Real Estate News
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Using online sales platforms during COVID-19: words of advice.
With the growing number of COVID-19 cases each day, agents are being forced to limit interactions, physical contact and social gatherings: all staples on every agent’s to-do list. For an industry whose lifeblood is dealing with people, this is a huge curveball to overcome for the real estate sector – agents need to come up with new ways to market…
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REIA seeks award variation from Fair Work to keep industry employed
The REIA, on behalf of the state and territory Real Estate Institutes, has made a submission to the Fair Work Commission to vary the Real Estate Industry Award 2020 in response to the COVID-19 pandemic to keep as many real estate salespeople employed as possible. “Currently the Award requires that an agent make at least $54.5k pa – the Minimum…
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Jon Snead of The Agency: The value of unexpected kindness
As more and more COVID-19 social restrictions came into play, Jon Snead of The Agency Neutral Bay found himself increasingly preoccupied with ways he could help – not just as an agent but as a member of his community. Ultimately, he created ‘rescue packs’ comprising essential items for the vulnerable. Beautiful in its simplicity, it has gone viral as a…
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Clearance rate weighed down by withdrawn auctions
Over 3000 properties were slated to go under the hammer this weekend. But according to CoreLogic 45 per cent were withdrawn from sale and a further 84 per cent of auctions sold prior to the event, resulting in a preliminary clearance rate of 48 per cent.
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Progress made on code of conduct for commercial tenancies
The Property Council of Australia has noted today's direction from the National Cabinet for the development of an industry code of conduct for commercial tenancy. "We have been engaging closely with the Commonwealth, state and territory governments on these issues, and will continue to do so to provide the certainty that landlords, tenants and governments…
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REIA president speaks out in support of the real estate industry
REIA President Adrian Kelly has addressed the comments made by Opposition Leader Anthony Albanese and his concerns over the actions of some real estate agents. Mr Kelly's comments come as "Firstly, I agree that estate agents providing financial advice to tenants is clearly illegal and the REIA doesn't condone it," said Mr Kelly. "To condemn…
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REIV calls for a 6-month moratorium on changes to rental laws
The Real Estate Institute of Victoria has called on the Andrews’ Government to push out the commencement date of more than 130 rental law changes due to commence on 1 July. REIV President Leah Calnan stressed that Victoria’s focus needs to be solely on battling Coronavirus and keeping jobs sustainable, and now is not the time to be introducing new…
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Maintaining a leadership mindset in the midst of COVID-19
Going old-school – No one knows how long the pandemic and social distancing is going to last, so you should be making significant changes to your business processes. It’s a lot like real estate in the old days where we didn’t have open homes or auctions, only private viewings – and it worked. Stay calm – The right strategy and…
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realestate.com.au launches online auction integration to support social distancing
realestate.com.au has announced the launch of Online Auctions to further support the property industry in adapting to new operating conditions. The new feature enables real estate agents to promote their vendor’s upcoming online auction on realestate.com.au and seamlessly link through to an online auction technology platform. REA Group General Manager Core Products, Tim Bradley said, similar to the launch of Digital Inspections last week, the turnaround time for…
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Gower Buchanan of Ray White NZ – Never more relevant than now
In New Zealand, the response to Coronavirus ramped up quickly, with the country given just 48 hours to prepare for full lockdown. Wherever people stayed the night of March 25, they were told to remain. All but essential services shut down. All businesses except supermarkets, pharmacies, clinics and lifeline utilities closed their doors. Ray White Ponsonby director Gower Buchanan notes…
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How to manage your finances through the pandemic
Concerning new research reveals 4.2 million working Australians were living hand to mouth well before the coronavirus crisis. Now, with potentially millions of people without savings facing unemployment in the wake of the shutdowns, experts are asking if the Government’s cash handouts can get struggling Aussies through the crisis? The findings come from an independent survey of a nationally representative…
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The real cost of a repayment pause – and how you can minimise the fallout
CBA's announcement today that customers who take a six-month repayment pause will be refunded interest-on-interest charges during this time will help families struggling to make ends meet. This measure, and the major banks' offer of a repayment pause for people in severe financial hardship will help thousands of Australians at a time when they need…
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Moratorium on evictions is not a free ride: Housing Minster
REIA president Adrian Kelly said he welcomed the Minister for Housing Michael Sukkar's words which were a clarification on what a moratorium on evictions means. "A moratorium on evictions doesn't mean rent is not payable, it is. If circumstances mean that payment in full is not possible it is a holding off from payments, not…
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House price growth begins to slow
Despite the unprecedented social distancing measures put in place to stop the spread of the coronavirus, home values across the country pushed higher in March. According to the latest data from CoreLogic, prices rose by 1.1 per cent in Sydney, 0.4 per cent in Melbourne, 0.6 per cent in Brisbane and Canberra, 0.5 per cent in Perth and 2 per…
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Growth with a “best service” focus for Ray White
The Ray White Group is going from strength to strength in the Logan region, just south of Brisbane, with two talented acreage sales specialists joining the Marsden and Beenleigh offices. Kristie Steele and Brooke Collegde are transferring from Ray White Browns Plains to Ray White Beenleigh and Ray White Marsden respectively, following the retirement of…
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RE/MAX unifies its national presence
RE/MAX Australia has consolidated its Australian reach with the West Australian RE/MAX network now aligned with the Australian master franchise. Leading RE/MAX Australia are managing director Michael Davoren and directors Chris Chapman, Joel Davoren and Josh Davoren. "Acquiring the West Australian network is an exciting step forward for the RE/MAX brand in Australia," said Michael…
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Safety, certainty and empathy: How real estate agents can help buyers and sellers during COVID-19
As part of our suite of tools for managing the business of real estate during COVID-19, Claudio Encina and Matt Lahood joined Sam McLean to share their insight into how agents can help buyers, sellers and their communities during COVID-19
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The Agency implements measures to protect jobs and ensure team retention
The Agency Group has announced a raft of business continuity measures to ensure staff retention during the current COVID-19 pandemic. Noting the measures had been welcomed by the vast majority of its staff, they said the initiatives would have no impact on group’s ability to deliver industry-leading real estate services to its clients, property agents, home buyers and sellers, landlords…
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REIA president Adrian Kelly calls on stakeholders to step up over rent relief
As the real estate sector awaits a government announcement on rent relief, REIA president Adrian Kelly has issued an open letter to all stakeholders, urging them to step up and consider all sides of the equation. Addressing tenants, property owners, landlords, lobby groups, the industry and State Governments, Mr Kelly minced few words as he outlined the current state of…
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JobKeeper payment announced to help business retain employees
The Federal Government has injected a further $130 billion into the economy through the establishment of a JobKeeper payment in a bid to keep businesses operating and their employees in work. Announced on Monday, the latest tranche of support funding is specifically targeted at keeping people employed and is designed to support an estimated 6 million Australians through a new…
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The real estate industry turns to virtual tours to keep it moving forward
COVID-19 is seeing the real estate industry rapidly ramp up its use of technology, with virtual tours among the tools which are being embraced to keep transactions flowing.
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New remote property inspection app protects tenants and property managers
Leading property industry technology solutions firm - Realm Australia, is encouraging property managers to make use of its new Rental Property Self-Inspection app to help protect staff and tenants from possible exposure to the COVID-19 virus. The Rental Property Self-Inspection app uses innovative AI technology to facilitate tenants performing remote inspections, with a full report…
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A six-month moratorium on rental evictions, but still no support for agents
Prime Minister Scott Morrison has formally announced a six-month moratorium on evictions for commercial and residential tenants. The announcement came late Sunday as cabinet continues to work on the release of a full rent relief package. Mr Morrison said the issue of commercial and residential tenants in distress had been further discussed at today’s national cabinet meeting, but there was…
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High volumes, lower clearance as auctions go online
Auction volumes were high, but as expected, the preliminary clearance rate took a hit across the capitals this week, falling to 61.3 per cent amid continued uncertainty surrounding COVID-19. It wasn’t for lack of innovation, however as agents worked hard to adapt to a fast-changing environment. This week was the first to see all auctions…
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Additional $1.1B relief package to help battling Aussies
More help will be given to millions of Australians battling the devastating impacts of coronavirus with a $1.1 billion package which boosts mental health services, domestic violence support, Medicare assistance for people at home and emergency food relief. Prime Minister Scott Morrison said more support would be rolling out immediately to deal with the secondary…
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Victorian property sells $52k over reserve with Openn Negotiation
Online real estate auction platform Openn Negotiation has reported a successful weekend as the industry turns to the online realm for property auctions. Open Negotiation said its first sale for the weekend occurred at 6pm Friday night, shepherding in a positive weekend of activity. “34 Maitland Street, Geelong West, Victoria has just been successfully sold by Real Estate Geelong agent…
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COVID-19 – McGrath sees public endorse auction live streams
Online auctions and virtual inspections are proving successful, according to McGrath Estate Agents, who note the real estate industry has adapted quickly to the necessary legislation of social distancing. “We have painstakingly worked with our agents to ensure that we exceed the safety requirements around COVID-19 of social distancing of between more than 4 square meters, and we’re delighted to…
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Property Council welcomes ‘business hibernation’ plan
The Property Council has welcomed the commitment of the Commonwealth, state and territory governments to develop a package of measures to help Australian businesses get through the current economic crisis caused by the coronavirus outbreak. “The Prime Minister’s proposal for a ‘business hibernation’ package recognises the critical importance of helping as many Australian businesses make it through this extremely challenging…
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The Eview Group – Setting up for the comeback
It’s far from business as usual but Manos and Maria Findikakis note it is business non-the-less at their offices all over Australia. This weekend their agents managed to secure a number of contracts despite the challenge of no open homes and a government rent relief package that remains up in the air. In the interim,…
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Rent relief remains a work in progress: Scott Morrison
Formal action on rent relief remains a work in progress, with Prime Minister Scott Morrison today explaining it will form part of Australia’s “innovative” tranche three stimulus package which is designed to support business and individuals. Earlier today the PM met with premiers and chief ministers via a virtual national cabinet meeting, discussing the “contentious” issue of commercial and residential…
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Real Estate Industry waits for a COVID-19 rent relief decision
The real estate industry is just hours away from learning how the nation will handle rent distress for residential and commercial tenants. Due to be discussed in a national cabinet meeting this morning, the focus is expected to centre around rent relief including a possible national stimulus package to underwrite commercial rents, rates, and taxes, and could include a moratorium…
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Kylie Walsh of DiJONES – A stronger industry, embracing change
DiJONES’ general manager Kylie Walsh is no stranger to innovation, but in recent weeks she reflects the whole industry has been forced to innovate at speed. “As an industry, real estate has been very slow to change,” she notes. “But this event will force us to…
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How a pandemic will shape communities
COVID-19 is challenging many conventions within urban development across the globe. While the pandemic is seeing Australians adopt unprecedented social distancing measures, potential lockdowns require residents to live, work, learn, and shop for daily needs and undertake passive recreational activities within their own neighbourhoods. One of Australia’s leading urban planners and designers believes that the…
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Property valuers call for equity release during COVID-19 crisis
Australia’s largest independent property valuation and advisory firm has called for easier access to existing equity in homes and investment properties would to ease financial pressure for Aussies during the COVID-19 crisis. Herron Todd White CEO Gary Brinkworth said both the government and regulators must urgently work with financiers to unlock this source of stored wealth and help struggling individuals…
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Daniel Lee of Plum Property – Picking up the tools to make the best of it
Daniel Lee of Plum Property – a Brisbane brand quickly gaining attention for its nifty use of video – is taking extensive precautions against COVID-19 with the aim of protecting both his 20-plus staff and his valued clientele. Open homesOf course, this playing field altered on Monday night with news open homes and auctions would no longer continue, but up…
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