Real Estate News
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REIA announces 2020 REIA National Awards for Excellence winners
The Real Estate Institute of Australia (REIA) announce the winners of the 15th National Awards for Excellence. Due to the measures currently in place surrounding COVID-19, the event planned to be held in Darwin on 2 April 2020 was cancelled. REIA President Adrian Kelly said whilst this was disappointing it was inevitable for the safety and wellbeing of all concerned. …
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realestate.com.au launches digital inspections
realestate.com.au has announced the launch of a new digital feature to support real estate agents. The move is in response to the government's stricter social distancing measures and allows agents to connect with more consumers in a way that reflects today’s environment with limited social interactions. In light of new government restrictions on group open-for-inspections,…
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How to make your business more financially resilient
John Knight is a qualified accountant and business strategist who shared his tips on business resilience in the face of Coronavirus with Sam McLean
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Open homes and auctions halted
Real estate auctions and open homes are the latest casualties of the COVID-19 pandemic, with Prime Minister Scott Morrison tonight announcing these were among the events that “cannot continue” in a bid to combat Coronavirus. In an address to the nation, the PM labelled 2020 the toughest year for Australians “Our goal is to combat this together by following common-sense…
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Ray White lobbies for ‘essential’ real estate services
The Ray White Group, along with all major real estate brands, is set to lobby the Federal Government in order for its national members to be deemed an “essential service”, the same as the financial services industry, in a bid to prevent a catastrophic fallout in the property sector. Ray White Group Managing Director Dan…
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Conduct of open homes and public auctions by real estate agents
On Sunday night, the Prime Minister made it very clear that all Australians should immediately cease unnecessary travel and cease all unnecessary social interaction in order to limit the spread of the Coronavirus. With this in mind, the Real Estate Institute of Australia is now calling on all real estate agents across Australia to make significant changes to the way…
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REIA Awards for Excellence cancelled
The recently postponed REIA National Awards for Excellence have now been cancelled completely for 2020. President Adrian Kelly said, considering all the unknown factors of the coronavirus pandemic, it was the wisest course of action to take. “Postponing the awards until October is still too risky when we don’t know what the future holds, particularly in terms of public gatherings…
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Property reforms commence in NSW today
The real estate and property reforms start today – Monday, 23 March 2020.If you have a certificate of registration or a licence to work in the property services industry in NSW the following changes have occurred. If you are currently a nominated LIC or a sole trader and have notified Fair Trading you are now transitioned to a Class 1…
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A new way of doing business is crucial: Ouwens Casserly
Ouwens Casserly Real Estate is looking to be among the industry leaders in response to coronavirus, with staff already trialling remote working arrangements to service a strong South Australian property market. From last Thursday, Ouwens Casserly Real Estate began trialling remote working arrangements for its 100+ staff, who are usually based at six sites across metropolitan Adelaide. Mr Casserly said…
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Tenants may get rent relief but landlords need protection too
The Australian Government, in conjunction with the State Governments is considering new measures to protect tenants who are unable to pay their rent due to COVID-19.
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Auctions busy, but clearance rate slows
This week proved the second busiest for auction activity in 2020, however the preliminary clearance rate took a hit as a result of continued uncertainty around COVID-19. According to the latest figures from CoreLogic, this weekend saw 2,539 homes taken to auction across the combined capital cities, returning a preliminary auction clearance rate of 61.3…
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Government announces further measures for business to save jobs during coronavirus crisis
The Federal Government has released the second stage of its economic plan to cushion the economic impact of the coronavirus and help build a bridge to recovery. A total of $189 billion is being injected into the economy by all arms of government in order to keep Australians in work and businesses in business. This includes $17.6 billion for the…
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UK Government provides protection for renters affected by coronavirus
The Ministry of Housing in the UK has announced a radical package of measures to protect renters and landlords affected by coronavirus. As a result, no renter in either social or private accommodation will be forced out of their home during this difficult time. The government department, in a press release, said that emergency legislation will be taken forward as…
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‘New normal’ continues to create competition at auction
The agility of Ray White members to adapt to the new rules surrounding large gatherings passed its first hurdle this week with many successful auction events safely held across the country. Ray White‘s members had 101 auctions scheduled on Wednesday night and the early indications are that 69 per cent have sold, with more 3.8 registered bidders per property and…
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VR real estate group offers support to industry facing changes during pandemic
A real estate company that operates virtually contact-free is offering to share its secrets with others in the industry as it stares down the barrel of uncertainty due to the coronavirus outbreak. Although they never predicted a pandemic, Kindred Property Group had already developed virtual property tours on more than 90 per cent of its listings and boasts Australia’s only…
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Realmark makes proactive move online
A recent investment in technology will come to the fore at WA’s Realmark Group should the need arise to work remotely as a result of the coronavirus pandemic. The Realmark Group has worked to proactively implement working from home for teams, rolling out procedures and policies last week to ensure they were working in the best interest of the teams,…
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Vendor Paid Advertising works – don’t kill it
The emerging trend of ‘off-market’ sales is putting some vendors at risk of underselling their properties, one real estate CEO has warned the industry. Starr Partners CEO Douglas Driscoll said it’s not inconceivable that some people could be underselling their homes by as much as five per cent, which, on a $1 million property – the median price of a…
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How real estate agents can market property in the age of COVID-19
With an estimated 115,000 listings on the market (according to CoreLogic), agencies are looking for solutions that allow them to continue to transact property – particularly if consumers are subject to further isolation and quarantine measures which can make the familiar arrangements a challenge. Strategies to contain the spread of the virus, such as enforced isolation and public gathering restrictions,…
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Coronavirus fallout prompts RBA to slash rates
The RBA has officially cut interest rates to their lowest level on record in the fight against the economic fallout from the coronavirus. In an emergency meeting yesterday, the RBA reduced the official cash rate to 0.25 per cent down from 0.5 per cent. The RBA has only recently cut the cash rate from 0.75 per cent at its monthly…
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REIV works with Government to assist landlords and tenants
With real estate agents, landlords and tenants all facing uncertainty due to the spread of coronavirus, the Real Estate Institute of Victoria is investigating concerns from conducting inspections safely through to dealing with rental arrears. REIV is seeking clarification from Consumer Affairs Victoria regarding some current practical matters to provide some clarity to all stakeholders. Some of the matters raised…
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REIWA calls for safeguards in wake of coronavirus
REIWA is urging the state government to consider additional rent assistance for residential tenants who lose their jobs and safeguards for landlords if the tenant can no longer afford to pay rent as a result of the coronavirus pandemic. It comes as welfare and arts bodies call for a ban on housing evictions over the next few months to support…
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realestate.com.au to defer price changes; postpone customer events; assures customers of support through “unprecedented conditions”
As the spread of COVID-19 continues to impact the global community, REA has announced this morning they will postpone customer events and provide additional support customers where possible during this time. A statement from Group CEO Owen Wilson this morning said, “We are focused on the health and safety of our employees, their families and our local communities. “We are…
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AREC deferred due to virus
Total Real Estate Training (TRET) has today advised that due to the risks associated with the Coronavirus pandemic, The Australasian Real Estate Conference (AREC 2020) that was to have been held on the Gold Coast on Sunday 31st May and Monday, June 1, will be deferred. Nichola Byrne, General Manager of TRET, the organiser of AREC said, “We believe this…
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Barry Plant celebrates history and growth
The Barry Plant brand is celebrating both its history and its future, with the first dedicated commercial sales office opening in Melbourne as Barry Plant Reservoir marks 41 years in the industry. Located on St Kilda Road right on the edge of Melbourne’s CBD, the commercial sales office is the only dedicated commercial office in the group. It is headed…
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RE/MAX recognise leaders at R4, Las Vegas
Twenty-eight Australian and New Zealand RE/MAX members last month travelled to Las Vegas for the 47th annual R4 Convention. Offering the opportunity to rub shoulders with thousands of the network’s agents, owners and affiliates the agents, the convention also saw numerous Australian and New Zealand teams recognised with awards. RE/MAX Australia’s Daniel Burrett from Toowoomba was named as the 2019 RE/MAX…
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NSW GEM Award winners announced
First National Real Estate’s NSW estate agents celebrated a year of success at their General Excellence and Marketing Awards on Saturday night. The awards recognised the outcomes achieved by the state’s agents throughout 2019, with top 10 individuals and offices now vying for National GEM Awards, which are announced in May.Agents reaching the national top 10 will be invited to…
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Perth CBD leads the way as office market gains momentum
The Perth office markets are gaining momentum despite little improvement in Western Australia’s employment and population situation, according to Ray White’s latest Between the Lines commercial research. The report notes that, after several years of reduced sentiment and pressure on the office markets, Perth has started its recovery mode.“During the latter part of 2019, we’ve seen momentum build, resulting in real…
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LJ Hooker launches new brand tagline
LJ Hooker has announced its new brand tagline which looks to connect with consumers of today during their big life moments, such as buying or selling their home. The new tagline ‘When you know, you know’ empowers the consumer and refers to the instinctual side of decision-making, while also encapsulating LJ Hooker’s industry knowledge and experience. The tagline is a…
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Whatever it takes – RBA looks to expansionary monetary policy
In the wake of the COVID-19 pandemic, the Reserve Bank of Australia has announced it is re-starting quantitative easing measures to support Australia’s financial system. A statement today from Governer Philip Lowe says the RBA is working closely with the Australian Government to ensure that Australia’s financial markets continue to operate effectively and that credit is available to households and…
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realtor.com to show three value estimates for sale and off-market homes
In the US, realtor.com has announced it will now display estimated property values from three widely respected sources on for-sale and off-market properties. To provide more insight into a home’s value, realtor.com is partnering with the same trusted data providers used by lenders and insurance companies to estimate a property’s value. While not an appraisal, this data will empower consumers to make…
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Auctions continue to defy doom and gloom
Auction markets remain strong despite coronavirus concerns, with 2220 properties taken to auction across the capitals this week, returning a preliminary clearance rate of 70.6 per cent. CoreLogic notes this figure is well above last week’s national volume when 1,494 auctions returned a final clearance rate of 68.6 per cent. “After the remaining results are collected it is likely that…
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McGrath trials coronavirus safety plan
McGrath Limited is proactively trying out a safe working environment should the need for staff to work remotely arise in the wake coronavirus outbreak. While the real estate company hasn’t been impacted by the crisis internally, McGrath CEO Geoff Lucas said they want to proactively plan and test operating systems to ensure the business continues to run smoothly should the…
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Stimulus supports property industry – but will it be enough?
“HIA welcomes the Australian Government stimulus package, particularly the support provided for apprentices,” said HIA Chief Economist, Tim Reardon. “The residential building industry has contracted by around 20 per cent from its peak during the May 2018 quarter and most indicators showed an improvement in conditions in the second half of 2019. “Australia is emerging…
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Ray White plans pawsome day to connect with community
Property group Ray White is planning a national Backyard Pooch Party event with offices across the country joining in to raise funds for various animal focused charities such as RSPCA and the World Wildlife Fund. Held at local parks and open to anyone to join on March 29 across Australia, will consist of a picnic…
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Hannah Gill named an ACT Telstra Business Woman of the Year
The Managing Director of a Canberra property management business has been named as one of five Telstra Business Women of the Year in the Australian Capital Territory. Independent Property Management’s Hannah Gill won the medium and large business award this week and will go on to the National Awards in Sydney in May. Ms Gill is a highly regarded professional…
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