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INDUSTRY NEWS
REIQ Announces New Board of Directors
The REIQ has announced a new Board of Directors following its Annual General Meeting at the Cannon Hill offices last week. In accordance with the Institute’s Constitution and by-laws, two new Director positions were contested by a vote of the membership. The two new Board Directors are John Newlands and Damien Keyes. The full Board of Directors for the next…
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INDUSTRY NEWS
REIV celebrates their best for 2017
The Real Estate Institute of Victoria has awarded this year’s best in business, recognising industry leaders across more than 25 categories. This year’s award winners included: Large Residential Agency of the Year: Methven Professionals Mooroolbark Residential Salesperson of the Year (Executives): Matthew Scafidi, Noel Jones Mitcham Outstanding Young Agent of the Year: Bianca Butterworth, CBRE Buyer’s Agent of the Year:…
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INDUSTRY NEWS
Trades demand stabilises: HIA
“During the September 2017 quarter, the HIA Trades Availability Index indicated that there is a sufficient supply of skilled trades available to the housing industry,” said HIA’s Senior Economist, Shane Garrett. According to the HIA, in most situations, the trades required are readily available on the market. The HIA Trades Report provides a quarterly review of the availability of skilled…
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Real Estate News
Combined wealth of Australia’s top 5 Property Young Rich Listers is $770 million
The 100 members of the 2017 Financial Review Young Rich List have enjoyed a stunning rise in wealth this year, with a booming property sector, technology market and beauty industry boosting overall wealth to a record $13.2 billion. The technology sector tops the list with Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar’s combined wealth of $6.08 billion. The technology duo’s…
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INDUSTRY NEWS
Victoria braces for record auction weekend
The previous record for auctions held in a single weekend was set in November 2015 when 1,712 auctions were held. A remarkable 1,826 auctions are scheduled for this Saturday alone with around 75 auctions being held on Sunday, including the five Block properties. In total, 1,935 homes will go to auction this week with high auction volumes in Camberwell (29…
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INDUSTRY NEWS
REIWA Information Service in high demand from tenants, landlords, buyers and sellers
REIWA Chief Executive Officer Neville Pozzi said the volume of calls placed to the REIWA Information Service so far in 2017 had exceeded those received at the same time last year. “The REIWA Information Service provides West Australians with direct access to local experts in the real estate industry who can educate them on areas they are unsure about and…
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SUPPLIER NEWS
Rex Software and CRM2Print announce integration
Rex Software says that for over 6,000 agents across 1,000 agencies using the platform, the mundane task of printing, folding, stuffing and posting direct mail is now a thing of the past. In three simple steps, users can send one, fifty or a thousand letters – direct from within Rex. “We’ve always recognised that every agency operates differently – and…
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INDUSTRY NEWS
Adelaide takes investor attention off Melbourne and Sydney
Anna Porter, a property market author, commentator and former valuer who works with first time and experienced investors on building high-performance portfolios, says she is directing clients towards the forgotten state of South Australia. “For the past three years all eyes have been on Sydney and Melbourne as the markets that have been outperforming the national averages. Many suburbs across…
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FRANCHISE NEWS
Harcourts Builds member App Store
Built with Apple’s iOS, the store is an enterprise application through which Harcourts team members can access, download, update and install its proprietary mobile applications eOne, eOpen and eCampaign. “We are one of the first real estate companies, globally, to take advantage of and build our own member-facing app store on Apple’s Developer Enterprise Program,” said Gregg Toyama, Harcourts Head…
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FRANCHISE NEWS
Semaphore agent maintains standing as one of South Australia’s best real estate agents
Ms Smith scored gold in the competitive Local Auction Salesperson Western/Beachside category and a bronze in the South Australian Salesperson Residential category. “The bronze in the South Australian Salesperson Residential classification is particularly pleasing considering the average sales price for a house in Semaphore is $455,970, and I am competing against agents operating in the pricier city and eastern suburbs markets,” said Ms Smith. The successful local agent was…
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Real Estate News
Preliminary auction clearance rate remains below 70 while activity holds firm
National auction clearance results for the week ending 22/10/2017 courtesy of CoreLogic The trend towards softer auction market conditions has been led by the Sydney market where the final auction clearance rate has remained below 65% since the first week of October. Auction volumes were similar week-on-week, with 2,471 properties taken to auction, compared to 2,525 last week. This time last year,…
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Real Estate News
Higher interest rates for investors eases housing affordability for owner-occupiers: HIA
“The HIA Housing Affordability index for Australia improved by 0.5 per cent in the September 2017 quarter but still remains 4.4 per cent below the level recorded a year ago,” said Tim Reardon, HIA’s Principal Economist. “Housing Affordability has been deteriorating in Australia for decades, particularly in capital cities, as demand for new housing greatly exceeded the supply. “Recent interventions…
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INDUSTRY NEWS
South Australia celebrates high achievers at REISA Awards
REISA CEO, Greg Troughton, said the Awards are the pinnacle of real estate achievement in South Australia and highlight the passion and dedication that the real estate profession shows to its clients and consumers. “These are the most prestigious and recognised awards for real estate professionals in South Australia. We undertake a rigorous nomination, qualifying and judging process to ensure…
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INDUSTRY NEWS
Realestate.com.au top brand improver among Australian millennials
The Index looks at the top brands for word of mouth among Aussie millennials, with realestate.com.au’s experiences and video-led content across web and social resonating with the country’s largest and most technology savvy generation. From 2016 to 2017, realestate.com.au jumped 13 points on the index to be ranked the top brand improver among Australia’s millennial generation, aged 18 to 34 years…
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FRANCHISE NEWS
Is this Australia’s most expensive house?
Ray White Double Bay Director Craig Pontey expects the 3731sq m estate at 38B The Crescent, Vaucluse will set a new national record for its sheer scale and enviable deep waterfront access, tennis court, palatial home and jetty. Mr C K Ow, Chairman and Chief Executive Officer of Stamford Land Corporation Limited which owns and manages luxury hotels, commercial buildings…
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OPINION
Catching the right wave: Michael Davoren
On the Queensland coast the humpback whales are slowly heading back south to Antarctica with their calves after their June to August migration to tropical North Queensland waters where they mate and breed. This month we are hearing about another migration. A 130,000-strong people-wave is tipped to move from southern states, and more specifically Sydney, in coming years for Queensland’s…
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Real Estate News
Preliminary auction clearance rate above 70 percent on higher volumes
National auction clearance results for the week ending 15/10/2017 courtesy of CoreLogic There were 2,497 auctions held across the combined capital cities this week, up from 2,318 last week. So far, 2,007 results have been reported to CoreLogic, returning a preliminary clearance rate of 70.6 percent, increasing from last week when the final clearance rate slipped to 64.4 percent, the lowest clearance…
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SUPPLIER NEWS
Storage start-up Spacer raises $2.7 million and acquires Parkhound
The key pillar to Spacer’s strategy has been to source, utilise and commercialise unused ‘space’, typically from households and small businesses. The next phase of growth will focus on offering commercial inventory and car park sharing with the acquisition of Parkhound. “Following our most recent round of funding, the second phase of business growth is focused on tapping into Australia’s…
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National
REAPIT looking to global expansion following US lead acquisition
The investment partnership combines the deep domain experience and strong track record of Reapit’s existing management team with Accel-KKR’s strategic expertise working with high-growth technology companies. The supplied press release indicated the partnership will enable Reapit to accelerate its growth and innovation, enhance products and services, and expand its technology offering. The Reapit senior management team will continue to be…
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FRANCHISE NEWS
RE/Max expands in Sydney’s West
RE/MAX Australia continues its commitment to New South Wales expansion, and the Sydney market in particular, with the opening of a second office for RE/MAX K1. Broker-owner David Kim returns to Eastwood where the experienced real estate agent is a familiar face. Mr Kim, whose real estate career spans two decades, launched RE/MAX K1 in Lidcombe earlier this year and,…
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Real Estate News
Auction volumes return to normal after long weekend
National auction clearance results for the week ending 08/10/2017 courtesy of CoreLogic Auction activity across the combined capital cities increased this week after last week’s grand final and public holiday slowdown. 2,286 homes were taken to auction, returning a preliminary auction clearance rate of 68.1 percent. The preliminary clearance was up from the 66.3 percent last week when volumes dipped significantly across…
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Real Estate News
Haydn Groves reappointed REIWA president
The REIWA governing Council has re-elected Hayden Groves as the Institute’s President after his term officially ended in September. REIWA CEO Neville Pozzi offered his congratulations to Mr Groves on his re-election. “Mr Groves has provided exceptional leadership to the Institute over the last couple of years, and I’m delighted to have him on board for REIWA’s 2018 centenary year,”…
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Real Estate News
Auction activity makes way for the footy and long weekend
National auction clearance results for the week ending 01/10/2017 courtesy of CoreLogic Despite lower auction volumes, clearance rates held firm, returning a preliminary result of 69.4 percent, rising from the 66.2 percent last week when final results saw volumes reach their highest level since May this year (2,782). Melbourne was the main driver of the strong clearance, with a preliminary result just…
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Real Estate News
National award for RE/MAX recognises expansion and support
RE/MAX Australia’s Joel Davoren this week announced the real estate franchise’s inclusion in the 2017 Topfranchise Awards as listed by SEEK Business and 10 THOUSAND FEET. “We are rated in the top ten winners for expansion and support, which is affirmation that we are on track with our core business values and beliefs. “Growth is one of the five RE/MAX…
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INDUSTRY NEWS
Di Jones adopts Pound Paws
Di Jones CEO Rob Ward said the aim of Pound Paws is to encourage the public to adopt puppies online and discourage backyard breeders that contribute to the oversupply of dogs and cats in Australia. “A visit from Wookie, a Lhasa Apso crossed with a Maltese and Jalepeno, a Kelpie cross, meant it was an exciting morning for our Di…
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Real Estate News
Spring Selling auction volumes continue to rise across the combined capital cities
National auction clearance results for the week ending 24/09/2017 courtesy of CoreLogic Auction volumes have increased across all but one of the capital cities this week with a total of 2,759 homes taken to auction, making it the busiest week for auctions since the end of May. So far, 2,226 results have been reported to CoreLogic, returning a preliminary clearance rate of…
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FRANCHISE NEWS
Stephen Bock re-joins McGrath to cover the Northern Beaches of NSW
McGrath Estate Agents today announced Stephen Bock has joined its company owned sales team on Sydney’s northern beaches, specialising in the key suburbs of Manly, Fairlight, Balgowlah, Balgowlah Heights and Forestville. Mr Bock brings with him more than 18 years of sales experience and has sold close to $1 billion dollars in real estate over his career. He returns to…
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FRANCHISE NEWS
Driven to Success: Michael Willems
Superstar agent Michael Willems can boast being the first agent in the Ray White Group to reach over $1 billion in settled sales. But he never would. It’s not his style. It’s simply not in the DNA of the 47-year-old agent from the powerful Ray White Surfers Paradise Group to show off. The hallmarks of Willems’ success are the fact…
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FRANCHISE NEWS
Maatouks Realty rebrands to Raine & Horne Narellan
Lawyer and entrepreneur Peter Maatouk has launched Raine & Horne Narellan in the heart of Sydney’s Macarthur region. Mr Maatouk, who is the principal of Maatouks Law Group that has offices in Narellan, Liverpool, and Penrith, has been delivering general practice and property law services since 1993. The firm launched a mortgaging broking business in 2000 and Maatouks Realty in 2007. “As…
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Real Estate News
Auction volumes increase with clearance rates remaining representative of the state of the market.
There were 2,490 auctions held across the combined capital cities this week, up from 2,258 last week, making it the busiest week for auctions since the beginning of June. Based on preliminary results, the combined capital city clearance rate was recorded at70.3 percent this week, up from 66.9 percent last week, although this will likely revise lower over the next…
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Elite Agent
NSW Fair trading update on deadlines, by-laws, fire-safety, fraud prevention and holiday lettings
Real estate audit deadlines NSW Licensees are reminded that the deadline for real estate audits is 30 September 2017. The qualified audit must be lodged within 3 months after the end of the audit period and for most agents, must be submitted with the Director-General by the due date. If a qualified trust account audit is not lodged by the…
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FRANCHISE NEWS
Harcourts announces property styling program ‘Harcourts at Home with Sean & Ella’
Property in Tasmania may have just gotten a little more stylish as Harcourts have joined forces with House Rules 2017 contestants Sean MacKay and Ella Cuthbert in an exclusive collaboration to launch ‘Harcourts at Home with Sean & Ella’. The collaboration includes a property consultation service offered to home sellers and buyers through the Harcourts network. “Sean and Ella won…
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OPINION
Short-term letting only suitable for some
Di Jones Head of Investment Management Bridgette Barker said with increases in the cost of living any owner of a property can tap into these services to help with rising expenses. “While people are taking up the opportunity, less than 1 per cent of our rental roll has decided to put their homes onto the short-term market in the past…
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FRANCHISE NEWS
Ray White NSW Celebrates its Best
More than 1200 real estate agents and guests arrived at the International Convention Centre in Sydney to celebrate their achievements at the annual Ray White New South Wales state awards last night. Ray White Double Bay had a successful night at the awards, picking up number one city office in settled commission while its elite agent Gavin Rubinstein took out…
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FRANCHISE NEWS
One agent, $50 million in sales, 19 days
Rubinstein has just sold close to $50 million worth of real estate in only 19 days – that’s over $2.5 million a day for that period. This is in contrast to what many commentators are reporting of a slowing market and low house sales, each of the nine sales was a bullish result individually. Rubinstein continues to find motivated buyers…
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