April 25, 2012

Real Estate Training - Social Media Policies


Social Media Policies  - Best practice advice




Social Media policies are strongly recommended to be in place for all Real Estate offices.  Social media is fast becoming an area of possible risk and litigation. There have been a number of cases in Australia and overseas where employees have faced disciplinary action or loss of employment due to the misuse of social media.

Staff who have a private Facebook (or other social media) account should be provided a written policy and guidelines as to company expectations and what may be considered misuse.  Real Estate Excellence has an example social media policy that should be implemented and provided to all staff as part of any agency risk management and education procedure which is available to all Members.

If a business social media account has been set up for your agency, it is recommended that strict procedures are adhered to such as the quality and professionalism of the content posted plus a risk management system of how posts from consumers are to be managed. For example, is the account regularly reviewed (daily) to ensure that any inappropriate or unprofessional postings are either removed immediately or dealt with appropriately? How is your agency going to respond to negative comments or complaints from the public?

Agents are encouraged to consider social media accounts for their business in order to progress forward with technology and consumer demand on ways on how to communicate with your office and as a marketing strategy. In saying that it is recommended that agents do not move forward in this area until relevant training and polices are in place and if required professional advice sought on how to manage the accounts.
www.realestateexcellence.com.au

Real Estate Training - Seller Disclosure


Seller Disclosure in Queensland - a Best Practice Article


 Salespeople are the conduits of information when it comes to listing and selling property. Simply this means that the role of a saleperson is to pass relevant information obtained from the seller onto the buyer.

The conduit role begins with title searches being carried out and should be conducted at time of listing property for sale (and rent). The PAMD Real Estate Agency Practice Code of Conduct sections 22 and 23 set out the legislative obligations of agents (see below).

Title searches not only identify the legal owners of the property authorised to sell, but also to identify any encumbrances or other material facts that should be passed on to prospective buyers at time of marketing and prior to contract. If pertinent matters are not passed on to the buyer, allegations of error and or misrepresentation can be made against the agency. It is recommended that title search at cost be a pro forma on all listing appointments and that the client pays for the service.
A further critical procedure is to ensure upon listing the property for sale (and anytime after listing as required), to seek written disclosure from the seller in relation to material facts relating to the property. For example, Real Estate Excellence has a best practice disclosure statement that is recommended to be given to sellers at time of listing (available to Members). This best practice disclosure document is recommended to be completed and signed by the seller at time of listing and added as an attachment or placed in the sales listing file.

The information would be reconfirmed at time of contract such as asking if there are any matters relating to trees or fencing that the buyer should be made aware of.
22 Finding out or verifying ownership and property description

Before listing property for sale, lease or exchange, a real estate agent must take reasonable steps to find out or verify the property’s ownership and property description.

23 Finding out or verifying material facts

(1) A real estate agent appointed to sell, purchase, exchange or lease property must take reasonable steps to find out or verify the facts material to the sale, purchase, exchange or lease that a prudent real estate agent would have found out or verified toavoid error, omission, exaggeration or misrepresentation.

(2) The steps must be taken before the agent lists the property and afterwards as the occasion arises.
www.realestateexcellence.com.au

Real Estate Training - Rent arrears and procedures


Rent Arrears and Rent Arrears Procedure - Queensland

 A daily procedure carried out by all professional property managers is rental arrears. The everyday procedure includes communicating with tenants less than 8 days in arrears, issuing Form 11 Notice to Remedy Breaches to tenants who are over 8 days and seeking instructions from lessors in regards to tenants approaching the Notice to leave stage of arrears.

There is no doubt that communication is one of the most critical procedures when it comes to managing rent arrears. Education of the tenant from day one is also very important. Another critical factor is consistency; doing what we say we are going to do time and time again and never faulting from that position.
Tenants should be provided a rent arrears procedure at the beginning of every tenancy. Tenants should be requested to sign the best practice document to acknowledge understanding of the agency rent arrears procedure. For tenants who are 4 to 5 days behind, a SMS/Text is suitable on some occasions as a means of communicating, however in saying that Property Managers should not keep repeating the SMS to the tenant if the arrears become a regular occurrence. Phone calls are recommended in situations where the arrears are repeated to discuss the matter with the tenant. Ensure that files notes are maintained of all conversations and agreements with tenants in relation to their rental payments.

When discussing rental payments and arrears with tenants, ensure that commitment is provided from the tenant as to when payment will be made. Make a diary note of when they said they will pay and follow up the payment commitment by checking the tenancy ledger on the day they stated payment would be made. If the payment has not been made, phone the tenant to question why the payment has not been made as promised. If payment has been paid, send a SMS saying thank you for payment, or better still a courtesy phone call to say thank you. This procedure demonstrates to tenants that they are being monitored and also is great customer service.

It must be remembered that notices should be served in accordance with the legislation. Regardless of whether tenants say they are going to pay ‘the next day’, if a breach notice can be served, it should be. This is mainly due to risk management but also landlord protection insurance. Insurers may not pay a claim if it found that notices were not served accordingly. It is these situations that an agency can be held liable to pay for a lessor’s financial loss. If a lessor does not wish for a tenant to be served a Form 12 Notice to leave for rent arrears, ensure that their instruction is confirmed in writing. Such as

“As per your instruction, the notice to leave for rent arrears is not being served to your tenant at this stage. Please note that we strongly advise against this instruction due to risk management and possible unfavorable consequence if a landlord insurance claim is made in the future.”

Note: Lessors are required to be immediately notified in writing when a tenant is in breach of the contract/agreement. (As per the Property Agents and Motor Dealers Real Estate Agency Practice Code of Conduct) Best Practice is to email (or post) the lessor a copy of the breach notice with a supporting cover note explaining the notice and that they will be kept informed of developments relating to the breach.





Anzac Day Laws for Queensland Real Estate Agents - Lest we Forget


Anzac Day – Trading Hours

 The trading hours of shops in Queensland are regulated by way of the Trading (Allowable Hours) Act 1990, supported by the Trading (Allowable Hours) Regulation 2004 and various trading hours’ orders made by the Queensland Industrial Relations Commission.



Section 34 below sets out that the business of selling Real Estate cannot occur on Anzac Day however rental transactions can occur.



34 Real estate sales prohibited



A person must not conduct the business of selling real estate on Anzac Day.

Maximum penalty—40 penalty units.



sell includes—

(a) offer or attempt to sell; or

(b) supply or receive for sale; or

(c) have in possession for sale; or

(d) exhibit or expose for sale; or

(e) send, forward or deliver for or on sale; or

(f) cause or permit to be sold, offered for sale, exhibited or exposed for sale or sent, forwarded or delivered for or on sale; or

(g) have in possession, exhibit or expose for any purpose of advertisement, trade or gain.



www.realestateexcellence.com.au

April 15, 2012

What does our agency receive for $11 per week including GST? Queensland only

Real Estate Excellence offers six membership options for the Real Estate Industry (Qld) depending on agency needs, wants and budgets. The most an agency will pay for the Premium package and services is $44 including GST (Platinum Elite Membership).

For only $11 per week your agency could be receiving twice monthly member updates via email which focus on best practice, risk management and compliance for Residential Sales, Licensee, Administration and Property Managment plus over 150 forms and documents online including relevant QCAT Published decisions and appeals and discounted training - $90 per person including GST (Real Estate Excellence Training held thoughout Queensland. The Member Updates also ensure that your agency is up to date with current real estate issues and legislation.

For more information please visit http://www.realestateexcellence.com.au/membership-of-real-estate-excellence/cat_view/81-membership or email stacey.holt@realestateexcellence.com.au

Complimentary examples of the Member Updates can be provided upon written request.

All services are guaranteed.

April 5, 2012

Keeping in touch pays dividends

I have been reminded today about the importance of keeping relationships and keeping in touch. Around three years ago I met a mortgage broker from Commonwealth Bank regarding loans etc. As I had not long started my own business at that stage, I decided against future short term investment and must admit fear kept me at bay for too long. Daren (the broker) has kept in touch with me since then, a phone call, an email just to say hello. No pressure, just checking to see how I am.

Now that I am finally ready to take another leap in investing, who is the first and only person I called?
Yes, you guessed it!

April 3, 2012

April Real Estate Excellence Member Update 2012

The following infrmation is about to emailed to Members of Real Estate Excellence
www.realestateexcellence.com.au

Topic
Page Number
Member Update
·        LNP Government
·        Body Corporate Free Training Seminars
·        Anzac Day Trading Hours

3
3
4
Licensee/Administration Best Practice
·        The importance of having harassment, discrimination and bullying procedures in place

5 to 8
Residential Sales Best Practice
·        Disclosure to Buyer – PAMD Form 27c (currently)

9 to 10
Residential Property Management Best Practice
·        QCAT Form 8 – Counter application and Shared Pools (Form 36)

11 to 12

Real Estate Training - Business Health Check Gold Coast 24th May 2012

This interactive and practical best practice session will focus on key areas in agencies relating to compliance, best practice and risk management. Designed specifically for managers, administrators and licensees the session will focus on key areas of business including


· PAMD Act requirement relating to office signage, complaints, employment register and more

· Important areas of PAMD Act that all should be aware of

· PAMD Real Estate Agency Practice Code of Conduct

· Contracts for Residential Sales – Best practice tips and presentation to buyers

· PAMD Key requirements that all salespeople should know

· RTRA Key requirements that all property managers should know

· PAMD Form 22a and 20a – best practice completion

· Representative from PSAQ to speak about employment agreements and registration of agreements requirements

· General agency risk management including marketing requirements and more!

For more information, please visit www.realestateexcellence.com.au or email staceyholt@me.com

Real Estate Training - Business Health Check Sunshine Coast 23rd May 2012

This interactive and practical best practice session will focus on key areas in agencies relating to compliance, best practice and risk management. Designed specifically for managers, administrators and licensees the session will focus on key areas of business including


· PAMD Act requirement relating to office signage, complaints, employment register and more

· Important areas of PAMD Act that all should be aware of

· PAMD Real Estate Agency Practice Code of Conduct

· Contracts for Residential Sales – Best practice tips and presentation to buyers

· PAMD Key requirements that all salespeople should know

· RTRA Key requirements that all property managers should know

· PAMD Form 22a and 20a – best practice completion

· Representative from PSAQ to speak about employment agreements and registration of agreements requirements

· General agency risk management including marketing requirements and more!

For more information, please visit www.realestateexcellence.com.au or email staceyholt@me.com

Real Estate Training - Business Health Check Brisbane 25th May 2012

This interactive and practical best practice session will focus on key areas in agencies relating to compliance, best practice and risk management. Designed specifically for managers, administrators and licensees the session will focus on key areas of business including


·       PAMD Act requirement relating to office signage, complaints, employment register and more

·       Important areas of PAMD Act that all should be aware of

·       PAMD Real Estate Agency Practice Code of Conduct

·       Contracts for Residential Sales – Best practice tips and presentation to buyers

·       PAMD Key requirements that all salespeople should know

·       RTRA Key requirements that all property managers should know

·       PAMD Form 22a and 20a – best practice completion

·       Representative from PSAQ to speak about employment agreements and registration of agreements requirements

·       General agency risk management including marketing requirements and more!

For more information, please visit www.realestateexcellence.com.au or email staceyholt@me.com

Real Estate Training Queensland - Minimum period before rent can be increased

Property Managers and Lessors in Queensland are reminded about section 93 of the Residential Tenancies and Rooming Accommodation Act 2008 (QLD) in regards to minimum periods before rent can be increased for Residential Tenancies.


Rents cannot be increased less than six months since the existing rent became payable; refer to section 93 below from the Act for more information.


93 Minimum period before rent can be increased


(1) This section applies to rent (the existing rent) payable to a

lessor or lessor’s agent by the tenant of premises under a

residential tenancy agreement.

(2) The lessor or lessor’s agent must not increase the existing rent

less than 6 months since the date the existing rent became

payable by the tenant.

Maximum penalty—20 penalty units.

(3) Nothing prevents a lessor or lessor’s agent from giving notice

of an increase in rent within 6 months since the last increase

provided the increase does not take effect until 6 months or

more since the last increase.

[s 94]

(4) This section applies whether the increase in the existing rent is

to take effect during an existing agreement or from one

agreement to the next.

(5) This section also applies—

(a) if at least 1 of the tenants responsible for the existing

rent will be subject to the increase in rent; and

(b) whether or not the lessor who increases the rent is the

same person as the lessor who last increased the rent.

(6) This section does not apply if—

(a) the lessor is the chief executive of the department in

which the Housing Act 2003 is administered, acting on

behalf of the State; or

(b) the lessor is the State and the tenant is an officer or

employee of the State.

April 2, 2012

Real Estate Training - Property Management Ipswich Queensland June 22nd 2012

The 40 Questions that every Property Manager should know the answer too. A three and a half hour workshop will include a presentation from Queensland Police Drug Squad about Drug Lab Awareness.

For more information visit www.realestateexcellence.com.au or email staceyholt@me.com

Real Estate Training - Property Management Redcliffe Queensland June 8th 2012

The 40 Questions that every Property Manager should know the answer too. A three and a half hour workshop will include a presentation from Queensland Police Drug Squad about Drug Lab Awareness.

For more information visit www.realestateexcellence.com.au or email staceyholt@me.com

Real Estate Training - Property Management Caboolture Queensland June 7th 2012

The 40 Questions that every Property Manager should know the answer too. A three and a half hour workshop will include a presentation from Queensland Police Drug Squad about Drug Lab Awareness.

For more information visit www.realestateexcellence.com.au or email staceyholt@me.com