From the Boardroom Autumn 2012

AUTUMN EDITION 2012

e-Marketing

New way of doing old things Page 12

Retail or Commercial

Get Office Smart

which is it?

Security Insights for your Office Data Page 21

ALSO AVAILABLE TO VIEW ONLINE AT EAC.COM.AU

Page 07

FTB AUTUMN Edition 2012 Index

1

03

The Chairman’s View - Dale Whittaker

04

In the Pipeline - David Crombie

05

Eye On The Industry - John Carson

07

Compliance Matters - Geoff Hunter

09

Red Square Custom Reports - Damien McDonald

12

e-Marketing - Ross Graham

15

EAC Classifieds - Damien McDonald

16

Guest Feature - Greg Jemmeson

17

Practice Support - Silvana Ferraro

19

Guest Feature - Margaret Colyer

21

Technology Review - Don Harb

23

The Form Guide - Maureen Faapito

27

Staff Profile - Damien McDonald

28

Member Profile - Damien McDonald

31

Welcome New Members

32

EAC Contact List

33

EAC & realestateworld.com.au Account Managers

FTB AUTUMN Edition 2012

2

The Chairman’s View Minister Meeting

By Dale Whittaker, EAC Chairman

On 24th April 2012, we met with the Minister for Fair Trading, Anthony Roberts, and several policy advisors for the second time in recent months to discuss a number of issues concerning the industry at the moment.

These topics included the long standing question of whether or not professional indemnity insurance should be made compulsory for all industry participants.

Some of the issues raised in this area included:• W hat are the implications of the impending National Licensing Scheme?

• L icensed individuals and corporations that are working in contractor relationships would require separate cover.

• N on active licenses, should they still have to maintain cover and if so, at what level?

• L icence holders who are employees of another licence holder (individual or corporation) would need a certificate from their employer’s insurer confirming cover under that policy.

• S hould there be mandatory cover for fraud, that is, trust account defalcation by an employee and public liability?

• W hat would be the cover required in partnerships, two or more licenses/corporations if operating under the same business and/or trading name?

3

FTB AUTUMN Edition 2012

The Government is actively consulting industry on this topic so if you have strong views on any of these issues or the potential compulsory nature of the cover, either for or against, please contact EAC so that we can put those views forward at our next meeting with the Minister.

Other topics that were raised included several recent inconsistent tribunal decisions in the area of break fee clauses in the residential lease and conflict between s.26 and s.100 of the Residential Tenancies Act 2010.

On a personal note I must say that it was very pleasing to see that the Minister was well across these issues and the industry in general and I feel he has a very genuine desire to assist the industry in improving its professionalism and standing within the community.

It is also very pleasing that he is affording us regular contact and actively seeking our input and views on industry matters.

So if you have other issues that are concerning you which have not been covered here, please let us know.

In the Pipeline

What’s Happening at EAC

By David Crombie, EAC Chief Executive Officer

Welcome to the second edition of From the Boardroom for 2012, here we are in May and the year is well and truly underway.

The search for new premises for our head office continues.

Over the past couple of months we have looked at several properties in the Parramatta, Silverwater and Homebush areas but are yet to find anything that meets our requirements. We are looking for around 600sqm of office space, our preference is to purchase but based on the current market and what is available we are also considering leasing premises. If you are able to assist do not hesitate in giving us a call.

We met with the Minister for Fair Trading, Anthony Roberts, at the end of April to provide our thoughts on several industry initiatives that they are considering. We took this opportunity to raise several matters of concern as discussed in Dale’s article. I would like to remind members of our Agency Practice Support service where members can obtain advice on issues affecting day-to-day agency practice.

In early March we released an update to Red Square Web and Mapping which included several enhancements based on your feedback.

Of note in the update is the ability for us to now provide you with reports customised for your office within Red Square Web and several offices have already taken advantage of this new feature.

February and March saw the release of several new services and products including Red Square Communicate (electronic newsletters), Red Square Contact (CRM), our e-Marketer Package (website, social media and electronic newsletters) and Red Square Mobile which brings Red Square to your mobile device at no additional charge.

Mobile technology is changing the face of real estate. It has changed the way real estate professionals communicate and a whole new generation is being brought up with the entire web in the palm of their hand. To this end, work is now nearing completion on a mobile version of realestateworld.com.au for consumers and once this is complete we will then finalise the development of our mobile websites for agents.

On a sad note, March saw the last edition of the Canterbury Bankstown realestateworld.com.au published. In the end it was just not economically viable to publish it anymore. I would like to take this opportunity to thank all the members that supported the publication over the years and the decision, while a difficult one, was made in the best interests of the Cooperative overall.

I talk to many agents on a weekly basis from across the state, if you are doing it tough at the moment just know that you are not alone. We have seen an increased number of closures and mergers in the past few months and I do not foresee a change in the market until at least later in the year. The Co-operative provides many cost effective goods and services and in some cases at a lot less than other third party suppliers. If you are looking for savings do yourself a favour and call us and we will see if there is a better way to package your services or maybe even provide services that will save you money that you are currently not using. We are happy to help however we can.

The management team has been looking at ways to continue providing our members with the same level of communication on services and Industry relevant information with a focus on reducing our overall carbon footprint for the benefit the environment. As a result of these discussions, a new strategy is to commence the distribution of From the Boardroom in an environmentally sound online format, saving the use of over 20,000 sheets of treated gloss paper each issue. The next edition, which is scheduled for August 2012 will be sent to you all via a personalised email that will link back to a dedicated landing page on www.eac.com.au. From there you can then read each issue online in the knowledge that we are all doing our bit for the environment.

As always, we welcome any feedback you might have to help us make our products and services more beneficial to your office as, ultimately, we are about service and not profit at the expense of the industry.

The redevelopment of our Addlist is getting closer to completion day by day and with features such as generation of QR Codes it is packed with all the latest tools to allow you to professionally list and market your properties for sale and lease.

I would also like to remind you that come 30 June 2012 the application version of Red Square will be decommissioned and will no longer work. If you have any questions in this regard please do not hesitate to contact Red Square Support on 1300 137 161.

FTB AUTUMN Edition 2012

4

Eye On The Industry Special General Meeting

By John Carson, EAC Chief Operations Officer

As per the notice issued to all member/shareholders a Special General Meeting of the Co-operative was held on Wednesday 29 February, 2012 at the Co-operative’s Head Office, 274 Miller Road, Villawood.

It had been some 10 years since there had been changes to any of the Co-operative’s Rules. Since that time there have been significant changes in the operations of the Co-operative and the Board believed it appropriate to recommend certain Rule changes to recognise these changes and better reflect the current operations of the Co-operative.

As per the notice paper the Rules that were recommended for amendment were: • R ule 5 which relates to the Primary Activities of the Cooperative. The purpose of the recommended change was to reflect the current services offered by the Co-operative.

• R ule 6 which relates to the Active Membership Provisions of the Co-operative. The purpose of the recommended change was to meet current legislative requirements and to take into account the current products and services offered by the Co-operative.

(b) to provide goods, services and facilities to those involved in, or intending to become involved in, a property services industry, including but not limited to Agency Practice Support, Listing Management, Property Data, Print and Online Marketing services in relation to the marketing and selling of real estate and interests in real estate, printed and electronic real estate forms and stationery.

In this rule “property services industry” includes any industry or activity which involves or is associated with the selling, managing, valuing or otherwise dealing with real estate or interests in real estate or businesses.”

ACTIVE MEMBERSHIP 6. (a) I n order to establish active membership of the cooperative, a member shall, do one or more of the following during every financial year:

• R ule 13 which relates to Membership. The purpose of the recommended change was to streamline the membership process.

• R ule 34(b) which relates to quorums for meetings. The purpose of the recommended change was to avoid the expense of reconvening a meeting where insufficient numbers were in attendance.

• R ule 39 which relates to the Board of Directors. The purpose of the recommended change was to allow a broader representation and also allow more members to qualify as Directors should they wish to stand for a position on the Board.

On being put to the meeting all motions were carried unanimously.

The Rule changes were submitted to the Registry of Cooperatives for its review and approval which has now been received and accordingly the new Rules are now in effect.

The new Rules are:

PRIMARY ACTIVITIES 5. In accordance with Part 6 of the Act, the primary activities of the co-operative are; (a) to conduct and develop a listing system in relation to the marketing and selling of real estate and interests in real estate; and

5

FTB AUTUMN Edition 2012

(i) list in the listing system conducted by the cooperative, any/all type or types of real estate properties; (ii) advertise real estate properties for sale in publications published by the Co-operative from time to time. (iii) utilise such one or more of the services or facilities provided by the Co-operative.

APPLICATION FOR MEMBERSHP 13. (a) A n application for membership shall be made and addressed to the registered office of the Co-operative in the form approved by the Board from time to time. (b) A person is not qualified to be admitted to membership of the Co-operative unless the Board is satisfied that the applicant will abide by the Rules, By-laws, Codes and Policies of the Co-operative and that –

(i) the applicant is the sole beneficial owner of the business or a beneficial co-owner owning more than a quarter of the business, and is still so carrying on that business, or

(ii) the applicant is the person in charge and having the conduct of a real estate agency business owned by a company which is of the type referred to in subclause (c) of this Rule and is still such a person. (c) The type of company referred to in subclause (b) (ii) of this Rule is a company of which the applicant is a director and in respect of which the applicant alone, or the applicant and any one or more of the spouse (including de facto spouse), children and parents of the applicant, or the applicant and any one or more persons (limited to such number as the Board may approve in any particular case) acceptable to the Board

(i) control the composition of its board of directors, (ii) is or are in a position to cast, or control the casting of, more than one half of the maximum number of votes that might be cast at a general meeting of the company, or

(iii) holds or between them hold more than one half of the issued share capital of the company (excluding any part of that issued share capital that carries no right to participate beyond a specified amount in a distribution of either profits or capital) .

(d) For the purposes of subclause (c) of this Rule any share held, or power exercisable, by a person in a fiduciary capacity shall be treated as not held or exercisable by that person. (e) Variations of the above qualifications shall be made only at the discretion of the Board, providing that the Board specifically advises members that such variation is being considered prior to any decision. (f) Notwithstanding the foregoing the Board may refuse an application for membership without assigning any reason for the refusal.�

PROCEEDINGS AT GENERAL MEETINGS 34 (b) S ave as herein otherwise provided ten members personally present shall be a quorum. If within half an hour after the appointed time for the meeting a quorum is not present, the meeting, if convened upon the requisition of members, shall be dissolved. In any other case it shall stand adjourned for half an hour and, if a quorum is not then present, the members present shall constitute a quorum.

BOARD OF DIRECTORS 39 (a) U ntil otherwise determined by a general meeting there shall be a Board of 9 directors each of whom shall be a natural person who is at least 18 years of age. (b) The Board shall divide the areas in which the Co-operative operates into two voting zones, a Metropolitan voting zone and a Regional voting zone, the boundaries of which shall be as determined by the Board from time to time and identified by reference to a voting zone plan kept in the registered office of the Co-operative. (c) The Metropolitan voting zone shall be represented by five directors and the Regional voting zone by four directors.

FTB AUTUMN Edition 2012

6

Compliance Matters

Retail or Commercial – which is it?

By Geoff Hunter, Industry Liaison and Compliance Advisor

Many agency principals and property managers avoid dealing with retail leasing due to their perception that it is a complex and difficult process. Whilst leasing retail is generally more detailed than some commercial leasing transactions, practitioners should not avoid the retail area based upon a fundamental belief that it is “all too hard.”

In fact, retail leasing is governed by a very clear set of systems and procedures that are relatively easy to follow. The Retail Leases Act 1994 (the Act) is the specific legislation that governs the relationship between lessors and lessees of retail premises and which set the guidelines within which leasing agents must work.

The Act consists of requirements that cover all aspects of retail tenancies. The following information highlights some of the key areas in the pre-lease stage.

The Act defines retail shop, retail shopping centre and retail speciality shop. Whether the leasing transaction is captured by the Act and therefore requires a retail lease will depend upon whether the premises are in a shopping centre, or the proposed use is a business listed in Schedule 1 of the Act. There are some 160 uses classified as retail businesses. There are also exceptions such as premises over 1,000 square metres and leases for less than six months. Determining whether it will be a retail tenancy can at times be difficult and agents should seek legal advice.

Generally, the Act applies to: • premises that are used, or proposed to be used, wholly or predominately for the carrying on of a business prescribed in Schedule 1 of the Act, (whether or not in a retail shopping centre); OR • premises that are used, or proposed to be used, for the carrying on of any business (whether or not it is a business as prescribed in Schedule 1 of the Act) in a shopping centre (five or more premises, with the same owner, in the same building(s) adjoined by a common area or with the same strata plan, and known as a shopping centre, court, arcade or mall); AND • the premises are smaller than 1,000 sqm excluding car parking and unattached storage areas; AND • the lease is for more than six months.

Short-term leases The Act does not apply to a lease of a retail shop for a term of less than 6 months without any right for the lessee to extend the lease (whether by an option to extend or renew or otherwise).

However, the Act does apply to short-term leases if the lessee has been in possession or entitled to be in possession without interruption for more than one year (whether by a series of 2 or more leases or by means of an extended or renewed lease or

7

FTB AUTUMN Edition 2012

leases, or by any combination of those means). Refer to s.6A of the Act for more details.

Minimum 5-year term The retail shop lease must be for a minimum term of 5 years including any options. For an agreement for a term of less than 5 years, the lessee must waive the right by obtaining a signed Section 16 certificate.

Disclosure and outgoings A lessor is prohibited from offering to enter into a retail lease, inviting an offer to enter into a retail lease or indicate by advertisement that a retail shop is for lease, unless they have a copy of the proposed lease (in written form, but not necessarily including particulars of the lessee, the rent or term). A copy of the proposed lease and the mandatory retail tenancy guide must be given to a prospective lessee as soon as negotiations begin.

Lessors disclosure statement The lessor must at least 7 days before a retail lease is entered into, give the lessee a disclosure statement for the lease. The disclosure statement must contain the information set out in Schedule 2 of the Act and is generally prepared in consultation with the lessor’s solicitor.

Lessees disclosure statement The lessee is also required to provide a disclosure statement.

There is a provision for this in Part 12 at the end of the lessors disclosure statement.

Some Key Points • Key money: The acceptance of key money is prohibited under the Act. • Lease preparation expenses: A lessor must not seek or accept lease preparation expenses however, certain costs associated with amendments to the lease, sought by the lessee, can be recovered.

• Registration of leases: All leases for a term of more than 3 years, including any option periods, must be registered with Land and Property Information. These leases should be prepared by the lessor’s solicitor.

• Security bonds: Can be cash, bank or third party guarantee.

Cash bonds must be lodged with the NSW Retail Bond Scheme.

• Rent reviews: Most commonly, these are a fixed dollar amount, a percentage, CPI or a review to market.

More information at Fair Trading NSW The Retail Tenancy Unit provides plenty of information to assist consumers and real estate agents with retail leasing including forms and telephone advice on 1300 795 534. We recommend that agents intending to act in a retail leasing transaction become familiar with the relevant content on the Fair Trading NSW website. Some of the forms are in PDF and fillable format.

Bonds and disputes: Access information and forms regarding the NSW Retail Bond Scheme and dispute resolution process via the retail tenancy forms home page: www.fairtrading.nsw.gov.au/About_us/Forms/Retail_tenancy_ forms.html

List of main forms and documents • Info Kit for Retail Tenants – online and CD ROM formats • NSW Retail Tenant’s Guide – PDF format • Lessor’s Disclosure Statement – PDF and fillable format Lessee’s Disclosure Statement included in the above form • Assignor’s disclosure statement – PDF format • When you want to sell the business – PDF format • Inspection of Premises Report – PDF and fillable format • Certification under section 16 – fillable format

Retail Leases and some of these forms are available in printed format and through EAC eForms.

Retail tenancy home page: www.fairtrading.nsw.gov.au/Businesses/Retail_tenancy.html

FTB AUTUMN Edition 2012

8

Red Square Custom Reports

By Damien McDonald, EAC Sales & Marketing Manager

Have our design team create your individual Red Square reports to stand out from the crowd...

Want more listings? One of the best ways to demonstrate your marketing expertise to sellers is to show them how you will market their property. The design team at EAC can produce property lists, flyers, brochures, window card display or direct marketing material that come totally branded to your office.

Designs are available for your exclusive use from the reports drop down menu on Red Square.

Red Square hosts several agent and consumer based reports as standard that suit the majority of agents’ needs, but if you require that extra edge, or want to differentiate yourself, our custom reports are the way to go.

Some examples of custom reports that are available but not limited to are: • Branded A5 brochures • DL size direct marketing cards • Landscape window cards • A3 window cards • Just

Listed, Just Sold and For Lease flyers and multi property photo window cards

139

FTB AUTUMN Edition 2012

You can request a quotation on any report design by contacting us by emailing redsquare@eac.com.au and attaching a copy of an existing design you may already use or provide a text description in your email. Once received, you will be sent a quotation applicable to the work required to complete your request for your approval.

Your design will then be produced by our team and forwarded for your approval. We will then add your new branded report for your exclusive use in Red Square and it’s then ready to use.

Custom reports can be accessed anywhere at any time and we can even tailor reports to suit individual offices, franchises and office groups.

Custom reports are ideal for Red Square Application users who are reluctant to move to Red Square Web because they use the Red Square Report Writer, but want to ensure they have the reports they currently use, installed on Red Square Web when the application product is turned off in June 2012.

To find out more about Red Square Custom Reports contact EAC on 1300 137 161 or speak to your EAC representative.

RE A L ES TATE LI CEN SI N G COUR S E FROM $1 3 5 0 . 00 O NLY FOR A L I M I T ED T I ME!

E X PE R IE N C E D A G E N T S LIC E NS I N G C O U R S E

Fo r C e r t i fi c a t e o f Re g i s t ra t i o n h o l d e r s l oo ki n g t o fu r t h e r t h e i r q u al i fi c a t i o n s

D istanc e Lea rn i n g En r o l N O W an d SAV E

*N O W on l y

$1 350.00 I n Cla ss

L i mi t ed Offe r - Don ’ t Mi s s O ut !

E n r o l N OW an d SAV E

* N OW o n l y

$ 1 800.00 *Conditions do apply *Payment of a $1000.00 required on enrolment, balance due after receiving first lot of material or attending first in-rooms workshop. Applicants must satisfy THINK REAL ESTATE’s normal enrolment requirements THINK REAL ESTATE reserves the right to end this offer at any time

For further details and to obtain an information brochure

CALL Jess TODAY on (02) 9587 5277 or email license@thinkrealestate.net.au

THINK REAL ESTATE is a Registered Training Organisation No: 91262 ABN: 59 075 576 788

w ww.t h i n k r e a le s t a t e . n e t . a u

thinkr e a le st a t e Providing the support services agents need!

SCAN QR CODE

Fast & Flexible Searching Why not start every property search directly from a map!

Access to the most advanced and interactive state wide mapping tools available for property professionals.

• See property details as you navigate around the map • Single or multiple unrestricted radius searches • View property boundary measurements and area size

Effortlessly source any information you need by performing multiple street, suburb, postcode or council searches as well as having the ability to add a new search to existing search results. You can even search directly from our mapping tool!

Red Square Map Search!

Are you interested yet?

For more info call EAC on 1300 137 161 or email us on membership@eac.com.au

e-Marketing

It’s a new way of doing old things

By Ross Graham, Sales Manager Membership Services

Do you feel as if you are drowning in all the new technologies? Well take a deep breath because it is not going to stop. What we are seeing is essentially, changes in consumer behaviour brought about by technological developments. Should we be scared - absolutely not!

These changes have occurred before and will continue to do so, the trick for good marketers is to adapt. But that’s easier said than done, just ask a retailer. Their industry is undergoing dramatic and painful changes courtesy of internet shopping and the outlook is grim for the traditional retail outlets.

Nevertheless, it is basic marketing: 1. I dentify your target audience such as investors, first home buyers, rural etc.

2. U nderstand them. How can you speak to them, what are they reading, watching and doing?

3. C ommunicate with them in the most cost-effective way, using the medium they use.

Remember, the customer is king and they decide when and how they will communicate with you. e-marketing is simply a way of communicating with the large and rapidly growing audience that uses electronic devices such as smart phones, web sites and social media to access information.

2. A comprehensive and structured social media program 3. A customer relationship management (CRM) program 4. A professional e-newsletter service In our Red Square e-marketer package, EAC can provide these components with two added advantages. Firstly, the components are fully integrated with each other and the Red Square listing management software so it is a case of “enter once go to many”. This approach is important to making the whole process achievable. The social media component for instance involves accounts with Facebook, Twitter, Google+, Linkedin, You Tube and more, so being able to upload to all these sites from the one entry is critical.

The second advantage of the e-marketer package is the 24 month payment plan. From as little as $273 per month you can have an e-marketing program up and running and after two years the monthly fees drop to less than $167 based on current pricing. For more information on the e-marketer package Google EAC e-marketer.

Today, the internet and web sites are arguably an accepted part of our lifestyle. Our kids through to our grandparents are using it every day. It is however, the extraordinary pace of which we have adopted smart phones and social media that has good marketers taking notice.

In Australia Facebook has over 10 million active accounts and women 55+ are the fastest growing demographic for them.

That’s as much as one in two Australians using Facebook to communicate.

According to Google research reported in the SMH, mobile internet usage by Australians now rivals that of PCs for activities like social networking and shopping. It also revealed that behind Singapore, Australia has the highest smartphone penetration in the world at 37 per cent.

So what does e-marketing involve? There are four key components to a successful e-marketing program.

1. A web site that is interactive, social media enabled and mobile device friendly

FTB AUTUMN Edition 2012

12

EAC e-marketer PACKAGES The cost effective solution to your online presence. n ellers Join the conversatio ers and s buy Connect with

Build Your Brand Locally, Regionally and Nationally

For as little as $273 a month on a 24 month contract, your office can have access to the latest online tools to ensure maximum exposure of your brand to buyers and sellers alike.

WHAT YOU GET

1

Latest in EAC Powered Premium Website packed with features including; • Home page • About us page • Staff profiles page • Contact us page • Feature Property on the homepage • Property quick search feature • Mortgage Calculator • Property email alert • Consumer Neighbourhood Report feature • 6 x online real estate forms • Automatic property upload • Website hosting • Email hosting • Search engine optimised (SEO) • Social Media enabled • Blog (mapped to your domain)

2

All the Social Media Tools for connecting with buyers and sellers including; •

• • • • • • • • •

Your Listings uploaded to your social media pages Facebook company page setup Linked In company page setup Twitter account setup Google + account setup Google analytics account setup Google web profile setup Google Places setup You Tube Channel setup Office Blog setup

3

A realestateworld.com.au Pro package and all of your listings uploaded to your website as well as most of the major real estate listing portals including;

4

Meaningful Property Newsletters you can produce in less than 5 minutes that include; • • • • • • • • • • •

Full integration with your listings Unlimited campaigns Buyer and seller lead alerts via SMS Customised branded templates Featured properties OFI’s New rentals News content provided daily Campaign management tools Social Media integration Spam compliant

If purchased individually these features would total over $6,500. Avoid a big upfront payment with our 24 month cost effective plan from $273 a month.

Contact us today about our e-marketer package on 1300 137 161.

EAC Classifieds

By Damien McDonald, EAC Sales & Marketing Manager

Red Square application to be switched off June 30

at which time The deadline for the discontinuation of our Red Square application is scheduled for 30 June 2012, application the in used only Red Square Web will be available to users. Offices requiring reports currently being for quotation a arrange to and not available on Red Square Web can contact Red Square Support on 1300 137 161 and ID user current your production. Red Square Web can be accessed by opening www.eac.com.au and using homepage. If you password to log into the section provided. You will then be taken directly to the Red Square Web ion. are unsure of your user ID or password you can contact Membership Services for confirmat

Red Square mobile a hit with users!

There has been plenty of positive feedback coming through on the new Red Square mobile solution now available to all Red Square users. No matter if you have an iPhone or prefer Android, you will be able to access Red Square mobile. Simply use your existing Red Square user ID and password to log into www.eac.com.au, select the Red Square Mobile option, and Red Square mobile will adjust to suit the type of supported device you are using. If you encounter any problems with your mobile device please contact EAC support on 1300 137 161 for assistance.

for principals CPD training managers and property June 2012 scheduled for

n of a series ceive notificatio ‘Nuts & re ill w u yo Shortly agement Property Man by of upcoming ars conducted in m se point se he T .

12 20 Bolts’ 12 CPD ne duled for Ju he sc r, ill te w un ns H Geoff d sessio not to be misse d st an oa e C iv at th or rm N info , Mid e South Coast t es W al tr en C take place on th s as well as er iv R in n ta er th ob and Nor you need to t of NSW. If test & North Wes t to get the la an w ints or just one om fr t en your CPD po ty managem er op pr et on n fo io informat ters don’t rg leading presen ’s ry st du in e of th to register.

Join the conversation with EAC and realestateworld.com.au social media pages Both EAC and realestateworld .com.au social media pages have recently gone through a maj or facelift as well as now pro vidi ng a wealth of information rele vant to our industry. Search Est ate Agents Co-operative in Fac ebook or Twitter and ‘Lik e’ or ‘Follow us’ to access this information updated daily.

Sea rch for realestateworld.com.au in Facebook or Twitter and ‘Lik e’ or ‘Follow us’. Feel free to commen t on existing posted stories and by joining the conversation presen t your office as an industry exp ert to consumers visiting the pag e. If you would like to increas e you r office’s social media presence EAC can provide a complete soc ial media solution at a fraction of the cost of other providers.

EAC Mobile office websites soon to be released!

With millions of users accessing mobile content thoug h smartphones and tablets, developing a professional mobile website has never been more critica l for your business. EAC will soon provide cost effective mobile sites for your office, designed to work seamlessly on a multitude of platforms.

Stay tuned for a release date announcement in the comin g weeks.

15

FTB AUTUMN Edition 2012

Guest Feature

Acquisition Of A Rent Roll

By Greg Jemmeson

Jemmeson & Fisher, Solicitors & Accountants

Over the past 18 months to two years there has been a significant increase in the number of rent roll transactions within the real estate marketplace. There are many reasons for this increase in activity from ageing members of the industry deciding to retire, the greater access to funding to acquire rent rolls and also the difficult marketplace that we have seen over the last few years with a number of offices selling their rent roll for liquidity purposes.

One of the greatest risks that we see occurring in the sale or purchase of a rent roll is that there is no standardised agreement for the sale of a rent roll such as the standard contract for sale of land used in the sale of property. The other factor is that the rent roll is an intangible asset and unless a sale is properly managed the outcome for either party can be disastrous.

One area that we find to be very successful is having a clearly defined heads of agreement setting out both parties clear understanding of what the parameters of the sale are. Too often agents will get together and agree on a multiplier as the purchase price, how much the retention amount is and how long the retention period will be for.

This in itself is not enough and just agreeing on these three points alone can lead to further problems as the parties may come up with a multiplier but not clearly identify what the multiplier includes. Then arguments will arise as to whether it includes letting fees or any other fees that may have been processed by the seller as an industry standard and for valuation purposes for the lenders the multiplier is the dollar amount multiplied by the annualised commission returned by that rent roll portfolio.

In regards to the retention it is our experience that this is another area which needs to be clearly defined. Parties need to clearly define what is a lost property and what constitutes not being a lost property. For example, if a property is sold by the purchaser after paying for it normal concepts would be that that is not a lost property subject to a refund from the retention.

However, if the property is sold by another agency then the purchaser would be entitled to be refunded. Other questions arise as to clearly identifying what documentation is required to identify that a property is lost with an example being that a termination notice needs to be received during the retention period but the termination might not take effect until after the retention period expires. In regard to the retention many people ask what is the standard retention period? There is no standard but it is our experience they tend to be getting longer with it roughly being somewhere between three (3) to six (6) months and can be between 10% and 20% of the purchase price. However, where a landlord has multiple properties within a portfolio it may be negotiated for a much longer period for those respective landlords.

Other common mistakes that we see occurring in rent roll sales where parties have not sought appropriate advice is where a settlement has occurred mid month and has not been a correct accounting to landlords. Other situations occur where it has not been taken into account that rent has been paid in advance and this can be a significant detriment to a purchaser where tenants have paid several months in advance and the vendor has accounted to the landlords for that advance rent and drawn their commission.

Another common mistake within agreements is not setting out clearly for a purchaser as to what properties can be rejected for example, a current rent roll portfolio may have an average commission of 7% yet when agreements are sent out they may be returned with a lower rate. Unless the purchaser has a right to reject the lower commission rate they may be forced to acquire the rent roll at a much lower rate which can have significant detriment to the cash flow. It is highly recommended that a preliminary due diligence is conducted to ensure that there is adequate file maintenance including as to whether there are inspection reports, current leases, rental bonds lodged in respect to the property, whether all keys, buzzer, etc and tenant history and landlord history are complete.

It has not been uncommon for parties to incorrectly calculate the settlement figures by incorporating the commission component inclusive of GST and then adding a further GST component for sale. Other important aspects are to ensure that the vendor is properly restrained in respect to the rent roll acquired and a very important point is to ensure that there are no dangers of the rent roll being attacked by former employees. Consideration should always be given by a purchaser to offering employment to the current property managers maintaining the portfolio.

Again we can’t reiterate how important it is to ensure that the parties utilise a properly formed agreement setting out clearly the understanding of the parties as to what is being sold to minimise there being any later problems occurring after the sale which can lead to significant costs to either party including expensive legal costs which would have been avoided by obtaining clear and concise advice from the beginning.

Greg Jemmeson – Jemmeson & Fisher Solicitors & Accountants Tel: (02) 9267 6263

FTB AUTUMN Edition 2012

16

Practice Support

Prescribed time limits Residential Tenancies

By Silvana Ferraro, EAC Agency Practice & Compliance Advisor

Clause 22 of the Residential Tenancies Regulation 2010 (Regulation) prescribes time limits for making applications to the Consumer, Trader and Tenancies Tribunal. You should refer to the relevant section in the Residential Tenancies Act 2010 (the Act) for more details.

Landlord Orders Section in Act

Application

Time limit for applying

Regulation Clause

83(2)(a)

Termination order because vacant possession has not been given as required by the notice

Within 30 days after the termination date specified in the notice

22(2)

98(4)

Order to revoke a termination notice given by a tenant because of a landlord breach, (for instance, landlord has remedied the breach and wishes tenancy to continue)

Within 7 days after being served with the termination notice

22(3)

175

An order regarding the payment of a rental bond

Within 6 months after the bond is paid

22(8)

190

Applications relating to breach of residential tenancy agreement

Within 3 months after applicant becomes aware of breach

22(9)

Tenant Orders Section in Act

17

Application

Prescribed period for applying

Regulation Clause

44(2)

Excessive rent increases

Within 30 days after notice of rent increase is given

22(1)

115(3)

Determination that a termination notice has no effect because it was a retaliatory notice

Within 30 days after being served with a termination notice if given under s.85, (termination of periodic agreement); or Within 14 days in any other case

22(4)(a)(b)

125(3)

An order vesting a tenancy against a person with superior title (e.g. mortgagee) by a person in possession of the premises as a tenant or former tenant holding over after termination

Within 30 days after being given notice of proceedings for recovery of possession of the premises

22(5)

175

An order regarding the payment of a rental bond by a tenant or any other person (including a co-tenant) who has an interest in the payment of the rental bond

Within 6 months after the bond is paid

22(8)

190

Applications relating to breach of residential tenancy agreement

Within 3 months after applicant becomes aware of breach

22(9)

FTB AUTUMN Edition 2012

Orders about goods left in premises Application by former tenant or a person with an interest in the goods Section in Act

Application

Prescribed period for applying

Regulation Clause

134(1)(a)

Order requiring landlord: To pay compensation for goods disposed of by the landlord or agent not in accordance with the Act

Within 30 days after applicant becomes aware that goods have been disposed of

22(6)(a)

134(1)(b)

To pay compensation for goods damaged after being left on premises and before being claimed by the entitled person

Within 30 days after applicant becomes aware that goods have been damaged

22(6)(b)

134(1)(c)

Order requiring landlord or agent: To deliver possession of goods to former tenant or other person

Within 3 months after applicant becomes aware that goods are in the possession of the landlord or landlord’s agent

22(6)(c)

134(1)(d)

To pay the proceeds of sale or an amount equivalent to the value of the goods to former tenant or other person

Within 6 months after the date the residential tenancy agreement is terminated

22(6)(d)

FTB AUTUMN Edition 2012

18

Guest Feature

Tenancy Management - After the sale of the premises

By Margaret Colyer

Information & Compliance Officer Australian Institute of Conveyancers NSW

Regrettably tenancy is one aspect of a real estate transaction which can occasionally be overlooked in the midst of the complicated conveyancing requirements and procedures followed in NSW especially when there are two or three parties acting for the vendor with respect to different aspects of the transaction. It is therefore essential that the vendor, his conveyancer, selling agent and tenancy agent all work alongside each other with clear lines of communication to ensure the smooth handover of the management of the tenancy to the purchaser on completion of the sale or, if the contract requires vacant possession, that the tenant vacates the premises at the proper time leaving the premises in good order.

PRE-SALE The tenancy agent’s role in the sale process begins when they first learn that the property is to be placed on the market. Preferably the information will come from the vendor themselves however in the case of a residential property it may not be until they are contacted by the conveyancer seeking a copy of the current Residential Tenancy Agreement (or other document which created the lease of the property) for inclusion in the proposed contract for sale.

When providing the lease document it is important to ensure that the copy document is both current and complete. Should the document provided be incomplete, the purchaser may be entitled under the vendor disclosure legislation1 to rescind the contract. Further if the lease in the contract is a copy of an earlier lease and the parties have negotiated a vacant possession contract, the Vendor will be in breach entitling the purchaser to terminate the contract leaving the vendor liable to pay damages.

It is also important that the conveyancer be fully appraised of any ongoing problems or non-compliance associated with the tenancy or any alterations that may have subsequently been agreed in writing so that the contract can be amended if necessary. Again, insufficient disclosure in the contract may entitle the purchaser to rescind or terminate the contract. For example: • the tenant is currently in possession of the property under the holding over provisions of an expired lease and the rent has been increased or reduced ; • rent is in arrears and there are unpaid invoices waiting to be paid; • there are outstanding orders and/or notices against the tenant; • there are outstanding order and/or notices against the vendor (eg by the strata plan) • the lease has or is about to expire and the tenant may be unco-operative and/or unwilling to vacate should the purchaser require vacant possession necessitating a longer settlement period in the contract so that there is sufficient time to issue the appropriate notices and have the tenant removed should it become necessary.

If the property is subject to a registered commercial lease the copy lease will be obtained as part of the title search although in the case of a Retail Leases Act premises you may be required to provide copies of the initial disclosure documents and correspondence with the tenant at the time of commencement.

Advise the conveyancer if the tenant is responsible for any of the outgoings on the property (eg council rates, water rates, water usage, land tax, strata levies etc) as this will affect the calculation of the settlement moneys.

POST EXCHANGE Once contracts have been exchanged and the due date for completion is established arrangements should be made with the vendor for the last rental payment made prior to the due date to be retained in the tenancy agent’s trust account so that the rent can be apportioned between the vendor and purchaser on completion.

The tenancy agent should also ensure that all records associated with the tenancy are available for inspection by the purchaser should he so require as provided for in the contract.

Occasionally tenants will jump rather than wait to be pushed.

Should the tenant vacate the premises between the making of the contract and the completion date the vendor’s conveyancer should be advised as soon as possible so that the purchaser can be formally advised and the parties can negotiate whether the property is be left empty or if another tenant is to be found. Also, if the rates, levies and/or taxes for the property have been routinely paid from the rent moneys, any outstanding invoices should be referred to the vendor or his conveyancer for payment so that the vendor does not become liable to pay interest due to late payment.

Where the contract requires vacant possession and the tenancy agent has been instructed to serve notice on the tenant to vacate the agent must do so. If the purchaser contacts the tenancy agent to advise that he has changed his mind and would like the tenant to stay, the purchaser should be referred back to his conveyancer so that formal correspondence can be exchanged between the parties to vary the terms of the agreement. Should the Notice to Vacate not be served as a result of the purchaser’s informal request and the purchaser changes his mind again, he may seek to enforce his right to vacant possession under the contract delaying the settlement or potentially leaving the vendor in default.

POST SETTLEMENT Adjustment of rent can be done by the conveyancers in the settlement calculations however the parties are better served if this is done by the tenancy agent as part of the general winding up / handover procedures as he has access to all pertinent information, paperwork and the money.

1

19

FTB AUTUMN Edition 2012

Conveyancing (Sale of Land) Regulation 2010

A few steps will keep the hand over process simple:

1. Rent adjustment • If possible, ensure the last rent payment made prior to the settlement date is retained in trust so that the apportionment is possible. If an enthusiastic assistant has released the payment to the vendor ensure that the legal reps of both the vendor and purchaser are made aware as soon as possible so that they know to adjust the rent in the settlement calculations. There is nothing more frustrating or embarrassing than having to ask the vendor to give money back after settlement.

• Calculate the adjustment as at the actual date of settlement as notified by the Vendor’s conveyancer.

Under legislation2 and cl. 14.1 of the standard contract the Vendor bears the expenses and receives the profits of the property up to and including the date of settlement.

tenancy agent with the Rental Bond Board in line with legislation and the tenancy agent should arrange for the relevant Change of Managing Agent / Owner form to be prepared and signed by or on behalf of the vendor and either lodged with the Board or provided to the purchaser.

In the case of commercial properties, the bond may be secured by a cash deposit held in a long term deposit or a bank guarantee. Where this is the case the contract requires both parties to do all things reasonable to cause a replacement security to issue for the benefit of the purchaser and the vendor must hold the original security on trust for the benefit of the purchaser until the replacement security issues.

3. Documentation The contract6 also requires that the vendor hand to the purchaser on completion7 :

• The rent adjustment should be calculated on a pro rata basis using a stable base figure such as a weekly or yearly rental figure. If rent is paid monthly, the daily figure should be calculated by multiplying the monthly rent by 12 and dividing by 365 in order to avoid the discrepancy created in the varying number of days in a month.3

• Notice of Attornment addressed to the tenant advising that the property has been sold and directing that all future rent be paid to the Purchaser

• As stated above the Vendor is liable for the outgoings and entitled to the profits up to and including the date of completion. If the tenant has paid any moneys in advance or in excess, it should be credited to the purchaser.

• Copy of any disclosure statement given to the tenant under the Retail Leases Act 1994

If the tenant is in arrears it is best to ensure that the conveyancers for both parties are informed as early in the transaction as possible. For the purposes of the adjustment, cl. 24.1 of the standard contract provides that the outstanding rent is to be treated as if it was paid and the purchaser assigns the debt to the vendor on completion and will, if required, give a further assignment at the vendor’s expense. In other words, the vendor cannot ask the purchaser to act as his rent collector on the assumption that the purchaser will eventually collect this money from the tenant when the arrears are brought up to date.

The vendor is entitled to pursue the tenant for any precompletion arrears however if the tenant does in fact pay such arrears to the purchaser after completion, the vendor is entitled to receive those arrears from the purchaser.

• Failure to Adjust & Readjustment

Ordinarily the doctrine of merger states that all the contractual rights of the parties merge at settlement.

However, under cl. 20 the right to claim adjustments does not merge hence enabling adjustments to be made after settlement. This however can be affected by the actions of the parties at the relevant time4 and a party who fails to seek the adjustment may be deemed to have waived their right to the adjustment therefore the adjustment must be made as soon as possible after completion.

Similarly, any error in the calculation of any of the adjustments may be readjusted provided that the claim is made within the relevant statutory period.

2. Security Bond Under the standard contract5 a vendor must allow, transfer or replace any security bond held in respect of the current tenancy.

Where the premises are covered by the Residential Tenancies Act, the bond will presumably have been lodged by the

• Any certificate given under the Retail Leases Act 1994 in relation to the tenancy

• Copy of any document served on the tenant under the lease and written details of its service if the document concerns the rights of the landlord or the tenant after completion and • Any document served by the tenant under the lease and written details of its service if the document concerns the rights of the landlord or the tenant after completion With the exception of the first item, it is common practice to leave the other documents with the managing agent to hand to the purchaser or the purchaser’s incoming agent after completion. If the purchaser elects to retain the services of the Vendor’s managing agent after settlement, the agent should still ensure that the Notice of Attornment is provided to the tenant as the tenant is entitled to continue paying rent to the vendor until the tenant receives notice of the change of ownership.8 No formal assignment of the vendor’s rights is necessary as between vendor and purchaser as the purchaser has accepted the property with due notice of the tenancy.

Margaret Colyer - Information & Compliance Officer Australian Institute of Conveyancers NSW Tel: (02) 9633 1355 Email: assist@aicnsw.com.au Web: www.aicnsw.com.au

2

Conveyancing Act 1919, (s60 and Third Schedule)

Although cl. 14.7 of the contract requires any adjustment of outgoings to be based on the actual period during which the outgoings are incurred, this refers to the rating assessment periods and it can be argued that the actual rent is fixed for the year which is to be paid by 12 monthly instalments.

3

4

Pallos v Munro (1970) 72 SR (NSW) 507

5

Contract for Sale of Land 2005 - cl 24.4.1

6

Cl 24.4

The provisions of clause 24 do not merge on completion but continue to be in force and of effect so that these documents can be provided as soon as practicable after settlement by agreement.

7

8

Conveyancing Act 1919, s125(2) FTB AUTUMN Edition 2012

20

Technology Review

Do you know where your data goes out at night?

By Don Harb, EAC IT Manager

The most common response that I have heard when I ask “What are you doing to protect your data?” is “Well, I have antivirus and a spam filter.”

We have all heard the saying “Do you know what your children are doing tonight?” and like all people you would say yes, but do you know what your data does at night? Just like parents and their protection of their children, as a business you really need to protect your data and that means all your data. The most common response that I have heard when I ask “What are you doing to protect your data?” is “Well, I have antivirus and a spam filter.” While this is a piece of the puzzle of protecting your data, it is a small part of the total puzzle that you really need to put together.

Data protection has two aspects to it, protecting against data loss and protecting against data theft. As unbelievable as this may sound data loss and data theft are in most cases due to employees. In the case of data loss it is generally a mistake but theft is a deliberate act. While it is impossible to completely protect against either scenario, you can take steps to make sure that the impact to your business is minimised as much as possible.

Part of any strategy to protect your data is backups. Here are some simple backup strategies that can go a long way to make sure your data is protected.

Backup your server! Your server should be a central location for all documents, information and services (email, accounting, etc) that your office uses. A business should at least be backing

21

FTB AUTUMN Edition 2012

up the server every night. Whether you are backing up to tape or external hard drives, the backups from the night before should be removed from the office every day and returned to the office the next day. At the least you should have a 7 day rotation of backups so you are able to go back and restore from the week before. If you want to be more prudent, you can have a weekly, monthly and yearly rotation. If you use a central email server, this can be backed up at the same time.

In a perfect world, backing up your server would be all you would need to do to protect against data loss but most employees will save important documents and information to their desktops. Also, most small businesses will not have a central email server internally so in most cases email will be saved to the desktop as well. So how do you get around this?

Well, you can setup the desktop to have the save location set to a location on the server, but this won’t always work. A simple solution is to setup a Scheduled Task on the desktop to run a backup of the common locations where documents are saved i.e. the desktop or the Documents/email folder and have this backup saved to the server. This can then be backed up as part of your server backup routine.

“What about laptops?” I hear you ask. The great aspect of using a Scheduled Task is that they can be setup to run at different times and have some redundancy in them i.e. they can be setup to run the next time the computer is logged in. In

saying this, the biggest issue with laptops is the fact that they are portable and therefore easier to steal. To minimise risk of information being retrieved from a laptop that has been stolen, make sure that the user of that laptop has a strong password, one that contains letters and numbers and even special characters and that the person using it does not provide their password details to anyone else.

Data access is another area that you need to look when working on data protection. If there is no reason for someone to have access to certain information, then make sure they don’t. All computer systems come with access levels so make sure you use them correctly. You can setup security down to a file level. When setting up a user on your network, make sure you have a clear understanding of what level of access you want them to have.

Client databases are possibly the most important information that any business has. If you are running a CRM system you may back this up as part of your nightly routine if the system is installed on a server in your office. If it is hosted by your CRM provider, they will have a backup routine that will protect you, but it is always a good idea to see if you can run an export of information that you can store on your servers. What about protecting against theft of information from the employee who is about to leave? Here are some suggestions to help protect you against CRM theft and data loss: • A bility to Export Information – Most CRM systems give users the option to export or create reports on client data.

Protect yourself by reducing who has access to this feature and in some cases minimise the information that they can see.

• W ho has access to change information – Only give access to the information that an employee needs to be able to function in their role. Most CRM’s have access levels, so make sure you use it.

• C hanging data – There is always a need to update information but not everyone in your office should have access to do this. Reduce your risk exposure by reducing the number of people that have the ability to add, update or delete information.

• B ackup! Backup! Backup! – Backup this information as much as you can. I cannot put enough emphasis on a good backup routine.

While the above will go a long way to helping you protect your data, another step that will minimise the accidental loss of data is employee education. I find that most companies do not put enough emphasis on the importance and potential disasters caused by staff actions. If you educate your staff on these matters, it will help them to understand their actions and avoid the potential issues they can cause.

As with all aspects of your business, a thorough analysis of your requirements is needed before you undertake any of these tasks. Determine how long you can be without something, what it would mean to you if you lost it completely and how valuable the information would be to someone else. Once you have determined these, you will realise how important that data is to your business and exactly what your requirements will be for all of your data. A little forethought now will save you a big headache in the future!

FTB AUTUMN Edition 2012

22 20

The Form Guide

Your Simple Cost Effective Printed Forms

By Maureen Faapito, EAC Stationery Manager

Why are an increasing number of real estate offices choosing to use EAC’s printed real estate forms? Just a few of the reasons include:

In readiness for our upcoming move we want to reduce some of our stock and from 14 May 2012 to 30 June 2012, we are taking 15% off the following selected forms:

• E AC Real Estate Forms are simple to use and in some cases half the length of other existing real estate forms.

EAC012 – R esidential Sales Inspection Report & Auction Agency Agreement

• C omprehensive selection covering all of the sales and property management forms options

EAC013 –

• More cost effective than other offerings

EAC015 – R ural Sales Inspection Report & Exclusive Agency Agreement

• C olour coded durable pads ensuring ease of recognition and longevity • L egally backed and supported by the Co-operative, ensuring compliance • F ree professional advice on forms related queries and issues from our expert team • A vailable to purchase by online or fax with an approximate 24 hour delivery

esidential Sales Inspection Report & Open R Agency Agreement

EAC016 – Rural

Sales Inspection Report & Open Agency Agreement EAC017 – C ommercial/Industrial Sales Inspection Report & Exclusive Agency Agreement EAC018 – C ommercial/Industrial Sales Inspection Report & Open Agency Agreement EAC019 – C ommercial/Industrial Sales Inspection Report & Auction Agency Agreement

• Additional 10% discount on all forms for EAC Members EAC020 –

usiness Sales Inspection Report & Exclusive B Agency Agreement

EAC021 – B usiness Sales Inspection Report & Open Agency Agreement Our forms are available for pick up from: To obtain an EAC Forms & Stationery order form, contact EAC on 1300 137 161, or simply visit www.eac.com.au and select online store and catalogue from the Forms & Stationery section.

EAC Offices: EAC Head Office - 274 Miller Road, Villawood NSW 2163 EAC Wollongong - Suite 7, Level 1 Burelli Street, Wollongong NSW 2500

EAC Member Offices: Russell Property - 139 Pacific Highway, Charlestown NSW Partners 2290 Coffsproperty

- 4/13-15 Park Avenue, Coffs Harbour NSW 2450

LJ Hooker Lismore - 56 Woodlark Street, Lismore NSW 2480

23

FTB AUTUMN Edition 2012

2013

PRE ORDERS Calendar Year ONLY!

DIARIES

ALL ORDERS MUST BE RECEIVED BY 27th JUNE 2012.

With only limited stock available for purchase after this date.

Features: • • • •

Corporate Diary Magnetic security clasp Silver 2013 foil stamp and stitching Industry relevant information including NSW stamp duty, loan repayment and conversion table guides

• • • • •

Single page per day including weekends Monthly tab dividers Business card keepers Removable telephone and address book Removable notebook

ORDER YOUR 2013 EAC DIARY TODAY! Complete the order form and fax to EAC Stationery (02) 9724 6407

Elite A4 Day to a page Diary - NEW SIZE (260mm X 190mm) STANDARD

PERSONALISED

$32.00 ea $36.00 ea Pick up

MEMBER NON MEMBER

$36.00 ea $40.00 ea Delivery

Postage & Handling - $15 (additional charge may apply for large orders) (All pricing is inclusive of GST)

TOTAL PRICE

$ $ $ $

The Personalisation charge includes 25 characters per line (including spaces) for up to two lines. This means that you can have 50 characters total. If you require personalisation, please advise below of what you wish to appear.

Line 1 Line 2

Name Company Name Street Address Suburb

Postcode

Telephone

Email Customer ID

Account

Cheque

Direct Deposit

AMEX

Credit card number

Expiry Date

Name on card

Signature

VISA

Mastercard

Estate Agents Co-operative Ltd. 274 Miller Road, Villawood NSW 2163 Phone: (02) 9724 6999 Fax: (02) 9724 6407 FTB AUTUMN Edition 2012

CONTACT

Gain more customers and improve your client loyalty by utilising one of the Industry’s leading customer relationship management and marketing tools.

Marketing campaigns

Increase Sales

Reach your contacts

Grow your business

Generate more leads

Monitor leads

Keep in touch

CONTACT Red Square Contact is a web based customer relationship management application that can be accessed anywhere you need it. Personalised login screens with various access levels for sales reps and administrators. Integrated calendar and diary containing your daily tasks and events. Customised reporting with the ability to share action plans, contacts and buyer matching with our multi office environment feature, make Contact a premium office tool. It’s also totally compatible with Red Square.

Contact Database • • • • •

Easily add, sync or import contacts with Google or Outlook Auto- Capture and storage of enquiries from your website Unlimited client categories (Cashed up buyers, prospective landlords, investment buyers ) Client information & tracking features Attach open home or inspection feedback against each prospective buyer to easily prepare vendor reports

Customer Relationship Management • • • • • •

Bulk printing of vendor letters Campaign Manager (monitor effectiveness of your email marketing) Classify contacts according to level of interest.

Attach Action/Correspondence/Trail plans to clients Load all your letters into Contact (thank you for listing, congratulations, etc) Send SMS/Emails to all clients once off or in bulk

Communication • • • •

Generate Window Cards, Just Listed Flyers etc Send 1:1 or 1:Many (bulk) SMS and/or SMS messages to clients Match a prospective buyer against properties matching their requirements Match a listing against your list of prospective buyers

Office Administration/Financial • • • • • • • • • • •

Create login accounts for each staff member Conversion reports and tracking of staff performance Offsite backup tool Franchise/Corporate reporting Source of enquiry reports Advertising Manager Sales Trust & Bank Reconciliation Calculate agent and office commission reports Cash flow forecast reports Track advertising expenses Enhanced Duplicate checking tool for contacts

Call EAC on 1300 137 161 to find out how you can become a Contact powered agent today.

Staff Profile

Chi Hoang - IT Client Liason

By Damien McDonald, EAC Sales & Marketing Manager

EAC Red Square users may be familiar with the voice of Chi Hoang, EAC’s longest serving support staff member, who commenced in the role back in October 2006.

Chi’s laid back attitude does not translate to his dealings with customer support calls as I have a long list of testimonials to back this up. With this said, I recently took the opportunity to ask Chi some questions to give you a better insight to the ‘voice behind the phone’.

What were you doing job wise before working with EAC?

What motivates you to come to work every day?

I was a quality control officer for a soft drink company. Don’t ask. I have no idea what I was doing there.

I like the down to earth, easy going atmosphere. I also like the challenge. Finding out what went wrong and figuring ways around a problem…and my empty bank balance, mostly my empty bank balance.

What are your usual daily tasks as IT Client Liaison?

Answering the phone and providing technical support to our clients on a myriad of EAC products. Support is usually Red Square related but could be anything from import/export of listings, technical eForms enquiries, and even the occasional general PC questions.

27

What sort of hobbies or activities do you like to participate in after work hours?

I hibernate. Lock myself in my dungeon and watch tv shows/ movies/ anime or play games till the sun rises. Then I sleep. Not recommended on weekdays.

Give an example, without naming names, of an interesting situation you have had to deal with on the phone since appointed to your position.

What sort of music do you listen to?

I did get asked how to spell EAC once, does that count?

I’ve honestly never thought that far ahead. If I had to guess, I would say “still hibernating”.

FTB AUTUMN Edition 2012

A bit of everything. Whatever is on the radio generally suffices.

Where do you see yourself in 5 years?

Member Profile

Denise Gillies - PRDnationwide Yamba

By Damien McDonald, EAC Sales & Marketing Manager Each edition of From the Boardroom features a profile of an EAC Member to give you an idea of how they achieved success in their area. This edition features the enigmatic Denise Gillies from PRD Yamba in the Clarence Valley region of NSW. Denise has been a stalwart advocate for the Co-operative since 2005 and currently utilises our Platinum Membership package in conjunction with realestateworld.com.au online and offline advertising.

What is your real estate background?

My experience in real estate began in the property management department when my husband and I purchased Nationwide Realty in 1989.

After a long illness Ron passed away in 1999 and my role changed, growing to encompass all aspects of the business as the agency Principal.

In October 2007, I expanded the business to include a branch at Iluka, the township across the river.

What do you see as the secret to the success of PRDnationwide Yamba?

Effective communication with client base, and attention to detail. Key members of my team have been with me for many years, which gives my agency stability and valuable local knowledge. The committed individuals that make up my team certainly contribute to the success of my agency.

We have a high profile position in the CBD areas of Yamba and Iluka. We believe that the growth of the office is to be achieved by embracing technology and all that it offers in terms of convenience and efficiency for our clients.

How has being a member of the Co operative helped your business?

The resources that EAC is able to provide, including industry knowledge, and associations with other industry areas, is invaluable in keeping my team up to date with legislative changes and agency practice.

I believe that the investment that EAC has made into technology, and keeping up to date with marketing trends will be of great assistance in promotion. The CMA property data and new mapping system are essential to my business both in the sales department as well as property management sections.

The statistics that EAC are able to provide aid us in our promotional activities and being able to track trends in the market.

In your opinion, what is the best feature of Red Square?

We love how the system is “Cloud� based, enabling us to be able to access the data wherever we need to, on the run, on our iphones, laptops or sitting at our desks.

How do you support the industry alternative, www.realestateworld.com.au?

Our office regularly advertises in the glossy publication which is produced for our area.

The presentation of this property guide is of high quality allowing our vendors to showcase their properties to a high standard. The distribution is far reaching allowing us to expose our properties and services to a much larger audience.

The website realestateworld.com.au is also supported by our office, we have our sales, rentals and holiday rental listings advertised on it.

The holiday rentals are also linked to our Yesbookit online booking system, which enables the consumer to check pricing, availability and book in their own time 24/7.

We have just updated our systems to have all of our portal uploads handled through the RedSquare addlist system, which will be a great timesaver.

Where do you see yourself and PRDnationwide Yamba in 5 years?

Relaxing on an idyllic beach somewhere in the Maldives or maybe Fiji with a cocktail in my hand and George Clooney at my side, mmmmm‌. Just kidding.

I have in recent months made a major decision to terminate my agreement with PRDnationwide franchise group.

This will cease from early November 2012.

My business will be operating as an independent agent, and both offices will come under Yamba Iluka Real Estate.

2017 is just too far into the distance for me, however my goal is that my business will continue to grow.

I believe the way we sell real estate will be different, e.g. we will be marketing green homes, and the cost of constructing the conventional home will be out of the reach of the average person. We may start to see many more homes built in modular form, using more affordable materials, however I will continue to embrace the evolvement of the industry.

In spite of any changes to legislation or housing types, customer service will still remain the key element to being a success in real estate.

I know I personally continue to feel a thrill when informing a vendor/property owner that we have achieved the result they were seeking, and noting their satisfaction.

FTB AUTUMN Edition 2012

28

SCAN QR CODE

Red Square Support and Training

EAC prides itself on the level of service and support that it provides. To assist you in the use of Red Square and associated products and services a variety of support resources are available to ensure that you gain the maximum benefit from the services we provide.

Red Square Support Hotline - 1300 137 161 - The Red Square Support hotline provides access to our fully trained support staff. It is important that the support team have an understanding of what you are trying to achieve with our products and to this end we have built a team that consists of not only technical people but also a number of licenced real estate agents.

The Red Square Hotline is available from 8.45 am - 6.00 pm EST Monday to Friday.

Webinar Training - EAC Provides regular Red Square webinar training sessions on all aspects of getting the most out of your Red Square Property Information and Listing Management tool.

Registration is simple and you will have a choice of attending as many or as little 20 minute topical sessions as you require.

Support Direct - For those times when a higher level of support or interaction is required we have GoToMeeting. With GoToMeeting our support consultant can simply send you an email with a link which you click and from there they will be able to see your screen and provide the necessary assitance.

GoToMeeting is also used to perform product demonstrations, webinars and remote product training where necessary.

Dedicated Account Manager - We have several Account Managers located throughout NSW that are responsible for the Members and customers in their respective areas. All Account Managers have been fully trained in all aspects of our services with many having previous real estate experience. Your Account Manager can assist with enquires that you may have in relation to our serivces.

Quick Links and Training Resources – The Red Square Quick Links and Training Resources section is available from the Red Square home page. This section provides access to a series of training documents and interactive videos that will assist you and your staff in getting the best user experience possible from your Red Square Listing Management and Property Information tool.

The Ultimate Digital Signage Window Display

Did you Know ?

1979 saw EAC move from paper based processes to the use of computers for all its operational needs.

In 1982, EAC ran its most successful consumer adverting campaign ever using John Cleese as the draw card to promote Multilist.

It was almost 5 years ago to the day that From the Boardroom went from a double sided A3 brochure to the A4 publication you are reading today.

With real estate buyers conditioned to viewing properties from the comfort and convenience of their computer, traditional card displays are quickly becoming nothing but time-wasting window fillers.

Forward thinking real estate agents who saw the marketing movement toward digital signage are fully reaping the benefits of the set-and-forget technology that effectively maximises office window space with individual dynamic screens.

Australian digital display company iVisual now provides real estate agents with a new and bold window display technology that takes marketing and presentation to a whole new level - the iVisual iWall.

By linking multiple screens, a single image can span a whole array of screens to display on a combined video wall. Listings can be randomly displayed on individual screens with prime listings or corporate marketing being injected into the presentation schedule to display over multiple screens for maximum impact.

For more information visit iVisual.com.au or call 1300 767 116

Welcome New Members

Donley Real EstatJeffrey Donley Jeffrey Donley

Merrick Estate Agents Geanne Merrick

Ray White Glen Innes Casey Grob

Nabiac Real Estate – Hunter Marina Anderson

New Star Canley Heights Peter Ngo

PRDnationwide Orange Nigel Strutt

Chami & Ada Real Estate Gihad Chami

RA Lawrence Blue Mountains Julie Hurdle

Susan Parkes Leumeah Susan Parkes

LJ Hooker Bathurst Christine Curry

Metro Professionals Realty Liverpool Oz Guney

Property Marketing Group Pty Ltd Narellan Aaron Bell

Good View Properties Hurstville Lisa Chen

Infinity Property Agents Alexandria Michael Kurosawa

PRDnationwide Yamba Denise Gillies

KA Leeds Narromine Kerry Leeds

Bob Berry Real Estate Dubbo Bob Berry

Wiseberry Liverpool City Funkgy Intan

31

FTB AUTUMN Edition 2012

EAC Contact List

Estate Agents Co-operative Ltd. Phone: (02) 9724 6999 ABN 52 079 055 637 Fax: (02) 9724 6407 274 Miller Road Email: innovations@eac.com.au Villawood NSW 2163

Membership Services Phone: 1300 137 161

Fax: (02) 9724 6407 Email: membership@eac.com.au realestateworld.com.au Publications Phone: 1300 789 675

Fax: (02) 9724 6260 Email: publications@eac.com.au Red Square & realestateworld.com.au Website Support

Phone: Email:

1300 137 161 redsquare@eac.com.au

Web Design & Development Phone: 1300 137 161 Email: webservices@eac.com.au Real Estate Forms & Stationery Phone: 1300 137 161 Email: stationery@eac.com.au Compliance & Practice Support Phone: 1300 137 161 Email: practicesupport@eac.com.au Training Services Phone: 1300 818 874 Email: training@eac.com.au

www.eac.com.au www.realestateworld.com.au

FTB AUTUMN Edition 2012

32

EAC & realestateworld.com.au Account Managers

For the information of EAC members and Subscribers we have included your EAC Account Manager’s contact details below.

MEMBERSHIP SALES Ross Graham 0427 741 956 rgraham@eac.com.au Sales Manager - Membership Services

Pat Royce 0425 257 485 proyce@eac.com.au

Victor Baptista 0434 155 886 vbaptista@eac.com.au

Kitra Brennan 0425 389 715 kbrennan@eac.com.au

To confirm your sales representitive please contact EAC Membership Services on 1300 137 161 or email membership@eac.com.au

33

FTB AUTUMN Edition 2012

MEMBERSHIP SUPPORT Phyllis Devereaux 1300 137 161 pdevereaux@eac.com.au Sales Support Officer

Joanna Bartlett 1300 137 161 jbartlett@eac.com.au Sales Administration Officer

PUBLICATION SALES Malcolm Walsh 0425 332 151 mwalsh@eac.com.au Area of Operation – Illawarra

Jon Casey 0434 155 888 jcasey@eac.com.au Area of Operation – Northern Rivers

Ray Chippington 0425 267 596 rchippington@eac.com.au Area of Operation – Mid North Coast & Clarence Valley

FTB AUTUMN Edition 2012

34