From the Boardroom

SUMMER EDITION 2012

Get up to date

with our Industry Update Seminars Page 11

A real estate agent’s duty to disclose Page 13

2012 Red Square Technology So where are we headed?..

Page 09 ALSO AVAILABLE TO VIEW ONLINE AT EAC.COM.AU

FTB SUMMER Edition 2012 Index

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03

The Chairman’s View - Dale Whittaker

04

In the Pipeline - David Crombie

05

Compliance Matters - Geoff Hunter

09

Red Square Technology - Damien McDonald

13

Practice Support - Silvana Ferraro

16

Guest Feature - Adam Gibbs

17

Around the Traps - Damien McDonald

19

Technology Review - Don Harb

21

The Form Guide - Maureen Faapito

25

The Prodigal Son - Damien McDonald

26

EAC Christmas Party

27

Guest Feature - Russell Taylor

29

Staff Profile - Damien McDonald

31

Member Profile - Damien McDonald

39

Welcome New Members

40

EAC Contact List

41

EAC & realestateworld.com.au Account Managers

FTB SUMMER Edition 2012

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2

The Chairman’s View What’s Ahead for 2012

By Dale Whittaker, EAC Chairman

The new year has arrived and as usual it is full of predictions, so I thought I would throw mine in as well and we can all judge their accuracy as the year progresses.

Obviously some of the factors that are going to affect our property markets are how the R.B.A. reacts to our two speed economy, the European debt crisis and its impact on financing overall, with a general tightening being likely and I believe, more importantly, how both of these impact on the confidence of the average consumer.

With almost 100% of economists agreeing, it seems a reasonably safe bet that the R.B.A.’s first meeting of the year in February will deliver another cut in official rates. Interestingly the ANZ Bank in particular has disengaged from this cycle and is announcing its own rate decisions each month prior to the R.B.A.’s monthly meeting. They cite other global funding issues being equally important as the R.B.A.’s official cash rate in defending this decision. January is the first month for these announcements so it will be interesting to see how they move, but with competition increasing within the banking sector generally I think we will see rates fall over the year, which can only be a good thing for our industry as a whole.

The European debt crisis still has a long way to go in my opinion, with many twists and turns throughout the year to come. I am neither wise enough or game enough to predict the eventual outcome but I am sure the constant reporting of this major bad news story in the media will continue to have a negative impact on consumer confidence generally as well as share prices across most sectors. It is this lack of consumer confidence that looms as a major threat to the year ahead, not just for our industry but the economy as a whole.

The State Government decision to remove the Stamp Duty concession for first home buyers of existing homes saw a rush of activity from this sector at the end of last year, but if history is any guide I don’t expect we will see many first home buyers now for the next 6 months or so, as was the case when the government removed the extra $7,000 first home buyers

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FTB SUMMER Edition 2012

grant a couple of years ago. These types of incentives tend to bring demand forward and then leave a hole when they are removed.

On a positive note I believe we should see strong demand from investors with rents continuing to climb and vacancy factors at near record lows in most areas. This is leading to increased rental yields generally and in a number of cases, positively geared investments. This trend is likely to continue, particularly if capital growth is subdued and interest rates continue to fall. It may also see some frustrated renters “bite the bullet” and look to buy, particularly if affordability improves.

Over the whole state I feel the market is likely to remain patchy, some areas doing well while others struggle. Local issues will have an impact as the floods in the Northern Rivers area and the mass layoffs by Bluescope in the Illawarra did during the year just past.

So it looks like a year of both challenge and opportunity, and I personally hope that we can assist our members meet those challenges and capitalise on the opportunities going forward with our cutting edge technology, cheaper prices and great staff giving great service.

All the best for the year ahead.

In the Pipeline

What’s Happening at EAC

By David Crombie, EAC Chief Executive Officer

Welcome to the first edition of From the Boardroom for 2012 and if your last year was like mine it was like we blinked and 2011 was gone.

On a pleasing note we are able to announce that the Cooperative reported a profit of $658,695 in the last financial year.

This figure is the consolidated result for EAC and realestateworld. com.au and included things such as the sale of the Wollongong building and the bringing of realestateworld.com.au Pty Ltd into EAC which will be completed this year. If you would like to know more download our Annual Report at eac.com.au.

The past few months have been very busy on several fronts and I see this continuing as we roll out some of the planned infrastructure and product changes in the first and second quarter of this year.

With the sale of our property in Wollongong we had to find a suitable replacement office and this has now been completed with the move taking place in late November. Settlement has now also occurred on the Villawood property and we have leased back the premises on a twelve month lease while we look for new premises to purchase. We are looking in the Parramatta and Silverwater areas and have looked at a few buildings but have not yet found anything suitable.

In early December we had a meeting with the Minister for Fair Trading Anthony Roberts and some of his staff. At the meeting we raised several items and issues that we believe are important from the industry’s perspective including Professional Indemnity Insurance, National Licensing, CPD, Forms and the proposed changes to Short Term and Holiday Letting. It is our intention to provide an update, on some of these items and the feedback that we received, in the forthcoming road shows that we are holding in February.

In the first quarter of 2012 we will be rolling out several updates to our services. These will begin with an update to Red Square Web and Mapping which will include several enhancements and the inclusion of some twelve new reports including brochures, flyers and booklet style reports.

it is just not limited to the iPhone. With Red Square Mobile finished we will then turn our attention to a mobile version of realestateworld.com.au and agent web sites for consumers.

The realestateworld.com.au web site continues to grow and we have experienced significant growth in the past six months.

During this time we have seen a 70% increase in offices coming on board, a 60% increase in listings and, with the new content, an increase in the visitors to the site. We continue to add new feeds into and out of our system and of note is the recent addition of an upload by the LJ Hooker network to the site.

I would like to thank and congratulate the members and agents in the Mid North Coast, Clarence Valley, Far North Coast and Illawarra areas for their continued support of their realestateworld.com.au publications. The Christmas editions saw two new records being achieved with 124 pages in the Mid North Coast and Far North Coast and 156 pages in the Illawarra - and those pages are all real estate, not editorial and fill as you find in many of our other competitors publications.

These figures just go to show what can be achieved when the agents in an area work together.

All the best for the new year and lets hope that some of the predictions for the property market this year don’t eventuate as I understand many of you are already doing it tough out there. If EAC can assist in any regard we will be here continuing to do our best for you and the industry.

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 coming along nicely and it has been developed from scratch and of note are the changes to the Business and Commercial Industrial For Sale and Lease sections.

February will also see the launch of Red Square Communicate which is a very powerful newsletter solution. For more information see the articles later in this publication.

By the time you read this, Red Square Mobile would have been released for beta testing to a select number of users.

Red Square Mobile will provide Listings, Property Information and Current Market Information searches on your phone and

FTB SUMMER Edition 2012

4

Compliance Matters

By Geoff Hunter, Industry Liaison and Compliance Advisor

Contracts and Deposits - Agents Should Be Ready, Willing And Able

When it comes to “filling up” the contract in preparation for exchange remember that an agent can only complete the details inside the “black box” on the front page.

Many agents properly and correctly participate in the process of exchanging contracts either with a cooling off period for residential property or immediately following a sale by auction of property in all categories.

These details are: Inclusions

Exclusions

Purchaser(s)

Purchaser’s Solicitor/Conveyancer

Purchase Price, Deposit Amount and Balance

Contract date

The great majority complete this process without error but there are some stunning examples of very costly mistakes being made.

Here are some simple procedures to follow to avoid those mistakes: • When you receive the contract in your office ensure that the necessary documents are annexed as required. (Page 2 of the Standard Contract for Sale has the checklist) • Ensure that the attachments are the relevant ones for the property. It is not uncommon to find the wrong S.149 Certificate or Sewerage Diagram – make sure they are for the right address and not missing any pages.

• Check the original against the counterpart to ensure they are exactly the same. One missed page can destroy the integrity of the document and provide the opportunity for the purchaser to rescind.

• Be particularly careful when photocopying- always check the result no matter how tedious it may be.

• Check both the “Inclusions” and “Exclusions”. Are they as nominated by the Vendor and do they match your understanding?

• Check that the vendors name(s) and property particulars are correct.

• Check that all lots are identified. Particularly important when selling Strata property. Units, car spaces, garages and store rooms may be separate lots in the Strata plan, make sure they are all included.

• Are you selling with vacant possession or subject to tenancy?

If tenanted the details must be included, (copy of lease).

• Settlement time, is it as you expected?

• Check the GST status; if applicable make sure you fully understand the implications and discuss with your client and their solicitor (and accountant if necessary).

WARNING: Do not give GST advice to prospective purchasers or anyone else for that matter - they must seek their own advice.

• Are the improvements properly represented on the contract?

Whilst some of the details are strictly not your “responsibility” as such you do need to check to make sure there is no confusion.

Let’s face it – a simple mistake or a missing page can provide the opportunity for the purchaser to rescind and have their deposit refunded, cost the vendor a sale and cost you your selling fee. If the mistake is a result of your negligence then legal action will almost certainly follow and you can be sure that it will be very costly!

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FTB SUMMER Edition 2012

Some Handy Tips • Have the purchasers write their full name(s) and address on a separate piece of paper together with their solicitor’s name and contact details BEFORE you fill these in on the contract. This avoids making errors and then also avoids very untidy corrections.

• Do the calculations for purchase price, Deposit and Balance separately also. Have someone else check the maths to ensure you are correct, and then fill in the contract.

Deposit Danger Zone The deposit must be as shown on the contract, normally 10%.

On no account should an agent alter the amount of the deposit without written instruction from the vendor’s solicitor or conveyancer. If a purchaser is seeking to pay a deposit less than the amount stipulated in the contract then it must be agreed before the auction or before negotiations are finalised and the agent so authorised in writing.

This also applies to an exchange with a cooling off period for residential property. Some agents have adopted the practice of amending the contract to reflect only .25% as the deposit.

This is completely incorrect.

The obligation on the purchaser is to pay the full deposit as shown on the contract, normally 10% and then to forfeit .25% of the purchase price if they cool off.

You as agent have both a duty and serious obligation to collect the full deposit as nominated. Failure to do so can expose you to legal action and a potential financial minefield.

In the same way agents MUST NOT delete, add, alter or amend in any way any clauses or special conditions in the contract, and this includes the completion date, without first having written instructions from the vendor’s solicitors.

SIGNING TIME • Have the vendor sign the front page of the original contract and then initial each page, including attachments. It is also good practice for them to initial the purchase price and deposit in the margin.

• The purchaser(s) sign and initial the counterpart contract in the same way.

• Signatures need to be witnessed on the front page.

• Have both parties sign the appropriate “authority to exchange” document.

• Physically exchange the contracts by handing the one signed by the vendors to the purchasers and vice versa.

Once this has occurred the parties can choose to give the contract back to the agent to forward on to the respective solicitors. This is provided for in the ‘Authority to Exchange’ document.

The law provides the right for agents to participate in the exchange of contracts in certain circumstances and it is in the best interests of all parties that this process occurs efficiently and without confusion and error.

Principals and their staff should feel confident in this participation, by following the simple checklist and by not stepping outside the rules will ensure that this level of confidence is achieved.

Continued next page

FTB SUMMER Edition 2012

6

Compliance Matters Continued

Proper Service Of Agency Agreements Protecting Your Commission A Guide For Property Managers And Salespeople Protecting your commission and expenses by proper service of your agency agreement on the principal is a relatively simple process which should be followed by property managers and salespeople alike. The same rules apply to all agency agreements without exception.

Not to follow these rules can be a risky and expensive practice, a quick look at the legislation will assist.

Section 55 of the Property, Stock and Business Agents Act 2002 (the Act) provides, inter alia, (i) a licensee is not entitled to any commission or

expenses from a person for or in connection with

services performed by the licensee in the capacity

of licensee for or on behalf of the person unless: a) the services were performed pursuant to an agreement in writing (an agency agreement) signed by or on behalf of: (i) the person, and (ii) the licensee, and b) The agency agreement complies with any applicable requirements of the regulations, and c) A copy of the agency agreement signed by or on behalf of the licensee was served by the licensee on that person within 48hours after the agreement was signed by or on behalf of that person The methods prescribed for service are: For an individual (i) delivering it personally (ii) leaving it at the person’s place of residence, or at

an address provided in the agency agreement

with a person who apparently resides there and who

has apparently reached the age of 16 years (iii) posting it to the person at this residential address (iv) by facsimile For a body corporate: (i) Delivering it personally to the secretary of the

body corporate or any of the persons concerned in

the management of the body corporate (ii) Leaving it at the body corporate’s principal place

of business with a person who is apparently

employed there and apparently reached the age

of 16years (iii) Posting it to the body corporate at the address of

its principal place of business or postal address, as

disclosed in the agency agreement (iv) by facsimile

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FTB SUMMER Edition 2012

Note: Email is not recognised as a method of service.

In a broad sense this means that if you neglect to properly serve a copy of the agency agreement on the principal then any claim by you to recover any commission or expenses or any response by you to a consumer claim for the same items could fail.

This was certainly the case with the previous (1941) Act, but fortunately with the introduction of the new Act in 2002 courts or tribunals have now been given some specific discretion.

Section 55 (4) of the Act provides that a court or tribunal: “may order that the commission or expenses concerned are wholly or partly recoverable despite a failure by the licensee to serve a copy of the relevant agency agreement on the person within 48 hours….”

To make such an order section 55 (5) requires that the following conditions are satisfied: a) the failure was occasioned by inadvertence or other cause beyond the control of the licensee, and b) the commission or expense recoverable are in all the circumstances fair and reasonable and c) failure to make the order would be unjust That is the environment in which we operate. Best practice would dictate that agents have proper systems and procedures in place to ensure that (i) proper service is effected, and (ii) adequate records are kept so that service can be proven if you are required to do so.

The following simple steps will safeguard your commission: (i) When a copy of the completed agreement is handed to the principal at the time of signing ask them to provide an acknowledgment. This can be a simple notation on the agreement such as “a copy of the Agency Agreement was received at the time of signing,” then signed and dated by the principal (ii) In addition to the above, when returning to your office arrange for a confirmatory letter to be sent simply noting that “a completed copy of the agency agreement was handed to you at the time of signing” or “a completed copy of our agreement is enclosed” (iii) Ensure that the appropriate entries are made in your mail register, a copy kept in the owner’s file and the sales file checklist marked accordingly (iv) Keep a copy of a facsimile transmission report if using that method (v) Retain any documentation if using registered post or courier delivery

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Red Square Technology

So where are we headed in 2012?

By Damien McDonald, EAC Sales & Marketing Manager

As David Crombie alluded to in his article, 2012 will indeed see Red Square developing into an integral part of your office sales & marketing mix, with a significantly enhanced user experience, as well as containing all your essential daily office tools in one location.

By the time you read this article you may have already seen some of the new features and enhancements mentioned below, but I can assure you that these are just the tip of the iceberg and future e-marketing product updates will change the way you have previously viewed Red Square Web (RSW) like never before.

Red Square Mobile (RSM) is due for release early 2012 and is currently in beta testing. RSM will allow you all the Red Square searching functionality direct from your smart phone. Unlike some other offerings RSW automatically adjusts itself to match whatever device view you are using and is not restricted to just the iPhone or iPad devices.

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FTB SUMMER Edition 2012

MOBILE

You can log onto RSM using your current User Id and password anywhere where there is internet access.

The Red Square Mapping tool will become, in most cases, the starting point for any property related search with the ability to locate property, perform radius searches and launch Neighbourhood Reports directly from the maps themselves.

Additional developments include modifications to the map zoom, highlighting additional property lots, selection of boundary measurements as well as map background colour and frames.

Red Square Communicate allows you to create meaningful property e-newsletters in 5 minutes. Educate your buyers and sellers in addition to generating more property sales with this essential e-marketing tool.

After almost 12 months of development based on agent feedback, Red Square Add list has been completely redeveloped from the ground up. Due for release mid 2012 this completely web based program will allow you to edit, preview, upload and monitor activity of your stock lists like never before.

Also included is a facility to create QR codes for each of your listings for use in offline property adverting. The commercial property category changes will definitely impress commercial agents.

Red Square Contact has been developed in association with one of Australasia’s leading real estate CRM providers, is fully integrated with all Red Square modules and is in its final stages of development. This essential office tool will change the way you have traditionally used Red Square in the past.

Stay tuned for more Contact updates soon!

In 2012 you will have the ability to request a set of Red Square report templates completely customised and branded to your office colours, corporate guidelines as well as office information. You will also be provided with an extended series of web based reports as standard that will fulfil all the functionality of the soon to be discontinued application based report writer.

Listing and booklet style marketing reports will make offline and email property advertising easier than ever before.

FTB SUMMER Edition 2012

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2012 INDUSTRY UPDATE SEMINAR A must attend event for Agency Principals, Sales & Property Management Staff You are invited to attend this not to be missed practical seminar conducted by Geoff Hunter, EAC Industry Liaison Officer together with several industry experts on issues and developments affecting your business in 2012.

1. INDUSTRY UPDATE Need to know information to ensure your office is on top of the latest Industry issues • •

• • • • • •

EAC meets with the Hon Anthony Roberts, Minister for Fair Trading National Licensing: Progress report on the proposed deregulation of Commercial/Industrial, Holiday/Short-term letting, Livestock. Proposed merging of Stock and Station licence with Real Estate licence and other matters Proposed voluntary Code of Conduct for Short-term and Holiday letting agents Proposed amendments to the NSW Property, Stock & Business Agents Act 2002 Professional Indemnity Insurance Mandatory energy disclosure: Residential building efficiency rating CPD training and entry level standards, what are the rules?

Traineeships; Commonwealth Gov’t funded - qualified and experienced staff. By courtesy Think Real Estate

2. AGENCY PRACTICE SUPPORT Get the latest practical advice on topics relevant to your business •

• • • • • • • • • •

Agency liquidity problems: “What steps can I take when cash flow dries up and my business is facing liquidity problems?” By courtesy Greg Jemmeson, Jemmeson & Fisher, Solicitors and Accountants Employment Issues, Unfair Dismisal, Discrimination and OH&S. By courtesy Greg Paterson, REEF Disclaimers: an important tool if used correctly - not ‘a get out of gaol card’ Agent liability at Open for Inspections: Professional Indemnity and OH&S Effective cause: Is it an introduction or the effective cause?

Co-appointments: often done - can be risky - is it a prudent practice?

Exchanging Contracts: avoid costly mistakes Commercial/Retail leasing: common mistakes and pitfalls Mortgagee in possession: what does it mean to your agency agreement?

Solar power rebates: is the landlord entitled to the rebate?

CTTT decisions: recent decisions of interest

3. TECHNOLOGY & MARKETING UPDATE Take your business to the next level and learn first-hand how to build your brand locally, regionally and nationally • • • • • •

Are you fully utilising your customer database?: e-marketing strategies 101 Social Media: Wouldn’t YOU like to know what THEY are talking about?

Office Websites: Is it the ‘be all and end all’?

QR Codes: Love them or hate them, and most small businesses admit they just don’t understand them, QR codes are changing mobile web space in a big way.

Property Information: We all need it, so what’s new in 2012?

WWW: Property portals update.

Can I Earn CPD Points for Attending?

Yes, you will be eligible for 4 CPD points under learning category 2. EAC will forward a certificate to you on request.

How Much will it Cost?

Free admission for EAC Members and $25 for Non-Members

Don’t Forget that Seats are Limited!

Seminar registration will close when allocation is reached. Get in early to avoid disappointment.

MORE INFORMATION Contact EAC Membership Services on 1300 137 161 during business hours.

INDUSTRY SEMINAR DATES, TIMES AND LOCATION DETAILS DATE WEEK 1 Monday, 6th February

TIME

AREA

VENUE

9:00am - 11:30am 3:00pm - 5:30pm 10:00am - 12:30 noon - QLD Time 3:00pm - 5:30pm

Coffs Harbour Ballina Tweed Heads Lismore

Coffs Ex Services Club Ballina Beach Resort Seagulls Lismore Workers Club

9:30am - 12.00 noon 3:00pm - 5:30pm 9:30am - 12.00 noon 3:00pm - 5:30pm 9:30am - 12.00 noon 3:00pm - 5:30pm 9:30am - 12.00 noon 3:00pm - 5:30pm 9:30am - 12.00 noon 3:00pm - 5:30pm

Port Macquarie Forster Newcastle Central Coast St George Wollongong Dee Why Cammeray Eastern Suburbs Parramatta

Quality Resort Sails Club Forster Newcastle Jockey Club Central Coast Leagues Bexley RSL Club Fraternity Club Dee Why RSL North Sydney Leauges Club Bondi Parramatta RSL

Tuesday, 21st February

9:30am - 12.00 noon 3:00pm - 5:30pm 9:30am - 12.00 noon

Bomaderry Batemans Bay Merimbula

Bomaderry Bowling Club Catalina Country Club Merimbulla RSL

Wednesday, 22nd February

9:30am - 12.00 noon

Queanbeyan

Queanbeyan Kangaroo RLF Club

Thursday, 23rd February

9:30am - 12.00 noon 3:00pm - 5:30pm 9:30am - 12.00 noon 3:00pm - 5:30pm

Albury Wagga Goulburn Bowral

Albury Manor House Commercial Club Goulburn Solders Club Scottish Arms Hotel

9:00am - 11:30am 3:00pm - 5:30pm 9:00am - 11:30am 3:00pm - 5:30pm

Orange Dubbo Inverell Tamworth

Orange Ex Services Club Dubbo RSL Riverside Restaurant West Diggers Club

Tuesday, 7th February WEEK 2 Monday, 13th February Tuesday, 14th February Wednesday, 15th February Thursday, 16th February Friday, 17th February Week 3 Monday, 20th February

Friday, 24th February Week 4 Tuesday 6th March Thursday, 8th March

How do I Book?

Register online for a seminar in your area at www.eac.com.au select the Upcoming Events link on the homepage.

Events Link QR Code

Practice Support

A Real Estate Agent’s Duty To Disclose

By Silvana Ferraro, EAC Agency Practice & Compliance Advisor

Real estate practitioners are well aware that as agents, they have a fiduciary relationship with their client (the principal) and the obligations arising from this position of trust. An agent has a duty to act in the best interests of their client and to deal ethically with all parties involved in property transactions.

The Property, Stock and Business Agents Act 2002 (PSBA Act) and Regulation 2003 (the Regulation) require the agent to make certain disclosures to consumers when dealing in a property sale transaction. The aim is to make the client aware of potential conflicts of interest that the agent may have.

In a sale transaction, agents may refer clients and prospective buyers to service providers such as solicitors, finance providers and the like. When an agent is dealing with vendors and buyers, the PSBA Act requires an agent to disclose the following.

Relationships and benefits (PSBA Act section 47) An agent or salesperson must disclose to their client for whom they are acting or where applicable a prospective buyer any personal or commercial relationship they have with anyone to whom they refer the client or prospective buyer to for professional services. A buyer’s agent must disclose to their client (the prospective buyer).

Details of what must be disclosed • Any relationship and the nature of the relationship (irrespective of whether the agent receives a referral fee or benefit) the agent has with any person or firm to whom the agent refers the client or prospective purchaser to for professional services associated with the sale or purchase.

Under this requirement, the benefit (monetary or otherwise) that must be disclosed is not the fee charged by the service provider to a client for a service. What must be disclosed is any additional benefit that the person will receive based upon the successful sale or purchase of the property, for example, commissions to a property marketing company, or a success fee. Other examples include: • fees, commissions or remuneration which will be paid to another agent • fees, commissions or remuneration paid to financial institutions, finance brokers, financial advisers • marketing, advertising and promotional costs that depend on the sale of the property.

Examples of a service provider includes (not exhaustive) a legal practitioner, financial broker, financial provider, financial adviser, insurer, building consultant, pest inspector, property valuer and real estate agent, (for instance a conjunction agent).

How to make the disclosure The disclosure must be made using the approved (prescribed) form, Section 47 form and must be given and acknowledged by the person to whom it is given at the time that the referral to the service provider is made and before the contract for sale is entered into.

A maximum penalty of 200 penalties units (currently $22,000) applies for a breach of this section.

Examples of the relationships that must be disclosed: (a) family relationship (b) business relationship, other than a casual business relationship (c) a fiduciary relationship (d) a relationship in which one person is accustomed, or obliged, to act in accordance with the directions, instructions or wishes of the other.

Download the Section 47 form at:

• Any benefits, money or other form, the agent expects to receive as a result of the referral and the amount or value of the benefit. If there is no benefit, you write ‘Nil’ in the appropriate space. In some circumstances, you may need to make a reasonable estimate.

General rules of conduct – referral to service provider

• The amount, nature or value of any benefit of which the agent is aware that the service provider receives or expects to receive in connection with the sale or purchase, or for promoting the sale or purchase, or for providing a service in connection with the sale or purchase. What does this mean

13

you may well ask? This requirement is not as straightforward as those above however information available on the Fair Trading NSW website does assist in clarifying its meaning and is summarised below.

FTB SUMMER Edition 2012

www.fairtrading.nsw.gov.au > About us > Forms > Property services forms > scroll down to operational forms www.eac.com.au > eforms > create a form page > OFT Prescribed Forms and Fact Sheets tab

Schedule 1 of the Regulations applies to all real estate agents so the obligation to disclose extends beyond the sales transaction to all other property transactions, such as property management.

If an agent refers a principal or prospect to a service provider, rule 12 prevents an agent from falsely representing that the service provider is independent of the agent. If the agent will

receive a benefit for the referral or they have a relationship with the service provider, then the nature of the relationship and the amount of benefit must be disclosed.

Restrictions on obtaining beneficial interest in property (PSBA Act s49) A real estate agent or salesperson acting for a client on the sale of their property is prohibited from obtaining or being involved in obtaining a beneficial interest in a property without providing the required disclosure. Obtaining a ‘beneficial interest’ includes: • buying a property • obtaining an option to purchase • being granted a general power of appointment in respect of property.

An agent or salesperson is considered to obtain a beneficial interest if the interest is obtained by: • the agent or salesperson or a close relative • a corporation, firm or partnership of which the agent or salesperson or a close relative is involved • a discretionary trust of which the agent or salesperson or a close relative is a beneficiary • a person involved in a business relationship with the agent or salesperson or a close relative.

Examples of a close relative: • a spouse • an existing or former de facto partner • a child, grandchild, sibling, parent or grandparent

How to make the disclosure The disclosure must be made using the prescribed Section 49 form. An agent or salesperson is prohibited from obtaining a beneficial interest in the property unless: • their client (vendor) has given consent in the prescribed form before the beneficial interest is obtained • the agent or salesperson has acted fairly and reasonably in obtaining the interest • if a commission is payable to the agent by the client, the client has consented to the commission to be paid in the prescribed form.

The penalty for a breach of this section is a maximum of 200 penalty units (currently $22,000) and/or 2 years imprisonment.

Download the Section 49 form at: www.fairtrading.nsw.gov.au > About us > Forms > Property services forms > scroll down to operational forms www.eac.com.au > eforms > create a form page > OFT Prescribed Forms and Fact Sheets tab

Continued next page

FTB SUMMER Edition 2012

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Practice Support Continued

Disclosure of relevant interest in advertisements

Other disclosures - in brief

(PSBA Act s50) Schedule 2 of the Regulations - Rules of conduct If a licensee (a holder of a licence) has an interest in a property that they are selling (e.g. they own it), the relevant interest must be disclosed in any advertisement published in connection with the property, (this includes the signboard). A licensee has a relevant interest if: • the licensee is the owner of the property • the licensee is a corporation and a director of the corporation is an owner of the property • the licensee is a director of a corporation and the corporation is an owner of the property

Disclosure in agency agreements of rebates, discounts or commissions (PSBA Act s57) An agent is not entitled to recover any expense in connection with a real estate transaction claimed under the agreement unless the agent has disclosed in the agency agreement that they may receive rebates, discounts or commissions in respect of those services e.g. advertising rebates. The source and estimated amount of them to the extent that the amount can reasonably be estimated must be specified in the agreement.

If no rebates, discounts and commissions are received, write ‘Nil’.

Disclosure of financial and investment advice (PSBA Act s46 and Regulation, clause 10) If an agent gives general financial advice in connection with the sale of purchase of land, they are required to give the following warnings and information: • warnings that the advice is general and does not take into account the person’s individual circumstances or objectives • warnings that intending purchasers should assess the suitability of any investment in the property in light of their own individual needs and circumstances, which they can do themselves or by consulting an appropriately licensed person • information that discloses any conflicts of interest and the nature of the conflict the agent may have in connection with the provision of the advice (for example, entitlement to commission or referral fees).

Agents need to keep in mind that insurance is considered a financial service and unless an agent is authorised in accordance with the Financial Services Reform Act 2001, an agent is limited in what they can say and do in respect of insurance.

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Rule 3 - An agent must inform a principal (vendor) of an offer in writing.

Rule 5 - (i)

(ii)

(iii)

An agent must inform a vendor when a deposit has been paid.

The agent must inform the prospective buyer of any subsequent offers that are received and inform the person that they have the right to make further offers until exchange of contracts The agent must inform a prospective buyer in writing (may be on the receipt) when paying a deposit (expression of interest, partial, holding) that the vendor has no obligation to sell the property and the purchaser to buy the property and that the deposit is refundable if the contract is not entered into.

The above information is general information only and is not provided as legal advice. The relevant legislation should be reviewed to ensure that disclosure requirements are met in all circumstances.

Sources: www.fairtrading.nsw.gov.au > Property agents and managers > Rules of conduct > Conduct requirements > Duty of disclosure Property, Stock and Business Agents Act 2002 Property, Stock and Business Agents Regulation 2003

Guest Feature

Good advice in an uncertain market

By Adam Gibbs, Somerville Laundry Lomax Solicitors

From my point of view the silver lining in the current gloom is that vendors finally realise the worth of a good agent.

As a solicitor predominately dealing with conveyancing matters I have noticed that as the market has contracted the market share of the leading agents has in fact increased.

Although the volume of property being sold can, and does, bring a tear to the eye when compared to the heady days of 2007 the decreased number of sales has finally seen the worth of a good agent realised.

The property market now appears to be filled with those for whom selling is either forced necessity or a clear and determined choice to move on to the next phase of life. The speculators who wanted $100,000 more than the identical house next door (sure your house is certainly superior!) now realise that the hollow promises of many are no match for the accurate and reasoned opinions given by an experienced agent.

For many years when asked my opinion with whom a client should list I gave a few select names. After your advice is rejected time and time again because “Johnny Come Lately Real Estate said he could get me a million dollars” it’s easier just to say nothing, after all when they came back after 6 months of no inspections and no offers no-one likes to hear “I told you so”!

From my point of view the silver lining in the current gloom is that vendors finally realise the worth of a good agent. This means that the deals that come across my desk are well negotiated which means they tend to fall over less often. The other, and somewhat more amusing, upside is that agents actually mean it when they say “Is there anything I can do?” I guess we can thank their overdrafts for that!

short sleeved collared shirts…). The professionalism that was created when real estate became a big business has been a blessing. The absence of blue tack and sticky tape in the windows of the agencies is certainly an improvement to main streets all over the country however those that have benefitted the most are those that take the technological advancements and the benefits of formalised training and marry them with the more indefinable talents of years past.

I tell my clients that they should never feel sorry for a real estate agent however in recent months the level of animosity and mistrust towards the industry has abated. Personally I think the average punter realises that the industry makes less than it used to and that the agents that have survived are the good guys. In any business the best client is a repeat client. Repeat clients mean that a relationship has been formed. Success is not due to a percentage point reduction in commission nor is it based upon a hollow promise on what a property is worth but rather it built on relationships and results.

So what can be gleaned from this loose collection of anecdotes, opinion and general observations? Well personally I believe that the cheapest parachute is not necessarily going to be the best. I understand good value and feel that it should be earned but first look at the results achieved, the way the agent conducts themselves and then decide if that agent is the person you trust to manage your lifetime of hard work. Now you have settled on that then the rest is easy……well that and another interest rate cut wouldn’t hurt either!

For many years we were all mesmerised by the property boom.

It had its own TV shows and its own celebrities. No longer was real estate the bastion of the knee high socks, dress shorts and short sleeved collared shirts (clip on tie optional) but rather the Armani suit and the Prada sunnies became new uniform. A 1997 Holden Caprice no longer shouted Principal when parked next to the young gun’s BMW. Buzzwords, mission statements and a constant need to repeat the name of the person they were talking to, replaced an evolved and finely honed ability to relate to an individual.

Yet now the scene is slowly changing and perhaps some of the gains of recent years will remain (no one should ever wear

If you would like to nominate a real estate related professional, who you feel would like to contribute an article in future editions, please email Damien McDonald at dmcdonald@eac.com.au

FTB SUMMER Edition 2012

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Around the Traps

Marketing Advice for Agents

By Damien McDonald, EAC Sales & Marketing Manager

From time to time, we all experience difficulties in closing a deal or getting a contract. The reason can often come in the form of a range of objections presented by the prospect as to why they cannot move forward.

First thing is to define the word “objection”. Objections are direct statements from a client, customer or lead, which they use as an excuse not to do something with, or get something from you, the agent. This ‘something’ could be signing a contract, making a legitimate offer, booking an appointment or simply obtaining information. People object to just about anything and everything at one time or another.

Now we have ascertained what an objection is, take a moment to say what they are not. Objections are not legitimate reasons the person cannot do or get something. Sometimes objections and legitimate reasons look very similar so one needs to treat them the same until they know the excuse is real. How do you know the excuse is real? Well, when you handle the excuse with patience and logic and the objector continues with the same excuse, this means that even though there is a logical solution it just will not solve their issue.

So, what then is the best way to handle an objection? Well, it involves a four-step process with the acronym “LISA” – Listen, Identify, Solve and Ask. • •

• •

Step one– Listen and Agree with the Person.

Step two – Identify and point out the problem with the persons thinking Step three – Solve the person’s problem.

Step four– Ask for closure.

Step one – Listen and agree with the person This is a vital step in ensuring that you are handling the correct objection, and creating an environment where the objector will listen to you as you continue to handle their problem. We do not want to be immediately perceived as arguing with the objector. We want to be viewed as someone who is on the same page as the objector. We will accomplish nothing and not get the outcome we desire if we skip this step.

We will listen to what they are saying and identify the issue, possibly even clarify with a question to ensure we are on the same page. Remember the same objection can be articulated in a large number of ways. Our next actions will be to agree with them in part – for example “I’m Too Busy” – you might respond with something like “As a busy person myself, I am well aware of...”, then continue on in the process. We do not argue that what they are saying is wrong, we agree with them (in part) even if they are wrong. In doing this, it is more likely that the person will listen to the remainder of the objection.

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Step two – Identify and point out the problem with the persons thinking Once we are seen as listening and agreeing with our prospect, we begin to turn the conversation to our agenda. We need to use the objection to point out the flaw in the objector’s issue.

We need to show that the objection is actually part of the problem, not that which they are objecting to. (For example, the sheer volume of listings and information that is out there today and the time that it would take someone to navigate to the best information is truly daunting, particularly if you are a busy person!)

Step three – Solve the person’s problem This sounds a little tricky, but we need to now show our prospect that we can provide a better alternative, or a solution to the original problem, that when viewed logically will solve the client’s issue and make the client’s life easier and better. (For example “What I am going to do will save you hours of time by making sure you are exposed to the very best information as quickly as possible....”)

Step four – Ask for Closure This is easily the most skipped step in the process. Once we have identified the problem, showed the real issue and the solution to the problem, we must act confidently! Using that confidence we must return to the original offer (of service, contracts, offer...) and ask again what the client needs to do.

Conclusion

It is also at this time where your prospect might throw out a new objection. This is a sign they are still trying to avoid the necessary action that we would prefer they took! Handle this second objection using the same “LISA” technique. Provide a nice and firm approach and do your best to calm their worries. However, if they should come up with a third different objection, this is a sign that the client is being difficult and truly at this moment you are not going to be able to turn their mind without causing damage to your own reputation in their minds. At this point, it may be best to break off the conversation in a friendly way and let the client know you will revisit the subject in the future.

Then go about your day, talk to more people and handle their objections, and more people and more objections.

Once you become a real wiz at this method, you will be far more confident to talk to more people at any time and in any place. You will see a marked improvement in your conversion skills, which should in turn affect the bottom line. You will make more contacts with people because you know that you can handle anything they plan to throw at you.

Hopefully, if we have solved their “problem” they will now be closer to, or in fact ready to book an appointment, write the offer, or complete the action which they were objecting to in the first place. Once again, if they repeat the same objection it could be a sign that either we did a poor job providing the logical solution or the objection is a legitimate excuse.

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Technology Review Smart Phones in Focus

By Don Harb, EAC IT Manager

The most notable releases in the market have been the iPhone 4S, the Motorola RAZR, Google’s new OS codenamed Ice Cream Sandwich (Android 4.0) and Nokia’s latest smart phone offering, the N9.

If you have been keeping abreast of the Smart Phone market, and according to Google Australian’s love searching about the iPhone 4S and iPhone 5, you would have seen over the last 3 months a number of new offerings in the market place.

While many were highly anticipated, in some cases the end result has left some people wondering what all the hype was about. Unfortunately due to this I was not able to complete the reviews that I wanted to for specific devices.

The most notable releases in the market have been the iPhone 4S, the Motorola RAZR, Google’s new OS codenamed Ice Cream Sandwich (Android 4.0) and Nokia’s latest smart phone offering, the N9.

The highly anticipated iPhone 5 release was replaced with the iPhone 4S. Many people believe that this was a step backwards for a release by Apple compared to previous unveilings of Apple’s iPhone range. While the iPhone 4S has some new features over its predecessors, the general consensus is that this release was more in the range of an upgrade rather than a new phone. Some features are just a new way of doing things yet there are some that are truly innovative.

Siri is the most notable change to the iPhone with the release of the 4S. Siri is a voice driven assistant in your iPhone. It will add appointments, set reminders, send messages and retrieve any information it can, to name a few, by simply talking to the phone. While technology like this has been on the fringes for a number of years, the voice ‘interaction’ is probably the first to be mass produced in this method. These types of technology are generally left for the movies. In saying this, as with all first releases, there seems to be a couple of issues mainly stemming around the differences in voices due to location, tone and especially accents. Even Apple has labelled it a Beta, which begs the question, why would they release something as part and parcel of the OS that was only in Beta?

manufacturer to add their little spin on it, innovation is only as limited as the manufacturer of the device. I can’t wait to see what the next generation of Android phones brings with it!

Nokia took an interesting path. While they signed a deal Microsoft earlier this year to co-develop Smart Phones their latest release, the N9, does not use the Microsoft Windows platform. Instead it uses Nokia’s own Smart Phone OS MeeGo. So far the phone itself has been well received in the market place but at this time the third party offerings that are available on the phone are limited.

Nokia did release the N9 with HTML5 support which is the way many development companies are now creating their systems to allow them to provide a single application that runs on many different devices i.e. it can run on Nokia, Android, Apple and Microsoft devices rather than having to develop an application for each platform. EAC is currently developing systems using HTML5 to allow any compliant device to be able to access EAC’s applications.

So what didn’t happen in the world of Smart Phones? The iPhone 5 didn’t get released as many people expected. This actually bucked the trend that Apple has had over the last 5 years since the release of the iPhone 2G to have one major phone revision per year but kept the trend of updating a phone every year. Many people are still anticipating the iPhone 5, but the question now is: What will Apple come up with now after the disappointment of the iPhone 4S?

Ice Cream Sandwich or Android 4 was released to the market place in late November. The interesting part about this is that Android 3 or Honeycomb was not released to market. It seems that even Google outstrips itself in development. While Android 4 has not been released in Australia yet, there have already been devices manufactured that have this as the operating system that will shortly be released to market.

Multitasking is probably the key strength for the Android OS and with version 4 there has been an increased focus on making this more user friendly. Multitasking is where ideas for integration start and with the Android OS being open to each

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iPhone 4S

Motorola RAZR

Android 4.0

The other major update that had been expected is the release of the Windows Mobile 7.5. This was expected towards the beginning of the 4th quarter of 2011 and many people believed that after the disappointment of the iPhone 4S release that this would have been an opportune time for Microsoft and its partners to release a number of smart phones with the updated OS. So the question is: What is the hold up? According to Microsoft, 7.5 is the saviour of its flagging smart phone sales.

And why would Nokia, after signing a deal with Microsoft, release a phone using its own operating system? Is Microsoft going to do a Google and skip the release of Windows Mobile 7.5 and release Windows 8 instead? Only time will tell.

revolutionised the Smart Phone market place by making them a household and business requirement. And even though I have been critical of the ‘innovation’ that Apple has provided, I honestly believe that if not for his vision, the Smart Phone industry would still be an afterthought.

So what does all of this mean for you as a potential smart phone user? That 2012 is going to be a very interesting year with a number of new devices being released to the market, maybe even the iPhone 5. The other major change will be the shift from OS dedicated business applications to HTML5 based applications allowing you to have a greater variety of choice when it comes to your next purchase.

Unfortunately the most notable change in this market is also the saddest. Apple’s CEO Steve Jobs passed away in October 2011. Many, including myself, believe that this man

Nokia N9-00

Windows Phone 7.5

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The Form Guide Your One Stop Shop

By Maureen Faapito, EAC Stationery Manager

It had been a successful year for the Real Estate Forms & Stationery area with some sixty new clients coming on board in 2011.

the new changes and requests from many offices needing assistance on how to use the new forms. This is where our user guides come into play.

As mentioned in the “From the Boardroom – Editions 9 and 10” - Monday, 31 January 2011 saw the change to the Residential Tenancies Act and Regulations 2010 and EAC completed its review of the New Residential Agreements according to the Act.

The user guides offer in-depth information on various aspects of the agency agreements including selected rules of conduct, risk management strategies and relevant links to reference material and resources. The guides are like having a training session readily available whenever needed.

Review of both our printed and eforms are completed on a monthly basis, taking into account customer feedback to ensure we have the most user friendly, up to date and compliant agency agreements.

We also have a section called “Supplementary Forms”. These forms have been created for your convenience and can be accessed online at eac.com.au under Resources at no cost.

You must be an existing EAC Forms User in order to obtain these forms.

Since the introduction of the Residential Tenancies Act and Regulations 2010, we have received many enquiries regarding

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Testimonials See what some of our valued customers had to say...

Ronis Real Estate has been members of the EAC for over 35 years.

“EAC have been the leaders in the industry by offering the latest updates and support to all their members at no delay.

We would also like to thank Maureen and all the staff for their excellent and professional service they always provide us. We have been encouraging a lot of agents who are not members to become members and we continue to support the professional service that EAC provides to the industry.

I would like to take this opportunity to wish everybody a Happy, Safe and Prosperous New Year and every success in their business for 2012.”

George Ronis - Principal Ronis Real Estate Bankstown

“Over the last 11 years I have dealt with EAC, their services have always been attentive and prompt and staff highly knowledgeable. EAC has been a preferred supplier to our office because their forms and stationery are always readily available and comply with Government Legislations.

More recently, with the responsiveness and assistance of EAC staff in providing new forms to be used has made the process of changing our company name to Professionals seamless. I can confidently recommend EAC, as a reliable supplier and experts in their field, to any Real Estate Agents.”

David Tran - Principal Professionals Merrylands

FEBRUARY SPECIAL! Purchase your BiddersMate Auction Paddles in the month of February and receive each set at our special price.

Members - $62.50 Non Members - $70.00 • • • • • • •

• •

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Available in Red, Blue, Yellow, Black and White Each set is supplied in a light easy to use snap shut carry case.

How to Order

Call EAC on 1300 137 161 for more details or simply log on to: www.eac.com.au and select the Forms & Stationery icon

FTB SUMMER Edition 2012

22

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The Prodigal Son

Ross Graham returns to EAC

By Damien McDonald, EAC Sales & Marketing Manager

EAC Members from the era that gave us Gordon Gekko, the Discman, Macarena, Hypercolour T-Shirts and thankfully Grunge Music, will remember the then EAC Marketing Manager Ross Graham, who was employed by the Co-operative from 1990 to 2001, before leaving to start up his own computer business on the Sunshine Coast of Queensland.

In December 2011 Ross returned to EAC and is now responsible for the Sales Management of our Membership Services team. Ross has been a part many of the early successes of the ‘New’ EAC such as the redesigning of the EAC logo that we use today as well as the development, launch and implementation of the Red Square application version that has recently transformed into Red Square Web. You can get a chance to meet for the first time or even renew old acquaintances with Ross at the upcoming 2012 EAC Industry Update Seminars.

Join the conversation :) Catch and comment on the latest industry news by joining the Estate Agents Co-operative Social Media Pages.

Scan QR code and jump right into the action!

EAC Christmas Party Sydney Harbour Showboat Thursday 2nd December 2011

The 2011 EAC Staff Christmas Party provided a much needed break from what was a long year of hard work.

You can check out more photos from the night on the EAC Facebook Page.

FTB SUMMER Edition 2012

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Guest Feature

Real Estate Traditionalists embrace Targeted Electronic Marketing

By Russell Taylor, CEO Suna Communications Pty Ltd

Not only is Electronic Marketing the most cost effective means of communicating with your contacts but it is proven to yield far greater results.

No longer are the terms “open rates”, “click throughs” , “unsubscribes” exclusive to the iPhone and iPad toting “technology savvy” Real Estate newbie’s.

Realising the traditional Real Estate marketing methodology of print media, letterbox drops, door knocking and referrals really hasn’t changed except the same message is being delivered electronically. This delivery method means a far greater level of confirmation that your personalised Electronic Property Newsletter has been delivered directly to your target.

Not only is Electronic Marketing the most cost effective means of communicating with your contacts but it is proven to yield far greater results.

Making the transition from these traditional methods is only a small step.

Electronic Newsletters can be created and sent to your entire database in just 5-10 minutes. Couple this with the Red Square Communicate patented Lead Alert Technology, qualified leads from Buyers and Sellers alike could commence flowing to a Sales Team as soon as an Electronic Newsletter Campaign is sent.

A meaningful primary Contact List Statistics reveal 3-3.5% of all existing Australian Property owners will move into the Property Market in the next 12 months – given these statistics, a meaningful Contact list need only comprise “Australian Property owners” who are yet to enter the Property Market.

The challenge with your primary list is to build a relationship with them through regularly (weekly) communicating your message through personalised Electronic Property Newsletters and, the need to be there (top of mind) for them, when they move into the market – Red Square Communicate will enable you to do this.

The criteria for a perfect Contact List will include;

• First name Last name, • eMail address, • Phone contact details • Postcode, Suburb • Be a Property Owner • Consent to receive weekly Electronic Property Newsletters

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FTB SUMMER Edition 2012

These list members can be sourced by many means including canvassing for Referrals from Contacts on your secondary Contact List. Those on your secondary Contact List are usually Contacts you have dealt with in the past who will trust you to speak to their friends and family and, possibly have already left the Market or, are also on the Lists of a number of your Competitors.

When queried about where might this Referrer find someone prepared to receive your Electronic Property Newsletter – you can suggest they look in their Mobile Phone or Email Account Address books?

Keep in mind you are just seeking New Contacts happy to receive your informative personalised Electronic Property Newsletter.

Secondary Contact List All Contacts on your secondary Contact List should be included in all campaigns to ensure the proper maintenance of your existing relationships with those Contacts.

• Buyers • Sellers • Investors • Tenants • Landlords..etc

Strengthening your List It is an ill-conceived myth that your Contact list will weaken should you communicate with them too often – the more frequently you communicate with your list, the more likely your Contacts will come to expect and accept it. Furthermore, you will be there for them the moment your Contact enters the Market.

I strongly suggest you send to your entire Contact List every Tuesday morning and, after a subtle subject change, re-market to all of those who “did not open” your Tuesday Campaign on Thursday morning of the same week – this should be your weekly routine once you have mastered the discipline required for continued Electronic Property Newsletter Marketing. Red Square Communicate can facilitate “Re-Marketing” to a previously sent Campaign.

Campaign Expectations We know a properly maintained and regularly sent Contact List of around 800 Contacts will yield 3-4 Leads simply as a consequence of sending a Newsletter Campaign to it – we also know for every lead that comes to us directly from the send, there are another 1-2 Leads still in the Campaign.

The Patented Lead Alert Technology Red Square Communicate can provide, will find those additional Leads for you – giving you 7-10 Leads each week from your Electronic Property Newsletter marketing efforts.

Many of those Leads will be “forward sales” meaning it is vital to continue communicating with them on a weekly basis to ensure you are there for them, if/when they move into the market sooner than they expressed to you after the Lead Alert was triggered.

Prior to getting in touch, you are able visit the “reports” section of Red Square Communicate to analyse the profile and history from previous Campaigns sent to your Contact and, to gather intelligence as to their possible Property needs before you make that call.

Additional Campaigns Buyer Alerts, New Listings, Recently Sold, Massive reduction, Vendor says SELL, Property Sold at higher than Listed Price and more; The above headings are all potential splinter campaigns that can be run contemporaneously with the above?

Receiving a Lead Alert Receiving a Lead Alert is a heads up that one of your Contacts could be about to enter the market – when you get in touch with that Contact we suggest you simply “follow- up” on the Property Newsletter you sent them.

FTB SUMMER Edition 2012

28 20

Staff Profile

Kerry Williams - EAC Accounts Receivable Clerk

By Damien McDonald, EAC Sales & Marketing Manager

Most EAC customers would be familiar with the voice of Kerry Williams, EAC Accounts Receivable Clerk, who commenced her employment with the Co-operative in September 2009.

Kerry is responsible for answering all customer account queries as well as being instrumental in managing outstanding revenues. Kerry has achieved internal recognition, not only for her professional achievements, but also for her reputation as the loudest voice and most contagious laugh of any of the staff at EAC. With that said, I recently took the opportunity to ask Kerry a little bit about herself to give you a better insight into 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 an all-rounder in accounts for a Garage Door Company for 7 and half years.

The people I work with and the satisfaction from having a challenging role that allows me to achieve results on a daily basis. Also being paid to do a job I like doing is a great motivator.

What are your usual daily tasks as Accounts Receivables Clerk?

Daily tasks involve resolving & reconciling account related issues and banking. Calling clients for the purpose of revenue collection as well as processing customer payments.

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

I received a phone call from the son of a long time EAC Subscriber, Bruce Shaw. He was calling to cancel his father’s subscription as he passed away on 24th October 2011. He was aged 92 years old and had been using Red Square up until the end.

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FTB SUMMER Edition 2012

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

4wd driving adventure trips, camping, sailing, kayaking most things outdoors and I love to go on holidays locally and overseas. I like to experience the wonders of the outdoors wherever possible, with no sea too rough and no track too tough.

What sort of music do you listen to?

Varies from 60’s to now, mainly pop and rock & roll.

Where do you see yourself in 5 years?

Retired living in our beach shack on the shores of Jervis Bay; my manager thinks not. Hopefully doing some more travel outback and overseas.

Why Join the Estate Agents Co-operative?

EAC Members enjoy a vast range of services, Industry discounts, practice advice as well as access to cutting edge technology products that can give your office the competitive advantage.

Only $95 a month gives you membership to the largest Call 1300 137 161 to join today! real estate co-operative in Australia! Call 1300 137 161 to join today!

Member Profile

Lois Buckett - Lois Buckett Real Estate

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. Winner of the Lennox Head Chamber of Commerce Business Excellence Award for Professional Services, Lois Buckett, our first female member profile in FTBR, heads the highly successful Lois Buckett Real Estate office in Lennox Head on the North Coast of NSW. Lois has been a Platinum member of the Co-operative since July 2005 as well as a solid advertiser on both the realestateworld.com.au website and Northern Rivers publication. I first met Lois as a team member at the local zone annual Barefoot Bowls Day several years ago and was captivated by her charisma, tenacity and good humour in addition to her insistence that we all apply sun screen on the day. The following is a result of an interview with Lois towards the end of 2011.

What is your real estate background?

I started working as a receptionist for a local independent company “Pidcocks Real Estate” in Lennox Head over 20 years ago.

I was fortunate to have Paul Pidcock as my employer/mentor who gave me an excellent grounding in the business.

I progressed to property management which I continue to appreciate as an intregal part of Lois Buckett Real Estate. Unlike a lot of other real estate owners I enjoy property management, it’s an ever evolving and growing business.

Some years later I went on to work for a franchise in Ballina, which again gave me the opportunity to work for a larger company in property management. It was here that I progressed into sales as a sales assistant, for again a very experienced operator. This propelled me into an independent sales person. Given a change in my personal circumstances and becoming a single mother with two young children I decided to start my own real estate business.

What do you see as the secret to the success of Lois Buckett Real Estate Lennox Head?

Firstly being a female operator and using my name (which is by all counts a bit unusal) has attracted an element to my business that others cannot provide or compete with. It was a stroke of luck which really came from not being able to decide on a more typical real estate name. This has turned out to be a tremendous asset to our business. We work as a team, we are on the same wavelength and we have a bit of FUN. We want to provide a service that has positive outcomes, creates good relationships so that people continue to come back to us for all their real estate needs. Referrals are a key ingredient in our business.

Our mission statement is “to be the business that others think of when seeking excellence in Property Management and Sales in Lennox Head and surrounding areas”

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

I was encouraged to join the Co-operative by one of my competitors Peter Savage when I first opened my doors. It was good advice. The Co-operative and its members provided me with excellent advice and support whenever needed.

I was able to meet and speak with other members who were, and still are very supportive of my business.

Being in your own business can be a lonely place until you

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FTB SUMMER Edition 2012

meet other like minded business owners. It created a valuable network for me.

It certainly gave me the confidence to keep going, as there were other competitors who expected I would fail, told me so and have tried consistently to slow me down without success.

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

The best features of Red Square would have to be…………

The CMA report. The choice of letters available to include in our pre-list and marketing kits, The mapping options and radius searches are features we use to research comparable sales, this is crucial in providing accurate data to our clients who are continuing to better educate themselves in the real estate industry. We need to know our stuff in order to remain competitive!

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

I have been a strong supporter from day one when we had our first meeting when members where asked to put up their hands and vote to support the publication.

I was excited to think that finally I would be able to market properties at an affordable price for my vendors and not have the continual spiral upwards of page rates from the competing publication.

From day one it provided a point of difference, a co-operative, a free publication, the online updates for open houses and the like. Like me, its independent!

Where do you see yourself and Lois Buckett Lennox Head in 5 years?

I feel we are just starting to “hit our straps”. We are solid consistent operators, chasing market share and looking to double our property management business. We have the systems in place to consistently improve and provide better service to our clients.

Currently we are doing the finishing touches to our new website which is plugged into our database for both sales and property management. This will be ready for release in the new year.

These streamlined systems allow us to concentrate on what we do. They also reduce our overheads which is crucial in todays business enviroment. This allows us to focus on what we need to do, which is prospect, List, Sell and Negotiate.

COMMUNICATE

Property Newsletters with serious grunt Meaningful property e-newsletters in 5 minutes.

• Red Square Communicate, incorporating our revolutionary Lead Alert Solution

•

Red Square Communicate will send you leads from buyers and sellers alike, straight from your mobile phone and email inbox before your contact is lost to a competitor

• Property listings automatically loaded to your Red Square Communicate account • Comprehensive content library at your fingertips

• Property e-newsletters will save your vendors money and reduce listing times • Educate your buyers • Educate your sellers • Generate property sales • Generate new listings Red Square Communicate can become the main source of Sales and Listings for any real estate office no matter how large or small. With just minimal training and a little discipline.

Contact EAC now!

1300 137 161 or email communicate@eac.com.au

Agent Banner Advertising Pricing realestateworld.com.au Agent Banner advertising provides your office with an opportunity to generate brand awareness in your market area. realestateworld.com.au agent banners are available for display on the “For Sale” and “For Rent” search and search results pages in the suburb or suburbs of your choice at a NEW cost that can be tailored to any office marketing budget.

Starter Package – 0-50 Listings

Description Property Search Results Tower

$40 GST Inc

Property Search Results Bottom Banner

$15 GST Inc

Branding Package (Quarto Premium)

$200 GST Inc

Property Search Results Banner Branding Package

Basic Package – 50-100 Listings

Description

$22 GST Inc

Branding Package (Quarto Premium) Description

$115 GST Inc

$300 GST Inc Pricing Monthly

$80 GST Inc

Property Search Results Bottom Banner

$34 GST Inc

Branding Package (Quarto Premium) Description

$57 GST Inc

$173 GST Inc

$450 GST Inc Pricing Monthly

Property Search Results Tower

$155 GST Inc

Property Search Results Bottom Banner

$65 GST Inc

Property Search Results Banner Branding Package

$38 GST Inc

Property Search Results Tower

Branding Package

Platinum Package – 200-500 Listings

Pricing Monthly

Property Search Results Bottom Banner

Property Search Results Banner

$75 GST Inc

$60 GST Inc

Branding Package

Gold Package – 100-200 Listings

$25 GST Inc

Property Search Results Tower

Property Search Results Banner

Pricing Monthly

Branding Package (Quarto Premium)

$95 GST Inc

$300 GST Inc

$800 GST Inc

Global Package – 500+ Listings

Description

(Capped @ 800)

Property Search Results Tower

$300 GST Inc

Property Search Results Bottom Banner

$100 GST Inc

Branding Package (Quarto Premium)

$1,200 GST Inc

Property Search Results Banner Branding Package

Pricing Monthly $200 GST Inc

$500 GST Inc

Agent Advertising Banner Positions Banner Examples

Property Search Results Tower

Property Search Results Banner

Property Search Results Bottom

Simply phone realestateworld.com.au on 1300 137 161 or email info@realestateworld.com.au to arrange an obligation free quote on any area in NSW. You may select your office suburb, postcode or any number of areas you would like to increase your office online presence to real estate consumers.

The Ultimate Digital Signage Window Display

Did you Know ?

One for the Techies! EAC designed and built the first actual real estate web portal in 1993 named realnet.com, which was hosted on an ancient Pentium 4 P100.

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.

It took 16 different versions and was tabled at four Board meetings for the EAC Directors to agree on the design of what is now the EAC Logo.

Red Square went live on January 1, 2000 in spite of the fear of the Y2K bug.

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

Agent Banner Advertising Packages realestateworld.com.au website Agent Banner Advertising Packages are offered at a fraction of the cost of other real estate sites.

Generate exposure for your office with realestateworld.com.au

Package includes: • Property Search Results Tower as well as Mid Search Banner and Bottom Search Banner in 3 suburbs of your choice for a 3 months advertising period. • Design and production of all 3 banners in consultation with your office.

For the limited time of February/March 2012, your office can secure a branding premium package at the special price of $330 GST Inclusive!

Simply call realestateworld.com.au on 1300 137 161 and ask about realestateworld.com.au Agent Banner Advertising Packages introductory offer.

GET YOUR BUSINESS CONNECTED WITH EAC e-marketer PACKAGES From as little as $250 per month your office can have a Premium Office Web Site and all the tools needed to develop an effective social media strategy for success! upload your listings

your company page

your company page

company newsletters

your office blog

your property portal

Addlist

your company page

COMMUNICATE

Contact EAC on 1300 137 161 to find out more about EAC e-marketer

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

Enhance Your Office Brand.

Become a Member of the largest Real Estate Co-operative in Australia EAC provides its members with the latest in Real Estate Technology, Agency Practice & Compliance Advice, Member Discounts & Marketing Products at the most economical rates. Establish your own brand in the marketplace without the expense, using the help of the Industry’s own Co-operative, EAC. Membership starts from as little as $95 per month.

Log onto www.eac.com.au to find out more or call EAC direct on 1300 137 161

Providing complete business solutions to the real estate Industry for over 50 years

Welcome New Members

The Board management and staff would like to extend a warm welcome to the following new members that have joined the Co operative.

Wiseberry Bankstown Robert Spitalieri

Apple Property Islington Louise Shirvington

PRDnationwide St Leonards Alex Kingston

Maitland Valley Real Estate Nick Wiwsyk

Ray White Orange Elizabeth Seaman

L J Hooker Muswellbrook Phil Lawler

Mark Cochrane Real Estate Mullumbimby Mark Cochrane

McCormack Real Estate Orange Peter McCormack

Sydney Reliance Property Group Kingsford Michael Liang

Oz Combined Realty Sydney Peter Ozerskis

Hamilton & Co Special Projects Lane Cove Daniel Dekell

Inglis Property Macarthur John Mackie

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FTB SUMMER Edition 2012

EAC Contact List

Estate Agents Co-operative Ltd. ABN 52 079 055 637 274 Miller Road Villawood NSW 2163

Phone: Fax: Email:

(02) 9724 6999 (02) 9724 6407 innovations@eac.com.au

Membership Services

Phone: Fax: Email:

1300 137 161 (02) 9724 6407 membership@eac.com.au

realestateworld.com.au Publications

Phone: Fax: Email:

1300 789 675 (02) 9724 6260 publications@eac.com.au

Red Square & realestateworld.com.au Website Support

Phone: Email:

1300 137 161 redsquare@eac.com.au

Web Design & Development

Phone: Email:

1300 137 161 webservices@eac.com.au

Real Estate Forms & Stationery

Phone: Email:

1300 137 161 stationery@eac.com.au

Compliance & Practice Support

Phone: Email:

1300 137 161 practicesupport@eac.com.au

Training Services

Phone: Email:

1300 818 874 training@eac.com.au

Printing Services www.eac.com.au www.realestateworld.com.au

Phone: Email:

1300 952 258 info@eacprinting.com.au

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

FTB SUMMER Edition 2012

40 34

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 Jeff Buchanan 0419 697 677 jbuchanan@eac.com.au Area of Operation – Lower Northern Sydney, Central Northern Sydney, Northern Beaches, South Eastern Hills District, The Murray, ACT, Riverina / Murrumbidgee, Southern Highlands

Beanca Karaniki 0407 648 440 bkaraniki@eac.com.au Area of Operation – St George Sutherland, Eastern Suburbs, Inner Sydney, Inner Western Sydney

Pat Royce 0425 257 485 proyce@eac.com.au Area of Operation – Illawarra, Mid North Coast NSW

Victor Baptista 0434 155 886 vbaptista@eac.com.au Area of Operation – Fairfield, Liverpool, Blacktown, Shaolhaven, Central West NSW, South Outer & North Western Sydney, Canterbury Bankstown, Central Western Sydney

Kitra Brennan 0425 389 715 kbrennan@eac.com.au Area of Operation – New England / Northern Rivers

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FTB SUMMER Edition 2012

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

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

Nicole Tinker 1300 789 675 ntinker@eac.com.au Area of Operation – Western Sydney, Clarence Valley, Mid North Coast

FTB SUMMER Edition 2012

42

www.oamps.com.au

One insurance broker understands the real estate agency business.

The complexities of running a business today require support by an insurance adviser who understands your specific risk exposures and is able to develop tailor made solutions that adequately protect your business.

At OAMPS Insurance Brokers we’ve made it our business to get to know the risks associated with running a real estate agency business.

Working in conjunction with the Estate Agents Co-operative, OAMPS has developed industry specific risk cover and services, including • • • •

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For an obligation free appraisal of your insurance requirements, contact your nearest OAMPS branch.

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