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SUPPLIER NEWS
REA Group posts 17 per cent revenue growth for FY19 Q1
News Corp-owned real estate listings platform REA Group has posted a 17 per cent revenue growth for the first quarter of FY19. Revenue increased to $221.9 million with the company’s EBITDA increasing by 23 per cent to $130.9 million compared to the previous period. This growth was despite tough market conditions; the platform reported a three per cent decline in…
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INDUSTRY NEWS
ABS data shows new lending has dropped to lowest levels in four years
The latest ABS housing figures show new lending has dropped to the lowest levels since August 2014 and lending to housing investors is at the lowest it’s been since 2013. The seasonally adjusted figures from September show an overall drop in lending of 3.8 per cent from the previous month. Owner-occupiers fell the most, down 4.2 per cent from last…
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THE ELEVATE PODCAST
Episode 68: Edward Smyth and Karen Stewart on building a team and playing to your strengths
On paper Edward Smyth and Karen Stewart’s partnership seems peculiar. Coming from very different backgrounds, Karen has been in real estate for 15 years on the Gold Coast whereas Ed joined the industry just two years ago after working as an investment banker in the UK, it’s hard to see how their styles would mesh. But in this episode of…
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SUPPLIER NEWS
Link Group to acquire econveyancing platform PEXA for $1.5 billion
Link Group and its partners, including Commonwealth Bank of Australia and Morgan Stanley Infrastructure, have announced their final bid for PEXA has been accepted. Link, which already owns 30 per cent of PEXA, initially made a bid earlier in the year which was knocked back due to PEXA’s plans to list on the Australian Stock Exchange. However, the company was…
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FRANCHISE NEWS
CBRE Group moves into co-working space with the launch of CBRE Hana
Commercial real estate services firm CBRE has declared a move into the flexible working spaces sector with the creation of CBRE Hana, a new division which the agency says will partner with property owners to provide workspaces. Hana will design, build and operate the co-working facilities and services, in partnership with institutional property investors. In a statement, CBRE president and…
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Real Estate News
Professionals continue their support for the National Breast Cancer Foundation during Pink Ribbon Month
Since 2003, Professionals has been a proud partner of the National Breast Cancer Foundation (NBCF), with offices donating a portion of the commission from each property sale along with holding fundraising events throughout the year. As one of only two Diamond Partners of NBCF, along with Ford Australia, Professionals offices take part in fundraising, particularly during NBCF’s Pink Ribbon Month,…
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Elite Agent
John McGrath reveals his top suburbs for 2019 in annual report
The 2019 McGrath Report has been released. In it, several trends to watch for 2019 are named, alongside John McGrath’s suburb picks. In his opening letter, Mr McGrath backed up his thoughts that the expected market corrections would not be as dire as predicted in media reports, saying that the current five – 10 per cent drop will likely be…
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EPM: Feature Interview
Learning to fly: Tameka Smith
Taking out the number one spot in PM Transform 2018 wasn’t the goal for Tameka Smith when she decided to enrol. The director of Key2 Property in Launceston didn’t even realise the program had a competitive aspect, just entering because of her love of training. But her dedication to betterment in both herself and the industry saw her top the leaderboard.…
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FRANCHISE NEWS
Sam Outch joins DiJONES Beecroft
The team at DiJONES Beecroft has been enhanced with the appointment of sales agent Sam Outch, who will focus on the Cherrybrook area. DiJONES CEO Rob Ward said Sam’s appointment fits into the business’s strategic plan of investing in new talent through coaching and mentoring. “As a local, Sam’s knowledge of Cherrybrook is outstanding,” Mr Ward said. “Since commencing his real estate…
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INDUSTRY NEWS
Banking Royal Commission releases interim report: What you need to know
The Royal Commission released their interim report last week from the investigation into Misconduct in the Banking, Superannuation and Financial Services Industry. The report has called into question how buyers are assessed for loans and is likely to mean serviceability will continue to tighten. The report also called ASIC into question for failing to police the banking sector and highlighted…
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INDUSTRY NEWS
Majority of NSW markets in decline as SA and QLD heat up in October 2018: Herron Todd White
The October 2018 issue of the Month In Review report from independent property valuation and advisory firm Herron Todd White shows that the majority of markets in New South Wales are either at their peak or declining, while Brisbane and Adelaide are still on the rise. Residential According to the firm’s Residential Property Clock, NSW’s North Coast region, including Coffs…
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Real Estate News
Queensland becomes next state to face widespread rental reforms
The Queensland Government has announced a state-wide consultation to be followed with reforms to residential tenancy laws for renters and property owners. The consultation began on 30 September and will involve renters, landlords and real estate agents being contacted and asked for their views around the changing market and how successful the current system is. The reviews of the 40-year-old…
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INDUSTRY NEWS
“Legislative and regulatory disaster”: REINSW hits out at NSW Fair Trading
With a public letter of resignation, the Real Estate Institute of New South Wales has resigned from the Real Estate Reference Group and their position of providing real estate consultancy services to NSW Fair Trading. “Throughout the term of RERG, NSW Fair Trading has exhibited a demonstrable obedience to misguided philosophical views which have impeded, or entirely restrained, many beneficial…
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FEATURE INTERVIEWS
No plan B: How Matthew Farrugia conquered the Central Coast in 12 months
Real estate wasn’t always the goal for Matthew. He was working in a golf shop, trying to break into the golfing industry, when he first thought about making the switch. Through his work he had met several agents, and when he expressed an interest one of them offered him a job. “I walked in on my two-year anniversary at the…
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Elite Agent
NSW rental laws set for biggest reform in two decades
For the first time in more than two decades, NSW rental laws are set for a massive shakeup. Major changes include limitations on rental increases and set fees for breaking a fixed-term lease. The reforms also look to bring in no penalties for domestic violence victims who break a lease. Other changes include minimum standards being introduced around access to…
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INDUSTRY NEWS
Agents could bear the brunt of new anti-money laundering crackdown
Furthering the crackdown surrounding anti-money laundering rules in foreign investment, the government is considering relying on real estate agents to report suspicious purchases by foreign buyers. The joint public accounts and audit committee is reviewing the deficiencies in data around the foreign investment regime, with the ATO announcing on Wednesday they had conducted 4600 investigations into potential breaches since 2015.…
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SUPPLIER NEWS
Domain launches in-house data and insights department
Domain has added a data and insights unit to its content division, Domain Research House. The unit will be led by Tobias Johnstone, content and data director for the department. It will provide Domain readers and clients with insights drawn from internal data. Trent Wiltshire of The Reserve Bank has been appointed as economist for the unit, Domain’s Dr Nicola…
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INDUSTRY NEWS
ANZ and CBA follow Westpac in home loan rate hike
Following last week’s announcement from Westpac that they would be raising their variable home loan rates by 14 basis points, ANZ and the Commonwealth Bank have announced they will raise rates by 16 and 15 basis points respectively. “The latest interest rate hike from ANZ and the Commonwealth Bank comes as no surprise after Westpac opened the floodgates earlier. The big…
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TECH + SOCIAL
How to successfully outsource your IT
We can outsource almost everything in our lives, from our accounts to our cleaning. But how do we go about finding the right IT solution for our real estate businesses? First things first: when it comes to outsourcing your IT you’re looking for a managed service provider. This is instead of a ‘break it and fix it’ option, where you’ve…
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INDUSTRY NEWS
Top Takeaways from The Business of Real Estate Day 2
The Business of Real Estate 2018 finished up yesterday on the Gold Coast with real estate professionals and leaders gathering for sessions on delivering more than customer expectations and improving the PM division of their business. Here are the top takeaways from Day Two. Good CX needs good TX Do you care for your team? Do you spend time connecting…
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INDUSTRY NEWS
Top Takeaways from The Business of Real Estate Day 1
The Business of Real Estate 2018 kicked off yesterday on the Gold Coast with real estate professionals and leaders gathering for sessions on delivering superior customer experiences to savvy consumers. Here are the top takeaways from Day One. Does your team actually know the difference between customer service and customer experience? If they don’t, you need to address that. You…
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Real Estate News
Western offices shine at hockingstuart awards
Leading Victorian real estate agency, hockingstuart, celebrated another stellar year at their 2018 awards night on Thursday 23rd August. The annual ceremony held at Forum Theatre, celebrates the achievements of employees and offices over the past financial year, with sales growth, market share and customer service all propelling agents to the awards stage. Offices in Melbourne’s west proved to be the…
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INDUSTRY NEWS
Experts say Spring will predict how the Australian property will act over the next 12 months
The first weekend in September traditionally sees a boost in listings across the country, as the warmer weather hits and sellers begin to emerge. With the current listing numbers down significantly on the same time last year, the boom has well and truly worn off, and experts are predicting we’ll be able to see how the market will act over…
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FRANCHISE NEWS
Purplebricks parts company with national sales director
Purplebricks Australia have confirmed that former McGrath agent Brent May has left the company. Mr May was with the fixed-fee agency for approximately 12 months. A Purplebricks spokesperson confirmed to the Australian Financial Review that Mr May’s departure was by “mutual consent” with Kenny Bruce, Purplebricks co-founder and group sales director. The spokesperson went on to say the move would…
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Elite Agent
The argument for allowing pets in rentals: Agencies show their support
One of the contributing factors to the fact 100,000 dogs and cats are surrendered to the RSPCA each year is the inability for tenants to find pet-friendly housing. A recent overhaul of the pet laws for landlords and tenants by the Victorian government is not expected to come into place until 2019, but some agencies are looking to make the…
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SUPPLIER NEWS
Openn Negotiation makes push for market share in Victoria with State Manager appointment
Online bidding platform Openn Negotiation is strengthening their position in Victoria with the appointment of Mark Levin as State Manager. Mr Levin brings 18 years’ experience from REA Group, Westpac Bank and STA Travel to the role. Mr Levin is a firm believer in the importance of agents in the buying and selling process, and looks to broaden the Openn…
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EPM: Feature Interview
How to perfect the customer experience: Danelle Hunter
“I don’t like being quiet,” says Danelle Hunter. It’s why she chose a career in property management and what keeps her so responsive to her clients. Danelle’s customer service dedication culminated in 2017 with a win at the AREAs, where she took the title for Excellence in Customer Service – Residential. But it’s clear that Danelle isn’t in it for…
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INDUSTRY NEWS
US-based brokerage Compass to acquire Pacific Union International Realty
A plan has been announced for US-based brokerage Compass to acquire Pacific Union International Realty, one of the largest brokerages on the West Coast. Pacific Union made $14 billion in sales in the last year and is the fifth-largest brokerage in the US, with 1,700 agents across 54 offices. Pacific Union CEO Mark McLaughlin has been critical of Compass in…
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INDUSTRY NEWS
Top Ten Takeaways from ARPM Day 2
The Australasian Residential Property Management Conference (ARPM) kicked off yesterday with a whole host of speakers sharing tools and insights for property managers and principals. Here are ten great takeaways from Day 2. 10. Fake reviews = fake news and they’re bad for your business REA Group’s Nigel Dalton says businesses don’t know enough about where their reviews are coming…
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INDUSTRY NEWS
Top Ten Takeaways from ARPM Day 1
The Australasian Residential Property Management Conference (ARPM) kicked off yesterday with a whole host of speakers sharing tools and insights for property managers and principals. Here are ten great takeaways from Day 1. 10. Recover your workday Lauren Kirk of Real+ discussed how our need for immediacy (ordering your coffee via an app anyone?) is affecting our ability to realise…
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INDUSTRY NEWS
Reapit demos new platform at ARPM 2018, showcasing Agentbox integration
CRM and property management solution platform Reapit were at ARPM 2018 demonstrating the first phase of their partnership with leading Australian real estate CRM solution Agentbox. The Reapit Group is a leading provider of CRM and property management solutions in the UK residential real estate space. The company first announced their partnership with Agentbox in May this year, and are in…
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CASE STUDIES
How to make outsourcing in the Philippines work for you
The idea of outsourcing often conjures up images of large factories or warehouses with bad working conditions, but the Beepo offices in the Clark Freeport and Special Economic Zone in the Philippines look much the same as any you would find elsewhere in the world. Split across two levels, with offices upstairs and a reception, canteen and break rooms downstairs, the…
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INDUSTRY NEWS
New Zealand bans sale of property to foreign buyers
In a bid to fix a growing affordability issue, the New Zealand government has passed the Overseas Investment Amendment Bill. The bill will stop the majority of non-resident foreign buyers from purchasing existing property in New Zealand. It passed on Wednesday night by 63 votes to 57. The plan was announced in October to end the purchase of existing houses…
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EPM: Feature Interview
Property managers love problems: Sam Nokes
After more than a decade in property management, Sam Nokes has worked his way up to Head of Department at Jellis Craig. Overseeing a team of 24 who manage a rent roll of over 1,600 properties, he’s also learned a thing or two about problem-solving. Sam spoke with Hannah Blackiston about his career, just how it is he tackles all…
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Real Estate News
Melbourne falls from top of liveability ranking as Sydney rises
For the first time in seven years Melbourne has been knocked from the top of the The Global Liveability Index. The ranking, produced by The Economist Intelligence Unit, has put Vienna, Austria, in the top position for 2018, moving Melbourne to second place. The upset comes as Sydney rises significantly through the ranking, up to fifth position from 11th last…
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