April 2012 Vol 63/03

Seal the right deal Bring your best to the negotiating table

Career shift How to stay in the finishing same industry but gain a new specialty

Emotional rescue touches Keep anxiety and picture perfect property stress to a minimum for buyers, vendors and you is all about style

Adrian Bo, Principal at McGrath Coogee, talks about the value of property styling.

9

18 22 Contents APRIL 2012

REGULARS 12 LEGAL FEATURES Pets boost strata 04 Member rewards 28 communities As safe as houses 15 Seal the right deal Research shows pets can promote What the new Work Health and 05 CEO’s message Bring your best to more than just good health for their Safety legislation means for you. 06 In brief owners; they can benefit Owners the negotiating table. Corporations and agents too. 07 REINSW in the media 30 Ruling on unpaid 20 14 Career shift 40 Training calendar Australian first strata levies What a Supreme Court decision How to stay in the green innovation same industry but 42 New members means for Owners Corporations. A Sydney office has been awarded gain a new specialty. 44 Research a Six Star Green Star rating. CHAPTERS 45 Supplier directory 22 IN BUSINESS 33 COVER STORY 46 Last word High risk you can’t ignore Finishing touches 16 New WHS legislation means Recruit, retain and retrain Picture perfect property agents need to be more aware is all about style. Make sure you find, keep and train of safety at heights. the best employees for your business. NEWS 34 36 9 18 Steps to success Emotional rescue Food trumps fashion Ignorance is no defence Five tips to help you survive the Keep anxiety and stress to a minimum for buyers, on prime shopping strips What agencies should consider first few months of your career. sellers and you. Weak retail sales have made for when undertaking a self-assessment difficult leasing conditions on of their employment regime. 35 Sydney’s prime shopping strips, Cuts both ways but food remains popular. EVENTS Cutting your commission costs you and the industry. 10 26 Infrastructure investment Residential Sales Conference 38 Research rates NSW regions that Highlights of the action, speakers and Lure more landlords are in the economic fast lane. lessons from the annual conference. Tips to attract more landlords.

REINSW Major Partners

The Real Estate Journal is a member only publication from The Real Estate Journal is printed on paper the Real Estate Institute of New South Wales. To find that is totally derived from resources Average monthly out more about membership, call (02) 9264 2343, email which are managed to ensure their distribution 4,307 copies [email protected] or visit www.reinsw.com.au renewability for generations to come.

Real Estate Journal April 2012 3 MEMBER REWARDS

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4 Real Estate Journal April 2012 CEO

Playing our part in industry improvement

REINSW has been actively To achieve this outcome, requirements of members. through continuing training, can participating in both the those with carriage of NOLS It is clearly in the interest differentiate themselves from National Occupational Licensing and Project need to engage of consumers of property non-members in their market. System (NOLS) and the and consult broadly with all services and the reputation Conduct Harmonisation Project stakeholders. This will, of of the profession generally It is clearly an interesting (the Project), which is designed course, take time and REINSW that members are cognisant and challenging time for to complement NOLS. is concerned that slavish of contemporary legislative, agency practice. adherence to predetermined practice and technological We continue to wait for the timing milestones may take developments. public release of the Regulatory precedence over striving for Mandatory CPD Impact Statement (RIS), the creation of a better system. It is an implied term of all Members are reminded that which is the next phase of agreements between a completion of CPD currently the project. When the RIS is We will, of course, keep professional service provider remains mandatory for released it will enable REINSW, members informed of and their client that the certificate and licence renewal. and for that matter other Real developments in relation advisor is aware of all matters Until the NOLS position Estate Institutes nationally, to this important issue. pertaining to those services. becomes clear, agents must to have further input into the Accordingly, it is incumbent complete their CPD. development of the legislative upon the professional service instruments that will govern Training is an investment provider to dedicate sufficient If you need to clarify your licensing and the practice of It is rumoured that continuing time toward maintaining their personal circumstances, real estate in Australia. professional development (CPD) skills and knowledge. please contact REINSW by will no longer be required as calling (02) 9264 2343 or emailing Given that we have not yet a pre-condition for certificate Training should never be [email protected] sighted the RIS, it appears and licence renewal under a chore or a matter of unlikely that the nominated start NOLS. That, if adopted, runs compliance. If it is, then you are date of 1 July 2012 is achievable. contrary to the uniform and doing the wrong training. Good vocal position of the Real Estate training is an investment in the REINSW is supportive of Institutes across Australia. asset that is you, and it should both NOLS and the Project, be sought out and embraced. however our support is If the rumours prove to be true focused on creating the and the regulator proceeds in The REINSW Board will seek best system for the industry, this direction, then the REINSW input from members in relation consumers and the industry’s Board will carefully consider to training expectations and Tim McKibbin professional service providers. the training expectations and the means by which members, REINSW CEO

All the latest from the REINSW newsroom For up-to-the-minute news on issues that affect you

Real Estate Journal April 2012 5 IN BRIEF

Smoother approvals need infrastructure support

The State Government must underserviced by transport links speed up its investment in and other social infrastructure.” infrastructure to support new development. Ms Pilkington urged the NSW Government to investigate That is the message alternatives to improving from Laing+Simmons transport links and other General Manager Leanne associated infrastructure to Pilkington who says while deliver long term solutions the Government enabled without relying on developers. nominations of greenfield She said the North West Rail Link development sites in project was a good example of recognition of the need to infrastructure supporting growth. increase supply, infrastructure must also meet demand. “Continuing population growth and the prevailing housing “Without the corresponding undersupply make the level of investment in forthcoming release of the infrastructure and willingness State Infrastructure Strategy to push projects through, a critical moment for the state’s seeking to speed up future,” Ms Pilkington said. development approvals and open up landowner nominated “A strategy focused on the land for development is an long term strength of the empty gesture at best, and at employment market, provision worst could create significant of adequate housing supply to congestion and amenity support population growth, and problems,” Ms Pilkington said. the implementation of effectively planned infrastructure is “This is particularly the case necessary if Sydney is to for greenfield sites on the city’s counter worsening urban outskirts, in areas already sprawl over the long term.”

Spotlight on

The 2012 REINSW Awards necessarily need to be an Finalists and winners are able to your submission to REINSW by for Excellence can give you Award winner in order to ‘win’. promote their achievement and close of business on Thursday, the edge in your quest for make the most of their success. 14 June 2012. business success. The Awards provide an Entries open on Tuesday, opportunity to review 1 May 2012 — so start thinking Unlike many franchise awards, your business through about your submission today! KEY DATES the REINSW Awards for the submissions process. ENTRIES OPEN Excellence are not based on the Many businesses are How do I enter? Tuesday, 1 May 2012 number of sales or listings. prompted to analyse, adapt From Tuesday, 1 May 2012 you and improve their plans and will be able to download a 2012 ENTRIES CLOSE Judges are looking for strategies — which ultimately REINSW Awards for Excellence Thursday, 14 June 2012 demonstrations of innovation, leads to further success. Entry Kit from the REINSW excellence and professionalism. website, www.reinsw.com.au/ FINALISTS ANNOUNCED Defining direction, attracting Awards2012 September 2012 So whether you’re part of business opportunities WINNERS ANNOUNCED a large franchise group or and gaining a competitive Fill in the entry form and tick the Saturday, 13 October 2012 work in a small independent advantage are all benefits of Award categories you would at the REINSW Awards for agency, you’re in with a the Awards. Even if you don’t like to enter. Then, simply send Excellence Gala Dinner. chance. And you don’t win, you might be a finalist. the completed form along with

6 Real Estate Journal April 2012 No change to trust money procedures REINSW In response to queries from the Director-General with a “After a period of three months, members, the Journal asked statement in an approved form if the money is unclaimed, the IN THE NSW Fair Trading to clarify if showing particulars of the Director-General may require legislation for handling unclaimed unclaimed money held by them, the agent to send the unclaimed MEDIA trust money had changed. and details of the person the money to NSW Fair Trading. money is held on behalf of,” Agents should not send any Vacancy rates, the Fair In a statement to the Journal, the statement said. money to NSW Fair Trading Work Ombudsman’s audit of a Fair Trading spokesman said unless specifically requested agencies and recent changes there had been no change “NSW Fair Trading is however to do so. On receipt, NSW Fair to real estate agency in the legislation and the aware that some agents do Trading forwards the money to businesses have all featured consequent procedures for send the unclaimed money the NSW Treasury.” in the media recently. real estate agents’ handling with the form in January. of unclaimed trust money. Full information, including a Print However, the legislation is “When the Director-General download of the approved t
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and expansion of some real estate agencies was the focus of a story in The Daily Telegraph with Tim McKibbin commenting that it was a healthy business practice and there were still plenty Grass is greener of resources to help consumers choose Lawn can add up to $83,600 in the media and showed the and South Australia sit at the right agent. to the value of a property, humble lawn was back in favour 12 per cent and Western according to a national with buyers. Australia nine per cent. Radio survey of residential real t
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Real Estate Journal April 2012 7

NEWS

Food trumps fashion on prime shopping strips Weak retail sales have made for difficult leasing conditions on Sydney’s prime shopping strips, but food remains popular.

CBRE’s latest Sydney Retail Market View shows some precincts have felt leasing pain more than others, with particular challenges for shopping precincts with a high emphasis on fashion.

CBRE monitors seven main suburban shopping precincts: Campbell Parade, Bondi; Military Road, Mosman; the Double Bay precinct; The Corso, Manly; Darling Street, Balmain; Oxford Street, Paddington; and King Street, Newtown.

CBRE Global Research and Consulting Senior Analyst Monica Khamis said rents across these locations had fallen by an indicative rate of 1.4 per cent during 2011. At the same time the total vacancy rate rose to hit 5.5 per cent as at October 2011.

“It is likely consumers will maintain a cautious attitude this year and continue to limit despite subdued consumer precincts monitored by CBRE, leases in order to attract discretionary spending on confidence and this has at 1.8 per cent. Vacancy rates tenants and incentives had fashion,“ Ms Khamis said. been reflected in the better also remain low on Campbell increased significantly. performances by food-based Parade at 3.7 per cent and at The “As a result, the year ahead may strips such as Campbell Corso in Manly at 3.8 per cent. “The Double Bay precinct be challenging for Sydney’s Parade and Darling Street,” has been most affected, with prime shopping strips.” Ms Lowder said. indicative gross face rents having fallen by 10 per cent during the However, some precincts are CBRE’s data shows that the December quarter and incentives fashion mecca of Oxford Sales turnover feeling more pain than others, having increased from three- according to CBRE Senior Street in Paddington has the for cafes and months rent free to 12-months Manager, Retail Services, highest vacancy rate of 7.8 rent free on a typical five-year Megan Lowder. per cent, closely followed by restaurants . . . has lease deal,” Ms Lowder said. Double Bay at 7.5 per cent. been increasing While fashion-based precincts despite subdued Nevertheless, properties along had been particularly hard hit, Military Road in Mosman has Ms Lowder said food-based also been under strain with consumer Sydney’s prime strips remain strips had been relatively resilient. the vacancy rate having risen confidence. tightly held and Ms Lowder to 5.3 per cent. said investors were prepared “Sales turnover for cafes and to pay tight yields for available restaurants, which account On the flipside, the café property, as evidenced by the for around 18 per cent of focused Darling Street On the rental front, Ms Lowder recent $17 million sale of four tenants on Sydney’s shopping shopping strip in Balmain has said owners were being forced shops on Campbell Parade strips, has been increasing the lowest vacancy rate of the to accept shorter terms of on a yield of six per cent.

Real Estate Journal April 2012 9 NEWS

Infrastructure investment PRDnationwide research analyst Oded Reuveni-Etzioni rates NSW regions that are in the economic fast lane.

Infrastructure spending is good news for the property market with increased government spending luring investors and homeowners alike.

With the uncertainty surrounding the State Government’s ability to fund future projects, areas that are currently receiving good infrastructure investment are the ones to watch.

PRDnationwide Research has examined five areas across NSW where government projects are being rolled out and ranked the areas by population growth, infrastructure investment and the property market.

The investigation found the larger the distance from the capital city, the smaller the size of private investment. SUMMARY OF LOCAL GOVERNMENT AREAS (LGAS) LOCAL DISTANCE MEDIAN 5 YEAR MEDIAN 5 YEAR City of Canada Bay GOVERNMENT AREA FROM SYDNEY HOUSE PRICE GROWTH p.a. UNIT PRICE GROWTH p.a. A $10 million new hospital CANADA BAY 10km $1,066,500 6.1% $589,000 3.3% is a major drawcard for this area, creating jobs for CESSNOCK 116km $260,000 3.4% $245,000 -1.9% locals. Private development has geared up in the area 1035
45&1)&/4 130km $375,000 1.4% $300,000 -3.3% with hundreds of new apartments being delivered MAITLAND 127km $345,000 4.0% $280,570 3.0% to the market. This is complemented by a raft RYDE 12km $865,000 5.9% $490,000 5.5% of new retail and office ALBURY 462km $270,000 0.9% $190,000 1.7% buildings under construction. BLUE MTS 85km $382,500 1.6% $272,500 -2.4% The latest population figures reveal the City of Canada Bay experienced the strongest being created it is expected construction in the region is the 12-month population growth The lower Hunter in NSW. One of the best Valley region that the long term population $1.7 billion Hunter Expressway, performers over the past The Lower Hunter region is growth across all three LGAs due for completion in 2012. five years is the suburb of home to some of the largest will intensify over the next Concord West – recording investment projects under few years, contributing to the Ryde City Council a 7.1 per cent growth in construction outside of Sydney. growth of towns such as Kurri Three major projects under median unit price in the 12 With the scale of infrastructure Kurri. The largest government construction include the months to September 2011. and job opportunities that are project currently under $140 million Australian

10 Real Estate Journal April 2012 Hearing Hub within Macquarie building and parking facility University, the development in the centre of town with of 502 apartments in nearby surrounding shops will Ryde and a retail complex be completed in October. The latest population figures reveal in West Ryde. The LGA has run out of vacant residential This infrastructure boost is the City of Canada Bay experienced land, leading to innovative likely to position Albury as the the strongest 12-month population redevelopment options. region’s premier shopping and entertainment destination, growth in NSW. It is expected that improved and attract more people rail services and increased and businesses to the town. employment opportunities The median house price has in the area will translate to enormous potential for growth area by cutting travel time to With economic uncertainty stronger population growth – having only increased Sydney and central west NSW. weighing on the minds of in the short and medium term. 0.9 per cent per annum over The $32 million Blue Mountains property investors, the age- the past five years. Cultural Centre and mixed-use old investment formula of Albury City Council development is expected to be population growth, employment The largest government Katoomba completed in June and will be opportunities and infrastructure funded project in the area (City of Blue Mountains) another drawcard. The supply investment has never been truer. is the $250 million Holbrook A major boost for Katoomba is of new housing stock in the Bypass which will reduce the $250 million upgrade of the region remains constrained PRDnationwide predicts travel time on the Hume Great Western Highway – this is and will mean demand will be these five areas will be Highway. A $42 million expected to improve the flow of high as long as population and high on the lists of investors Australian Tax Office tourists and city dwellers to the tourist numbers are firm. and homeowners. NEWS

Pets boost strata communities Research shows pets can promote more than just good health for their owners; they can benefit Owners Corporations and agents too.

As more individuals and families benefits to living in a pet- fitted in well with others in “Clearly, balance needs to be choose to make their homes in friendly strata community. the community, and regularly achieved whereby individual strata title properties, the need helped one another with needs are accommodated and to accommodate pets living in Researcher Emma Power said advice on training and residents who choose not to higher-density environments is pets could help build a sense caring for pets.” own a pet are unaffected by becoming more common. of community among residents. those that do own pets. Susie Willis from the Petcare In recognition of this trend, the “Our research showed that Information and Advisory “At the same time, pet owners Petcare Information Advisory dogs help their owners to Service said the forms were who care for their pets in a Service have developed a Pet get to know others within the developed specifically to responsible and considerate Application Form and a Pet apartment building and local recognise the rights of all manner should not be deprived Keeping Agreement. neighbourhood and can be strata residents. of the enjoyment their pet valuable in creating a strong brings to their lives.” It’s not just pet owners that apartment community,” “The benefits that pet owners can benefit from having furry Dr Power said. derive from their pets should Ms Willis said, if handled friends around; latest research not be at the expense of correctly, pet ownership from the University of Western “Pet owners were keen non-pet owning residents,” could help increase the sense Sydney shows there are many to ensure that their pets Ms Willis said. of community for all strata

12 Real Estate Journal April 2012 Pet-friendly strata properties attract more people and have lower turnover rates and higher profitability.

residents and the flow-on effect and higher profitability. also provides an opportunity to The Pet Keeping Agreement is could be beneficial for agents Communities that work present the Owners Corporation between the pet owner and the and strata managers. together, talk regularly and with relevant and specific building’s Owners Corporation. create more opportunities information about an individual It enables the Owners “Communities where people to socialise are much pet including training, overall Corporation to clearly detail walk their dogs have a lower healthier communities.” health and references. their expectations of how pets incidence of violent crime will be kept and managed once and a higher perception of The forms provide a clear “This not only makes it easier they are approved. neighbourhood friendliness,” application process and for potential pet owners to Ms Willis said. also allow pet owners and apply to keep their pet on Both forms can be downloaded Owners Corporations to the property, but also for the from www.petnet.com.au “Pet-friendly strata properties understand and agree on the Owners Corporation to have and adapted to suit the attract more people and conditions for owning a pet all the information they need to specific requirements of have lower turnover rates in a strata property. The form make a decision,” Ms Willis said. a strata property.

2012 – Expand your thinking, change the hole to fit the peg! “In 2003 I began my career as a real estate business strategist. Back then, we planned our team structure then chose the lucky new recruit from a large pool. Fast forward 10 years and after coaching, training and consulting 1000’s of agents here and abroad, and a degree in Human Resource Development, I’ve learned that to thrive we need flexibility and constant development of our recruitment and retention processes. It’s no longer about finding a “recruiter”, you need a “people” partner, a team of people who understand the industry, the candidates and business strategy. At RECD we call these “People Consultants”. Fiona Blayney and the RECD People Consultants, work with their clients to redesign each position as a talent gap arises. By taking an intelligent approach when diving into the talent pool, we find the “perfect fit” for both the candidate and the client. To find your perfect fit, talk to the People Consultants at RECD. P: 02 8667 7979 F: 02 9904 4492 www.recd.com.au NEWS

Australian first green innovation A Sydney office has been awarded a Six Star Green Star rating.

The Green Building Council to respond to comprehensive Mark Menhinnitt, Chief sustainable outcomes including of Australia (GBCA) has and rigorous Green Star credit Executive Officer for Lend rainwater harvesting and onsite awarded Darling Quarter’s assessment criteria. Lease’s Australian business said water recycling initiatives, and Commonwealth Bank Place the rating showed the continuing carbon emission reduction a Six Star Green Star, making aim to push the boundaries of through energy efficient design it the first ever building sustainable development. including chilled beam and to achieve this significant single pass fresh air systems. industry milestone. Leading edge “Achieving this rating brings us Importantly, the building and one step closer in the journey its systems also provide a A Six Star Green Star Office innovation in green towards sustainable precincts healthy and highly productive – As Built Version three rating technologies and and eventually sustainable workspace for its tenants. is considered to be the most cities,” he said. challenging rating to achieve. design has helped A joint effort between Lend us to deliver “Leading edge innovation in Lease and the Sydney Harbour Until now, no development projects that we green technologies and design Foreshore Authority, the Darling has reached this level has helped us to deliver projects Quarter precinct is a showcase of achievement. never thought that we never thought possible.” for social, environmental and possible. economic sustainability and The process to obtain this Commonwealth Bank Place sets global benchmarks in rating required Lend Lease delivered a number of environmental innovation. IN BUSINESS

Seal the right deal BY TINA LIPTAI Are you bringing your best to the negotiating table?

Never assume Though you might have been careful to research and gain an understanding of what the other party is looking for in a deal, it’s important to keep Good listening to their needs and never assume you have all negotiators the answers. are naturally “After you have done that curious, preparation, it is crucial to test flexible and your assumptions before trying are interested to close the deal,” he said. in the other “It is an unfortunate part of party’s the human condition that we think we have solved all the motives. other party’s problems from our perspective but we often haven’t really understood their perspective at all.”

Scotwork Australia specialise in improving negotiation skills. The ability to negotiate Plan of attack this and you need to have Simon Kelland has a background effectively is more than just It’s no secret better negotiation multiple variables to negotiate.” as a senior executive in small a desirable skill for real estate skills lead to better deals, but and large organisations in the agents dealing with corporate understanding the type of deal Preparation and financial services sector. clients; it is a necessity that you are negotiating makes a understanding For more information visit can generate millions of dollars big difference. “Where the element of skill really www.scotwork.com.au in deals every year. comes in is you must think very Positional bargaining is done in carefully about what the other While some agents seem to be a competitive environment and party is trying to achieve. If you GOOD ‘born’ negotiators, driving deals usually only for one-off deals. can identify that, you can create that are better structured and a fair bit of mutual gain in the NEGOTIATION more efficient is a skill anyone deal,” Simon said. The other type of negotiating t
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Real Estate Journal April 2012 15 IN BUSINESS

BY FIONA BLAYNEY, DIRECTOR AT REAL ESTATE CAREER DEVELOPERS Recruit, retain and retrain Make sure you find, keep and train the best employees for your business.

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16 Real Estate Journal April 2012 who ‘perfectly’ fits this outline. Where possible, hire for attitude the deep end, then put them spending time with personal The challenge for employers is and then train the skill. If you there on day one. If you want development speaker that in any role the specifications find someone who has both a new starter to thrive in your Richard Flint. One of the can change regularly. So, when you’ve hit the jackpot. Hire fast. business, you must ensure key messages from Richard you are recruiting you need to you have established a plan was we must be constantly decide what is more important: for them to ‘ease’ their way in. recruiting our team. Do you need someone with the A plan of this nature must include exact skill set? Or would it be education for the new starter Employment is not dissimilar more valuable to find someone Don’t be fooled including, brand, business to other relationships. You who has adaptability, a thirst for strategy, structure, policies can’t find a partner, have one learning and the right attitude? into thinking and systems and accountability. dinner, move in together and that a highly Even those with the highest expect to live happily ever Traditionally, the ‘gap’ model skilled person skill require full induction. after without any further effort requires a new starter to be on either part. (If you manage skilled and ready to move automatically Personalised training plan to, let me know.) into the new role. has the right Like the Beta player and black and white television repairers Each day you must work at However, with the real estate attitude for required re-skilling, your team the relationship, get to know industry on the whole sitting at your business. requires constant training and one another, adjusting your a lower unemployment rate than development. A personalised expectations and setting that of the publicised average, training plan allows the boundaries. You continuously employers need to ensure individual to take control communicate, provide quality recruitment and retention Create an induction plan of their own learning. support and demonstrate processes are in place. We have all worked in an your appreciation. This is environment where a team Discuss with the new starter essential for a great working Attitude is everything member has left and a gap where they rate in terms of relationship too. When hiring, don’t be fooled exists in the business that needs competency against necessary into thinking that a highly urgent replacement. skills for the role and create a Fiona Blayney is also the skilled person automatically plan for improvement either into Managing Director of has the right attitude for your Day one of the new recruit the next role or develop skills consultancy, coaching and business. Skilled people do not starting is then often referred outside of their scope. training business Blayney automatically make a business to as a ‘baptism by fire’ or Potential Plus, specialising great. To be successful you being ‘thrown in the deep end’. Re-recruiting in your team in estate agency services in need an even mix of skill, If you want people to continue During my trip to the US last Australia, New Zealand, knowledge and attitude. to live in the fire or drown in year, I had the fortune of the UK and the US.

IMPORTANT ASPECTS TO INCLUDE IN YOUR RECRUITMENT AND RETENTION STRATEGY RECRUITMENT RETENTION #F
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Real Estate Journal April 2012 17 IN BUSINESS

BY GREG PATERSON, EXECUTIVE DIRECTOR OF THE REAL ESTATE EMPLOYERS’ FEDERATION (NSW) Ignorance is no defence There are a number of items for agencies to consider when undertaking a self-assessment of their employment regime.

undertaking a quick self-assessment of your agency in terms of employment compliance.

The new employee r
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18 Real Estate Journal April 2012 r
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others with whom your enquiries can be made to 10 National Employment agency does business)? (02) 9261 2666. Record keeping and pay Standards (NES) which r
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Career shift BY ALI KLAVER Thinking of a sideways step in your career? Feel the need to up-skill? The keys to success lie in education and keeping one eye on the future.

Moving from one specialised commercial property are similar Having a greater understanding area of real estate to another to residential in that you need of vendor and buyer headspace or broadening your skill set excellent communication skills on the day is invaluable. can seem daunting, but with and the ability to build a good the right approach it can have rapport with people — real estate “I pick up on buyer signals great results. The Real Estate is a people business,” he said. and body language and try to Journal asked three agents who extract that bit more,” he said. have made the most of their The main difference with STEPHEN HASLAM transferable skills and given commercial is the clientele SALES EXECUTIVE, DOYLE “Being an auctioneer helps me to new life to their career. and the daily challenges. SPILLANE REAL ESTATE be a better agent by being more diligent and having all the ‘what “You’re constantly dealing ifs’ covered on auction day.” with superannuation funds, Residential plus corporations and all sorts auctioneering Stephen’s advice to those of different businesses. Stephen Haslam has been looking to add auctioneering as So it’s a very interesting and selling residential real estate a specific skill is to put yourself challenging field,” he said. for 12 years. It was only when out there and have a “crack”. he was asked to do a charity Working in commercial auction for a local primary “Like anything you want to MICHAEL LAING property means you need school that he started to think be successful at, being an DIRECTOR AT RAINE & an understanding of local seriously about auctioneering. auctioneer involves hard work HORNE, BONDI JUNCTION councils and planning laws. and countless hours of practice “Getting up in front of a crowd and training,” he said. Residential to commercial Michael also recommends was a little daunting at first, but I found it good to get out Michael Laing, Director at Raine knowledge of the legal side of my comfort zone and test & Horne in Bondi Junction, has of commercial property so STEPHEN’S myself,” he said. enjoyed a long and varied history you can anticipate any issues TIPS FOR in real estate, starting with that may arise. “After each auction I feel more BECOMING AN residential property management “A network of people you confident, and it’s great seeing in the 80s before moving into AUCTIONEER: can get business through the smiles on the vendors’ commercial property work. and refer business to is faces knowing that you helped t
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20 Real Estate Journal April 2012 In 2011, Heath made on behalf of a client, the transition into retail so I have an unrivalled, HEATH’S TIPS investment services as part of integrated knowledge Colliers’ focus and strategy of base and understanding FOR MAKING A investing from within to build of the asset,” Heath said. CAREER SHIFT: on its retail sales business. “There isn’t any other t
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The mirror above Adrian Bo, Principal the fireplace assists of McGrath Coogee, in creating a more uses a property dramatic effect with stylist as part of his this key feature of the sales campaigns to room and also bounces ensure each property light around the space. is presented to show off its full potential.

Accessories for the shelves on either side of the fireplace were selected and placed to add character and a personal touch to the room. It is always good to leave some blank space on built-in shelves during presentation as this enables buyers to see they have scope to add more and conveys a notion of ample storage in the home. As soon as any storage in the home is jam-packed, buyers subconsciously think that there isn’t enough storage. This is especially relevant for occupied homes.

All the soft furnishings and decorative items used within the room were kept to a relatively monochromatic scheme to give a sophisticated look to the room. Elements such as the coral piece on the coffee table make a soft link to the seaside locale of the property.

The skirt on the sofa lends a slightly classic feel to the styling to correspond with traditional elements in the architecture such as The elm tone of the coffee the fireplace, picture rails table, console table and and ornate cornices. frame of the occasional chairs all co-ordinate to bring some warmth to the room. Two smaller occasional chairs were selected to sit opposite the sofa, on the other side of the fireplace to Once viewed by many as display more seating in the room but also keep the view an extravagance or suitable through to a feature window seat open, as opposed to only for exclusive properties, blocking it with an additional sofa. professional styling has become an essential ingredient in marketing campaigns for selling everything from units to family homes.

The ups and downs of the The floor lamp in property market always the corner of the poses challenges for real room is visible estate agents. But while upon entry to you can’t do much about the property and gives warmth to the economy, the location the space, which or architecture of a building, is very inviting you can ensure the property and homely for is perfectly presented and prospective purchasers. that can make all the difference.

A large Displaying a property’s full feather-filled, potential can be as simple linen slipcover as removing or adding a sofa was few decorative pieces or selected to give a as dramatic as refurnishing comfortable, the entire home. inviting feel to the room. Property styling is most often associated with residential sales but can also be an effective tool for attracting tenants to rental or commercial properties.

Styling for success Adrian Bo, Principal at McGrath Coogee, has used property stylists as part of his sales campaigns for the past decade. During his 18-year residential sales career, Adrian said he had seen a move towards property styling as more vendors and agents recognise its value.

“We are big advocates of getting property styled, especially if the property is vacant,” he explained.

“Acoustically it’s better, finishing it makes the space feel warmer and people can visualise what their life will be like.”

While Adrian uses a stylist mostly for vacant property, some occupied properties touches can benefit from a stylist’s Picture perfect property is all about style. eye for detail. FEATURE

“We have a lot of investment can have less impact if the style of the property because “Anecdotally, good properties for sale that are furniture in the home doesn’t you don’t want a very modern presentation gets more people empty so we have them styled complement the space. look in an old-style home. It’s through the door on open before we take photos for the really important to have pieces inspection days and helps a marketing. Furniture helps A property stylist not only has that suit all aspects of the property sell faster,” she said. buyers get a better sense about access to a range of furniture in individual home.” the feel of a property,” he said. various styles but is also able “Properties we have styled, to create a sense of continuity While many agents these days which have previously been on “We rarely use a stylist for a throughout the home. wouldn’t think twice about the market with no furniture at property when the owners are having professional photos all, have sold for more that was still living there, unless it’s to taken of a property for the previously offered.” just add the finer details.” marketing campaign, Adrian says similar value should also While personal style and Adrian said he always strongly be placed on styling. sentimental pieces are important advised vendors to use a stylist By choosing to make a home feel comfortable and most see the value in taking certain colours, “What we are doing by for those living in it, styling up the opportunity. So important fabrics and presenting the property the best a property for sale requires a is presentation to a sale, Adrian way you can is ensuring you get different skill set to get it right. said he would find it difficult to furniture styles best market value,” he said. work with a vendor who refused you can target “Layout and spacing is to consider engaging a stylist. “You are not making the important,” Kate said. the property property more valuable but you “In the past, I have walked away to a particular are doing everything you can “The way you set up a room to get the best possible price.” from selling a vacant property when it is for sale is different because I couldn’t say hand on audience or to how you would if you were my heart that I’m doing the best demographic. Working together living in the home. It’s really I can for the vendor,” he said. Kate Bonselaar is a senior stylist important to consider the with Advantage Property Styling. layout for good photography “The money a vendor spends on and traffic flow on open day. styling is more than returned in “The stylist comes through Adrian is one of her many clients the price they get for the house.” the property and provides a that she collaborates with to get “We also pay special attention detailed report with a list of the the best out of every sale. to establishing an emotional How it works rooms and an inventory of what connection to the space with While many vendors they are proposing to put in With a background in interior cushions, lamps and art works. understand the value of making each room,” Adrian said. design, Kate has been working improvements, like updating as a stylist for five years and “I find the little touches like the kitchen or adding a fresh “They choose pieces that are everyday sees the difference lamps and mirrors create a coat of paint, these changes sympathetic to the size and great presentation can make. nice ambience and can really

24 Real Estate Journal April 2012 open up a room. Using rugs currently living there,” she said. home that create the biggest BEDROOM (image top left) and cushions give the room “By choosing certain colours, impression are the lounge, • The upholstered headboard, linen and white striped cushions were a soft, welcoming look and fabrics and furniture styles dining and main living areas, selected to link through with the give it a personality. you can target the property though it’s also important the Roman blind in the room. to a particular audience master bedroom presents well. • Darker elements such as the black “It’s all about getting people or demographic.” throw and cushions are added to to fall in love with the space Secondary bedrooms can be introduce contrast in the space and making it memorable.” Kate said agents often find it less of a priority if a vendor has to avoid the room appearing too useful to have a stylist talk to a limited budget, but it can be bland in photography. These finishing touches are vendors about presentation. very useful to have a particularly • Classic-style bedsides were used particularly important if the small bedroom styled as it can to enhance the homely, classic feel of the home along with a soft home is still being lived in by “Sometimes it can be hard for show buyers the potential of the space, Kate added. co-ordinating occasional chair to the vendors and their furniture vendors to detach themselves enhance this feel in the room. is still in the property. from the emotion of the • All bed linen is ironed upon process and it can also be installation to achieve a crisp, “Every time we do a home that difficult for agents to approach A STYLIST CAN: fresh look. someone is living in, we just the subject because they want make a few small changes and to build rapport with their t
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Real Estate Journal April 2012 25 EVENTS

Residential Sales Conference Innovation, strategy and legislation were some of the hot topics addressed by industry leaders who spoke at the annual event, which brought together members from across the state.

Jet Xavier motivated attendees with his presentation.

From the power of auctions Attendees heard from a range of a female perspective with Drawing on their own to tips about how to stay speakers who each entertained D’Leanne Lewis, Principal at experience, each of the on the right side of the law, and informed with their own Laing+Simmons Double Bay, panelists offered insight the annual REINSW perspective on industry trends Kim Jones, Principal at Di into industry challenges Residential Sales Conference and opportunities. Jones Real Estate, and Michelle and answered questions. was a day focused on Placks, Director at Century motivation and professional A panel discussion about 21 Cordeau Marshall, was a Jason Boon, Richardson development for agents. challenges in sales from highlight of the conference. & Wrench’s number one

Conference MC Challenges in sales from Challenges in sales from Challenges in sales from GLENN WHEELER a female perspective a female perspective a female perspective TELEVISION AND MEDIA D’LEANNE LEWIS KIM JONES MICHELLE PLACKS PERSONALITY PRINCIPAL, PRINCIPAL, DI JONES DIRECTOR, CENTURY 21 LAING+SIMMONS REAL ESTATE CORDEAU MARSHALL DOUBLE BAY

A winning relationship The power of auctions Innovations in technology When Fair Trading JASON BOON DAMIEN COOLEY PETER WILLIAMS comes knocking NUMBER ONE AGENT PRINCIPAL, COOLEY CEO, DELOITTE DIGITAL STEVE McGUIRE IN THE RICHARDSON & AUCTIONS SENIOR INVESTIGATOR, WRENCH NETWORK NSW FAIR TRADING

26 Real Estate Journal April 2012 Some attendees share their thoughts about the conference

“I thought it was the best “I think it was very varied “I’ve just started, so the “Having eight speakers meant one I have been to. Every and a good combination strategy and how to put we got a well-rounded idea of speaker brought something of speakers with everything things in place to have a what’s going on in the industry. valuable to the day and I from motivational to more good foundation to build my There was a lot of information really got a lot out of it.” technical topics. I really business, help me grow and from different perspectives, not Kathryn Hall – think there was something become successful were the everything would be applicable Principal of Kathryn Hall for everyone.” to everyone, but every speaker Real Estate most important things I took had something good to add Catherine McGowan – from the conference.” buyers’ agent, House that you can take away and Theresa Day – Search Australia. Principal, Day By Day develop further.” Property Solutions. Nick Smith – residential and commercial sales, Borrelli-Quirk Newcastle.

agent, was both entertaining Peter Williams offered insights take extra care to ensure they and insightful during his into technology innovation and comply with. His insight into KEY MESSAGES presentation about developing how agents can benefit from mandatory disclosure, agent’s successful relationships. making the most of technology authority and the auction process FOR AGENTS in their working day. was supported with case studies. t
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The three-step On time, on budget — The five key mindsets of sales process a guide to renovations million dollar agents GEOFF FARLAND CHRIS GRAY JET XAVIER LAWYER, LANDERER PROPERTY EXPERT LEADING MINDSET & COMPANY AND COMMENTATOR COACH FOR REAL ESTATE With thanks to Display Sponsor, PROFESSIONALS Real Estate Career Developers.

Real Estate Journal April 2012 27 LEGAL

BY MICHAEL TOOMA, PARTNER, AND SAM WITTON, ASSOCIATE, NORTON ROSE AUSTRALIA As safe as houses What the new Work Health and Safety legislation means for you.

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28 Real Estate Journal April 2012 In addition, the class of persons to arise under the legislation a What should I be doing to whom the primary duty person must be exposed to a about the new laws? CASE STUDY: is owed has been amended risk to their health and safety Businesses in the real estate so that the definition of arising from work carried sector need to: .Z
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BY ALEX ILKIN, PRINCIPAL SOLICITOR OF ALEX ILKIN & CO. Ruling on unpaid strata levies In September 2011 the Supreme Court of NSW handed down its decision in Eastmark Holdings Pty Ltd [2011] NSWSC 1084.

The case is informative for Owners Corporations wishing to recover unpaid strata levies from a company lot owner. Instead of issuing a Statement of Claim in the Local Court to recover the unpaid levies, the Owners Corporation may issue a Statutory Demand under the Corporations Act 2011 (Cth). A Statutory Demand (commonly called a ‘winding-up notice’) is a quick way to try and ‘smoke out’ a company lot owner who truly has no or little money to pay a genuine strata levy.

The facts Eastmark Holdings Pty Limited (‘the company’) owned about 43 lots in the strata scheme and owed about $165,000 in outstanding general levies.

On 17 December 2010, the company paid about $100,000 at an Australia Post branch with a request the $100,000 be allocated in specific amounts to each of the 43 lots leaving a balance due of $65,000. That was done because the company wanted to ensure the total levies for certain lots were The company submitted that r
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30 Real Estate Journal April 2012 Lessons from the case a Statement of Claim should Supreme Court proceedings Strata managers and Owners be used after negotiations may have been avoided if Corporations should be aware: or a letter of demand. the Owners Corporation had A Statutory given credit for the $100,000 r
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Commercial CHAPTERS

BY PHILLIP NOBLE, DIRECTOR AT HEIGHT SAFETY ENGINEERS High risk you can’t ignore New legislation means agents need to be more aware of safety at heights.

As we are all aware, the new Clause 78 of the Regulation Work Health and Safety requires that a PCBU at a Legislation commenced on workplace must manage in 1 January 2012. This legislation accordance with Part 3.1, replaced our NSW OHS System risks to health and safety and consists of the Work Health associated with a fall by a and Safety Act 2011, Regulations person from one level to and Codes of Practice. another that is reasonably likely to cause injury to the Under WHS a strata manager person or any other person. or commercial agent will adopt the role of “person conducting a business or undertaking” (PCBU) whenever they engage a worker or subcontractor to Under the new carry out work. A “worker” by definition is a person who WHS definition carries out work in any capacity of a PCBU, it has for a PCBU. This includes, but tightened up is not necessarily limited to, an employee, a contractor or responsibilities, subcontractor, an apprentice which cannot be or trainee and even a volunteer. delegated. One of the “high risk” areas where work is undertaken is on the roof of buildings and Part 4 of this clause requires a structures under the control of PCBU to ensure a safe means strata managers and commercial of access to and exit from the agents. Where work is to be workplace and any area within carried out at any location where the workplace. This includes the potential fall distance is two safe access to the roof and metres or more, WHS classifies other high places. the work as “high risk”. Clause 79 requires the PCBU OHS obligations always existed to provide adequate protection for a person in control of a against falls in all situations safe access system is available If you have any questions place of work to ensure safe where it is not reasonably for works to make a safe access or concerns relating to any access was provided to all practicable to eliminate the prior to directing or engaging any issues on sites where you parts of a place of work, to possibility of a fall. person to work at a height. are engaging workers to which access was required, perform tasks at a height, and from where a person In all situations where access It is also important to ensure contact Height Safety could fall. However, under to roofs is required for the that any provided access Engineers on 1300 884 978 the new WHS definition of a performance of maintenance system is in good condition, to organise an appointment PCBU, it has tightened up to the roof, or any equipment/ maintained and inspected on to discuss your concerns responsibilities, which cannot plant positioned on the roof, a a regular basis, to ensure it or issues in a confidential, be delegated out. strata manager should ensure a remains safe to use. no obligation environment.

Real Estate Journal April 2012 33 CHAPTERS Young Agents

Steps to success Five tips to help you survive the first few months of your career.

It can be a steep learning 2. Meaningful motivation marketplace. You need to use 5. Real estate is a lifestyle curve, but with the right Take the time to sit down the reputation and success of If you treat real estate like attitude and the right advice and work out what motivates your office as a selling point. a nine to five job you will be the first few months working you. Real estate is a hard tearing your hair out within six in real estate can set you up business and if you don’t have Don’t be afraid to tell clients months. Embrace real estate for a great career. Here are a good understanding of your that you are new. Use the as a lifestyle. It is hard work some tips for making the most definition of success then you results of your office, combined and can involve long hours, of your learning curve. are not going to last. But if you with your enthusiasm when but on the flip side you have a know what it is you are trying pitching to potential clients. lot of flexibility in this industry. 1. Think long term to achieve when the work gets Chances are they will respect If you get caught up with hard or the hours are long you your honesty and feel confident You will need to be in the office wanting everything all at once can reflect on exactly why you you must be a great talent to be early and stay late, but if you you will be disappointed. chose real estate to help get hired by a successful agency. combine this with a breakfast you through. meeting and have a dinner Look at real estate as a long term 4. Be eager to learn break with a friend before plan, like university; in the first 3. Don’t be afraid When starting out, you need to heading back to the office, few years you won’t make much of being new learn as much as possible from your work will feel like part of money because it is all about When you are a young agent the successful agents around your lifestyle and not a chore. learning and gaining experience, just starting out you won’t you. This knowledge will pay off but from then on you have the have previous results to and you will earn respect from Compiled with help from the REINSW ability to earn a great income. give you credibility in the your peers by showing humility. Young Agents Chapter Committee. Residential Sales CHAPTERS

Cuts both ways BY TINA LIPTAI Cutting your commission might seem like the path to a quick sale, but it’s going to cost you and the industry in the long run.

they are working for the service and communication owners instead of just looking from the first agents.” out for themselves.” If cutting costs is a priority, Zoran said the growing trend agents should look at ways of of fixed commissions worked better targeting their marketing. in a similar way, demotivating agents to strive for the best Choose the best medium price at sale. to get maximum response from potential buyers, ensure the best value for what is spent but avoid skimping on the campaign. At the end of In a regional area, cutting the day, instead commissions can have a of cutting your quicker and much more detrimental effect on the commission, local real estate industry. giving good Grahame Gould, a Director service is more at Chapman Gould & May important. in Albury, said while he knows some agents are cutting their commissions it’s not a practice he believes is useful “I don’t see any benefit for a in the long term. vendor in hiring an agent that works like that. Those agents “It’s such a small town and are working on pure volume; people talk. If an agent starts putting their volume of sales cutting their commission, ahead of quality,” he added. vendors are going to expect that agent to always keep their Putting quantity of sales before commission low,” he said. quality devalues the expertise “What we really need is a of agents and undermines the commission rate that is fair, In a challenging market the “It happens in every sort of professionalism of the industry, that everyone uses. Zoran said. temptation to get ahead of market, it doesn’t matter if it your competition at almost any is difficult or buoyant. Some “At the end of the day, instead In his experience, many of cutting your commission, cost can be difficult to resist. agents will go to any lengths vendors are willing to pay giving good service is more But rather than undercutting to get a quick sale,” he said. more for an agent who important so people want the opposition, agents should is professional, a good to use you in the future.” be looking to add value for “These agents aren’t worried communicator and committed clients with exceptional service about $10,000 or $20,000 to getting the best price. Grahame said at his agency to gain an edge. on the house price because the internet was a great tool they aren’t losing much in “Already this year I have had for selling and also helped Zoran Veleski, Director of Crown commission, but for the owner properties come to me from keep costs down. Property Group, says agents who not getting that money on the owners who were with other choose to cut their commissions sale it can be a big problem. agents first and were not “But having said that, are not only doing themselves a satisfied,” Zoran said. advertising in the paper disservice but also setting up the “I think agents really need is still important. People public to expect more service to look at how they operate “Every time those owners have love reading the real estate from agents for less. in the sense of making sure said to us they didn’t get good guide,” he added.

Real Estate Journal April 2012 35 CHAPTERS Residential Sales

Emotional rescue BY TINA LIPTAI Whether you are a residential sales or buyers’ agent, how you manage a client’s stress and anxiety can make all the difference to a sale.

“I try to avoid doing anything Honesty Danny says it’s important Vendors that could result in my client While prevention of a stressful to always offer the best taking their stress or emotion situation is always better than professional advice to your Your approach to dealing with out on me. You’ve got to be a cure, being honest with your clients, even if it’s not what a vendor’s anxiety and stress confident and do everything vendor should be a priority. they want to hear. can not only smooth the path right the first time.” to a sale but also make it a “Some agents seem to think it’s “We are professionals and positive experience. Communication beneficial to shield the vendor we have to give clients our Establishing clear rules from what is happening,” professional opinion, even if For many people, buying and and a routine for reliable Danny said. vendors don’t choose to take selling property is one of the communication is also very our advice,” he added. biggest financial transactions important to building a good “I think it is much better to they will make in their life. rapport with your client. tell the vendor how it is very early in the campaign because When the sale is the result of Being sensitive to a vendor’s the longer you go on without ALLEVIATE difficult personal circumstances, individual circumstances correcting any problems, VENDOR like a relationship breakdown or and emotional state is also the worse it is going to be.” ANXIETY financial trouble, then the whole important and may require experience can become you to be flexible to tailor the Control your emotions t
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36 Real Estate Journal April 2012 Buyers’ Agents CHAPTERS

$80,000 over Jacque’s maximum attempt to hold their emotions appraisal prior to auction. in check and consider the facts about every shortlisted “We knew, however, with property,” she said. this particular sale and the circumstances, that our best “It’s also imperative to respect bet was to wait until auction,” that these buyers are often Jacque explained. emotional and it’s our privilege to be looking out for them during what can often be one of the most stressful periods of their lives — buying a home.

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Real Estate Journal April 2012 37 CHAPTERS Property Management

BY JOHN GILMOVICH, DIRECTOR, PROPERTY MANAGEMENT AT RAY WHITE BALMAIN Lure more landlords to your business Attracting more clients to your business doesn’t happen on its own, but with a few simple steps you can plan for great results.

Some Principals say they want to expand their business with a bigger client base, but don’t 1. have a strategy, don’t know Ask for more business how to do it or don’t want to A lot of agents focus on invest the time and resources bringing in new business but to make it happen. miss an important opportunity by forgetting to ask for more Growth in any business is the business from existing clients. oxygen in that business. If it’s not growing it will wither away, Look at your rent roll and it’s just a matter of when. approach your landlords to ask Whether you are with a small if they have other properties, start-up business or large or are looking for other agency, you need to make the properties to purchase, which time to invest in the skills and you can manage for them. 3. 4. processes to foster growth. Relationships with Community workshops It has to be a planned local business About 15-20 per cent of approach, there has to be 2. Set up a referral system with landlords manage their own a budget allocated for it and Sell more properties relevant businesses in your property. A good way to you must follow through if to existing landlords local area. This might include establish a relationship with you want to see results. A lot of sales agents go a bank or home loan lender, these people is to hold a free straight to the open tax accountant, conveyancer information seminar. Get local Whether you have a dedicated market when they first list or buyers’ agents who is in experts, and your agents, to business development officer, an investment property constant contact with people present information about your property manager is and forget the landlords who are buying property in financial services, market expected to do it or you on their existing database. your service area. Establishing updates, insurance and take on a hands-on role as strong, reciprocal relationships legislation. Advertise the event the Principal or business If sales agents and property will boost local businesses and locally and invite your existing manager, here are 10 things managers find ways to work benefit your clients. Caretakers landlords. This is a great way you can do today to start together to offer opportunities of buildings or building managers to get people together to talk actively attracting more to existing clients it can prove are also useful contacts and a property and will help establish a landlords to your business. beneficial for everyone. great source of referrals. relationship with potential clients.

38 Real Estate Journal April 2012 circles, family and friends when looking for new business. People you know and work with are one of the most valuable sources of referrals to potential clients. 9. Magic 50s A magic 50 (properties) letterbox drop is a regularly used technique for sales agents, but it can work just as well for property managers.

Do the letterbox drop two streets behind and before the property to let the neighbourhood know the property has been listed for rent and then again when it has been leased.

Use DL-style drop cards with smart design through your printer shop. 10. Working with sales Working with the sales team can be a really valuable way to boost your rent roll. Use open house 5. 6. 7. inspections as an opportunity to Website presence Use your shopfront Property developers cross promote all the services Eight out of 10 times, a You already know your Use the public development your agency offers, including potential client will use a shopfront is a 24-hour consent notices in your local property management. search engine to find an billboard, but if you want to paper to find out the latest agent. Look at your website grow your rent roll you need development approvals Make sure potential buyers and ask yourself: how to use it to promote property made by local councils and and investors walk out with effective is it? Is there enough management, not just sales. build relationships with the information about your property information on there about developers. You could be on management services. you as an agent, your services Put properties you have for your way to securing new clients and about the properties you lease in a prominent position. before the building is finished. Even if an investor doesn’t buy have for lease? Do you have that particular property they still professional photos? If your Treat property management have your details and may call website is not welcoming, as an important part of your on you for an appraisal or fee easy to use and informative business, not as an ‘additional 8. discussion in view of appointing you are not giving yourself the service’, and you will increase Personal networks you as their property manager, best chance at attracting new your chances of attracting Don’t forget to always touch even if they do happen to business enquiry. new clients. base with people in your social purchase from another agency.

Real Estate Journal April 2012 39 TRAINING

MAY 2012

MON TUE WED THU FRI SAT SUN APR 30 MAY 1 23456

SYDNEY SYDNEY CPD SYDNEY Certificate of Registration Course (full time) – 4 days Maximise your new management Certificate of Registration Course (9.00am-5.00pm) success rate (9.30am-1.30pm) (part time) commences (9.00am-5.00pm)

LISMORE COFFS HARBOUR SYDNEY REINSW/REEF Industry Update REINSW/REEF Industry Update Real Estate Licensing Course commences – 3 days per week for 8 weeks (9.00am-12.00pm) (9.00am-12.00pm) (9.30am–4.30pm)

SYDNEY NEWCASTLE GOSFORD Breakfast Club REINSW/REEF Industry Update REINSW/REEF Industry Update (7.30am–9.30am) (9.00am-12.00pm) (9.00am-12.00pm)

PORT MACQUARIE REINSW/REEF Industry Update (9.00am-12.00pm) 789 10 11 12 13

SYDNEY CPD CANBERRA CPD SYDNEY SYDNEY Auctioneers short course Marketing strategies to fast track growth Real Estate Licensing Course continues – 3 days per week for 8 weeks Certificate of Registration Course (9.30am-1.30pm) and increase sales (9.00am-1.00pm) (9.30am– 4.30pm) (part time) continues (9.00am-5.00pm)

SYDNEY CPD SYDNEY SYDNEY CPD The D-E-F of Compliance Commercial Forum The A-B-C of Compliance (9.30-1.30pm) (3.00pm-5.00pm) (9.30am-1.30pm)

TAMWORTH DUBBO ORANGE REINSW/REEF Industry Update REINSW/REEF Industry Update REINSW/REEF Industry Update (9.00am-12.00pm) (9.00am-12.00pm) (9.00am-12.00pm)

SYDNEY SYDNEY 14 15 16Property 17Strata 18 19 20 Management Management Conference Conference SYDNEY SYDNEY Certificate of Registration Course (full time) – 4 days Certificate of Registration Course (9.00am-5.00pm) (part time) continues (9.00am-5.00pm)

SYDNEY CPD SYDNEY Prepare for selling like never Real Estate Licensing Course continues – 3 days per week for 8 weeks before (9.30am-1.30pm) (9.30am– 4.30pm)

PORT MACQUARIE CPD TAMWORTH CPD ARMIDALE CPD The A-B-C of Compliance The A-B-C of Compliance The A-B-C of Compliance (9.00am-1.00pm) (9.00am-1.00pm) (9.00am-1.00pm)

21 22 23 24 25 26 27

CANBERRA SYDNEY REIACT Certificate of Registration Course (full time) – 5 days Certificate of Registration Course (9.00am-5.00pm) (part time) concludes (9.00am-5.00pm)

SYDNEY CPD SYDNEY SYDNEY The nuts and bolts of the Residential Valuers Forum Real Estate Licensing Course continues – 3 days per week for 8 weeks Tenancies Act (9.30am-1.30pm) (3.00pm-5.00pm) (9.30am – 4.30pm)

GOULBURN WAGGA WAGGA COFFS HARBOUR CPD CANBERRA CPD REINSW/REEF Industry Update REINSW/REEF Industry Update Prepare for selling like never Property management (9.00am-12.00pm) (9.00am-12.00pm) before (9.00am-1.00pm) fundamentals (9.00am-4.00pm)

BATEMANS BAY WOLLONGONG REINSW/REEF Industry Update REINSW/REEF Industry Update (9.00am-12.00pm) (9.00am-12.00pm) 28 29 30 31 JUNE 1 WANT TO SYDNEY Certificate of Registration Course (full time) – 4 days KNOW MORE? (9.00am-5.00pm) You can find out SYDNEY SYDNEY Young Agents Breakfast Real Estate Licensing Course continues – 3 days per week for 8 weeks more about all of our (7.30am-9.30am) (9.30am – 4.30pm) courses by visiting REGIONAL CPD ALBURY CPD www.reinsw.com.au Holiday and short-term rentals Country Forum short course (9.00am-1.00pm) (9.00am-1.00pm) Click on Course Schedule in the Training menu.

40 Real Estate Journal April 2012 JUNE 2012

MON TUE WED THU FRI SAT SUN

CPD workshops – go to www.reinsw.com.au 123 for course descriptions and prices SYDNEY CPD Certificate of Registration Course Prepare for selling like never before (9.30am-1.30pm) (Real Estate) (full and part time as indicated). Price includes REINSW Student Membership Licensing Course Forums and Divisional meetings Industry update

45678910

SYDNEY SYDNEY Certificate of Registration Course (part time) – commences Real Estate Licensing course continues – 3 days per week for 8 weeks (9.00am-5.00pm) (9.30am – 4.30pm)

SYDNEY CPD SYDNEY CPD SYDNEY CPD The A-B-C of Compliance Property management for experienced Buyers’ Agents short course (9.30am – 1.30pm) property managers (9.30am – 1.30pm) (9.30am – 1.30pm)

11 12 13 14 15 16 17

QUEEN’S BIRTHDAY SYDNEY PUBLIC HOLIDAY Certificate of Registration Course (full time) – 4 days (9.00am-5.00pm)

SYDNEY Real Estate Licensing course continues – 3 days per week for 8 weeks (9.30am – 4.30pm)

SYDNEY Certificate of Registration Course (part time) – concludes (9.00am-5.00pm)

REGIONAL CPD Strata management short course (9.00am – 1.00pm)

18 19 20 21 22 23 24

SYDNEY CPD SYDNEY CPD SYDNEY Work, Health and Safety for property Sales short course Real Estate Licensing course concludes – 3 days per week for 8 weeks managers (9.30am – 1.30pm) (9.30am – 1.30pm) (9.30am – 4.30pm)

SYDNEY CPD TWEED HEADS CPD BYRON BAY CPD LISMORE CPD CANBERRA CPD The D-E-F of Compliance The A-B-C of Compliance The A-B-C of Compliance The A-B-C of Compliance Effective Tribunal preparation (9.30-1.30) (9.00am – 1.00pm) (9.00am – 1.00pm) (9.00am – 1.00pm) (9.00am-1.00pm)

25 26 27 28 29 30 JUL 1

SYDNEY SYDNEY CPD Certificate of Registration Course (full time) – 4 days Communication and dealing with (9.00am-5.00pm) challenging situations (9.00am – 4.00pm)

SYDNEY CPD SYDNEY Commercial short course Auctioneers Accreditation – 3 days (9.30am – 1.30pm) (9.30am – 4.30pm)

CANBERRA CPD Business relationships with clients for life (9.00am-4.00pm)

Real Estate Journal April 2012 41 MEMBERSHIP

MEMBER PROFILE: ANNABEL WESTHOFF

Relocation from Sydney to the Tweed Coast inspired Annabel Westhoff to make her dream career a reality.

Fulfilling a passion for real estate understood the difficulty and time combined with her love of the Tweed constraints involved in searching Coast, Annabel created Lifestyle Buyers’ for a property from afar. Agency to help others realise their home ownership dream. After successfully gaining her licence through REINSW, Annabel said it made “Real estate is a new role for me, but sense to become a member. it’s a passion I have had for a long time, so when we moved out of Sydney and I “I think the support, forms, training recognised the need for a buyers’ agent and advice REINSW offers to members who specialised in relocations, I took up is so valuable,” she said. “The support, forms, training the opportunity,” she said. To find out more about REINSW and advice REINSW offers to After making the move from Sydney membership, call (02) 9264 2343 members is so valuable.” to Kingscliff herself, Annabel said she or visit www.reinsw.com.au

NEW MEMBERS

FULL FIRM Network Australian Real Estate Kings Langley Ms Janine Harris Harbourline Real Estate Pty Ltd KINGS LANGLEY MAITLAND GREENWICH Speak Realty Lifestyle Buyers’ Agency Loyal Property City PARRAMATTA KINGSCLIFF SYDNEY Best Choice Investment Pty Ltd BRANCH FIRM Harcourts New South Wales Pty Ltd HURSTVILLE McGrath Frenchs Forest ALEXANDRIA MANLY Coleman Estate Agents & Valuers Zen Real Estate NORAVILLE EDGECLIFF PRACTICE MEMBER Matt Reynolds Charles Powell Auction Services Julia Picton WOY WOY ROSEVILLE MANNERING PARK Domain Residential LJ Hooker Wyong David Tran MONA VALE WYONG LIDCOMBE Jupiter Realty Resisales Lake Cathie Bonny Hills Sue Jogever ERMINGTON LAKE CATHIE PORT MACQUARIE MEMBERSHIP

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Real Estate Journal April 2012 43 RESEARCH

Check out the latest rate for your area. You can use it in your newsletters, information packs and discussions with potential investors.

Residential vacancy rate — compiled by Insightrix on behalf of REINSW SYDNEY Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11 Apr-11 Mar-11 Feb-11 Inner 1.5 1.7 1.5 1.2 1.3 1.5 1.5 1.5 1.4 1.1 0.9 1.1 1.2 .JEEMF 2.0 2.1 2.0 1.7 1.6 1.4 1.6 1.5 1.3 1.5 1.4 1.1 1.2 0VUFS 1.9 1.8 1.4 1.3 1.4 1.3 1.3 1.6 1.7 1.5 1.4 1.2 1.1 Total 1.8 1.9 1.6 1.4 1.4 1.4 1.5 1.5 1.5 1.4 1.2 1.1 1.1 HUNTER Newcastle 1.3 1.5 1.1 1.6 1.9 1.3 1.8 1.4 1.3 1.5 1.5 1.3 1.4 0UIFS 1.5 1.5 1.2 1.4 1.5 1.8 1.8 1.6 1.3 1.2 1.5 1.3 1.1 Total 1.4 1.5 1.1 1.4 1.7 1.6 1.8 1.5 1.3 1.3 1.5 1.3 1.2 ILLAWARRA Wollongong 2.4 2.3 2.1 2.2 1.8 1.6 1.6 1.3 0.9 1.3 1.3 1.0 1.3 0UIFS 2.5 2.0 1.4 1.6 1.4 1.3 1.5 1.3 1.4 1.3 1.2 1.5 1.4 Total 2.5 2.1 1.6 1.8 1.7 1.4 1.6 1.3 1.2 1.3 1.3 1.3 1.4 REGIONAL Albury 1.6 2.0 1.7 1.4 1.9 1.7 1.9 2.0 2.4 2.6 2.4 2.5 2.5 Central Coast 1.6 1.4 1.6 1.5 1.7 1.9 2.1 2.0 2.6 2.1 1.6 1.6 1.5 Central West 1.5 1.8 1.9 1.3 1.7 1.4 1.3 1.7 1.6 2.0 2.3 2.0 2.1 Coffs Harbour 4.1 4.0 3.6 4.2 4.1 3.8 3.7 3.5 3.4 3.1 2.8 2.1 2.3 .JE/PSUI
$PBTU 2.2 2.2 1.9 1.6 1.8 1.9 1.8 2.1 2.0 1.8 1.5 1.7 2.1 .VSSVNCJEHFF 1.3 3.2 2.8 2.9 2.5 2.2 2.4 3.0 2.6 2.7 2.7 2.2 2.2 New England 2.8 2.9 2.9 2.4 2.4 2.4 2.6 2.5 2.5 2.4 2.3 2.0 1.6 Northern Rivers 3.9 3.2 2.7 2.8 3.0 3.0 2.6 3.9 3.8 3.1 2.5 1.6 1.5 0SBOB 1.6 1.2 1.5 1.5 1.5 1.2 1.4 1.6 1.7 1.9 1.4 1.6 1.9 Riverina 3.9 3.9 3.5 4.2 3.7 3.4 3.1 3.1 3.0 3.4 3.0 2.8 3.1 South Coast 2.6 2.7 1.9 2.1 2.2 2.9 3.1 2.6 2.6 1.7 1.9 2.1 1.7 South Eastern 2.1 2.5 2.2 1.6 1.5 1.7 1.9 1.8 1.5 1.5 1.3 1.5 1.6

NSW weekly auction clearance rates — provided by propertyDATA.com.au Week Total Total value Clearance Sold prior Sold at Sold after Passed ending auctions $M rate to auction auction auction in total 04/03 520 $202.80 59% 89 201 16 214 26/02 590 $222.39 62% 105 246 14 225 19/02 459 $151.10 56% 68 179 9 203 12/02 301 $86.02 49% 47 86 15 153 05/02 187 $54.01 50% 20 62 11 94 29/01 377 $110.31 59% 35 105 84 153 18/12 681 $203.14 56% 72 278 28 303 11/12 799 $248.02 51% 110 284 12 393 04/12 657 $234.29 55% 104 243 13 297 27/11 779 $280.80 56% 122 299 16 342 20/11 632 $231.00 58% 102 243 21 266 13/11 686 $285.75 59% 122 265 15 284

Unless otherwise specified, the data has been provided by propertyDATA.com.au, one of the leading property data portals in Australia. propertyDATA.com.au combines data collected from agents with State Government records and data from realestateVIEW.com.au

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Real Estate Journal April 2012 45 LAST WORD

Contact us

Reception: (02) 9264 2343 Email: [email protected] Website: www.reinsw.com.au

Board President: Christian Payne Deputy President:
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.PSDPNCF to invite friends, co-workers, charity donation. This is about clients and family to give. enabling individuals to engage Journal their personal connections to Managing Editor: Roslyn Atkinson Editor: Tina Liptai Every cent of each donation give more to the charities they (02) 9556 9115 went directly to the charity are passionate about, and Email: [email protected] selected by participants. watch as the power of Designer: Nina Christian one donation multiplies.” Sales Manager
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EXECUTIVE OF COLLIERS friends and asked those (02) 9556 9100 INTERNATIONAL friends to each tell five more. www.mahlabmedia.com.au Feature and cover photography Everyone Gives is a charity This is about “I think of it as a giving tree,” by Studio Commercial campaign that allows John said. enabling REINSW Managing Editor: participants to support Cathie Dickinson (02) 9264 2343 causes they care about individuals i0OF
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Email: [email protected] and multiply their donation five becomes 25 and 25 can to engage become hundreds. And you Disclaimer through the power of personal can track your giving tree and Whilst the Real Estate Institute of New social networks. their personal your friends’ giving trees on South Wales uses its best endeavours in preparing and ensuring the accuracy of connections to the Everyone Gives website.” The eight-day global campaign the content of this publication, it makes give more to the no representation or warranty with respect kicked off on 22 February For more information visit to the accuracy, applicability, fitness, legal and involved more than 60 charities they correctness or completeness of any of the www.everyonegives.org countries around the world. are passionate contents of this publication. The information contained in this publication Hundreds of charitable about. is strictly for educational purposes only and organisations joined should not be considered to be legal advice. Everyone Gives before the Readers must obtain their own independent legal advice in relation to the application of launch, including United The idea grew through any of the material published in this journal Way, the Property Industry collaboration with other to their individual circumstances. Foundation, Youngcare, YOUR STORY like-minded Australian and The Institute disclaims any liability to any party We want to hear your stories! Juvenile Diabetes Research overseas organisations seeking for loss or any damages howsoever arising 'PVOEBUJPO
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46 Real Estate Journal April 2012