.

You can order your 2014 public auction rules and information and a supply of the revised REIV–LIV contract of sale of real estate in hard copy from the REIV. The electronic version has also been revised.

The public auction rules and information and printed copies of the revised contract of sale can be ordered via the Stationery Price List and Order Form in the members’ section of the REIV website at: reiv.com.au/ Members/REIV-stationery

Best Practice

The bricks and mortar of real estate trade marks Smart branding can give you a competitive edge, writes Sharon Givoni

I

n his speech at the REIV Digital Conference in November last year, Ian Elliot, former CEO of Australia’s esteemed advertising agency George Patterson, made the analogy that brands are just like people: they have their own attributes, personalities, values and essence.

In a similar vein, Danish branding expert Martin Lindstrom has described branding in today’s world as being multi-sensory with five dimensions, not just two. If you think about it, good branding can engage all five senses by utilising smells, sounds, shapes, colours and the like.

When I presented on intellectual property law at the REIV Digital Conference, one of the things I explored was the extent to which real estate agents can do the same.

In my view, having looked at the Australian Trade Marks Register, this is an area which has been underused by real estate firms.

In other words, while there are many names and logos registered as trade marks in the real estate and property category, you can also register taglines, distinctive shapes of billboards and even colours that have become associated over time with your brand.

Registered taglines owned by real estate agents Examples of some taglines that have been registered as trade marks in the real estate industry include: z Nobody does it better (owned by LJ Hooker Corporation Limited) z We’ll Look After You (owned by Raine and Horne Holdings Pty Ltd) z Your Red Carpet Experience (owned

by Barry Plant Holdings Pty Ltd) z The Little Red Book of Real Estate (owned by Harcourts WA Pty Ltd)

Danish branding expert Martin Lindstrom has described branding in today’s world as being multi-sensory In the same way as the words “zoom zoom zoom” can bring to mind a car brand, the argument goes that the words “Nobody Does It Better” will bring to mind LJ Hooker.

It doesn’t stop at taglines. Colours and shapes can also function as brands.

For example, if you use an unusual colour for all your billboards or an unusual shape, or something that makes people immediately recognise it as ‘you’, it may be registrable.

The benefits of trade mark registration Now you know how far trade mark registration can extend, you may be wondering why you should go to the trouble of registering a trade mark.

The reason is simple.

Trade mark registration is the only real way you can ‘own’ a brand.

Business name, company name and domain name registration are effectively just administrative steps to help people identify you and your business.

They give you no ownership rights and if someone copies your name or an aspect of your brand, owning

trade mark registration will become important.

Finally, other benefits of registration include: z You can use the ® symbol z Protection is Australia-wide z You can renew the trade mark every 10 years if still in use (so it is potentially perpetual) z If another real estate agent uses something too similar, you can take legal action (subject to some exceptions) In Australia trade marks are granted on a ‘first-in-first-served’ basis, so don’t delay.

The message is …

If you can think of a brand you have not registered as a trade mark but should, you may want to take action now.

Disclaimer: This article is of a general nature only and must not be relied upon as a substitute for tailored legal advice.

About the writer Sharon Givoni is an intellectual property lawyer with many clients in the real estate industry. She can be contacted on 0410 557 907 or 03 9527 1334 or email sharon@iplegal.com.au. Her website is www.sharongivoni.com.au The Estate Agent ❘ September/October 2014

45

Obituary

Sunbury loses much-loved agent Community agent and friend to all dies with his wife in flight MH17 crash

W

hen Malaysia Airlines flight MH17 was shot down over Ukraine, Sunbury lost not only a popular and respected local real estate agent of 35 years, but a friend, father and pillar of the local community he loved.

Albert Rizk, 53, and his wife Maree, 54, were travelling home after a holiday with friends in Europe on the illfated July 18 flight from Amsterdam to Kuala Lumpur. All 298 passengers and crew on board died – and that was the number of balloons released at an emotional memorial service for the couple attended by 1000 people at Sunbury’s Rupertswood Mansion last month.

The Rizks had tried unsuccessfully to transfer to an earlier flight, while the friends with whom they were travelling, Ross and Sue Campbell, who flew earlier, had tried unsuccessfully to transfer to flight MH17 so the four could return home together.

Rizk, an REIV member since July 1995, was a director of Raine and Horne Sunbury, which was opened in 1985 by co-directors Randolph Clements, who is now based at the Raine and Horne head office, and Ken Grech, based at the agency’s Gisborne branch.

Grech lost not only a colleague but one of his best friends: “Albert and I both started at Glenroy, working for EJ Doherty. Randolph Clements was a director of that office. We were both 19 when we started, so for 34 years we worked together,” he told EA. “Albert was a beautiful man – gentle, honest and trustworthy, a bit of a joker, great in the community.”

He said the huge turnout by the local community at the memorial service was because Rizk “was not just a real

ALBERT RIZK June 4, 1961 – July 18, 2014

estate agent, he was just a friend to everybody”.

Rizk started in real estate in 1980, first in property management, then in sales. He became a Raine and Horne national award-winning salesman, and continued to enhance his skills with REIV courses and an advanced management skills certificate from Victoria University.

His responsibilities at Raine and Horne Sunbury included not only sales, but managing owners’ corporation issues and commercial and retail leasing.

Grech said even after his decades in real estate, Rizk remained passionate

‘Albert was a beautiful man – gentle, honest and trustworthy, a bit of a joker, great in the community’ – Ken Grech 46

The Estate Agent ❘ September/October 2014

and still enjoyed the thrill of obtaining a listing and a good result.

“He still had the buzz,” Grech said, while also paying tribute to Maree, whom Albert married in 1990.

She made it possible for her husband to work long hours, while she cared for their children, he said. Later, she helped with the business, including occasional work on reception and in property management.

Rizk was born in Alexandria, Egypt, to an Egyptian father and an Italian mother.

The family moved to Australia when he was eight and he grew up in Campbellfield, attending Upfield High School and Preston Technical School.

The couple, who lived in Sunbury all their married life, had two children – Vanessa, 22, who works in a community service job, and James, 21, who is in property management at his father’s Gisborne office and has just started studying for his real estate licence at REIV. “Dad loved what he was doing and he brought that to the family,” James told EA. Another of Rizk’s passions was football. James said his father played for Upfield YCW, including representing Victoria, and he was a passionate Carlton Football Club member who went to most games.

He was also a committee member of the Sunbury Lions Football Club, for which James plays, while Maree helped out in the canteen. Both parents regularly watched their son play.

“He liked to help out local sporting clubs, not just my club, and if someone came up to him and asked him to donate to the local community he would,” James said.

“He was a very generous man, he gave a lot back.”

The couple’s bodies were repatriated last month, their son James travelling to Amsterdam to accompany them on their final journey home.

Directory

REIV Mission Statement: To lead and represent the real estate industry and advance the professionalism of members

What We Do

Contact

The Real Estate Institute of Victoria has been the peak professional association for the Victorian real estate industry since 1936.

Internet reiv.com.au

More than 2000 real estate agencies in Victoria are Members of the REIV. Members specialise in all facets of real estate, including residential sales, commercial and industrial sales, auctions, business broking, buyers agency, property management, owners’ corporations management and valuations.

REIV Members are located in city, rural and regional areas.

Twitter twitter.com/REIVictoria LinkedIn Search ‘REIV Networking Group’ Facebook facebook.com/REIVictoria Access REIV members rewards reiv.com.au/members/member-rewards Book an event reiv.com.au/event Register for a training course reiv.com.au/training Access REIV sales data https://members.propertydata.com.au Purchase REIV forms http://vicforms.reiv.com.au Access REIV insurance services reiv.com.au/members/insurance

Find out more about the REIV Telephone 03 9205 6666 ❘ Facimile 03 9205 6699 ❘ Email reiv@reiv.com.au Victorian country members only 1800 061 218

commercialview.com.au

propertydata.com.au

47

The Estate Agent ❘ September/October 2014

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