INDUSTRY NEWS
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AI-powered commercial lending platform has launched
Lenflo, an entirely paperless and AI-powered commercial lending platform for brokers and borrowers has officially been launched. Developed by commercial lender Global Capital Commercial, the platform offers more than 450 lenders and has the capacity for $1bn in settlements per month with its developer predicting that it will boost commercial loan approvals by 500 per cent. According to Global Capital Commercial,…
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REIQ appoints new digital-focused General Manager
The REIQ is one step closer to finalising its digital transformation with the appointment of its new General Manager, Josh Callaghan. Mr Callaghan, who was previously the General Manager of financial comparison site Canstar and also co-founder of FinTech Queensland, says he is excited to take on this new challenge of REIQ’s transformation. “Real estate is dear to all Australians…
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Savills Queensland have welcomed two new graduates to the 2019 program
Savills Queensland has announced the appointment of Michael Fowler and Sophie Dong to the graduate program for 2019. Michael Fowler is currently undertaking a Bachelor of Property Economics with minors in Economics & Valuations, due for completion at the end of 2019. Mr Fowler said he believes the programme will work hand-in-hand with what he is learning through his studies,…
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First National have announced the top Queensland General Excellence and Marketing Award winners
These awards recognised the best of First National’s QLD agents throughout 2018, with the top 10 individuals and offices now in the running for a national GEM Award. This will include an all-expenses-paid trip for the top 10 national winners to the National Association of Realtors conference in San Francisco this November. QLD State Chairman David Forrest says the results…
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realestate.com.au launch new competition to re-imagine the rental experience
realestate.com.au have today launched The Real Ideas Prize, a new ‘shark tank’ style competition for those who work in real estate to pitch their big idea on how to improve the rental experience. Contestants from around the country will have the chance to win a share of $100,000 and access to leading industry mentors to help bring their idea to…
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New president elected to lead NSW Property Council
The New South Wales Division of the Property Council of Australia has elected a new Division Council and President for the next two years. Carl Schibrowski, Head of Development for Brookfield Properties, has been elected the new NSW President. Carl holds has held senior roles at Charter Hall, Macquarie and Lend Lease and has worked internationally in Spain and the United…
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Jellis Craig launches innovative suburb reporting
Victorian boutique group Jellis Craig have launched an innovative resource to help buyers and sellers make informed property decisions. Suburb Reports are based on data sourced through Core Logic and are designed to provide potential and existing clients with up-to-date market insights while helping to drive leads for the group. Jellis Craig CEO Nick Dowling believes that the new reports…
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Victoria continues to lead First Home Buyer Market as each capital improves in different sectors
The Adelaide Bank/REIA Affordability Report for the December quarter 2018 showed a slight decline in housing affordability nationally with the proportion of income required to meet loan repayments increasing to 31.2 per cent, up by point one per cent. However, it showed an improvement of point four per cent when compared to the December Quarter of 2017. “When we look…
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March 2019: RBA rates unchanged, industry responds
Yesterday (5 March 2019), the RBA Board decided to leave the cash rate unchanged at 1.50 per cent for its 27th consecutive meeting. Here’s a quick rundown of what went down! With respect to the housing market: After the earlier large run-up in prices, the adjustment in the Sydney and Melbourne housing markets is continuing as conditions remain soft in…
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Andrew Bell says there will be an urgency among property buyers on the election leadup
The Gold Coast property market may be getting an unexpected shot in the arm from the federal election, according to Ray White Surfers Paradise Group (RWSP). RWSP CEO Andrew Bell says he has noted an emerging sense of urgency among some buyers eager to lock in a purchase sooner rather than later. These buyers are factoring in a change of…
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CoreLogic Home Value Index: Downward trend continues in February
CoreLogic released its February home value index results showing a a fall of 0.7%, across the combined capitals increasing the cumulative decline to -6.8% since values last peaked in October 2017. Head of research at CoreLogic, Tim Lawless said, “The fact that we are seeing weakening housing market conditions across regions where home values were previously rising at a sustainable…
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rent.com.au release half-year report
rent.com.au (ASX:RNT) released their half-year results this week, showing improved revenue for 2018 was $1.05 million with a net EBITDA loss of $1.3 million, a 21.5 per cent improvement on losses reported in the previous financial year. The Group say they have continued to realise a savings benefit from ongoing search engine optimisation and other work done in previous periods…
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Finalists revealed for the 2019 REIA awards
The Real Estate Institute of Australia (REIA) has announced the finalists for its 14th Annual National Awards for Excellence, to be held at Crown Perth on Thursday 21 March 2019. REIA President Adrian Kelly said the Awards recognise the best performers across all aspects of real estate including residential and commercial agencies, residential and commercial sales, residential and commercial property…
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Online auction sees the industry’s finest coaching talent up for bids
Never one to shy away from a challenge, REA Director of Industry Relations and Digital Live founder Steve Carroll has upped the ante in his efforts to raise funds for disadvantaged children, with his eye now firmly fixed on a $100,000 fundraising target that will go to the charity Hands Across the Water. Last year, Steve joined forces with some…
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Real estate ‘click bait’ is great for news but bad for the economy
Celebrating 50 years in real estate this year, Mr Plant has seen a lot of property cycles but fears that this current property correction is being driven deeper by a media whose revenue is driven by clicks and views. “The person on the street could be forgiven for thinking the current property market in Victoria is headed for Armageddon –…
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Disability housing provider launches unique disability housing prototype
Specialist disability housing provider DPN Casa Capace will commence construction of an architecturally designed, resident-centric home for people with disabilities this month. DPN Casa Capace aims to scale the model to more than 700 homes in five years, in partnership with institutional investors and disability care providers. The Australia-wide homes will be worth around $1 billion and help meet the…
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Final report issued on the Opal Tower
At the request of the Hon. Anthony Roberts, Minister for Planning and Housing, an investigation was carried out into the causes of structural damage to the Opal Tower in Sydney Olympic Park, which was first observed in late December 2018. The first report stated that the Opal Tower was overall structurally sound and was not in any apparent danger of collapse,…
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Ask the Coach: How to increase listing conversion
Q. How can I increase my listing conversion? – Henry Burgoyne, Capital One Real Estate When your potential seller hires you, what are they actually buying? Ultimately, in this market, they are buying certainty. In a market where they are seeing heaps of uncertainty and negativity, every human needs to feel some level of certainty. So how can you demonstrate certainty…
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How property values impact economic growth
Here’s a breakdown of the minutes from that meeting and how different economic factors may affect the property market. With respect to GDP and economic growth, the attendees noted that The September quarter national accounts were released the day after the December meeting, with figures showing that growth in real GDP of 0.3 per cent in the quarter and 2.8 per cent over…
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Reapit Appoints Eddie Cetin to Managing Director
Reapit, a global property CRM platform provider, has appointed Eddie Cetin as Asia-Pacific (APAC) Managing Director (MD) to manage its sales and operations in the region. As CEO and co-founder of Australia’s market-leading real estate CRM software, Agentbox, for nearly 10 years, Cetin brings considerable global technology and property experience to Reapit. Working with Reapit CEO Gary Barker, Cetin’s appointment…
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Three reasons you should register for Momentum 2019
realestate.com.au has announced a new and exciting format for Momentum 2019. The series will return to Brisbane, Sydney, Melbourne, Canberra, Adelaide and Perth in March. On the line up this year is world renown motivational speaker Yossi Ghinsberg, as well as Amanda Stevens and of course Steve Carroll, realestate.com.au’s Head of Industry Relations. There will also be breakout streams for…
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Rally inspires RE/MAX network to think bigger
‘Think bigger’ was the theme of the 2019 RE/MAX Australia Rally, held this year at The Star, Gold Coast. Managing Director Michael Davoren officially commencing the day, welcoming and encouraging attendees to do just that – think big! “We’ve chosen ‘think bigger’ for our 2019 rally theme, but it is not just about ‘thinking’. It’s about creating more opportunity for…
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Ratings and reviews experience is now live on realestate.com.au
Agent Ratings and Reviews, an unbiased platform to help agents get noticed by more people on realestate.com.au, is now live. Since being launched to agents in December 2018, over 4000 ratings and reviews have been collected from genuine past buyers and sellers. These have been gathered through a combination of agent invite and direct to consumer channels to create a…
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Design based thinking : Ariel Beninca
I’m a User Experience (UX) designer for Console, which means I take the functions and features of Console Cloud and organise how best to lay out the menus, options, windows and so on. The goal is to create the best experience for people using our software To do that well, I focus on incorporating principles of user-centred design. That’s a…
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Revenue per listing up, but the future is adjacencies
Domain Holdings (ASX: DHG) released it’s 2019 half-year results on Friday, with the portal reporting a net loss of $156.4 million for the six months to December 2018. A non-cash goodwill write-down of $178.8 million drove the results into the red. Excluding this, Domain reported: Revenue growth of 0.3 per cent to $183 million EBITDA of $52.7 million Net Profit…
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Western Australia takes a step in the right direction for housing diversity according to REIWA
REIWA has commended the McGowan Government on its decision to approve the City of Fremantle’s amendments to its Local Planning Scheme to enable greater housing choice. The plan states that lots between 600 and 750 square metres will now be allowed a maximum of three dwellings, including existing dwellings. While lots over 750 square metres will be allowed an additional dwelling…
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AD Group expand into NSW and ACT
Property technology business AD Group has soared to new heights this month by taking its latest innovation, HouseandLandDevelopments.com.au into the NSW and ACT markets. The company’s latest offering is billed as a cost-effective marketing tool for the booming land market as property prices drive buyers to the outer suburbs. According to co-founder Jordan Catalano, this step was a natural progression having…
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REIQ & REA are doing their bit to ease Townsville housing shortfall
Real estate peak body The Real Estate Institute of Queensland and REA Group who own Flatmates.com.au, have come together to establish a short-term solution for Townsville’s potential housing shortfall. As the massive clean up of flooded homes continues, displaced Townsville residents and workers flying into the city to help will have an easier time finding accommodation with REIQ CEO Antonia…
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New building codes developed to ensure NSW structural designs
It isn’t hard to forget the dual evacuations of the Opal Tower residents in Sydney Olympic Park in late December 2018. Today the Minister for Innovation and Better Regulation Matt Kean announced a new set of reforms which will be brought into action. The reforms which were announced on Sunday, include the appointment of a Building Commissioner who will become the…
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REIQ Hosts Emergency Forums to help Townsville Agents
Peak body for the Queensland real estate profession The Real Estate Institute of Queensland is hosting two forums in Townsville on Wednesday 13 February to help all real estate professionals manage issues arising from the floods. REIQ CEO Antonia Mercorella said the REIQ Townsville Flood Forum was free to all Townsville real estate professionals and was designed to answer all…
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Banking Royal Commission final report demands crackdowns and compensation
The long-awaited final report from the banking Royal Commission has been handed down. The report, received by the Morrison Government on Friday 1 February and released publicly Monday 4 February, has suggested sweeping changes to the industry and 76 actionable recommendations. Commissioner Kenneth Hayne’s final 530-page report and 76 recommendations have been welcomed by the Federal Government and Labor, who…
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February 2019: Interest rates on hold, Industry reaction
Yesterday (5 February 2019), the RBA Board decided to leave the cash rate unchanged at 1.50 per cent for its 26th consecutive meeting. “Inflation remains low and stable. Over 2018, CPI inflation was 1.8 per cent and in underlying terms inflation was 1¾ per cent,” said RBA Governor Dr Philip Lowe. “Underlying inflation is expected to pick up over the next…
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CoreLogic’s January Home Index shows continued falls
CoreLogic’s January home value index shows the property market in Melbourne and Sydney continued to fall, with all capital cities apart from Canberra recording a month-on-month fall in dwelling values. CoreLogic’s hedonic home value index shows a further 1.0 per cent decline in national dwelling values over the first month of 2019, taking the cumulative decline in Australian dwelling values…
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REINSW to hold 13th annual Women in Real Estate conference to empower female professionals in the industry
The annual REINSW Women in Real Estate (WIRE) conference will return for its 13th year on 26 March, with registrations open now. The conference brings together women across the industry and well-known local and international speakers for a day of professional development and personal motivation. WIRE 2019 will be held on 26 March at the Art Gallery of NSW. The…
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New database offers first ever Landlord Report Card
In an Australian first, LIDA (Australasia) – Landlord and Investor Database for Agents – has developed a Landlord Report Card, giving property managers insight into landlords before they take them on as clients. Up until now, landlords have had the ability to swap and change agencies and property managers at will, with no information available to the new management on the…
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