News Articles http://www.reisa.com.au/ en-us /news Copyright 2014 REISA taryn.green@reisa.com.au SB4: http://www.ivt.com.au/web-development/content-management/advanced-cms-platform 60 17th Apr 14 Time to cash in on housing market strength? <p>It can often be difficult to know when to enter the South Australian property market, as buyers tend to wait for an ideal set of circumstances to arise before making their first move.<br /> <br /> For example, you might be waiting to build up an ample deposit, prices to go down in your desired area or interest rates to be reduced.<br /> <br /> No matter what your perfect situation might be, there will come a time when you simply have to bite the bullet and make those initial steps onto the housing ladder.<br /> <br /> Now could well be the time to do just that - interest rates have been at an all-time low for seven months now and if comments from the Reserve Bank of Australia (RBA) are to be believed, property market conditions are improving.<br /> <br /> While some people might have been lucky enough to purchase when prices bottomed out, others have been biding their time as other factors fell into place to make it easier for them to buy.<br /> <br /> The RBA explained how conditions in the housing market are especially strong at the moment, with house prices increasing 10.5 per cent across the country in the 12 months to March.<br /> <br /> Dwelling investment increased in the December quarter, showing many buyers recognised that times were good and conditions in the wider market were working in their favour.<br /> <br /> Minutes from the RBA&#39;s meeting on April 1 suggested that the low interest rate environment may stay in place for a while longer, giving would-be buyers the opportunity to secure competitive home loan products.<br /> <br /> RBA Governor Glenn Stevens explained how in light of current conditions, &quot;the most prudent course was likely to be a period of stability in interest rates&quot;, potentially giving people the push they need to seek <a href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_self" class="dnautolink">real estate advice</a>.</p> http://www.reisa.com.au/news/time-to-cash-in-on-housing-market-strength http://www.reisa.com.au/news/time-to-cash-in-on-housing-market-strength 17th Apr 14 What fees could you face on your home loan? <p>Before you seek <a href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_self" class="dnautolink">real estate tips</a> and secure your perfect property, you will first need to ensure you can obtain the finance needed to make the purchase.<br /> <br /> While this can at times be a daunting process, the good news is there is&nbsp;plenty of help and advice available to make it as stress-free as possible.<br /> <br /> One factor you need to consider before signing up for a home loan is the fees that are involved - you might notice them in the fine print but be unsure of what exactly they mean.<br /> <br /> <strong>Establishment fee</strong><br /> <br /> This is a charge associated with setting up your home loan - it&#39;s a one-off payment that not everyone will face.<br /> <br /> Some mortgages with an establishment fee will have lower rates of interest, so don&#39;t disregard all products that come with this charge without doing your homework.<br /> <br /> In some cases, if you are not faced with an establishment fee then your charges might be higher throughout the duration of your home loan.<br /> <br /> <strong>Lenders mortgage insurance (LMI)</strong><br /> <br /> The financial institution you borrow from might charge LMI, which is a type of insurance taken out by credit providers in&nbsp;case you find yourself unable to repay a loan.<br /> <br /> The amount of LMI charged can vary quite considerably, but it is common for it to be applied to your mortgage in the form of a one-off payment.<br /> <br /> In general terms, the lower the loan-to-value ratio on your property, the less chance the lender will have to charge you a fee for LMI.<br /> <br /> <strong>Service and administration fees</strong><br /> <br /> Some lenders will charge ongoing fees for the administration of your account, whereas others will only impose additional charges in certain circumstances.<br /> <br /> <strong>Early exit fees</strong><br /> <br /> If you manage to pay off your home loan in full before the agreed upon date, you might be subject to an early exit fee, although the amount that can be charged is limited by law.<br /> <br /> These charges are only applicable on loans taken out before July 1 2011.</p> http://www.reisa.com.au/news/what-fees-could-you-face-on-your-home-loan http://www.reisa.com.au/news/what-fees-could-you-face-on-your-home-loan 15th Apr 14 Rewarding excellence in the real estate professions <p>The Real Estate Institute of Australia (REIA) has celebrated its 90th birthday in style with the real estate profession&rsquo;s night of nights at the Museum of Old &amp; New Art (MONA) in Hobart.</p> <p>The News Corp Australia REIA National Awards for Excellence 2014 has honoured Australia&rsquo;s most outstanding performers in the real estate profession, with the ACT taking six awards throughout the evening and four going to Victoria.</p> <p>2014 also represents REIA&rsquo;s 90th year as the peak association for real estate in this country. In 1924 the Real Estate Institutes and Associations of Australia was formed. Some name changes and 90 years later, the association is stronger than ever, representing 80% of Australia&rsquo;s real estate professionals.</p> <p>Winners of the 9th annual Awards for Excellence are:</p> <ul><li>Independent Property Group (ACT) - Large Residential Agency of the Year</li> <li>Toop&amp;Toop Hyde Park (SA) - Medium Residential Agency of the Year</li> <li>Release Property Management (VIC) - Small Residential Agency of the Year</li> <li>CBRE (VIC) - Commercial Agency of the Year</li> <li>Gary Peer &amp; Associates (VIC) - Innovation Award</li> <li>Independent Property Group (ACT) - Communications Award</li> <li>Nelson Alexander (VIC) - Community Service Award</li> <li>Wayne Harriden (ACT) - Residential Salesperson of the Year</li> <li>Mark Terracini (ACT) - Commercial Salesperson of the Year</li> <li>Hannah Gill (ACT) - Residential Property Manager of the Year</li> <li>Claudine Church (TAS) - Commercial Property Manager of the Year</li> <li>Iain Horne (QLD) - Business Broker of the Year</li> <li>Simon Pressley (QLD) - Buyer&rsquo;s Agent of the Year</li> <li>Greg Tate (QLD) - Corporate Support Person of the Year</li> <li>Vickie Arlott (ACT) - Achievement Award</li> <li>Robin Matters (SA) - President&rsquo;s Award</li> </ul> http://www.reisa.com.au/news/rewarding-excellence-in-the-real-estate-professions http://www.reisa.com.au/news/rewarding-excellence-in-the-real-estate-professions 15th Apr 14 Stable lending underpins housing demand <p>The Real Estate Institute of Australia (REIA) says the latest housing finance figures released by the Australian Bureau of Statistics (ABS) reflect a stable lending pattern.</p> <p>The figures for February 2014 show, in trend terms, that the number of owner-occupied finance commitments increased by 0.2 per cent, following increases of 0.1 per cent in January and 0.2 per cent in December 2013.</p> <p>If refinancing is excluded, in trend terms for January, the number of owner-occupied finance commitments increased by 0.4 per cent.</p> <p>REIA President, Peter Bushby says, &ldquo;Increases were recorded in New South Wales, Queensland, Western Australia and the Northern Territory with NT having the biggest rise, up 1.2 per cent. South Australia&rsquo;s fall of 0.6 per cent was the country&rsquo;s largest.&rdquo;</p> <p>&ldquo;In trend terms, the number of commitments for the construction of new dwellings climbed 1.8 per cent,&rdquo; Mr Bushby continued. &ldquo;However the purchase of new dwellings fell by 1.2 per cent and the purchase of established dwellings increased by 0.1 per cent.&rdquo;</p> <p>The value of investment housing commitments again increased but by a more moderate rate of 1.1 per cent in February following three years of consecutive monthly increases.</p> <p>&ldquo;Disturbingly, the proportion of first home buyers in the number of owner-occupied housing finance commitments again decreased to 12.5 per cent compared to the low point of 12.3 per cent in November 2013 and 13.2 per cent in January 2014. This is far lower than the long-run average proportion of 19.9 per cent, despite eight interest rate cuts since November 2011.&rdquo;</p> <p>&ldquo;February 2014 results highlight the plight of first home buyers and the need for all Governments to work together on a national response to address housing affordability for this marginalised group,&rdquo; concluded Mr Bushby.</p> http://www.reisa.com.au/news/stable-lending-underpins-housing-demand http://www.reisa.com.au/news/stable-lending-underpins-housing-demand 10th Apr 14 Check the fine print on your home loan <p>Buying a property is an exciting time and with so many aspects of the purchase to think about, it can be all too easy to forget about the finer details.<br /> <br /> Before signing on the dotted line with your chosen home loan provider, make sure you take some time to take a closer look at the small print. While this might seem like a tedious task, it could save you facing some nasty surprises further down the line!<br /> <br /> Here are some clauses to keep an eye out for to ensure you are happy with your decision and understand the <a href="http://www.reisa.com.au/membershipinformation/membership" target="_self" class="dnautolink">real estate law</a> surrounding your transaction.<br /> <br /> <strong>Check the credit contract</strong><br /> <br /> No matter what financial agreement you are signing up for, there will be some kind of credit contract involved. Whether you&#39;re applying for a credit card or a home loan, these details often remain the same on this type of document.<br /> <br /> As a result, it is recommended that you double check the name of the business lending you the money for the purchase of your property, as well as the details of the loan.<br /> <br /> All credit providers are required under Australian law to be licensed - you can check your provider is by getting in touch with the Australian Securities and Investments Commission either online or by phone.<br /> <br /> Its professional register will assure you that your home loan provider has all the necessary credentials to lend you the money.<br /> <br /> There should also be information on how interest will be calculated and charged - this may impact on your home loan repayments, so make sure you are fully aware of what you will be expected to pay.<br /> <br /> Lenders are also required to provide details on what would happen should you find yourself unable to meet the payment schedule. You might face additional fees or face a higher interest rate should this situation arise.</p> http://www.reisa.com.au/news/check-the-fine-print-on-your-home-loan http://www.reisa.com.au/news/check-the-fine-print-on-your-home-loan 10th Apr 14 Understanding different types of interest rates <p>One of the first factors you will need to consider when buying a property is the type of home loan you are going to sign up for. There are various different types available, so it is essential to select the one that is best suited to your needs.<br /> <br /> As anyone who has undergone <a href="http://www.reisa.com.au/training/a-career-in-real-estate" target="_self" class="dnautolink">real estate training</a> will tell you, the home loan with the lowest interest rate might not necessarily be the best option. In light of this, make sure you spend some time getting to grips with the ins and outs of each product before making your final choice.<br /> <br /> <strong>Fixed&nbsp;rate products</strong><br /> <br /> Fixed-rate home loans are finding favour with buyers at the moment and with the cash rate at an all-time low, it&#39;s not difficult to see why.<br /> <br /> A fixed rate mortgage enables you to lock in an interest rate on your loan for a set period of time, usually between one and five years.<br /> <br /> This gives you a certain degree of security, as you know your repayments won&#39;t fluctuate in this timeframe. If interest rates fell further, however, you wouldn&#39;t reap the benefits.<br /> <br /> <strong>Variable rate products</strong><br /> <br /> Another option open to property buyers is a variable rate mortgage. If the cash rate were to fall further, you would be able to make the most of the decline if it was passed on by your lender.<br /> <br /> Be aware that the opposite could happen - if the cash rate rises, so will your home loan repayments, so from a budgeting point of view you might find yourself on tenterhooks.<br /> <br /> <strong>Interest-only home loans</strong><br /> <br /> An interest-only home loan does exactly what it suggests - you just pay off the interest your mortgage accrues.<br /> <br /> This can be a great option if you want to keep your loan repayments to a minimum, but in theory it means that the mortgage will never be fully paid off. It is also worth nothing that after a certain time frame, you&#39;ll be expected to pay off the whole balance in one lump sum.</p> http://www.reisa.com.au/news/understanding-different-types-of-interest-rates http://www.reisa.com.au/news/understanding-different-types-of-interest-rates 8th Apr 14 SA benefits from balanced market <p>It&#39;s no secret that the Australian property market has experienced some ups and downs over recent months, but those undergoing <a href="http://www.reisa.com.au/training/a-career-in-real-estate" target="_self" class="dnautolink">real estate training</a> in South Australia may be starting to see some stability.<br /> <br /> The latest Commonwealth Bank/RP Data Home Buyers Index (HBI) found that the national property market is working in the favour of purchasers, but this is not necessarily the case in SA.<br /> <br /> Analysis shows that the state is currently experiencing balanced activity as the number of properties for sale is on par with buyer demand.<br /> <br /> This marks a stark contrast from October 2013 when the HBI deemed SA&#39;s property market to be largely dominated by buyers.<br /> <br /> Clive van Horen, general manager of home loans&nbsp;at Commonwealth Bank, explained how anyone hoping to secure real estate in any part of the country should look outside capital cities for the best buys.<br /> <br /> &quot;With mixed market conditions across the country, buyers should undertake comprehensive research before entering negotiations, including looking at comparative property valuations and real market value data, as well as getting tailored advice from lending specialists,&quot; he commented.<br /> <br /> This follows the release of the March RP Data - Rismark Home Value Index, which showed rising dwelling values across the majority of the nation&#39;s capitals.<br /> <br /> Capital city dwelling values increased 2.3 per cent throughout March and are 3.5 per cent higher at the end of the first quarter of the year than they were at the start.<br /> <br /> However, Rismark&#39;s Managing Director Ben Skilbeck said it could be seasonality having an impact on the findings, as March is typically a strong selling month.<br /> <br /> &quot;As such, there should be little surprise that, in the presence of high auction clearance rates and in the absence of any major economic changes, the March month delivered materially stronger performance than the flat February result,&quot; he commented.</p> http://www.reisa.com.au/news/sa-benefits-from-balanced-market http://www.reisa.com.au/news/sa-benefits-from-balanced-market 3rd Apr 14 Population growth highlights opportunities for South Australian invest <p>Australia&#39;s population has been growing over the last few years, with further growth expected in the years to come. In fact, the nation&#39;s growing population has become a point of discussion&nbsp;regarding&nbsp;housing supply across the country and where these new people will find accommodation.&nbsp;</p> <p>Many people have begun taking advantage of the situation by purchasing land or properties and becoming investors - building up lots and refurbishing homes, in order to make them attractive for renters or profitable from capital gains.&nbsp;</p> <p>If you&#39;re interested in becoming a property investor in South Australia, now could be the perfect time to seek <a href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_blank">real estate advice</a> from an industry professional. The latest release from the Housing Industry Association (HIA) highlighted the strong demand for housing across the nation, which could present a&nbsp;great opportunity for budding investors.&nbsp;</p> <p>According to HIA Economist Geordan Murray, Australia&#39;s population grew by over 100,000 during the September quarter of 2013, rising to 23.24 million. This resulted in an annual population growth rate of 1.8 per cent.&nbsp;</p> <p>&quot;We have a situation where the importance of migration in securing the nation&#39;s future economic prosperity is widely, and appropriately, acknowledged,&quot; said Mr Murray in a March 27 statement.</p> <p>&quot;It is vital that the implications of stronger population growth for housing demand are reflected in a clear and strategic focus on housing supply policy from all levels of government.&quot;&nbsp;</p> <p>Natural population growth for the nation was 164,428 for the 12 months ending September 2013 - representing a 2.9 per cent growth over the previous year and contributing 0.7 percentage points to the overall population rise for the year.&nbsp;</p> <p>Furthermore, overseas migration increased 1&nbsp;per cent over the year to September 2013, rising by 241,018. These figures highlight a strong market for potential investment, which could be a lucrative undertaking for anyone considering real estate in South Australia.</p> http://www.reisa.com.au/news/population-growth-highlights-opportunities-for-south-australian-invest http://www.reisa.com.au/news/population-growth-highlights-opportunities-for-south-australian-invest 3rd Apr 14 Home values continue to rise in Adelaide <p>Following a slower month in February, there is positive news for the property market in March with dwelling prices experiencing a rise across the country.</p> <p>The RP Data-Rismark Home Value Index for March saw home values across the capital&nbsp;cities&nbsp;increase by 2.3 per cent following a stagnant month in February.</p> <p>This has resulted in a a strong finish to the first quarter of the year, with the&nbsp;overall increase in values sitting at 3.5 per cent.</p> <p>This may signal that confidence in the market is continuing across the country and in South Australia.&nbsp;</p> <p>All the capital cities, with the exception of Perth, recorded positive growth.&nbsp;</p> <p>The South Australian capital saw an increase of house values of&nbsp;1.4 per cent over the month. This is 4.6 per cent higher than the same time last year.&nbsp;</p> <p>With the median&nbsp;dwelling price of houses in Adelaide sitting at $390,000, it remains one of the more affordable capitals in the country.&nbsp;</p> <p>In terms of units this change was only 1.1 per cent, which might suggest that houses are a better investment option than units in Adelaide.&nbsp;</p> <p>The news was also positive for owners or potential buyers of rental properties in Adelaide, as rental yields rose a further 4.3 per cent during March.&nbsp;</p> <p>Although this news is positive, RP Data&#39;s Tim Lawless had some concerns as to the sustainability of the current rate of value increases. Since June last year, housing values are up by a substantial 13 per cent across the capitals.&nbsp;</p> <p>&quot;Over the long term, I don&#39;t believe such a strong pace of growth can be sustained - we expect housing market conditions to cool down as the year progresses,&quot; said Mr Lawless in an&nbsp;April 1 statement.</p> <p>Sound <a href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_blank">real estate advice</a> would be to encourage those thinking about selling their property&nbsp;to do so in the earlier months of the year while&nbsp;values remain optimistic.&nbsp;</p> http://www.reisa.com.au/news/home-values-continue-to-rise-in-adelaide http://www.reisa.com.au/news/home-values-continue-to-rise-in-adelaide 2nd Apr 14 Social media: Creating real estate opportunities online <p>Anyone considering pursuing a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate" target="_self">real estate career</a> would do well to make the most of all the tools at their disposal. In an increasingly interconnected world, having the skills and technology to reach clients - both established and potential - will be the difference between success and failure.&nbsp;</p> <p><strong>Utilising social media</strong></p> <p>As a real estate agent, you&#39;ll be competing against other agents for the attention of clients. Therefore, you need to be able to communicate clearly and concisely exactly what it is you can offer clients&nbsp;and why they should choose you over any of the other agents in the local area.&nbsp;</p> <p>With social media becoming an increasingly integral part of everyday life, mastering these skills will help put you in a great position to garner attention and foster relationships. Not only does this provide you with a softer, more human appearance than a website - but being able to actively interact with people and respond to queries is a great way to begin business.&nbsp;</p> <p>Furthermore, using these tools to keep an eye on other real estate professionals will allow you to see what you&#39;re up against. Writing and posting pieces of <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_self">real estate advice</a> and tips could be a great way to give yourself a point of difference, providing your clients with a service free of charge that can help them make the best decisions possible.&nbsp;</p> <p><strong>Creating relationships</strong></p> <p>By providing a transparent iteration of yourself online - and across a wide range of different avenues - you can help to gain the trust of your clients. If buyers feel appreciated by their agent and trust them, chances are they will come back to them&nbsp;if they decide to pursue new real estate goals in the future.&nbsp;</p> <p>Furthermore, build your business off referrals. Take the time to go the extra mile, as people will talk and your business will spread by word of mouth.&nbsp;</p> http://www.reisa.com.au/news/social-media-creating-real-estate-opportunities-online http://www.reisa.com.au/news/social-media-creating-real-estate-opportunities-online 26th Mar 14 The basics of approaching an auction: Tips for successful bidding <p>Buying property in Australia in this day&nbsp;and&nbsp;age means you&#39;ll most likely come up against an auction situation. These proceedings can be difficult to navigate, especially if this is your first time approaching the real estate market. However, speaking with a property professional can help you get <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_self">real estate advice</a> about how to successfully purchase a home for you and your family.&nbsp;</p> <p>Here are some tips to help you approach the auction market, especially if you&#39;re serious about securing real estate in the coming months.&nbsp;</p> <p><strong>Organise your finances</strong></p> <p>Before you approach the market and begin looking into potential homes, it&#39;s essential to take a look at your finances. Understanding just how much you have in reserve and generating an idea about how much you&#39;ll need to borrow is a great way to give yourself search guidelines for property.&nbsp;</p> <p>After all, you don&#39;t want to begin looking at real estate out of financial reach. Speaking with a financial expert will help you find the median price of properties in the area you&#39;re looking into, which is an essential part of purchasing property at auction.&nbsp;</p> <p>Often vendors will want to sign the contracts as soon as the proceeding is finished, which means those who have their finances ready to go straight away are at an advantage.&nbsp;</p> <p><strong>Have a well-prepared game plan</strong></p> <p>Auctions are a naturally competitive environment. It can be easy to get caught up in the rush of bidding for a property, but be sure to keep your budget in mind. Nothing could be worse than securing a property&nbsp;only to find out you&#39;ve overstepped your limitations and end up in a huge amount of debt.&nbsp;</p> <p>Have a bidding limit and if the price soars above this, stop participating. It&#39;s better to miss out on a property than be crippled with debt over the long term.</p> http://www.reisa.com.au/news/the-basics-of-approaching-an-auction-tips-for-successful-bidding http://www.reisa.com.au/news/the-basics-of-approaching-an-auction-tips-for-successful-bidding 26th Mar 14 First time buyer? Tips for aiding real estate success in SA <p>As a first home buyer approaching the South Australian real estate market, you&#39;d be forgiven for feeling a little overwhelmed. After all, if you&#39;ve never had any experience with the lingo and jargon involved with property, it could sound like another language altogether.&nbsp;</p> <p>However, it doesn&#39;t have to be a confusing, testing experience. Seeking <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_self">real estate advice</a> is always a great way to gain insight&nbsp;into&nbsp;the market, which can help you make the right decision in the long run.&nbsp;</p> <p>Furthermore, there is a wealth of information online that can be used to inform your choices. Here are some <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_self">real estate tips</a> to get you started.&nbsp;</p> <p><strong>Location, location, location</strong></p> <p>Purchasing property is as much about the future as it is the present. What this means is, chances are you&#39;ll stay in your home for an extended period of time, so ensuring you take this into consideration when looking into neighbourhoods is essential.&nbsp;</p> <p>For example, how far away are you from your place of work? Is there enough public transport infrastructure there to make your commute painless? Do you have easy access to main roads for driving?&nbsp;</p> <p>Furthermore, ensuring your home falls within the zoning laws of nearby schools&nbsp;is a crucial thing to consider if you&#39;re planning on having children.&nbsp;</p> <p><strong>Budgeting for success</strong></p> <p>Before approaching the market, it&#39;s important to check out the status of your financial health. Approaching a lender will provide you with a decent overview of your standing, which you can use to make a more informed decision.&nbsp;</p> <p>Remember that the usual home loan deposit amount is 20 per cent, although this varies between different lending&nbsp;institutions. Furthermore, doing everything you can to increase your chances of securing a home loan - taking care of outstanding debt, closing unused credit cards, etc. - could be a great way to help boost your likelihood of success.</p> http://www.reisa.com.au/news/first-time-buyer-tips-for-aiding-real-estate-success-in-sa http://www.reisa.com.au/news/first-time-buyer-tips-for-aiding-real-estate-success-in-sa 26th Mar 14 Challenge yourself: Become a real estate agent today <p>If you&#39;re interested in finding a new line of work, you should consider undertaking <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate" target="_self">real estate training</a> and becoming a professional agent in South Australia. There are a number of benefits to undertaking this change, with immense job satisfaction rocketing to the top of the list.&nbsp;</p> <p>Being able to help people secure their dream home&nbsp;is a great feeling. While it may be a difficult job at times, nothing beats the feeling of being able to get people in a home they absolutely adore.&nbsp;</p> <p>While putting in the hard yards in some careers is thankless, selling homes and providing people with the object of their dreams often results in a positive result. The more you put in, the more you get out - and the happier your working days will become.&nbsp;</p> <p>Furthermore, having a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate" target="_self">real estate career</a> means you won&#39;t&nbsp;be stuck behind a desk all day. Being out and about, visiting homes and leading an active, healthy lifestyle will help you feel great and enthusiastic about coming into work every day.&nbsp;</p> <p>Plus you get to meet a wide range of interesting people, helping you to break up the monotony of seeing the same coworkers every day of the week. This suits people who are naturally sociable and look forward to being challenged. This is because everyone is different - so you won&#39;t come up against the same problem twice!&nbsp;</p> <p>This could be a great option for anyone interested in a change of pace from their current career. There are a number of <a class="dnautolink" href="http://www.reisa.com.au/training/training" target="_self">real estate courses</a> available to be taken in South Australia, so there are always opportunities to break into the industry.&nbsp;</p> <p>Seek out a local real estate training course in your area and take the first step towards a challenging, rewarding career in the property industry.</p> http://www.reisa.com.au/news/challenge-yourself-become-a-real-estate-agent-today http://www.reisa.com.au/news/challenge-yourself-become-a-real-estate-agent-today 25th Mar 14 Economic growth predicted for South Australia <p>Taking <a class="dnautolink" href="http://www.reisa.com.au/training/training" target="_self">real estate courses</a> means knowing about&nbsp;more than just&nbsp;selling houses in South Australia. One of the biggest factors to consider is the wider context of the state&#39;s economy, in order to provide&nbsp;your clients with the best insight possible.&nbsp;</p> <p>The latest report from Deloitte has highlighted South Australia as having a huge number of growth prospects in the near future, with increasing&nbsp;opportunities for health and aged care possibilities, as well as rising industries in ICT, food processing and the super growth of things like agribusiness, resources and tourism.</p> <p>With increasing economic growth&nbsp;across the state, there could be something enticing for a number of people across the nation looking for change in their lives. With the growth of state economies, infrastructure and job opportunities comes an influx of people - spurred on by the expected population boom heading towards Australia over the next few years.&nbsp;</p> <p>South Australia Managing Partner of Deloitte Jody Burton said domestic sectors will be more important for South Australia than other states, with the highest growth potential for these sectors&nbsp;across the state.&nbsp;</p> <p>One thing being highlighted by the report is the potential for new ocean resources, as well as food processing and other similar sectors enabled by technologic advances.&nbsp;</p> <p>&quot;With such a variety of sectors at the intersection of these new and emerging trends, future growth opportunities certainly exist for a large number of South Australia&#39;s small and medium enterprises - businesses that are the lifeblood of our state&#39;s economy,&quot; said Ms Burton in a March 24 statement.&nbsp;</p> <p>As the state begins to gain speed, now could be the perfect time for people to consider moving to the region. If you&#39;re seeking <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_self">real estate advice</a> about the home options in the region, now could be the time to get in touch with a property expert.</p> http://www.reisa.com.au/news/economic-growth-predicted-for-south-australia http://www.reisa.com.au/news/economic-growth-predicted-for-south-australia 21st Mar 14 National Awards recognise the elite in SA’s real estate industry <p>Two South Australians have taken home top honours for their exceptional achievements and ongoing commitment to the real estate profession at the National Real Estate Institute of Australia Awards in Hobart last night.</p> <p>Robin Matters received the prestigious President&rsquo;s Award which recognises a truly outstanding contribution to the real estate profession.&nbsp;</p> <p>Toop&amp;Toop Hyde Park won Medium Residential Agency of the Year for excellence in agency practice in the residential sector. &nbsp;</p> <p>Real Estate Institute of South Australia President, Mr Ted Piteo, said that he was thrilled to see South Australians being acknowledged on the national stage.</p> <p>&ldquo;The life of a real estate professional can be a tough and demanding one. The winners here tonight, exemplify the passion and commitment required for this career.&rdquo;</p> <p>&ldquo;REISA congratulates Robin Matters and the team at Toop&amp;Toop Hyde Park for their success at the Awards. Both are worthy winners and true exemplars of REISA&rsquo;s dedication to excellence.&rdquo;</p> http://www.reisa.com.au/news/national-awards-recognise-the-elite-in-sas-real-estate-industry http://www.reisa.com.au/news/national-awards-recognise-the-elite-in-sas-real-estate-industry 19th Mar 14 Installing a swimming pool: What guidelines need to be observed? <p>Renovating your home is one of the best benefits to owning your own property. Being able to undertake any type of customisation or change at your own discretion makes creating the home you want much easier than working around the limitations put in place by landlords at rental properties.&nbsp;</p> <p>Of course, like most things&nbsp;concerning&nbsp;property, there are a number of factors&nbsp;you need to be aware of. For example, installing a pool in your home may be&nbsp;a dream of yours, but it could be worth seeking some <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_self">real estate advice</a> before pursuing this goal.&nbsp;</p> <p>While these are a popular addition to homes across Australia, there are rules and regulations that need to be observed. These are in place for the safety and security of anyone who may be in contact with the pool. One of the most important guidelines outlined in the&nbsp;Swimming Pools (Safety) Act 1972 is that all pools are required to be fenced off with either a fence, wall, or inside a building.&nbsp;</p> <p>Furthermore, the enclosing structure needs to be a minimum height of 1.2 metres high, as well as competent enough to stop small children passing through or underneath it. There aren&#39;t allowed to be any foot or hand holds that could be scaled by anyone, and any gates need to be safely secured against children.&nbsp;</p> <p>These rules are all in place to help prevent any tragic accidents happening with children. Any house found violating these guidelines will&nbsp;face&nbsp;a fine. Something to keep in mind is that the Act defines &quot;swimming pool&quot; as any excavation or structure that can be filled with water and used for the purpose of swimming.&nbsp;</p> <p>This includes paddling pools, so it could be worth looking into the options available to you before undertaking any renovations to do with swimming pools.</p> http://www.reisa.com.au/news/installing-a-swimming-pool-what-guidelines-need-to-be-observed http://www.reisa.com.au/news/installing-a-swimming-pool-what-guidelines-need-to-be-observed 19th Mar 14 Investors corner housing market <p>The Real Estate Institute of Australia (REIA) says the latest housing finance figures released by the Australian Bureau of Statistics (ABS) show, in trend terms, the first decline in the owner-occupied market for the last twelve months to January.<br /> <br /> Housing finance figures for January 2014 show, in trend terms, that the number of owner-occupied finance commitments decreased by 0.1 per cent, following an increase of 0.1 per cent in November and a flat December 2013.<br /> <br /> If refinancing is excluded, in trend terms for January, the number of owner-occupied finance commitments increased by 0.2 per cent.<br /> <br /> REIA President, Peter Bushby says, &ldquo;Increases were recorded in New South Wales, Queensland and Western Australia, with Queensland having the biggest rise, up 0.6 per cent. The Australian Capital Territory&rsquo;s fall of 1.6 per cent was the country&rsquo;s largest and South Australia remained flat.&rdquo;<br /> <br /> &ldquo;In trend terms, the number of commitments for the construction of new dwellings climbed 1.8 per cent,&rdquo; Mr Bushby continued. &ldquo;However the purchase of new dwellings fell by 1.4 per cent and that of established dwellings fell by 0.3 per cent.&rdquo;<br /> <br /> The value of investment housing commitments continued to increase, with a rise of 1.6 per cent, in trend terms, in January resulting in nearly three years of consecutive monthly increases.<br /> <br /> &ldquo;The proportion of first home buyers in the number of owner-occupied housing finance commitments rose from its historically lowest point of 12.3 per cent in November 2013 to 13.2 per cent in January 2014. Despite the increase, it is far lower than the long-run average proportion of 19.9 per cent, despite eight interest rate cuts since November 2011.&rdquo;<br /> <br /> &ldquo;January 2014 results highlight the need for all Governments to act on housing affordability,&rdquo; concluded Mr Bushby.</p> http://www.reisa.com.au/news/investors-corner-housing-market http://www.reisa.com.au/news/investors-corner-housing-market 18th Mar 14 Having an open home? Two tips to help facilitate the selling process <p>Selling your real estate in this day and age means putting in a lot of work to ensure that potential buyers have every opportunity possible to get a feel for the property. While this means seeking good <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_self">real estate advice</a> and having your agent create a fantastic profile, the best way to entice people is to stage your own open home. Here are some <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_self">real estate tips</a> to aid your open home success.&nbsp;</p> <p><strong>Clean the property thoroughly</strong></p> <p>While this may seem like an obvious step to take, there are a wide range of benefits to getting really thorough with the cleaning process. Vacuuming your home, washing the windows and walls, mopping hardwood floors and tiles - all these methods can help you present your home in the most pristine way possible.&nbsp;</p> <p>if you aren&#39;t a fan of cleaning, it could be worth investigating the option of hiring a professional to help you out. Their eye for detail and expertise in hygiene and cleanliness&nbsp;will go the distance when it comes to presenting your home in&nbsp;the best light possible.&nbsp;</p> <p><strong>Prepare inspection reports&nbsp;</strong></p> <p>One thing that most people will want to undertake before committing to a property are pest and strata inspections. These involve an independent expert coming into the property and checking for potential signs of rodents or costly repairs in the future.&nbsp;</p> <p>There are two benefits to having these inspections done and providing the results to anyone who is interested. Not only will this help to reduce the amount of time spent waiting for an independent&nbsp;person to come and do their own inspections, but it also helps to create transparency and trust between yourself and potential buyers - &nbsp;proving you have nothing to hide in the property.&nbsp;</p> http://www.reisa.com.au/news/having-an-open-home-two-tips-to-help-facilitate-the-selling-process http://www.reisa.com.au/news/having-an-open-home-two-tips-to-help-facilitate-the-selling-process 18th Mar 14 Tenancy disputes: Two steps to help resolve complicated situations <p>Being a landlord is a great way to get ahead in life&nbsp;while also helping to provide people with the basic accommodation needed to enjoy a happy, healthy lifestyle. And while the ideal renter situation would be one of uncomplicated, minimal contact, this is hardly ever the case.&nbsp;</p> <p>It is your responsibility as a landlord to take care of the needs of your tenants with regards to house issues, including repairs and any other problems that might occur during their stay. However, sometimes there are altercations that escalate where you may need to figure out the appropriate steps to defuse a situation.&nbsp;</p> <p>The most important thing to do is act as soon as possible. Don&#39;t let tenancy disputes fester away for extended periods of time, otherwise you could find new issues appearing or old grievances becoming more tangled than originally thought.&nbsp;</p> <p><strong>Remain calm</strong></p> <p>Keeping yourself level headed throughout the situation will help you make rational decisions. Being blinded by emotion can lead to rash choices, which open you up to retaliatory action or even legal disputes in the long run.&nbsp;</p> <p>Speaking with your tenant about the problem that has arisen and trying to work through this together is the best way to resolve these types of issues. Unfortunately, sometimes diplomacy isn&#39;t as effective as one might hope.&nbsp;</p> <p><strong>Speak to you property manager</strong></p> <p>One way to avoid this completely is to hire the services of a property manager. This way, they will be the ones who take care of any issues that arise immediately. In a case&nbsp;where things escalate to a legal situation, their up-to-date knowledge of the laws surrounding landlord and tenant rights will ensure both parties get a fair deal.&nbsp;</p> <p>Their <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_self">real estate advice</a> is invaluable, so you should consider seeking the services of a property manager in the future to avoid stressful tenancy issues.</p> http://www.reisa.com.au/news/tenancy-disputes-two-steps-to-help-resolve-complicated-situations http://www.reisa.com.au/news/tenancy-disputes-two-steps-to-help-resolve-complicated-situations 13th Mar 14 Choosing the right agent: What should you look for in a real estate pr <p>Hiring a real estate agent to help you should be one of the first things you consider&nbsp;when looking into selling your home. An agent&#39;s&nbsp;<a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_self">real estate advice</a> and expertise will help you earn the best possible return from your property.&nbsp;</p> <p>After all, selling your home is a huge commitment of&nbsp;both time and finances. You want someone who has undertaken <a class="dnautolink" href="http://www.reisa.com.au/training/training" target="_self">real estate courses</a> and knows the ins and outs of the market to be batting on your side, rather than going it alone or without someone who has completed basic <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate" target="_self">real estate agent training</a>.&nbsp;</p> <p>But choosing your own agent comes down to personal discretion. Here are some things you may wish to consider in the long run.&nbsp;</p> <p><strong>Excellent communication skills</strong></p> <p>Real estate agents need to be good at getting messages across to potential buyers, as well as explaining complicated property jargon to you in simple, easy to understand terms. Because of the marketing involved with selling your home, this skill is crucial to ensuring you achieve the best deal possible.&nbsp;</p> <p><strong>Knowledge of local markets and national trends</strong></p> <p>Having an in-depth knowledge of the local market will help your agent effectively highlight the main drawing cards for your property to buyers&nbsp;in order to win them over and encourage them to attend your auction&nbsp;or place an offer on your property.&nbsp;</p> <p>Furthermore, being aware of the overall trends and occurrences in the Australian real estate landscape will allow them to approach the sale of your home with a wider context in mind. This could mean something as simple as highlighting a relevant, current trend in your home&nbsp;as a selling point.</p> <p><strong>Friendly and affable</strong></p> <p>No one knows how long it could take to sell your home. Therefore you&#39;ll want to find an agent you don&#39;t mind building a strong working relationship with. Someone you can get along with on friendly terms will be a lot more beneficial in the long run, helping to alleviate stress and reach a satisfying sales conclusion.</p> http://www.reisa.com.au/news/choosing-the-right-agent-what-should-you-look-for-in-a-real-estate-pro http://www.reisa.com.au/news/choosing-the-right-agent-what-should-you-look-for-in-a-real-estate-pro 12th Mar 14 Housing approvals increase across South Australia during January <p>The number of housing approvals in South Australia experienced a strong degree of growth at&nbsp;the beginning of the year, which could be great news for the strengthening&nbsp;real estate industry across the state. These developments could be great for those undertaking <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate" target="_self">real estate training</a>, with the increasing supply of properties helping to propel the industry further.&nbsp;</p> <p>Approval rates across the state are beginning to reach levels last seen in the 2000s, with the Housing Industry Association (HIA) highlighting the seasonally adjusted growth rate for the state reaching 10.5 per cent in January - with an overall&nbsp;high of 1,059 approvals for the month.&nbsp;</p> <p>This figure takes the number of approvals for the three months&nbsp;to January to a level 19.6 per cent higher than the previous quarter. HIA Executive Director (SA) Robert Harding&nbsp;said this growth was encouraging to see in the region, especially with the the real estate industry expected to become an important driver for the state&#39;s development.&nbsp;</p> <p>Mr Harding said it could be interesting to see how the industry continues to grow following the conclusion of the state government&#39;s housing construction grant in December last year.&nbsp;</p> <p>&quot;While the grant&#39;s conclusion does present some degree of uncertainty, the latest approvals results are signalling improving prospects for South Australia&#39;s residential construction sector in 2014,&quot; said Mr Harding in a March 4 statement.&nbsp;</p> <p>With the number of approvals increasing across the state, the region seems to be maintaining itself well in lieu of the government&#39;s financial aid. Now could be the perfect time for people to consider building their own home in South Australia, in order to help provide economic stimulation for the area and strengthen the region overall.&nbsp;</p> <p>If you&#39;re interested in seeking <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_self">real estate advice</a> in South Australia, get in contact with the experts at REISA to discuss the options available to you and gain and insight into the area&#39;s&nbsp;growing industry.&nbsp;</p> http://www.reisa.com.au/news/housing-approvals-increase-across-south-australia-during-january http://www.reisa.com.au/news/housing-approvals-increase-across-south-australia-during-january 11th Mar 14 Tenant discrimination: Understanding your landlord obligations <p>If you&#39;re interested in a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate" target="_self">real estate career</a>, one thing you need to know about&nbsp;is the law&nbsp;surrounding tenancy agreements. More specifically, the importance of selecting tenants based on their qualities and not discriminating against anyone.&nbsp;</p> <p>Reading up on the rules and regulations of owning investment property and operating as a landlord could help to&nbsp;save you from complicated legal problems. Ensuring you understand your obligations and responsibilities as a property owner is an essential part of successfully running a real estate investment.</p> <p><strong>Finding the right tenants</strong></p> <p>For example, under the&nbsp;Equal Opportunity Act 1984 (SA), landlords cannot discriminate against tenants based in&nbsp;attributes such as age, gender, disability, marital status, pregnancy, race, religion or sexuality. Furthermore, their association with children or spouses isn&#39;t allowed to be factored into the equation either.&nbsp;</p> <p>As a landlord, this means you&#39;re unable to turn people away based on their personality or characteristics. However, it is okay to turn people away based on their previous experiences and rental history.&nbsp;</p> <p>People who have been evicted from properties earlier in their lives can be turned down without worry, as well as if people are&nbsp;smokers or pet owners if this goes against the rules you&#39;ve personally set for the property.&nbsp;</p> <p>By this token, telling people the specific reason why you turned them away is important. This will help to cover you from potential legal problems beginning from presumed discrimination, allowing you to avoid lawsuits and legal complications.&nbsp;</p> <p>Furthermore, this advice works on the other side of the fence. If you feel like you&#39;ve been denied a rental property based on discrimination, then you could have grounds to claim discrimination in the eyes of the law.&nbsp;</p> <p>If you&#39;re after more <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_self">real estate tips</a> - regardless of whether you&#39;re a landlord or tenant - now could be the time to get in contact with an REISA&nbsp;member to discuss your current situation and find the right solution for you.</p> http://www.reisa.com.au/news/tenant-discrimination-understanding-your-landlord-obligations http://www.reisa.com.au/news/tenant-discrimination-understanding-your-landlord-obligations 5th Mar 14 First Home Buyers Find Housing is Not Affordable <p>The Real Estate Institute of Australia (REIA) says that in the December quarter of 2013, the number of first home buyers was the lowest since the Australian Bureau of Statistics started to collect data and is also persistently low compared to the long-run average despite eight interest rate cuts since November 2011.<br /> <br /> REIA President Peter Bushby says, &ldquo;The latest Adelaide Bank/REIA Housing Affordability Report shows that first home buyers made up only 12.5% of the owner-occupier market compared to 13.6% in the previous quarter.&rdquo;<br /> <br /> &ldquo;Following the changes to the First Home Owner Grant introduced by the Victorian government, which skew assistance away from existing dwellings (the clear preference of first home buyers), that state continued to show a fall in the number of first home buyers, down by 22.7% over the quarter and 28.1% for the year.&rdquo;<br /> <br /> &ldquo;The report also shows the proportion of income required to meet loan repayments increased 1.0 percentage point over the quarter to 30.8%.&rdquo;<br /> <br /> &ldquo;With the exception of the Northern Territory, all states and territories recorded downturns in affordability however, compared to the same quarter of 2012, affordability improved over the longer term with the proportion dropping by 1.8 percentage points.&rdquo;<br /> <br /> &ldquo;The ACT remained the most affordable state or territory in which to buy a home, largely due to the high average income and NSW remained the least affordable.&rdquo;<br /> <br /> &ldquo;Rental affordability improved in Victoria, Queensland, South Australia, Western Australia, the Northern Territory and the ACT but worsened in NSW and Tasmania with the proportion of median income required to meet average rent rising 0.3 and 0.9 percentage points respectively,&rdquo; concluded Mr Bushby.<br /> <br /> The report is available for members by <a href="http://www.reisa.com.au/documents/item/744" target="_blank">clicking here.&nbsp;</a></p> http://www.reisa.com.au/news/first-home-buyers-find-housing-is-not-affordable http://www.reisa.com.au/news/first-home-buyers-find-housing-is-not-affordable 28th Feb 14 Tips for a successful open home <p>Anyone undertaking a <a class="dnautolink" href="http://www.reisa.com.au/training/training" target="_self">real estate course</a> with the hope of becoming a property&nbsp;agent has a lot to learn. One of the best skills to pick up early on is how to present an open home to successfully sell a property.&nbsp;</p> <p>After all, first impressions are important and you want to give the best one possible to any potential buyers walking through the doors, in order to facilitate a fast sale. Here are some <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_self">real estate tips</a> to help you get the most out of your open homes.&nbsp;</p> <p><strong>Open the space up</strong></p> <p>Nothing entices people more than having an abundance of light and fresh air streaming through the home. This not only helps to make the home aesthetically pleasing, but it also airs the property out, replacing any old musty smells with a freshly cleansed aroma.&nbsp;</p> <p>After all, you can never have too much sunlight and fresh air in a home, so open windows and curtains - especially in main living areas - to maximise&nbsp;these factors.&nbsp;</p> <p><strong>Make the home neutral&nbsp;</strong></p> <p>One thing that people love to do when entering an open home is to try imagining their own belongings and personal effects decorating the room.</p> <p>Therefore, one tip for helping to facilitate this process is to take down any personal family photos, awards or other sentimental pieces, and reduce the awareness of someone else currently living in the property to help engage potential buyers and their imaginations.&nbsp;</p> <p><strong>Do a thorough clean</strong></p> <p>While this one may seem obvious, it doesn&#39;t hurt to mention. Ensure your clients take the time to scrub every inch of their home - and this doesn&#39;t just mean the&nbsp;inside.&nbsp;</p> <p>Taking care of the exterior will help to increase the home&#39;s kerb appeal, which is essential for teasing potential buyers into the property. Mowing the lawns and tending to the gardens are a great way to help spruce the property up before an open home.&nbsp;</p> http://www.reisa.com.au/news/tips-for-a-successful-open-home http://www.reisa.com.au/news/tips-for-a-successful-open-home 28th Feb 14 Grant for elderly downsizing good news for South Australia <p>News that could interest those with real estate careers in South Australia was revealed&nbsp;earlier this week (February 22), with the Labour government in the state announcing a new grant that will help the elderly downsize their properties in the near future. This could be great news for retirees looking into their accommodation options.&nbsp;</p> <p>Premier Jay Weatherhill announced an $8,500 grant to people aged over 60 with the intention of downsizing their homes, which will be available for new builds over $400,000 and phase out for properties valued over $450,000. The government aims to commit $7 million to the strategy for two years, after which time the plan will be re-evaluated and amended.&nbsp;</p> <p>&quot;Labours&#39; grant will boost the construction of new homes and increase the supply of existing housing stock, providing greater opportunities for younger South Australians to take the first step to home ownership,&quot; said Richard&nbsp;Angove, executive director of the Property Council (SA Division) in a February 24 statement.&nbsp;</p> <p>In partnership with the stamp duty concessions for central business district apartments, this could offer a number of opportunities for older South Australians - which will also result in a range of flow on effects for the overall state in general.&nbsp;</p> <p>&quot;When you consider the gains made by extending the Housing and Construction Grant and securing partial Stamp Duty concessions on new apartments from July 2014 until [the end of] June 2016, this policy is a positive step towards stimulating the development sector,&quot; said Mr Angove.&nbsp;</p> <p>This could be a great piece of information to have for those with real estate careers, especially if elderly clients approach you asking about their retirement options in the near future. Providing the best <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_self">real estate advice</a> to people will help you to succeed in the industry.&nbsp;</p> http://www.reisa.com.au/news/grant-for-elderly-downsizing-good-news-for-south-australia http://www.reisa.com.au/news/grant-for-elderly-downsizing-good-news-for-south-australia 27th Feb 14 The benefits of landlords insurance: Protecting your investments <p>For those considering a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate" target="_self">real estate career</a>, it can be useful to know the various perks you can advise your clients about following a successful purchase of a property. For example, if you&#39;re dealing with a lot of investors, it could be worth reading up on landlord insurance and the benefits of having it.&nbsp;</p> <p>Landlords insurance is a great thing to have if you&#39;re a property investor, especially if you have a large property portfolio. Protecting your investments&nbsp;should be a main concern of yours, even if you aren&#39;t actively living in any of&nbsp;the properties or managing them personally.&nbsp;</p> <p>It safeguards against unexpected and unforeseeable&nbsp;events that could damage your properties and potentially leave them uninhabitable and unprofitable.&nbsp;</p> <p><strong>What things are covered by landlord insurance?</strong></p> <p>While these packages can vary between insurance providers, most will cover natural disasters. Things like earthquakes, fires, floods, extreme storm weather and other natural acts that can&#39;t be avoided or prepared for are usually covered by this type of insurance.</p> <p>Furthermore, sometimes these plans can cover profits lost due to sudden loss of tenants. If renters abandon your property and stop paying rent, this will allow you to keep covering&nbsp;any expenses or making any&nbsp;repayments associated with the property while you prepare it for the market again.&nbsp;</p> <p>Of course, the only way to be completely sure of the specific plan is to get in contact with an insurance provider and discuss the options available with the specific landlord. There are a number of circumstances that can influence these decisions.&nbsp;</p> <p>Finally, it could be a good idea to remind tenants to get their own insurance. Your landlord policy doesn&#39;t cover any damage&nbsp;to&nbsp;a tenant&#39;s goods, so bear responsibility of personal insurance.&nbsp;</p> <p>This could be something to keep in mind after successfully purchasing an investment property, when you begin to search for potential tenants.&nbsp;<br /> <br /> REISA&#39;s preferred insurance provider is <a href="https://terrischeer.com.au/" target="_blank">Terri Scheer Insurance.&nbsp;</a></p> http://www.reisa.com.au/news/the-benefits-of-landlords-insurance-protecting-your-investments http://www.reisa.com.au/news/the-benefits-of-landlords-insurance-protecting-your-investments 27th Feb 14 Property management: Could this be right for you? <p>Property managers are an essential part of real estate investment and can help to facilitate the successful development and growth of an investor&#39;s portfolio in order to help increase the overall property worth and wealth in the assets.&nbsp;</p> <p>If you&#39;re considering a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate" target="_self">real estate career</a> in the near future, it could be worth looking into taking a <a class="dnautolink" href="http://www.reisa.com.au/training/property-management-2" target="_self">property management course</a> and getting into an exciting section of the industry.&nbsp;</p> <p>However, before committing to the idea of become a property manager, here is a rundown of their role in facilitating investment properties.&nbsp;</p> <p><strong>What do property managers do?</strong></p> <p>Many people who decide to take up property investment are often busy professionals who are unable to put in the required amount of work needed to successfully operate their&nbsp;investments. Therefore, property managers are real estate professionals who manage&nbsp;portfolios and take care of day-to-day property&nbsp;operations.&nbsp;</p> <p>Being a property manager means helping out with all aspects of the property. You will be helping to find suitable tenants, ensuing that they&#39;re reliable individuals who will be able to pay their rent in full and on time without fail.&nbsp;</p> <p>Furthermore, you will act as a liaison between the landlord and the tenants. This means sound&nbsp;people skills are essential because you need to form relationships with both parties.&nbsp;</p> <p>Another huge benefit of hiring a good property manager is the knowledge that comes along with the role. Being up-to-date on the latest developments with regards to tenant and landlord rights and laws, as well as the overall trends and movements of the real estate market, would be beneficial for any budding manager.&nbsp;</p> <p>Often you will be called upon for advice concerning troublesome tenants or overbearing landlords, and it will be in your best interests to navigate the situation without&nbsp;breaking the law and causing further problems in the future.&nbsp;</p> http://www.reisa.com.au/news/property-management-could-this-be-right-for-you http://www.reisa.com.au/news/property-management-could-this-be-right-for-you 27th Feb 14 Two new property management course dates added <p><strong>IS PAUL MORE POPULAR THAN MADONNA?</strong></p> <p>REISA has recorded a record breaking sell out of its property management update sessions.&nbsp; In the first two weeks of March, REI House will become the Madison Square Garden of Professional Development Training.</p> <p>The property management update session will cover the questions that you wanted answered, revisit the most important areas of change and have an extensive Q and A session.<br /> <br /> <a href="http://www.reisa.com.au/events/event/bite-sized-property-management-legislative-refresher5" target="_self"><strong style="font-size: 1em; line-height: 1.5em;">4 March 6pm-8pm &ndash; LIMITED PLACES LEFT</strong></a></p> <p><strong>5 March 2pm-4pm - SOLD OUT</strong></p> <p><strong>5 March 6pm-8pm &ndash; SOLD OUT</strong></p> <p><strong>6 March 2pm-4pm &ndash; SOLD OUT</strong></p> <p><strong>** NEW DATES ADDED **</strong></p> <p><a href="http://www.reisa.com.au/events/event/bite-sized-property-management-legislative-refresher9" target="_blank"><strong>13 March 10am-12pm &ndash; AVAILABLE NOW</strong></a></p> <p><strong><a href="http://www.reisa.com.au/events/event/bite-sized-property-management-legislative-refresher10" target="_blank">13 March 6pm &ndash; 8pm &ndash; AVAILABLE NOW</a></strong><br /> <br /> <strong style="font-size: 1em; line-height: 1.5em;">Investment</strong><br /> <br /> <span style="font-size: 1em; line-height: 1.5em;">Individual </span>REISA<span style="font-size: 1em; line-height: 1.5em;"> member: $44</span></p> <p>Non member: $66</p> <p><strong>For further details contact:</strong></p> <p>Professional Development Coordinator on 08 8366 4360 or via emailtraining@reisa.com.au</p> <p><a href="http://www.reisa.com.au/training/bite-sized/property-management-update-refresher"><img alt="" src="http://www.reisa.com.au/sb_cache/communications/id/558/f/Fotolia_35527462_M.jpg" style="display: inline-block; width: 250px; height: 90px;" /></a></p> http://www.reisa.com.au/news/two-new-property-management-course-dates-added http://www.reisa.com.au/news/two-new-property-management-course-dates-added 26th Feb 14 The eagle has landed <p><strong>ATTENTION ALL PROPERTY MANAGERS</strong></p> <p>After months of REISA trying to get the answers to your &ndash; and its &ndash; residential property management legislation questions and concerns, REISA now has them all.</p> <p>And the person who has the answers for the Residential Tenancies amending legislation &ndash; which starts on March 1 &ndash; is now open for business.</p> <p>To cope with the demand and to get Paul off the phone from worried property managers, REISA is running four courses NEXT week &ndash; including two night time courses -&nbsp; to go through the outstanding issues, to answer any questions you may have about the new legislation and to ensure that you are the best property managers you can be.</p> <p>Apologies for the night courses interfering with My Kitchen Rules &ndash; but these things cannot be helped.</p> <p><strong>BOOK NOW AND BOOK FAST BECAUSE THESE WILL SELL OUT.</strong></p> <p><strong>Dates</strong></p> <p><strong>Tuesday 4 March, 6-8pm<br /> ​Wednesday 5 March, 2-4pm&nbsp;<br /> Wednesday 5 March, 6-8pm&nbsp;<br /> Thursday 6 March, 2-4pm</strong></p> <p><strong>Investment</strong></p> <p><strong>Individual REISA member: $44<br /> Non member: $66</strong></p> <p><strong>Contact the Professional Development Coordinator on <a href="tel:08 8366 4360">08 8366 4360</a> or via email training@reisa.com.au</strong></p> <p><a href="http://www.reisa.com.au/training/bite-sized/property-management-update-refresher"><img alt="" src="http://www.reisa.com.au/sb_cache/communications/id/558/f/Fotolia_35527462_M.jpg" style="display: inline-block; width: 250px; height: 90px;" /></a></p> <p>&nbsp;</p> <p>&nbsp;</p> http://www.reisa.com.au/news/the-eagle-has-landed http://www.reisa.com.au/news/the-eagle-has-landed 25th Feb 14 How can the Internet aid your real estate career success? <p>Those working towards a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate" target="_self">real estate career</a> in South Australia can expect to find new, interesting ways of marketing themselves to potential clients, as well as using their&nbsp;imagination to successfully sell&nbsp;these properties in the near future.&nbsp;</p> <p>This could occur&nbsp;a number of ways, with effective use of new social media platforms and the Internet in general being an integral part of many people&#39;s selling techniques these days. There are a number of reasons for this as well.&nbsp;</p> <p>For one, the ease of access to information makes these avenues perfect for conscientious buyers, who are willing to undertake their own market research ahead of approaching a market expert. Fostering an engaging online persona could be a great way to get ahead of the game, showing a proactive attitude towards providing unbiased, accurate information to engage with.&nbsp;</p> <p>Furthermore, this doesn&#39;t just mean having a Facebook&nbsp;page or Twitter feed. Marketing yourself through video is also an increasingly popular method for people of all professions. Engaging with video and audio can help to foster feelings of familiarity and trust - two things that people are always seeking when it comes to getting sound <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_self">real estate advice</a>.&nbsp;</p> <p>An example of this was&nbsp;Andrea Kyriacou, a real estate agent for&nbsp;MichaelKris Real Estate in South Australia, who created a hip hop music video to help sell a property in South Australia. The benefit of this was huge, with the video going viral and receiving over 9,000 views overnight - a fantastic result for a property listing.&nbsp;</p> <p>Utilising social media to initiate a soft sell is another benefit, with people more likely to come back again if they feel they&#39;ve developed a relationship with their real estate agent. This comes from having concise, open dialogue with potential clients through your online presence.&nbsp;</p> <p>If they approach you and feel in control of the situation, you can help to increase your chance&nbsp;of success.&nbsp;</p> http://www.reisa.com.au/news/how-can-the-internet-aid-your-real-estate-career-success http://www.reisa.com.au/news/how-can-the-internet-aid-your-real-estate-career-success 25th Feb 14 RP Data: Real estate agent activity increased during January <p>A recent RP Data Research blog post has highlighted an increasing degree of activity&nbsp;for real estate agents across the nation, which could be great news for those considering <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate" target="_self">real estate training</a> in the coming years.&nbsp;</p> <p>In fact, the RP Data Listing Index (RLI) is currently tracking at record levels after a seasonal slump in activity, which could highlight an increasing market strength - one that is only expected to continue upwards as more and more people respond to the low&nbsp;official cash rate and continue taking up&nbsp;home loans in the near future.&nbsp;</p> <p>There were over 65,000 incidences of market activity recorded over the 28 days ending February 9, which is a record last seen in&nbsp;January 2009. This could be encouraging news for those working towards real estate careers.</p> <p>In Adelaide alone, the supply has been recorded as tight. An average of 1,880 listings per month&nbsp;have been recorded over the last year, while the sales rate rested at 2,240. This is great news for sellers of property, with the increased buyer demand being facilitated by ideal economic conditions and the expected national&nbsp;population boom over the next few years.</p> <p>Tim Lawless, head of the RP Data Research team, said there was an expected increase in properties being put on the market as the nation heads into autumn.&nbsp;</p> <p>&quot;Prospective vendors are likely to be confident considering the current housing market conditions are mostly favouring sellers rather than buyers - putting it simply, it&#39;s a great time to be selling a property,&quot; said Mr Lawless in a February&nbsp;14 blog post.&nbsp;</p> <p>This could be great news for anyone currently doing <a class="dnautolink" href="http://www.reisa.com.au/training/training" target="_self">real estate courses</a>, or those considering it for their future. It&#39;s great news to see the nation&#39;s real estate market turning around, with the prospect of further growth extremely likely on the horizon.&nbsp;</p> http://www.reisa.com.au/news/rp-data-real-estate-agent-activity-increased-during-january http://www.reisa.com.au/news/rp-data-real-estate-agent-activity-increased-during-january 19th Feb 14 Medium density property approvals increase in South Australia <p>Medium density properties,&nbsp;notably&nbsp;apartments, townhouses and semi-detached homes, saw an increase in approvals during 2013 in South Australia, which could be great news for those interested in purchasing investment properties in the&nbsp;state.&nbsp;</p> <p>The latest Housing Density Report from Bankwest&nbsp;found there were&nbsp;24.5 per cent of housing approvals across the region during the last 12 months&nbsp;- an increase from 19.7 per cent duirng 2012. This could be due to the increasing population being seen across the nation, with many people turning towards smaller apartments for accommodation in the future.&nbsp;</p> <p>Some great <a href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_blank">real estate advice</a> could be to purchase these properties at the moment, ahead of the incoming population boom expected to grip the nation over the coming years, allowing investors to bolster their property portfolios and cement a place in the growing market.&nbsp;</p> <p>&quot;Australians&#39; appetite for medium density housing is steadily outstripping stand-alone homes. Smaller housing options continue to increase in popularity as the population grows and consolidates around Australia&#39;s capital cities,&quot; said&nbsp;Bankwest Executive General Manager Mark Reid in a February 18 statement.&nbsp;</p> <p>Nationally, the trend has been similar. Since 1985, the proportion of medium density dwelling approvals have annually averaged 30.6 per cent of the total new housing approvals. However, this figure jumped to 40.1 per cent over the last two years, signalling a returning strength to the unit market in Australia.&nbsp;</p> <p>Over the last year, capital cities accounted for 87.1 per cent of the total medium density approvals seen across the country, with regional areas making up the last 12.9 per cent.</p> <p>Adelaide alone was responsible for 97.5 per cent of the medium density approvals in South Australia, reinforcing the idea of an increasing population in metropolitan centres&nbsp;throughout Australia.&nbsp;</p> <p>This could be great news for potential investors looking into South Australia as a potential investment opportunity, especially in the capital city area.&nbsp;</p> http://www.reisa.com.au/news/medium-density-property-approvals-increase-in-south-australia http://www.reisa.com.au/news/medium-density-property-approvals-increase-in-south-australia 19th Feb 14 State government invests in schooling redevelopment <p>South Australia&#39;s state government has successfully chosen the recipients of two major school infrastructure&nbsp;projects, which are a part of a $337 million commitment to help develop the state&#39;s education sector.&nbsp;</p> <p>Local company A J Chappell Pty Ltd has been chosen to undertake the $4.2 million upgrade of Windsor Gardens Vocational College.&nbsp;Education and Child Development Minister Jennifer Rankine&nbsp;said the redevelopment would include - but wasn&#39;t limited to - new classrooms that will &quot;replicate a typical work place&quot;.&nbsp;</p> <p>&quot;The College helps young people, including those who have returned to school to pursue their&nbsp;chosen education, training and employment pathway,&quot; said Ms Rankine in a February 14 statement.&nbsp;</p> <p>Furthermore, a new complex will be made for state-of-the-art music facilities, modern classrooms and a new technology studies section, with the aim of helping South Australian students strive towards their potential.&nbsp;</p> <p>&quot;By expanding the College we are helping 530 students to develop the skills to prepare for the rest of their lives,&quot; said Ms Rankine.&nbsp;</p> <p>Furthermore,&nbsp;ISIS Group Australia Pty Ltd has received the contract to deliver the third stage of a $17.95 million redevelopment of Marryatville High School, which includes the refurbishment of the buildings, as well as the construction of additional car parks. These changes are being made to accommodate an additional 200 students, including a new science area and student services area.&nbsp;</p> <p>Transport and Infrastructure Minister Tom Koutsantonis said the state&#39;s commitment to infrastructure development was working towards building a stronger South Australia, which he describes as a win-win situation.&nbsp;</p> <p>&quot;We are building better public schools for our children while also providing opportunities for local contractors to bid for work, boosting the economy and creating jobs for South Australians,&quot; said Mr Koutsantonis in a February 14 statement.&nbsp;</p> <p>&quot;Currently we have 117 school infrastructure projects underway, which are generating around 2000 jobs.&quot;&nbsp;</p> <p>These types of building developments may help encourage future investment in the region, which could benefit those&nbsp;taking <a href="http://www.reisa.com.au/training/training" target="_blank">real estate courses</a> to further&nbsp;their careers in the industry.&nbsp;</p> http://www.reisa.com.au/news/state-government-invests-in-schooling-redevelopment http://www.reisa.com.au/news/state-government-invests-in-schooling-redevelopment 13th Feb 14 REISA continues its Gold Medal streak <p>As you are aware, after 1 March, real estate practitioners would have been required to supply the complete Form 1 (vendor&rsquo;s statement) irrespective of the relevancy of particular items therein.</p> <p>This change would have required the delivery of well over 70 pages to a purchaser.</p> <p>REISA lobbied the Government hard to reverse this decision and to restore our members&rsquo; ability to omit non-applicable items.</p> <p>The Government has agreed and REISA thanks it for its understanding and commitment to ensuring that real estate business is conducted as efficiently and effectively as possible.</p> <p>Therefore members will &ndash; as before &ndash; have the choice of:</p> <ol><li>Supplying only those items required to be included in the Form 1, or</li> <li>Supplying the entire Form 1 whether the particular items are applicable or not.</li> </ol> <p>This is another tremendous touchdown from REISA and once again, a resounding acknowledgement of our status as the voice of real estate in South Australia.</p> http://www.reisa.com.au/news/reisa-continues-its-gold-medal-streak http://www.reisa.com.au/news/reisa-continues-its-gold-medal-streak 13th Feb 14 A better year <p>REISA has released its December 2013 Market Update for both metropolitan and regional areas of South Australia.</p> <p>It is good to see that the real estate market has ended 2013 on a positive note and that increased sales, less time on market and less vendor discounting have all been features of the past year.</p> <p>REISA looks forward to the momentum carrying through to the rest of 2014 as buyers return to the market.</p> <p><a href="http://www.reisa.com.au/documents/item/719" target="_blank">Click here to view the December 2013 update.</a></p> http://www.reisa.com.au/news/a-better-year http://www.reisa.com.au/news/a-better-year 13th Feb 14 REISA calls for change <p>As we approach the State election, REISA has been busy on your behalf in its efforts to ensure that the law makers are aware of the toll that property taxation is taking upon the industry.</p> <p>REISA has advocated for the reform of stamp duty and land tax for some time and will not cease in its efforts to bring about some level of change that will have benefit to both industry and consumers.</p> <p>Property taxation is a huge issue and REISA&rsquo;s 2013 membership survey made it quite clear that it is the number one issue for you as well.</p> <p>To keep you informed of our advocacy efforts, REISA will be adding its media releases to the In the Media section of the REISA website.</p> <p><a href="http://www.reisa.com.au/newsmedia/media-releases" target="_self">Click here to view REISA&rsquo;s media releases online.</a></p> http://www.reisa.com.au/news/reisa-calls-for-change http://www.reisa.com.au/news/reisa-calls-for-change 12th Feb 14 South Australian social housing project delivers more homes and jobs <p>A new social housing development is set to begin in Adelaide&#39;s northern suburbs, in order to help provide housing for those South Australian&#39;s who need it the most. This could be great news for the region in general, in order to help increase the quality of life for those residents living in the area.&nbsp;</p> <p>Minister for Social Housing Tony Piccolo attended an event yesterday (February 11) that marked the beginning of construction for Junction Housing&#39;s &#39;Vibrant North&#39; project. This will provide 36 new homes across a number of suburbs, which will aid people who are seeking accommodation in the capital city&#39;s north suburbs.</p> <p>&quot;We are committed to growing the level of social and affordable housing in South Australia,&quot; said Mr Piccolo in a February 11 statement.&nbsp;</p> <p>&quot;This project has been made possible through the South Australian Government&#39;s $20 million stimulus package for community housing, which aims to stimulate jobs within the construction sector and deliver more than 120 new homes across the state.&quot;&nbsp;</p> <p>This particular development has been supported by more than $5 million being put towards it by the state government, a considerable investment in helping to house vulnerable South Australians.&nbsp;</p> <p>The properties will be built in&nbsp;Andrews Farm, Smithfield Plains, Munno Para and Davoren Park. Those eligible for the homes will be those who are most in&nbsp;need - individuals who are subjected to domestic violence, living with disabilities, or are&nbsp;at risk of homelessness.&nbsp;</p> <p>The project&nbsp;should&nbsp;be completed by the end of August, which is when people are expected to be able to move into the properties.&nbsp;</p> <p>If you&#39;d like to help someone you know secure a safer living situation, get in contact with RESIA.&nbsp;There are a number of <a class="dnautolink" href="http://www.reisa.com.au/training/training" target="_self">real estate courses</a> and careers that can be pursued, which make a difference to people each and every day.</p> http://www.reisa.com.au/news/south-australian-social-housing-project-delivers-more-homes-and-jobs http://www.reisa.com.au/news/south-australian-social-housing-project-delivers-more-homes-and-jobs 12th Feb 14 Slower growth in owner-occupied market <p>The Real Estate Institute of Australia (REIA) says the latest housing finance figures released by the Australian Bureau of Statistics (ABS) show, in trend terms, the slowest growth of the owner-occupied market for the last twelve months to December 2013.</p> <p>Housing finance figures for December 2013 show, in trend terms, that the number of owner-occupied finance commitments rose by 0.3%, following increases of 0.5% in October and November. This is the lowest monthly increase, in trend terms, since December 2012.</p> <p>If refinancing is excluded, in trend terms for December, the number of owner-occupied finance commitments increased by 0.6%.</p> <p>REIA President, Peter Bushby says, &ldquo;Increases were recorded in New South Wales, Queensland, Western Australia and Tasmania, with New South Wales having the biggest rise, up 1.0%. The Northern Territory&rsquo;s fall of 2.0% was the country&rsquo;s largest.&rdquo;</p> <p>&ldquo;In trend terms, the number of commitments for the construction of new dwellings climbed 1.1% and the purchase of established dwellings went up 0.3%,&rdquo; Mr Bushby continued. &ldquo;However the purchase of new dwellings fell by 1.1%.&rdquo;</p> <p>Investors continue their strong presence on the market with the value of investment housing commitments increasing 3.0%, in trend terms in December, resulting in almost three years of consecutive monthly increases.</p> <p>&ldquo;The proportion of first home buyers in the number of owner/occupied housing finance commitments rose from its historically lowest point of 12.3% in November 2013 to 12.7% in December 2013. The figure is alarmingly lower than the long-run average proportion of 19.9%, despite eight interest rate cuts since November 2011.&rdquo;</p> <p>&ldquo;December 2013 results highlight the need for Government to act on housing affordability and to stem the rapid decline in the number of first home buyers,&rdquo; concluded by Bushby.</p> http://www.reisa.com.au/news/slower-growth-in-owner-occupied-market http://www.reisa.com.au/news/slower-growth-in-owner-occupied-market 11th Feb 14 Support for South Australia's homeless through development funding <p>A new apartment complex development has begun in Adelaide&#39;s central business district, which will be used to help provide support for South Australians&nbsp;who are either homeless, or at risk of becoming homeless in the near future.&nbsp;</p> <p>The work began today (February 10) on the new Common Ground&#39;s seven storey complex on Mellor Street, after Minister for Social Housing Tony Piccolo attended a ceremony that marked the beginning of the work.&nbsp;</p> <p>&quot;The Common Ground model was first brought to Australia by the South Australian government, and represents a more contemporary approach to the issue of homelessness,&quot; said Mr Piccolo in a February 10 statement.&nbsp;</p> <p>&quot;As well as providing shelter and a place to live, Common Ground helps link people who are homeless or at risk of homelessness to the other services they need to help turn their lives around.&quot;&nbsp;</p> <p>In the facility, tenants will have access to a wide range of services, including health care, development programs, and other training opportunities, which will help&nbsp;them to get back on their feet and provide invaluable skills needed to enter into the workforce and turn their lives around.&nbsp;</p> <p>Mr Piccolo went on to state that South Australia has the highest number of people who can come back from homelessness and successfully rehabilitate themselves back into independent housing, as well as having the lowest proportion of those who fall back into homelessness by offering strong education and <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_self">real estate advice</a>.&nbsp;</p> <p>&quot;That&#39;s because we&#39;re investing in innovative approaches to homeless support services like Common Ground, which make a real difference in the lives of disadvantaged South Australians,&quot; said Mr Piccolo.&nbsp;</p> <p>The new Common Ground&#39;s development saw South Australia&#39;s government put forward $2.8 million, which will feature 13 two bedroom spaces and&nbsp;39 one bedroom spaces&nbsp;- including&nbsp;three disability accessible units. Half of these rooms will be made available to those with low incomes, while the other half will be provided for those who were either already homeless or were running a high risk of becoming so.&nbsp;</p> http://www.reisa.com.au/news/support-for-south-australias-homeless-through-development-funding http://www.reisa.com.au/news/support-for-south-australias-homeless-through-development-funding 5th Feb 14 Increasing capital city values good news for real estate industry <p>The latest RP Data-Rismark Home Value Index report found an overall increase in the value of capital city properties over the last 12 months, which could be great news for those with real estate careers or anyone undertaking <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a>.</p> <p>According to the report, there has been an overall value increase of 2.7 per cent over the last three months ending in January and overall growth of 13.2 per cent since the beginning of the current growth cycle, which started in June 2012.</p> <p>Furthermore, capital city prices are now 4.8 per cent higher than their previous peak in October 2010, indicating a return to a strong real estate market across the nation.</p> <p>With regards to South Australia, Adelaide experienced a 1.6 per cent increase in property values during the last three months, with 2.5 per cent growth over the last year.</p> <p>RP Data Research Director Tim Lawless said this growth is likely to dampen any thoughts towards the Reserve Bank of Australia&#39;s (RBA) decision to raise the official cash rate.</p> <p>&quot;Together with the higher than expected inflation reading and a lower Aussie dollar, the sustained growth in dwelling values is another factor the RBA is likely to consider when deliberating on any movement in the cash rate,&quot; said Mr Lawless in a February 3 statement.</p> <p>Furthermore, Rismark&#39;s Chief Executive Officer Ben Skilbeck said that an increase in positive consumer sentiment was leading to this growth across the nation.</p> <p>&quot;Growth in outstanding housing borrowings has increased meaningfully from its lows. Most noticeable is investor borrowing which for the calendar year 2013 grew by 7 per cent compared to 3 per cent in 2011,&quot; said Mr Skilbeck in a February 3 statement.</p> http://www.reisa.com.au/news/increasing-capital-city-values-good-news-for-real-estate-industry http://www.reisa.com.au/news/increasing-capital-city-values-good-news-for-real-estate-industry 3rd Feb 14 Government must boost first home buyers & affordability <p>In its pre-budget submission, the Real Estate Institute of Australia (REIA) has urged the Government to act on housing affordability and to stem the rapid decline in the number of first home buyers.<br /> <br /> REIA President, Peter Bushby says, &ldquo;We want to see a marked improvement in the standards of delivery of vocational education and adequate data on the supply/demand imbalance of housing for informed decision-making by policy makers and stakeholders.&rdquo;<br /> <br /> &ldquo;REIA&rsquo;s 10 proposals are aimed at contributing to Australia&rsquo;s continuing economic development and productivity.&rdquo;<br /> <br /> In preparing 2014/15 Budget, REIA seeks the Commonwealth Government&rsquo;s consideration of the following:<br /> <br /> &bull; Ensure the availability of reliable data on housing demand and supply to formulate appropriate policies and to monitor their effectiveness<br /> <br /> &bull; All states and territories uphold the initial intent of the Intergovernmental Agreement in Federal Financial Relations Schedule A, that assistance to first home buyers will be &ldquo;uniform&rdquo; and that &ldquo;an eligible home will be new or established&rdquo;<br /> <br /> &bull; Review the amount of the First Home Owner Grant annually to maintain relativity with house price movements<br /> <br /> &bull; Allow first home buyers access to their superannuation for the purchase of a home<br /> <br /> &bull; Retention of current arrangements for negative gearing of property investments<br /> <br /> &bull; No increase in Capital Gains Tax on property investments<br /> <br /> &bull; Abolish stamp duty on property transactions in favour of an efficient source of revenue for states and territories<br /> <br /> &bull; Improve the supply of housing for social housing tenants transitioning to private rental by utilising private investment<br /> <br /> &bull; Monitor HAF and NRAS to observe its effects on housing supply and to conduct a review which considers additional measures to bridge the demand/supply imbalance<br /> <br /> &bull; Ensure the Australian Skills Quality Authority (ASQA) funding is adequate to ensure nationally approved quality standards are met for vocational education and training.<br /> <br /> REIA&rsquo;s pre-budget submission can be <a href="http://www.reia.com.au/userfiles/PRE%20BUDGET%20SUBMISION%202014-15.pdf" target="_blank">found here.</a></p> http://www.reisa.com.au/news/government-must-boost-first-home-buyers-affordability http://www.reisa.com.au/news/government-must-boost-first-home-buyers-affordability 31st Jan 14 New home sales rise for first time in 5 years <p>People throughout SA and other parts of the country were keen to buy new properties at the end of last year, bringing good news to those in real estate careers.<br /> <br /> South Australia proved no exception, as figures from the Housing Industry Association (HIA) show private detached house sales increased 50.9 per cent throughout the state during the final quarter.<br /> <br /> This was considerably higher than other areas, including Queensland (12.3 per cent), New South Wales (3.5 per cent) and Western Australia (2.3 per cent).<br /> <br /> HIA economist Diwa Hopkins noted that new home sales hit a serious low in 2012, but a strong recovery last year led to the greatest rise since 2008.<br /> <br /> The challenge now is to ensure this success continues into 2014, bringing support to the wider property market and economy as a whole.<br /> <br /> The property market may not be on a complete winning streak just yet, as the HIA New Home Sales report showed a 0.4 per cent easing in seasonally adjusted home sales in December 2013.<br /> <br /> This was primarily led by a 6.6 per cent fall in multi-unit sales, while detached housing transactions increased 0.9 per cent throughout the month.<br /> <br /> However, during the month as a whole, new home sales experienced a rise of 14.4 per cent.<br /> <br /> Strength in the South Australian property market was recently highlighted by the RP Data-Rismark Home Value Index for December last year, which showed a 1.4 per cent rise in prices.<br /> <br /> The year was split into two halves, explained Cameron Kusher from RP Data, with property values increasing 3 per cent during the first six months and 6.6 per cent over the latter part of the year.</p> http://www.reisa.com.au/news/new-home-sales-rise-for-first-time-in-5-years http://www.reisa.com.au/news/new-home-sales-rise-for-first-time-in-5-years 29th Jan 14 Steady CPI points to stable interest rates <p>The December 2013 quarter Consumer Price Index (CPI) figures show that the Reserve Bank of Australia&rsquo;s (RBA) consumer price measures of inflation continue to be stable and are well within their target zone.</p> <p>Real Estate Institute of Australia (REIA) President, Mr Peter Bushby, says the RBA should maintain the current level of interest rates.</p> <p>&quot;In the December quarter, the consumer price index rose by 0.8% and annual inflation rate is now 2.7%. These figures are well within the RBA&rsquo;s target zone of 2-3%,&quot; Mr Bushby said.</p> <p>The analytical series of trimmed mean and weighted median both increased by 0.9% for the December quarter 2013.</p> <p>&quot;The annual changes for the trimmed mean and for the weighted median were 2.6% for both and compare to the changes for the twelve months to the September quarter 2013 of 2.3% and 2.4% respectively,&quot; Mr Bushby said.</p> <p>The housing group increased by 0.5% for the December quarter compared to 2.0% in the September 2013 quarter, making the annual rate of increase 4.3%.</p> <p>The main increases in the December quarter for the housing group was the purchase of new dwellings which increased by 1.0%. For the year to December 2013, the largest increases in the housing group were for water and sewerage (9.3%), property rates and charges (7.9%) and electricity (6.3%). Rents increased by 3.0% for the year.</p> <p>&quot;With inflation well under control and a subdued economy, it&rsquo;s appropriate that the RBA Board maintains interest rates at their present level when it meets in February for the first time this year,&quot; Mr Bushby concluded.</p> http://www.reisa.com.au/news/steady-cpi-points-to-stable-interest-rates http://www.reisa.com.au/news/steady-cpi-points-to-stable-interest-rates 28th Jan 14 REISA scores another touchdown <p>Fresh from our success in 2013 with the legislative reforms, REI FormsNow, national licensing and record breaking professional development, REISA has scored another massive win for its members.</p> <p>Last year, REISA tirelessly lobbied the Government to have the exemption for real estate transactions removed from the Electronic Transactions Act.</p> <p>Under this legislation, real estate transactions could not be prepared or finalised electronically.</p> <p>However, we believed &ndash; as did our members &ndash; that in today&rsquo;s age of an increasing paperless society, it was ridiculous that every real estate transaction had to be written and signed in a hard copy format.</p> <p>I am delighted that the State Government has accepted REISA&rsquo;s submission and agreed that the exemption for real estate transactions be removed.</p> <p>The benefits to industry and consumers will be enormous.&nbsp;&nbsp; Agents and consumers will now save significant time and resources and have the undoubted convenience of conducting business electronically.</p> <p>As you are aware, REISA&rsquo;s new REI FormsNow platform is now operating at full steam and with a click of a button, this decision of the State Government can be implemented as soon it is finalised.</p> <p>While there is still a process to be undertaken with this decision, REISA will keep you updated with any future developments.</p> <p>2014 is shaping up to be another bumper year for REISA.</p> http://www.reisa.com.au/news/reisa-scores-another-touchdown http://www.reisa.com.au/news/reisa-scores-another-touchdown 26th Jan 14 SA Government to support workers affected by Holden closure <p>Real estate agents in South Australia may be pleased to know the state government has agreed to help workers impacted by the closure of a Holden manufacturing factory.<br /> <br /> The government has committed to creating more jobs for SA residents, highlighting this as a current priority. Stable economies tend to attract more confident real estate investors and stabilise market conditions, so the government&#39;s commitment may come as good news to agents in the region.<br /> <br /> Premier Jay Weatherill explicitly expressed his support following the news of Holden&#39;s closure and said he would be taking the matter to Prime Minister Tony Abbott. He added that he was confident the state would overcome this minor setback.<br /> <br /> &quot;South Australians have always demonstrated their enormous resilience in the face of adversity. We will face this challenge, we will overcome it and we will emerge stronger,&quot; Mr Weatherill asserted.<br /> <br /> SA Unions is also calling on the federal government to follow Mr Weatherill&#39;s lead and look to what can be done to foster employment growth in the state.<br /> <br /> Announcements such as the Holden manufacturing closure do not only challenge those directly impacted, such as employees, but also a range of other businesses in the state.<br /> <br /> In the face of challenges to property market stability, it is important that real estate agents are trained to a very high standard and have excellent sales skills.<br /> <br /> Knowing how to market real estate in times of uncertainty can separate a good agent from a great one.<br /> <br /> Why not use this time as an opportunity to brush up on your real estate skills? REISA offers a wide range of <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a> courses that can bring you up to speed and help you improve your overall business approach.</p> http://www.reisa.com.au/news/sa-government-to-support-workers-affected-by-holden-closure http://www.reisa.com.au/news/sa-government-to-support-workers-affected-by-holden-closure 24th Jan 14 SA mulls new home building protections <p>The South Australian government is asking people for their views on new regulations, which would safeguard anyone seeking to build or renovate their homes.<br /> <br /> The measures, which may affect homeowners from all over the state, are being considered as private insurers were withdrawn from the state&#39;s building indemnity insurance market last year.<br /> <br /> State finance minister Michael O&#39;Brien explained how the government took over the management of building indemnity insurance to ensure consumers could still access the protection they need.<br /> <br /> &quot;In South Australia, any building project with a value of $12,000 or more and requiring council approval must have a building indemnity insurance policy in place before work can begin,&quot; he noted.<br /> <br /> Anyone offering guidance on <a class="dnautolink" href="http://www.reisa.com.au/membershipinformation/membership">real estate law</a> in South Australia will no doubt be aware of this fact and will need to make sure their clients are too.<br /> <br /> Recent changes to the market mean now is the right time to consider this issue and determine what building protections need to be put in place to offer assistance to South Australians.<br /> <br /> Building indemnity insurance is designed to support consumers should their builder die, disappear or become insolvent at any point during their contract.<br /> <br /> Undertaking such a large-scale investment means people want to feel they have the greatest protection possible should the build or renovation work suddenly go awry.<br /> <br /> The government announced it will be giving consideration to whether there could still be a role for private insurance providers in the near future, especially if they are going to offer homeowners peace of mind.<br /> <br /> The review can be accessed online and a public forum is also being hosted on the SA government website where people can discuss and put forward their views.<br /> <br /> Anyone with an interest in the issues is encouraged to head online and make their opinions known.<br /> <br /> &nbsp;</p> http://www.reisa.com.au/news/sa-mulls-new-home-building-protections http://www.reisa.com.au/news/sa-mulls-new-home-building-protections 23rd Jan 14 Real estate agents could capitalise on sustainability trend <p>As demand for sustainable housing goes up, real estate agents are in a good position to promote the benefits of environmentally friendly features such as solar panels and rainwater tanks.<br /> <br /> According to the Australian Institute of Architects&#39; housing and inspection design service, Archicentre, sustainable homes are not just practical - they are also a lucrative investment opportunity.<br /> <br /> Archicentre General Manager Cameron Frazer recently highlighted the benefits of sustainable housing in a public statement.<br /> <br /> &quot;The rising costs of energy and water means green design has now turned into a substantial money-making investment and a lifestyle trend,&quot; Mr Frazer said.<br /> <br /> &quot;This trend is often used by real estate agents to promote the home&#39;s sustainability with the rainwater tank or bank of solar panels as a major advantage when homes are sold.&quot;<br /> <br /> Mr Frazer went on to add that sustainable housing could save investors and home owners &quot;thousands of dollars in the future&quot;, especially in the face of increasing energy and water prices.<br /> <br /> Real estate agents looking to capitalise on this trend and promote energy efficient homes may want to conduct research into what makes a property sustainable.<br /> <br /> According to Mr Frazer, homes that offer true cost savings need to be designed to a high standard, taking into account the many different factors that influence sustainability.<br /> <br /> &quot;This [is] not about new products, or five or six star ratings, it is about recognising and encouraging the principles of good design combined with environmental excellence and governance,&quot; he explained.<br /> <br /> &quot;The key to year-round comfort is passive solar design, which carefully combines materials, methods, building form and the sun&#39;s natural energy to help keep the house cool in summer and warm in winter.&quot;<br /> <br /> If you are interested in getting your <a href="http://www.reisa.com.au/training/home-sustainability-2" target="_blank">Certificate IV in Home Sustainability Assessment</a>, call REISA Training on 8366 4360 or email <a href="mailto:training@reisa.com.au. ">training@reisa.com.au.&nbsp;</a><br /> &nbsp;</p> <p>REISA offers a variety of <a class="dnautolink" href="http://www.reisa.com.au/training/property-management-2">property management courses</a> that are an excellent way to expand your professional development and career options.</p> http://www.reisa.com.au/news/real-estate-agents-could-capitalise-on-sustainability-trend http://www.reisa.com.au/news/real-estate-agents-could-capitalise-on-sustainability-trend 22nd Jan 14 Moderate property price growth for Adelaide <p>There was plenty of good news for the national property market last year, especially during the second half when dwelling prices experienced some impressive rises.<br /> <br /> The RP Data-Rismark Home Value Index results for December 2013 showed home values across the capitals increased 1.4 per cent during the last month of the year alone.<br /> <br /> This followed a fourth quarter rise of 2.8 per cent, showing that confidence is returning to the property market as a whole - including in South Australia.<br /> <br /> RP Data&#39;s Cameron Kusher explained how 2013 emerged as a year of two halves, as property value increased 3 per cent during the first six months and 6.6 per cent during the second.<br /> <br /> Each capital city recorded positive home value growth throughout the year, with Adelaide&#39;s proving comparatively moderate compared to some other parts of the country.<br /> <br /> House prices in the South Australian capital increased 3 per cent over the course of the year, while unit values experienced a 0.6 per cent lift, which may influence the <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> given to potential investors.<br /> <br /> Over the course of the past year there has been no change to gross rental yields for houses, which have remained at 4.3 per cent.<br /> <br /> Unit rental yields, on the other hand, have increased slightly from 4.8 per cent in 2012 to 4.9 per cent the following year.<br /> <br /> Mr Kusher said these figures need to be analysed in context - although annual value growth is at its strongest since 2009, the rate may not be as impressive as it first seems. This is due to the low interest rate environment and the previous years when home values declined.<br /> <br /> The expert noted: &quot;Although home values increased by 9.8 per cent in 2013 the growth follows a -3.8 per cent annual fall in values in 2011 and a further -0.4 per cent annual fall in 2012.<br /> <br /> &quot;Cumulatively, from peak to trough, capital city dwelling values were down 7.7 per cent prior to this current growth cycle.&quot;<br /> <br /> &nbsp;</p> http://www.reisa.com.au/news/moderate-property-price-growth-for-adelaide http://www.reisa.com.au/news/moderate-property-price-growth-for-adelaide 22nd Jan 14 Share your industry knowledge <p>Undertaking training and developing your skills is a great way to develop your career prospects, increase your productivity and assist others in your workplace.</p> <p>Train to become a fully qualified vocational trainer and assessor with&nbsp;REISA.</p> <p>REISA&nbsp;is currently delivering training in&nbsp;TAE40110&nbsp;Certificate IV in Training and Assessment which will enable individuals to deliver training and to conduct competency based assessment in the Real Estate industry (or another industry area in which they have expertise).&nbsp; The program aims to provide program participants with the skills to confidently train groups or individuals and to meet regulatory requirements.</p> <p>The Certificate IV units successfully completed will lay a foundation for the successful graduates to progress onto diploma level qualification such as the Diploma of Vocational Education &amp; Training and/or Diploma of Training Design and Development, should they wish.&nbsp;</p> <p><strong>Career Opportunities for those who successfully complete&nbsp;TAE40110&nbsp;Certificate IV in Training and Assessment could include:</strong></p> <ul><li>Enterprise trainer</li> <li>Enterprise assessor</li> <li>Registered training organisation (RTO) trainer</li> <li>RTO&nbsp;assessor</li> <li>Training adviser or training needs analyst</li> <li>Vocational education teacher</li> </ul> <p><strong>What you will learn on the&nbsp;REISA&nbsp;program for&nbsp;TAE40110&nbsp;Certificate IV in Training and Assessment includes:</strong></p> <ul><li>Plan, organise and facilitate training sessions within a workplace</li> <li>Support and monitor learning</li> <li>Conducting work according to National Vocational Regulatory (NVR) standards and organisational quality assurance policies and procedure</li> <li>Use available information and documentation to identify individual learner needs and characteristics</li> <li>Review complete learning&nbsp;programs&nbsp;with key stakeholders and adjust as required</li> </ul> <p><strong>To successfully complete&nbsp;TAE40110&nbsp;Certificate IV in Training and Assessment you will need to have access to:</strong></p> <ul><li>Workplace and vocational learners</li> <li>Computer</li> <li>Appropriate environment and facilities for delivery of training and to conduct assessments<br /> &nbsp;</li> </ul> <p><strong>Investment of time and funds</strong></p> <p>The&nbsp;TAE40110&nbsp;Certificate IV in Training and Assessment will be delivered once a week over&nbsp; four months and participants are expected to invest between five hours per week to attend workshops, conduct research and complete assessment activities.</p> <p>Your funds investment is $3,200 With an opportunity to stage investment payments over a period to time.</p> <p>Contact&nbsp;REISA&nbsp;Training on 08 8366 4360&nbsp;​or&nbsp;<a href="mailto:training@reisa.com.au?subject=TAE%20Interest">training@reisa.com.au</a>&nbsp;for further information.</p> http://www.reisa.com.au/news/share-your-industry-knowledge http://www.reisa.com.au/news/share-your-industry-knowledge 22nd Jan 14 Professional Development Training <p>PD is shaping up to be a bumper year in 2014.</p> <p>We have listened to all your feedback about what courses we should be offering and we have responded.</p> <p>We have put on new courses dealing with commercial leasing, strata management, prescribed offences and s24G.</p> <p>In addition, we have scheduled many sales and property management legislative refresher courses to make sure you are all as up to date and informed as possible.</p> <p>And we have our old favourites &ndash; sales agency agreements, Form 1 refresher, water invoicing and contracts to settlement.</p> <p><a href="http://www.reisa.com.au/training/professional-development-courses" target="_blank">Click here </a>to see what we have on offer.</p> <p>Be sure to book in fast as spots are already filling up.&nbsp;&nbsp;</p> http://www.reisa.com.au/news/professional-development-training http://www.reisa.com.au/news/professional-development-training 20th Jan 14 Choosing the right home loan for your needs <p>Taking your first steps onto the property ladder can be daunting, especially bearing in mind that a property purchase is often one of the biggest financial commitments most people will ever make.<br /> <br /> While you might be seeking <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> on which property to buy, this is only going to be possible if you have a mortgage offer in place.<br /> <br /> Assessing your finances is as much a part of the buying process as picking a location close to schools and public transport - and with so many mortgage types available, it pays to do your research.<br /> <br /> <strong>Fixed-rate mortgages</strong><br /> <br /> Fixed-rate mortgages have witnessed a popularity surge in recent months, not least because the official cash rate is at an all-time low of 2.5 per cent and experts predict it could rise at any time.<br /> <br /> December 2013 figures from Mortgage Choice show fixed-rate products were favoured by 33.06 per cent of borrowers, up from 30.56 just a month earlier.<br /> <br /> Fixed-rate products are great if you want the certainty of a set mortgage payment each month, making them a popular option if money is tight and you are on a static income.<br /> <br /> <strong>Variable/tracker rate loans</strong><br /> <br /> You might also want to consider a variable rate loan. These track the official cash rate, so you need to be prepared to face additional costs if it happens to increase.<br /> <br /> If you can afford to pay a little more on your mortgage each month then these are worth considering - the rate might, of course, fall further and work in your favour!<br /> <br /> <strong>Interest-only mortgages</strong><br /> <br /> If you choose an interest-only loan, you only pay off the interest on the mortgage for a fixed time.<br /> <br /> While this reduces your repayments for a set period, bear in mind you will not be reducing the balance of the amount you initially borrowed.<br /> <br /> &nbsp;</p> http://www.reisa.com.au/news/choosing-the-right-home-loan-for-your-needs http://www.reisa.com.au/news/choosing-the-right-home-loan-for-your-needs 17th Jan 14 Adelaide remains most affordable capital for renters, report reveals <p>Real estate agents in South Australia may be interested in the findings of the latest Australian Property Monitors Rental Price Series Quarterly Report.<br /> <br /> According to year-on-year data from December 2012 to December 2013, Adelaide is still the most affordable mainland capital city for renters, with the average weekly asking rent currently sitting at $350 for houses and $285 for units.<br /> <br /> In comparison, median weekly asking rents for houses is $500 in Sydney, $400 in Adelaide and $375 in Melbourne. Darwin is the most expensive city overall, with an average weekly rental price of $700.<br /> <br /> Adelaide&#39;s comparatively affordable prices are good for tenants, but landlords are not on the losing side. The report also showed median prices in Adelaide were increasing, with rents rising 2.9 per cent for houses over the December quarter and 1.8 per cent for units.<br /> <br /> This data shows property in Adelaide offers excellent potential for return on investment but is relatively affordable, meaning more people can get a foot onto the property ladder.<br /> <br /> Real estate agents may want to share this data with buyers and sellers alike, helping them to gain a better understanding of the current property market and calculate their budget accordingly.<br /> <br /> By providing <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> to clients, you increase their chance of finding property market success and therefore potentially boost your commission.<br /> <br /> Not simply a sales role, real estate agents often play the part of adviser and are trusted to have in-depth, relevant local market knowledge.<br /> <br /> To continue fine-tuning your skills, why not attend a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a> course or increase your knowledge in the area of <a class="dnautolink" href="http://www.reisa.com.au/membershipinformation/membership">real estate legislation</a>?<br /> <br /> REISA offers a range of useful courses and training modules that can help you become a better agent in no time.</p> http://www.reisa.com.au/news/adelaide-remains-most-affordable-capital-for-renters-report-reveals http://www.reisa.com.au/news/adelaide-remains-most-affordable-capital-for-renters-report-reveals 17th Jan 14 Renewed optimism for SA property market <p>The South Australian property market may have experienced some ups and downs over recent months, but new data suggests it could finally be on the right track.<br /> <br /> The Property Council/ANZ Property Industry Confidence Survey for the first three months of 2014 shows there is increased optimism ahead of the state election in March.<br /> <br /> Industry confidence in the state has reached 130 index points, up from 114 in December. This not only paints a better picture for South Australia, but also the national property market as a whole.<br /> <br /> The national reading on the index increased from 132 in the December quarter to 140 in the first three months of this year, which has largely been buoyed by low interest rates.<br /> <br /> Not only this, those with <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a> are also likely to have witnessed a rise in both residential and commercial investment as buyers start to return to the sector.<br /> <br /> The residential property market continued to strengthen during the second half of 2013, the data showed, as auction clearance rates, home sales, house prices and dwelling approvals all rose.<br /> <br /> Population gains across many parts of the country have led to increased pressure on supply, while a shortage of housing will lead to upward pressure on prices, rents and building activity.<br /> <br /> March quarter predictions anticipate ongoing improvement in housing market sentiment, with house prices and residential building activity expected to rise to record levels.<br /> <br /> Experts were keen to play down the possibility of a housing bubble. Although strong house price gains are often indicative of this situation, improved housing affordability and the release of pent-up sales will hopefully ensure this situation doesn&#39;t arise.<br /> <br /> In light of this, the groups believe a solid pickup in home building activity over the coming year both in South Australia and beyond.</p> http://www.reisa.com.au/news/renewed-optimism-for-sa-property-market http://www.reisa.com.au/news/renewed-optimism-for-sa-property-market 16th Jan 14 Selling property in a heat wave: Real estate tips for agents <p>The property industry in South Australia may be heating up, but so is the weather. The state is currently in the midst of a heat wave, labelled &#39;extreme&#39; by some media reports, and residents are therefore advised to take it easy over the next few days.<br /> <br /> However, for many it will be business as usual, and for real estate agents in particular property deals are still expected to go ahead despite the hot weather.<br /> <br /> In fact, agents may want to use this as an opportunity to advise clients of the benefits of looking for homes that feature sustainable designs, such as solar panels.<br /> <br /> With heat waves becoming a more common occurrence in Adelaide and across South Australia, property investors may find they attract a lot of interest for sustainable homes.<br /> <br /> According to the Energy Supply Association of Australia (ESAA), demand for electricity across the state is expected to reach levels not seen since late January 2011. Earlier this week (January 14), maximum demand for electricity reached 3,046 MW, a figure that could very well rise if the temperatures increase further.<br /> <br /> ESAA chief executive Matthew Warren said the heat was putting pressure on the state&#39;s infrastructure despite an influx of solar panel installations in recent times, suggesting South Australia still has a long way to go before it is home to sustainable energy solutions.<br /> <br /> &quot;The hot weather is back this summer. Even with more solar panels around now, the increased demand from more widespread use of air-conditioners means record electricity demand this week is a real possibility,&quot; Mr Warren said.<br /> <br /> One of the hallmarks of a great real estate agent is the ability to sell property in a variety of challenging circumstances. To improve your skills and boost your sales, why not learn some helpful techniques at a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate agent training</a> course?</p> http://www.reisa.com.au/news/selling-property-in-a-heat-wave-real-estate-tips-for-agents http://www.reisa.com.au/news/selling-property-in-a-heat-wave-real-estate-tips-for-agents 15th Jan 14 New home lending remains steady <p>Last year was an extended period of ups and downs for the Australian property market - a fact that has been echoed through latest home lending approvals data.<br /> <br /> The Australian Bureau of Statistics (ABS) revealed that in November 2013, the number of commitments for owner occupied housing finance increased 0.6 per cent compared to the previous month.<br /> <br /> Meanwhile, the number of loans approved for the construction of dwellings increased 1.1 per cent, as those for the purchase of established properties increased 0.7 per cent.<br /> <br /> Responding to the data, the Housing Industry Association&#39;s senior economist Shane Garrett noted that it paints a positive picture for the property market as a whole.<br /> <br /> He said the figures are not only good news for the industry but also the Australian economy as a whole - construction activity brings potential for jobs growth at a time when it is needed most.<br /> <br /> Anyone who has undergone <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a> will be interested to hear that first home buyers are still keen to enter the market, although they did experience a slight fall between October and November.<br /> <br /> ABS figures show 12.3 per cent of total buyers were making steps onto the property ladder for the first time in November last year, down slightly from 12.6 per cent in October.<br /> <br /> The Real Estate Institute of Australia (REIA) believes more needs to be done to encourage first-time buyers to enter the market, especially in particular parts of the country.<br /> <br /> REIA president Peter Bushby said levels of activity among this group are currently at their lowest since data collection started in 1991 - and below the long-term average of 19.9 per cent.<br /> <br /> &quot;With the number of first home buyers at historically low levels, it&#39;s time for all governments to review support to first home buyers,&quot; he commented.<br /> <br /> &nbsp;</p> http://www.reisa.com.au/news/new-home-lending-remains-steady http://www.reisa.com.au/news/new-home-lending-remains-steady 14th Jan 14 Adelaide sees fall in residential stock listings <p>Adelaide has followed the national trend by experiencing a decline in stock levels last month, the latest data from SQM Research shows.<br /> <br /> The group found listings fell 8.5 per cent on a national basis compared to the previous month - in Adelaide, this figure stood at 9.3 per cent.<br /> <br /> However, compared to December 2012, the South Australian capital witnessed a decline of 8.5 per cent.<br /> <br /> Managing director of SQM Research Louis Christopher explained how these declines are not out of place at this time of year, especially given that the sector shuts down during December and much of January.<br /> <br /> The expert continued: &quot;Overall, I see no evidence of any slowdown in the market itself with these numbers.<br /> <br /> &quot;And indeed our asking prices index recorded some very strong increases right throughout December. We are confident of a very strong market opening later this month.&quot;<br /> <br /> SQM Research has also released other figures that may be interesting to anyone pursuing a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a> or offering advice to those thinking of buying in the city.<br /> <br /> Sales price data for Adelaide City shows over the past three years, property prices have declined by almost a quarter (22.6 per cent), making the region an increasingly affordable choice.<br /> <br /> Unit costs have also declined during the same period, falling 12.3 per cent over the past three years and 6.9 per cent during the last 12 months alone.<br /> <br /> Other parts of the capital have experienced slightly different fortunes. In the week ending January 12, Northern Adelaide saw its house prices increase 1.1 per cent compared to the same period of 2012.<br /> <br /> Eastern Adelaide&#39;s property market has seen some ups and downs over recent years - unit prices have dropped 0.5 per cent on a 12-month basis, but have risen 0.1 per cent over the past three years.<br /> <br /> &nbsp;</p> http://www.reisa.com.au/news/adelaide-sees-fall-in-residential-stock-listings http://www.reisa.com.au/news/adelaide-sees-fall-in-residential-stock-listings 14th Jan 14 Clarification of Form 1 issues <p><strong style="font-size: 1em; line-height: 1.5em;">Form 1 searches</strong></p> <p>There has been some confusion recently as to whether an agent is required to undertake new searches for a Form 1 following the commencement of the new sales legislation on 1 January 2014.&nbsp;<br /> <br /> Consumer and Business Services has provided the following advice:</p> <p>&quot;The transitional provision in the variation regulations allows a Form 1 vendors statement to be prepared on the form that was in operation immediately before 1 January, until 28 February (inclusive). This is so a person who obtained their PIR in late December does not have to obtain new searches to prepare a Form 1 in early to mid January.&nbsp; (emphasis added)</p> <p>If a person chooses to prepare a vendor&#39;s statement on the Post January Form 1, they should obtain new searches because the pre 1 January searches will not contain information on the new legislation that was added to the Form 1 on 1 January.</p> <p>I understand there are also queries about whether a person can use a PIR obtained in October to prepare a vendor&#39;s statement in January, using the form in operation immediately before 1 January. The LABSAC Act requires that a vendor&#39;s statement be accurate on the date it is served. It also requires the agent to ensure that the searches are conducted. While the Act does not place a limitation on the time between the conduct of the searches and the completion of the statement, as the length of time increases, so does the risk that the information provided by the PIR and other searches is no longer accurate. As you know if the vendor&#39;s statement is not accurate the purchaser may cool-off any time before settlement, or apply to a court of competent jurisdiction to avoid the contract or the payment of compensation. The court may make any order it thinks just in the circumstances of the case. Hence, before preparing a vendor&#39;s statement, consideration should be given to the risk that the vendor&#39;s statement will not be accurate if prepared using a PIR and other searches obtained prior to 1 January.&quot;</p> <p><strong>Delivery of entire Form 1</strong></p> <p>A number of Members have expressed concerns over the recent changes to the requirement from 1 March 2014 to deliver the entire Form 1 to purchasers. REISA is in dialogue with the Minister&#39;s office about this issue and we will advise Members when more information becomes available. REISA is advocating very hard for the reintroduction of the two approaches previously permissible before 1 January.</p> http://www.reisa.com.au/news/clarification-of-form-1-issues http://www.reisa.com.au/news/clarification-of-form-1-issues 14th Jan 14 First home buyers reach record low <p>The Real Estate Institute of Australia (REIA) says the latest housing finance figures released by the&nbsp;<br /> Australian Bureau of Statistics (ABS) show that the number of first home buyers is at a record low despite&nbsp;total lending for housing growing steadily in response to interest rate cuts and the positive housing outlook&nbsp;or much of the country.&nbsp;<br /> <br /> Housing finance figures for November 2013 show, in trend terms, that the number of owner-occupied&nbsp;<br /> finance commitments rose by 0.6 per cent, following increases of 0.8 per cent in October and September.&nbsp;<br /> <br /> This is the lowest monthly increase, in trend terms, since January 2013.&nbsp;<br /> If refinancing is excluded, in trend terms for November, the number of owner-occupied finance&nbsp;<br /> commitments increased by 0.7 per cent.&nbsp;REIA President, Peter Bushby says, &ldquo;Increases were recorded in New South Wales, Tasmania, Queensland and&nbsp;Western Australia, with Tasmania having the biggest rise, up 2.4 per cent. The Australian Capital Territory&rsquo;s&nbsp;fall of 1.4 per cent was the country&rsquo;s largest.&rdquo;&nbsp;</p> <p>&ldquo;In trend terms, the number of commitments for the construction of new dwellings climbed 1.1 per cent and&nbsp;the purchase of established dwellings went up 0.7 per cent,&rdquo; Mr Bushby continued.<br /> <br /> &ldquo;However the purchase of&nbsp;new dwellings fell by 0.6 per cent.&rdquo;&nbsp;The value of investment housing commitments continued to increase, with a rise of 3.0 per cent, in trend&nbsp;terms, in November resulting in well over two years of consecutive monthly increases.&nbsp;<br /> <br /> &ldquo;The proportion of first home buyers in the number of owner-occupied housing finance commitments fell to&nbsp;12.3 per cent compared to the October figure of 12.6 per cent and is the lowest figure since data began to be&nbsp;collected in July 1991. It is far lower than the long-run average proportion of 19.9 per cent, despite eight&nbsp;interest rate cuts since November 2011.&rdquo;&nbsp;</p> <p>&ldquo;With the number of first home buyers at historically low levels, it&rsquo;s time for all governments to review&nbsp;<br /> support to first home buyers,&rdquo; concluded by Bushby.</p> http://www.reisa.com.au/news/first-home-buyers-reach-record-low http://www.reisa.com.au/news/first-home-buyers-reach-record-low 13th Jan 14 Increased demand for retirement-friendly property in SA <p>South Australia&#39;s ageing population is contributing to increased demand for retirement-friendly property in Adelaide.<br /> <br /> According to a statement released by the Retirement Living Council, there is a severe shortage of homes for retirees wanting to downsize their properties in the area.<br /> <br /> The statement was released off the back of a report published by MacroPlan Dimasi that analyses population changes. Based on the 2006 to 2011 ABS Census, the report identifies key areas where the population is ageing.<br /> <br /> The findings revealed many retirees are moving further out from the CBD to fringe suburbs, such as Prospect (north of Adelaide) and Mitcham (to the south).<br /> <br /> The Retirement Living Council has expressed concern at this phenomenon due to a lack of appropriate housing and retirement villages in these areas.<br /> <br /> Executive Director Mary Wood is urging the government to consider incorporating retirement villages into development plans for Adelaide and its suburbs.<br /> <br /> &quot;Including retirement villages in capital city planning provides housing choice and social diversity and allows seniors to stay living in their existing communities and be close to families, friends and support services as our population ages,&quot; Ms Wood said.<br /> <br /> &quot;As a result they are likely to live happier and longer lives reducing hospital and aged care costs borne by the taxpayer.&quot;<br /> <br /> Ms Wood added that other areas with growing ageing populations near Adelaide included [include?] Golden Grove and Mount Barker.<br /> <br /> Although the lack of appropriate housing for retirees in these areas presents many challenges, it does create a competitive property market. Real estate agents may be kept busy searching for appropriate properties for prospective buyers.<br /> <br /> Agents looking to increase business in Adelaide and surrounding suburbs may benefit from taking <a class="dnautolink" href="http://www.reisa.com.au/training/property-management-2">property management courses</a> to improve their skill set. The better agents understand the current property climate in South Australia, the better they will be able to help find buyers and sellers the best deals.</p> http://www.reisa.com.au/news/increased-demand-for-retirement-friendly-property-in-sa http://www.reisa.com.au/news/increased-demand-for-retirement-friendly-property-in-sa 13th Jan 14 Notice of Expiry FAQs. <p><strong>What is a Notice of Expiry?</strong></p> <p>A notice of expiry is a new and optional document that can be used to extend a sales agency agreement.</p> <p><strong>Do I have to use a Notice of Expiry?</strong></p> <p>No.&nbsp; It is an optional document.&nbsp; You only have to use it if you want to extend the sales agency agreement.</p> <p><strong>Does it replace a subsequent sales agency agreement?</strong></p> <p>No.&nbsp; You can still use a subsequent sales agency agreement if you want to.&nbsp;</p> <p><strong>What do I have to do if I want to use a Notice of Expiry?</strong></p> <p>You must send the Notice of Expiry to your vendor no earlier than 14 days prior to the expiry of the sales agency agreement.&nbsp; If you don&rsquo;t send it in this time period, then you cannot use the Notice of Expiry to extend the sales agency agreement.</p> <p><strong>Can I email the Notice of Expiry to a vendor?</strong></p> <p>Yes.</p> <p><strong>What can the vendor do if they receive a Notice of Expiry?</strong></p> <p>The vendor can:</p> <p>Agree to extend the sales agency agreement for a period not exceeding 90 days.&nbsp; The vendor must sign the Agreement to Extend no earlier than 14 days prior to the expiration of the sales agency agreement.<br /> Not agree to extend the sales agency agreement.&nbsp; The vendor must give you notice that they do not agree to extend the sales agency agreement.<br /> Do nothing.&nbsp; The sales agency agreement will then roll over for a period not exceeding 180 days.</p> <p><strong>How many notices of expiry can be issued for a sales agency agreement?</strong></p> <p>One.&nbsp; You can only have one extension per sales agency agreement.</p> <p><strong>Can I use a notice of expiry to extend a sales agency agreement entered into before 1 January 2014?</strong></p> <p>No.&nbsp; A notice of expiry can only be used for agreements entered into on or after 1 January 2014.</p> http://www.reisa.com.au/news/notice-of-expiry-faqs http://www.reisa.com.au/news/notice-of-expiry-faqs 9th Jan 14 Slow growth in December construction <p>There was further good news for the construction industry in December 2013, as the latest data shows a rise in activity throughout the month.<br /> <br /> The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index experienced a slight decline in growth compared to previous months, but it nevertheless remained in positive territory.<br /> <br /> A reading of 50.8 was registered in December - those over 50 are considered to signal expansion in activity. New orders achieved a reading of 54.3, which compared to 50.7 for activity and 48.3 for deliveries from suppliers.<br /> <br /> House building, on the other hand, witnessed the second highest rate of expansion since the survey started back in September 2005. It increased 1.5 points to reach 63.5 in December.<br /> <br /> Group director of public policy at the Australian Industry Group Peter Burn explained how apartment and house building activity had proved especially strong last month.<br /> <br /> He also emphasised how the low interest rate environment is helping to stimulate the sector, meaning builders across the country can look forward to the rest of 2014 with a renewed sense of confidence.<br /> <br /> Housing Industry Association chief economist Harley Dale agreed, saying the industry &quot;paused for breath&quot; in December following months of substantial gains.<br /> <br /> &quot;The key is that the index remained in expansionary territory,&quot; he noted.<br /> <br /> &quot;Four months of such expansion, following as it does years of contraction, is an important tick in the box for Australia&#39;s growth prospects in 2014.&quot;<br /> <br /> Strong growth in the construction sector is likely to play an important role for anyone offering <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a>, especially as housing stock increases across the country.<br /> <br /> Data from the Australian Bureau of Statistics released in November 2013 predicted the country&#39;s population would double by 2017, creating the need for the construction of more properties.<br /> <br /> &nbsp;</p> http://www.reisa.com.au/news/slow-growth-in-december-construction http://www.reisa.com.au/news/slow-growth-in-december-construction 7th Jan 14 Be aware of property energy efficiency standards <p>Energy efficiency has been on the agenda for many state governments over recent years - and South Australia is no exception.<br /> <br /> Under legislation enforced in September 2010, all new homes and extensions constructed in the state need to achieve a six-star energy efficiency rating.<br /> <br /> This is something anyone providing <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> will need to be aware of, not least because falling foul of these regulations can lead to serious legal action being taken.<br /> <br /> The SA government has put forward a number of recommendations to help property owners take the environment into consideration when adding extensions to their homes.<br /> <br /> The legislation covers a number of areas, including wall and ceiling insulation and energy creation, so the regulations homeowners have to conform to are far-reaching.<br /> <br /> Government officials advise that in order for properties to achieve a six-star level for thermal comfort, they must meet lighting requirements, as well as have energy efficient water heaters in place.<br /> <br /> It argues that when included during the design and construction phase, these measures cost less to implement and can bring widespread benefits to owners of the property from the moment they are installed.<br /> <br /> The different climate zones that exist within South Australia are taken into consideration when assessing how eco-friendly a property is. For example, conditions in the far north of the state are likely to be massively different to those in the south-east.<br /> <br /> A computer-based program is used to assess the efficiency of these properties. This can be completed by anyone with the necessary software and skills - they are usually a building designer, surveyor, builder or architect.<br /> <br /> With pressure growing on developed nations to ensure their energy efficiency standards are being met, the real estate sector is just one of those being called upon to make a difference.<br /> <br /> &nbsp;</p> http://www.reisa.com.au/news/be-aware-of-property-energy-efficiency-standards http://www.reisa.com.au/news/be-aware-of-property-energy-efficiency-standards 6th Jan 14 At home and on the road <p>The new sales legislation officially commenced on 1 January so it&rsquo;s a good time to reflect upon the training that REISA offered in 2013 in regards to the new legislative changes.</p> <p>REISA smashed all its training records over the last 12 months to post a record high of 2,018 metropolitan and 597 regional attendances at 50 sales training and 45 property management sessions at home and across the State.</p> <p>This is a spectacular result and just goes to prove that real estate practitioners are keen to be as relevant, ready and informed as possible.</p> <p>REISA provided these sessions free of charge to its members and this is one of the continuing ways in which we are - and will be - providing value for money for REISA membership.</p> <p>Although we trained the majority of practitioners at our HQ, we also hit the road during 2013 to take the message to our regional members.</p> <p>In the 70s, it was the Leyland Brothers.&nbsp; In the 80s it was Alby Mangels.&nbsp; And for the last two decades, it has been the Getaway Team.</p> <p>But last year it was the REISA boys.</p> <p>With maps in hand, they travelled over 7, 900 kilometres to ten regional areas and delivered 34 sessions.</p> <p>Nothing was too far.&nbsp; All modes of transport were used &ndash; plane, car, ferry and in one faraway region, a donkey.&nbsp;</p> <p>The feedback from the regions was extremely positive and coupled with our first new webinar training sessions that took place in December and will be continuing this year, our regional members will be more involved than ever before.</p> <p>And don&rsquo;t forget, if any of you have any questions about the legislative changes, don&rsquo;t hesitate to use our Call Paul hotline on 8366 4362.</p> http://www.reisa.com.au/news/at-home-and-on-the-road http://www.reisa.com.au/news/at-home-and-on-the-road 30th Dec 13 Own your own agency with the right real estate training <p>Being your own boss comes with many benefits, and the same holds true for a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a>.</p> <p>Owning your own agency means being in control. It not only gives you the freedom you need to make important business decisions, it also means that at the end of the day, you&#39;re the only person responsible for your success.</p> <p>The sky&#39;s the limit for you to develop your real estate agency, and this includes everything from how much income you bring in to how your business expands.</p> <p>As the boss, you&#39;ll also be able to set your own hours, deciding which business strategies work best for you and, if you have them, your employees.</p> <p>There are many factors to take into account when deciding to own your own agency, including startup costs, hiring, the location of your office, developing a client base and much more. However, your first step needs to be proper <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a>.</p> <p><strong>Knowledge for agency success</strong></p> <p>Running an agency can be very different from working for one, and you owe it to yourself and your business to start out on solid footing.</p> <p>The Real Estate Institute of South Australia (REISA) offers a Diploma of Property Services, and since you&#39;ll likely already be hard at work in the market while you earn this diploma, REISA has made it easier to obtain by offering training blocks that can be tailored to your schedule.</p> <p>Diploma units run on an ongoing basis, so REISA can help you get into the relevant <a class="dnautolink" href="http://www.reisa.com.au/training/training">real estate courses</a> when the time comes.</p> <p>Even if you&#39;ve spent years in the industry, understanding the ins and outs of agency management can be an overwhelming task. By investing in the proper real estate training, you&#39;ll give yourself the edge you need to succeed.<br /> &nbsp;</p> http://www.reisa.com.au/news/own-your-own-agency-with-the-right-real-estate-training http://www.reisa.com.au/news/own-your-own-agency-with-the-right-real-estate-training 28th Dec 13 The advantages of a real estate career in sales <p>A <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a> can come in many shapes and sizes, but one of the most important and constantly in demand is sales.</p> <p>As many Australians have already figured out, a real estate sales career offers many perks and can be a fulfilling employment path.</p> <p><strong>The benefits of sales</strong></p> <p>One of the biggest benefits of a real estate career in sales is the excitement. Being a sales professional means every day is different, providing you the chance to meet new people from all walks of life.</p> <p>If you&#39;re a people person, there&#39;s no doubt a sales career is right up your alley.</p> <p>Being a salesperson also offers a certain amount of flexibility that other forms of employment do not. A sales schedule is all about adaptability, not clocking in and leaving at a certain time every day. In many ways, it allows you be your own boss.</p> <p>Of course, this also makes self-determination an important part of a career in real estate sales. Salespeople require drive and commitment, but for those who possess these qualities, a real estate career in sales can be highly lucrative.</p> <p>Very few jobs offer the type of income potential available with a career in sales.</p> <p><strong>Entering the market</strong></p> <p>In order to sell real estate in South Australia, you must be registered with Consumer &amp; Business Services, something that can be done once you&#39;ve completed the Certificate IV in Property Services.</p> <p>The Real Estate Institute of South Australia (REISA) offers this 24-unit course, which can be completed in six weeks full-time or 10 months part-time.</p> <p><a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">Real estate training</a> is an essential part of a career in sales, so if you&#39;re considering entering the market as a real estate professional, you should focus on taking the right <a class="dnautolink" href="http://www.reisa.com.au/training/training">real estate courses</a> and gaining the knowledge you need to succeed.<br /> &nbsp;</p> http://www.reisa.com.au/news/the-advantages-of-a-real-estate-career-in-sales http://www.reisa.com.au/news/the-advantages-of-a-real-estate-career-in-sales 28th Dec 13 Staying on top of real estate compliance issues <p>Many industries boast professional development courses that help workers hone their skills and gain an edge over the competition, but when it comes to a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a>, professional development is especially important.</p> <p>There is no shortage of legislation to ensure compliance in the Australian real estate industry, not to mention laws and regulations specific to South Australia. What&#39;s more, these laws can change over time, requiring new practices to be put in place.</p> <p>This is why taking a <a class="dnautolink" href="http://www.reisa.com.au/training/training">real estate course</a> that focuses on compliance is more than just a good way to improve your skills - it&#39;s a necessary step to ensure you&#39;re up to date with the law and best practices.</p> <p><strong>A wealth of options</strong></p> <p>When it comes to compliance, there are many areas in which real estate professionals may need to brush up.</p> <p>One vital area is the documentation used in sales and settlements, as well as how to avoid common mistakes.</p> <p>Another subject is how to avoid fines and other legal actions by ensuring you&#39;re in compliance with relevant legislation.</p> <p>Yet another area that deserves careful attention is the setting of advertised property prices during the sales process.</p> <p>The Real Estate Institute of South Australia (REISA) provides real estate courses that detail these and other subjects.</p> <p>No matter how knowledgeable you are about the market, successful real estate professionals know there is always more to learn. And when it comes to compliance issues, being safe is always better than being sorry.</p> <p>Therefore, regardless of how long you&#39;ve been in the industry, it pays to consistently take relevant real estate courses that can help you stay in line with the law and grow your business.</p> http://www.reisa.com.au/news/staying-on-top-of-real-estate-compliance-issues http://www.reisa.com.au/news/staying-on-top-of-real-estate-compliance-issues 24th Dec 13 Understanding notice and access rights <p>Owning property in Australia comes with many unique laws and regulations intended to respect landlords&#39; rights while protecting tenants. One aspect of <a class="dnautolink" href="http://www.reisa.com.au/membershipinformation/membership">real estate legislation</a> that focuses on this relationship concerns privacy.</p> <p>After all, even though you may own a home, renting it out to tenants means respecting their rights as human beings, not to mention as paying customers.</p> <p>&quot;Tenants are legally allowed to live in peace, comfort and privacy in a private rental property,&quot; states the official website of the Government of South Australia.</p> <p>&quot;This means that landlords have limited rights as to when they can enter a tenanted property. This includes any gardens, shed or yard included in the lease agreement.&quot;</p> <p>While respecting tenants&#39; privacy may seem simple and straightforward, it can get complicated in some instances. This makes understanding issues related to reasonable notice and access essential.</p> <p><strong>When notice is required</strong></p> <p>In most cases, written notice to enter a property must be given to tenants in advance. Failure to do so can result in fines. However, there are times when notice is not required, such as in the case of an emergency.</p> <p>You&#39;ll likely want to inspect your property from time to time to ensure it&#39;s in good condition. While inspections are definitely allowed, they can&#39;t be done more than once every four weeks and require seven to 14 days written notice.</p> <p>Sometimes repairs may be necessary, and even if this is intended to help tenants,48 hours&#39; written notice must be given and repairs must be done at a reasonable time.</p> <p>If you and your tenants have agreed beforehand that rent can be picked up at the property, no written notice is required, but this can only occur once a week.</p> <p>Of course, any time a tenant provides consent immediately before entry, there&#39;s nothing for you to worry about.</p> <p>However, it&#39;s generally good <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> to give as much notice as possible.<br /> &nbsp;</p> http://www.reisa.com.au/news/understanding-notice-and-access-rights http://www.reisa.com.au/news/understanding-notice-and-access-rights 24th Dec 13 South Australia bucks mortgage repayment trend <p>Data shows that many home buyers throughout Australia are struggling to keep up with one of the fundamental pieces of <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> - stay on top of mortgage repayments. However, this is a trend felt less in South Australia.</p> <p>The Fitch Ratings Mortgage Delinquency Report tracked $200 billion worth of mortgage-backed securities and found that 1.25 per cent of mortgage borrowers were more than 30 days behind on their repayments at the end of September.</p> <p>While lower than the level seen in March, this represented a higher level when compared to the previous September.</p> <p>However, of the 10 worst-performing regions throughout the country, only one SA city made the list - Para Hills. The rest were found in New South Wales, Victoria and Queensland.</p> <p>This is somewhat surprising, as SA boasts more mortgages than the national average.</p> <p>According to data from the Australian Bureau of Statistics (ABS), more than two-thirds of households owned their home as of 2011.</p> <p>Of this number, 34.9 per cent owned their home with a mortgage. However, in SA, that number was 35.3 per cent.</p> <p>The local government area (LGA) with the largest proportion of homes owned with a mortgage was Mallala, which reached 54.4 per cent. Other LGAs with a high proportion of owned homes included Light (50.8 per cent), Adelaide Hills (46.3 per cent) and Mount Barker (45.8 per cent).</p> <p>&quot;The LGAs with high proportions of homes owned with a mortgage were located on the fringe or outer areas of the major cities of Adelaide and Mount Gambier,&quot; the ABS reported on November 19.</p> <p>&quot;Coober Pedy and the inner city LGA of Adelaide were among the areas with the lowest proportions of homes owned with a mortgage, with 17.9 per cent and 17.1 per centrespectively.&quot;</p> <p>It seems that SA once again bucked national trends, this time for the better.</p> http://www.reisa.com.au/news/south-australia-bucks-mortgage-repayment-trend http://www.reisa.com.au/news/south-australia-bucks-mortgage-repayment-trend 20th Dec 13 CHANGES TO FORM 1 <p>CBS had advised REISA of the following changes to the Form 1.</p> <p>As you know, the Land and Business (Sale and Conveyancing) Act 1994 requires a person who sells land to disclose information to the purchaser using the Form 1 Vendor&rsquo;s Statement (Form 1). The information includes government interests, other encumbrances and charges, which may affect the enjoyment, safety and value of the land. It assists the purchaser to determine if they want to proceed with the purchase. Form 1 is prescribed in Schedule 1 to the Land and Business (Sale and Conveyancing) Regulations 2010 (regulations).</p> <p>The majority of the Form 1 content is obtained from the Property Interest Report provided by the Land Services Group of the Department of Planning, Transport and Infrastructure. The Land Services Group has announced that from 1 January 2014, customers will be able to order a Form 1 template product via PropertyAssist. The new product will attract the same fee as a Property Interest Report.</p> <p>The new product will pre-populate the Form 1 template with the information currently provided in the Property Interest Report. This product should provide efficiencies and reduce errors for clients as they will no longer need to transcribe the information between the Property Interest Report and the paper based Form 1.</p> <p>The introduction of the Form 1 template product coincides with changes to the legislation that amend cooling-off provisions. The opportunity has also been taken to update the regulations. Form 1 has been reformatted to make it suitable for use as an editable PDF form, and obsolete references in Form 1 and Form 2, for the sale of a small business, have been updated. A copy of the Land and Business (Sale and Conveyancing) Variation Regulations 2013, which updates the regulations, can be found on the SA Government legislation website at <a href="http://www.legislation.sa.gov.au/index.aspx" target="_blank">www.legislation.sa.gov.au</a>.</p> <p>The variation regulations provide a grace period of two months before vendors&rsquo; statements must be prepared using the new forms. Accordingly:</p> <ul><li>Until 1 March 2014 a vendor&rsquo;s statement may be prepared using a form that was in operation immediately before 1 January 2014;</li> <li>Any vendors&rsquo; statements served on or after 1 January 2014, that were prepared between 1 November 2013 and 28 February 2014 (inclusive), on a form in operation immediately before 1 January 2014, must be accompanied by a prescribed notice explaining changes to the cooling-off provisions.&nbsp; This&nbsp;prescribed notice&nbsp;will be available on the REI FormsNow platform.</li> <li>A vendor&rsquo;s statement must be accurate as at the date of service on the purchaser; and</li> <li>Vendors&rsquo; statements prepared before 1 November 2013 may not be served on or after 1 January 2014.</li> </ul> http://www.reisa.com.au/news/changes-to-form-1 http://www.reisa.com.au/news/changes-to-form-1 20th Dec 13 NEW START DATE FOR RESIDENTIAL TENANCIES LEGISLATION <p>CBS has advised REISA that the commencement date for the new residential tenancies legislation is 1 March and NOT 1 February due to CBS undertaking system development work. Furthermore, all amendments relating to bond matters will be deferred to later in the year.</p> <p>REISA has put in a detailed submission to CBS on the legislative changes and this extra time will allow us to gain clarity on some urgent issues.</p> <p>REISA will&nbsp;post any&nbsp;future developments relating to residential tenancies as it is informed of them.</p> http://www.reisa.com.au/news/new-start-date-for-residential-tenancies-legislation http://www.reisa.com.au/news/new-start-date-for-residential-tenancies-legislation 19th Dec 13 Help people help the environment through home sustainability assessmen <p>All too often, people assume a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a> means simply being a real estate agent. However, this is just one type of position in the extensive industry.</p> <p>There are numerous career opportunities within the real estate realm, one being a home sustainability assessor.</p> <p><strong>What is home sustainability assessment?</strong></p> <p>A home sustainability assessor is focused on the environmental impact of property. This includes analysing a building&#39;s thermal rating, energy usage, water usage and household waste production.</p> <p>Assessors can provide advice on how to improve sustainability using knowledge based on government legislation and green building research.</p> <p>Not only can becoming a home sustainability assessor be a profitable career, it can be fulfilling one. Assessors help homeowners protect the environment by reducing a building&#39;s environmental footprint.</p> <p>This can benefit not just homeowners, but everyone in the surrounding community.</p> <p>Of course, in addition to helping the environment, these assessments can also save homeowners money on energy usage, as well as improve a property&#39;s resale value and marketability.</p> <p><strong>Real estate training essential for home sustainability</strong></p> <p>Becoming a qualified assessor means investing in <a class="dnautolink" href="http://www.reisa.com.au/training/training">real estate courses</a> that provide a comprehensive overview of best practices, occupational health and safety regulations and all the other developmental goals that assessors will need to reach.</p> <p>The Real Estate Institute of South Australia (REISA) provides a real estate course for the nationally recognised Certificate IV in Home Sustainability Assessment.</p> <p>Topics include everything from water management to accessing government incentives to help Australians become more sustainable in an affordable manner.</p> <p>For Australians looking for a fulfilling career that can help both their fellow citizens and the planet as a whole, signing up for courses relating to home sustainability assessment is a smart move.</p> http://www.reisa.com.au/news/help-people-help-the-environment-through-home-sustainability-assessmen http://www.reisa.com.au/news/help-people-help-the-environment-through-home-sustainability-assessmen 18th Dec 13 Real estate industry supports promising new talent <p>The Apprenticeship Brokers are in schools most weeks of the year supporting students to gain school based traineeships and apprenticeships, they work with employers to determine their student employment needs and employer/ student match by supporting students to be work ready and filtering unsuitable applicants, supporting the employer to employ &lsquo;the cream of the crop&rsquo; of students who are ready to work, and committed to the role you are looking to fill.</p> <p>School based apprenticeships in their basic form are; 1 day a week (8 hours minimum) in paid work starting their traineeship, 1 day a week in training and 3 days a week at school. The day per week in training enables them to gain SACE credits; it&rsquo;s like swapping a few subjects at school that may not be so relevant to them for a subject that is relevant. Often a traineeship is worth 2 full year subjects. This is how we can give them time off to work and study.</p> <p>As an employer, you get to choose your staff and train them from the start how you like, and essentially get an employee, if it&rsquo;s done across 2 years, for half price. It doesn&rsquo;t always take 2 years, and this is a great opportunity with the current government incentives available to employers (at the moment they&rsquo;re around $5700 for a school based trainee who finishes year 12 with you as part of their traineeship).</p> <p>For real estate agents, many of the topics on the new scope of REISA can be done as a traineeship, such as; Certificate III in Information, digital media and technology, Certificate IV in Business Administration, Certificate III Property (Agency) and more.&nbsp;<br /> <br /> Expressions of interest should be Chris Jansse on 8366 4308 or email <a href="mailto:chris.jansse@reisa.com.au?subject=Expression%20of%20interest%20Apprenticeship%20Brokers">chris.jansse@reisa.com.au</a>.</p> http://www.reisa.com.au/news/real-estate-industry-supports-promising-new-talent http://www.reisa.com.au/news/real-estate-industry-supports-promising-new-talent 17th Dec 13 Adelaide ranks among top 10 global travel destinations <p><a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">Real estate advice</a> typically comes down to considering location, and if a recent report from Lonely Planet is any indication, it seems that location isn&#39;t a problem for South Australia.</p> <p>Adelaide, the capital city of SA, recently made the top 10 list of Lonely Planet&#39;s Best in Travel 2014. The city joined the likes of Paris, Zurich, Shanghai and Chicago.</p> <p>&quot;While Melbourne and Sydney have competed for attention, Adelaide has transformed itself into the perfect host city,&quot; Lonely Planet stated in its October 28 announcement.</p> <p>&quot;It has accumulated some of Australia&rsquo;s most popular sporting and arts events, including the cultural tour de force of the Adelaide Festival, the Adelaide Fringe Festival and WOMADelaide. The year 2014 beckons big changes for the city&rsquo;s heart, with the completion of the multimillion-dollar refurbishment of the Adelaide Oval, which will link central Adelaide with the Oval and its beautiful surrounding parklands, and historic North Adelaide further on.&quot;</p> <p>Lonely Planet went on to highlight Adelaide as a gateway to some of Australia&#39;s world-famous wine country.</p> <p>This ranking is good news for those pursuing a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a> in the region, as Lonely Planet is one of the world&#39;s most successful travel publishers, and its opinion is highly respected by many.</p> <p>So what could this mean for real estate professionals in the area? It will likely translate to an influx of tourism, and could perhaps lead to buyers looking to permanently call South Australia home.</p> <p>And with dwelling approvals, home values and the pace of lending all increasing in the region over the past few months, now is the time for professionals to give themselves the edge by investing in <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate agent training</a> and other courses that will help them keep up with growing demand.<br /> &nbsp;</p> http://www.reisa.com.au/news/adelaide-ranks-among-top-10-global-travel-destinations http://www.reisa.com.au/news/adelaide-ranks-among-top-10-global-travel-destinations 13th Dec 13 Lending on the rise as home values grow in Adelaide <p>Those pursuing a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a> know all too well the impact the financing market can have on business, which is why recent news from RP Data should be met favourably by real estate agents all over Australia.</p> <p>&ldquo;The latest data from the Reserve Bank shows private sector housing credit increased by 5 per cent over the 12 months to October 2013, its highest annual rate of growth since June 2012,&quot; said Cameron Kusher, senior research analyst at RP Data, in a December 2 media release.</p> <p>The statement came as part of the results of the RP Data - Rismark International Home Value Index for November, which showed that when combined, home values increased 8 per cent in Australia&#39;s capital cities on an annual basis.</p> <p>Adelaide beat out many other capital cities in the results for the three-month period ending in November, including Melbourne, Brisbane, Perth and Darwin.</p> <p>South Australia&#39;s capital city posted a rise of 2.6 per cent in property values during this time period.</p> <p>As for Adelaide&#39;s price performance throughout 2013, Australian Property Monitors (APM) reported on December 5 that the median house price is set to increase 2 per cent by the end of the year, the first annual increase for the city since 2010.</p> <p>Meanwhile, prices are expected to grow between 0 and 3 per cent throughout 2014, according to APM.</p> <p><strong>Affordability remains a plus for first home buyers</strong></p> <p>Despite recent increases in home values, APM reported that Adelaide has the lowest median house price of all mainland capitals.</p> <p>This would help explain why first home buyer activity consistently ranks among the highest of all the capital cities in the area.</p> <p>For real estate agents counting on business from new buyers entering the market, this is great news, especially as first home buyer activity has waned in recent months in many regions across the country.</p> http://www.reisa.com.au/news/lending-on-the-rise-as-home-values-grow-in-adelaide http://www.reisa.com.au/news/lending-on-the-rise-as-home-values-grow-in-adelaide 13th Dec 13 Massive victory for real estate consumers <p>In a red letter day for the South Australian real estate industry, State Ministers across the country today voted against the proposed national licensing scheme for real estate practitioners.</p> <p>For the last few years, I have fought desperately against this proposal and have taken every opportunity to speak publicly about its dangerous ramifications for the real estate industry, particularly here in South Australia.</p> <p>In short, the scheme proposed to lower the education and training requirements for real estate practitioners to be licensed in South Australia with a consequential devastating impact upon consumers and the reputation of our industry as a profession worthy of confidence and respect.</p> <p>You are all aware that new legislation for sales and property management is to commence in the New Year which will afford significant new protections to consumers.&nbsp; It would have been absurd to have then allowed (and expected) people without the requisite training and education to implement and comply with these new provisions.</p> <p>The decision today is a triumph for common sense, consumer protection and maintaining the South Australian real estate industry as the most qualified and accountable in the country.</p> <p>I would like to thank the Premier and the Deputy Premier for their strong and courageous leadership in advocating REISA&rsquo;s position to the Federal Government and in supporting it today.&nbsp; In particular, the Deputy Premier has publicly stated on many occasions that he would do everything within his power to ensure that South Australian standards did not fall as a result of the proposed scheme and his spectacular success today is a testament to his vision and determination.</p> <p>Today&rsquo;s decision is another stunning acknowledgement of REISA&rsquo;s preeminence as the voice of the real estate industry in South Australia.&nbsp; This past year has seen REISA successfully negotiate policy platforms and legislation, consistently sell out professional development and training programs, implement a revolutionary FormsOnline initiative and continue to fight &ndash; on your behalf &ndash; for the industry of which we are all proud to be a part.</p> <p>Our membership is crucial for giving us that voice.&nbsp; We are only as strong as our members.&nbsp; But as seen today, REISA has never been stronger.</p> <p><strong>Greg Troughton</strong></p> <p><strong>CEO, REISA</strong></p> http://www.reisa.com.au/news/massive-victory-for-real-estate-consumers http://www.reisa.com.au/news/massive-victory-for-real-estate-consumers 12th Dec 13 REIA calls on COAG to agree to mutual recognition solution <p>The Real Estate Institute of Australia (REIA) says it is astonished that the Productivity Commission&nbsp; would propose that COAG adopt a rushed deadline to implement an ineffective legislative scheme that &lsquo;dumbs down&rsquo; the real estate profession.&nbsp; <p>The President of the REIA, Mr Peter Bushby, said that REIA believes that mutual recognition is the&nbsp; answer rather than creating a centralized bureaucracy through the National Occupational Licensing&nbsp; Authority (NOLA) which is wasting millions of taxpayer dollars a year.&nbsp; <p>The Commission&rsquo;s Draft Report on Geographic Labour Mobility recommends that COAG at its meeting&nbsp;on Friday should take remedial action now to ensure national occupational licensing reforms&nbsp;commence in 2014 in opposition to the Commission&rsquo;s own analysis and reasoning.&nbsp;</p> <p>&nbsp;&ldquo;The Commission&rsquo;s key finding is that personal factors, and their interaction with locational factors,&nbsp; tend to dominate relocation decisions and that it has not identified any policies or distortions&nbsp; warranting policy intervention that significantly impede geographic labour mobility in Australia&rdquo;.&nbsp;</p> <p>&ldquo;In any case we should be clear that the skills governments are trying to attract to specific areas of&nbsp;shortages do not include real estate agents, and that the current arrangements of state licensing for the real estate profession acts as a real impediment to mobility.&nbsp;</p> <p>&nbsp;&ldquo;It is worthwhile noting that the organization established to administer national licensing, the National&nbsp;Occupational Licensing Authority (NOLA), in its submission to the Commission says that the original&nbsp;timeline for implementing the current project was overly optimistic and underestimated the&nbsp;complexity of achieving the national consensus and legislative change required for the project.&nbsp;</p> <p>&nbsp;NOLA also said that there are a number of factors including conduct harmonization that need to be addressed before the benefits of national licensing will be fully achievable.&nbsp;</p> <p>&ldquo;The Productivity Commission should have done its own analysis on the scheme before recommending&nbsp;to COAG that it impose a flawed and ill-conceived model onto the Australian people. Surely it is better&nbsp;to fix the problems rather than impose an artificial deadline?&rdquo; concluded Mr Bushby. REIA is preparing&nbsp;a submission in response to the Productivity Commission draft report.&nbsp;</p> http://www.reisa.com.au/news/reia-calls-on-coag-to-agree-to-mutual-recognition-solution http://www.reisa.com.au/news/reia-calls-on-coag-to-agree-to-mutual-recognition-solution 12th Dec 13 Call Paul <p><span style="font-size: 1em; line-height: 1.5em;">The new sales legislation starts on 1 January 2014.</span></p> <p>But never fear.</p> <p>You&rsquo;ve seen him, you&rsquo;ve heard him and now you get him 1-on-1.</p> <p>Paul Edwards, Policy Project Manager at REISA, has abandoned his trip to exotic places to be on board at REISA from 2 January 2014 to answer your calls and assist you through the legislative transition.</p> <p>Call Paul on 8366 4362</p> http://www.reisa.com.au/news/call-paul http://www.reisa.com.au/news/call-paul 11th Dec 13 Choosing a home and contents insurance policy <p>One important piece of <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> that many home buyers may overlook in the excitement of purchasing property is the need for home and contents insurance.</p> <p>As its name implies, this type of cover is geared toward protecting homes and the possessions inside them.</p> <p>As recent disasters in Australia have made all too clear, homes and their contents can be destroyed in the blink of an eye. This makes it essential to have proper cover in place.</p> <p>Home and contents insurance typically provides cover for damage caused by fire, storms, lightning, earthquakes and flood. Policies can also provide cover for non-natural occurrences, such as theft and vandalism.</p> <p>Different policies provide protection for different issues, so it&#39;s important for individuals to consider which policy best suits their needs.</p> <p><strong>Calculating costs</strong></p> <p>Nobody wants to pay too much for insurance cover, but it&#39;s also vital not to be underinsured. One way consumers can ensure they have the right amount of coverage is by using a free online calculator intended to determine how much insurance is necessary based on an appraisal of a home and its contents.</p> <p>These calculators can be found all over the web, including on the official website of the Insurance Council of Australia.</p> <p>When using these calculators, it&#39;s important to be honest about the costs of possessions in order to come up with an accurate number regarding coverage required.</p> <p><strong>Shopping around</strong></p> <p>As with most things in life, it pays to shop around for insurance cover. Simply opting for the first policy offered is not a smart way to save money on home and contents insurance.</p> <p>Consumers should compare and contrast different policies from different providers until they find one that is not only affordable, but more importantly, suits their specific needs.<br /> &nbsp;</p> http://www.reisa.com.au/news/choosing-a-home-and-contents-insurance-policy http://www.reisa.com.au/news/choosing-a-home-and-contents-insurance-policy 11th Dec 13 Australian housing in a growth phase <p>The Real Estate Institute of Australia says the figures according to the latest Bendigo Bank/REIA Real Estate Market Facts publication indicate that Australia is in a growth phase when it comes to housing.</p> <p>Real Estate Institute of Australia (REIA) President Peter Bushby says, &ldquo;The weighted average, capital city, median price increased 3.0% for houses and 2.2% for other dwellings during the September quarter.&rdquo;</p> <p>&ldquo;The weighted average, median house price for eight capital cities is now $562,503. Sydney,<br /> Melbourne, Brisbane and Hobart contributed to the increase, while Perth recorded the biggest<br /> drop, down by 3.8%.</p> <p>&ldquo;At $722,718, the Sydney median house price is the highest across the capital cities. Hobart<br /> remains the lowest at $352,000, 37.4% lower than the national weighted average.&rdquo;</p> <p>&ldquo;Compared to the same time last year, the weighted average median house price rose 9.5%.&rdquo;</p> <p>&ldquo;The weighted average median price for other dwellings for the eight capital cities was<br /> $460,315 over the quarter with Sydney, Melbourne and Darwin recording rises, while Adelaide had the biggest quarterly fall, down by 3.2%.&rdquo;</p> <p>&ldquo;Good news for investors in some centres. Over the September quarter, the median house rent for three bedroom houses increased in Sydney, Melbourne, Brisbane and Darwin.<br /> Rents remained unchanged in Adelaide and Canberra while Perth and Hobart fell by 1.0%<br /> and 2.1% respectively.&rdquo;</p> <p>&ldquo;For the next year we expect interest rates to stay relatively low and continue to assist the market. We expect continued steady improvement in activity in most markets and generally a more positive year ahead provided there are no left-field global issues that emerge,&rdquo; concluded Mr Bushby.</p> <p>The Bendigo Bank/REIA Real Estate Market Facts can be<a href="/documents/item/635"> f</a><a href="/documents/item/635" target="_blank">ound here</a></p> http://www.reisa.com.au/news/australian-housing-in-a-growth-phase http://www.reisa.com.au/news/australian-housing-in-a-growth-phase 10th Dec 13 Further strong growth in investment housing <p>The Real Estate Institute of Australia (REIA) says the latest housing finance figures released by the Australian Bureau of Statistics (ABS) show overall confidence in the housing market.</p> <p>The figures show growth in the number of investment housing commitments in response to interest rate cuts and the more positive housing outlook for much of the country, however first home buyers continue to shy away from the market.</p> <p>Housing finance figures for October 2013 show, in trend terms, that the number of owner-occupied finance commitments rose by 0.6 per cent &ndash; following increases of 0.7 per cent in September and 0.8 per cent in August. This was one of the lowest monthly increases, in trend terms, since December 2012.</p> <p>If refinancing is excluded, in trend terms for October, the number of owner-occupied housing finance commitments increased 0.5 per cent.</p> <p>REIA President, Peter Bushby says, &ldquo;Increases were recorded in New South Wales, Victoria and Tasmania, with Tasmania having the biggest rise, up 2.7 per cent. The Australian Capital Territory&rsquo;s fall of 0.8 per cent was the country&rsquo;s largest.&rdquo;</p> <p>&ldquo;In trend terms, the number of commitments for the construction of new dwellings climbed 0.7 per cent in trend terms and purchase of established dwellings went up 0.6 per cent,&rdquo; Mr Bushby continued. &ldquo;However the purchase of new dwellings fell by 0.1 per cent.&rdquo;</p> <p>The value of investment housing commitments rose by 2.9 per cent, in trend terms, in October resulting in well over two years of consecutive monthly increases.</p> <p>&ldquo;The proportion of first home buyers in the number of owner-occupied housing finance commitments increased slightly to 12.6 per cent compared to the September figure of 12.5 per cent. The proportion is one of the lowest since data began to be collected in July 1991 and is far lower than the long-run average proportion of 19.9 per cent, despite eight interest rate cuts since November 2011.&rdquo;</p> <p>&ldquo;With the number of first home buyers at historically low levels and further falls predicted in Victoria it is time for government to review support to first home buyers to get into their own properties,&rdquo; concluded Mr Bushby.&nbsp;</p> http://www.reisa.com.au/news/further-strong-growth-in-investment-housing http://www.reisa.com.au/news/further-strong-growth-in-investment-housing 9th Dec 13 SA capital city posts restrained growth <p>Spurred on by record-low interest rates, high buyer activity helped push median Australian house prices up 5 per cent nationwide during 2013.</p> <p>Australian Property Monitors (APM) reported that this marks the best annual increase since 2009, when prices rose 12.6 per cent.</p> <p>However, growth was not uniform across the capital cities.</p> <p>&quot;Individual performances, however, remained patchy and mixed both between capital city markets and market segments reflecting the underlying impact of local supply and demand factors,&quot; APM reported.</p> <p><strong>Adelaide boasts stable house price atmosphere</strong></p> <p>When compared to other capital cities, such as Sydney, Adelaide posted modest growth throughout 2013.</p> <p>The median house price in the region is set to increase 2 per cent by the end of the year. However, this marks the first annual increase since 2010.</p> <p>Additionally, the fact that Adelaide has the lowest median house price of all the mainland capitals is good news for home buyers, something those with a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a> should keep in mind, as greater affordability opens up the market to a wider swath of potential buyers.</p> <p>While many buyers have been priced out of markets across the country, particularly first home buyers muscled out by investors, first home buyer activity remains among the highest of all the capital cities in Adelaide.</p> <p>It&#39;s also important to keep in mind that the median price is only 3.4 per cent below previous peak levels in the region, meaning that unlike other capital cities, Adelaide boasts a stable price cycle.</p> <p>Furthermore, 2014 looks to have more growth in store. APM forecasts a rise in prices of between 0 and 3 per cent in the coming year.</p> http://www.reisa.com.au/news/sa-capital-city-posts-restrained-growth http://www.reisa.com.au/news/sa-capital-city-posts-restrained-growth 6th Dec 13 Continued education vital for real estate agents <p>Professional development doesn&#39;t stop once you&#39;ve completed a single course or graduated from a training program.</p> <p>Continued education is key to success in many fields, including real estate.</p> <p>A real estate agent must be licensed to assist in the buying and selling of property on the behalf of others in South Australia, but in an industry that is consistently dealing with changes, both market-based and due to regulations, a licence simply isn&#39;t enough to keep agents on top of their game.</p> <p>Additionally, data from around the globe shows education is a key component when it comes to income success for real estate agents.</p> <p>For example, at the &quot;Learn. Live. Lead. Lifelong Learning and Real Estate Success&quot; forum in the US, experts discussed how professional development is tied to a successful career in real estate.</p> <p>&ldquo;Realtors bring value to home buyers, sellers and investors and as markets transition and real estate transactions become increasingly complex, it&rsquo;s important for successful agents to invest in their education and keep current on the latest issues and technologies affecting their business, especially since data show it pays off,&rdquo; said Lawrence Yun, chief economist with the US-based National Association of Realtors.</p> <p>And what holds true in San Francisco is the same in South Australia and beyond - professional development pays off.</p> <p>The Real Estate Institute of South Australia (REISA) provides a chance for real estate agents to continue their learning with a busy professional development calendar that covers a variety of topics.</p> <p>This allows agents to take <a class="dnautolink" href="http://www.reisa.com.au/training/training">real estate courses</a> that are tailored to their needs, whether they deal with a specialisation or a weak spot agents want to improve.</p> http://www.reisa.com.au/news/continued-education-vital-for-real-estate-agents http://www.reisa.com.au/news/continued-education-vital-for-real-estate-agents 5th Dec 13 Are you suited to a career in property management? <p>There&#39;s no shortage of careers available in the real estate industry, but it&#39;s important to find one that suits your personality and lifestyle.</p> <p>One such career is property management.</p> <p><strong>What is property management?</strong></p> <p>As its name implies, property management is all about taking care of properties, as well as the people who live within them.</p> <p>Not only do property managers deal with things like the marketing and leasing of properties and taking care of maintenance issues, they also handle vital day-to-day operations, such as collecting rent and resolving tenant problems.</p> <p>In general, property managers do anything and everything they can to keep a home looking good and operating profitably.</p> <p><strong>Property management for people persons</strong></p> <p>One of the most important skills necessary to be a successful property manager is being good with people.</p> <p>Interacting with property owners, tenants and other people all day is part of a property manager&#39;s job. This means having the ability to multi-task, prioritise and consistently be available to assist.</p> <p>Organisation and time-management skills are also essential.</p> <p>While property managers will learn plenty on the job, it&#39;s also a good idea to invest in <a class="dnautolink" href="http://www.reisa.com.au/training/property-management-2">property management courses</a> to gain valuable knowledge and insight into the industry.</p> <p>The Real Estate Institute of South Australia (REISA) boasts an industry standard course that can assist with everything from completing important paperwork to understanding the Residential Tenancies Act - all the basics property managers will need to succeed.</p> <p><a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">Real estate training</a> is a great way to gain a better understanding of the business and get a leg up on the competition.</p> http://www.reisa.com.au/news/are-you-suited-to-a-career-in-property-management http://www.reisa.com.au/news/are-you-suited-to-a-career-in-property-management 4th Dec 13 Clarification – Vendor's selling price and the reserve <p>There seems to be some confusion among real estate practitioners about the vendor&rsquo;s acceptable price in the sales agency agreement and the nexus between that and the reserve price in the upcoming legislative changes commencing on 1 January 2014.</p> <p>REISA has consulted with CBS and is able to provide you with the following clarification that is entirely consistent with the training that REISA is currently providing on the legislative changes.</p> <p>In a sales agency agreement for the sale of residential land by auction, the vendor is not able to vary the agreement to increase their acceptable selling price. They are able to vary the agreement to decrease their price at any time but then that new price cannot subsequently be increased.</p> <p>For example, if a vendor has $400,000 as their acceptable price, they cannot vary the sales agency agreement to increase their $400,000 price. However, they can vary the sales agency agreement to decrease their price to say, $350,000. Once the price is lowered, the vendor would then not be able to vary the agreement to increase their price above $350,000.</p> <p>The reserve can be no more than 110% of the vendor&rsquo;s acceptable price as stated in the sales agency agreement. The reserve can be lower than 110% of the vendor&rsquo;s acceptable price.</p> <p>For example, if a vendor has $400,000 as their acceptable price, the reserve can be no more than $440,000. It can be less. If the vendor chooses to vary their acceptable price to $350,000, then the reserve can be no more than $385,000. It can be less.</p> <p>REISA trusts that this information clarifies any concerns that real estate practitioners may have about these provisions.</p> http://www.reisa.com.au/news/clarification-vendors-selling-price-and-the-reserve http://www.reisa.com.au/news/clarification-vendors-selling-price-and-the-reserve 4th Dec 13 Housing more affordable but first home buyers disappearing <p>The Real Estate Institute of Australia (REIA) says that in the September quarter of 2013 the ACT remained the most affordable state or territory in which to buy a home, NSW remained the least affordable and first home buyers are disappearing.<br /> <br /> REIA President Peter Bushby says, &ldquo;The latest Adelaide Bank/REIA Housing Affordability Report shows an improvement in housing affordability with the proportion of income required to meet loan repayments decreasing 1.2 percentage points to 29.8%.&rdquo;<br /> <br /> &ldquo;All states and territories recorded improvements in affordability over the quarter &ndash; the largest in Tasmania, where the proportion dropped by 1.6 percentage points to 24.6%.&rdquo;<br /> <br /> First home buyers made up just 13.6% of the owner-occupier market compared to 14.6% in the June quarter and this figure is one of the lowest since the Australian Bureau of Statistics started to collect data on the activity of first home buyers.<br /> <br /> &ldquo;As we expected, due to the changes in the First Home Owner Grant introduced by the Victorian Government, the number of loans to first home buyers in the state had the biggest quarterly drop across the country.&rdquo;<br /> <br /> &ldquo;The consequences of the availability of the grant to those only purchasing new dwellings are abundantly clear in NSW and Queensland &ndash; the number of loans to first home buyers in these states is 46.7% and 34.5% lower than it was a year ago.&rdquo;<br /> <br /> &ldquo;South Australia and Western Australia both saw a strong increase in the number of loans (excluding refinancing) over the past year.&rdquo;</p> <p>&ldquo;For renters, it became slightly more affordable to rent in Tasmania, but in the Northern Territory, rental affordability fell further with renters paying well above the national average.&rdquo;<br /> <br /> &ldquo;For this and future editions of the Adelaide Bank/REIA Housing Affordability Report, REIA commissioned a review into the methodology of estimating the median weekly family income data. New methodology now in use brings that data in line with the Census.&rdquo;</p> http://www.reisa.com.au/news/housing-more-affordable-but-first-home-buyers-disappearing http://www.reisa.com.au/news/housing-more-affordable-but-first-home-buyers-disappearing 3rd Dec 13 Dwelling approvals increase in October <p>Dwelling approvals are on the rise in South Australia, which may be encouraging news for anyone considering a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a> in the state.</p> <p>Total seasonally adjusted residential building approvals increased by 1.2 per cent over the month of October 2013, according to the latest figures from the Australian Bureau of Statistics (ABS).</p> <p>In the three months to October, total approvals reached above 2,500. This represents a 1.8 per cent increase on the level in the previous three months and a 19.5 per cent increase on the same period in 2012.</p> <p>The nation-wide outlook for housing construction approvals has also improved, increasing by 1.9 per cent between September and October this year.</p> <p>More residential buildings will mean more houses on the market, giving the industry a boost, which is great news for anyone considering <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a>.</p> <p>The dwelling approval data release is the latest in figures signalling future growth in the South Australian property market.</p> <p>Residential house prices rose by 1 per cent in Adelaide in the year leading to September 2013, according to ABS data.</p> <p>During the same period, building construction completions across Australia rose by 4.6 per cent in seasonally adjusted estimates from ABS.</p> <p>These figures are especially prevalent in SA, as the state has experienced growth in this sector for the past six quarters.</p> <p>Whether these new homes will be made available for rent or purchase can be forecast in part by residency figures from ABS.</p> <p>According to 2011 Census data, a large majority of South Australians own their place of residence, with 38.5 per cent owning their home either outright or with a mortgage in SA.</p> <p>This is compared to the national average of just 37 per cent.</p> <p>Real estate agents in SA may find this figure encouraging, as it shows residents in the area are more willing to purchase property than those in other states and territories.</p> http://www.reisa.com.au/news/dwelling-approvals-increase-in-october http://www.reisa.com.au/news/dwelling-approvals-increase-in-october 29th Nov 13 What to look for in an investment property <p>Real estate is regarded as one of the best ways to invest your money.</p> <p>When considering purchasing property to rent out to others, there are several things you should be looking for. Follow this <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> to make sure you make the right decision.</p> <p><strong>Check out the market</strong></p> <p>A good real estate agent should be able to advise you on the ideal market conditions and neighbourhoods in which to buy. You&#39;ll want a property that provides long-term capital growth with the potential to increase in value every few years.</p> <p>While a neighbourhood may be particularly popular currently, that doesn&#39;t mean it will continue to increase in value in the long term. Check out &quot;up and coming&quot; areas that may be more affordable now but can rapidly increase in value over time.</p> <p><strong>Know what you&#39;re looking for</strong></p> <p>It&#39;s a good idea to have a list of criteria that you want your rental property to meet. Whether it&#39;s location, property size, number of bedrooms or perhaps even the potential for it to be lived in by your own family one day, know the kind of place you&#39;re looking for before you set off.</p> <p>You may come across something that surprises you and encourages you to step outside this criteria, but if you narrow down the search field at the start it will likely save you time and effort.</p> <p><strong>Figure out how to add value</strong></p> <p>If your budget is small or you&#39;re just starting out in the investment property market, you may want to start small. That doesn&#39;t mean your house can&#39;t increase in value, however. Sometimes a few simple renovations can lift the market value of a home significantly, so this is a great option if you&#39;re handy with a hammer and a paintbrush.</p> http://www.reisa.com.au/news/what-to-look-for-in-an-investment-property http://www.reisa.com.au/news/what-to-look-for-in-an-investment-property 29th Nov 13 Buying your first home: A timeline <p>Once you&#39;ve decided to purchase your very first home, the steps to make your dream a reality can often start to feel overwhelming.</p> <p>Before you race head first into this big decision, take the time to study up on a few <a href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" class="dnautolink">real estate tips</a> to help you make the right moves at the right time.</p> <p><strong>Before you start looking: Sort your finances</strong></p> <p>Save yourself a world of trauma down the line by getting your finances in order now. Securing a mortgage will usually require you putting down an upfront deposit to show you have the means available to meet repayments.</p> <p>Home loan deposit values vary in South Australia, so it&#39;s always better to have a little more than you think you&#39;ll need than not enough. Put a solid savings plan in place to help you reach this figure and enable you to meet mortgage repayments once you&#39;ve purchased the home.</p> <p>Approach banks and lending institutions and ask as many questions as you can to find out what the best loan solution is for you. Some organisations offer fixed-rate mortgages, while others are floating, with each type having benefits and drawbacks.</p> <p><strong>Before you sign the deal: Inspect the property</strong></p> <p>If you&#39;ve found the house of your dreams and have your finances figured out, don&#39;t sign the purchase and sale agreement before you get the house and land inspected by professionals.</p> <p>An inspection can help point out potential issues with the home, such as termites, structural problems or hidden damage. Often inspectors will look at a home&#39;s heating systems, electricity and plumbing. They&#39;ll provide you with a report outlining any concerns they may have with the property. After this you should be able to finalise your decision to buy or not buy the house.</p> http://www.reisa.com.au/news/buying-your-first-home-a-timeline http://www.reisa.com.au/news/buying-your-first-home-a-timeline 28th Nov 13 Job satisfaction is high in Australia <p>If you&#39;re currently happy in your <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a>, you&#39;re contributing to the overwhelmingly positive job satisfaction rates in Australia.</p> <p>New research from Roy Morgan shows job satisfaction in the lucky country is strong, with 75.4 per cent of us describing ourselves as being either satisfied or very satisfied in our current job. This is despite the same research showing over a quarter of us work more than 40 hours a week, despite the official full-time working week being set at 38 hours.</p> <p>Those real estate agents guilty of staying glued to their desks and cell phones throughout the day may make up the one in five Australians who work over 60 hours a week. If this sounds like you, it might be time to consider striking a more effective work/life balance!</p> <p>Despite our long hours, 32.5 per cent of us claim to be very satisfied in our current positions. Job satisfaction can come from a range of different factors, especially in the real estate industry.<br /> Contributors include a sense of job security, healthy salary and recognition of work well done.</p> <p>Because many agents effectively manage their own workloads and dictate how much time and effort they put into their role, it would make sense for those in the real estate market to contribute to positive job satisfaction figures.</p> <p>Half of all Australians surveyed feel secure in their jobs, and of those, almost 90 per cent are either satisfied or very satisfied in their positions. This suggests the link between job security and satisfaction is a strong one indeed.</p> <p>Of those who believe their pay is good or very good (almost half of Australians), over 87 per cent are satisfied or very satisfied in their work.</p> http://www.reisa.com.au/news/job-satisfaction-is-high-in-australia http://www.reisa.com.au/news/job-satisfaction-is-high-in-australia 28th Nov 13 Everything you need to know about real estate in Adelaide <p>If you&#39;re just starting out on your <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a> or are a professional new to the area, it&#39;s important you get to grips with Adelaide&#39;s thriving property market.</p> <p>Run through the following information so you&#39;re properly equipped to offer <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> to buyers and renters in the community.</p> <p><strong>Median price</strong></p> <p>The median house sale price over the past 12 months in Adelaide is $494,000. To rent, the median price is $420 per week. However, these prices fluctuate depending on how many bedrooms the property has.</p> <p><strong>Demand</strong></p> <p>Adelaide has an in-demand housing market, with an average of 22 people looking at any given property in Adelaide, increasing to 29 people for SA properties as a whole.</p> <p><strong>Who lives here</strong></p> <p>The bulk of Adelaide&#39;s population is made up of independent youths, with those aged under 35 comprising just over 35 per cent of all people living here. The second largest group of people residing in the area are those in the maturing and establishing independence category, made up of families, couples, extended families and single parents aged between 33 and 44.</p> <p>Elderly singles make up the third largest group of people in Adelaide.</p> <p><strong>Tell me more</strong></p> <p>Adelaide has a population of just over one million people, and is well regarded for its compact nature where major beaches and the airport, among other features, are close to the city centre.<br /> According to 2011 Census data, just under 80 per cent of all dwellings in Adelaide are separate houses, while just under 10 per cent are units or flats. On average, 2.4 people live per household.</p> <p>In terms of tenure, around 33 per cent of all homes are owned outright, with another 35 per cent owned with a mortgage. About 28 per cent are rented, so there is a great opportunity here for real estate agents and property managers alike.</p> http://www.reisa.com.au/news/everything-you-need-to-know-about-real-estate-in-adelaide http://www.reisa.com.au/news/everything-you-need-to-know-about-real-estate-in-adelaide 28th Nov 13 What you need to know about the First Home Owner Grant <p>Whether you&#39;re thinking about investing in your very first home or you&#39;re just getting your South Australia <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a> underway, you&#39;ll need to know about the First Home Owner Grant (FHOG).</p> <p>The SA Government pays the FHOG after an application has been submitted to RevenueSA or a financial institution authorised by RevenueSA, and approved by the same. The FHOG applies to purchasing or constructing residential properties including houses, units, townhouses, flats, and apartments, as long as they meet local planning standards.</p> <p>The size of the grant you&#39;re eligible for depends on the date of the contract to purchase or build a home, or the date when construction began for owner builders.</p> <p>For new homes, you can receive up to $15,000 for eligible transactions entered from 15 October 2012. You can get up to $7,000 for transactions from 1 July 2002 to 14 October 2012.</p> <p>Established homes can get up to $5,000 for eligible transactions entered into from 22 November 2012 to 30 June 2014, and up to $7,000 for transactions from 1 July 2000 to 21 November 2012.<br /> Currently the FHOG applies to new and established homes, but as of July 2014 it will no longer be available for established houses.</p> <p>The property must be occupied as the applicant&#39;s main dwelling for at least six months (continuous) within 12 months of the date of settlement of purchase, or from the date construction finishes.</p> <p>Further eligibility criteria includes having at least one Australian citizen or permanent resident as the applicant for the FHOG. Applicants and spouses/domestic partners must not have owned a residential property anywhere in Australia before 1 July 2000.</p> <p>Young investors may have to wait a while before they can make their big purchase, as each applicant must be at last 18 years of age when they make an application for the grant.</p> http://www.reisa.com.au/news/what-you-need-to-know-about-the-first-home-owner-grant http://www.reisa.com.au/news/what-you-need-to-know-about-the-first-home-owner-grant 28th Nov 13 Tips on finding a rental when you're new to a city <p>Relocating to a new city can be daunting enough as it is, not to mention stressful. Add in the task of finding a rental home to live in and it can sometimes start to feel overwhelming.<br /> <br /> Thankfully, there are ways you can prepare yourself to make finding a new home much easier. Follow these <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate tips</a> to help you settle into somewhere special.<br /> <br /> <strong>Research the area</strong><br /> <br /> If you&#39;re moving for a new job, take a look at suburbs surrounding your new office for potential neighbourhoods. Unless you love commuting, there&#39;s no point moving for work and then renting a house an hour away from your new office?.<br /> <br /> If you fall in love with a property that&#39;s a bit further away from work than you&#39;d like, look into public transport options in the area. Adelaide has trains, trams and buses servicing surrounding areas regularly, so you might find an out of reach home is more accessible than you think.<br /> <br /> <strong>Compare prices</strong><br /> <br /> Before you rush into signing a lease, take the time to compare the price of your new place with others of similar calibre in the area. Look at other listings to make sure you&#39;re getting a fair deal on the home before you commit to anything. This will also allow you to check out other homes you may end up liking more than the one you initially wanted.<br /> <br /> <strong>Come prepared</strong><br /> <br /> Many real estate agents and property managers will require references as part of your application process. It&#39;s likely they&#39;ll ask you to fill out forms and provide other information before you can apply to rent a property, so make sure you have all these details on hand to speed up the process.</p> http://www.reisa.com.au/news/tips-on-finding-a-rental-when-youre-new-to-a-city http://www.reisa.com.au/news/tips-on-finding-a-rental-when-youre-new-to-a-city 28th Nov 13 How the other half lives – Part II <p><span style="font-size: 1em; line-height: 1.5em;">Due to the record breaking numbers of you that read the first story on </span>Vella<span style="font-size: 1em; line-height: 1.5em;"> Real Estate, I thought that my follow-up visit to their office was worthy of a sequel.&nbsp; Hopefully in the lines of The Godfather Part II and not Legally Blonde 2.</span></p> <p>While the number of readers of the first instalment may have been slightly inflated due to Anthony and his staff posting a link to the REISA story in their email signature, I was still very pleased at their continuing promotion of REISA and their obvious pride at being a member.</p> <p>The sales legislation training session went smoothly.&nbsp;&nbsp; After drilling Anthony and Don about the prescribed offences and making sure they understood price representations and the difference between handing out comparable versus recent sales to a prospective purchaser, it was once again off to the coffee shop so favourably reviewed in Part I.</p> <p>In particular, we talked a lot about the state of the market.&nbsp; It was great to hear that Anthony and Don believed that real estate seemed to be definitely on the upswing, that there was increased confidence among vendors and purchasers about entering the market and that there was a general feeling of optimism out there in the marketplace.&nbsp; Their passion and excitement about all things real estate was once again clearly on show.</p> <p>We also had a great conversation about industry practices and how the new legislation would make auction processes more transparent and accountable.&nbsp; These sorts of conversations are invaluable because they assist REISA in understanding what is going on at the coalface and how the legislation is or isn&rsquo;t working. However, Anthony then came out with the line of &ldquo;we are all competitors but we all need to learn to be nice to each other&rdquo; and I quickly lost interest after that.</p> <p>They attempted to revive me with tales of Vella&rsquo;s participation in the Norwood Christmas pageant and Don&rsquo;s idea for a &ldquo;REISA picnic&rdquo; but at this stage I was getting a little nervous about my upcoming session with the property management team.&nbsp; I have however, passed the picnic idea on to the Marketing team.</p> <p>Then it was off to the tough part of the afternoon.&nbsp; And as I predicted, this proved to be a hard sell.&nbsp; The friendly coffee shop atmosphere disappeared and I was grilled with questions about the impending property management legislation.&nbsp; Fair enough.&nbsp; I could not answer some of the questions but assured them that their &ndash; and everyone&rsquo;s concerns expressed throughout the training sessions &ndash; had been submitted to Government and that they had promised to go through them in detail and clarify any remaining issues.&nbsp;</p> <p>Rest assured, as soon as I know the answers, REISA will be incorporating them into fact sheets so that everyone knows the answers.&nbsp;</p> <p>They then forced me to agree to come back in January to finish the training when all the answers were in &ndash; and it was then that I thought I may as well do my Certificate IV and join their team.&nbsp; After all, Anthony had been very cagey when I questioned him about his expansion plans.&nbsp; Just to make sure, I left my CV at the front desk when I left.</p> <p>So here ends Greg&rsquo;s project for this REISA staffer.</p> <p>Thanks to the Vella team for showing me around and for giving me a good insight into the life of a real estate agent.</p> <p>All in all it was a great experience and I look forward to whatever enters Greg&rsquo;s head next.</p> <p>&nbsp;</p> <p><strong>Paul Edwards</strong></p> <p><strong>Policy Project Manager</strong></p> http://www.reisa.com.au/news/how-the-other-half-lives-part-ii http://www.reisa.com.au/news/how-the-other-half-lives-part-ii 27th Nov 13 To refer or not to refer, that is the question? <p>It would seem that the hornets&rsquo; nest has been disturbed on this one &ndash; can an Agent refer their client to a Conveyancer?</p> <p>The short answer is yes.</p> <p>The long answer is yes BUT&hellip;..</p> <ul><li>If you do refer, make absolutely certain that there is no way you can be accused of referring to a particular Conveyancer because of some side deal/kickback (no matter how small), Christmas lunch option, or any other matter; AND</li> <li>If you do refer, make absolutely certain you are acting in the best interests of your client at all times (and not because of any reason that might benefit you or your firm).</li> <li>If you do refer, and do not follow the previous two dot points (or cannot defend your decision on an evidentiary basis regarding the above) then expect that a maximum penalty of $20k could apply to you.</li> </ul> <p>Too simplistic? Probably.&nbsp; Final word &ndash; if you can&rsquo;t defend your decision to refer when and if you are questioned and end up on the front page of the Advertiser, then think again about your decision. Is REISA being too conservative? Probably but after all, it is your business decision to refer or not to refer!</p> http://www.reisa.com.au/news/to-refer-or-not-to-refer-that-is-the-question http://www.reisa.com.au/news/to-refer-or-not-to-refer-that-is-the-question 22nd Nov 13 Real estate resolutions for 2014 <p>It&#39;s often at this time of year that people start thinking of New Year&#39;s resolutions.</p> <p>If you&#39;re a professional with a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a>, why not make a special set of resolutions this December 31st?</p> <p><strong>Improve your skillset</strong></p> <p>Rather than giving up smoking or exercising regularly (or, perhaps, as well as!), why not look for ways to better your career?</p> <p>For some this may mean putting in more hours at the office, while others could set themselves specific targets to meet throughout the year.</p> <p>One way to improve your property career is by updating your skillset with a professional course. REISA offers a range of papers and <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a> to help you meet your goals faster and more effectively. You could simply brush up on your legislation or delve into the world of property management.</p> <p><strong>Focus on your work/life balance</strong></p> <p>More than a quarter of all Australians in paid full time work spend more than 40 hours a week doing their job, according to a new Roy Morgan study. If you find yourself sitting in your office long after everyone goes home, or taking your work home with you at the weekend, it might be time to address your work/life balance.</p> <p>You could start simply by removing distractions at work to avoid procrastinating. Set regular goals throughout the day to have set tasks completed by certain times, and avoid the temptation to gossip the day away with your coworkers.</p> <p>If you&#39;ve improved your focus and you&#39;re still finding there are simply not enough hours in your day, it might be time to have a chat to your manager about scaling back your workload or responsibilities.&nbsp;</p> http://www.reisa.com.au/news/real-estate-resolutions-for-2014 http://www.reisa.com.au/news/real-estate-resolutions-for-2014 22nd Nov 13 Renovate your rental property <p>If you&#39;re the owner, landlord or property manager of a home rented out to tenants, it might be time to think about investing in some renovations to keep the property in top condition.</p> <p>If you&#39;re still in the process of deciding whether to rent out your property, consult the experts at REISA for quality <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> to help you on the way.</p> <p>No matter what your budget is, there are plenty of ways to make your property attractive to tenants.</p> <p><strong>Heating</strong></p> <p>Consider installing insulation in your home to help keep it cooler in summer and warmer in winter. This will cut down on your tenants&#39; heating costs and make it much more appealing to renters looking for a warm, comfortable home to live in.</p> <p>Start with installing good quality insulation in the ceiling, before moving to the floor then the walls and windows. Make sure you block any draughts to ensure it&#39;s effective.</p> <p><strong>Decor</strong></p> <p>A fresh look of paint can instantly transform any space and give it a new lease on life. Avoid going for anything too bright or patterned as it may turn away some renters with discerning taste. Neutrals like white, cream and grey are safe bets as they allow tenants to add their own personal touches to make the house feel like home.</p> <p>If you do want to add a splash of colour, consider a feature wall in a contrasting hue to the rest of the house.</p> <p><strong>Home office</strong></p> <p>Consider converting the spare single bedroom into a study or home office space. Add a built-in bookshelf and you might find you receive interest from a whole new pool of tenants looking for a house with space to work from home.</p> http://www.reisa.com.au/news/renovate-your-rental-property http://www.reisa.com.au/news/renovate-your-rental-property 22nd Nov 13 REISA scores seventeen legislative touchdowns <p><span style="line-height: 1.5em; font-size: 1em;">Back in June, </span>REISA<span style="line-height: 1.5em; font-size: 1em;"> put forward a comprehensive submission to the Government on the Sales Regulations.</span></p> <p>The submission contained seventeen proposals designed to streamline the business of real estate professionals, cut red tape and make life easier for agents working at the coalface.</p> <p>We importantly however, made sure that there were enough consumer protections built into each proposal so that everyone came out a winner.</p> <p>Over the last five months we have lobbied Government hard, argued our case, negotiated the fine points and worked tirelessly to turn our submission into reality.</p> <p>Yesterday the Government officially gazetted the Regulations.</p> <p>And every one &ndash; yes every one &ndash; of our proposals was accepted by the Government.</p> <p>In fact, we are proud to say that the Regulations contain no other proposals other than those that we put forward.</p> <p>It is a complete triumph for REISA and acknowledgement of our position as the voice of real estate in South Australia.</p> <p>However, we are only as good as our members.&nbsp; If we want to continue to be able to deliver stunning results such as this, we need to hear from you, we need you to be active and we need you on board so that we can always be a powerful tool for change.</p> <p>Counting down our legislative Top Ten Touchdowns:</p> <p><strong>Number 10</strong> &ndash; The vast majority of small business vendors no longer have to seek information relating to the Livestock Act.</p> <p><strong>Number 9</strong> &ndash; Agents can backcapture their sales agency agreements and notices of offer electronically and get rid of the originals.</p> <p><strong>Number 8</strong> &ndash; The notice to purchasers in the Offer forms has been rewritten to assist purchasers understand their cooling-off obligations.</p> <p><strong>Number 7</strong> &ndash; Agents no longer have to hand out or read out the collusive practices warning &ndash; just simply have it on display.</p> <p><strong>Number 6</strong> &ndash; If an associate is gaining a s24G beneficial interest, they pay for the formal valuation, not the agent.</p> <p><strong>Number 5</strong> &ndash; The collusive practices warning has been rewritten to assist our rural members.</p> <p><strong>Number 4</strong> &ndash; The Financial and Investment advice warning can be given verbally.</p> <p><strong>Number 3</strong> &ndash; Agents can email the vast majority of real estate documents.</p> <p><strong>Number 2</strong> &ndash; Sales agency agreements can be in 10 point type.</p> <p><strong>And our greatest achievement -</strong></p> <p><strong>Number 1 &ndash; Agents can email the Form 1 vendor&rsquo;s statement.</strong></p> <p>2014 is shaping up to be a great year.</p> http://www.reisa.com.au/news/reisa-scores-seventeen-legislative-touchdowns http://www.reisa.com.au/news/reisa-scores-seventeen-legislative-touchdowns 20th Nov 13 What shape is your ball? <p>Which is better, cricket or footy? Join REISA this month for the Members Christmas Lunch, and listen to the ultimate battle of the balls.</p> <p>On Friday, November 29 at the Adelaide Oval, guests will be invited to join REISA, South Australia&#39;s peak body for real estate careers, and a host of sports personalities for a three course lunch and plenty of entertainment. The event seeks to finally answer the age old question of whether cricket or footy is the better sport.</p> <p>Current media commentator and former Port Adelaide Magpies footballer and coach Tim Giniver will host the lunch, which starts at 11:30 a.m. Members, non-members and groups are invited to join in the fun, making it the perfect opportunity to celebrate the silly season with work mates or clients.</p> <p>Joining in on the raging debate will be Rob Chapman, CEO of St George Bank and chairman of the Adelaide Football Club among many other impressive roles. With his football ties it&#39;s not hard to see which way Rob will be leaning!</p> <p>Representing fans of the baggy green and spinning ball, Wayne Phillips played both state and country cricket over the course of his 13-year first-class career. The left-handed batsman and wicketkeeper first became involved in full-time coaching in 1996 at Adelaide&#39;s Australian Cricket Academy. He&#39;s also occasionally a commentator at the Nine Network.</p> <p>Rounding out the panel is Andrew Sinclair, a tax specialist who is also expert in fundraising and business law. He can talk the ear off anyone about CGT, GST and superannuation law, and frequently presents on taxation matters in South Australia and other states. Another of Andrew&#39;s passions, however, is cricket. He directs the Adelaide Oval SMA Ltd and is the current President of the South Australian Cricket Association, so you can bet he&#39;ll be batting for the gentleman&#39;s sport.</p> http://www.reisa.com.au/news/what-shape-is-your-ball http://www.reisa.com.au/news/what-shape-is-your-ball 20th Nov 13 How to make your rental house feel like a home <p>If you&#39;ve just secured a rental property, you might be considering ways to turn the house into a home for you and your family.</p> <p>Tenancy agreements based on <a href="http://www.reisa.com.au/membershipinformation/membership" target="_blank">real estate legislation</a> will often prevent you from altering the structure or paint of a home, but there are plenty of smaller touches you can add to make the space seem like your own.</p> <p><br /> <strong>Rugs</strong></p> <p>If the carpet is threadbare or an unattractive colour, you can quickly camouflage it by throwing down a trendy rug. You can choose from a variety of colours, styles and sizes at a range of price points, and you can move them around rooms regularly to quickly update them.</p> <p>Rugs are also a great way of making cold wooden or concrete floors seem softer and more cosy.</p> <p><br /> <strong>Utilise wall space</strong></p> <p>If you&#39;re not allowed to touch the walls with a paintbrush, you might need to get a bit more creative when it comes to detracting attention away from old-fashioned wallpaper or garish colours.</p> <p>Depending on your taste, there are many ways you can do this. If you&#39;re into music or the arts you can decorate walls with posters and mementos of your favourite bands, movies or stage shows. If you&#39;re an avid artist, turn a room into your gallery and display your wares on every available surface.</p> <p>Almost anything can be wall-mounted these days, so if your rental is pushed for space you could consider storing items up your walls. Books, ornaments, crockery, jewellery and even shoes can all be creatively hung at different heights to add a point of difference to a room and also save as much precious space as possible.</p> <p><br /> <strong>Furnishings</strong></p> <p>If you have a particularly outlandish or lavish sense of style but feel like you can&#39;t express that in a rental home, think again. You can simply channel these energies into smaller pieces and choose an outrageously bright and patterned duvet cover, the most exquisite dining table you can find or the funkiest clock you&#39;ve ever seen.</p> <p>Don&#39;t let the fact that you can&#39;t paint the walls deter you from expressing yourself in your new home!</p> http://www.reisa.com.au/news/how-to-make-your-rental-house-feel-like-a-home http://www.reisa.com.au/news/how-to-make-your-rental-house-feel-like-a-home 15th Nov 13 Considering a career change? Why not try real estate? <p>These days it&#39;s not uncommon to go through several career changes in your lifetime. As you grow older, develop new skills and change your interests, it&#39;s only natural that you might start looking for a new career path.</p> <p>If you&#39;re interested in the property market, a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a> could be a perfect fit for you. You&#39;ll need commitment and drive, but there are great benefits to a role in this sector.</p> <p>Before you dive headfirst into the real estate world, you&#39;ll need to think about training and accreditation. To properly kick start your new property career you should get <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a> from an industry leader. This is where REISA comes in.</p> <p>REISA offers a range of high level courses to help novices and experts alike achieve their real estate goals. The courses are accredited, so all achievements are nationally recognised, and you can even receive university credit for REISA study.</p> <p>For a career in real estate sales you should consider completing the Certificate IV in Property Services (Real Estate) before registering with Consumer and Business Services. Those more interested in property management should take the Certificate in Residential Property Management - Level 1 (Essentials) course.</p> <p>Many people begin their property careers in administrative support. If this sounds like something you&#39;re interested in, you could take either the Certificate III in Property Services (Agency) or Certificate IV in Property Services (Real Estate).</p> <p>The Certificate IV in Home Sustainability Assessment will take you through a wide range of home sustainability topics, including assessing energy and water usage and managing client complaints. It offers units of competency which tie into requirements of the Habitat Partner program and the SA Government&#39;s REES assessor program.</p> <p>There are many other courses to choose from, so if a career in real estate sounds like a good choice for you, get in touch with REISA today.</p> http://www.reisa.com.au/news/considering-a-career-change-why-not-try-real-estate http://www.reisa.com.au/news/considering-a-career-change-why-not-try-real-estate 14th Nov 13 Australia's top suburbs in October <p>Anyone with a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a> or an interest in the Australian property market will be interested to learn about the top suburbs in the nation for the last quarter.</p> <p>Real estate.com.au has announced the most in-demand suburbs across the country, and South Australia has once again topped the list.</p> <p>For the third time in 2013, Parkside has come out as the most demanded suburb by both buyers and investors alike. Interestingly, Victorian suburbs have climbed the ranks and NSW suburb Freshwater has come from nowhere to reach second place on the nationwide top 10.</p> <p>If your property is in a suburb that has made the top 10, one good piece of <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> is to consider selling it, as the results show there&#39;s considerable demand in the area. This means you can expect to get a higher price for your property, and will likely have more interest from buyers.</p> <p>SA&#39;s Belair has placed third on the list, followed by Newmarket (Qld), Surrey Hills (Vic), Ashwood (Vic), Blackburn South (Vic), Fitzroy North (Vic), Stanmore (NSW) and Fullarton (SA).<br /> White the NT didn&#39;t make the national list, their state top 10 shows Leanyer maintaining its first-ranked position for the second consecutive quarter. Coconut Grove and Rapid Creek round out the top three.</p> <p>In WA, Bull Creek has dropped from second to 10th over the past three months, and seven new suburbs have reached the top 10 rankings. Nedlands holds the top spot for the most in-demand suburb, followed by Boogaroon and Mount Hawthorn.</p> <p>The ACT sees Watson and Griffin maintain their places in the top five, where they have stayed for six months. Wright, however, has pipped them at the post for the best ranking.</p> <p>Finally, West Hobart is the hottest spot in Tasmania, with North Hobart and Bellerive closing out the top three.</p> http://www.reisa.com.au/news/australias-top-suburbs-in-october http://www.reisa.com.au/news/australias-top-suburbs-in-october 12th Nov 13 A word of warning from ASIC <p>Agents are being warned about providing <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> to investors regarding using a self-managed superannuation fund (SMSF) to invest in property.</p> <p>The Australian Securities and Investments Commission (ASIC) says that agents must ensure they are properly licensed to provide advice before they recommend using SMSFs to invest. ASIC is working with the Real Estate Institute of Australia (REIA) to make agents aware of their responsibilities.</p> <p>Real estate agents require an Australian financial services (AFS) licence in order to make statements of opinion or recommendations to anyone using an SMSF to buy property. Agents must also ensure they comply with the Corporations Act 2001.</p> <p>ASIC believes that real estate agents may not be aware of these obligations, which is particularly risky given the rise in popularity of SMSFs and property investment. It has written to state and territory real estate institutes and property investment associations, along with REIA, setting out concerns and asking the real estate bodies to communicate these with members.</p> <p>ASIC Commissioner Greg Tanzer said ASIC&#39;s role is to regulate the gatekeepers in relation to SMSFs.</p> <p>&quot;We want to ensure the SMSF sector remains healthy and vibrant so investors can be confident that, if they are receiving advice about investing through an SMSF, their advisor holds an Australian financial services licence and is aware of its obligations,&quot; he said.</p> <p>According to ASIC, a person without an AFS licence or AFS licensee authorisation is only eligible to provide factual SMSF information to consumers. If a person is found to carry on unlicensed financial services business, they may be subject to imprisonment for two years, a fine of up to $34,000 or both.</p> <p>A convicted company may be liable for penalties, too, and can be fined up to $170,000.</p> http://www.reisa.com.au/news/a-word-of-warning-from-asic http://www.reisa.com.au/news/a-word-of-warning-from-asic 11th Nov 13 First home buyers An endangered species <p>The Real Estate Institute of Australia (REIA) says the latest housing finance figures released by the Australian Bureau of Statistics (ABS) show that first home buyers are now at a record low despite total lending for housing growing in response to interest rate cuts and the more positive housing outlook for much of the country.</p> <p>Housing finance figures for September 2013 show, in trend terms, that the number of owner-occupied finance commitments rose by 0.4 per cent &ndash; following increases of 0.7 per cent in August and 1.0 per cent in July. This was the lowest monthly increase, in trend terms, since December 2012.</p> <p>If refinancing is excluded, in trend terms for September, there&rsquo;s been no change over the previous month.</p> <p>REIA President, Peter Bushby says, &ldquo;Increases were recorded in all states except Western Australia with the largest increase in the Australian Capital Territory, up 1.9 per cent, in trend terms.&rdquo;</p> <p>&ldquo;Though slowing down, increases continue with the purchase of established dwellings up 0.5 per cent in trend terms and the number of commitments for the construction of new dwellings up 0.3 per cent in trend terms,&rdquo; Mr Bushby continued. &ldquo;However the purchase of new dwellings fell by 1.1 per cent.&rdquo;</p> <p>The value of investment housing commitments rose by 1.5 per cent, in trend terms, in September resulting in well over a year of consecutive monthly increases.</p> <p>&ldquo;The proportion of first home buyers in the number of owner-occupied housing finance commitments fell to 12.5 per cent compared to the August figure of 13.7 per cent and is the lowest figure since data began to be collected in July 1991. It is far lower than the long-run average proportion of 20.1 per cent, despite eight interest rate cuts since November 2011.&rdquo;</p> <p>&ldquo;With the proportion of first home buyers at historic lows and figures indicating no bubble in lending, the Reserve Bank Board should be taking a &lsquo;steady as she goes&rsquo; approach in December,&rdquo; concluded Mr Bushby.</p> http://www.reisa.com.au/news/first-home-buyers-an-endangered-species http://www.reisa.com.au/news/first-home-buyers-an-endangered-species 8th Nov 13 Renting vs buying your home <p>It&#39;s a question many people face at some stage in their lives: Should I rent or buy my next property?</p> <p>There are a number of factors to consider when making the big decision, so strap yourself in for the following <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a>.</p> <p>For many years, experts have claimed that rent money is dead money. You can spend years paying regular rent on a home without coming out of it with any asset at the end, whereas with a mortgage you eventually end up with a home to call your own.</p> <p>Recently, however, Australians have started to come around to the idea of renting homes. Data from the 2011 Australian Census showed a slight decline in outright home ownership from 2006 results, and a slight increase in rental tenures over the same period.</p> <p>Homes can be a huge investment, and it doesn&#39;t just stop when you&#39;ve made the initial deposit. Houses cost money to run, plus you&#39;ll need insurance and no doubt have rates to pay too. If something breaks or goes wrong in your home, as the owner it&#39;s up to you to fix it. When you&#39;re renting, these costs often go to your landlord or property manager.</p> <p>Generally, rent on homes is less than what the mortgage repayments are. This allows renters to spend or invest money saved on other things.</p> <p>Home owners, on the other hand, often get a sense of pride in having their own place. When you own a property you can make as many renovations and redecorations as you like, without having to check with the landlord.</p> <p>A home is also an asset that can be used as security when applying for loans. Making home loan repayments is also often seen as compulsory saving, plus there&#39;s the added benefit of knowing you only have to move out when you decide the time is right, not when the property manager or owner tells you to.</p> http://www.reisa.com.au/news/renting-vs-buying-your-home http://www.reisa.com.au/news/renting-vs-buying-your-home 8th Nov 13 ASIC warns real estate industry about recommending property investment <p>ASIC has warned the real estate industry that agents recommending investors use a self-managed superannuation fund (SMSF) to invest in property must ensure they are appropriately licensed to provide the advice. ASIC is working with the Real Estate Institute of Australia (REIA) to ensure that real estate agents understand their legal obligations.<br /> <br /> ASIC has written to the REIA, the state and territory real estate institutes and property investment associations (real estate bodies), setting out ASIC&#39;s concerns and asking the real estate bodies to communicate these to its members.<br /> <br /> ASIC is concerned that with the increased popularity of SMSFs and property investment, real estate agents may not realise they are providing financial product advice and need an Australian financial services (AFS) licence when making recommendations or statements of opinion to a person to use an SMSF to invest in property. If providing this advice, agents must ensure they comply with legal obligations under the Corporations Act 2001.<br /> <br /> <strong>ASIC&rsquo;s letters to the REIA and the real estate bodies warn that:</strong></p> <ul><li>If a person does not hold an AFS licence or is not authorised by an AFS licensee, they can only provide factual information to consumers in relation to SMSFs.</li> <li>Where an AFS licence is required, real estate agents must immediately cease offering and providing financial services or advertising the provision of financial services until such time as an AFS licence is obtained or they become a representative of an AFS licence holder.</li> <li>A person convicted of carrying on an unlicensed financial services business may be subject to a fine of up to $34,000 or imprisonment for 2 years or both. If a company is convicted it may also be liable to penalties, including a fine of up to $170,000.</li> </ul> <p><br /> ASIC Commissioner Greg Tanzer said ASIC&rsquo;s role in relation to SMSFs is to regulate the gatekeepers &ndash; the advice providers, SMSF auditors, and providers of products and services to SMSFs.<br /> <br /> &lsquo;We want to ensure the SMSF sector remains healthy and vibrant so investors can be confident that, if they are receiving advice about investing through an SMSF, their adviser holds an Australian financial services licence and is aware of its obligations&rsquo;, Mr Tanzer said.<br /> <br /> ASIC is aware some real estate agents are offering commissions or benefits to financial advisers for recommending that investors use an SMSF to purchase the real estate agents&#39; properties. Such commissions or benefits may be conflicted remuneration and financial advisers may be banned from receiving them under the Future of Financial Advice (FOFA) reforms. This is because the commissions or benefits could reasonably be expected to influence the financial product advice given to retail clients.</p> <p><a href="https://www.asic.gov.au/asic/asic.nsf/byHeadline/13-304MR%20ASIC%20warns%20real%20estate%20industry%20about%20recommending%20property%20investment%20through%20SMSFs?opendocument#letterletter" target="_blank">Read Content of ASIC&#39;s letter to the REIA. &nbsp;</a></p> http://www.reisa.com.au/news/asic-warns-real-estate-industry-about-recommending-property-investment http://www.reisa.com.au/news/asic-warns-real-estate-industry-about-recommending-property-investment 8th Nov 13 Housing supply data is crucial <p>REIA President Peter Bushby says the decision to abolish the National Housing Supply Council could&nbsp;signal the end to much needed data to formulate housing policy.&nbsp;<br /> <br /> The National Housing Supply Council was established in 2008 to monitor housing demand, supply and &nbsp;affordability in Australia and to identify gaps between housing supply and demand.&nbsp;<br /> <br /> &ldquo;With housing affordability recognised as a policy priority, it is imperative that the information contained in the Council&rsquo;s State of Supply Report continues to be available,&rdquo; according to Mr Bushby.</p> <p>&ldquo;The document&nbsp;provided valuable information, not only to Government policy makers but also to industry.&rdquo;&nbsp;</p> <p>Mr Bushby says the availability of affordable housing is a goal that is shared by governments and all&nbsp;<br /> sectors of the community. Availability of affordable housing impacts on the functioning of the economy as well as the wellbeing of individuals and the cohesiveness of communities and society.&nbsp;</p> <p>One of the factors that contributes to increases in house prices is the undersupply of housing. Supply has&nbsp;been unable to keep pace with demand due to constraints on land availability, lengthy planning delays and &nbsp;associated costs of approvals, zoning policies, skill shortages and lower yields stemming from the &nbsp;increased cost of entering the property investment market.&nbsp;<br /> <br /> REIA has called for the Federal Government to develop a coordinated and strategic approach to the&nbsp;<br /> provision of housing and ensure that complementary policies, covering amongst other things first home &nbsp;buyers and taxation, are in in place to achieve this.&nbsp;<br /> <br /> The availability of reliable data to formulate appropriate policies and then to monitor their effectiveness is&nbsp;crucial to this.&nbsp;</p> <p>&nbsp;</p> http://www.reisa.com.au/news/housing-supply-data-is-crucial http://www.reisa.com.au/news/housing-supply-data-is-crucial 6th Nov 13 Take a swing for a good cause at REISA's Charity Golf Day <p>REISA&#39;s upcoming event combines two of Australia&#39;s favourite pastimes - golf and supporting charity. The great news is that you can be a part of it!</p> <p>Get a team together for a day on the green on Friday November 15. It&#39;s the perfect opportunity for corporate team building, or simply gathering some mates together to find out who&#39;s the real master of sport.</p> <p>If for some reason you can&#39;t convince your mates to join in the golfing fun, don&#39;t worry - REISA will match you up with other players and you&#39;ll form a whole new team.</p> <p>The North Adelaide Golf Course will host the day-long REISA Charity Golf Day, which supports the Little Heroes Foundation. This charity supports seriously ill children and their families by raising funds for equipment, services and providing daily support to those affected by illness.</p> <p>Along with supporting a fantastic cause, the event will celebrate all levels of golfing ability. It doesn&#39;t matter if you&#39;re a beginner, an amateur or an almost-pro, the ambrose format will ensure that everyone can enjoy the game equally.</p> <p>If you&#39;ve got a competitive streak (and let&#39;s face it, who doesn&#39;t?) you will be pleased to know that there are great prizes up for grabs. Register your team and you&#39;ll be eligible to play for the prestigious REISA Corporate Cup.</p> <p>In even better news, REISA can confirm that the event will feature guest speakers Greg Blewett, who entertains the masses as a Fox Sport commentator, and Wayne &quot;The Weed&quot; Weidemann, who will forever be remembered as an Adelaide Crows player.</p> <p>You&#39;ll get lunch and refreshments on the course, plus dinner and drinks with Greg and Wayne. What more could you ask for?</p> http://www.reisa.com.au/news/take-a-swing-for-a-good-cause-at-reisas-charity-golf-day http://www.reisa.com.au/news/take-a-swing-for-a-good-cause-at-reisas-charity-golf-day 6th Nov 13 A New President for REISA <p>The Real Estate Institute of South Australia has welcomed a new President after Mr Ted Piteo was elected at the Annual General Meeting at REI House on Monday.<br /> <br /> Mr Piteo, also the CEO of Professionals South Australia, has accepted the role and said that it is an absolute honour to serve at the pleasure of REISA members.</p> <p>Mr Piteo has served on the REISA Board of Directors for four years with the past two years as Vice President.<br /> <br /> &ldquo;Having gained invaluable experience as a Board member and Vice President, I feel I have the necessary expertise to continue to move REISA and the industry forward. It&rsquo;s an exciting time for the industry and I look forward to developing a new scope of objectives including expanding the training and development within the industry.<br /> <br /> My commitment to the membership as President is to ensure that REISA provides leadership on key industry issues and is a strong voice for housing in South Australia,&rdquo; he said.</p> <p>&ldquo;We have a strong growth strategy and our passion at REISA is about making the experience of dealing in property a positive one for both consumers and real estate professionals,&rdquo; Mr Piteo said.</p> <p>Mr Piteo acknowledges the outstanding work done by the outgoing President, Mr Greg Moulton.</p> <p>&ldquo;Greg&rsquo;s passion and commitment to the betterment of the industry is enduring. His work as President over the past two years is to be applauded. The membership remains grateful for his dedication.&rdquo;</p> <p>Mr Moulton remains on the board as the Immediate Past President.</p> <p>Mr Tony Ricketts of Knight Frank Australia was elected as the Vice-President. The three Board Director vacancies were filled by Sean Connors, Alexander Ouwens and David Beattie.</p> <p>The 2013/14 REISA Board will be: President &ndash; Ted Piteo (Professionals), Immediate Past President &ndash; Greg Moulton (Harcourts), Vice President &ndash; Tony Ricketts (Knight Frank), Independent Director &ndash; Rod Foster Jones (Piper Alderman), Independent Director &ndash; Nick Storer (Bentleys Adelaide), Independent Director &ndash;</p> <p>Andy Edwards (Elders Real Estate) Directors &ndash; Mark Sanderson (Smallacombe Sanderson), Christine Bertram (Bertram &amp; Co Conveyancing), Sean Connors (Elders), Alexander Ouwens (Harcourts Ouwens Casserly) &amp; David Beattie (Beattie Real Estate).</p> http://www.reisa.com.au/news/a-new-president-for-reisa http://www.reisa.com.au/news/a-new-president-for-reisa 31st Oct 13 Steps for selling your home <p>Selling your home doesn&#39;t have to be stressful if you follow the right procedure. Have a look at these <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate tips</a> to make the process easier on yourself.</p> <p><strong>Timing</strong></p> <p>You don&#39;t have to have <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a> to know when a good time to put your property on the market is. These days, property market conditions are widely reported in Australian media, so all you have to do is pick up a paper or check the evening news to see if the time is right.</p> <p>Seek advice from an experienced real estate agent if you&#39;re still unsure.</p> <p><strong>Choose an agent</strong></p> <p>You&#39;ll want to be able to trust your real estate agent, and hopefully have a good relationship with him or her. Qualities to look for include a strong knowledge of the local area, and experience in selling homes previously.</p> <p>Make sure the agent listens to your requirements and desires before hiring them. Also, it&#39;s great to get an idea of how busy they are. An in-demand agent reflects their skill level, but may also mean they have little time to dedicate to your needs.</p> <p><strong>Choose between selling at auction or having an asking price</strong></p> <p>Auctions are a popular and exciting way to buy and sell property. A reserve price is set with your agent before the event takes place, and if bids don&#39;t reach that minimum price your agent may negotiate with bidders on your behalf.</p> <p>Auctions can see you get a higher price for your property due to the competition amongst bidders, but many buyers may be put off by the drama of an auction.</p> <p>Setting an asking price may attract buyers, as it can be less intimidating and easier to understand than an auction. Buyers will often negotiate below the asking price, however, so make sure you clearly state your expectations to your agent.</p> http://www.reisa.com.au/news/steps-for-selling-your-home http://www.reisa.com.au/news/steps-for-selling-your-home 30th Oct 13 Female Auctioneers. A rare breed of talent. <p>It&#39;s a simple question.&nbsp;<span style="font-size: 1em; line-height: 1.5em;">Is it time for a female division of the </span>Australasian<span style="font-size: 1em; line-height: 1.5em;"> </span>Auctioneering<span style="font-size: 1em; line-height: 1.5em;"> Championships?</span></p> <p>Let&rsquo;s face it. It&rsquo;s a male dominated industry and the &ldquo;fair go&rdquo; attitude that we try to live by does not always apply to women.&nbsp;</p> <p>In the world of competitive auctioneering, are women&rsquo;s voices equally heard?</p> <p>The argument against a female only competition is valid; women and men should be able to compete in the same competition and the best person win. But the pretext of equal access to the championships does not translate into reality.</p> <p>Unfortunately it&rsquo;s not a level playing field and our female auctioneers are missing out on the opportunity to further develop their skills, showcase their talent and gain invaluable experience by competing nationally.</p> <p>Unless we give our female auctioneers the opportunity to compete nationally and gain the necessary experience, we have failed in the pursuit of true equality. Am I rocking the boat? You bet. If anyone wants to join me:<a href="mailto: lisa.stewart@reisa.com.au?subject=Female%20Division%20of%20Auctioneering"> lisa.stewart@reisa.com.au</a></p> http://www.reisa.com.au/news/female-auctioneers-a-rare-breed-of-talent http://www.reisa.com.au/news/female-auctioneers-a-rare-breed-of-talent 29th Oct 13 Super-Size your property portfolio <p>Australians are &#39;super-sizing&#39; their investment portfolios with bricks and mortar.<br /> <br /> The average Australian landlord owns 1.9 investment properties and has an average portfolio value of $585,000, according to The Australian Landlords Panel 2012.i<br /> <br /> Terri Scheer Insurance General Manager, Ms Carolyn Majda, said all property investors should have a clear investment plan - before they even start searching the real estate section of the newspaper.<br /> <br /> &quot;Property can be an effective long-term investment as it has the potential to increase in value over time and produce regular income,&quot; Ms Majda said.<br /> <br /> &quot;Whether you&#39;re buying your first investment property, or your fifth, investors who set up a strategy that extends beyond the first open inspection can create a positive experience throughout the life of their investment.<br /> <br /> &quot;This holds true if you&#39;re looking for an apartment, unit, townhouse, house or holiday house.&quot;<br /> Ms Majda offers the following tips for investors looking to establish or super-size their property portfolios:<br /> <br /> ο‚· Know what type of tenant you&#39;d like to attract<br /> <br /> &ldquo;Tenants can make or break a landlord&rsquo;s experience of owning a rental property,&quot; Ms Majda said.<br /> <br /> &ldquo;When looking for a property, think about the tenant demographic you would like to attract, for example a family, sole tenant or couple, and choose a home that is likely to appeal to them.&quot;<br /> <br /> According to The Australian Landlords Panel 2012, 57% of standalone house rentals are tenanted by families with children,ii while 47% of apartment rentals are tenanted by young couples and 37% by young singles.iii<br /> <br /> &ldquo;Properties that are close to good schools, shops and public transport are likely to be well sought after and may give you a larger pool of prospective tenants from which to choose.&quot;<br /> <br /> ο‚· Look for a low-maintenance property<br /> &ldquo;A property that requires as little maintenance as possible will make life much easier for both tenant and landlord as it will minimise the effort and cost involved in the upkeep of the home,&rdquo; Ms Majda said.<br /> <br /> &ldquo;Look for properties that are free from safety hazards, such as large trees in the backyard, as they can give rise to legal liability claims if someone is injured by debris at the property.<br /> <br /> &ldquo;Homes with hard flooring rather than carpet make good rental properties because they are easier to clean.<br /> <br /> &ldquo;Outdoor areas that are paved also require minimal gardening by the tenant.&quot;<br /> ο‚· Present the property in its best light<br /> Ms Majda said a home that was poorly presented by the landlord may be poorly cared for by the tenant.<br /> <br /> &ldquo;Presenting a clean, tidy and well cared for property will encourage tenants to treat the property as if it were their own,&rdquo; she said.<br /> <br /> &ldquo;Tenants may also be more likely to pay their rent on time and stay in your property longer.<br /> <br /> &ldquo;If you are planning to renovate a property before renting it out, consider painting the property using washable paints and installing hard flooring.&quot;<br /> <br /> ο‚· Make risk management a priority<br /> &ldquo;Too many property investors overlook risk management until after a tenant has moved in and something has goes wrong,&rdquo; Ms Majda said.<br /> <br /> &ldquo;Every landlord should have a tailored landlord insurance policy that covers them for risks like malicious and accidental damage, loss or rental income, and potential legal liability.<br /> <br /> &ldquo;A standard building and contents insurance policy generally won&rsquo;t cover landlords for many of these risks.<br /> <br /> &ldquo;Even the best tenant can accidentally damage a property or lose their job and be unable to pay rent.<br /> <br /> &ldquo;Adequate landlord insurance can protect your investment, ease concerns about receiving regular rental payments and provide peace of mind if the unforeseen should occur.&quot;<br /> <br /> ο‚· Appoint a property manager<br /> <br /> &ldquo;A property manager can help you to secure good tenants, take responsibility for conducting regular inspections, alert you to maintenance requests, address potential liabilities and help to ensure your property is well cared for,&rdquo; Ms Majda said.<br /> <br /> &ldquo;This is particularly relevant if you are thinking about investing in an area that is far from where you live or if you cannot commit significant amounts of time to manage the property yourself.&quot;</p> <p>For further information, visit www.terrischeer.com.au or call 1800 804 016.</p> http://www.reisa.com.au/news/super-size-your-property-portfolio http://www.reisa.com.au/news/super-size-your-property-portfolio 24th Oct 13 What today's buyers look for in a home <p>Large sections, storage space, outdoor areas &hellip; these are all great selling points of your home, but what about its technological capacity?<br /> <br /> Millennial buyers are becoming increasingly concerned with accessibility to technology in house hunting, according to a study by Better Homes and Gardens Real Estate.<br /> <br /> The study shows that buyers are now looking for purposeful homes equipped with the technological capabilities they have grown up with and become accustomed to.<br /> <br /> Seasoned agents will have experienced many different trends and demands during their <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a>, and it&#39;s essential that these are taken into account when marketing homes.<br /> <br /> More than half of young buyers believe home technology capabilities are of more importance than initial curb appeal. In fact, over 80 per cent of young Americans will not consider living in a home that is not up to date with the latest technology.<br /> <br /> Of most importance to these buyers are energy-efficient devices such as washing machines and dryers, plus security systems and smart thermostats.<br /> <br /> More traditional features that buyers look for include a walk-in wardrobe in the master bedroom, an ensuite and new kitchen appliances.<br /> <br /> Home offices are also a point of sale for many buyers, potentially due to the increasingly flexible nature of today&#39;s workforce. In fact, some <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate tips</a> suggest marketing a dining area or small bedroom as a home office in order to appeal to a different audience.<br /> <br /> If you are looking to target millennial buyers, don&#39;t worry too much about renovating your home before you sell it. The Better Homes and Gardens Real Estate study found that young buyers are becoming more inclined to look for homes they can do up themselves. This DIY approach has been a popular feature of Australian television shows recently, so it&#39;s no wonder the trend has trickled down into the real estate market.</p> http://www.reisa.com.au/news/what-todays-buyers-look-for-in-a-home http://www.reisa.com.au/news/what-todays-buyers-look-for-in-a-home 24th Oct 13 Steady CPI provides for stable interest rates <p>The September 2013 quarter Consumer Price Index (CPI) figures show that the Reserve Bank of Australia&rsquo;s (RBA) consumer price measures of inflation continue to be stable and are well within their target zone.</p> <p>Real Estate Institute of Australia (REIA) President, Mr Peter Bushby, says the Reserve Bank should maintain the current level of interest rates.</p> <p>&ldquo;In the September quarter, the consumer price index rose by 1.2% and annual inflation rate is now 2.2%. These figures are well within the RBA&rsquo;s target zone of 2-3%,&rdquo; Mr Bushby said.</p> <p>The analytical series of trimmed mean and weighted median increased by 0.7% and 0.6% respectively for the September quarter 2013, compared to increases of 0.6% for both in the June 2013 quarter.</p> <p>&ldquo;The annual changes for the trimmed mean and for the weighted median were 2.3% for both and compare to the changes for the twelve months to the June quarter 2013 of 2.3% and 2.5% respectively,&rdquo; Mr Bushby said.</p> <p>The housing group increased by 2.0% for the September quarter compared to 0.6% in the June 2013 quarter - the annual rate of increase of 4.0% is down from 5.3% for the year to June.<br /> <br /> The main increases in the September quarter for the housing group were water and sewerage and property rates which increased by 9.9% and 7.9% respectively. For the year to September 2013, the largest increase in the housing group was for electricity (6.1%). Rents increased by 3.2% for the year.<br /> <br /> &ldquo;With inflation well under control and a subdued economy, it&rsquo;s appropriate that the RBA Board maintains interest rates at their present level when it meets on Melbourne Cup Day,&rdquo; Mr Bushby concluded.</p> http://www.reisa.com.au/news/steady-cpi-provides-for-stable-interest-rates http://www.reisa.com.au/news/steady-cpi-provides-for-stable-interest-rates 23rd Oct 13 Is NOLA wasting taxpayers’ money? <p>The Real Estate Institute of Australia (REIA) is greatly concerned at the way the National Occupation Licensing Authority (NOLA) is spending its taxpayer funding. NOLA is conducting a round of interstate visits which appear to be both unnecessary and beyond the role the Authority should have.</p> <p>&ldquo;The process for national licensing is at the stage where the state and territory treasurers will be deciding on the matter later this year. Consultation at the jurisdictional level, which includes input from NOLA, has concluded. NOLA&rsquo;s involvement at this stage is totally unnecessary and would appear to amount to no more than lobbying which is inappropriate for NOLA,&rdquo; said REIA President Mr Peter Bushby.</p> <p>&lsquo;NOLA&rsquo;s role is to establish a national occupational licensing system for specific occupations across Australia if and when the states and territories agree to do so. It should not be a &lsquo;player&rsquo; in the field &lsquo;championing&rsquo; particular outcomes.&rdquo;</p> <p>&ldquo;These actions by NOLA come on top of it stating in a media interview during election campaign that the incoming Coalition Government will not change Labor&rsquo;s implementation of national licensing for real estate agents.&rdquo;</p> <p>&ldquo;Again, it was inappropriate for an administering agency to speculate on what an incoming government may or may not do. It was even more inappropriate that a public servant should be making such comments whilst in caretaker mode.&rdquo;</p> <p>&ldquo;NOLA&rsquo;s actions are eroding support for national licensing and more generally for initiatives developed through the COAG Council process. They should be sticking to what they were set up to do and not wasting some of their 2013/2014 budget of $8.4m on inappropriate travel and activities,&rdquo; concluded Mr Bushby.</p> http://www.reisa.com.au/news/is-nola-wasting-taxpayers-money http://www.reisa.com.au/news/is-nola-wasting-taxpayers-money 22nd Oct 13 State of the States report suggests a positive outlook for real estate <p>If you&#39;re interested in a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a>, you&#39;ll be pleased to know that the industry is set to strengthen in the coming months.<br /> <br /> CommSec, the country&#39;s largest stockbroking firm, has just released its quarterly State of the States report analysing how Australia&#39;s eight states and territories are performing.<br /> <br /> The report looks at eight key indicators to form its conclusions: retail spending, economic growth, unemployment, equipment investment, population growth, construction work, dwelling commitments and housing finance.<br /> <br /> Overall, economies are expected to lift in the post-Federal Election environment. However, a slowdown in mining investment may affect some regions. This slowdown should be offset by a lift in residential building, which is great news for those currently undergoing <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a>.<br /> <br /> More residential buildings will mean more houses on the market, giving the industry a boost. The nation-wide outlook for housing construction has improved as well, mostly due to low interest rates and state government grants for new construction.<br /> <br /> Dwelling starts are above decade averages in five states and territories, suggesting huge room for growth in the housing, construction and real estate sectors.<br /> <br /> Tasmania is the only centre not to benefit from growth in construction work.<br /> <br /> South Australia has returned strong annual growth rates in completed construction work and ranked fifth in housing finance. Construction figures include the total amount of residential, commercial and engineering work completed in the June quarter.<br /> <br /> Overall, Western Australia is the strongest-performing and fastest-growing economy, and Tasmania has returned the lowest figures throughout the report. There has been a transition of growth from the mining sector in WA to the housing sector, which is more good news for real estate professionals.</p> http://www.reisa.com.au/news/state-of-the-states-report-suggests-a-positive-outlook-for-real-estate http://www.reisa.com.au/news/state-of-the-states-report-suggests-a-positive-outlook-for-real-estate 22nd Oct 13 Negative gearing must not be meddled With <p>The Real Estate of Australia (REIA) says it agrees with the new Grattan Institute Renovating Housing Policy report that a major overhaul of housing policy in Australia is needed, but differs in what needs to be done.</p> <p>REIA President Peter Bushby says, &ldquo;We strongly agree with the report&rsquo;s recommendations to eliminate stamp duties, however it&rsquo;s essential negative gearing be retained in its current form for the purpose of property investment.&rdquo;</p> <p>&ldquo;REIA has always supported negative gearing because it helps in the provision of rental accommodation. Negative gearing for property investment is complementary to the goals of the Government&rsquo;s Housing Affordability Fund (HAF) in addressing the supply of rental accommodation.&rdquo;</p> <p>&ldquo;To remove it would show that we haven&rsquo;t learnt anything from history. When negative gearing was abolished in 1985 it had disastrous consequences for the property market and for people trying to rent. Rents rose 37% across Australia and by 57% in Sydney. Thankfully, negative gearing was reinstated in 1987.&rdquo;</p> <p>&ldquo;It is far too short sighted to link investor interest in housing to negative gearing alone. Negative gearing is only one of a range of factors that contribute to the level of investment in property. Other factors include interest rates, availability and accessibility of finance, share market performance, the unemployment rate, housing supply and consumer confidence.&rdquo;</p> <p>&ldquo;The myth that negative gearing is a plaything of the wealthy also needs to dispelled. The majority of taxpayers with a negatively geared property earn less than $80,000 a year.&rdquo;</p> <p>&ldquo;Findings in the Renovating Housing Policy report are important and let&rsquo;s hope they assist in kick-starting a debate on housing policy. With the new government, expectations that industry will be involved in finding workable solutions to these old issues are high.&rdquo;</p> http://www.reisa.com.au/news/negative-gearing-must-not-be-meddled-with http://www.reisa.com.au/news/negative-gearing-must-not-be-meddled-with 21st Oct 13 Preparing for an open home <p>If you&#39;re preparing to sell up, there&#39;s a good chance your home will be subject to inspection during the near future. Follow this <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> to ensure you&#39;re as prepared as possible for your first open home.<br /> <br /> <strong>Work with a professional</strong></p> <p>Selling your home can be a big project, so you want to hire the best possible agent you can to help get the best sales results. Check they have undergone proper <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a> and that you&#39;re both on the same page when it comes to sales objectives and outcomes. You want your real estate agent to have your best interests at heart.<br /> <br /> <strong>Clean the house from top to bottom</strong></p> <p>If you&#39;re not fond of cleaning, consider hiring a professional to come and give your property a thorough scrub. It&#39;s vital that your home looks like it&#39;s in good condition, as an unclean house may suggest to viewers that it hasn&#39;t been well maintained.<br /> <br /> <strong>Prepare a flyer</strong></p> <p>A property description sheet is a great way to ensure buyers remember your home long after they&#39;ve left it. Often, people will view several homes in one day, so you want them to remember yours above the competition. The flyer should include photos that show off the home&#39;s assets and include key features of the property.<br /> <br /> <strong>Request buyer feedback</strong></p> <p>Many open homes these days require potential buyers to provide their contact information so that agents can follow up after the viewing is over. Another option is to ask people to fill out feedback sheets to provide you with what they did and didn&#39;t like about your home.<br /> <br /> <strong>Offer guided tours</strong></p> <p>Some people like to look at a home on their own, but others may prefer to have an agent on hand to point out the property&#39;s best features. Have someone available to show people around the house, but respect that others may want privacy.</p> http://www.reisa.com.au/news/preparing-for-an-open-home http://www.reisa.com.au/news/preparing-for-an-open-home 18th Oct 13 When enough is enough: Evicting a tenant <p>Evicting a tenant is always a delicate matter that landlords would rather steer clear of.</p> <p>However, if you find that you are left with no recourse but to ask an unruly tenant to leave, it&#39;s important to keep a few things in mind.</p> <p>You should always act with grace and keep your tenant&#39;s best interests in mind, while making sure you&#39;re staying well within legal boundaries. Here is how you should go about evicting a tenant.</p> <p><strong>Stay up to speed with the law</strong></p> <p>Each state in Australia has different tenancy laws and regulations, so it&#39;s important you have a handle on which rules apply in your region.</p> <p>These laws will govern a range of aspects such as the grounds on which you can evict tenants and how to deal with disputes.</p> <p>Taking REISA&#39;s in-depth <a class="dnautolink" href="http://www.reisa.com.au/training/property-management-2">property management courses</a> will ensure you&#39;re up to date with the latest developments in <a class="dnautolink" href="http://www.reisa.com.au/membershipinformation/membership">real estate law</a> in South Australia.</p> <p><strong>Provide adequate notice</strong></p> <p>If you feel you have a good basis for evicting a tenant, you should ensure you give them as much notice as possible. Housing SA recommends providing at least four weeks&#39; notice, and according to Your Investment Property, tenants in South Australia should be given at least eight days to vacate the property.</p> <p>This is only fair for the tenant, and will give both parties plenty of time to work through the formalities and arrange a smooth transition out of the property.</p> <p><strong>Terminate the agreement properly</strong></p> <p>Once the eviction is complete, it is up to the landlord to tie up any loose ends with regards to the terminated lease agreement.</p> <p>This includes conducting a final inspection of the property and releasing or claiming the bond, according to Housing SA.</p> http://www.reisa.com.au/news/when-enough-is-enough-evicting-a-tenant http://www.reisa.com.au/news/when-enough-is-enough-evicting-a-tenant 17th Oct 13 What are your rights and responsibilities as a landlord? <p>If you&#39;re a landlord or are about to undergo a <a class="dnautolink" href="http://www.reisa.com.au/training/property-management-2">property management course</a>, it might be time to brush up on your rights and responsibilities.</p> <p>Firstly, make sure you have everything established and clearly written down in the lease agreement. This will be signed by you and any tenants in the property you are overseeing, and should outline both the conditions of tenancy and what you are committing to in your role.</p> <p>The Residential Tenancies Act 1995 is also a great source to find out more about what a landlord is expected to do, and what his or her rights are.</p> <p>In general, landlord responsibilities include the following:</p> <p>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintaining the property and arranging repairs<br /> &middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allowing the tenants peace, privacy and comfort in the property for the duration of the time they live there<br /> &middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paying council rates and taxes<br /> &middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ensuring the property&#39;s security by providing and maintaining locks<br /> &middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Giving new tenants a copy of the lease, two completed inspection sheets and an information brochure<br /> &middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Giving reasonable notice before showing the property to potential buyers or tenants</p> <p>In terms of accessing the rental property, landlords must respect the tenants&#39; rights to live in peace, comfort and privacy. However, they do have the right to enter the building in several circumstances.</p> <p>In the case of an emergency, no written notice is required to go onto property grounds. If you want to inspect the property, you can&#39;t do it more than once every four weeks and you must give at least seven days written notice before you do so.</p> <p>Many lease agreements require a bond to be paid at the start of the tenancy. If you find that tenants or their visitors have caused damage, left the property in an unclean condition or have not paid rent, you can make a claim on this bond.</p> http://www.reisa.com.au/news/what-are-your-rights-and-responsibilities-as-a-landlord http://www.reisa.com.au/news/what-are-your-rights-and-responsibilities-as-a-landlord 16th Oct 13 Why you should take a compliance personal development course <p>Professionals, take note. Your learning journey shouldn&#39;t end the day you are issued a certificate or statement. It&#39;s important to continue training throughout your <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a>, so you can continue to offer clients and customers service that has an edge over the competition.</p> <p>Some organisations, such as the Real Estate Institute of South Australia (REISA), offer professional development courses to ensure you&#39;re up to date in all areas of <a class="dnautolink" href="http://www.reisa.com.au/membershipinformation/membership">real estate law</a>. If you&#39;re looking to brush up on your skills, look no further than the range of compliance courses available through REISA.</p> <p>The Form 1 Refresher course will ensure your documentation is correct, ensuring stress-free sales and settlements. The workshop will cover common mistakes made when filling out Form 1, and best practice tips. It also touches on dealing with asbestos and the Environment Protection Agency, along with complications with the Emergency Services Levy.</p> <p>The Risk Management Legislation Refresher is a real must-attend for all office managers and Resident Letting Agents. The course looks at problems in an agency&#39;s procedures that can cause the loss of professional fees or leave the agency open to fines. It also explores hidden risks that may expose you to litigation, as well as ways to protect your fees and expenses.</p> <p>All real estate salespeople should attend the Residential Advertising Price Compliance course, which provides an overview of pricing methods and tips on how to establish the Prescribed Minimum Advertising Price. It explores how to handle single and multiple offers, and ways to offer rejections and price adjustments.</p> <p>The Sales Agency Agreement and Contract Documentation Refresher provides an overview on document preparation and mistakes to avoid. Purchasers can often look for document errors in order to void a contract, so it&#39;s vital that you have superb attention to detail when filling in forms.</p> http://www.reisa.com.au/news/why-you-should-take-a-compliance-personal-development-course http://www.reisa.com.au/news/why-you-should-take-a-compliance-personal-development-course 15th Oct 13 Tenant advice: how to deal with unruly neighbours <p>Renting a property should be straightforward and peaceful for everyone concerned. If your experience is being hampered by unruly or disrespectful neighbours, take heed of the following <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate tips</a> on how to deal with them.</p> <p>If a problem arises with a neighbour, consider talking to him or her about it before you take any further action. In many instances, people may not be aware that their behaviour is affecting you and a remedy could be brought about simply by discussing the issue.</p> <p>Before you talk to your neighbour, make sure you have specific examples of any disruptive incidents and behaviour. Be prepared to compromise and be reasonable in your expectations.</p> <p>If your neighbours are unresponsive or don&#39;t live up to their end of the bargain after you&#39;ve talked to them, continue to keep a detailed diary of any disruptive events. This should include where and when an event occurred, details of what happened, how it affected you and what action you took.</p> <p>You can report incidents to agencies such as your local council, the Environment Protection Agency or Housing SA depending on what the issue is. Make sure to keep a copy of any letters you send to and receive from these agencies, and also file away any correspondence with neighbours.</p> <p>If your neighbour rents his or her property and is interfering with your comfort, peace or privacy, he or she may be breaking the lease agreement conditions. Tenants are responsible for not only their own behaviour, but the behaviour of everyone visiting the property, along with pets.</p> <p>You could also ask the landlord or property owner to intervene. This person will have undergone <a class="dnautolink" href="http://www.reisa.com.au/training/property-management-2">property management courses</a> and should be well prepared to handle the situation. If the problem continues, the Consumer and Business Services tenancies branch can provide further advice.</p> http://www.reisa.com.au/news/tenant-advice-how-to-deal-with-unruly-neighbours http://www.reisa.com.au/news/tenant-advice-how-to-deal-with-unruly-neighbours 14th Oct 13 Don't let termites turn away buyers <p>If you&#39;re beginning a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a> or are thinking about a foray into property management, you might be interested to learn about a recent study conducted by pest control experts Rentokil.</p> <p>The study shows 65 per cent of Australians think a termite infestation would decrease a home&#39;s value by over 20 per cent. This should be of particular concern for those investing in and selling domestic property, as it&#39;s estimated by the CSIRO that one in four Australian homes are attacked by termites.&nbsp;</p> <p>Head of Marketing Services at Rentokil Kate Levy says that not only does termite infestation potentially lower the value of a home, but owners then have to take into consideration the average cost of termite damage. This cost is usually not covered by home insurance policies.</p> <p>It&#39;s interesting to note that almost all South Australian homes are at risk of termites, regardless of their structure. While timber houses are more frequently targeted, steel-framed and masonry houses can also be affected by termites.</p> <p>One of Ms Levy&#39;s <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate tips</a> is to arrange for termite inspections as soon as possible in order to catch the critters before they cause too much damage. If left untreated, termite damage can eventually lead to a building collapse as the wood is eaten away.</p> <p>Survey data also reveals that almost three quarters of buyers would remove a home from their shortlist if it was found to have termites. This means that an untreated termite infestation could have devastating results on a home&#39;s marketability.</p> <p>Indications of a termite infestation include scratching sounds from within structures such as door frames. It usually occurs late at night and indicates the insects are foraging for food.</p> <p>Professional services are available to search for and eradicate your home of termites, and it&#39;s recommended to have an inspection annually.</p> http://www.reisa.com.au/news/dont-let-termites-turn-away-buyers http://www.reisa.com.au/news/dont-let-termites-turn-away-buyers 14th Oct 13 Oh what a night! REISA recognises real estate’s finest <p>South Australia&rsquo;s most highly acclaimed real estate professionals were recognised last week in a spectacular night hosted by the Real Estate Institute of South Australia at the annual News Australia realestate.com.au Awards for Excellence in Real Estate.</p> <p>The Adelaide Entertainment Centre was the perfect place to host the sold out show in a Luna Fantasy Spectacular compared by Australian actor Shane Jacobson.</p> <p>Winners from all over the State, excelling in a range of real estate specialties, were rewarded for their hard work and commitment to client service.</p> <p>Announcing the winners, Mr Greg Troughton, CEO, REISA said that the Awards for Excellence looked at the entrants&rsquo; &lsquo;complete package&rsquo; throughout the judging and it was a tight contest to determine the winners.</p> <p>&ldquo;This is the most highly recognised award program in South Australia. It takes real commitment, drive and ambition to be successful in this industry and the winners here tonight are outstanding ambassadors for the profession&rdquo; he said.</p> <p>The Awards set the benchmarks for the entire profession as they examine every part of an individual and agency&rsquo;s business. It&rsquo;s more than just dollars and numbers. It really is a broad approach to the business with entrants being judged on innovation, marketing, sales acumen and community service.&nbsp;</p> <p>&ldquo;Winners express the kind of innovative and dynamic approach to business that helps to set benchmarks and raise the professional profile of real estate practitioners.&rdquo;</p> <p>&ldquo;The Award program aims to highlight the status and integrity of our profession in the eyes of the public, government and industry and reward those members of the profession who have elevated the good name and status of real estate,&rdquo; Mr Troughton said.</p> <p>&ldquo;The winners tonight have worked hard for their success and we congratulate them wholeheartedly and know they will carry these titles with great pride.&rdquo;</p> <p>Mr Robin Matters was awarded the Sir Robert Torrens Award, real estate&rsquo;s prestigious Award, to recognise commitment and service to the profession.</p> <p>In addition to recognising the winners, a Life Membership of REISA was awarded to Brett McMutrie.</p> <p><img alt="" src="/sb_cache/associationnews/id/704/f/table.JPG" style="width: 501px; height: 783px;" /></p> http://www.reisa.com.au/news/oh-what-a-night-reisa-recognises-real-estates-finest http://www.reisa.com.au/news/oh-what-a-night-reisa-recognises-real-estates-finest 14th Oct 13 First home buyers hit nine year low <p>The Real Estate Institute of Australia (REIA) says the latest housing finance figures released by the Australian Bureau of Statistics (ABS) show that total lending for housing continues to grow steadily in response to interest rate cuts and the positive housing outlook, but that the rate of increase is slowing down.<br /> <br /> Housing finance figures for August 2013 show, in trend terms, that the number of owner-occupied finance commitments rose by 0.6 per cent &ndash; following increases of 1.0 per cent in July and 1.5 per cent in June. This was the lowest monthly increase, in trend terms, since January.<br /> <br /> If refinancing is excluded, the increase, in trend terms for August, is 0.3 per cent.<br /> REIA President, Peter Bushby says, &ldquo;Increases were recorded in all states except Western Australia with the largest increase in the Northern Territory, up 2.3 per cent, in trend terms.&rdquo;<br /> <br /> &ldquo;There are increases in the purchase of established dwellings (up 0.7 per cent in trend terms), the purchase of new dwellings (up 0.3 per cent in trend terms) and the number of commitments for the construction of new dwellings (up 0.7 per cent in trend terms),&rdquo; Mr Bushby continued.<br /> <br /> The value of investment housing commitments rose by 0.8 per cent, in trend terms, in August resulting in well over a year of consecutive monthly increases.<br /> <br /> &ldquo;The proportion of first home buyers in the number of owner-occupied housing finance commitments fell to 13.7 per cent compared to the July figure of 14.7 per cent. The figure is the lowest since April 2004 and is far lower than the long-run average proportion of 20.1 per cent, despite eight interest rate cuts since November 2011.&rdquo;<br /> <br /> &ldquo;In large part, this drop can be attributed to State Governments withdrawing previous levels of support for first home owners buying established dwellings and it is established dwellings that 80 per cent of first home buyers prefer.&rdquo;<br /> <br /> &ldquo;With the proportion of first home buyers remaining consistently below the long term average, despite the latest figures incorporating all the interest rate cuts, this and a review of inefficient state taxes such as stamp duty, need to be a high priority issue for the new Government,&rdquo; concluded Mr Bushby.</p> http://www.reisa.com.au/news/first-home-buyers-hit-nine-year-low http://www.reisa.com.au/news/first-home-buyers-hit-nine-year-low 11th Oct 13 Tips for successfully investing in property <p>Whether you&#39;re thinking about investing in property for the first time or adding to your extensive portfolio, it&#39;s important to make sure you&#39;re as well informed as possible before you sign any contracts and spend any money.</p> <p>Follow these <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate tips</a> to ensure you make the best decision.</p> <p><strong>Treat your investments like a business</strong></p> <p>Treating property investment like a business will ensure you are managing your money appropriately.</p> <p>Buyers who do this can get high returns on their property from understanding the market and placing a strong emphasis on managing their property effectively.</p> <p>Make sure you have the right type of finance, have systems in place to protect your assets and understand how tax will impact your purchase. It&#39;s a good idea to build a relationship with your advisor or lender, along with real estate agents.</p> <p><strong>Buy property that&#39;s attractive to tenants</strong></p> <p>It might sound obvious, but it&#39;s incredibly important to purchase buildings that tenants will want to rent in order to get a return on your investment. If your personal taste differs from most, or you&#39;re not sure about a neighbourhood&#39;s popularity, make sure you consult with others before you take the plunge.</p> <p>Don&#39;t be afraid to ask your agent lots of questions about a property. They&#39;ve undergone plenty of <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a> and should be able to provide advice on the best type of property for you.</p> <p><strong>Consider the market depth</strong></p> <p>When you&#39;re buying property, investigate how many sales occur in the area each year and how many sell within the price band of your property.</p> <p>This information may be more useful that median prices, as it will tell you actual sales volumes by price group and provide a realistic indication of how saleable your house may be in the future.</p> http://www.reisa.com.au/news/tips-for-successfully-investing-in-property http://www.reisa.com.au/news/tips-for-successfully-investing-in-property 11th Oct 13 South Australian property is in demand by buyers and investors <p>Property website realestate.com.au has recently released its quarterly findings on the top suburbs in Australia, and South Australia has come out as the top state.</p> <p>Suburbs are ranked by their demand by both buyers and investors, providing a valuable insight into the lucrative Australian property market.</p> <p>For the third time in 2013, popular SA suburb Parkside has topped the list. Belair and Fullarton also made the top ten, which is good news for anyone pursuing a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a> in the region.</p> <p>Parkside has a total population of over 11,600 people, and is a mere 2.4km from Adelaide city centre. It&#39;s a small area, only 1.63km square in size, and is largely made up of professionals, managers and clerical and administrative workers.</p> <p>According to information from Property Observer, the median house sale price in Parkside is $652,000 and the average time a property spends on the market is 75.6 days. The median asking rent has increased dramatically since 2008, and now sits at $450 per week.</p> <p>Property investors, and indeed those undergoing <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a> in the area, will be pleased to note Parkside&#39;s positive performance compared to the property market in the rest of the country. Over the past 12 months, median house prices have increased in value by 6.25%.</p> <p>It&#39;s no wonder property in the area is in hot demand. Adelaide was recently ranked the fifth most liveable city in the world, according to a study by The Economist Intelligence Unit. It came out ahead of 35 other cities due to its impressive results in the five measured categories of stability, healthcare, culture and environment, education and infrastructure.</p> http://www.reisa.com.au/news/south-australian-property-is-in-demand-by-buyers-and-investors http://www.reisa.com.au/news/south-australian-property-is-in-demand-by-buyers-and-investors 9th Oct 13 How the other half lives <p>One of our CEO&rsquo;s favourite lines, along with &ldquo;moving forward&rdquo; and &ldquo;kicking goals&rdquo; is &ldquo;getting out of our ivory tower&rdquo;.</p> <p>So with those oft-quoted pearls of wisdom in mind, a new project was launched which would involve every REISA staff member.</p> <p>Mission:&nbsp; To spend a day with a REISA member to witness &ndash; at first hand - life in the trenches.</p> <p>Objective:&nbsp; To find out if REISA is delivering to its members and if not, how REISA could improve its practices.</p> <p>Now to be honest, I had enormous apprehension about this project.&nbsp; Having spent the last 3 years at Consumer and Business Services working on the real estate reforms, all I heard day in and day out were the words &ldquo;underquoting&rdquo;, &ldquo;unscrupulous practices&rdquo;, &ldquo;transparency&rdquo; and &ldquo;accountability&rdquo;.</p> <p>Little wonder then that my view of the industry was perhaps a little jaded.</p> <p>My four months working at REISA has certainly tempered this view somewhat.</p> <p>Witnessing the enthusiasm of members, particularly at training sessions, has given me some pause to think that maybe agents weren&rsquo;t that bad.</p> <p>So I chose Vella Real Estate for my baptism of fire.</p> <p>I wanted to pick a small agency with sales and property management personnel and to hear what they had to say about the industry, about their working lives and importantly what they thought about REISA and the benefits of being a member.</p> <p>I was very pleased that Vella accepted my request and seemed to be looking forward to my visit.</p> <p>And the outcome of the mission?&nbsp; In short, I could not have enjoyed a better day.&nbsp; And the team at Vella could not have been more welcoming and passionate about their lives as real estate professionals.</p> <p>The principal and owner, Anthony, greeted me warmly and then peppered me with questions about the upcoming legislation &ndash; smart move. &nbsp;Just from these questions, I learned a lot about what the agency does on a daily basis and where they fit into the overall market.&nbsp; We also discussed a whole suite of hypotheticals. I found this very educational as it gave me a fantastic insight into what agencies are thinking about in terms of future directions of the industry.</p> <p>Then it was off to speak with the property management team.&nbsp; We discussed the upcoming legislation at great length.&nbsp; I was extremely impressed at their questions.&nbsp;&nbsp;While I was able to answer the great majority, I did indeed take the 5th on half a dozen of them.&nbsp; The fact that they had done their homework and came prepared with questions was excellent.&nbsp; Hearing their first hand experiences (and nightmares) about being property managers was invaluable and it provided me with a solid foundation on which to approach the residential tenancies regulations &ndash; if and when we receive them.</p> <p>Back to Anthony and his sales representative, Don for an in depth discussion on sales, legislation and business practices.&nbsp; Lots of scenarios were tossed around, experiences discussed and lessons learned.</p> <p>After all this, we ventured across the road to the Grind, a coffee shop on the Parade which despite living in Norwood, I had never heard of.&nbsp; It was a great little coffee place and Tony and Kezia obviously know the Vella team well &ndash; so well that I saw no money change hands.</p> <p>Settling back, I sensed that this was the perfect time for the Vella team to dish the dirt &ndash; what is wrong with REISA?, what don&rsquo;t they get from REISA?, did REISA actually care about them?.&nbsp; I told them &ndash; no holds barred.</p> <p>I was very pleased that Anthony and Don only had positive things to say about REISA.&nbsp; In particular Anthony pointed out that it was great to belong to a professional organisation where you could ring up and get advice at any time.&nbsp; He also stated how he appreciated receiving the frequent legislative updates and the newsletters.&nbsp; I was also delighted to learn that Anthony actively promoted his membership of REISA.</p> <p>I asked them both about the perception that REISA only caters to the top end of town. This was an issue that I had occasionally heard while delivering the legislative sessions across the State. &nbsp;While they both acknowledged that the perception did exist, both Anthony and Don did not share that view.&nbsp; They thought that REISA helped all its members as much as it could and it was up to the smaller agencies to seek REISA&rsquo;s help if they needed it and not just to assume that they were too small to warrant it.</p> <p>Anthony and the team then decided that it was time to get back to work and so I was ushered onto the street with friendships forged and a real sense that this project had actually achieved its objective.</p> <p>All in all, it was a great day &ndash; with a talented and professional group of people.&nbsp; I will be returning in the next few weeks to finish my training of the Vella staff, to hopefully attend some appraisals, answer the questions I took the 5th on and - most importantly - to visit my new favourite coffee shop.</p> <p><strong>Paul Edwards<br /> Policy Project Manager</strong></p> http://www.reisa.com.au/news/how-the-other-half-lives http://www.reisa.com.au/news/how-the-other-half-lives 9th Oct 13 Counting Down <p>With the final countdown well and truly underway, the legislative training sessions in the metro area are almost sold out!!</p> <p>This is a great testament to the willingness of our industry to be prepared, be informed and to enter the New Year with confidence.</p> <p>But don&rsquo;t despair if you have missed out on one of the advertised dates &ndash; REISA will soon be adding more metro dates in the first week of December so stay tuned.</p> <p>And don&rsquo;t forget the regional dates. These are selling quickly as well so book online at <a href="http://www.reisa.com.au/training" target="_blank">www.reisa.com.au/training</a> to ensure that you get a place.</p> <p>Your New Year&rsquo;s Resolution doesn&rsquo;t have to be that you spend the first few days in January getting up to speed with the new legislation.</p> <p>Make sure you are ready well before then.</p> http://www.reisa.com.au/news/counting-down http://www.reisa.com.au/news/counting-down 9th Oct 13 A career in real estate might be the perfect fit for you <p>Whether you&#39;re entering the job force for the first time or looking for a change of career, real estate could be the right move for you.</p> <p>If you&#39;re a self-motivated people person, love property and don&#39;t mind rolling your sleeves up and getting stuck in, you might be the perfect fit for a role in the real estate sector.</p> <p>Careers in the property industry can afford you freedom and flexibility not found in many other markets, and you&#39;ll often find that your income directly reflects the amount of effort you put in to your job.</p> <p>The barriers to entry to a <a href="http://www.reisa.com.au/training/a-career-in-real-estate" target="_blank">real estate career </a>can be lower than in other industries, and there are specialist <a href="http://www.reisa.com.au/training/a-career-in-real-estate" target="_blank">real estate training</a> courses available to help kick start your career. Many are available online, which is great for people who live remotely or don&#39;t have the time to attend regular classes.</p> <p>Real estate work can be really varied, from helping people to sell and buy homes and industrial property, to organising and advising on property management and mortgage banking.</p> <p>If you&#39;re more mathematically minded and love numbers, a career in commercial real estate may be the perfect fit for you as the stakes can be higher, bringing potential risks and also greater rewards.</p> <p>If you love helping people and are interested in helping families find their dream homes, residential real estate could be right up your alley. You can still earn a tidy commission in this industry, without the risks associated with dealing in commercial property.</p> <p>To be successful in the industry you should be self-motivated, goal-oriented and ambitious. While you may often have to work long hours, the rewards are plenty. There&#39;s huge potential for high earning, along with some autonomy and flexibility in workloads and hours.</p> <p>You&#39;ll also get to meet a range of people and flex your gift of the gab, which can provide an excellent intellectual challenge.</p> http://www.reisa.com.au/news/a-career-in-real-estate-might-be-the-perfect-fit-for-you http://www.reisa.com.au/news/a-career-in-real-estate-might-be-the-perfect-fit-for-you 9th Oct 13 REISA advocates most valuable donation <p>Lisa Stewart, Manager Marketing and Communications at the Real Estate Institute of South Australia, had one very specific goal for 2013&hellip; to create a program that would involve every REISA member, and extend beyond to staff, family and friends.</p> <p>The objective was to use the power of the organisation&rsquo;s significant membership for the good of the community they serve and at the same time, see the entire real estate industry in the state come together for a common cause.</p> <p>&ldquo;While many of our members are well known for their community service and philanthropic practices, the opportunity to do one big task that impacted so greatly on all South Australians was the driving force behind the idea,&rdquo; Lisa says.</p> <p>Being aware of other large organisations running an annual &lsquo;blood drive&rsquo; such as the SES and the Law Society, Lisa engaged with the Red Cross Blood Service and a plan to roll out a REISA blood donation campaign aiming for 500 litres of blood or plasma over the months of August, September and October.</p> <p>&ldquo;From that point on, we brought in a team of communicators with whom we&rsquo;ve enjoyed working with previously and created a brief for the promotion of the campaign,&rdquo; she says.</p> <p>The brief highlighted that the campaign should reflect the energy and enthusiasm of members of the industry and also incite some healthy competition! Marsha Dearden Communications worked on the overall creative strategy and content with Quisk Design producing the visual images and managing social media.</p> <p>The campaign was given the name REISA Blood Challenge to encourage a sense of competitiveness with the Give a Drop. Save a Life theme line as the motivating statement. Bold visuals and a &lsquo;no holds barred&rsquo; attitude to the use of the word &lsquo;bloody&rsquo; in copy led to a rather less conservative approach in communication for which REISA was known.</p> <p>To gain maximum impact for the launch, members were invited to a cocktail party that was planned to ensure no one left without a very strong commitment to the Challenge. Guests were greeted by Billy Blood Drop from the Red Cross Blood Service, encouraged to mix their own Bloody Mary cocktails and compelled to take the REISA</p> <p>Blood Challenge Oath by none other than Dracula.Real Estate business operators were encouraged to appoint a &lsquo;Blood Hound&rsquo; in their office to manage the donation process.Participation kits included posters, brochures, a REISA &lsquo;Blood Hound&rsquo;s Guide&rsquo;, social media links and general information from the Red Cross Blood Service.</p> <p>To date, more than 15 major real estate industry organisations have already donated with many more meeting the challenge of 500 litres before 31 October. Ongoing promotion includes PR in regional areas to support members outside of the Adelaide area and another &lsquo;step up&rsquo; in the vein of competition.</p> <p>&ldquo;We don&rsquo;t believe anything quite this confrontational has been presented to the real estate industry before,&rdquo; Lisa says, &ldquo;not just in terms of the Challenge itself, but in the directness of the campaign&rsquo;s communication.</p> <p>&ldquo;It&rsquo;s been a bloody fantastic team effort all round&rdquo;.</p> http://www.reisa.com.au/news/reisa-advocates-most-valuable-donation http://www.reisa.com.au/news/reisa-advocates-most-valuable-donation 9th Oct 13 Tips for renters before they sign their new lease <p>If you&#39;ve recently found the home or apartment of your dreams, congratulations! Finding the perfect fit can be a tough job, especially when you&#39;re renting. Before you rush off to sign the lease, consider the following <a href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_blank">real estate tips.</a></p> <p>Read the tenancy agreement thoroughly</p> <p>A residential tenancy agreement allows you to take possession of a property for a period of time and on certain conditions. It&#39;s legally binding, so it&#39;s really important that you understand all of the conditions set out.</p> <p>Make sure to check when the beginning and expiration dates are, the rental price, when and how frequently you must pay rent, what the grounds for termination are, and whether there are penalties for moving out of the property before the lease expires.</p> <p>Many professionals who have undergone <a href="http://www.reisa.com.au/training/a-career-in-real-estate" target="_blank">real estate agent training</a> will discuss this with you upfront, but it always pays to check you understand everything before signing a legally binding document.</p> <p>Inspect the property</p> <p>This goes beyond simply deciding on who will have which room. Test out taps and shower heads to make sure the temperature and pressure of the water is up to standard.</p> <p>If the property comes with heating or air conditioning, ask to test these out to ensure they work. Flick on the lights and open windows to make sure everything is doing what it should - you don&#39;t want to move into a house with dodgy electrics and sticky windows.</p> <p>Ask plenty of questions</p> <p>If you&#39;re planning on staying in the property long-term, you&#39;ll want to make sure it&#39;s the right choice for your needs. Ask about the pet policy and what the scope is for additional tenants.</p> <p>Even if you don&#39;t currently have any animals, children or other flatmates, you never know what will happen in the future.</p> <p>Some property owners are relatively flexible with things like subletting and having guests stay, but you&#39;ll want to clarify this before the need arises.</p> http://www.reisa.com.au/news/tips-for-renters-before-they-sign-their-new-lease http://www.reisa.com.au/news/tips-for-renters-before-they-sign-their-new-lease 9th Oct 13 Questions to ask tenants before they move into your property <p>Choosing the right tenants for a property can be risky business. Before you hand over the keys, make sure you&#39;ve asked any potential occupants the following questions.</p> <p>Why are you moving from your current property?</p> <p><a href="http://www.reisa.com.au/training/property-management-2" target="_blank">Most property management courses</a> will encourage you to ask tenants this question.</p> <p>You can slip it into small talk, but make sure you pay close attention to the response. If the tenants have been evicted or mention bad relationships with their landlord or neighbours, it might pay to do a bit more digging as they may end up causing problems for you.</p> <p>Good reasons for moving include relocating, looking for more space, looking for a change or wanting to upgrade. You can always ask for references from previous landlords if you have any doubts.</p> <p>What is your employment situation?</p> <p>You might want to ask tenants what their line of work is, whether it is full time or part time and how long they have been in their role.</p> <p>Job stability is important as it suggests a tenant&#39;s ability to pay rent in the long-term. If occupants are only employed part-time or are in contract roles, issues could arise in the future if the work finishes and they are unable to continue making payments.</p> <p>When would you move in?</p> <p>This question can be a good gauge of how well someone plans. If they answer &quot;immediately&quot; or &quot;as soon as possible&quot;, without following it up with an explanation as to why, it might suggest they are not good planners. This could affect you further down the track if they struggle to plan their finances and can&#39;t make payments on time.</p> <p>It&#39;s also a great way to eliminate candidates based on your own timeframes. If they need a place immediately but your property won&#39;t be available for a month, it might not be a good match.</p> http://www.reisa.com.au/news/questions-to-ask-tenants-before-they-move-into-your-property http://www.reisa.com.au/news/questions-to-ask-tenants-before-they-move-into-your-property 4th Oct 13 Real estate advice on selecting tenants for your property <p>Choosing the right tenants for a property can be risky business. Before you hand over the keys, make sure you&#39;ve asked any potential occupants the following questions.</p> <p><strong>Why are you moving from your current property?</strong></p> <p>Most <a class="dnautolink" href="http://www.reisa.com.au/training/property-management-2">property management courses</a> will encourage you to ask tenants this question.</p> <p>You can slip it into small talk, but make sure you pay close attention to the response. If the tenants have been evicted or mention bad relationships with their landlord or neighbours, it might pay to do a bit more digging as they may end up causing problems for you.</p> <p>Good reasons for moving include relocating, looking for more space, looking for a change or wanting to upgrade. You can always ask for references from previous landlords if you have any doubts.</p> <p><strong>What is your employment situation?</strong></p> <p>You might want to ask tenants what their line of work is, whether it is full time or part time and how long they have been in their role.</p> <p>Job stability is important as it suggests a tenant&#39;s ability to pay rent in the long-term. If occupants are only employed part-time or are in contract roles, issues could arise in the future if the work finishes and they are unable to continue making payments.</p> <p><strong>When would you move in?</strong></p> <p>This question can be a good gauge of how well someone plans. If they answer &quot;immediately&quot; or &quot;as soon as possible&quot;, without following it up with an explanation as to why, it might suggest they are not good planners. This could affect you further down the track if they struggle to plan their finances and can&#39;t make payments on time.</p> <p>It&#39;s also a great way to eliminate candidates based on your own timeframes. If they need a place immediately but your property won&#39;t be available for a month, it might not be a good match.</p> http://www.reisa.com.au/news/real-estate-advice-on-selecting-tenants-for-your-property http://www.reisa.com.au/news/real-estate-advice-on-selecting-tenants-for-your-property 2nd Oct 13 Understanding real estate jargon <p>If you&#39;re beginning your <a href="http://www.reisa.com.au/training/a-career-in-real-estate" class="dnautolink">real estate training</a>, it&#39;s likely that some of the terminology used may not be part of your everyday vocabulary. Get up to speed with the following terminology clarifications.</p> <p><strong>Amortise</strong></p> <p>This means making regular payments that cover principal and interest fees to repay a mortgage.</p> <p><strong>Buyer&#39;s market</strong></p> <p>This is when the pressures of supply and demand make the market prices decrease to a relatively low level. This is advantageous to buyers, and is usually due to excess supply in the market.</p> <p><strong>Conditional agreement</strong></p> <p>A conditional agreement is a legally binding contract subject to certain conditions being satisfied.</p> <p>The conditions will be set out in the agreement and are usually to be settled by the purchaser, however sometimes the buyer may require the seller to do something (such as a repair) by a specific date.</p> <p><strong>Fiduciary</strong></p> <p>A fiduciary is someone who holds the character of the trustee. The law considers real estate agents and salespeople to be fiduciaries, so they have a duty to act for the benefit of the person who employs them.</p> <p>The penalties for failing in fiduciary duties can be severe, so it&#39;s best to get <a href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" class="dnautolink">real estate advice</a> if you require further clarification.</p> <p><strong>Freehold</strong></p> <p>Freehold ownership is the nearest the law gets to allowing a property owner to approach complete ownership of land. A freehold estate is of unlimited duration.</p> <p><strong>Negative gearing</strong></p> <p>Negative gearing occurs when the return on an investment is not enough to cover the cost of the investment. An example of this is when property maintenance and interest on mortgage repayments is more than the income received from letting or leasing the property.</p> <p><strong>Unencumbered property</strong></p> <p>This is when a property is free of any mortgages, leases, assessments and restrictive covenants.</p> http://www.reisa.com.au/news/understanding-real-estate-jargon http://www.reisa.com.au/news/understanding-real-estate-jargon 2nd Oct 13 Holding interest rates the right decision <p>The Real Estate Institute of Australia (REIA) has welcomed the Reserve Bank of Australia&rsquo;s (RBA) hold on official interest rates with the CEO, Amanda Lynch, highlighting the importance of the low cash rate to home buyers.<br /> <br /> &ldquo;The RBA Board has made a considered and accurate assessment of the property market and we are pleased that media speculation about a housing bubble has been dampened at today&rsquo;s meeting.&rdquo;<br /> <br /> The RBA has slashed official rates by a total of 2.25 percentage points since this cutting cycle began in November 2011. The official cash rate is now at a historically low level of 2.5%.<br /> <br /> &ldquo;As a result of the easing monetary policy, housing affordability in Australia is now at its lowest level in a decade. Nationally, it now takes 28.7% of the median family income to meet average loan repayments,&rdquo; continued Ms Lynch.<br /> <br /> In its September 2013 Financial Stability Review, the Reserve Bank warned home buyers to maintain realistic expectations of future dwelling price growth. The Bank associated an increase in property market activity over the past year, particularly in NSW and from investors, with the recent increases in housing prices.</p> <p>&ldquo;Some markets are performing well but this growth is not, by any means, Australia-wide.&rdquo;<br /> <br /> &ldquo;We believe that maintaining the banks&rsquo; high lending standards is crucial to ensure continued sustainable growth in the Australian housing market.&rdquo;<br /> <br /> &ldquo;Rates, however, need to stay low to provide much needed confidence to first home buyers and increase building activity,&rdquo; concluded Ms Lynch.</p> http://www.reisa.com.au/news/holding-interest-rates-the-right-decision http://www.reisa.com.au/news/holding-interest-rates-the-right-decision 1st Oct 13 Questions you should ask before you hire a property manager <p>If you&#39;re considering hiring a new property manager, or implementing one for the very first time, it&#39;s important to make sure they are the right fit for the job.</p> <p>Asking a few simple questions could potentially save you a lot of drama down the track, so make sure you&#39;ve got the following answered:</p> <p><strong>How many properties do you manage?</strong></p> <p>It&#39;s great to get an experienced person for your property, but you also want to make sure it gets the attention it deserves. If a manager is overseeing too many properties, your pride and joy may not end up being a priority.</p> <p><strong>What&#39;s your history?</strong></p> <p>You&#39;ll want to ensure the person you hire has experience and knowledge to properly manage your property. Ask about their qualifications, what <a class="dnautolink" href="http://www.reisa.com.au/training/property-management-2">property management courses</a> they&#39;ve taken, the time they&#39;ve worked in the industry and their knowledge of the area in which your property is situated.</p> <p><strong>How much do you charge?</strong></p> <p>Property management fees can vary. One smart real estate tip is to shop around and get quotes from several different companies and individuals in order to get the best bang for your buck. Make sure their upfront rates aren&#39;t hiding any back end services such as arranging repairs or checking references.</p> <p><strong>What&#39;s your approach to dealing with tenants?</strong></p> <p>You&#39;ll effectively be handing your property over to the right candidate to look after, so you want to make sure you&#39;re on the same page when it comes to who will be living in your property. Ask candidates how they will screen applicants, deal with tenancy issues, inspect the property and deal with tenant issues.</p> http://www.reisa.com.au/news/questions-you-should-ask-before-you-hire-a-property-manager-149 http://www.reisa.com.au/news/questions-you-should-ask-before-you-hire-a-property-manager-149 27th Sep 13 Buying property at an auction <p>Buying a home at an auction can be an exciting and nerve-wracking experience. If you&#39;re about to take the plunge or you have an interest in the industry, take a look at the following <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate tips</a>.</p> <p><strong>Get legal advice</strong></p> <p>If you&#39;re serious about buying a home, seek assistance from someone who specialises in <a class="dnautolink" href="http://www.reisa.com.au/membershipinformation/membership">real estate law</a>. Go over the contract for sale with them and make sure you have a full understanding of your obligations if you end up winning the auction.</p> <p>Your advisor may suggest additions or changes to be made to the agreement, which both parties&#39; solicitors can discuss. Make sure you&#39;re clear on exactly what is included in the sale, including chattels and furnishings.</p> <p><strong>Come prepared</strong></p> <p>If you place the winning bid at an auction, you have entered into a binding contract. This means you need to sort out your finances before it comes time to bid. You&#39;ll need a written loan approval before the auction takes place, so it pays to contact your lending institution when you begin searching for your new property.</p> <p>If you win the auction you will be required to sign the contract and pay the deposit, which is usually 10 per cent of the property&#39;s purchase price, on the day. Make sure you have all of this in order to avoid any last-minutes stresses ruining your big moment.</p> <p><strong>Know when to bow out</strong></p> <p>Set a price limit before the auction to avoid going over budget in the heat of the moment. If the bidding reaches your set limit, don&#39;t be tempted to bid higher than you can afford. If you think you&#39;ll get carried away as the bidding heats up, step out of the room to avoid committing to a home that&#39;s out of your price range.</p> http://www.reisa.com.au/news/buying-property-at-an-auction http://www.reisa.com.au/news/buying-property-at-an-auction 26th Sep 13 Perception of housing affordability on the rise across Australia <p>Research from Australia&rsquo;s No. 1 property site realestate.com.au&nbsp;has found it&rsquo;s not all doom and gloom when it comes to Australia&rsquo;s outlook on housing affordability.</p> <p>The annual realestate.com.au Housing Affordability Sentiment Index (HASI) has shown the perception of affordability has improved across the country, with this year&rsquo;s HASI revealing that all states and generations have experienced an increase in their sentiment towards the cost of housing over 12 months. The increase in positivity has been driven by an easing of household expenses and debt combined with increasing household savings.</p> <p>Driving the surge in positivity in the HASI report have been first homebuyers and Generation Y.</p> <p>First homebuyers have flooded the market in 2013. The HASI found 46 per cent of the market looking to buy are first homebuyers compared with 28 per cent at the same time in 2012.<span style="font-size: 1em; line-height: 1.5em;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; </span><br /> <br /> <span style="font-size: 1em; line-height: 1.5em;">Generation </span>Y<span style="font-size: 1em; line-height: 1.5em;"> are the most positive about housing affordability in the country, driven largely by an optimistic outlook on their financial position. 45 per cent of Generation </span>Y<span style="font-size: 1em; line-height: 1.5em;"> respondents expected their financial position to improve over the next six months, significantly more than any other generation.</span><span style="font-size: 1em; line-height: 1.5em;">&nbsp;</span></p> <p>Highlighting the positivity of this generation, 14 per cent of Gen Y&rsquo;s surveyed reported they owned an investment property and home, a significant increase on 2012.</p> <p>Reflective of this increasing positivity, the past 12 months have seen strong growth in Australian property values, with figures showing an increase of 5.4 per cent in home values across the country over the past 12 months. And the most recent auction data, from the week ending 15 September, saw the highest number of auctions since March 2013.</p> <p>An increase in auctions can sometimes lead to a decreasing clearance rate, but with high levels of demand throughout Australia clearance rates are steady and remain above a very healthy 75 per cent, substantially higher than this time 12 months ago, yet another indication of returning positivity in the market.</p> <p>Financial commentator and Finance Editor for research and ratings organisation CANSTAR, Justine Davies, said a really encouraging finding from realestate.com.au&rsquo;s Housing Affordability Sentiment Index was the significant jump in first homebuyers looking to enter the market.</p> <p>&ldquo;To me that indicates there is a real feeling now that home ownership is becoming more affordable, in part due to low interest rates that is boosting consumer sentiment,&rdquo; Davies said.</p> <p>&ldquo;As well as low interest rates though, there&rsquo;s also the fact that Gen Y are getting older, with a greater proportion of Gen Y settling into their careers and, as the HASI found, feeling financially confident. That confidence is translating into a willingness to enter the property market.&rdquo;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p>According to realestate.com.au Head of Sales Tom Ainsworth the current market is good news for both buyers and sellers.</p> <p>&ldquo;The increasing positivity is great news for sellers and with spring upon us it is a great time to buy. Historically we see the number of listings increase during spring, which gives buyers more choice of property.</p> <p>&ldquo;Equally for sellers, high clearance rates and increased positivity means it is a great time to put your home on the market if you are looking to sell,&rdquo; Ainsworth said.</p> <p>The report also showed buyers were willing to make sacrifices to achieve the great Australian dream of owning their own home. Consistent with 2012 results buyers were willing to give up luxury items such as swimming pools, luxury cars, and overseas holidays in order to afford a home. However buyers would not compromise on location, 43 per cent of buyers would not consider properties further than 10 km from their ideal location.</p> <p>realestate.com.au recognises the importance of tracking the sentiment of Australians when it comes to housing affordability. As the market leader, the online property site sees it as a critical step to being able to provide consumers with up-to-the-minute property information to help them realise their dream of home ownership.&nbsp;</p> <p>For more information on the 2013 HASI findings, and for more tips and tools to assist in searching for property <a href="http://www.realestate.com.au/blog/housing-affordability-sentiment-index-2013" target="_blank">click here.&nbsp;</a></p> <p>&nbsp;</p> <p>Or for the fact sheet <a href="/documents/item/551" target="_blank">click here.&nbsp;</a></p> <p>&nbsp;</p> http://www.reisa.com.au/news/perception-of-housing-affordability-on-the-rise-across-australia http://www.reisa.com.au/news/perception-of-housing-affordability-on-the-rise-across-australia 26th Sep 13 Young kiwi is Australasian auctioneering champion 2 years in a row <p>23 Year old New Zealander, Daniel Coulson is the 2013 Real Estate Institutes&rsquo; Australasian Auctioneering Champion, taking the trophy for the second year in a row.<br /> <br /> REIA President, Peter Bushby says, &ldquo;The Aussies were hoping to get some sweet revenge this year after a run of several wins by the Kiwis, but young Daniel&rsquo;s skills and talent shone.&rdquo;<br /> <br /> This year, the Real Estate Institute of Western Australia (REIWA) played host and the five finalists who battled it&nbsp;out with Daniel were Justin Nickerson of QLD, Harry Li from VIC, Rob Mason from WA and the other Kiwi finalist, Andrew North.<br /> <br /> &ldquo;The competition is judged by veteran auctioneers after the five finalists were given the address and a tour of a property which they had to mock-sell under the hammer. The clock is ticking and points are deducted for any errors of fact or legislative compliance they may overlook.&rdquo;<br /> <br /> &ldquo;They have to really know their stuff as a crowd of &lsquo;bidders&rsquo; and hecklers tried to put the competitors off and simulate real-life auction situations.&rdquo;<br /> <br /> &ldquo;The choreographed and controlled bidding sequences were hotly contested in front of a crowd of more than 1000.&rdquo;<br /> <br /> &ldquo;We&rsquo;ve seen the cream of the auctioneering crop in action in Perth. It shows just how important it is to keep standards high in all areas of the real estate profession,&rdquo; added Mr Bushby.<br /> REIA is urging state/territory Treasurers to &lsquo;Vote No&rsquo; at the upcoming Standing Council for Federal Financial Relations (SCFFR) to prevent the dumbing down of Auctioneers&rsquo; qualifications from REIA&rsquo;s recommended 12 units of competency to the proposed three by the National Occupational Licensing Authority.<br /> <br /> Open to the public, the Australasian Auctioneering Championships host 23 auctions over two days. The quality is truly exceptional with participants creating momentum in the bidding, while building rapport with the crowd.<br /> <br /> The Championships were first held in 1993 and provide a significant opportunity for the Real Estate Institute of Australia and the Real Estate Institute of New Zealand to show off their very best Auctioneers.</p> http://www.reisa.com.au/news/young-kiwi-is-australasian-auctioneering-champion-2-years-in-a-row http://www.reisa.com.au/news/young-kiwi-is-australasian-auctioneering-champion-2-years-in-a-row 25th Sep 13 Australasia’s best vie for the ultimate gavel <p>The Australasian Auctioneering Championships are an annual event showcasing the most professional and skilled auctioneers from Australia and New Zealand.</p> <p>The Championships are conducted jointly by the Real Estate Institute of Australia (REIA) and the Real Estate Institute of New Zealand (REINZ) and were first held in 1993 to provide both countries with an opportunity to showcase their best auctioneers.</p> <p>This week, the gorgeous city of Perth will host the championships and 18 fierce competitors will vie for the highly coveted title of Auctioneering Champion.</p> <p>Devised bidding processes test the auctioneers&rsquo; expertise and ability to think on their feet. To be successful, competitors have to deal with a wide range of testing questions and unpredictable bids.</p> <p>REISA Chief Executive Officer, Mr Greg Troughton, said that the flair and talent of the auctioneers is truly exceptional; participants need to create momentum in the bidding while building rapport with the crowd.</p> <p>&ldquo;From South Australia, we have Lindsay Warner of&nbsp;Brock Williams Harcourts, a veteran of the auction world and Jarad Henry of LJ Hooker Glenelg, one of the young guns in auctioneering&rdquo;.</p> <p>&ldquo;Both of these auctioneers are extremely talented and watching them in auctioneering action is thrilling&rdquo; he said.</p> <p>Combining skill, professionalism and technical knowledge, the contestants are highly accomplished and high-energy performers.</p> <p>&ldquo;The competition is tough and the stakes are high. New Zealand auctioneers have won five championships out of the last six. I think it&rsquo;s time we bring the trophy home&rdquo; he said.</p> <p><strong>Finalists announced</strong></p> <p>Rob Mason &ndash; WA<br /> Daniel&nbsp;Coulson&nbsp;&ndash;&nbsp;NZ<br /> Andrew North &ndash;&nbsp;NZ<br /> Harry&nbsp;Li&nbsp;&ndash;&nbsp;VIC<br /> Justin&nbsp;Nickerson&nbsp;&ndash;&nbsp;QLD</p> <p><a href="http://auctionchampionships.com.au/Contestants.aspx" target="_blank">Read More...</a></p> <p>&nbsp;</p> <p>For more information on this event, or to request photographs, please contact <a href="mailto:Lisa.Stewart@reisa.com.au?subject=Auctioneering%20Championships%20enquiry">Lisa.Stewart@reisa.com.au</a><br /> <br /> &nbsp;</p> http://www.reisa.com.au/news/australasias-best-vie-for-the-ultimate-gavel-144 http://www.reisa.com.au/news/australasias-best-vie-for-the-ultimate-gavel-144 25th Sep 13 The final countdown <p>The final countdown to the new legislation has begun.</p> <p>On 1 January 2014 the new sales and property management legislation will commence.</p> <p>REISA is conducting sessions throughout November in metro and regional South Australia to get you up to speed and to answer any questions you may have.</p> <p>Over 1,400 real estate professionals completed the legislative training earlier this year.&nbsp; REISA firmly believes that forewarned is forearmed.</p> <p>But if you think that&rsquo;s enough, think again!</p> <p>There are 18 brand new regulations in the property sales legislation which will affect your daily business.</p> <p>And although REISA has yet to see the property management regulations, there will be a host of new forms and documentation for property managers to understand.</p> <p>It is essential that all real estate professionals know the new laws and are able to apply them correctly to their business.</p> <p>Register yourself for a training spot online now at www.reisa.com.au/training.&nbsp; Sessions are filling up quickly, so make sure you book now.</p> <p>Don&rsquo;t forget that from 1 January 2014 Consumer and Business Services will have access to the Indemnity Fund for compliance and prosecution activities.</p> <p>Don&rsquo;t be the first to breach the new laws.</p> <p>&nbsp;</p> <p><span style="line-height: 1.5em; font-size: 1em"><a href="http://www.reisa.com.au/training/legislative-update-training" target="_blank">Click here </a>for more details.</span></p> http://www.reisa.com.au/news/the-final-countdown http://www.reisa.com.au/news/the-final-countdown 19th Sep 13 Try a bite sized REISA property management course! <p>Anyone with a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a> in property management knows fully well how demanding the job can be.</p> <p>That&#39;s why it&#39;s a good idea to take advantage of any career development opportunities available to take your career that one step further and stay on top of your game.</p> <p>It can be hard fitting in time for further education in your already packed schedule - that&#39;s where REISA&#39;s unique Bite Sized <a class="dnautolink" href="http://www.reisa.com.au/training/property-management-2">Property Management courses</a> come in.</p> <p>These handy morning classes pack in all you need to know on specific property management issues in just two hours, delivering a focused, intensive program and leaving the rest of the day to you!</p> <p>Here are two of the Bite Sized courses we offer in the coming weeks:</p> <p><strong>Best Practice Documentation for PMs</strong></p> <p>As a property manager you&#39;ll deal with a lot of paperwork every day, and it&#39;s easy to be overwhelmed by the sheer amount of documentation you need to handle.</p> <p>The Best Practice Documentation for PMs course will teach you invaluable tips for the office, for example keeping track of your paper trail, extending sole management agreements and making variations to an original document.</p> <p>This course is held on September 26 at the REI House in Dulwich, from 9.30 a.m. to 11.30 a.m.</p> <p><strong>Smart Water Invoicing Systems for PMs</strong></p> <p>Managing a property&#39;s water supply is one of the toughest tasks for any manager. You might have already come across issues such as splitting the bill between tenants, calculating water usage and resolving disputes.</p> <p>This course covers these topics, in addition to other skills such as accurately reading an SA water bill and using software to calculate water invoicing.</p> <p>Come along to the REI House on October 9, 9.30 a.m. to 11.30 a.m., to learn more about smart water management!</p> http://www.reisa.com.au/news/try-a-bite-sized-reisa-property-management-course http://www.reisa.com.au/news/try-a-bite-sized-reisa-property-management-course 17th Sep 13 SA community housing receives further stimulus boost <p>The South Australian government is continuing to prove its dedication to social welfare after committing more funding to expand the state&#39;s community housing options.</p> <p>Following the opening of Common Ground facilities in various locations around SA in recent months, Minister for Social Housing Tony Piccolo announced in a September 16 media release that a $20 million package will boost the building industry and provide over 120 new and affordable homes.</p> <p>A total of nine community housing providers will be allocated a portion of the package, and Mr Piccolo stated that the funding will benefit both the state&#39;s builders and its vulnerable citizens.</p> <p>&quot;This funding package is about delivering good social and economic outcomes for South<br /> Australia,&quot; he said.</p> <p>&quot;It supports our construction industry in what are challenging times for the sector by supporting developments that, in some cases, have stalled while delivering new and affordable homes to&nbsp;help support some of our most vulnerable and disadvantaged citizens.&quot;</p> <p>As a result, Mr Piccolo said, the supply of affordable rental options in South Australia will increase, while at the same time low income households will see lower rental costs.</p> <p>The range of community housing providers involved in the program is diverse, from Anglicare and Junction Housing to Westside Housing and Women&#39;s Housing.</p> <p>Of course, Common Ground will also be involved once again, with 12 homes planned across two sites in central Adelaide.</p> <p>A mix of metropolitan and rural areas around the state will see new, affordable homes being built, including Woodville Gardens, Flinders Park, Andrews Farm and Murray Bridge.</p> <p>The construction of the houses is scheduled to be completed by the end of 2014, and Mr Piccolo had some <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> regarding social housing in South Australia.</p> <p>&quot;Everyone deserves to have somewhere secure to live and this investment in affordable&nbsp;housing will provide that for some of the most disadvantaged people in our community.&quot;</p> http://www.reisa.com.au/news/sa-community-housing-receives-further-stimulus-boost http://www.reisa.com.au/news/sa-community-housing-receives-further-stimulus-boost 17th Sep 13 REIA welcomes LJ Hooker to Affiliates’ Council <p>The Real Estate Institute of Australia (REIA) is excited to announce&nbsp;LJ&nbsp;Hooker has joined its Affiliates&rsquo; Council.<br /> <br /> REIA&nbsp;CEO, Ms Amanda Lynch says, &ldquo;It&rsquo;s fantastic that&nbsp;LJ&nbsp;Hooker has come on board to benefit from what&nbsp;REIA&nbsp;offers its members.&rdquo;<br /> <br /> &ldquo;REIA&rsquo;s&nbsp;Affiliate members have alignment with the leading industry association for Australia&rsquo;s real estate profession, benefiting from&nbsp;REIA&rsquo;s&nbsp;advocacy on their behalf and through our strong relationship with national media.&rdquo;<br /> <br /> LJ&nbsp;Hooker joins First National Real Estate, Professionals Real Estate Group and Estate Agents Co-operative as&nbsp;REIA&nbsp;Affiliates.<br /> <br /> LJ&nbsp;Hooker CEO&nbsp;Georg&nbsp;Chmiel&nbsp;says, &quot;In Australia,&nbsp;LJ&nbsp;Hooker comprises 550 offices and 2,500 agents. With the national&nbsp;licensing&nbsp;debate gathering steam it&#39;s important that&nbsp;LJ&nbsp;Hooker as a group has an opportunity to be part of these discussions and represented by&nbsp;REIA&nbsp;via the Affiliates&#39; Council.&rdquo;<br /> <br /> &quot;We&#39;re pleased to be a founding member of&nbsp;REIA&#39;s&nbsp;Affiliates&#39; Council and we&#39;re looking forward to being an integral member, working together to advance and promote the industry for real estate specialists and customers alike, &ldquo;said Mr&nbsp;Chmiel.<br /> <br /> &ldquo;The Affiliates&rsquo; Council has already made some significant policy inroads on issues such as clarification with Safe Work Australia on occupational health and safety requirements, the Franchising Review, tax reform and offering support to&nbsp;REIA&nbsp;on its campaign against the&nbsp;&lsquo;dumbing&nbsp;down&rsquo; of the real estate profession under the national&nbsp;licensing&nbsp;proposals,&rdquo; concluded Ms Lynch.</p> http://www.reisa.com.au/news/reia-welcomes-lj-hooker-to-affiliates-council http://www.reisa.com.au/news/reia-welcomes-lj-hooker-to-affiliates-council 16th Sep 13 BIS Shrapnel: Adelaide to see "moderate" growth in residential land <p>Leading business analyst and forecaster BIS Shrapnel has predicted that Adelaide is set to be part of a nationwide trend in increasing demand for residential land.</p> <p>BIS Shrapnel released details of their &quot;Outlook for Residential Land, 2013 to 2018&quot; report, which singled out Sydney and Perth as the fastest growing residential land markets in the country.</p> <p>Melbourne and Adelaide are tipped to follow in their footsteps, but are likely to enjoy more modest rises, with land demand in the South Australian capital to remain &quot;subdued, although growing&quot;.</p> <p>According to BIS Shrapnel, Adelaide and Melbourne enjoyed the strongest residential recovery following the Global Financial Crisis, but the boom in land production and the subsequent growth in land price has seen demand for new houses peter out in recent years.</p> <p>Nonetheless, Adelaide is faring better than the likes of Brisbane, and Angie Zigomanis, senior manager and report series author at BIS Shrapnel, offered some <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> as to the reasons why.</p> <p>&quot;The weaker markets in lot production in Melbourne and Adelaide reflect activity falling from unsustainable record levels,&quot; he said.</p> <p>&quot;Conversely, the weakness in the other cities was the result of excess supply, weak underlying demand, and constrained affordability after land prices had peaked in earlier years. These issues are now starting to wash through, with the recent declines in interest rates expected to be the trigger for a pickup in demand into 2014.&quot;</p> <p>BIS Shrapnel also pointed out that improved housing affordability, which was fuelled in part by historically low interest rates, will likely lead to a &quot;moderate&quot; increase in demand for new houses in Adelaide. Although this will ultimately depend on whether the excess of dwellings in the city&#39;s property market remains.</p> http://www.reisa.com.au/news/bis-shrapnel-adelaide-to-see-moderate-growth-in-residential-land http://www.reisa.com.au/news/bis-shrapnel-adelaide-to-see-moderate-growth-in-residential-land 13th Sep 13 A day in the life of a property manager <p>A <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a> in property management is ideal for anyone who thrives in busy environments where they deal with a wide range of people.</p> <p>You will need exceptional time management, negotiation and people skills to maintain the upkeep of your properties and their tenants.</p> <p>What are some of the tasks you&#39;ll be juggling in an average day as a property manager?</p> <p><strong>Liaising</strong></p> <p>Essentially you will be acting as the link between a property&#39;s owners and the people that inhabit it, so you will need superb liaising skills.</p> <p>You have to ensure that your management of the property is in the best interests of both parties while maintaining a neutral standpoint.</p> <p><strong>Resolving complaints</strong></p> <p>From leaky roofs to faulty heating systems, you will be on call at all times of the day to resolve the complaints of your tenants.</p> <p>You will need to take a hands-on approach to quickly and effectively provide solutions for your tenants.</p> <p><strong>Property maintenance</strong></p> <p>Being a good property manager also requires you to take a proactive approach in making sure your property is well maintained at all times.</p> <p>This involves keeping an eye out for any tenants who are misusing the property or breaching the terms of their lease.</p> <p><strong>Marketing</strong></p> <p>One of your most important tasks, from the property owner&#39;s perspective, is to make sure the property maintains a high level of occupancy.</p> <p>Listing vacancies and finding the right people to fill them is all part of the job.</p> <p><strong>Collecting rent</strong></p> <p>Finally, it is of course important to make sure the tenants are paying their rent on time!</p> <p>Therefore you will need good people skills and a diplomatic approach to dealing with any stragglers.</p> <p>Property management might sound a bit daunting to some, but with the right <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a>, anyone can enjoy this rewarding profession.</p> <p>REISA offers a range of excellent <a class="dnautolink" href="http://www.reisa.com.au/training/property-management-2">property management courses</a> to get you started right away!</p> http://www.reisa.com.au/news/a-day-in-the-life-of-a-property-manager http://www.reisa.com.au/news/a-day-in-the-life-of-a-property-manager 13th Sep 13 Myths about Real Estate with Andrew Winter <p><a href="/documents/item/536" target="_blank">Click here</a> to read the full publication.</p> http://www.reisa.com.au/news/myths-about-real-estate-with-andrew-winter http://www.reisa.com.au/news/myths-about-real-estate-with-andrew-winter 13th Sep 13 The importance of professional property management <p>With the tenancy market remaining tight and more investors returning to property it makes sense to use a professional property manager to help maximise your return.</p> <p>When choosing a property manager to look after your important asset, make sure that they are a member of Real Estate Institute of South Australia (REISA).&nbsp; This will give you peace of mind that your rental property is being cared for properly as members will follow the REISA Code of Conduct and Professional Standards and undertake regular professional development sessions.</p> <p>The main role of a property manager is to take away your rental headaches as they understand the current market and have established procedures to deal with any issues.&nbsp; They will take phone calls when there is a problem with the property and they know who to call to get it fixed.</p> <p>Most property managers will have a pool of potential tenants to choose from, have many avenues to give maximum exposure to your property and find the best tenant for your property, undertake careful screening of all applications, do regular inspections to ensure the tenants are looking after your property, organise regular rental payments and chase-up any outstanding payments.</p> <p>Most importantly professional property managers will be familiar with the legal obligations and provisions under the Residential Tenancies Act 1995. These complex regulations ensure that both the tenant and landlord get a fair deal and should a dispute arise during the tenancy, your property manager will follow the correct procedures to resolve any issues.&nbsp; This may involve appearing at the Residential Tenancies Tribunal on your behalf or chasing outstanding debts.</p> <p>For peace of mind it is recommended you use only a qualified, professional property manager.</p> http://www.reisa.com.au/news/the-importance-of-professional-property-management http://www.reisa.com.au/news/the-importance-of-professional-property-management 12th Sep 13 How to prepare for an open home <p>First impressions count in all aspects of life, whether personal or professional.</p> <p>The same concept applies when you&#39;re selling your house - you want to give the best impression to all those potential buyers, and you only get one chance to get it right.</p> <p>While your real estate agent will do most of the work in accommodating the visitors to your property, there are a few things you can do yourself to make sure your open home isn&#39;t a wasted opportunity.</p> <p>Here are our <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate tips</a> on preparing for a successful open home.</p> <p><strong>Clean up</strong></p> <p>It certainly sounds obvious, but many people still neglect the importance of making a house spotless before opening it to the public.</p> <p>Gather the family together and scrub every inch of the house, paying even more attention to detail than in your routine cleans.</p> <p>If you really want to play it safe, you could even hire a professional cleaning service the day before the open home.</p> <p><strong>Open up</strong></p> <p>There is nothing quite like a steady supply of natural light and fresh air to increase the appeal of your home.</p> <p>In addition to bringing your interior to life, a home with plenty of light and air will give off positive and healthy vibes to visitors.</p> <p><strong>Mind the senses</strong></p> <p>You shouldn&#39;t just pay attention to how your house looks - be wary of how it smells as well.</p> <p>Allowing fresh air into your home will get rid of any unpleasant odours and help create a welcoming environment.</p> <p>As a bonus, you can even prepare fresh coffee or bake some treats right before the open home to fill your house with some sweet smells!</p> <p><strong>Be neutral</strong></p> <p>When someone visits a house they&#39;d potentially buy, they&#39;re likely to imagine themselves living in it.</p> <p>Therefore it is a good idea to take down personal touches such as family photos, illustrations and other memoirs to offer visitors a neutral environment.</p> http://www.reisa.com.au/news/how-to-prepare-for-an-open-home http://www.reisa.com.au/news/how-to-prepare-for-an-open-home 11th Sep 13 Real estate tips for social media <p>The savviest businesses these days are taking advantage of the immense benefits that having a social media presence provides.</p> <p>If used in the right way, social media can be one of the most cost-effective, far-reaching and powerful marketing tools out there.</p> <p>As a real estate agent managing your own business and clients, there is no reason why you too shouldn&#39;t promote your presence online, if you haven&#39;t done so already.</p> <p>REISA has some <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> on how to best leverage this tool.</p> <p><strong>Get visual</strong></p> <p>Social networking sites such as Facebook are a great platform for uploading and sharing photos of your properties, therefore providing another avenue through which you can advertise your listings.</p> <p>People are more likely to engage with a piece of content if there are accompanying pictures, so don&#39;t be afraid to show off your properties in all their glory!</p> <p>To take it one step further, you can even upload videos on YouTube and link these back to your listings - a video tour is a great way to take potential customers around the property from the comfort of their own home.</p> <p><strong>Build your network</strong></p> <p>Facebook is a great place to connect with people and win &#39;friends&#39;, but make sure you have a professional profile as well on LinkedIn.</p> <p>You can easily search for and build relationships with other real estate agents, and also ask for referrals and endorsements from clients you have enjoyed success with.</p> <p><strong>Engage</strong></p> <p>Successful real estate agents build long-lasting relationships with their clients, and there is no better way of reaching out to a large audience than by engaging with them on social media.</p> <p>Encourage people to &#39;like&#39; properties they are interested in, ask for their opinions on the latest property trends and take the initiative in answering any questions they may have.</p> <p>You can even use the Events feature on Facebook to invite people to an open home.</p> http://www.reisa.com.au/news/real-estate-tips-for-social-media http://www.reisa.com.au/news/real-estate-tips-for-social-media 11th Sep 13 House price and rent growth patchy <p>Growth has continued in median prices for the Australian residential property market, but the rise is not across the board, according to the latest Bendigo Bank/REIA Real Estate Market Facts.</p> <p>Real Estate Institute of Australia (REIA) President Peter Bushby says, &quot;The weighted average, capital city, median price increased by 3.3% for houses and 2.6% for other dwellings over the June quarter 2013.&quot;</p> <p>&quot;The weighted average, median house price for eight capital cities is now $549,898 with Sydney, Melbourne, Brisbane, Adelaide and Darwin all contributing to the increase.&quot;</p> <p>&quot;However, Perth and Canberra both dipped and Hobart recorded the biggest drop, down by 3.5%.&quot;</p> <p>&quot;Hobart also has the lowest median house price at $347,300 while Sydney has the highest across the capital cities at $690,064.&quot;</p> <p>&quot;Compared to the same time last year, the median house price for the capital cities rose 6.1% and with the exception of Hobart, went up in all capitals. Melbourne had the biggest jump over the year, up by 8.4%.&quot;</p> <p>&quot;There was mixed news for investors too over the June quarter, with median house rents for three bedroom houses decreasing in most capital cities. Darwin had the only rise and there was no change in Perth or Hobart.&quot;</p> <p>&quot;However, compared to the June quarter of last year, Darwin and Perth had large increases in median rents for other dwellings, up by 18.6% and 12.2% respectively,&quot; concluded Mr Bushby. The Bendigo Bank/REIA Real Estate Market Facts can be found by <a href="/documents/item/522" target="_blank">clicking here.</a></p> http://www.reisa.com.au/news/house-price-and-rent-growth-patchy http://www.reisa.com.au/news/house-price-and-rent-growth-patchy 10th Sep 13 Boost your real estate career with a professional development course <p>You&#39;ve finally got that property degree or certificate under your belt and you&#39;ve just been registered as a member of a real estate agency.</p> <p>You might feel like you&#39;re ready to take on the world - but is there anything else you need?</p> <p>Whatever stage of your career you are at, taking a professional development course is a great way to ensure you stay ahead of the competition.</p> <p>Offering quality education and training in the form of short, intensive programmes suitable for busy professionals, these courses can help you add value to your existing qualifications and skills.</p> <p>REISA provides a broad range of <a class="dnautolink" href="http://www.reisa.com.au/training/training">real estate courses</a> all throughout the year covering all aspects of real estate sales and property management.</p> <p>Brush up on your expertise with one of these invaluable courses!</p> <p><strong>Business Sales - Level 1</strong></p> <p>If your area of interest lies in the marketing and selling of businesses, this is the course for you.</p> <p>This intensive one-day programme will take you through the ropes of negotiating a successful business sale, from listing the business, recognising the value of a franchise, legislation and licenses to financial statements and pricing.</p> <p><strong>Sales</strong></p> <p>Learn how to realise your sales potential and maximise your earnings by attending these handy lunchtime sessions.</p> <p>The course covers all the tips of the trade on how to take your income up those extra notches, such as increasing productivity, setting the best sale price, setting and measuring goals and managing your work and life balance.</p> <p><strong>Property Management</strong></p> <p>Property management is a demanding career that rewards those who are willing to take the initiative, and attending one of our Bite Sized <a class="dnautolink" href="http://www.reisa.com.au/training/property-management-2">Property Management courses</a> will set you on the right track.</p> <p>These courses will get you up to speed on the fundamentals of property management, including documentation and accounting best practices.</p> http://www.reisa.com.au/news/boost-your-real-estate-career-with-a-professional-development-course http://www.reisa.com.au/news/boost-your-real-estate-career-with-a-professional-development-course 9th Sep 13 First home buyers need encouragement <p>The Real Estate Institute of Australia (REIA) says the latest housing finance figures released by the Australian Bureau of Statistics (ABS) show that total lending for housing continues to grow steadily in response to interest rate cuts and the positive housing outlook, but that first home buyers are missing out.<br /> <br /> Housing finance figures for July 2013 show, in trend terms, that the number of owner-occupied finance commitments rose by 1.6 per cent &ndash; following increases of 2.1 per cent in June and 2.4 per cent in May.<br /> <br /> If refinancing is excluded, the increase, in trend terms for July, is 1.5 per cent.<br /> REIA&nbsp;President, Peter&nbsp;Bushby&nbsp;says, &ldquo;Increases were recorded in all states with the largest increases in the ACT and Queensland, up 2.0 per cent and 1.9 per cent respectively, in trend terms.&rdquo;</p> <p>&ldquo;There are increases in the purchase of established dwellings (up 1.8 per cent in trend terms), the purchase of new dwellings (up 1.4 per cent in trend terms) and the number of commitments for the construction of new dwellings (up 0.2 per cent in trend terms),&rdquo; Mr&nbsp;Bushby&nbsp;continued.<br /> <br /> &ldquo;The proportion of first home buyers in the number of owner-occupied housing finance commitments fell to 14.7 per cent compared to the June figure of 15.1 per cent. The figure remains persistently low compared to the long-run average proportion of 20.1 per cent despite seven interest rate cuts since November 2011.&rdquo;<br /> <br /> &ldquo;In large part, this drop can be attributed to State Governments withdrawing previous levels of support for first home owners buying established dwellings and it is established dwellings that 80 per cent of first home buyers prefer.&rdquo;<br /> <br /> The value of investment housing commitments rose by 0.8 per cent, in trend terms, in July resulting in over a year of consecutive monthly increases.<br /> <br /> &ldquo;With the proportion of first home buyers remaining consistently below the long term average, this needs to be a high priority issue for the incoming Government,&rdquo; concluded Mr Bushby.</p> http://www.reisa.com.au/news/first-home-buyers-need-encouragement http://www.reisa.com.au/news/first-home-buyers-need-encouragement 6th Sep 13 SA continues to lead the way in social housing <p>The latest community projects in South Australia - such as the Westwood Project and New Ideas for Growth - are proving that the state continues to be at the forefront of social welfare in the country.</p> <p>The Westwood Project set out to revitalise Ferryden Park as well as other areas of Adelaide by providing substantial more affordable housing in the region.</p> <p>In a September 3 media release, Minister for Social Housing Tony Piccolo explained just how much the project means to the South Australian community.</p> <p>&quot;The Westwood Project is the largest urban renewal project in Australia, and is a reminder of the truly great things we can achieve when we work together to build stronger communities,&quot; he said.</p> <p>&quot;Through a significant investment from the state government, local government and the private sector, this 12-year project has delivered a safe and sustainable community - a community that residents can be proud of.&quot;</p> <p>Mr Piccolo also announced further details of the government&#39;s New Ideas for Growth program, which is a long-term project aimed at providing more social housing amenities for South Australians in need.</p> <p>The program provides an open forum for members of the community to put forward ideas on expanding the social housing sector in South Australia and on how to &quot;better connect people to place&quot;.</p> <p>According to Mr Piccolo, New Ideas for Growth will give funding of up to $10,000 for the proposals of several community housing ideas that can be implemented in the state.</p> <p>Therefore, anyone in South Australia who has a clear idea on how the community housing sector in the state should move forward is encouraged to take Mr Piccolo&#39;s <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> and make a submission.</p> <p>South Australia&#39;s leadership in such social initiatives is by no means new. These developments follow the rise of Common Ground services in the state, with a proposed site in Port Augusta adding to the facility which opened in Adelaide&#39;s CBD last month.</p> http://www.reisa.com.au/news/sa-continues-to-lead-the-way-in-social-housing http://www.reisa.com.au/news/sa-continues-to-lead-the-way-in-social-housing 4th Sep 13 3 warning signs to look out for in real estate agents <p>You&#39;ve probably heard the adage that there are bad real estate agents, good real estate agents and also great real estate agents.</p> <p>When you are planning to sell your home, it&#39;s crucial to hire the right person for the job.</p> <p>With so many registered professionals out there, it can be hard to identify who the very best agent in your area is - but on the other hand, it should be easy to weed out those who you should steer well away from.</p> <p>Check out these <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate tips</a> for the three traits your agent should definitely not have:</p> <p><strong>1. They don&#39;t listen</strong></p> <p>Selling a home with an agent is a two-way business relationship and they must have your best interests in mind.</p> <p>If they don&#39;t bother to ask in detail about your plans and preferences, or if it&#39;s a mission to get a hold of them on the phone, you should probably move on and look for someone who cares.</p> <p><strong>2. They lack experience</strong></p> <p>An agent&#39;s job should be their full-time occupation, and they should have a good portfolio of recent sales to show they know how to get results.</p> <p>Additionally, make sure they&#39;ve taken the appropriate <a class="dnautolink" href="http://www.reisa.com.au/training/training">real estate courses</a> and training and are a member of an accredited body.</p> <p><strong>3. They&#39;re too pushy</strong></p> <p>This is linked to the first point about having your best interests at heart. Your agent should work with your needs and demands at the core, offering their expert guidance when required.</p> <p>Never let the agent push you in a direction you aren&#39;t 100 per cent comfortable with.</p> <p>The truth is that there are a lot of substandard real estate agents out there, but it shouldn&#39;t take long to find one that meets your needs.</p> <p>Enlisting the services of REISA member will give you extra peace of mind, as they will have had thorough <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate agent training</a> and uphold the highest ethics according to our code of conduct.</p> http://www.reisa.com.au/news/3-warning-signs-to-look-out-for-in-real-estate-agents http://www.reisa.com.au/news/3-warning-signs-to-look-out-for-in-real-estate-agents 4th Sep 13 Affordability continues to improve with interest rate cuts <p>The latest Adelaide Bank/REIA Housing Affordability Report shows that housing affordability has now been improving for the past two years, with the proportion of income required to meet repayments at 28.7% - its lowest in a decade.</p> <p>Real Estate Institute of Australia President, Peter Bushby says, &ldquo;With the exception of the Northern Territory, all states and territories recorded improvements over the quarter, the largest in Queensland where the proportion of income required in order to meet loan repayments dropped by 1.9 percentage points to 26%.&rdquo;</p> <p>&ldquo;Due largely to a higher average income, the ACT is still the most affordable state or territory in which to buy a home and NSW remains the least affordable with the proportion of income required to meet loan repayments 5.6 percentage points higher than the nation&rsquo;s average.&rdquo;</p> <p>&ldquo;Despite relatively low average loan size and rents, South Australia is one of the least affordable states or territories in which to buy or rent.&rdquo;</p> <p>&ldquo;Affordability is improved in all states and territories when compared to the same time last year and no doubt, the seven interest rate cuts since November 2011 have played a role.&rdquo;</p> <p>&ldquo;The variable interest rate declined 0.2 percentage points, from 6.1% to 5.9% in the June quarter, which is a decrease of 0.7 percentage points compared to the same time last year and the three year fixed rate fell by 0.3 percentage points over the quarter and 0.9 percentage points compared to the June quarter 2012, to 5.1%.&rdquo;</p> <p>&ldquo;More is required to entice first home buyers back though, through stamp duty reforms, access to superannuation and first home buyers&rsquo; assistance. They made up just 14.6% of the owner-occupier market, a persistently low number compared to the long-run average proportion of 20%.&rdquo;</p> <p>&ldquo;Victoria had the largest jump in the number of loans to first home buyers over the quarter and Western Australia the largest over the year.&rdquo;</p> <p>Rental affordability improved with the proportion of income required to meet rent payments decreasing slightly to 23.7% and the quarter showed it is now more affordable to buy than rent in Tasmania.</p> <p>Adelaide Bank/REIA Housing Affordability Report is available for purchase by <a href="http://www.reia.com.au/real-estate-australia-deposit-power-report.php">clicking here.</a></p> http://www.reisa.com.au/news/affordability-continues-to-improve-with-interest-rate-cuts http://www.reisa.com.au/news/affordability-continues-to-improve-with-interest-rate-cuts 3rd Sep 13 Rates on hold ahead of Federal Election <p>The Real Estate Institute of Australia (REIA) says that the decision made by the Reserve Bank of Australia (RBA) to keep official interest rate on hold days before the election was the right one.</p> <p>REIA President Peter Bushby says, &ldquo;In recent years, lower borrowing costs have been a major driver of improving housing affordability and have helped many Australians with their mortgages.&rdquo;</p> http://www.reisa.com.au/news/rates-on-hold-ahead-of-federal-election http://www.reisa.com.au/news/rates-on-hold-ahead-of-federal-election 2nd Sep 13 REISA - Bigger and Better than ever <p>2013 is shaping up to be one of REISA&rsquo;s biggest and best years.</p> <p>We have actively listened to you over the last year.&nbsp; We have heard your concerns.&nbsp;&nbsp; We have found out what you like and don&rsquo;t like.&nbsp; And we have acted upon it.</p> <p>We are delighted that our commitment to bringing you more benefits, privileges and information than ever before is meaning that more of you are joining REISA and experiencing everything we have to offer.</p> <p>Since January, REISA has experienced a record in new membership applications.&nbsp; We have accepted 277 new members into the fold bringing the total of the REISA family to 1, 753.&nbsp; That gives us a powerful platform for advocacy and change &ndash; and stay tuned, soon we will have exciting news about our stunning success with the Government on further legislative and regulatory reforms.</p> <p>Now before you all start saying that our membership increase is only due to the legislative training that REISA is offering, we say to you &ndash; it doesn&rsquo;t matter what the reason is, but we have got the message loud and clear - if we give you what you want, then you will take the journey with us as a member of South Australia&rsquo;s leading property voice.</p> <p>We are also delighted that our website is going from strength to strength &ndash; so much so that over the last 12 months it has experienced a massive 50% increase in views.</p> <p>Our monthly Ebook and weekly newsletter continue to be highly successful with the number of you opening it (and hopefully reading it) at an impressive 65% above the industry average.</p> <p>We could bore you with more stats and figures but the message is simple.&nbsp; If we continue to get things right &ndash; and we know we can&rsquo;t please everyone all the time &ndash; then the numbers can only get higher and our voice even louder.&nbsp;</p> http://www.reisa.com.au/news/reisa-bigger-and-better-than-ever http://www.reisa.com.au/news/reisa-bigger-and-better-than-ever 30th Aug 13 SA housing affordability remains high <p>Housing affordability continues its cyclical rise across the country, including in South Australia, according to a recent report.</p> <p>The Housing Industry Australia (HIA) posted results from its HIA-Commonwealth Bank Housing Affordability Index on August 28, which showed that the nationwide index increased by 4.4 per cent to 72.8 in the June 2013 quarter.</p> <p>This trend was also reflected in each capital city around Australia, with Adelaide reporting one of the highest cyclical rises in affordability.</p> <p>The South Australian capital had the third highest rise in affordability in the June 2013 quarter, up by 7.7 per cent from the previous quarter.</p> <p>Brisbane recorded the highest increase with 10.4 per cent, while Melbourne ranked the lowest with only a 2.2 per cent rise.</p> <p>The regions outside the capitals also marked positive trends in affordability - for example, the rest of South Australia also posted a 7.7 per cent increase to match the rise in Adelaide.</p> <p>Overall, Adelaide now ranks as the third most affordable housing market among the capitals with a level of 78.7.</p> <p>Investors looking to take advantage of this seasonal peak in housing affordability may therefore wish to enter the property market now with the help of some solid <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a>.</p> <p>For those who are still a little unsure, they may be buoyed by the Australian Bureau of Statistics&#39; (ABS) recent findings regarding housing costs across Australia.</p> <p>The ABS found that the proportion of income spent on housing remained steady and on a par with previous years, for both private renters and owners with mortgages.</p> <p>Homeowners with a mortgage spent an average of $432 per week on housing costs, which represented 18 per cent of their average gross weekly income, according to an ABS report released on August 28.</p> <p>Private renters paid a similar amount on housing, with 20 per cent of their weekly income dedicated to this expense.</p> http://www.reisa.com.au/news/sa-housing-affordability-remains-high http://www.reisa.com.au/news/sa-housing-affordability-remains-high 30th Aug 13 Tax Reform and Industrial Relations need to be on the agenda <p>Property taxes such as stamp duty are inefficient and should be abolished, says the Real Estate Institute of Australia (REIA).<br /> <br /> REIA President Peter Bushby says, &ldquo;The next Government needs to make the tough decisions. Action, not rhetoric, is what&rsquo;s needed now.&rdquo;<br /> <br /> &ldquo;Stamp duties on property transfers are not only inefficient but they are costly to manage, reduce national competitiveness and productivity and are unequally and unfairly applied.&rdquo;<br /> <br /> &ldquo;Taxes set by all three tiers of government impact on housing affordability. Stamp duties, land taxes, risk premiums and finance charges push up the cost of new housing and restrict housing supply.&rdquo;<br /> <br /> &ldquo;The average tax burden on the new housing sector is estimated at around 31% of the value of output. It&rsquo;s estimated that the removal of some inefficient taxes could reduce the cost of housing by around 10%.&rdquo;<br /> <br /> &ldquo;We want to see the establishment of an independent, ongoing Tax Reform Review Group (TRRG) comprising industry and welfare groups, to have an advisory role to Government and the Parliament on a schedule for tax reform.&ldquo;<br /> <br /> &ldquo;We welcome comments by the Opposition that all taxes, including GST, will be reviewed by the Productivity Commission and that unnecessary taxes will be abolished. This will encourage business to grow and create more jobs,&rdquo; added Mr Bushby.<span style="font-size: 1em; line-height: 1.5em;">REIA is also fighting for the amendments to The Fair Work Act, introduced into the Parliament earlier this year, to protect penalty rates by &lsquo;writing them into law&rsquo;, to be scrapped.</span></p> <p>&ldquo;Real estate agents require flexibility in their working hours with evening and weekend work required to meet clients&rsquo; needs. It is recognised and understood that their hours are dictated by the convenience of their clients.&rdquo;<br /> <br /> &ldquo;Over 98% of agents provide real estate services on a Saturday. Saturday is a convenient time for the general public to attend to their real estate needs with 92% of open homes held that day.&rdquo;<br /> <br /> &ldquo;The introduction of penalty rates for evening or weekend work for real estate agents would require a complete rethink on how real estate agencies conduct their business,&rdquo; concluded Mr Bushby.</p> <p>REIA&rsquo;s Election Policies can be found by <a href="http://reia.com.au/userfiles/MEDIARELEASE_1372030438.pdf">clicking here.</a></p> http://www.reisa.com.au/news/tax-reform-and-industrial-relations-need-to-be-on-the-agenda http://www.reisa.com.au/news/tax-reform-and-industrial-relations-need-to-be-on-the-agenda 28th Aug 13 What should you look for in an investment property? <p>Purchasing an investment property can be a difficult exercise, with a slew of financial and market considerations to take into account.</p> <p>For beginners especially, it can be hard to judge whether you will receive sufficient returns on your investment.</p> <p>However, historically low interest rates have lowered the cost of borrowing and many more people are gaining the confidence to jump into the property market.</p> <p>REISA has some <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate tips</a> to offer those looking to join in - here are some points to consider before choosing a property to invest in.</p> <p><strong>The neighbourhood</strong></p> <p>The immediate surroundings of the property are obviously one of the most important factors to look at before buying a property.</p> <p>In fact, the Mortgage Choice 2013 First Time Property Investors Survey found that being in the right suburb and street was the most important consideration for first time property investors.</p> <p>The type of neighbourhood will determine which types of tenants are likely to rent your property.</p> <p>Is it a quiet suburb made up mostly of the elderly? Or a noisy university town?</p> <p>This will also determine vacancy rates, according to Investopedia.</p> <p><strong>Proximity to amenities</strong></p> <p>You never know exactly what each individual tenant will want, so make sure the property is close to a range of amenities and facilities.</p> <p>Tenants with children will obviously want to be located near schools, while entertainment and leisure facilities such as gyms and cinemas are likely to be popular with most.</p> <p>Even new investors are well aware of this - the Mortgage Choice survey revealed that 55 per cent of first time investors wanted their property to be close to amenities and entertainment.</p> <p><strong>Forecasted growth</strong></p> <p>Your property is by definition an investment, so you will want to make sure it brings the maximum returns.</p> <p>It therefore pays to do some research on the area and its trends to make sure your property will increase in value over the years, taking into account factors such as tenant demand.</p> <p>In fact, the tenant demand and population growth of a property&#39;s area were found to be two of the most important factors for respondents of Mortgage Choice&#39;s survey.</p> http://www.reisa.com.au/news/what-should-you-look-for-in-an-investment-property http://www.reisa.com.au/news/what-should-you-look-for-in-an-investment-property 28th Aug 13 Share a drop. Save a life <p>Some would say the Real Estate Industry is not averse to blood. There has been some blood-letting among its members over the years&hellip; the odd blood feud&hellip; and we&rsquo;re all experienced in the sort of blood and thunder commitment needed to survive in tough times.</p> <p>We&rsquo;re constantly exhorted to get blood from a stone when it comes to maximising selling prices and most of us have been bloodied at some time or other in our dealings with difficult vendors or buyers.</p> <p>So here is the chance to put all that blood-stained experience to a greater purpose.</p> <p>We want you all to get your blood up and make this Blood Challenge a proper blood bath of generosity. We need you all to become blood-thirsty, bloodhounds straining at the leash to make the next three months a saga steeped in blood, one that others will recall in years to come as a bloody marvel.</p> <p>It might be a little blood-curdling giving blood if you&rsquo;ve not done it before but the people at Red Cross are bloody beauties when it come to putting you at ease before they let the blood flow.</p> <p>Let&rsquo;s all swear a blood oath to get behind this Blood Challenge because, despite our differences, we&rsquo;re all part of this wonderful industry and blood is certainly thicker than water.</p> <p>So band together blood-brothers and sisters so that we can all say come October &ldquo;Bloody ripper, we reached our bloody target.&rdquo;</p> <p>Make it count. Register your team now <a href="http://www.donateblood.com.au/who-can-give/club-red" target="_blank">http://www.donateblood.com.au/who-can-give/club-red</a></p> <p>&nbsp;</p> http://www.reisa.com.au/news/share-a-drop-save-a-life http://www.reisa.com.au/news/share-a-drop-save-a-life 26th Aug 13 Are you on board with the new legislation? <p>The last scheduled legislative training session on sales is taking place on 9 September.&nbsp; It&rsquo;s almost sold out so you better get in quick.</p> <p>REISA is now offering tailor-made sessions for your group and office so as to provide a more open session where you can discuss your own experiences and concerns.</p> <p>REISA is able to commence these sales sessions immediately.</p> <p>These sessions are completely free to any marketing or franchise group where ALL attendees are current financial members and their memberships will be ongoing for 6 months or more.</p> <p>Free sessions are not available to non members.&nbsp; Non members will be billed $132 each for the session.</p> <p>Sessions will run for two and a half hours and will only be conducted if 7 or more people are present.</p> <p>REISA can visit you at your office, a nominated training venue of your choice or you can come along and make use of REISA&rsquo;s training facilities.</p> <p>This is just another way REISA can assist you in delivering value to your own office, franchise or marketing members.</p> <p>To arrange a session for your group, please call the Training Coordinator, Marie Whyte on 8366 4348 or email at <a href="mailto:marie.whyte@reisa.com.au.?subject=Legislative%20training%20session">marie.whyte@reisa.com.au.</a></p> <p>Make sure you are ready when the new laws commence.</p> <p>&nbsp;</p> http://www.reisa.com.au/news/are-you-on-board-with-the-new-legislation http://www.reisa.com.au/news/are-you-on-board-with-the-new-legislation 23rd Aug 13 First home buyers remain cautious despite low interest rates, says RAM <p>First home buyers are delaying entering the property market despite favourable interest rates, according to insurance company RAMS.</p> <p>RAMS recently released the 2013 edition of their First Home Buyers&#39; Pulse Check study, which measures the attitudes and behaviours of Australians toward buying their first home.</p> <p>The findings highlighted a series of key trends in today&#39;s property market, the most important of which was that Australians are continuing to delay the purchase of their first home.</p> <p>Only 12.8 per cent of the 600 people surveyed - who are intending to buy their first home within the space of the next year - said they would make the purchase immediately within the next three months.</p> <p>A further 14.4 per cent said they would buy within six months, with the rest intending to do so within the next 12 months.</p> <p>In spite of this however, the majority of those surveyed (75 per cent) thought that this was a good time to buy a first home, citing favourable interest rates and a stable economy.</p> <p>So why aren&rsquo;t they jumping into the property market? Affordability was the most common reason given for not entering the market, with 51.7 per cent of respondents saying this was a barrier.</p> <p>The study also profiled the average Australian first home buyer - there was an even split among males and females, with the majority in the 36 and older age group.</p> <p>Three out of four intended to buy an established home, with the rest either aiming for a brand new home or building it themselves.</p> <p>RAMS Chief Executive Melos Sulicich had some <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> to offer to potential home buyers, saying that they should not be anxious about the whole process.</p> <p>&quot;It&#39;s not surprising that many first home buyers remain cautious about taking the first step,&quot; Mr Sulicich said in an August 23 media release.</p> <p>&quot;RAMS customers tell us that once they enter the market, they wished they had made the decision to buy sooner as the experience was easier than they imagined with the help of a local home loan expert to guide them along the process.&quot;</p> http://www.reisa.com.au/news/first-home-buyers-remain-cautious-despite-low-interest-rates-says-rams http://www.reisa.com.au/news/first-home-buyers-remain-cautious-despite-low-interest-rates-says-rams 22nd Aug 13 Kick-start your real estate career with REISA <p>With historically low interest rates and increasing homebuyer confidence, it seems that there has never been a better time to make a living as a real estate agent in Australia.</p> <p>Despite increasing house prices, more and more people are finding the courage to purchase their own home.</p> <p>An equally growing number of people are also joining the real estate sector to start a career that will take advantage of this property boom.</p> <p>The Australian government has the figures to back this up - their Job Outlook website predicts that the number of job openings for real estate agents will remain high over the next five years, and employment in these roles will grow strongly in the same period.</p> <p>There&#39;s no doubt that it&#39;s a big sector - more than 77,000 people are already employed as real estate agents in the country, and this number is only set to grow.</p> <p>You might already be itching to undertake some <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a> and get your career under way, but where do you start?</p> <p>REISA provides a range of quality <a class="dnautolink" href="http://www.reisa.com.au/training/training">real estate courses</a> and <a class="dnautolink" href="http://www.reisa.com.au/training/property-management-2">property management courses</a> to get you up and running, no matter what specialisation you are after.</p> <p>Here are just a few we offer:</p> <p><strong>Certificate IV in Property Services (Real Estate)</strong></p> <p>This course is for those who want to make a career in real estate sales.</p> <p>With flexible full time (six weeks) or part time (10 months) options, you&#39;ll be well on your way to achieving this crucial qualification and selling real estate in SA.</p> <p><strong>Certificate in Residential Property Management</strong></p> <p>This full-time, intensive five-day course is for those who want to start a career as a property manager.</p> <p><strong>Diploma of Property Services (Agency Management)</strong></p> <p>If you&#39;re the entrepreneurial type and want to have a go at running your own agency, this course is for you.</p> http://www.reisa.com.au/news/kick-start-your-real-estate-career-with-reisa http://www.reisa.com.au/news/kick-start-your-real-estate-career-with-reisa 21st Aug 13 A path from social housing to private rental <p>The Real Estate Institute of Australia (REIA) says that small investors are an untapped resource when it comes to Australians in social housing making the transition to the private rental market.<br /> <br /> <span style="line-height: 1.5em; font-size: 1em">REIA President, Mr Peter Bushby says, &ldquo;Social housing is financially unsustainable for government with demand exceeding supply by as much as 30%.&rdquo;</span></p> <p>&ldquo;Except in Western Australia, there is no assistance to social housing tenants with good tenancy records and stable incomes to make the transition to the private rental market and whilst the National Rental Affordability Scheme (NRAS) utilises private sector funding, by its nature it excludes small scale investors.&rdquo;</p> <p>&ldquo;As part of REIA&rsquo;s Election Policies 2013, we&rsquo;ve proposed that investors could buy a new or existing property for rental purposes which would be subject to broad guidelines provided by the appropriate state government agency/department regarding location, size, number of bedrooms and value.&rdquo;</p> <p>&ldquo;The owner would go to the agency with details of the property and a rental market valuation for endorsement for transitional housing. A tenant would be selected from the department&rsquo;s list of eligible clients and a real estate agent would manage the property,&rdquo; added Mr Bushby.</p> <p>&ldquo;Governments would need to guarantee the rental payment for the term of the arrangement and depending on the extent of the rental subsidy, may need to consider other assistance to the owner to achieve the equivalent net yield if the property was rented in the private market.&rdquo;</p> <p>&ldquo;The managing agent and owner would attend to routine maintenance matters as occurs in the private rental market alleviating the need for government involvement.&rdquo;</p> <p>&ldquo;Social housing tenants, just like private housing tenants, would be required to meet responsibilities of caring for the property and leaving it in good condition at the end of a tenancy.&rdquo;</p> <p>&ldquo;Social housing is provided by governments to low income households and those people who are unable to find appropriate accommodation in the private rental market. Governments can&rsquo;t keep up with demand, so surely this is a win-win concept,&rdquo; concluded Mr Bushby.</p> <p>For REIA&rsquo;s Election Policies, <a href="http://reia.com.au/userfiles/MEDIARELEASE_1372030438.pdf">click here.</a></p> http://www.reisa.com.au/news/a-path-from-social-housing-to-private-rental http://www.reisa.com.au/news/a-path-from-social-housing-to-private-rental 20th Aug 13 Your moving house checklist <p>Moving house can be one of the most complicated and hectic activities you undertake in your lifetime.</p> <p>Unfortunately, you can&#39;t just dump your old home and stroll into the nearest available one like certain crustaceans.</p> <p>Moving house for humans involves a lot more coordination and planning, but it shouldn&rsquo;t be too difficult with the help of these <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate tips</a>.</p> <p>Keep this checklist in mind if you are moving soon so you don&#39;t forget a thing!</p> <p><strong>Clear out the junk</strong></p> <p>Moving house is the perfect opportunity to do a stocktake of every item in your house and arrange for any unnecessary objects to be disposed of.</p> <p>A garage sale is a fun way to go about doing this - and you can make some serious money on the side!</p> <p><strong>Let people know</strong></p> <p>You&#39;ll want to tell everyone about the pretty new house you&#39;re moving into - and this shouldn&rsquo;t be limited to your friends and family.</p> <p>Tell utility companies, the local council, your kids&#39; school and everyone else you feel necessary about the change in address.</p> <p>Doing this as early as possible will give everyone a chance to update their records, and ensure your mail will be sent to the right place.</p> <p><strong>Gather all your documents</strong></p> <p>In the chaos that moving house causes, it can be easy to lose track of important documents and files.</p> <p>Plan in advance and secure important items such as birth certificates, passports, bank statements and important bills in one place, so you can have easy access to them during and after the moving process.</p> <p><strong>Book a moving company</strong></p> <p>Take the time to research different moving companies to find one that will fit your schedule, needs and budget.</p> <p>It&#39;s crucial that they can do the job properly on the big day, so perhaps ask for some referrals from friends who have moved recently.</p> http://www.reisa.com.au/news/your-moving-house-checklist http://www.reisa.com.au/news/your-moving-house-checklist 20th Aug 13 REISA makes submission on NOLS decision making RIS <p><a href="/documents/item/505" target="_blank">Click here </a>to see REIS&Auml;&#39;s submission on the NOLS Decision Making Regulation Impact Statement</p> http://www.reisa.com.au/news/reisa-makes-submission-on-nols-decision-making-ris http://www.reisa.com.au/news/reisa-makes-submission-on-nols-decision-making-ris 20th Aug 13 Are you affected by amendments to the Community Titles Legislation? <p>Changes to community titles legislation will commence on 28 October 2013.</p> <p>However, you must be aware that some of these changes will impact on land agents as well as body corporate managers.</p> <p>In particular, a person will be prohibited from selling a community titled lot &lsquo;off-the-plan&rsquo; before the plan of community division is deposited unless the contract of sale provides that the deposit is to be held on trust by a specified legal practitioner, conveyancer or land agent.</p> <p>If no plan has been deposited within the agreed time (up to a maximum of two years), the buyer can rescind the contract and recover the deposit.&nbsp; If an agreed period is not specified, a default period of 6 months applies.</p> <p>Make sure that you are aware of these requirements if you are planning on selling such a property.</p> http://www.reisa.com.au/news/are-you-affected-by-amendments-to-the-community-titles-legislation http://www.reisa.com.au/news/are-you-affected-by-amendments-to-the-community-titles-legislation 16th Aug 13 Why is it important to continue to develop your real estate career? <p>If you&#39;re lucky enough to have a secure job in this tough economic climate, you may well feel the inclination to rest on your laurels.</p> <p>However, no matter what stage of your <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a> you are currently at, it is crucial to continuously upskill and take part in professional development.</p> <p>They say that education is a lifelong journey - you simply don&#39;t just stop learning the moment you finish university, toss your cap into the air and graduate.</p> <p>Here we outline the main reasons why it is crucial to continue your <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a> and professional development:</p> <p><strong>Stay ahead of the pack</strong></p> <p>As professional training programmes and short courses become more and more accessible, it seems that most professionals these days are upskilling.</p> <p>You might already have a job, but that is no reason to be content with where you are. By keeping ahead of your colleagues with newly acquired skills and training, you can establish yourself as a leader in your field.</p> <p>REISA offers numerous real estate and <a class="dnautolink" href="http://www.reisa.com.au/training/property-management-2">property management courses</a>, so there&#39;s no excuse not to sign up for one today!</p> <p><strong>Changing work environment</strong></p> <p>With new technologies, trends and practices, jobs are evolving all the time.</p> <p>Professional development provides the opportunity to learn new skills you thought you&#39;d never need, to help you stay current and relevant in your profession.</p> <p><strong>Gain credibility</strong></p> <p>A professional development course, such as a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate agent training</a> programme from REISA, is a handy way to pick up some certificates and qualifications that look great on your CV.</p> <p>It will certainly add to your status as a professional that can be trusted - for example, REISA&#39;s members are required to follow their strict code of conduct, which will enhance their credibility with customers and fellow agents alike.</p> http://www.reisa.com.au/news/why-is-it-important-to-continue-to-develop-your-real-estate-career http://www.reisa.com.au/news/why-is-it-important-to-continue-to-develop-your-real-estate-career 16th Aug 13 Access to finance not going to go away <p>The Real Estate Institute of Australia (REIA) says difficulty accessing finance by small businesses has been questioned continuously, yet there is still little recourse or genuine feedback for those affected.</p> <p>REIA President Peter Bushby says,&rdquo; This is not an issue that is going to go away.&rdquo;</p> <p>&ldquo;According to the Australian Bureau of Statistics&rsquo; (ABS) publication examining barriers to innovation faced by Australian business in 2010-11, of businesses employing up to 4 people, 20.5% were lacking access to additional funds. Of businesses employing 5 to 19 persons, 22.8% reported a lack of access to additional funds as a barrier to innovation.&rdquo;</p> <p>&ldquo;Bank credit helps these businesses to facilitate their ongoing development without placing excessive strain on cash reserves or working capital. However, as they are often perceived to carry a higher degree of financial risk, small businesses can face higher costs when accessing credit from financial institutions.&rdquo;</p> <p>&ldquo;Residential property is used as security for lending to small businesses, which makes it particularly difficult for entrepreneurial Generation Y as only two out of five younger Australians own their own home.&rdquo;</p> <p>&ldquo;When it comes to real estate businesses (96% of which are small), lenders should be taking into account all assets at market value, such as rent rolls which provide strong cash flow stability.&rdquo;</p> <p>&ldquo;At the same time, house buyers with unchanged financial circumstances post GFC are faced with much higher equity requirements.&rdquo;</p> <p>&ldquo;REIA wants to see both major parties commit to the extension of the Financial Ombudsman Service to include regular meetings with stakeholder groups and the Australian Bankers&rsquo; Association (ABA) to review banking practices.&rdquo;</p> <p>&ldquo;We also call for an Australian Small Business Credit Resolution Service, which would mediate between financial institutions and small business when credit applications are refused and ensure that all applications by small businesses are adequately and properly assessed.&rdquo;</p> <p><span style="line-height: 1.5em; font-size: 1em">AUSBCRES would be created as a division of the Small Business Commissioner / Small Business Ombudsman. For the Small Business Credit Resolutions Service discussion paper </span><a href="http://reia.com.au/userfiles/MEDIARELEASE_1375227962.pdf" style="line-height: 1.5em; font-size: 1em">click here</a><span style="line-height: 1.5em; font-size: 1em">.</span></p> http://www.reisa.com.au/news/access-to-finance-not-going-to-go-away http://www.reisa.com.au/news/access-to-finance-not-going-to-go-away 16th Aug 13 Is NOLA jumping the gun? <p>The Real Estate Institute of Australia (REIA) says the National Occupational Licensing Authority&rsquo;s (NOLA) proposed appointment of a Chief Executive Officer (CEO) to its ranks during the election campaign is very surprising and alarming.</p> <p><br /> REIA President Peter Bushby says, &rdquo;While acknowledging that NOLA is a statutory authority, the timing of this appointment beggars belief with the Government in caretaker mode and the future of NOLA uncertain.&rdquo;</p> <p><br /> &ldquo;With the first tranche occupations committing to ensuring that national licensing is implemented in a well thought out and intelligent way, NOLA makes the very odd choice with its advertisement for a CEO just before a decision is made on whether national licensing is to go ahead &ndash; something to be decided by state Treasurers in November.&rdquo;</p> <p><br /> &ldquo;To call for nominations for a permanent position before a decision is made on national licensing and to do this during the federal election smacks of a push for a pre-conceived outcome.&rdquo;</p> <p>&ldquo;The closing date for applicants is 6 September - the day before the federal election. Another cynical NOLA move if I ever saw one.&rdquo;</p> <p>&ldquo;REIA has been disappointed with NOLA&rsquo;s handling of the national licensing process from the beginning.&rdquo;</p> <p>&ldquo;Various information sessions conducted around Australia have shown NOLA representatives to be aggressive advocates for the COAG recommendations and the attitude to any industry or small business feedback indicated that a foregone conclusion had already been reached as to how the real estate profession would be licensed in Australia.&rdquo;</p> <p>The Steering Committee released its Decision Regulation Impact Statement (DRIS) on national licensing for the property professions last month.<br /> &nbsp;</p> <p>&ldquo;REIA will submit a formal response to the DRIS and most states and territories will provide their own consultation sessions with stakeholders in coming weeks.&rdquo;</p> <p>&ldquo;It&rsquo;s time NOLA listened to the views of small business on the need for adequate standards and training,&rdquo; concluded Mr Bushby.</p> http://www.reisa.com.au/news/is-nola-jumping-the-gun http://www.reisa.com.au/news/is-nola-jumping-the-gun 15th Aug 13 Real estate tips for home inspections <p>When you&#39;re about to buy something of considerable value, it&#39;s important to take a good long look at it beforehand to make sure you don&#39;t end up with a very expensive problem on your hands.</p> <p>For something like a car, the process is relatively straightforward - you kick a few tyres, take it for a test drive and get a mechanic to check out the nuts and bolts.</p> <p>However, when the item you&#39;re buying is a half-a-million-dollar house, it pays to do thorough assessment of the building, both inside and out, before you sign anything.</p> <p>Of course, it is crucial to take simple <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> and get a professional to compile an inspection report before you buy any house, but here are some warning signs you can look out for yourself to identify major problems:</p> <p><strong>Roof</strong></p> <p>If you see cracks, loose tiles, flaky paint or rusted guttering, these should immediately bring up red flags.</p> <p>Also check the ceilings when you&#39;re inside the house - do they appear to be sagging?</p> <p>These signs could indicate that the roof may need replacing soon, which is not a cost you want to be burdened with just as you move in.</p> <p><strong>Walls</strong></p> <p>Have a look at the walls from both the inside and the outside. Do you see any cracks or peeling paint?</p> <p>The type of wall the house has, for example weatherboard or plaster, can affect its durability, so ask your real estate agent if you&#39;re not sure.</p> <p><strong>Bathrooms</strong></p> <p>Bathrooms can be one of the most problematic areas in a house, due to the plumbing and varying temperatures involved.</p> <p>Try out every tap and flush the toilet to check that there are no issues.</p> <p>Also have a look for mould and mildew, which can be a sign of poor ventilation.</p> <p><strong>Electrical</strong></p> <p>Inspect the main electrical components of the house, including the main panel and meter, to make sure that everything is in order - are there any loose wires or switches?</p> http://www.reisa.com.au/news/real-estate-tips-for-home-inspections http://www.reisa.com.au/news/real-estate-tips-for-home-inspections 14th Aug 13 Now is the time to buy a home in SA <p>If you&#39;ve always wanted to purchase your own home in South Australia, now is a good time to do so.</p> <p>In light of the recent cut to the official cash rate, which brought it to a new all-time low, housing affordability levels across Australia remain positive.</p> <p>According to the Commonwealth Bank&#39;s Melanie Timbrell, low interest rates coupled with rising incomes make for an opportune time to buy a home, despite rising house prices.</p> <p>In an August 12 post on the bank&#39;s MyWealth blog, Ms Timbrell also offered some <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> to South Australian residents, saying the state was enjoying a period of peak housing affordability.</p> <p>Every state in the country, except Western Australia and Tasmania, enjoyed improved affordability in the first quarter of the year, according to Ms Timbrell.</p> <p>She supported her claim by also noting that South Australia was the only state that saw an increase in the number of first homebuyers in the March quarter.</p> <p>Those encouraged by the news who wish to make the first step in buying a property will want to take some <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate tips</a> from Housing SA and have a look at the Affordable Homes initiative.</p> <p>Run by the SA government, Affordable Homes aims to provide eligible low to middle income families a head start in the competitive housing market.</p> <p>The program is offering selected properties exclusively to eligible participants for 30 to 90 days, before making them available to the wider market.</p> <p>With favourable economic conditions such as low interest rates and increasing housing affordability, combined with government initiatives to help those looking to secure a first home, there has never been a better time to invest in a property in South Australia.</p> http://www.reisa.com.au/news/now-is-the-time-to-buy-a-home-in-sa http://www.reisa.com.au/news/now-is-the-time-to-buy-a-home-in-sa 14th Aug 13 New Common Ground facility to open in SA <p>Some real estate tips for those at risk of homelessness in SA - a new Common Ground facility is set to offer a roof over their heads and a chance to rebuild their lives.</p> <p>A new apartment complex to be built in the Adelaide CBD will bring welcome relief for those in South Australia who are homeless or at risk of homelessness.</p> <p>In an August 6 news release, Tony Piccolo, minister for social housing, announced that the South Australian government had teamed up with the Adelaide City Council to acquire a site on Mellor Street, which will be the location of a new Common Ground facility.</p> <p>Mr Piccolo offered valuable real estate advice for SA residents who were facing homelessness, saying that the Common Ground facility offered an opportunity to get their lives back on track.</p> <p>He also outlined in the release what Common Ground was all about.</p> <p>&quot;Common Ground is an innovative approach to working with disadvantaged people who need support and it&#39;s an approach that has made a real, positive difference in the lives of many South Australians,&quot; he said.</p> <p>&quot;This new facility will have a strong focus on families - single parents or small families with one or two children who are either on low incomes or at risk of homelessness.&quot;</p> <p>He stressed that the initiative was open to all those families in South Australia that need the support, including the region&#39;s &quot;hidden homeless&quot; - those constantly moving from place to place, without a permanent residence to stay in.</p> <p>According to the release, the proposed facility will have 52 units and numerous amenities, such as a common area and a kitchen.</p> <p>Residents will also have access to nearby health facilities, Mr Piccolo confirmed.</p> <p>&quot;It&#39;s just metres away from the Light Square facility, meaning tenants in Mellor Street will be able to take advantage of the medical and dental services available there.&quot;</p> <p>Construction is set to begin in early 2014 and tenants should be able to move in by the end of next year.</p> <p>&nbsp;</p> http://www.reisa.com.au/news/new-common-ground-facility-to-open-in-sa http://www.reisa.com.au/news/new-common-ground-facility-to-open-in-sa 14th Aug 13 Housing affordability still strong in SA <p>With low interest rates and housing affordability in South Australia remaining high, now is a great time to purchase your first property.</p> <p>If you&#39;ve always wanted to purchase your own home in South Australia, now is a good time to do so.</p> <p>In light of the recent cut to the official cash rate, which brought it to a new all-time low, housing affordability levels across Australia remain positive.</p> <p>According to the Commonwealth Bank&#39;s Melanie Timbrell, low interest rates coupled with rising incomes make for an opportune time to buy a home, despite rising house prices.</p> <p>In an August 12 post on the bank&#39;s MyWealth blog, Ms Timbrell also offered some real estate advice to South Australian residents, saying the state was enjoying a period of peak housing affordability.</p> <p>Every state in the country, except Western Australia and Tasmania, enjoyed improved affordability in the first quarter of the year, according to Ms Timbrell.</p> <p>She supported her claim by also noting that South Australia was the only state that saw an increase in the number of first homebuyers in the March quarter.</p> <p>Those encouraged by the news who wish to make the first step in buying a property will want to take some real estate tips from Housing SA and have a look at the Affordable Homes initiative.</p> <p>Run by the SA government, Affordable Homes aims to provide eligible low to middle income families a head start in the competitive housing market.</p> <p>The program is offering selected properties exclusively to eligible participants for 30 to 90 days, before making them available to the wider market.</p> <p>With favourable economic conditions such as low interest rates and increasing housing affordability, combined with government initiatives to help those looking to secure a first home, there has never been a better time to invest in a property in South Australia.</p> <p><br /> &nbsp;</p> http://www.reisa.com.au/news/housing-affordability-still-strong-in-sa http://www.reisa.com.au/news/housing-affordability-still-strong-in-sa 14th Aug 13 REISA hits the airwaves <p>Today, Greg Troughton appeared on the Leon Byner Show on 5AA to discuss the consequences of the impending national licensing changes for real estate agents and sales representatives on the South Australian consumer.</p> <p>Again, Greg expressed his dismay at the recent &ndash; and probably final &ndash; consultation paper - of the Federal bureaucrats that advocates the slashing of qualification standards for entry into the real estate industry here in South Australia.</p> <p>This is not only a real estate issue &ndash; it is an issue that goes to the heart of consumer protection and ensuring that consumers are represented efficiently and knowledgeably.&nbsp; Given the fact that a real estate transaction represents the largest financial investment one probably makes in their lifetime, it is absolutely imperative that those representing your interests are as trained, educated and informed as possible.</p> <p>The Minister also appeared on the show and we are delighted that he once again, expressed his support for Greg&rsquo;s concerns and his willingness to work towards finding a solution that protected South Australia&rsquo;s unique position in the national real estate market.&nbsp; The Minister again stated publicly that he would continue to defend the current South Australian standard.</p> <p>In particular, it was heartening to hear the Minister say that while he does not oppose uniformity per se, it can get absurd when you have a lowest common denominator which everyone is then compelled to follow.&nbsp; This is precisely the scenario we are now facing.</p> <p>REISA is delighted that the Minister continues to be its staunchest ally in the proposed national licensing regime and it looks forward to further involvement with the State Government on the way forward.</p> http://www.reisa.com.au/news/reisa-hits-the-airwaves http://www.reisa.com.au/news/reisa-hits-the-airwaves 13th Aug 13 SA's public housing residents welcome amnesty <p>Housing SA&#39;s month-long amnesty for public housing residents has enjoyed a strong start, according to minister for social housing Tony Piccolo.</p> <p>The amnesty, which began on August 1 and runs until the end of the month, allows residents of public housing to provide details of any undeclared income or household members without facing a penalty.</p> <p>Residents have come forward with a strong response, said Mr Piccolo in an August 9 media release.</p> <p>As of last Friday (August 9), over 300 public housing tenants came forward to Housing SA and updated their details.</p> <p>In addition, members of the general public have made more than 70 reports about tenants they believed had undeclared income or household members.</p> <p>Mr Piccolo urged all public housing tenants to heed his <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> and contact Housing SA if they felt they needed to.</p> <p>&quot;It&#39;s great to see so many people making the most of this opportunity, and I would encourage either public housing tenants or members of the community who wish to make a report to get in touch with Housing SA,&quot; he said.</p> <p>&quot;The amnesty gives tenants a window of opportunity to declare extra household members or income with no risk of penalty and no requirement to pay back rent.&quot;</p> <p>Mr Piccolo stated that he was pleased with the &quot;encouraging start to this campaign&quot;, and outlined the real purpose of the amnesty - to provide a fairer public housing system for all tenants involved.</p> <p>&quot;Housing SA relies on rental income to carry out maintenance on existing public housing properties, as well to build new homes to support some of our state&#39;s most disadvantaged citizens,&quot; he explained.</p> <p>He concluded by saying that this could only be achieved if everyone was paying the correct amount of rent.</p> http://www.reisa.com.au/news/sas-public-housing-residents-welcome-amnesty http://www.reisa.com.au/news/sas-public-housing-residents-welcome-amnesty 12th Aug 13 Mellor Street site brings hope for SA's homeless <p>A new apartment complex to be built in the Adelaide CBD will bring welcome relief for those in South Australia who are homeless or at risk of homelessness.</p> <p>In an August 6 news release, Tony Piccolo, minister for social housing, announced that the South Australian government had teamed up with the Adelaide City Council to acquire a site on Mellor Street, which will be the location of a new Common Ground facility.</p> <p>Mr Piccolo offered valuable <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a> for SA residents who were facing homelessness, saying that the Common Ground facility offered an opportunity to get their lives back on track.</p> <p>He also outlined in the release what Common Ground was all about.</p> <p>&quot;Common Ground is an innovative approach to working with disadvantaged people who need support, and it&#39;s an approach that has made a real, positive difference in the lives of many South Australians,&quot; he said.</p> <p>&quot;This new facility will have a strong focus on families - single parents or small families with one or two children who are either on low incomes or at risk of homelessness.&quot;</p> <p>He stressed that the initiative was open to all those families in South Australia that need the support, including the region&#39;s &quot;hidden homeless&quot; - those constantly moving from place to place, without a permanent residence to stay in.</p> <p>According to the release, the proposed facility will have 52 units and numerous amenities, such as a common area and a kitchen.</p> <p>Residents will also have access to nearby health facilities, Mr Piccolo confirmed.</p> <p>&quot;It&#39;s just metres away from the Light Square facility, meaning tenants in Mellor Street will be able to take advantage of the medical and dental services available there.&quot;</p> <p>Construction is set to begin in early 2014, and tenants should be able to move in by the end of next year.</p> http://www.reisa.com.au/news/mellor-street-site-brings-hope-for-sas-homeless http://www.reisa.com.au/news/mellor-street-site-brings-hope-for-sas-homeless 9th Aug 13 3 things you should ask your real estate agent <p>Selling a home involves a lot of work, which is why you need a good real estate agent to help you out.</p> <p>Before appointing one to manage the sale, however, there are several key things you should ask them to make sure they can do the job for you.</p> <p>By following these <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate tips</a> and asking the right questions, you can make a quick assessment of the agent and whether they will meet your needs.</p> <p>Here are three things you should find out before selecting an agent:</p> <p><strong>1. Will they help with relocation?</strong></p> <p>A good real estate agent won&#39;t just sell your house; they will also facilitate your move into your new property, according the Keeping Current Matters blog.</p> <p>Moving house requires excellent timing and coordination, and you&#39;ll likely want to move into your new property as soon as your current home is sold.</p> <p>Your agent should be willing to help you out with all your real estate needs, to prevent issues such as having nowhere to stay once your house is sold, or having to simultaneously manage the expenses for two properties.</p> <p><strong>2. Will they provide references?</strong></p> <p>You wouldn&#39;t hire a job candidate without checking reliable, external sources. The same applies to your real estate agent.</p> <p>Caitlin Uttley from TLC recommends that you get in touch with their referees and previous clients, to get an idea not only of their professional skills, but also what they are like as a person and what it is like to work with them on a regular basis - for example, are they easy to get in touch with at important times?</p> <p><strong>3. What is their marketing plan?</strong></p> <p>Your agent will need to make your home as appealing as possible to potential buyers, and advertise it in the right channels to the right audience.</p> <p>About.com states that you should ask your agent about their style, such as where and how often they advertise, and how they will make use of online marketing methods.</p> <p>Choose a REISA&nbsp;approved real estate agent and get peace of mind from knowing that you are dealing with a qualified professional who follows a strict code of conduct and values higher standards.</p> http://www.reisa.com.au/news/3-things-you-should-ask-your-real-estate-agent http://www.reisa.com.au/news/3-things-you-should-ask-your-real-estate-agent 8th Aug 13 Australians Deserve A National Housing Policy <p>The Real Estate Institute of Australia (REIA) says the major parties need to reveal their housing policies as part of the Federal election campaign and show how they are going to address affordability and supply challenges.</p> <p>REIA President, Peter Bushby says the great Australian dream of owning your own home is now out of reach for many.</p> <p>&quot;Home ownership is declining after three decades of stable levels and first home buyers are finding it increasingly difficult to enter the market, despite the interest rate cuts.&quot;</p> <p>&quot;Housing is a complex issue with a number of economic, social and infrastructure factors determining affordability and we want to see the major parties commit to taking a leadership role in developing a coordinated and strategic approach to housing, including complementary policies covering first home buyers and taxation reform.&quot;</p> <p>&quot;COAG, which is moving away from competitive federalism, is long overdue for an overhaul, as witnessed by the national licensing proposal which has become a race to the bottom on standards.&quot;</p> <p>A recent Auspoll found housing to be the number one issue amongst voters and the recent Genworth Homebuyer Confidence Index found that 70% of non-property owners think that the Australian dream of homeownership is unrealistic.</p> <p>&quot;REIA would like to see a review process be established that requires regular reporting against a number of key indicators and highlights any emerging issues for policy and decision makers across all tiers of government and industry.&quot;</p> <p>&quot;The availability of affordable housing is a goal that is shared by governments and all sectors of the community, yet at the national level there is not a comprehensive policy or plan for its achievement.&quot;</p> <p>&quot;This impacts on the functioning of the economy as well as the wellbeing of individuals and the cohesiveness of communities and society. REIA is ready and able to participate in a national dialogue on the crucial issues,&quot; concluded Mr Bushby</p> http://www.reisa.com.au/news/australians-deserve-a-national-housing-policy http://www.reisa.com.au/news/australians-deserve-a-national-housing-policy 7th Aug 13 How to live with a flatmate <p>If you are living in a rental property, there is a good chance you share it with one or more flatmates.</p> <p>Some will feel like a match made in heaven - they do their dishes, keep the living room tidy and are fast asleep by ten o&#39;clock.</p> <p>Meanwhile, others may make you want to go crawling back to your parents&#39; place, vowing to never leave that safe haven again.</p> <p>Here are some <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate tips</a> you can keep in mind no matter who you flat with, to ensure a happy living environment for all involved.</p> <p><strong>Talk, talk, talk</strong></p> <p>When you&#39;re living with someone else, no matter how close or distant you are, open and honest communication is an absolute requirement.</p> <p>If you have a particular issue with a flatmate - whether it&#39;s because their showers take too long or they&#39;re not doing their fair share of the housework - take the time to discuss it with them.</p> <p>Likewise, encourage them to bring forth any issues they may have with you.</p> <p>Whatever you do, don&#39;t bottle it up and try to resolve everything yourself!</p> <p><strong>Respect each other&#39;s preferences</strong></p> <p>Even if it&rsquo;s your best friend, you&#39;ll never find a flatmate who is exactly the same as you.</p> <p>Different people have different perceptions of what is acceptable. This includes things such as noise levels, how many friends you can invite over at a time, and even what you can cook at home.</p> <p>When starting out with a new flatmate, make sure you both agree on some house rules, to reduce the risk of conflict later on.</p> <p><strong>Keep on top of your finances</strong></p> <p>Money can be a tricky issue to bring up, even when you have a good relationship with your flatmate.</p> <p>Make sure that allocations for costs such as rent, utilities and household items are evenly spread, and devise an effective system for managing them. For example, you could agree to have the rent automatically debited from your bank accounts.</p> http://www.reisa.com.au/news/how-to-live-with-a-flatmate http://www.reisa.com.au/news/how-to-live-with-a-flatmate 7th Aug 13 First Home Buyers Need More Than Interest Rate Cuts <p>The Real Estate Institute of Australia (REIA) says the latest housing finance figures released by the Australian Bureau of Statistics (ABS) show that whilst total lending for housing is growing in response to interest rate cuts and the positive housing outlook, first home buyers are not responding.</p> <p>Housing finance figures for June 2013 show, in trend terms, that the number of owner-occupied finance commitments rose by 1.9 per cent &ndash; following increases of 2.3 per cent in April and 2.2 per cent in May.</p> <p>If refinancing is excluded, the increase, in trend terms for June, is 1.8 per cent.</p> <p>REIA President, Peter Bushby says, &quot;Increases were recorded in all states with the largest increases in Queensland and South Australia, up 2.3 per cent and 2.1 per cent respectively, in trend terms.&quot;</p> <p>&quot;There are increases in the purchase of established dwellings (up 2.1 per cent in trend terms), the purchase of new dwellings (up 1.8 per cent in trend terms) and the number of commitments for the construction of new dwellings (up 0.9 per cent in trend terms),&quot; Mr Bushby continued.</p> <p>&quot;The proportion of first home buyers in the number of owner-occupied housing finance commitments rose slightly to 15.1 per cent compared to the May figure of 14.6 per cent. The figure remains persistently low compared to the long-run average proportion of 20.1 per cent despite seven interest rate cuts since November 2011.&quot;</p> <p>&quot;In large part, this drop can be attributed to State Governments, except Western Australia, withdrawing previous levels of support for first home owners buying established dwellings and it&rsquo;s established dwellings that 80 per cent of first home buyers prefer.&quot;</p> <p>The value of investment housing commitments rose by 0.9 per cent, in trend terms, in May resulting in the twelfth consecutive monthly increase.</p> <p>&quot;With the proportion of first home buyers remaining consistently below the long term average, this needs to be a high priority issue for both major parties as we approach the federal election,&quot; concluded Mr Bushby.</p> http://www.reisa.com.au/news/first-home-buyers-need-more-than-interest-rate-cuts http://www.reisa.com.au/news/first-home-buyers-need-more-than-interest-rate-cuts 7th Aug 13 Renting to Family Members <p>Some landlords like to lease their properties to family members or close friends who they know and trust. For them, it can seem like a win-win situation. Their property is tenanted and they&rsquo;re helping out a loved one.</p> <p>If you have any properties in your portfolio where the landlord and tenants know each other well, there are a few points you may need to consider in order to manage it effectively.</p> <p>The good news is that your involvement managing the property is an indication that the landlord recognises the importance of ensuring their property is a profitable asset - regardless of who their tenant is.</p> <ul><li>Insist on being the sole point of contact</li> </ul> <p>When landlords know their tenants, it can be tempting for them to interfere in the management of the property, discuss issues directly with the tenants and advise property managers how to act. This can leave you at risk of missing or failing to adhere to industry protocol.</p> <p>From the very beginning of the tenancy agreement, make sure the landlord and tenant both know that you are to be the sole point of contact for all issues relating to the property or tenancy.</p> <p>This will enable you to deal with issues efficiently and according to correct industry procedures.</p> <ul><li>Issue the correct notices within the specified timeframes</li> </ul> <p>Your landlord may ask you to turn a blind eye if the tenant defaults on their rental payments or promises to pay as soon as they can. However, it is a good idea to advise against this and continue to issue the tenant with the relevant notices within the specified timeframes in your state or territory.</p> <p>If the landlord is later required to make an insurance claim for loss of rent, the claim may be reduced if there was a delay in sending the appropriate notices.</p> <ul><li>Conduct regular property inspections</li> </ul> <p>Property inspections are essential before the tenant moves in and every three to four months while the tenant is occupying the property to ensure it is being kept in good condition and to alert the landlord of any maintenance issues that may need attention.</p> <p>Your landlord may advise you that it&#39;s not necessary to &#39;check up&#39; on the tenant and conduct regular property inspections.</p> <p>However, if a tenant is injured at the property as a result of required maintenance, it could potentially lead to a costly legal liability claim for the landlord.</p> <p>Detailed and up-to-date condition reports may also be requested by tribunals and insurance companies if you have an issue with the tenants relating to property damage - accidental or otherwise.</p> <ul><li>Recommend appropriate landlord insurance</li> </ul> <p>As landlords renting to family members may not consider insurance cover, it&#39;s important to inform them of what options are available.</p> <p>Landlord insurance is designed to help protect investors from many of the risks associated with owning a rental property.</p> <p>Even the most fastidious and trustworthy family member is able to damage a property as a tenant, whether accidental or otherwise.</p> <p>For further information, visit <a href="http://www.terrischeer.com.au">www.terrischeer.com.au</a> or call 1800 804 016.</p> <p>Media contact: Corporate Conversation, 08 8224 3535</p> <p>Editor&rsquo;s note</p> <p><strong>About Terri Scheer Insurance</strong></p> <p>Terri Scheer Insurance Pty Ltd ABN 76 070 874 798 (Terri Scheer) provides insurance cover for landlords, helping to protect them against the risks associated with owning a rental property. These include malicious damage by tenants, accidental damage, landlord&rsquo;s legal liability and loss of rental income. Terri Scheer acts on behalf of AAI Limited ABN 48 005 297 807 AFSL 230859 trading as &lsquo;Vero Insurance&rsquo;, the insurer which issues the insurance cover. Terri Scheer has not taken into account the reader&rsquo;s objectives, financial situation or needs. If you are interested in any of Terri Scheer&rsquo;s insurance products, the relevant Product Disclosure Statement should be considered first. It can be viewed online at www.terrischeer.com.au or obtained by calling 1800 804 016. Based in Adelaide, Terri Scheer services all states, territories and capital cities.</p> <p><strong>Disclaimer</strong></p> <p>The information contained in this article is intended to be of a general nature only. Terri Scheer does not accept any legal responsibility for any loss incurred as a result of reliance upon it.</p> <p>Insurance issued by Vero Insurance. Read the Product Disclosure Statement before buying this insurance and consider whether it is right for you. Contact Terri Scheer on 1800 804 016 or visit our website at <a href="http://www.terrischeer.com.au">www.terrischeer.com.au</a> &nbsp;for a copy</p> http://www.reisa.com.au/news/renting-to-family-members http://www.reisa.com.au/news/renting-to-family-members 6th Aug 13 How to choose the right real estate agent <p>When the time comes to sell your home, it makes sense to hire an agent to manage the sale for you.</p> <p>Selling a house represents a massive financial transaction, one which you want to entrust to the capable hands of an expert. A professional agent who has completed <a class="dnautolink" href="http://www.reisa.com.au/training/training">real estate courses</a> and knows their stuff will ensure you get the best value out of the deal.</p> <p>Not all agents are equal, so it is important to take the time to select one who you feel meets your particular needs and has your best interests in mind.</p> <p>Here are some things you should watch out for when choosing an agent to sell your home:</p> <p><strong>Presentation and communication</strong></p> <p>Successfully selling a house is an exercise in marketing. Your agent is the first port of call for any potential buyers, so first impressions are crucial.</p> <p>Make sure they always look sharp and well-presented - not just on the photo on their namecard - and have good communication skills, so they can resolve any issues a buyer may have.</p> <p><strong>In-depth knowledge</strong></p> <p>Real estate agents must be knowledgeable both about selling homes and the local area, according to the Property Institute.</p> <p>Most agents specialise in one or two neighbourhoods, so they are expected to be experts in these areas.</p> <p>In addition to checking whether they have had the right <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a>, have a look at their sales record - you can find these online for most agents - to see how many homes they have sold in your area. This can be a good indicator of their potential for success.</p> <p><strong>A good working relationship</strong></p> <p>You could be working with your agent for weeks or even months, depending on how soon your property is sold.</p> <p>Therefore it is important you find someone you know you&#39;ll get along with, and who understands your needs as well as those of your property, according to NineMSN Australia.</p> <p>An open working relationship will ensure both parties are satisfied and you can get the best value possible for your home.</p> http://www.reisa.com.au/news/how-to-choose-the-right-real-estate-agent http://www.reisa.com.au/news/how-to-choose-the-right-real-estate-agent 6th Aug 13 Interest Rate Relief For Homeowners <p>The Real Estate Institute of SA (REISA) has welcomed the news that the official cash interest rate was slashed at the Reserve Bank board meeting this afternoon.</p> <p>REISA Chief Executive Officer, Greg Troughton said the cut in interest rates by 25 basis points shows the Reserve Bank has acknowledged the ongoing difficulties faced by struggling homeowners.</p> <p>&ldquo;It&rsquo;s a positive sign that the Reserve Bank has assessed our economic position and responded accordingly.&rdquo;</p> <p>&ldquo;Lenders must now follow the lead of the Reserve Bank to ensure that South Australians benefit from the RBA&rsquo;s decision,&rdquo; Mr Troughton said.</p> <p>&ldquo;Households have been struggling for several years with rising costs to housing, petrol and utilities. The Reserve Bank has now provided some further relief to help alleviate the housing pressures being felt by South Australians.&rdquo;</p> <p>Commenting generally on the market, Mr Troughton said that the market is still sluggish in many areas across the State.</p> <p>&ldquo;It&rsquo;s going to take more than an interest rate cut to get the economy focused and moving in the right direction,&rdquo; he said.</p> <p>&ldquo;Historic cash rate lows announced today show a further sign that monetary stimulus is no longer enough to improve the property market. Property taxes continue to hold back this important sector.&rdquo;</p> http://www.reisa.com.au/news/interest-rate-relief-for-homeowners http://www.reisa.com.au/news/interest-rate-relief-for-homeowners 5th Aug 13 South Australians feeling confident despite rising house prices <p>As house prices continue to increase across the country, homebuyer confidence in South Australia remains high, according to mortgage provider Genworth.</p> <p>In a Thursday (August 1) news release, Genworth announced the results from its independent Homebuyer Confidence Index survey. The survey measures a number of qualitative factors such as homebuyer confidence, comfort with debt and level of mortgage stress across the states, with a focus on first home buyers - the people most likely in need of <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a>.</p> <p>South Australia scored the highest in homebuyer confidence, with an index of 100.8 - an increase of 5.2 per cent from March, according to Genworth.</p> <p>Comparatively, nationwide confidence is ranked as 100.1, up by 7.2 per cent since March.</p> <p>The trend was revealed alongside recent figures that show increases in property value around Australia.</p> <p>RP Data and Rismark International released their dwelling values index on Thursday, August 1, which recorded quarterly rises in property value in each state&#39;s capital city - except Adelaide.</p> <p>Dwelling values in the South Australian capital declined by 3.1 per cent over the last quarter, according to the report.</p> <p>Perth was the capital with the steepest rise, with an increase of 4.4 per cent.</p> <p>Genworth&#39;s chief commercial officer, Bridget Sakr, offered some reasons behind the soaring confidence.</p> <p>&quot;The latest Genworth Homebuyer Confidence Index suggests that homeowners realise that current market conditions - particularly historically low interest rates - make buying property and servicing a mortgage a more attractive proposition than it&#39;s been for a number of years,&quot; she explained.</p> <p>Despite the high level of confidence, she also stated that the majority of potential first home buyers are still struggling to purchase a home.</p> <p>&quot;However, affordability remains a challenge for those yet to enter the market, with 70 per cent of non-property owners believing the dream of homeownership to be unrealistic.&quot;</p> http://www.reisa.com.au/news/south-australians-feeling-confident-despite-rising-house-prices http://www.reisa.com.au/news/south-australians-feeling-confident-despite-rising-house-prices 2nd Aug 13 Careers in real estate and property - which one is for you? <p>There is an increasing number of workers moving into the real estate and property sectors.</p> <p>It&#39;s a logical and sensible career move - some roles don&#39;t require a formal university degree, and with some basic <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate training</a>, a certification and the right motivation, you can get started straight away.</p> <p>Figures from the Australian government&#39;s <a href="http://joboutlook.gov.au/occupation.aspx?code=6121&amp;search=industry&amp;Tab=prospects">Job Outlook</a> initiative are promising. According to their website, jobs in the sector are expected to grow steadily and remain high over the next four years.</p> <p>There are numerous different avenues you can take, though, so it is important to carefully consider what your objectives are, what kind of work you enjoy and what your best skills are.</p> <p>Here are two different <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a> paths you can take:</p> <p><strong>Real estate sales</strong></p> <p>This is the most common choice for those entering the industry. As it is a commission-based role, your earning potential is only limited by your dedication to your work.</p> <p>Whether you work in the residential or commercial sector, a need for strong sales skills is a given - you must have a relentless drive to close the sale, while also genuinely keeping the best interests of both the seller and the buyer in mind.</p> <p>REISA offers <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate agent training</a> to help you get your sales career started.</p> <p><strong>Property management</strong></p> <p>If sales aren&#39;t your thing or you&#39;d rather embrace the challenge of managing the upkeep and tenancy of a building, a property management career may be for you.</p> <p>Excellent communication, negotiation and problem-solving skills are a must, as you will be using these every day to interact with different stakeholders on a variety of issues.</p> <p>A <a class="dnautolink" href="http://www.reisa.com.au/training/property-management-2">property management course</a> offered by REISA can help you take the next step in your career.</p> http://www.reisa.com.au/news/careers-in-real-estate-and-property---which-one-is-for-you http://www.reisa.com.au/news/careers-in-real-estate-and-property---which-one-is-for-you 2nd Aug 13 Mandatory CPD Benefits Agents and Consumers <p>The Real Estate Institute of Australia (REIA) says the National Occupational Licensing Authority (NOLA) has it wrong when it comes to Compulsory Professional Development (CPD) in the real estate profession.</p> <p>The Decision Regulation Impact Statement, currently released for discussion, recommends that CPD should not be mandated.</p> <p>REIA President Peter Bushby says &quot;The benefits of mandatory CPD are real and documented and NOLA claiming the contrary is a continuation of the misinformation being peddled and the aggressive advocacy</p> <p>for national licensing.&quot;</p> <p>&quot;If there are concerns about the quality of CPD delivery, then that should be addressed directly rather than abolishing the need for it. NOLA is confusing service delivery with the value of CPD.&quot;</p> <p>&quot;Western Australia provides a good case study of the impact of mandated CPD. In WA, mandatory CPD was introduced for licensees in 2007 and for sales representatives in 2009,&quot; says Mr Bushby.</p> <p>&quot;For the five years up until and including 2009, the average number of written concerns raised by the public to the Real Estate Institute of Western Australia (REIWA) was 143 per year with a high of 196 in 2009.&quot;</p> <p>&quot;In 2010, the year immediately after mandatory CPD was introduced for sales representatives, the number of written concerns dropped to 58 &ndash; a 70% reduction over the previous year. The average for the three years to 2012 has been 55 &ndash; or a 61% reduction from the five years 2005 to 2009.&quot;</p> <p>&quot;Similarly in the ACT, industry standards have improved since the commencement of CPD, yet these facts are being ignored.&quot;</p> <p>&quot;Let&rsquo;s address any issue with the quality of the provision of training but let&rsquo;s not throw the baby out with the bath water. As statistics show, it&rsquo;s the consumer who is likely to suffer if mandatory CPD is thrown out,&quot; concluded Mr Bushby.</p> http://www.reisa.com.au/news/mandatory-cpd-benefits-agents-and-consumers http://www.reisa.com.au/news/mandatory-cpd-benefits-agents-and-consumers 1st Aug 13 Real estate advice for university students <p>University has just started again around the country, and some students are still scrambling to secure accommodation for the semester.</p> <p>With assignments, tests and exams set to come flooding in over the following weeks, life will be stressful enough without the added inconvenience of having to find a roof over your head.</p> <p>If you&#39;ve been too busy partying over the university break to go house-hunting, here are some <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate tips</a> to make sure you can find appropriate accommodation and study with peace of mind.</p> <p>The first and most logical step would be to have a look around the housing options offered by your university to see if there are still rooms available.</p> <p>There are online forums and message boards specifically for advertising vacancies for students, so search for the ones in your local area.</p> <p>Every university has its own set of residential buildings, catering for all types of students - from single-sex dorms to larger flats for mature students with children.</p> <p>These are usually a safe bet as the buildings are owned and operated by the university, and the application process is relatively straightforward. Many also offer perks such as insurance and some utilities as part of the rent.</p> <p>However, this also means that they are very popular, and if the allocations have been exhausted at your university, you may have to do an independent search for private properties.</p> <p>Your university can be a good starting place for these as well - most institutions have a rental database to help their students find a home.</p> <p>The University of South Australia is a good example. Its website lists the latest student-friendly vacancies in the SA private sector.</p> <p>If you&#39;re looking to share a larger building with a few other flatmates, why not consider a house in Parkside?</p> <p>The South Australian neighbourhood is currently the most searched suburb in Australia, according to <a href="http://www.realestate.com.au/buy">realestate.com.au</a>.</p> <p>Less than 10 minutes away from both the <a href="http://www.adelaide.edu.au/">University of Adelaide</a> and the <a href="http://www.unisa.edu.au/">University of South Australia</a>, it is a great spot to set up camp throughout the semester.</p> http://www.reisa.com.au/news/real-estate-advice-for-university-students http://www.reisa.com.au/news/real-estate-advice-for-university-students 31st Jul 13 Access To Finance Solution For Small Business <p>The Real Estate Institute of Australia (REIA) say entrepreneurial spirit is being stifled because of difficulties in access to finance for small business.</p> <p>REIA President, Peter Bushby says, &quot;According to the Australian Bureau of Statistics&rsquo; (ABS) publication examining barriers to innovation faced by Australian business in 2010-11, of businesses employing up to 4 people, 20.5% were lacking access to additional funds. Of businesses employing 5 to 19 persons, 22.8% reported a lack of access to additional funds as a barrier to innovation.&quot;</p> <p>&quot;Bank credit helps these businesses to facilitate their ongoing development without placing excessive strain on cash reserves or working capital. However, as they are often perceived to carry a higher degree of financial risk, small businesses can face higher costs when accessing credit from financial institutions.&quot;</p> <p>&quot;Residential property is used as security for lending to small businesses, which makes it particularly difficult for entrepreneurial Generation Y as only two out of five younger Australians own their own home.&quot;</p> <p>&quot;When it comes to real estate businesses (96% of which are small), lenders should be taking into account such assets as rent rolls, which provide strong cash flow stability. They tend to put all small businesses into one basket and that simply does not work.&quot;</p> <p>&quot;REIA wants to see an Australian Small Business Credit Resolution Service (AUSBCRES), which would mediate between financial institutions and small business when credit applications are refused and ensure that all applications by small businesses are adequately and properly assessed.&quot;</p> <p>AUSBCRES would be created as a division of the Small Business Commissioner / Small Business Ombudsman.</p> <p>Mr Bushby says, &quot;At his recent Press Club address, Prime Minister Rudd said, &lsquo;We must improve the operating environment for small business in this country. This involves access to capital&rsquo;. AUSBCRES would go a long way to assist.&quot;</p> <p>For the Small Business Credit Resolutions Service discussion paper, go to <a href="http://reia.com.au/userfiles/MEDIARELEASE_1375227962.pdf">http://reia.com.au/userfiles/MEDIARELEASE_1375227962.pdf</a></p> http://www.reisa.com.au/news/access-to-finance-solution-for-small-business http://www.reisa.com.au/news/access-to-finance-solution-for-small-business 30th Jul 13 Public housing amnesty offered to SA residents <p>Public housing tenants in South Australia will want to pay attention to this bit of <a class="dnautolink" href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing">real estate advice</a>.</p> <p>Housing SA is offering a month-long amnesty in an effort to encourage tenants to provide them with the latest and most accurate data.</p> <p>The amnesty will allow tenants to provide details of any undeclared income or household members, without facing a penalty.</p> <p>It will also act as a forum for Housing SA to answer questions tenants may have - for example, whether they are paying the correct rent - and should also help those whose circumstances have changed but are unsure whether they will incur penalties.</p> <p>&quot;This amnesty gives them the chance to tell Housing SA about any undeclared household members or additional income without the risk of penalty and no requirement to pay back any historical rental shortfalls,&quot; said Tony Piccolo, minister for social housing, in a Thursday (July 25) media release.</p> <p>&quot;Other community members can also anonymously report a situation where they believe there is an unapproved household member or additional income in a public housing property.&quot;</p> <p>Mr Piccolo added that the move was in response to similar amnesties in other states, which had proven effective.</p> <p>&quot;We&#39;ve seen from other jurisdictions that many tenants take the opportunity to update their details during an amnesty, to ensure they&#39;re paying a fair amount of rent,&quot; he said.</p> <p>&quot;Tenants who do not declare during the amnesty and are later found to be doing the wrong thing will face penalties, including paying back rent and - in some cases - the potential termination of their tenancy agreement.&quot;</p> <p>The amnesty will run for the entire month of August 2013.</p> <p>Members of the public can make declarations through a variety of channels:</p> <p>- Over the phone on 1300 138 093 during business hours;<br /> - Emailing <a href="mailto:housingsa.amnesty@dcsi.sa.gov.au">housingsa.amnesty@dcsi.sa.gov.au</a>; or<br /> - Submitting an online form at <a href="http://www.sa.gov.au/housingsa/amnesty">www.sa.gov.au/housingsa/amnesty</a>.</p> http://www.reisa.com.au/news/public-housing-amnesty-offered-to-sa-residents http://www.reisa.com.au/news/public-housing-amnesty-offered-to-sa-residents 29th Jul 13 3 skills you need to make it in real estate <p>If you&#39;re at a stage in your life where you think a new challenge may be just what you need, a <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate career</a> is worth looking into.</p> <p>It&#39;s a well-known truth within the industry: a career in real estate can be extremely challenging, requiring you to combine excellent interpersonal skills with your sales and business acumen.</p> <p>However, with the right motivation and dedication, you can reap enormous financial rewards.</p> <p>Here are three skills that are must-haves for anyone looking to break into the industry. Have you got what it takes to succeed in real estate?</p> <p><strong>1. Time management skills</strong></p> <p>Real estate professionals are among the busiest people you&#39;ll meet, and it is not uncommon for agents to have the occasional 12-hour shift.</p> <p>Without the restrictions of a 9-to-5 work schedule, there will never be a day where you&#39;re stuck in the office, and you will have to be mobile, active and able to manage your day efficiently.</p> <p><strong>2. People skills</strong></p> <p>As a real estate agent, your job revolves around sales and you will be talking and negotiating with a broad range of people.</p> <p>Whether you are discussing a property&#39;s value with the seller or laying out its unique selling points to a potential buyer, you will have to be able to read people accurately and respond accordingly.</p> <p><strong>3. Numerical skills</strong></p> <p>It is a given that real estate agents do a lot of number crunching as part of their work.</p> <p>Can you look at a comprehensive market report and instantly pick out the most important trends? Can you size up a property and use your judgment to place the most suitable value on it?</p> <p>Real estate agents need an analytical mindset that can work with numbers to support their business goals.</p> <p>As you can see, a career in real estate requires a unique blend of skills. If you think you&#39;re up to it, REISA offers <a class="dnautolink" href="http://www.reisa.com.au/training/a-career-in-real-estate">real estate agent training</a> to help kick-start your new career.</p> http://www.reisa.com.au/news/3-skills-you-need-to-make-it-in-real-estate http://www.reisa.com.au/news/3-skills-you-need-to-make-it-in-real-estate 26th Jul 13 4 things to consider when buying to renovate <p>So you&#39;ve been eyeing that old run-down property that nobody else wants. You feel that with a few magic touches, you can spruce it up and turn it into your dream home.</p> <p>Renovating an old property can bring a wonderful sense of achievement. Apart from the fact that you get to add your own personal touches to an otherwise neglected building, you get to see the fruits of your labour as you manage what can be an intricate and challenging project.</p> <p>However, there are several things to consider before reaching for your ladder and cans of paint.</p> <p>Here are some key <a href="http://www.reisa.com.au/publicinfo/buying-selling-renting-investing" target="_blank">real estate tips </a>to consider:</p> <p><strong>1. Get an inspection</strong></p> <p>It is absolutely critical that you get a qualified, reliable inspector to provide a report of the building you have set your eyes on.</p> <p>While pre-purchase reports are expensive - they can cost up to $500, according to The Daily Telegraph - they offer a sense of security and will provide a comprehensive analysis of any faults the building might be hiding.</p> <p><strong>2. Check for asbestos</strong></p> <p>While asbestos has been banned in South Australia for some time, if the house is really old, you will definitely want to conduct a thorough search - approximately one third of all houses in Australia contain asbestos, according to Master Builders Australia.</p> <p>This is because some inspection reports will not cover asbestos, due to the difficulty of accessing it. You will want to hire a professional who can locate and remove any asbestos.</p> <p><strong>3. Get a permit</strong></p> <p>Take the time to find out which permits, approvals and licenses you will need, because any renovation work will require at least one.</p> <p>Not only is this a legal requirement, it will make things a whole lot easier when you sell your home in future, according to Your Investment Property.</p> <p><strong>4. Think long-term</strong></p> <p>Your Investment Property advises taking a long term-approach to your project, and to start with a master plan.</p> <p>This will also involve keeping re-sale in mind, as your personal tastes might not align with the majority of other home buyers.</p> http://www.reisa.com.au/news/4-things-to-consider-when-buying-to-renovate http://www.reisa.com.au/news/4-things-to-consider-when-buying-to-renovate 25th Jul 13 SA still one of Australia's least expensive markets <p>South Australia continues to rank as one of the country&#39;s most affordable housing markets despite residential property prices reaching a three-year high, according to The Australian.</p> <p>Australian house prices were at their highest since 2010 in the June quarter and are showing no signs of abating.</p> <p>Median house prices across the nation increased by 2.8 per cent in the June quarter, marking the third consecutive quarterly rise, according to the Australian Property Monitors (APM).</p> <p>However, the latest figures from the APM suggest that house prices in Adelaide remain among the lowest in the country, along with Brisbane.</p> <p>For those looking to invest in land to build their own home, a recent report from the Housing Industry Association (HIA) is suggesting that the country&#39;s most affordable land is right here in South Australia.</p> <p>The latest HIA-RP Data Residential Land Report offers some promising figures. Of the 10 least expensive regional markets in Australia, an astonishing half was in SA. Yorke and Lower North was the second least expensive market in the entire country, with a median lot price of $80,000.</p> <p>The other South Australian regions that made the list were Murray Lands, Northern, South East, and Eyre.</p> <p>None of the ten most expensive markets was located in South Australia.</p> http://www.reisa.com.au/news/sa-still-one-of-australias-least-expensive-markets-93 http://www.reisa.com.au/news/sa-still-one-of-australias-least-expensive-markets-93 25th Jul 13 SA still one of Australia's least expensive markets <p>South Australia continues to rank as one of the country&#39;s most affordable housing markets despite residential property prices reaching a three-year high, according to The Australian.</p> <p>Australian house prices were at their highest since 2010 in the June quarter and are showing no signs of abating.</p> <p>Median house prices across the nation increased by 2.8 per cent in the June quarter, marking the third consecutive quarterly rise, according to the Australian Property Monitors (APM).</p> <p>However, the latest figures from the APM suggest that house prices in Adelaide remain among the lowest in the country, along with Brisbane.</p> <p>For those looking to invest in land to build their own home, a recent report from the Housing Industry Association (HIA) is suggesting that the country&#39;s most affordable land is right here in South Australia.</p> <p>The latest HIA-RP Data Residential Land Report offers some promising figures. Of the 10 least expensive regional markets in Australia, an astonishing half was in SA. Yorke and Lower North was the second least expensive market in the entire country, with a median lot price of $80,000.</p> <p>The other South Australian regions that made the list were Murray Lands, Northern, South East, and Eyre.</p> <p>None of the ten most expensive markets was located in South Australia.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> http://www.reisa.com.au/news/sa-still-one-of-australias-least-expensive-markets http://www.reisa.com.au/news/sa-still-one-of-australias-least-expensive-markets 24th Jul 13 Inflation Slow Down Leaves Room For Rates Cut <p>The June 2013 quarter Consumer Price Index (CPI) figures show that the Reserve Bank of Australia&rsquo;s (RBA) consumer price measures of inflation are within their target zone and continue to slow down.</p> <p>Real Estate Institute of Australia (REIA) President, Mr Peter Bushby, says the Reserve Bank should deliver the cuts to interest rates that the economy needs.</p> <p>&quot;In the June quarter, the consumer price index rose by 0.4% and annual inflation rate is now 2.4%. These figures are well within the RBA&rsquo;s target zone of 2-3% and should provide a clear message to the Board to further ease its monetary policy,&quot; Mr Bushby said.</p> <p>The analytical series of trimmed mean and weighted median increased by 0.5% and 0.7% respectively for the June quarter 2013, compared to increases of 0.3% and 0.5% respectively in the March 2013 quarter.</p> <p>&quot;The annual changes for the trimmed mean and for the weighted median were 2.2% and 2.6% respectively and are identical to the changes for the twelve months to the March quarter 2013,&quot; Mr Bushby said.</p> <p>The housing group increased by 0.6% for the June quarter compared to 1.2% in the March 2013 quarter - the annual rate of increase was 5.3%.</p> <p>The main increases in the June quarter for the housing group were rents and gas and other household fuels which increased by 1.1% and 1.0% respectively. For the year to June 2013, the largest increases in the housing group were for electricity (17.2%) and gas and other household fuels (15.3%). Rents increased by 3.4% for the year.</p> <p>&quot;Previously, the RBA indicated that the inflation outlook could provide scope for further easing if it was needed to support demand. With inflation well under control and a subdued economy, it&rsquo;s appropriate we see a further cut in interest rates when the RBA Board meets in August,&quot; Mr Bushby concluded</p> http://www.reisa.com.au/news/inflation-slow-down-leaves-room-for-rates-cut http://www.reisa.com.au/news/inflation-slow-down-leaves-room-for-rates-cut 24th Jul 13 Why is it important to learn scripts for a real estate agent? <p>Think actors are the only people who have to learn scripts as their job? Think again. Scripts are a vital part of any real estate career and they can be essential in moving up the ranks.<br /> <br /> Every new real estate agent in training has to spend a significant portion of their time both learning and practising the scripts given to you during real estate courses.<br /> <br /> Once the new starter has the basics of the scripts down, they are able to begin fine tuning them to suit their own style and personality so that they flow naturally and are believable.<br /> <br /> Using scripts have many benefits for starters.<br /> <br /> For one, they were created and edited by long-standing professionals in the industry. So learning scripts and understanding their meaning is essentially like taking advice directly from someone who knows the industry well - which will continue to be a big part of improving your skills throughout your career.<br /> <br /> Another point is that when you&#39;re still learning you&#39;re likely to encounter some situations where you&#39;re not exactly sure what to do. Having a standby phrase to use in this case can deflect the issue to someone who will know how to deal with it, or at least put it off until later when you can find out what the protocol is.<br /> <br /> Scripts can also give you an idea of what to expect from customers. Since you are heading straight out into the field, the lines that you have learnt can offer some insight into the types of questions that you&#39;ll commonly hear on the job. Knowing what is coming can help you to prepare yourself in advance so you&#39;ll be ready to deal with anything!</p> http://www.reisa.com.au/news/why-is-it-important-to-learn-scripts-for-a-real-estate-agent http://www.reisa.com.au/news/why-is-it-important-to-learn-scripts-for-a-real-estate-agent 24th Jul 13 Auctions Popular In 2013 <p>Were you paying attention during the auction section of your real estate training?&nbsp; Because new data shows that the number of auctions around Australia is on the rise.<br /> <br /> In a new blog post from RP Data researcher Cameron Kusher on the number of properties that sold in the first quarter of 2013 via auction, a sharp rise in auction sales has been noted.<br /> <br /> During the course of your real estate career it&#39;s likely that you will both attend and run numerous auctions successfully and unsuccessfully, but it&#39;s important to note what the current trends are in auctions around the country and in South Australia in particular to help you gauge whether making that decision will work best for you and for home buyers and sellers.<br /> <br /> Mr Kusher noted that on a week-to-week basis, so far this year there have been 1,445 auctions, whereas the same period last year saw an average of 1,334 auctions per week. Compared to 2011, there we just 1,384 auctions per week for the same period nationally.<br /> <br /> Not only are there more auctions occurring every week, the likelihood of a home selling this was has increased from a 50/50 chance to a 60/40 chance.<br /> <br /> &quot;With a rising auction clearance rate it is interesting to look at the proportion of successful auction sales across the combined capital cities, compared to sales by private treaty. Over the first quarter of the year, 14.3 per cent of all sales across the combined capital cities were transacted by auction,&quot; Mr Kusher explained.<br /> <br /> Mr Kusher notes that while the numbers of auctions are on the rise, it&#39;s still important to remember that the majority of homes are not sold this way and sale by private treaty remains the preferred method.</p> http://www.reisa.com.au/news/auctions-popular-in-2013 http://www.reisa.com.au/news/auctions-popular-in-2013 23rd Jul 13 Common Sense Lacking In National Licensing Proposal <p>The Real Estate Institute of Australia (REIA) Board has reiterated its opposition to the Council of Australian Governments&rsquo; (COAG) proposal to dilute standards within the real estate profession, as documented in its Decision Regulatory Impact Statement (DRIS) on national licensing.</p> <p>Following the REIA Board meeting this morning, President Mr Peter Bushby said, &quot;While we welcome the decision to maintain licensing of commercial agents, common sense needs to be extended to a number of other issues.&quot;</p> <p>&quot;It&rsquo;s simply unacceptable to dumb down qualifications from a Diploma level (in four states and territories) to a Certificate IV and to have auctioneers reduce their qualifications from REIA&rsquo;s recommended 12 units to just three.&quot;</p> <p>&quot;We are also concerned that sales/agents&rsquo; representatives will have their qualifications reduced to just four units.&quot;</p> <p>&quot;There&rsquo;s no mandated Compulsory Professional Development in the DRIS and lower education standards will potentially lead to a greater number of consumer complaints, which naturally leads to greater costs and will inevitably increase insurance premiums.&quot;</p> <p>&quot;The impact on consumers has been swept under the carpet. The Decision RIS mentions consumers but then comments that any impact on them is difficult to quantify, so they have been excluded from the analysis,&quot; added Mr Bushby.</p> <p>&quot;COAG has ignored the issue of conduct harmonisation, covering operational requirements such as trust accounts, in this proposal too. While jurisdictions are operating under different conduct legislation, the full benefits of national licensing won&rsquo;t be realised. We call for this process, which stalled in July 2011, to be reactivated.&quot;</p> <p>&quot;The DRIS recognises the conduct harmonisation issue but still persists on pushing through its half-baked proposals. Surely, there is an argument for the deferment of national licensing for property until conduct harmonisation is addressed.&quot;</p> <p>&quot;REIA wants real estate to be moved to the second tranche of national licensing with the other property occupations so that the matters raised can be adequately addressed &ndash; something that has not yet been done.&quot;</p> <p>&quot;REIA will submit a formal response to the DRIS and most states and territories will provide their own consultation sessions with stakeholders in coming weeks,&quot; concluded Mr Bushby.</p> http://www.reisa.com.au/news/common-sense-lacking-in-national-licensing-proposal http://www.reisa.com.au/news/common-sense-lacking-in-national-licensing-proposal 22nd Jul 13 Pricing Properties Accurately For Quick Sales <p>A sale can be sped up by accurately pricing a property in the first place, rather than letting it sit on the market and discounting it later on.</p> <p>Once you start your real estate career you soon learn that your education on the property market is never really over.<br /> <br /> There are always new things to learn and be aware of, new trends and statistics that may be able to help you improve your skills and advance your career.<br /> <br /> The RP Data blog is a good way to keep in touch with current trends in the property market and continue on with your own personal real estate training.<br /> <br /> In a recent release by the blog, researcher Cameron Kusher highlights the trend that occurs when houses remain on the market for long periods of time.<br /> <br /> He found that if vendors apply the right price to a home at the time of listing, then it can make a big difference to how long it takes for the property to sell.<br /> <br /> The alternative is that the price is often too high, which can mean that the house sits on the market for longer than necessary, and results in the vendor discounting the property to ensure a sale.<br /> <br /> Mr Kusher offers a piece of advice for agents in the entry too, as he says that &quot;getting the price right in the first place is imperative - you can sell quicker and move on to your next property. Holding out for a better price tends to ultimately result in a greater level of discounting&quot;.<br /> <br /> As a real estate agent, it will be your job to help the seller to decide if the price they eventually accept for their home is a fair one, and as such, &quot;one of the greatest challenges for vendors is whether to accept an initial offer on their property or whether holding out for a better price is a better strategy&quot;.</p> <p>&nbsp;</p> http://www.reisa.com.au/news/pricing-properties-accurately-for-quick-sales http://www.reisa.com.au/news/pricing-properties-accurately-for-quick-sales 18th Jul 13 REISA Pleads Its Case <p>REISA today provided its submission to the Government on the Land and Business (Sale and Conveyancing) Regulations 2010.</p> <p>The document contains 24 proposals and REISA will be meeting with the Minister in the next fortnight to discuss its recommendations.</p> <p>Thank you to those Members who approached REISA staff at the training sessions and gave them some feedback about current industry practices.&nbsp; Several of your ideas have been included.</p> <p>In short, the top 5 issues that the submission calls for are as follows:</p> <ul><li><strong>Allowing Form 1s to be delivered by email.</strong>&nbsp; Real estate agents should be able to utilise modern means of technology, provided that consumer protection is still maintained.&nbsp; Allowing the purchaser to cool-off by email but not allowing an agent to deliver the Form 1 by email is just illogical.</li> <li><strong>Reducing the size of sales agency agreements.</strong>&nbsp; A sales agency agreement should be able to be completed in the universally accepted 10 point font commonly used for consumer agreements.</li> <li><strong>Removing the requirement for an agent or sales representative to pay for a valuation.</strong>&nbsp; If the property is sold to an associate, the associate should pay for the valuation.</li> <li><strong>Abolishing the 24 hour requirement of electronic copies.</strong>&nbsp; Agents should not have any time restriction of making electronic copies.&nbsp; Agents should also be able to back capture archived hard copies onto electronic media for the purpose of reducing storage space and costs.</li> <li><strong>Streamlining the requirement to give financial and investment advice.</strong>&nbsp; Agents should not be required to deliver the warning in writing.&nbsp; If advice is given verbally, an agent should simply be able to refer the consumer to the CBS website which has the required warning.</li> </ul> <p>In addition, REISA has requested that it work closely with CBS on changes to the Forms (particularly the Form R1), copies of current CBS publications that need amending and the education campaign for members of the real estate industry and consumers.</p> <p>REISA will keep you updated with all future developments as consultation with the Government (and negotiations!) proceed.</p> http://www.reisa.com.au/news/reisa-pleads-its-case http://www.reisa.com.au/news/reisa-pleads-its-case 17th Jul 13 Understanding Negative Gearing <p>One part of the property sector that can seem particularly confusing is the concept of negative gearing.</p> <p>If you have an interest in the industry, are new to the game or an old hand who needs a refresher, read through these pointers as a guide to the seemingly bizarre facet of property investment, and you&#39;ll understand it in no time.</p> <p><strong>What is it?</strong></p> <p>Negative gearing occurs when an investor borrows money to buy a property, and then rents it out. Of course, investors are subject to the same interest rates as everyone else, so that loan will have additional interest charges on top of the required repayments.</p> <p>Usually, these repayments, and the interest on the loan would be covered by the rent paid to the investor by the tenants.</p> <p>Sometimes however, these payments don&#39;t cover the repayments and the interest, or there are costs associated with the property such as upkeep that will mean that the investor is actually making a loss on their investment, which is when it becomes a negatively geared property.</p> <p><strong>Why would an investor hold onto a property like this?</strong></p> <p>You&#39;d think anyone who didn&#39;t plan their investment to actually bring in revenue was unfortunate, and you&#39;d think anyone who held on to a negatively geared property wasn&#39;t particularly wise, but there are benefits for this kind of investor.</p> <p>The investor can claim tax deductions on the full amount of their rental expenses against their other income, so when balanced correctly, it can in fact work well.</p> <p>Which is assumedly why over one million investors reported negative gearing in the 2010/11 financial year, according to the Australian Tax Office.</p> <p><strong>Why is it good for Australia?</strong></p> <p>So why would the government give tax out deductions like this? It is because negative gearing allows investors to provide more affordable housing for many Australians, which in turn means that the government, and the tax payer, have fewer properties to fund into construction to meet housing demands. This way, negative gearing can work well for everyone.</p> http://www.reisa.com.au/news/understanding-negative-gearing http://www.reisa.com.au/news/understanding-negative-gearing 17th Jul 13 Tenancy discrimination - what you need to know <p>Whether you are a renter looking for a new place to live, or a property owner seeking tenants to occupy your investment property, it&#39;s important to read up on the rules and regulations surrounding discrimination in South Australia.</p> <p>This is because both tenants and landlords have certain responsibilities and legal obligations to uphold in order to ensure everyone gets a fair opportunity.<br /> <br /> Under the Equal Opportunity Act 1984 (SA), it is illegal for landlords to discriminate based on age, gender, disability, marital status, pregnancy, race, religion (including religious dress), sex or sexuality.<br /> <br /> Landlords are also not allowed to discriminate based on a person&#39;s association with a child, their caring responsibilities, or based on their spouse or partner&#39;s identity.<br /> <br /> For property owners, this means that you are not allowed to turn down a person&#39;s rental application based solely on any of the aforementioned factors, or you may be held legally liable for discrimination.<br /> <br /> This does not mean that you have to take the first person who applies for your property. You still have a legal right to choose the best applicant from all potential tenants.<br /> <br /> You are allowed to turn someone down based on their past rental history - such as whether or not they have been evicted - as well as if they are a smoker or a pet owner.<br /> <br /> It is actually good practice to inform your unsuccessful applicants as to the reasons they have not been chosen for a property, so as to avoid the potential of a discrimination claim.<br /> <br /> However renters should be aware that they have legal recourse if a landlord tells them they have been rejected for a property for discriminatory reasons.&nbsp;<br /> <br /> For example, if you apply to rent a house and are told that your application was unsuccessful due to the colour of your skin or your marital status, then you have grounds to claim discrimination.&nbsp;<br /> <br /> <strong>Want to learn more?</strong><br /> <br /> If you are a property hunter looking for more real estate tips and advice, consider contacting a&nbsp;REISA member who can provide you with expert knowledge on your legal rights.<br /> <br /> Property managers wanting more information about real estate legislation as well as ethical and conduct standards might consider taking a specialised property management course in order to expand their skills and knowledge base. <a href="http://www.reisa.com.au/training/property-management-3" target="_blank">Click here </a>to see what Property Management courses REISA offer.</p> http://www.reisa.com.au/news/tenancy-discrimination-what-you-need-to-know http://www.reisa.com.au/news/tenancy-discrimination-what-you-need-to-know 17th Jul 13 Tips to find the best tenants for your property <p>Finding a tenant on behalf of someone else can be one of the hardest parts of property management, and nabbing a great tenant could save you a lot of work later on!</p> <p>So how do you find the right one, or the right group?</p> <p>Here are a few tips that will keep you, your client, and your tenants happy.</p> <p><strong>Use the right bait</strong></p> <p>To attract the tenant of your dreams, make sure your advertisements are written in a way that will be relevant to the kind of person you&#39;re after.</p> <p>While the ad for a beachfront villa will differ in content from a high-rise penthouse, don&#39;t forget to change your style accordingly too. Think about the interests of the tenants that would like to live there, and write to them, in language appropriate for the tenant and the property.</p> <p><strong>Reel them in</strong></p> <p>Once you&#39;ve got them checking out your open home or rental viewing, take the time to ask the right questions and be available to answer theirs.</p> <p>Watch body language to see how interested they are in the property - do they hang around longer than other viewers? Do they come armed with questions? There will be plenty of cues as to whether they are truly interested, so you can gauge how interested they are, and you can decide if you are interested in them.</p> <p><strong>Hook, line and sinker</strong></p> <p>Once you&#39;ve got an application from someone you know will love the property and look after it accordingly, keep them there!</p> <p>If they&#39;ve got issues, find ways to resolve them without fuss or too much delay. If they have questions, answer them as soon as you can. Keeping up good lines of communication will mean your tenants will be more open to resolving issues rather than finding new places to live.</p> http://www.reisa.com.au/news/tips-to-find-the-best-tenants-for-your-property http://www.reisa.com.au/news/tips-to-find-the-best-tenants-for-your-property 16th Jul 13 REISA Sets The Record Straight <p>An article was published by&nbsp;REBonline&nbsp;concerning the pending legislative changes to property&nbsp;sals&nbsp;in South Australia.&nbsp;REISA&nbsp;CEO, Greg&nbsp;Troughton&nbsp;responded to&nbsp;REBonline&nbsp;about this article.&nbsp;REBonline&nbsp;have today published a follow up article quoting excerpts from Greg&#39;s email. We would like&nbsp;REISA&nbsp;Members to read the original complete text of&nbsp;the email sent by Greg.</p> <p>Stacey</p> <p>I thought that I would email you given some of the perceived hysteria relating to the new laws impacting on residential auction in South Australia. Let me say from the outset that the Real Estate Institute of SA has now trained well over 1000 of our members and there has not been any more than a whimper of concern over how the legislation is to work (as opposed to some of the assumptions made by many on your earlier articles on this matter).</p> <p>It is important to note that the entire rationale for the changes to the residential auction legislation is to stop underquoting &ndash; deliberately &lsquo;quoting it low to watch it go&rsquo; as some say in the trade. In a practical sense, the scenario that is being sought to be eradicated is the constant price representation of say $400k incessantly over the period of the auction campaign, and then upon arrival of the auctioneer, the reserve price being set at say $500k. I use that as an example for convenience.</p> <p>I have said it time and time again throughout the training of SA real estate agents &ndash; you have nothing to worry about if you do not engage in the insidious practice of underquoting. In short, it is business as usual for you and you should continue doing what you have been doing.</p> <p>Under the new legislation, one of the many first things that needs to be determined between the vendor and the agent when selling residential land at auction is to decide whether a price representation will be made at all through the campaign. Put simply, will you give a price indication in the form of print, online or verbally? If you choose not to then there is really no issue &ndash; this, of course, is the purest form of auction. If however, you decide to make price representations at any time during the auction campaign, then you need to be aware that generally speaking the baseline price representation cannot under any circumstances go below the price sought by the vendor. In making that statement I have deliberately oversimplified the issue for the sake of simplicity. So that establishes the baseline price representation and generally speaking the vendor &#39; s price is a higher than that of the agent&rsquo;s appraisal. And before I hear the howls and screams that sometimes the agent price is above that sought by the vendor, I make the following observation. While I am happy to have a doctoral thesis type discussion about the exception of the vendor wanting less than the appraised price of the agent, I think we should leave that to one side, as I think we can all agree it is very, very rare indeed. Now with the baseline price representation being established, any price representations can be made above that amount (albeit subject to some limitations like the ten per cent guide rule eg $500,000-$550,000). As many real estate practitioners would acknowledge (and have done so many, many times), why you would want to ever go higher if the vendor is seeking, say $500,000, would be perplexing (but again not out of reality but I will leave that to my doctoral thesis). This is not new &ndash; this has been law in South Australia since 2008.</p> <p>Now along with the baseline representation, there is the new requirement to ensure that the reserve price set by the vendor can never be more than ten percent above the vendor&#39;s sought after price. As a result, if you do make a price representation pursuant to the requirements in the previous paragraph at any time during the auction campaign, then, yes, it would be reasonable to assume that the purchasing community would be able to put two and two together to make four and determine the likely reserve price. By way of example (again keeping it simple but reflective of the real world), if a vendor is seeking $500,000 for residential property at auction then the following applies:</p> <ul><li>In terms of the baseline price representation (should you do one) then you can never make a price representation below $500,000; again to stress the point you can say any of the following and it will be okay &ndash;</li> </ul> <p style="margin-left: 40px;">$500,000</p> <p style="margin-left: 40px;">$500, 000-$550,000</p> <p style="margin-left: 40px;">$580,000 - $620,000 (again not below $500,000 and certainly no greater gap than the ten percent amount from the lower end of the range)</p> <ul><li>In terms of the reserve price permitted, on the day (whether or not you have made a price representation or not) the reserve cannot be any more than ten percent above the price sought by the vendor. Again to stress the point &ndash;</li> </ul> <p style="margin-left: 40px;">If your vendor chooses to go without any price representation (as is the law in Queensland for example) then the vendor should be advised to include in the sales agency agreement a sought after price by the vendor that will give the vendor maximum flexibility to reduce the reserve price on the day &ndash; remember you can reduce it but you CANNOT under any circumstances increase the reserve price by more than the ten percent. Also, putting it simplistically - you can never underquote if you don&rsquo;t quote a price to the purchasing public.</p> <p style="margin-left: 40px;">If your vendor chooses to go with a price representation or guide, then the baseline provisions apply (again in simple real life terms never going below the vendor&#39;s sought after price) AND the vendor will be limited to increasing their reserve by no more than ten percent on the day of auction from that price sought at the beginning of the residential auction campaign (remembering again a reserve can go down but not up by any more than the ten percent).</p> <p>It is important to remember that the decision as to whether or not to quote a price for auction should always remain the domain of the vendor. I appreciate that there will be many agents out in the real world (as compared to myself in my ivory tower) that like to assist prospective purchasers by giving a price indication. I also appreciate that in very rare circumstances that the situation of a vendor or even the market place (I am going to great lengths here as you can see by being as flexible in my commentary as possible) can change. I can even acknowledge that in some circumstances you don&rsquo;t know the likely price of some property as it is so unique. Given all of that, it becomes even more important for the vendor, upon guidance and expertise on the part of the agent, to determine what is the best approach for the property at hand. Finally, let&rsquo;s say something did go awry from the beginning or during the auction campaign that limits the vendor&#39;s reserve price and in hindsight they wished they had a a crystal ball to go back in time &ndash; well, if that is in fact the case, regardless of circumstance, wont it be the market forces that will determine the price of the property in any case and the reserve price simply becomes a bystander in all of this? I will leave that one for you and your readers to ponder.</p> <p>What about the option of simply cancelling the sales agency agreement or simply changing the vendor&#39;s price sought? The legislature has put in protections to ensure that this cannot be done and I believe any cute practice that might be adopted by agents should be thought through very carefully as this will become a flag to the regulators to review matters closely. After all, the Parliament has approved extra funding for regulator staff to police and prosecute under the new legislation.</p> <p>I have said it before and I will keep saying it to my members until I am blue in the face &ndash; if you do not engage in the distasteful practice of underquoting then you have nothing to fear - keep doing what you have always done. For those that might consider the insidious practice (and I strongly believe that it may be a very very small minority) then you have everything to fear and from REISA&rsquo;s perspective you should not only get caught but be prosecuted to the fullest extent of the new laws.</p> <p>Finally, your articles by Steven Cross on both REBonline (23 May) and The Advisor (5 July) have led to some interesting commentary. Yes, in earlier days REISA expressed some concern about the legislation &ndash; after significant amounts of negotiation on this (including those relating to the most important matter affecting the profession being National Licensing) we believe we have the optimum outcome. The reaction of over one thousand of our members in recent weeks is a testament to this. Will it hurt auctions? I do not believe so, as it remains evermore the most transparent way of selling property. I anticipate that given the increased transparency, and the market place doing what it always has done and that is determine what the market is prepared to pay for a property, then this method of selling at auction will likely increase from its current level (of around 8%) in South Australia. Do you have to reveal your reserve price? Of course not.</p> <p>Happy to discuss further if need be.</p> <p>Greg</p> http://www.reisa.com.au/news/reisa-sets-the-record-straight http://www.reisa.com.au/news/reisa-sets-the-record-straight 15th Jul 13 Consumers Ignored In National Licensing Report <p>The Real Estate Institute of Australia is bitterly disappointed that the Council of Australian Governments (COAG) seems determined to dilute standards within the real estate profession.</p> <p>The COAG National Licensing Steering Committee released its 264 page Decision Regulatory Impact Statement (RIS) on national licensing late this afternoon.</p> <p>&quot;As expected, COAG has dumbed down qualifications with agents going from Diploma level (in four states and territories) to a Certificate IV and auctioneers plummeting from REIA&rsquo;s recommended 12 units to just three.&quot;</p> <p>&quot;There&rsquo;s no mandated Compulsory Professional Development as is the case in four states and territories and no certainty over how the licensing of commercial agents will operate.&quot;</p> <p>&quot;If COAG continues on this path, the biggest risk is to the consumer. I simply do not understand why the needs of the Australian public have not been taken into account in this process. The Decision RIS mentions consumers but then comments this is difficult to quantify and that they have been excluded from the analysis.&quot;</p> <p>&quot;The states and territories will provide their own consultation sessions with stakeholders in coming weeks.&quot;</p> <p>&quot;I urge the state and territory Treasurers to listen to industry and include consumers in their deliberations.&quot;</p> <p>&quot;The REIA Board will meet to thoroughly analyse the contents of the Decision RIS but we are aghast that there is very little change between the Decision and the initial Consultation RIS.&quot;</p> <p>&quot;What&rsquo;s the point of consultation when the views of industry are not listened to. There was overwhelming opposition to the initial proposal from the real estate profession.&quot;</p> <p>&quot;REIA wants a national licensing system which requires real estate agents to achieve a diploma level for licensing, requires compulsory continuing professional development and requires licensing for commercial agency work.&quot;</p> <p>&quot;REIA wants real estate to be moved to the second tranche of national licensing with the other property occupations so that the matters raised can be adequately addressed &ndash; something that has not yet been done.&quot;</p> <p>&quot;It is jaw dropping that the state-based mutual recognition option was thrown overboard in favour of centralised control by a multi million dollar bureaucracy created federally &ndash; the National Occupational Licensing Authority (NOLA).&quot;</p> http://www.reisa.com.au/news/consumers-ignored-in-national-licensing-report http://www.reisa.com.au/news/consumers-ignored-in-national-licensing-report 12th Jul 13 First Home Buyers Left Behind As Housing Finance Improves <p>The Real Estate Institute of Australia (REIA) says the latest housing finance figures released by the Australian Bureau of Statistics (ABS) show that whilst total lending for housing is growing in response to interest rate cuts and the positive housing outlook, first home buyers are being hampered by state government initiatives favouring the purchase of new housing.</p> <p>Housing finance figures for May 2013 show, in trend terms, that the number of owner-occupied finance commitments rose by 1.8 per cent &ndash; following increases of 1.9 per cent in both March and April.</p> <p>If refinancing is excluded, the increase, in trend terms for May, is 2.0 per cent.</p> <p>REIA President, Peter Bushby says, &quot;Increases were recorded in all states except the Northern Territory. The largest increases were in Western Australia and South Australia, up 2.4 per cent in trend terms.&quot;</p> <p>&quot;There are increases in the purchase of established dwellings (up 1.7 per cent in trend terms), the purchase of new dwellings (up 3.6 per cent in trend terms) and the number of commitments for the construction of new dwellings (up 1.3 per cent in trend terms),&quot; Mr Bushby continued.</p> <p>&quot;The proportion of first home buyers in the number of owner-occupied housing finance commitments rose slightly to 14.6 per cent compared to the April figure of 14.3 per cent. The figure remains persistently low compared to the long-run average proportion of 20.1 per cent.&quot;</p> <p>&quot;In large part, this drop can be attributed to State Governments, except Western Australia, withdrawing previous levels of support for first home owners buying established dwellings and it&rsquo;s established dwellings that 80 per cent of first home buyers prefer.&quot;</p> <p>The value of investment housing commitments rose by 0.9 per cent, in trend terms, in May resulting in the eleventh consecutive monthly increase.</p> <p>&quot;With the proportion of first home buyers remaining consistently below the long term average, this should be a priority issue for both major parties as we approach the federal election,&quot; concluded Mr Bushby.</p> http://www.reisa.com.au/news/first-home-buyers-left-behind-as-housing-finance-improves http://www.reisa.com.au/news/first-home-buyers-left-behind-as-housing-finance-improves 12th Jul 13 Capping Self Education Deductions Is A Tax On Learning <p>The Real Estate Institute of Australia (REIA) says ongoing education is critical to performance through keeping abreast of developments in the industry and that capping deductions will stifle innovation.</p> <p>REIA&rsquo;s comments are in response to a discussion paper by Treasury and follow the 2013 Budget announcement of a proposal to cap work related education expense deductions at $2,000 from 1 July 2014.</p> <p>REIA President, Mr Peter Bushby says, &quot;In any one year, an agent will typically attend a Continuing Professional Development (CPD) course, local industry information sessions, seminars, discussion forums and conferences.&quot;</p> <p>&quot;Such self education is aimed at keeping the agent&rsquo;s knowledge current on such things as changes in legislation, conduct laws, consumer law, industry developments, conflict management and court procedure,&quot; added Mr Bushby.</p> <p>&quot;There are different conduct laws in different jurisdictions and specific laws relating to property that are relevant to selling or managing rental properties (such as different laws relating to smoke alarms in residential premises) that will apply in different states and territories that a real estate professional needs to know about.&quot;</p> <p>&quot;Given that agents are entrusted to either sell or manage the biggest investment many consumers will make, it is necessary to ensure that those with that responsibility undertake ongoing education and professional development to ensure they retain their knowledge base.&quot;</p> <p>&quot;At a time when education has never been more important to improve productivity and economic growth, the proposed cap effectively imposes a tax on learning.&quot;</p> <p>&quot;It will be a disincentive to those seeking to maintain their skills base and knowledge and a consequence will be that professionals will invest up to the level of the cap and no more.&quot;</p> <p>&quot;This will have the most impact on those living outside the capitals required to attend courses and on women upgrading their skills and knowledge of the industry when returning to the workforce after having children.&quot;</p> <p>&quot;Standards, productivity and consumer protection will all be eroded,&quot; concluded Mr Bushby.</p> http://www.reisa.com.au/news/capping-self-education-deductions-is-a-tax-on-learning http://www.reisa.com.au/news/capping-self-education-deductions-is-a-tax-on-learning 10th Jul 13 Housing Affordability First Quarter Report <p>The proportion of income required to meet monthly loan repayments in South Australia during the March quarter was recorded at 30.6%. Housing affordability improved 0.8 percentage points over the quarter and 2.8 percentage points compared to the same time last year. &nbsp;</p> <p><span style="font-size: 1em; line-height: 1.5em;">Over the quarter, rental affordability worsened by 0.6 percentage points, with the proportion of income required to meet rent payments recorded at 25.6%. Compared to the March quarter of the previous year, that&rsquo;s an improvement of 0.8 percentage points.</span></p> <p><span style="font-size: 1em; line-height: 1.5em;">Over the March quarter, South Australia recorded the nation&rsquo;s only increase in the number of loans to first home buyers, up to 1.8%, to 1,534. Compared to the same quarter in 2012, the number of first home buyer commitments rose 15.3% and of all first home buyers over the quarter 8.4% were in South Australia. The average loan size to first home buyers increased 0.5% during the quarter and 2.3% compared to the first quarter of 2012, to $242,433.</span></p> <p><span style="font-size: 1em; line-height: 1.5em;">The total number of loans declined 2.4% over the quarter but increased 1.6% compared to the March quarter 2012, to 5,973. The average loan fell 1.7% over the quarter to $261,971; this is 5.0% higher than the figure last year. &nbsp;&nbsp;</span></p> http://www.reisa.com.au/news/housing-affordability-first-quarter-report http://www.reisa.com.au/news/housing-affordability-first-quarter-report 10th Jul 13 South Australia Sales – First Quarter Report <p>Adelaide&rsquo;s median house price decreased by 1.3% compared to the revised figure for the previous quarter, to $395,000. Compared to the same quarter of last year, the figure increased 3.4%.</p> <p><span style="line-height: 1.5em; font-size: 1em">Inner suburbs of Adelaide contributed to the quarterly drop with the median house price declining 0.9%. During the first quarter of 2013, median house prices remained unchanged in Middle Adelaide, while outer suburbs recorded increases. Mount </span>Gambier<span style="line-height: 1.5em; font-size: 1em"> recorded the largest drop, down by 5.3%.</span></p> <p><span style="line-height: 1.5em; font-size: 1em">Compared to the March quarter 2012, inner suburbs of Adelaide recorded to only decrease in house prices in the metropolitan area. Median house prices in Mount Gambier and the Riverland decreased 9.1% and 7.1% respectively compared to the same quarter of last year.</span></p> <p><span style="line-height: 1.5em; font-size: 1em">The median price for other dwellings in Adelaide decreased 2.3% over the quarter and 1.6% compared to the March quarter 2012, to $300,000.</span></p> <p><span style="line-height: 1.5em; font-size: 1em">Mount Gambier recorded the largest decrease with the median other dwellings prices declining 10.6% over the quarter and 17.3% compared to the same quarter of 2012.</span></p> <p><span style="line-height: 1.5em; font-size: 1em"><a href="http://www.reisa.com.au/publicinfo/latest-market-update" target="_blank">Click here</a> to view the Sales Market Update for the First Quarter 2013.</span></p> http://www.reisa.com.au/news/south-australia-sales-first-quarter-report http://www.reisa.com.au/news/south-australia-sales-first-quarter-report 10th Jul 13 South Australia Rents – First Quarter Report <p>The median weekly rent for the three bedroom houses in Adelaide increased 3.1% over the March quarter and 1.5% compared to the figure last year, to $330.</p> <p><span style="font-size: 1em; line-height: 1.5em;">Increases were recorded throughout the state with the exception of four bedroom houses in Middle Adelaide and two bedroom houses in Port Lincoln. The largest was recorded in the </span>Riverland<span style="font-size: 1em; line-height: 1.5em;"> where the median house rent for three bedroom houses rose by 13.5%</span></p> <p><span style="font-size: 1em; line-height: 1.5em;">Compared to the March quarter 2012, four bedroom houses in Mount </span>Gambier<span style="font-size: 1em; line-height: 1.5em;"> and two bedroom houses in Port Lincoln were the only categories to record falls in median rents. Down by 6.3% and 4.2% respectively.</span></p> <p><span style="font-size: 1em; line-height: 1.5em;">Adelaide&rsquo;s median rent for two bedroom other dwellings increased 3.7% over quarter and 1.8% compared to the March quarter of 2012, to $280 per week.</span></p> <p><span style="font-size: 1em; line-height: 1.5em;">Over the quarter, there was no decline recorded for the other swellings rent in any zone of the capital city. The median rent for one bedroom other dwellings in the Riverland rose 31.9% over the quarter and 40.9% compared to the March quarter 2012.</span></p> <p><span style="font-size: 1em; line-height: 1.5em;">Over the quarter, the vacancy rate in Adelaide fell 1 Percentage point to 3.0%</span></p> <p><span style="font-size: 1em; line-height: 1.5em;"><a href="http://www.reisa.com.au/publicinfo/latest-market-update">Click here</a> to view the Rental Market Update for the First Quarter 2013.&nbsp;</span></p> http://www.reisa.com.au/news/south-australia-rents-first-quarter-report http://www.reisa.com.au/news/south-australia-rents-first-quarter-report 10th Jul 13 Who is the typical tenant? <p>A recent study by Realestate.com has looked into statistics and figures on who the typical Australian tenant is - and has come out with some interesting results.<br /> <br /> The tenant is most likely to be female, aged between 35 and 49, earning an income in excess of $50,000 and is looking for properties more than $300 per week.<br /> <br /> If you&#39;re wondering where all the men are, the site says that if they&#39;re from a high-income family, then it&#39;s likely that they are still living in the family home with their parents, as less than 30 per cent of those looking to rent were male.<br /> <br /> Leaving home later in life is a trend that both realestate.com and the census data can confirm, with only 17 per cent of all those looking to rent being aged under 25.<br /> <br /> Even though it&#39;s a &#39;tenants&#39; market&#39; in most Australian regions, survey respondents from high-income households were more likely to stay at home due to the ease of lifestyle.<br /> <br /> Although, it seems as though the typical tenant is also highly reliable, as national sales manager for Realestate.com, Arthur Charlaftis, explained.<br /> <br /> &quot;Eighty per cent of surveyed tenants said they looked after their rental property the same way they would their own home, and 92 per cent said they always pay their rent on time,&quot; he said.<br /> <br /> Meanwhile, head of property investment and management at LJ Hooker Amy Sanderson debunked a myth for would-be tenants.<br /> <br /> &quot;In order to secure a property you need to stand out from the crowd. Despite popular belief, the highest earner won&#39;t always get the lease.</p> <p>&quot;Landlords are after reliable tenants who they believe will look after their property, so present yourself well, and make sure your application is filled out perfectly.&quot;</p> http://www.reisa.com.au/news/who-is-the-typical-tenant http://www.reisa.com.au/news/who-is-the-typical-tenant 10th Jul 13 Improve Your Property Management Skills <p>Property management is an integral part of the real estate industry, and having the right skills in this area can go a long way towards ensuring a successful tenant relationship.</p> <p>As you may well know, tenancies do not always proceed as smoothly as you would like - and when conflicts and issues occur, the value of training in property management can really come into play.</p> <p>Whether or not you are experienced in property management, the learning process is continual. There are plenty of opportunities to improve your skills and knowledge in this area for the benefit of your agency and your clients.</p> <p>If you&#39;re considering whether specialising in property management is the right path for you, here are a few things to consider.</p> <p><strong>Useful information and personal requirements</strong></p> <p>There&#39;s no set guidelines on what does or does not make a good property manager, but as a general rule of thumb it&#39;s an advantage to have good communication and people skills, as well as being organised, flexible and reliable.</p> <p>Property managers have to deal with a lot of the day to day issues that can occur during a tenancy, so you may need to think on your feet and put your negotiation and listening skills to good use.</p> <p>There are also financial and legal aspects to keep in mind, as property managers need to be proactive and up to date with any paperwork concerning a property such as bond lodgement forms and tenancy agreements.</p> <p>De<strong>veloping your skills</strong></p> <p>If you would like a refresher on a particular area of property management or an opportunity to expand your skills in this area, professional development courses are a great avenue for practical learning.</p> <p>REISA offer a variety of specialised property management courses and sessions so you can tailor your learning, whether you&#39;re looking to keep up with property reforms and essential services or improve your trust accounting skills. <a href="http://www.reisa.com.au/training/property-management-3" target="_blank">Click here </a>for further information.</p> http://www.reisa.com.au/news/improve-your-property-management-skills http://www.reisa.com.au/news/improve-your-property-management-skills 10th Jul 13 Make Sure You Are Compliant <p>The roadshow on training agents and sales representatives on the legislative changes to property sales and management was a huge success.&nbsp; Thank you to all those who attended.</p> <p>REISA expects the new laws to commence in a few months.</p> <p>However, REISA wants to emphasise that all agents must ensure that their businesses are compliant with the laws as they are now and prepare for the laws to come.</p> <p>As REISA advised you repeatedly at the sessions, there will be a lot more money for Consumer and Business Services to undertake compliance activities and prosecutions once the legislation has passed.&nbsp; There will be a lot more white cars.&nbsp; There will be a lot more audits.&nbsp;&nbsp; There will be a lot more authorised officers on the ground &ndash; at open inspections, at auctions and in your business.</p> <p>You must also remember that there will be a new category of offences &ndash; those that are prescribed.</p> <p>These offences relate to price representations, s24G applications and false and misleading representations.&nbsp; If you are found guilty of one of these, there goes your livelihood.&nbsp; You are out of the business.&nbsp; And you will be disqualified from getting back in.</p> <p>And make no mistake &ndash; the Government is looking to make an example of an agent who is doing the wrong thing.&nbsp; Don&rsquo;t be that agent!</p> <p>In particular REISA wants you to ensure that:</p> <ul><li>You are only acting for vendors under a current sales agency agreement.</li> <li>You undertake the correct s24G processes if you wish to gain a beneficial interest in land or business that you are authorised to sell.</li> <li>You give price representations, either verbally or in writing, that are compliant with the prescribed minimum advertising requirements.</li> <li>You do not disclose details of previous offers to prospective purchasers.</li> </ul> <p>These will be hot button issues that the Government will seize on when the new legislation commences.</p> <p>They may not have had the resources to fully investigate these issues before.</p> <p>Now they will.</p> <p>It&rsquo;s time to make sure you are compliant.</p> http://www.reisa.com.au/news/make-sure-you-are-compliant http://www.reisa.com.au/news/make-sure-you-are-compliant 10th Jul 13 REIA Supports A Reduction In Red Tape For Small Business <p>The Real Estate Institute of Australia (REIA) is pleased to see the Coalition&rsquo;s Policy to Boost Productivity and Reduce Regulation identifies measures that will reduce the red tape burden and lift productivity for small business.</p> <p>REIA President, Mr Peter Bushby says, &quot;The commitment to implement an option to send compulsory superannuation payments on behalf of employees to the Australian Taxation Office is a sensible move.&quot;</p> <p>&quot;The Coalition&rsquo;s announcement that the Commonwealth would administer Paid Parental Leave payments is also most welcome.&quot;</p> <p>&quot;Reducing regulation boosts productivity and is a positive step towards lowering the cost of conducting business.&quot;</p> <p>&quot;REIA&rsquo;s submission to the Coalition&rsquo;s Red Tape Reduction Taskforce recommended these policies.&quot;</p> <p>&quot;We are thrilled by commitments that the administration of Paid Parental Leave (PPL) payments will be transferred from business to the Commonwealth and small business be allowed to transfer compulsory superannuation payments made on behalf of workers directly to the Australian Taxation Office.&quot;</p> <p>&quot;The PPL scheme currently poses a disproportionate administrative burden in terms of time and costs on small businesses.&quot;</p> <p>&quot;Administering payments, maintaining records, meeting compliance and reporting requirements and undergoing the appropriate system upgrades are a hassle for our members and small businesses around Australia.&quot;</p> <p>&quot;The administration of superannuation payments similarly places additional costs on small business when it is easier and more efficient to bundle these up with PAYG payments to the ATO.&quot;</p> <p>&quot;As a small business owner myself, I know that we have better things to be doing with our Sundays than being unpaid tax collectors for the Government. We will welcome the extra time to spend with our families and friends and catching up on jobs around the house,&quot; concluded Mr Bushby.</p> http://www.reisa.com.au/news/reia-supports-a-reduction-in-red-tape-for-small-business http://www.reisa.com.au/news/reia-supports-a-reduction-in-red-tape-for-small-business 8th Jul 13 Bureaucrats Continue To Ignore Small Business <p>The Real Estate Institute of Australia (REIA) is bitterly disappointed that a decision on national licensing for the property profession is being driven by a deadline to suit bureaucrats rather than a desire to make the most informed decision.</p> <p>REIA President, Mr Peter Bushby says, &quot;In April of this year, we were told that the Council of Australian Governments (COAG) had agreed to a request for state-based consultation on the yet to be released Decision Regulatory Impact Statement (DRIS), to better inform decision-makers of stakeholders&rsquo; views.&quot;</p> <p>&quot;COAG acknowledged that the views of stakeholders were integral and would be taken into consideration in the decisions made. We were told that the consultation would be objective and would be carried out over a three month period.&quot;</p> <p>&quot;Because of delays in the completion of the DRIS, we are now told by the National Occupational Licensing Authority (NOLA) that the consultation period will be less than half what was initially promised! The consultation is to be completed by the end of August yet the DRIS has not yet been released.&quot;</p> <p>&quot;This is utterly unacceptable.&quot;</p> <p>&quot;We are asking the states and territories to provide a three month period of face-to-face consultation with stakeholders. To do so will not interfere with COAG&rsquo;s intent to have a decision at the Standing Council on Federal Financial Relations (SCFFR) meeting in November.&quot;</p> <p>&quot;The decisions made in the coming months will have a lasting impact on the standards of the profession and on consumer protection. These are not decisions to be rushed,&quot; concluded Mr Bushby.</p> <p>REIA wants a national licensing system which requires real estate agents to achieve a diploma level for licensing, requires compulsory continuing professional development and requires licensing for commercial agency work.</p> <p>REIA also wants real estate to be moved to the second tranche of national licensing with the other property occupations.</p> http://www.reisa.com.au/news/bureaucrats-continue-to-ignore-small-business http://www.reisa.com.au/news/bureaucrats-continue-to-ignore-small-business 3rd Jul 13 REISA Announces New Partnership... Carters Asbestos Management <p>REISA is pleased to announce a new Sponsorship with the team at Carters Asbestos Management.</p> <p>Carters Asbestos Management is a dynamic and responsive South Australian business providing quality asbestos identification, management and consultancy services for over 22 years nationally in the public and private sectors.</p> <p>Their core business is to assist clients maintain their Workplace Health and Safety compliance and minimise their risk, thus reducing possible harm to people from the effects of exposure to asbestos in the workplace.<br /> <br /> Carters have a team of dedicated and highly qualified people who can assist with the identification, assessment, advice, management, repair or removal of any asbestos containing materials. Managing Director Rob Strong says,</p> <p>&ldquo;Carters are looking forward to this exciting opportunity to further expand our strong relationship with REISA to be able to promote asbestos awareness, asbestos education and asbestos compliance amongst REISA members and their clients&rdquo;.<br /> <br /> Carters have been providing compliance advice to REISA for over 3 years and serving many of its members for a number of years. We take this opportunity to warmly welcome the team from Carters as an official sponsor of REISA.</p> http://www.reisa.com.au/news/reisa-announces-new-partnership-carters-asbestos-management http://www.reisa.com.au/news/reisa-announces-new-partnership-carters-asbestos-management 3rd Jul 13 Gearing up for the 2013 Australasian Auctioneering Championships <p>South Australian Golden Gavel winner Lindsay Warner and runner up Jarad Henry can definitely talk the talk but can they walk the walk in the Real Estate Institutes&rsquo; Australasian Auctioneering Championships being held in Perth September 2013?</p> <p>REISA was proud to host the &ldquo;Champs&rdquo; in 2012 and has now officially handed over the gavel to REIWA. The gorgeous city of Perth will be the next host and they are working hard behind the scenes to surprise and delight the auction community.</p> <p>Each year, 16 of the most skilled auctioneers across Australia and New Zealand compete in a fierce battle of words, numbers and showmanship. The auctioneering championships test an auctioneer&rsquo;s skill level, ability to command a crowd, ability to control a bidding sequence and overall presentation and style.</p> <p>2012 winner Daniel Coulson from New Zealand was cool, suave and humorous in delivery and critically on target with his numbers every time.</p> <p>South Australian head judge Brett Roenfeldt was blown away by Daniel&rsquo;s performance.</p> <p>&ldquo;To see Daniel excelling so early in his career at just 22, shows how incredibly focused, determined and professional he is.&rdquo;</p> <p>Greg Troughton, Chief Executive Officer of REISA, said that the Australasian Auctioneering Championships are important way to recognise those practitioners who go that extra mile to perfect their craft.</p> <p>&nbsp;&ldquo;These championships are the pinnacle for auctioneers in Australia and New Zealand and it really demonstrates how professional real estate is,&rdquo; he said.</p> <p>&ldquo;REISA and its membership wish both Lindsay and Jarad the very best of luck in September. It will be a fantastic experience for both of them.&rdquo;</p> <p>REIWA&#39;s annual Sales Conference is coinciding with the 2013 Australasian Auctioneering Championships. Delegates of the Championships are welcome to participate in the Conference. The Program of events is now available at;</p> <p><a href="http://auctionchampionships.com.au/Program.aspx">http://auctionchampionships.com.au/Program.aspx</a></p> http://www.reisa.com.au/news/gearing-up-for-the-2013-australasian-auctioneering-championships http://www.reisa.com.au/news/gearing-up-for-the-2013-australasian-auctioneering-championships 3rd Jul 13 Housing sector remains in a holding pattern <p>South Australian homeowners will be disappointed at the news that the official cash interest rate has been left unchanged at 2.75% during today&rsquo;s Reserve Bank board meeting according to the Real Estate Institute of South Australia (REISA).<br /> <br /> REISA President, Mr Greg Moulton, said that a cut in the interest rate would have been warmly welcomed by the housing sector to stimulate a much needed boost in the market and help to reinvigorate consumer confidence.</p> <p>&ldquo;While interest rate cuts over the past 12 months have been welcome, we continue to see buyers and investors in a holding pattern&rdquo; he said.</p> <p>&ldquo;Last month&rsquo;s cut saw a slight boost in confidence in the property market, but generally there is still a great deal of uncertainty.&rdquo;</p> <p>Mr Moulton also said that the Reserve Bank should consider lowering rates later this year if the right conditions prevail.</p> <p>&ldquo;With the help of a steady interest rate, housing affordability may start to improve so that more people can achieve their dream of owning a home.&rdquo; Mr Moulton said.</p> <p>Addressing home affordability issues, Mr Moulton said that all levels of Government must play their part.</p> <p>&ldquo;It&rsquo;s been a week of transformation and Government now has a responsibility to get back to the job at hand. Let&rsquo;s hope this includes a conversation about lessening the burden of property tax for South Australian home owners and investors.&rdquo;</p> http://www.reisa.com.au/news/housing-sector-remains-in-a-holding-pattern http://www.reisa.com.au/news/housing-sector-remains-in-a-holding-pattern 2nd Jul 13 Be your own boss: Starting your own agency <p>If you love being in the business of real estate, then starting up your own real estate agency could be the next step in your property career.</p> <p>There are many rewarding aspects to running your own agency - you get to be your own boss, you can have greater control over the locations and areas you want to focus on and you can still work closely with people to help them find their dream homes.</p> <p>If you&#39;re wondering what steps you need to take to move your real estate career to the next level, here are a few things to keep in mind.</p> <p><strong>Legal requirements</strong></p> <p>Firstly, in order to run your own real estate agency in South Australia, you&#39;ll need to ensure that you have the necessary legal documents, licences and registrations in place - to find out which are applicable for your situation, get in touch with the knowledgeable staff from the Real Estate Institute of South Australia (REISA).</p> <p>You&#39;ll also need to be up to date on the relevant legislation surrounding buying and selling real estate, property management, leasing, and more.</p> <p><strong>A point of difference</strong></p> <p>The real estate business can be very competitive, so it&#39;s important to highlight your strengths and your own unique selling points (USPs), to differentiate you from other similar agencies and give you an edge.</p> <p>Whether it&#39;s unparalleled local knowledge of the property market in your area, a personalised approach to customer service or great communication skills, identify what your USP is and apply this to starting up your own real estate agency.</p> <p><strong>Getting off to a great start</strong></p> <p>To get your agency up and running, it&#39;s important to make sure you lay the foundations for success early on.</p> <p>REISA offers a nationally accredited Diploma of Property Services (Agency Management) which is funded through the South Australian government&#39;s &#39;Skills for All&#39; initiative.</p> <p>The diploma offers everything you need to know to set up your own real estate agency in South Australia, and you even have the option of studying online for greater flexibility.</p> <p>It&#39;s important to get your agency off to a great start, so take advantage of the opportunity to participate in training courses that set the benchmark for real estate practice.</p> http://www.reisa.com.au/news/be-your-own-boss-starting-your-own-agency http://www.reisa.com.au/news/be-your-own-boss-starting-your-own-agency 2nd Jul 13 Rates on Track <p>The Real Estate Institute of Australia (REIA) says while interest rate cuts over the past 12 months have been most welcome, today&rsquo;s Reserve Bank of Australia (RBA) decision to leave the cash rate on hold has left room for further cuts later on.</p> <p>&quot;REIA was pleased the RBA cut rates to a historically low figure in May, but we didn&rsquo;t expect it to ease monetary policy further today,&quot; says REIA President Mr Peter Bushby.</p> <p>In May, the RBA cut the cash rate to 2.75%. The standard variable interest rate now sits at 5.9%, 0.3 percentage points lower than the level recorded three months ago.</p> <p>&quot;The market has been reacting positively on the recent cash rate cuts. The first quarter of 2013 had the seventh consecutive improvement in housing affordability.&quot;</p> <p>&quot;As published in the Adelaide Bank / REIA Housing Affordability Report, the proportion of income required to meet loan repayments decreased 0.5 percentage points to 29.9%.&quot;</p> <p>Mr Bushby noted that declines in mortgage rates stimulated demand from investors and non-first home buyers. The challenge is to entice first home buyers to get a toe-hold in the market.</p> <p>&quot;Auction results are improving in strength, while increases in housing finance commitments and building activity are also positive,&quot; concluded Mr Bushby.</p> <p>The Bendigo Bank / REIA Real Estate Market Facts report for the first quarter of 2013 shows that property prices are higher than they were last year and consumer confidence is building.</p> http://www.reisa.com.au/news/rates-on-track http://www.reisa.com.au/news/rates-on-track 28th Jun 13 REISA Leads the Way <p>Training on the new legislative changes for property sales and management is almost complete.</p> <p>Nine sessions have already been held throughout South Australia with a further&nbsp;two scheduled for&nbsp;Mt Gambier and Kangaroo Island.</p> <p>Over 1,000 real estate professionals would have attended the training at its conclusion which is a testament to our industry wanting to remain up to date and informed.</p> <p>Greg Troughton, Ray Brincat and new REISA recruit, Paul Edwards have travelled far and wide to spread the message, answer questions and to let everyone know the role that REISA will play in making sure everyone understands that these new changes are coming.</p> <p>However, despite them being several months away, REISA is of the view that forewarned is forearmed.&nbsp; Early training will give you the opportunity to consider your business practices, develop scripts and start talking to your colleagues about how you will go about putting these changes into effect.</p> <p>And don&rsquo;t worry &ndash; REISA will be with you every step of the way.</p> <p>We will develop templates, fact sheets, and hold further training sessions.&nbsp; You will be kept in the loop.&nbsp; And if you have any questions about the changes, please email them to reisa@reisa.com.au.</p> <p>We are currently working on our submission to the Regulations and are quietly confident that we will achieve some big changes which will make your lives a whole lot easier.</p> <p>We look forward to working with Government to make sure that the views of our members are represented at every level.</p> http://www.reisa.com.au/news/reisa-leads-the-way http://www.reisa.com.au/news/reisa-leads-the-way 26th Jun 13 REIA Expands Business and Collaborative Ties With US Partner <p>The Real Estate Institute of Australia (REIA) has strengthened its relationship with its US counterpart, the National Association of Realtors (NAR), following the appointment of Presidential Liaisons by both organisations.</p> <p>REIA President, Mr Peter Bushby says, &quot;NAR is America&rsquo;s largest trade organisation with over a million members and the relationship with REIA is held in high regard.&quot;</p> <p>&quot;Recently NAR provided support to us by supplying data for REIA to present to the Federal Government. The data helps REIA&rsquo;s position regarding improving education standards within national licensing.&quot;</p> <p>&quot;In a growing global economy, such relationships need to be more than just formal agreements. We must move to new levels of collaboration and support,&quot; added Mr Bushby.</p> <p>Mr Michael Wellsmore, a well-respected Canberra-based real estate agent, has been appointed the REIA Presidential Liaison to NAR and Mr Steve Goddard from Los Angeles, California is the NAR Presidential Liaison to REIA.</p> <p>Canberra based, Mr Wellsmore started his career in his family&rsquo;s real estate agency in 1970. He has worked across most facets of the industry including residential, commercial and project development and is former President of the Real Estate Institute of the ACT. He is a regular visitor to the US and is a Member of the Australian American Association.</p> <p>Mr Goddard began his real estate career 35 years ago, specialising in selling and leasing residential real estate, residential income properties, and commercial buildings. He is a former President of the Californian Association of Realtors and serves on the NAR national board.</p> <p>&quot;Steve and the team at NAR have a very good understanding of Australia,&quot; says Mr Wellsmore. &quot;Steve has an Australian son in law and that definitely helps bridge our communications.&quot;</p> <p>&quot;For REIA members, I see terrific opportunity to take advantage of the up-skilling, education programs that NAR has. And there are areas of agency practice here in Australia, in particular auctions, which US Realtors are very interested in.&quot;</p> <p>Mr Wellsmore is currently working with agents here in Australia preparing presentations on the conduct of Australian auctions at the NAR national conference in San Francisco in November.</p> <p>For details on the 2013 NAR Realtors Conference &amp; Expo, visit <a href="http://www.realtor.org/convention.nsf/">http://www.realtor.org/convention.nsf/</a></p> http://www.reisa.com.au/news/reia-expands-business-and-collaborative-ties-with-us-partner http://www.reisa.com.au/news/reia-expands-business-and-collaborative-ties-with-us-partner 26th Jun 13 NSW Auctioneers take their place once again in the Australasian Champs <p>The Australasian Real Estate Institutes&rsquo; Auctioneering Championships, representing the most professional and skilled auctioneers that Australia and New Zealand have to offer held its New South Wales heat at the Novotel Hotel Sydney Olympic Park.</p> <p>The NSW Heat was contested by fifteen of the state&rsquo;s leading Auctioneers all competing to progress onto the National championships to join contestants from around Australia &amp; New Zealand at the final event which is being held at Crown Perth on the 23rd-25th of September.</p> <p>One of the judges today Scott Kennedy-Green was the last NSW contestant to take out the Australasian Championships in 2006. Estate Agents Co-operative Ltd Vice Chairman Peter Carmont said &ldquo;It is about time that NSW took the title again and we look forward to our winner and runner up taking it up to New Zealand which has won the title four times in the last five years.&rdquo;</p> <p>The Real Estate Institute of Australia and Estate Agents Co-operative Ltd, the hosts of the NSW heats, are proud to announce the Winner for the NSW heat is Gavin Croft from Bresic Whitney Estate Agents and would like to congratulate Gavin on his performance.</p> <p>Gavin has 12 years in experience in real estate and is currently the sales manager and auctioneer for the Darlinghurst and Glebe offices.</p> <p>We are also proud to announce and would like to congratulate Edward Riley also from Bresic Whitney Estate Agents who is the Runner Up in today&rsquo;s heat.</p> <p>Both Gavin and Edward will be going through to the finals to be held in Perth where they will compete against auctioneers from the other states and New Zealand.</p> http://www.reisa.com.au/news/nsw-auctioneers-take-their-place-once-again-in-the-australasian-champs http://www.reisa.com.au/news/nsw-auctioneers-take-their-place-once-again-in-the-australasian-champs 24th Jun 13 Housing Needs to be on Election Agenda <p>The Real Estate Institute of Australia (REIA) says that all Australians should have access to affordable and suitable housing.</p> <p>REIA President, Mr Peter Bushby says, &quot;Home ownership is declining after three decades of stable levels and first home buyers are finding it increasingly difficult to enter the housing market.&quot;</p> <p>&quot;REIA&rsquo;s 2013 Election Policies aim to stimulate the national debate and put housing at the centre of the agenda.&quot;</p> <p>&quot;Immediate, concerted action and leadership are required by all governments to meet Australia&rsquo;s housing affordability and supply challenges,&quot; concluded Mr Bushby.</p> <p>REIA&rsquo;s six main election policy topics are:</p> <ul><li>First Home Buyers</li> <li>Taxation Reform</li> <li>Need for a Comprehensive Housing Policy</li> <li>Supply of Housing for Social Housing Tenants Transitioning to Private Rental</li> <li>Banking Ombudsman</li> <li>Industrial Relations</li> </ul> <p>REIA&rsquo;s Election Policy document &quot;Housing for All Australians&quot; is available at www.reia.com.au</p> http://www.reisa.com.au/news/housing-needs-to-be-on-election-agenda http://www.reisa.com.au/news/housing-needs-to-be-on-election-agenda 13th Jun 13 House Price Average Records Slight Drop <p>The March quarter recorded a slight drop in the Australian weighted average median house price for capital cities, largely due to the drag factor of Brisbane, Melbourne and Adelaide, according to the Bendigo Bank/REIA Real Estate Market Facts report.</p> <p>REIA President, Mr Peter Bushby says, &quot;The Australian weighted average median house price for the eight capital cities fell 0.2% to $534,015.&quot;</p> <p>&quot;Sydney, Perth and Darwin recorded increases over the quarter and Sydney continues to have the highest median house price across all capitals at $673,681 &ndash; 26.2% above the weighted average.&quot;</p> <p>&quot;The Brisbane median house price fell 2.3% during the March quarter to $430,000, Melbourne fell 0.9% and Canberra had the biggest drop, down by 8.7%. Hobart remains the capital with the lowest median house price.&quot;</p> <p>&quot;However, compared to the same time last year, the figures are positive as the Australian weighted average median house price rose 4.0% and with the exception of Canberra which fell 7.2%, prices increased in all capital cities,&quot; added Mr Bushby.</p> <p>&quot;Darwin recorded the largest jump for the year, up by 7.6%, while the median house price in Melbourne rose 4.8%.&quot;</p> <p>&quot;The weighted average median price for other dwellings for the eight capital cities also fell by 0.9% over the March quarter to $434,601 but increased 1.7% compared to the March quarter of 2012.&quot;</p> <p>&quot;In the rental market over the quarter, median house rents increased in all capital cities. Compared to the March quarter 2012, Hobart was the only capital to record a fall in median house rents.&quot;</p> <p>&quot;Compared to the same time last year, Darwin and Perth recorded the largest increases in median rents for other dwellings, up by 18.0% and 12.5% respectively.&quot;</p> <p>&quot;Over the March quarter, Sydney and Adelaide recorded decreases in vacancy rates, down 0.1 percentage points for both capitals. With a vacancy rate of 1.8%, Sydney has the tightest rental property market and with a rate of 4.9%, Hobart has the largest oversupply of rental properties,&quot; concluded Mr Bushby.</p> http://www.reisa.com.au/news/house-price-average-records-slight-drop http://www.reisa.com.au/news/house-price-average-records-slight-drop 11th Jun 13 Continuted Improvement in Housing Finance <p>The Real Estate Institute of Australia (REIA) says the latest housing figures released by the Australian Bureau of Statistics (ABS) show that, except for first home buyers, there is a developing trend of increasing housing finance commitments.</p> <p>Housing finance figures for April 2013 show, in trend terms, that the number of owner-occupied finance commitments rose by 1.4 per cent &ndash; on top of the 1.4 per cent total increase for the first three months of 2013.</p> <p>If refinancing is excluded, the increase in trend terms for April is 1.2 per cent and is the fifth consecutive monthly rise.</p> <p>REIA President, Peter Bushby says, &quot;Increases were recorded in all States and Territories except the Northern Territory where the fall was 2.7 per cent. The biggest rise was in NSW, up 2.1 per cent in trend terms.&quot;</p> <p>&quot;Increases were evident for the purchase of established dwellings (up 1.2 per cent in trend terms), the purchase of new dwellings (up 3.5 per cent, in trend terms) and the number of commitments for the construction of new dwellings (up 1.5 per cent, in trend terms),&quot; Mr Bushby continued.</p> <p>&quot;The proportion of first home buyers in the number of owner-occupied housing finance commitments was 14.3 per cent in April compared to the March figure of 14.2 per cent. The proportion remains persistently low compared to the long-run average proportion of 20.1 per cent.&quot;</p> <p>&quot;It&rsquo;s a concern that first home buyers are going against the trend and in large part, this drop can be attributed to some State Governments withdrawing previous levels of support for first home owners buying existing dwellings.&quot;</p> <p>The value of investment housing commitments rose by 1.2 per cent, in trend terms, in April resulting in the eleventh consecutive monthly increase.</p> <p>&quot;It&rsquo;s encouraging to see buyers responding to interest rate cuts and the stronger outlook for housing,&quot;<br /> concluded Mr Bushby.</p> http://www.reisa.com.au/news/continuted-improvement-in-housing-finance http://www.reisa.com.au/news/continuted-improvement-in-housing-finance 5th Jun 13 Housing Affordability Improving but First Home Buyers Disappearing <p>The first quarter of 2013 saw a slight improvement in housing affordability with the proportion of income required to meet loan repayments decreasing 0.5 percentage points to 29.9% according to the Adelaide Bank/Real Estate Institute of Australia (REIA) Housing Affordability Report.</p> <p>REIA President, Mr Peter Bushby says, &quot;Housing affordability has been slowly improving for seven consecutive quarters, with the proportion of income required at its lowest since the December quarter 2009.&quot;</p> <p>&quot;However, the number of new finance commitments to first home buyers dropped 22.5% in the March quarter, a drop of 21.3% compared to the same time last year and first home buyers made up just 14.5% of the owner-occupier market, which is the lowest number since the June quarter 2004.&quot;</p> <p>&quot;South Australia was the only state or territory to record a rise in the number of loans to first home buyers, up by 1.8% while the biggest falls were in Queensland and NSW where the numbers fell 43.2% and 40.6% respectively.&quot;</p> <p>&quot;For the year, Western Australia recorded the largest increase in loans to first home buyers, up by 19.2%,&quot; continued Mr Bushby.</p> <p>&quot;With the exception of Western Australia and Tasmania, all states and territories recorded improvements in affordability over the March 2013 quarter.&quot;</p> <p>&quot;With the proportion of income required to meet loan repayments 12.6 percentage points below the national average, the ACT remained the most affordable state or territory in which to buy a home and despite the country&rsquo;s third largest improvement in housing affordability, NSW remained the least affordable.&quot;</p> <p>&quot;The Northern Territory had the largest improvement in affordability over the year, with the proportion of income required to meet loan repayments, decreasing from 23.5% to 20.3%.&quot;</p> <p>&quot;Victoria recorded an improvement in housing affordability, with the proportion of income required to meet loan repayments falling 0.4 percentage points, to 30.2% but rental affordability declined by 0.5 percentage points to 21.7%,&quot; concluded Mr Bushby.</p> <p>The Adelaide Bank/REIA Housing Affordability Report includes data from all major lending institutions, the Australian Bureau of Statistics (ABS) and Cannex Ltd and is the most authoritative indicator of Australian housing affordability currently available.</p> http://www.reisa.com.au/news/housing-affordability-improving-but-first-home-buyers-disappearing http://www.reisa.com.au/news/housing-affordability-improving-but-first-home-buyers-disappearing 4th Jun 13 Rates on Hold <p>The Real Estate Institute of Australia (REIA) says today&rsquo;s Reserve Bank of Australia (RBA) decision to leave the cash rate on hold was not unexpected.</p> <p>REIA President, Mr Peter Bushby says, &quot;After last month&rsquo;s RBA cash rate cut to a historically low 2.75%, we are not surprised with the results of today&rsquo;s meeting.&quot;</p> <p>&quot;Recent interest rate cuts and improvements in affordability are being converted into more loan commitments and higher auction clearance rates.&quot;</p> <p>&quot;The first quarter of 2013 continued the trend with the proportion of income required to meet loan repayments decreasing 0.5 percentage points to 29.9%.&quot;</p> <p>&quot;This is the best level of housing affordability since the December quarter 2009 and I am pleased that most states and territories recorded improvements.&quot;</p> <p>&quot;Changeover owner-occupiers and investors are already coming back but unfortunately first home buyers are holding off, making up only 14.2% of the owner-occupier market in March 2013.&quot;</p> <p>&quot;Issues such as state governments favouring those first home buyers purchasing new rather than existing dwellings, inefficient state taxes, excessive red tape and land release delays urgently need to be addressed,&quot; Mr Bushby concluded.</p> http://www.reisa.com.au/news/rates-on-hold http://www.reisa.com.au/news/rates-on-hold 28th May 13 NSW Returns to the Australasian Auctioneering Championships <p>The Real Estate Institute of Australia (REIA) President, Mr Peter Bushby, says that the peak association is very pleased to have NSW competing with the rest of Australasia&rsquo;s best auctioneers in 2013.</p> <p>&ldquo;Thanks to Estate Agents Cooperative Ltd (EAC) being a member of REIA&rsquo;s Affiliates&rsquo; Council, we can now welcome back auctioneers from NSW and entries are open for the NSW heat to all eligible licensed NSW auctioneers.&rdquo;<br /> <br /> Please <a href="http://www.reisa.com.au/documents/item/403" target="_blank">click here </a>to download more information</p> http://www.reisa.com.au/news/nsw-returns-to-the-australasian-auctioneering-championships http://www.reisa.com.au/news/nsw-returns-to-the-australasian-auctioneering-championships 22nd May 13 Real Estate is a Profession of Choice <p>According to figures released by the Australian Bureau of Statistics (ABS), working in real estate is a profession of choice for many Australians.</p> <p>Real Estate Institute of Australia (REIA) President, Mr Peter Bushby says, &quot;ABS figures show that in 2006, there were 56,500 real estate agents and in 2011 that number had risen to 64,698 &ndash; an increase of 9%.&quot;</p> <p>&quot;Although the market has been flat for the past few years, the numbers of agents on the ground has remained healthy.&quot;</p> <p>&quot;What we don&rsquo;t want to see is lowering of standards within the real estate profession. Under COAG&rsquo;s proposed national licensing model, entry level and agent licensing levels will drop in the majority of states and territories, resulting in increased consumer risk,&quot; warned Mr Bushby.</p> <p>&quot;Under the national licensing proposal released by the COAG Taskforce in August, commercial and rural real estate will be deregulated meaning unqualified people will be able to assist consumers in these transactions (in many cases, one of the largest transactions they will make in a lifetime),&quot; added Mr Bushby.</p> <p>&quot;Also, under the current national licensing model, ongoing professional development will not be a requirement for licensing, resulting in many practitioners not participating in legislative updates which are pertinent to their area of real estate practice.&quot;</p> <p>&quot;Real estate employs a lot of Australians. You&rsquo;ll find them in every town, every community and consumers deserve to have faith in the qualifications and professionalism of their agents,&quot; concluded Mr Bushby.</p> <p>The figures also show that the number of actively trading businesses in Australia (of which 96% are classified as small) increased by 0.4 per cent between the 2010&ndash;11 and 2011&ndash;12 financial years, with 2,141,280 actively trading businesses in Australia at June 2012.</p> <p>The Rental, Hiring and Real Estate Services make up 10.5% of the total.</p> http://www.reisa.com.au/news/real-estate-is-a-profession-of-choice http://www.reisa.com.au/news/real-estate-is-a-profession-of-choice 15th May 13 REIA Budget Snapshot <h4 style="font-style: italic"><a href="/documents/item/396" target="_blank"><span style="color: #ff0000"><strong>Click here to view the REIA BUDGET 2013-14 Overview</strong></span></a></h4> <p><strong>Budget talking points</strong></p> <p><strong>First home buyers</strong></p> <p>The Budget has called on the jurisdictions to reform inefficient state taxes including stamp duty. This pays lip service to the need for reform and ignores the leadership role that the Commonwealth should be taking. Current arrangements apply.</p> <p><strong>Cap on work related self-education</strong></p> <p>The cap of $2000 per annum on work related self-education expenses penalises workers wishing to maintain the currency of their initial study and qualifications.</p> <p><strong>CGT</strong></p> <p>Ensure better compliance with the foreign resident Capital Gains Tax regime. This will mainly affect new unit developments which currently attract foreign investors, as a developer applies in advance for exemptions.</p> <p><strong>Aged pensioners downsizing trial</strong></p> <p>A pilot for senior Australian home owners who want to downsize to reflect their changed requirements and who will be able to deposit up to $200,000 for 10 years without an impact on their pensions is a positive move.</p> <p>&nbsp;</p> http://www.reisa.com.au/news/reia-budget-snapshot http://www.reisa.com.au/news/reia-budget-snapshot 15th May 13 Budget disappoints first home buyers <p>The Real Estate Institute of Australia (REIA) says the federal Budget has ignored the plight of many young Australians when it comes to housing affordability.</p> <p>REIA President Mr Peter Bushby says, &quot;There&rsquo;s nothing in this Budget for first home buyers. Numbers of first home buyers have plummeted since the First Home Buyer Boost was abolished.&quot;</p> <p>&quot;In May of 2009, 31.4% of all purchasers were first home buyers. The figure from March this year is 14.2%, well below the long term average of 20.2%.&quot;</p> <p>&quot;However, REIA is pleased to see the Government is trialling a program to support age pensioners who want to downsize their homes&quot;.</p> <p>&quot;Under the trial program, eligible pensioners who have lived in their own home for at least 25 years and want to downsize will need to put a minimum of 80% of the excess sale proceeds from the sale of their former home into a special account.&quot;</p> <p>&quot;Those funds will not be counted under the pension income and assets test for up to 10 years or until a withdrawal is made from the account.&quot;</p> <p>&quot;The initiative should lead to better utilisation of existing housing stock.&quot;</p> <p>&quot;However, it is most unfortunate that stamp duty as an impediment to downsizing has again been ignored,&quot; added Mr Bushby.</p> <p>&quot;The Budget has called on the jurisdictions to reform inefficient state taxes including stamp duty. This pays lip service to the need for reform and ignores the leadership role that the Commonwealth should be taking.&quot;</p> <p>&quot;Australians want to own their own homes. They see it as a priority and more needs to be done to assist first home buyers,&quot; concluded Mr Bushby.</p> http://www.reisa.com.au/news/budget-disappoints-first-home-buyers http://www.reisa.com.au/news/budget-disappoints-first-home-buyers 9th May 13 Negative gearing not broken, no need to fix <p>The Real Estate Institute of Australia President, Mr Peter Bushby, says the Government should retain negative gearing for property investment in its current form.</p> <p>&quot;Recent chatter suggesting there are changes in the wind is extremely concerning and would negatively impact on the supply of housing and the level of rents in an already tight rental market,&quot; says Mr Bushby, speaking in the lead up to next week&rsquo;s Federal Budget.</p> <p>&quot;It would adversely affect the most disadvantaged in our community, who are caught in the rental trap while facing a long wait for social housing.&quot;</p> <p>&quot;We need to remember what happened in 1985 when the Hawke Government abolished negative gearing for property, only to bring it back in 1987. During that period rents increased by 57.5% in Sydney, by 38.2% in Perth and by 32.0% in Brisbane.&quot;</p> <p>&quot;It is important to know that the 2010 Henry Review stated that any changes to negative gearing arrangements should only occur after reforms to the supply of housing and to housing assistance,&quot; added Mr Bushby.</p> <p>&quot;Current arrangements, in addressing the supply of rental accommodation, are complementary to the Government&rsquo;s goal of increasing the supply of rental property.&quot;</p> <p>&quot;Negative gearing could be the difference between investing or not in rental housing in a subdued market, as is the case at present. Any tweaking to the current taxation arrangements could tip the balance against property investment.&quot;</p> <p>REIA says the view that negative gearing is only for wealthy investors, is a myth. According to ATO data, around 80% of the total individual taxpayers who claimed a tax deduction for property, earned less than $80k pa.</p> <p>&quot;To amend the current negative gearing provisions for housing would be treating real estate differently to other asset classes, creating a distortion on the investment landscape and resulting in a resource misallocation. It would be a grave mistake,&quot; concluded Mr Bushby.</p> http://www.reisa.com.au/news/negative-gearing-not-broken-no-need-to-fix http://www.reisa.com.au/news/negative-gearing-not-broken-no-need-to-fix 7th May 13 Rate relief welcome by housing sector <p>Homeowners have been given a helping hand this month as the official cash interest rate was slashed at the Reserve Bank board meeting this afternoon, said the Real Estate Institute of South Australia (REISA).</p> <p>REISA President, Mr Greg Moulton, said that today&rsquo;s rate drop was much anticipated and many buyers had been waiting for a fall in the official cash rate before they signed a contract.</p> <p>&ldquo;Times have been tough in the housing market for some time and buyers have been waiting for this downward movement in rates,&rdquo; he said.</p> <p>&ldquo;REISA members across the State are commenting that the housing market is measured and homebuyers, particularly first homebuyers, remain cautious.&rdquo;</p> <p>&ldquo;We are seeing a watchful interest in the housing market with both buyers and sellers genuinely anxious about taking the next step and a cut in interest rates may just be the deciding factor.&rdquo;</p> <p>Mr Moulton said that housing affordability is still in the spotlight and interest rates are always front and centre of the homebuyers decision making.</p> <p>&ldquo;Home affordability is a key issue which is raised with REISA members on a daily basis and monthly mortgage repayments have to be considered by virtually every purchaser, whether they are buying to live in the property, or buying for investment purposes.&rdquo;</p> <p>Mr Moulton also said that the next challenge was to all the major lenders to pass on the rate drop and has urged banks to pass the cut onto Australian households.</p> <p>&ldquo;Banks should follow the lead of the Reserve Bank and pass on the full cut to ensure meaningful relief is felt by Australian households.&rdquo;</p> <p>&ldquo;Bit by bit, we are starting to see indicators that the property market may be strengthening again and today&rsquo;s decision is another driver which will see people return back to the stable investment of bricks and mortar.&rdquo;</p> http://www.reisa.com.au/news/rate-relief-welcome-by-housing-sector-47 http://www.reisa.com.au/news/rate-relief-welcome-by-housing-sector-47 15th Apr 13 Regional housing moving up in new year <p>Regional house prices have started to lift, showing a 4% increase in the median, compared to the same time last year, the Real Estate Institute of South Australia (REISA) said today.</p> <p>Although the market in regional South Australia was patchy, the overall results show that the market is slowly recovering and should be set for a positive movement in 2013.</p> <p>REISA Vice President, Mr Ted Piteo, said that Port Lincoln experienced growth of 13% compared to the same quarter in 2012 and Naracoorte also moved up 2.65% over the same period.</p> <p>&ldquo;Some of the towns where mining has been a focus have slowed in the past few years, and this was to be expected after policy changes, however the long-term opportunities for other industries are still there and we expect these towns will lift in future,&rdquo; Mr Piteo said.</p> <p>More broadly, the quarterly statistics showed that the State median recorded growth of 0.84%, compared to the same quarter last year. The volumes are similar to the December quarter and when data is finalised, it is predicted by REISA, that volumes will be a little stronger than the same time last year, with around 5100 houses changing hands across the State.</p> <p>Commenting on what local agents are seeing in the market place, Mr Piteo said that more people are starting to come out to open inspections and there appears to be a pick-up in the level of interest in buying property.</p> <p>&ldquo;REISA members are telling us that the low interest rates are encouraging people to think about bricks and mortar.&nbsp; Although house prices have not moved considerably in recent times, they haven&rsquo;t moved backwards either, and that is highlighting the stability of property in the longer term,&rdquo; he said.<br /> &nbsp;</p> <table border="1" cellpadding="1" cellspacing="1" style="width: 500px"> <tbody> <tr> <td><strong>Town</strong></td> <td><strong>1 Q 2013</strong></td> <td>&nbsp;</td> <td><strong>Quarter</strong></td> <td><strong>12 month</strong></td> </tr> <tr> <td>&nbsp;</td> <td><strong>Sales</strong></td> <td><strong>Median</strong></td> <td><strong>% Change</strong></td> <td><strong>% Change</strong></td> </tr> <tr> <td>Millicent</td> <td>16</td> <td>178500</td> <td>5.62%</td> <td>-3.51%</td> </tr> <tr> <td>Mount Gambier</td> <td>65</td> <td>218000</td> <td>-5.22%</td> <td>-9.54</td> </tr> <tr> <td>Murray Bridge</td> <td>65</td> <td>235000</td> <td>7.55%</td> <td>-6.00%</td> </tr> <tr> <td>Port Augusta</td> <td>19</td> <td>250000</td> <td>8.70%</td> <td>1.32%</td> </tr> <tr> <td>Port Lincoln</td> <td>39</td> <td>320000</td> <td>0.47%</td> <td>13.07%</td> </tr> <tr> <td>Port Pirie</td> <td>30</td> <td>158500</td> <td>-20.55%</td> <td>-19.75%</td> </tr> <tr> <td>Victor Harbour</td> <td>71</td> <td>341250</td> <td>10.08%</td> <td>-1.52%</td> </tr> <tr> <td>Whyalla</td> <td>50</td> <td>267950</td> <td>-3.44%</td> <td>-4.30%</td> </tr> <tr> <td>Barmera</td> <td>5</td> <td>195000</td> <td>22.64%</td> <td>-6.25%</td> </tr> <tr> <td>Berri</td> <td>16</td> <td>143750</td> <td>-13.92%</td> <td>-36.11%</td> </tr> <tr> <td>Naracoorte</td> <td>17</td> <td>232500</td> <td>11.24%</td> <td>2.65%</td> </tr> <tr> <td>Renmark</td> <td>10</td> <td>152750</td> <td>13.46%</td> <td>-8.53</td> </tr> </tbody> </table> <p>*Towns with low volumes should be aware that statistical variance can occur and median prices should only be used as an indicator of local activity</p> http://www.reisa.com.au/news/regional-housing-moving-up-in-new-year http://www.reisa.com.au/news/regional-housing-moving-up-in-new-year 15th Apr 13 Middle suburbs outperform the pack in latest sales data <p>Suburbs in middle Adelaide have outperformed those in the inner and outer in the latest quarterly sales data, according to the Real Estate Institute of South Australia (REISA).</p> <p>Somerton Park, Henley Beach South and Plympton topped with growth of 19.5%, 19.2% and 17.3% respectively, comparing the March quarter to the same period in 2012.</p> <p>REISA Vice President, Mr Ted Piteo, said that these areas have the right balance of distance to the city and excellent local amenities which makes them attractive to buyers.</p> <p>&ldquo;These suburbs are often found in the top performers, and these suburbs often carry stock with generous sized blocks which is also an attractive feature for buyers.&rdquo;</p> <p>More broadly, the quarterly statistics showed that metropolitan Adelaide recorded growth of 1.96%, compared to the same quarter last year and finished the quarter with a median of $390,000.</p> <p>The volume of sales are similar to the December quarter and when data is finalised over the coming months, it is predicted by REISA that volumes will be a little stronger than the same time last year, with around 3750 houses changing hands in metropolitan Adelaide.</p> <p>Examining the unit and apartment market shows little change over the past 12 months, with the median price moving down to $300,000, down slightly from $305,000 in the corresponding quarter.</p> <p>Commenting on what local agents are seeing in the market place, Mr Piteo said that more people are starting to come out to open inspections and there appears to be a pick-up in the level of interest in buying property.</p> <p>&ldquo;REISA members are telling us that the low interest rates are encouraging people to think about bricks and mortar.&nbsp; Although house prices have not moved considerably in recent times, they haven&rsquo;t moved backwards either, and that is highlighting the stability of property in the longer term,&rdquo; he said.</p> <p>&ldquo;Housing is a medium to long-term investment which has provided long term security for many Australians and REISA is confident the number of sales will continue to slowly rise over the course of 2013.&rdquo;</p> http://www.reisa.com.au/news/middle-suburbs-outperform-the-pack-in-latest-sales-data http://www.reisa.com.au/news/middle-suburbs-outperform-the-pack-in-latest-sales-data 15th Mar 13 SA’s real estate stars recognised as the best of the best <p>Two South Australians were honoured for their incredible achievement and commitment to the real estate profession at the national Real Estate Institute of Australia Awards in Canberra this evening.</p> <p>Mr Simon Winter of Raine and Horne Business Sales won Business Broker of the Year, whilst local marketing experts, Toop&amp;Toop, took to the stage to accept the national Communications Award.</p> <p>Real Estate Institute of South Australia President, Mr Greg Moulton, said that he was delighted to see South Aussies up on the national stage being recognised at this elite level.</p> <p>&ldquo;The work of a real estate practitioner is tough as its long hours, hard work and often emotionally challenging, but the people on stage tonight love what they do, they value their clients and they offer a service which is over and above what people expect.&rdquo;</p> <p>&ldquo;It&rsquo;s great to see them being recognised for this tireless commitment and professionalism.&rdquo;</p> <p>&ldquo;REISA congratulates Simon Winter and Toop&amp;Toop whole heartedly for taking out a national Award, against other very worthy finalist from across Australia.</p> http://www.reisa.com.au/news/sas-real-estate-stars-recognised-as-the-best-of-the-best http://www.reisa.com.au/news/sas-real-estate-stars-recognised-as-the-best-of-the-best 5th Mar 13 Stability in rates felt by housing market <p>The decision to again leave the cash rate unchanged for March is a boost of confidence for the property market as it shows that these lower rates are sustainable and will prevail for some time, according to the Real Estate Institute of South Australia (REISA).</p> <p>REISA President, Mr Greg Moulton, said that the stability of these low rates is starting to stimulate more interest in the property market which is a strong indicator of movement across the State.</p> <p>&ldquo;REISA members are saying that the first two months of the year have started to show some promising signs that housing stock is starting to move and the low interest rates are no doubt an important factor in purchase decisions,&rdquo; he said.</p> <p>&ldquo;Of course a further cut to rates would be welcome, but the reality is, our current interest rate levels are very low and with this expected to continue for some time, people are really starting to turn back to property as an investment decision.&rdquo;</p> <p>&ldquo;After a tough few years, it is good to see a spring in the step of the market a little more. Whilst the recovery won&rsquo;t be overnight, incremental increases in volume is what is needed to boost the market.&rdquo;<br /> &nbsp;</p> http://www.reisa.com.au/news/stability-in-rates-felt-by-housing-market http://www.reisa.com.au/news/stability-in-rates-felt-by-housing-market 14th Feb 13 Rental market vacancies stabilise across the State <p>The rental market has remained relatively stable over the past three months with little change in vacancy rates and median price ranges, according to the Real Estate Institute of South Australia (REISA).</p> <p>Metropolitan Adelaide recorded a vacancy rate of 3.1% for the December quarter, whilst the regional areas recorded a vacancy rate of 3.7%.</p> <p>Releasing the December quarter data, REISA commented that the market has recorded similar vacancies and comments to what we were seeing during 2012, with properties taking 4-6 weeks to lease in many situations, and tenants being particularly price sensitive.</p> <p>&ldquo;Property managers across the State are consistently highlighting that the rental market is responding slower to filling vacancies and tenants are often only responding when the price meets the local market,&rdquo; Mr Moulton said.</p> <p>&ldquo;We&rsquo;ve really seen price be a major factor in tenant&rsquo;s decisions in the past 12 months and as there are slightly more properties available for lease, the tension between vacancy and price has eased.&rdquo;</p> <p>&ldquo;The western suburbs in the metropolitan area are still higher than other areas, and in the regions there has been a noticeable reaction to the slow-down in mining activity around the Upper Spencer Gulf.&rdquo;</p> <p>Reviewing rental median prices shows that little has changed over the past year and quarter. The metropolitan median price for houses in Adelaide is $320 per week, unchanged from the previous quarter and up from $315 twelve months ago. Regionally, the median house price is $250 per week, again unchanged from the September quarter of 2012 and up from $240 twelve months ago.</p> <p>The unit and apartment market has recorded a rental median house price in metropolitan Adelaide of $270 per week and $190 per week in the regional areas.</p> <p>The table below summarises the rental vacancy data for December 2012. Over 21,000 properties were included in the survey.<br /> &nbsp;</p> <table align="left" border="1" cellpadding="1" cellspacing="1" style="width: 250px"> <tbody> <tr> <td> City/ North Adelaide</td> <td> 3.0%</td> </tr> <tr> <td> West</td> <td> 3.7%</td> </tr> <tr> <td> South</td> <td> 2.3%</td> </tr> <tr> <td> East&nbsp;</td> <td> 2.4%</td> </tr> <tr> <td> North</td> <td> 3.7%</td> </tr> <tr> <td> Hills</td> <td> 3.4%</td> </tr> <tr> <td> Eyre Peninsula&nbsp;</td> <td> 5.0%</td> </tr> <tr> <td> Upper Spencer Gulf</td> <td> 3.6%</td> </tr> <tr> <td> Mid North</td> <td> 2.9%</td> </tr> <tr> <td> Fleurieu/Kangaroo Island</td> <td> 3.5%</td> </tr> <tr> <td> South East&nbsp;</td> <td> 4.9%</td> </tr> <tr> <td> <p>Riverland</p> </td> <td> <p>2.1%</p> </td> </tr> <tr> <td> Yorke Peninsula</td> <td> 5.3%</td> </tr> </tbody> </table> http://www.reisa.com.au/news/rental-market-vacancies-stabilise-across-the-state http://www.reisa.com.au/news/rental-market-vacancies-stabilise-across-the-state 11th Feb 13 Real estate body renews calls for stronger consumer protection <p>Real estate professionals have again called for property managers to be licensed in South Australia to ensure that landlords and tenants receive professional and fair treatment when involved in a rental transaction.<br /> <br /> The months of January and February are typically the busiest time of year for property management and with this in mind, the Real Estate Institute of SA (REISA) said that it was the right climate to encourage the State Government to consider the issue of licensing.<br /> <br /> &ldquo;With national licensing for real estate professionals on the agenda, there has been broad agreement that property managers will be licensed, to align with other States and Territories, but REISA wants licensing introduced sooner rather than later, for the benefit of all South Australians,&rdquo; REISA Chief Executive Officer, Mr Greg Troughton said.<br /> <br /> &ldquo;Other States and Territories have long realised that licensing is essential in this area, and we&rsquo;re encouraging the Government to move the decision forward and bring South Australia into line with our interstate counterparts.&rdquo;<br /> <br /> &ldquo;It has to be remembered that property managers have the responsibility of assisting people in securing shelter and conflict needs to be handled with respect, whilst still abiding by the law.&rdquo;<br /> &ldquo;Professional property managers who value quality training and enjoy the challenges of this job strongly support the move to licensing as it&rsquo;s a key to raising professionalism and valuing the role that property managers play in the community in managing hundreds of thousands of tenancies around the State.&rdquo;<br /> &nbsp;</p> http://www.reisa.com.au/news/real-estate-body-renews-calls-for-stronger-consumer-protection http://www.reisa.com.au/news/real-estate-body-renews-calls-for-stronger-consumer-protection 5th Feb 13 Steady start to 2013 <p>Today&rsquo;s decision to leave the official cash rate on hold is no surprise to the property sector after a series of cuts in 2012, according to the Real Estate Institute of SA.</p> <p>REISA President, Mr Greg Moulton, said that the market is slowly starting to record a little more activity after the series of rate reductions over the past six months, so it made sense the Reserve Bank would take the conservative option of leaving rates on hold at their first meeting for 2013.</p> <p>&ldquo;Whilst REISA members are starting to see more faces at the open inspections, the change in market activity is only incremental and the Reserve Bank will need to watch activity carefully and take action in the coming months if economic conditions indicate further cuts are needed,&rdquo; he said.</p> <p>&ldquo;The official cash rate is now just 3% which offers excellent buying opportunities but there still may be a little movement downward later in the year which could stimulate activity further.&rdquo;</p> <p>&ldquo;Job security and stability are important for those wanting to buy property and these factors will also be reviewed by the Reserve Bank as they keep a close eye on inflation and growth.&rdquo;<br /> &nbsp;</p> http://www.reisa.com.au/news/steady-start-to-2013 http://www.reisa.com.au/news/steady-start-to-2013 26th Jan 13 Prominent real estate professional named in Honours list <p>Respected auctioneer and REISA member, Brett Roenfeldt, has been named in the Australia Day Honour&rsquo;s list today, recognising his long-term commitment to real estate over many years.</p> <p>REISA Chief Executive Officer, Mr Greg Troughton, said that he was simply delighted to learn of Mr Roenfeldt&rsquo;s inclusion in the Honours list.</p> <p>&ldquo;To be recognised, at this level, for contribution to the community, is just incredible and the REISA membership congratulate Brett Roenfeldt for his outstanding achievement.&rdquo;</p> <p>&ldquo;Mr Roenfeldt has won both the State and national Award for service to the real estate profession and this Award just takes it one step forward.&rdquo;</p> <p>Mr Roenfeldt&rsquo;s business is as a freelance auctioneer and real estate trainer, however he has worked in nearly every facet of real estate, including sales, property management and real estate marketing.</p> <p>His contribution extends to other community service including service to Concordia College and the wine industry (where his family runs a small boutique winery, Roenfeldt Wines).</p> <p>Brett is one of the most respected real estate identities in South Australia. In recognition of this work, he has received a range of industry awards:</p> <ul><li>2009 National President&rsquo;s Award (Real Estate Institute of Australia)</li> <li>2008 Presidents Sir Robert Torrens Award (Real Estate Institute of South Australia)</li> <li>2005 Inaugural Society of Auctioneers and Appraisers Hall of Fame Winner (in recognition of outstanding service to auction and the real estate profession)<br /> &nbsp;</li> </ul> http://www.reisa.com.au/news/prominent-real-estate-professional-named-in-honours-list http://www.reisa.com.au/news/prominent-real-estate-professional-named-in-honours-list 15th Jan 13 Regional housing market steady moving into 2013 <p>The regional housing market has recorded the same median house price in December 2012, as the same period in 2011, finishing both years with a median of $250,000.</p> <p>Commenting on the release of the official Government settlement data for the December 2012 quarter, the Real Estate Institute of SA (REISA) said that the regional market has been through a tough 12 months, but with little change in the median, and a small increase in the volume, there are positive signs for 2013.</p> <p>REISA President, Mr Greg Moulton, said interest rate rises have started to buoy purchaser interest in the local markets and this will hopefully carry through to 2013.</p> <p>&ldquo;Regional markets often follow the metropolitan buying patterns and we are starting to see slightly increased activity which is important as there is a high level of stock on the market in all areas,&rdquo; he said.</p> <p>&ldquo;Now that interest rates have moved a little further down, there should start to be more momentum to buy which will prompt local markets to recover in 2013.&rdquo;</p> <p>&ldquo;The past few years have been really tough in the regional real estate market and whilst the recovery may be slow, it should start to pick up as people return to the stability of bricks and mortar investment.&rdquo;</p> <p>Analysing local towns shows a high degree of volatility due to relatively small volumes in most towns.</p> <p>&ldquo;The median house price must always be used with caution as it&rsquo;s simply an indicator of what has sold in the local area, rather than an assessment of housing values,&rdquo; Mr Moulton said.</p> <p>&ldquo;Particularly in markets like this, buyers and sellers need to trust their local REISA member to be a source of credible information on the local market.&rdquo;</p> <p>*Individual suburb profiles are available by emailing <a href="mailto:elyse.hearn@reisa.com.au">elyse.hearn@reisa.com.au</a><br /> <br /> &nbsp;</p> <table border="1" cellpadding="1" cellspacing="1" style="width: 200px"> <tbody> <tr> <td style="text-align: center"> <strong>Town</strong></td> <td style="text-align: center"> <strong>4Q 2011<br /> Sales</strong></td> <td style="text-align: center"> <strong>4Q 2011<br /> Median</strong></td> <td style="text-align: center"> <strong>4Q 2012<br /> Sales</strong></td> <td style="text-align: center"> <strong>4Q 2012<br /> Median</strong></td> <td style="text-align: center"> <strong>Quarter<br /> %<br /> Change</strong></td> <td style="text-align: center"> <strong>12 Month<br /> % Change</strong></td> </tr> <tr> <td style="text-align: center"> Millicent</td> <td style="text-align: center"> 17</td> <td style="text-align: center"> 180000</td> <td style="text-align: center"> 17</td> <td style="text-align: center"> 170250</td> <td style="text-align: center"> 36.20</td> <td style="text-align: center"> -5.42</td> </tr> <tr> <td style="text-align: center"> Mount Gambier</td> <td style="text-align: center"> 85</td> <td style="text-align: center"> 245000</td> <td style="text-align: center"> 82</td> <td style="text-align: center"> 230000</td> <td style="text-align: center"> -10.85</td> <td style="text-align: center"> -6.12</td> </tr> <tr> <td style="text-align: center"> Murray Bridge</td> <td style="text-align: center"> 45</td> <td style="text-align: center"> 221500</td> <td style="text-align: center"> 65</td> <td style="text-align: center"> 218500</td> <td style="text-align: center"> -1.69</td> <td style="text-align: center"> -1.35</td> </tr> <tr> <td style="text-align: center"> Port Augusta</td> <td style="text-align: center"> 31</td> <td style="text-align: center"> 172500</td> <td style="text-align: center"> 21</td> <td style="text-align: center"> 215000</td> <td style="text-align: center"> -2.27</td> <td style="text-align: center"> 24.64</td> </tr> <tr> <td style="text-align: center"> Port Lincoln</td> <td style="text-align: center"> 40</td> <td style="text-align: center"> 295000</td> <td style="text-align: center"> 45</td> <td style="text-align: center"> 318500</td> <td style="text-align: center"> 20.19</td> <td style="text-align: center"> 7.97</td> </tr> <tr> <td style="text-align: center"> Port Pirie</td> <td style="text-align: center"> 25</td> <td style="text-align: center"> 180000</td> <td style="text-align: center"> 31</td> <td style="text-align: center"> 182000</td> <td style="text-align: center"> -1.62</td> <td style="text-align: center"> 1.11</td> </tr> <tr> <td style="text-align: center"> Victor Harbor</td> <td style="text-align: center"> 61</td> <td style="text-align: center"> 351250</td> <td style="text-align: center"> 67</td> <td style="text-align: center"> 310000</td> <td style="text-align: center"> -13.89</td> <td style="text-align: center"> -11.74</td> </tr> <tr> <td style="text-align: center"> Whyalla</td> <td style="text-align: center"> 50</td> <td style="text-align: center"> 287500</td> <td style="text-align: center"> 45</td> <td style="text-align: center"> 277500</td> <td style="text-align: center"> 4.72</td> <td style="text-align: center"> -3.48</td> </tr> <tr> <td style="text-align: center"> Barmera</td> <td style="text-align: center"> 7</td> <td style="text-align: center"> 202500</td> <td style="text-align: center"> 10</td> <td style="text-align: center"> 159000</td> <td style="text-align: center"> 22.31</td> <td style="text-align: center"> -21.48</td> </tr> <tr> <td style="text-align: center"> Berri</td> <td style="text-align: center"> 5</td> <td style="text-align: center"> 299000</td> <td style="text-align: center"> 16</td> <td style="text-align: center"> 167000</td> <td style="text-align: center"> -39.27</td> <td style="text-align: center"> -44.15</td> </tr> <tr> <td style="text-align: center"> Naracoorte</td> <td style="text-align: center"> 17</td> <td style="text-align: center"> 174500</td> <td style="text-align: center"> 24</td> <td style="text-align: center"> 195500</td> <td style="text-align: center"> 8.61</td> <td style="text-align: center"> 12.03</td> </tr> <tr> <td style="text-align: center"> Renmark</td> <td style="text-align: center"> 14</td> <td style="text-align: center"> 180000</td> <td style="text-align: center"> 15</td> <td style="text-align: center"> 173250</td> <td style="text-align: center"> -23.85</td> <td style="text-align: center"> -3.75</td> </tr> </tbody> </table> <p><br /> &nbsp;</p> http://www.reisa.com.au/news/regional-housing-market-steady-moving-into-2013 http://www.reisa.com.au/news/regional-housing-market-steady-moving-into-2013 15th Jan 13 Spring in the step of the property market <p>The release of the December quarter housing sale statistics show a spring in the step in the market indicating that the market may be stronger in 2013, according to the Real Estate Institute of SA (REISA).</p> <p>Commenting on the official Government settlements for the last quarter of 2012, REISA President, Mr Greg Moulton, said that the metropolitan median house price rose to $395,000, up 1.28% on the previous 12 month median house price.</p> <p>&ldquo;It&rsquo;s encouraging to see that prices are now starting to move a little and importantly, volume is starting to pick up as well,&rdquo; he said.</p> <p>&ldquo;The rise in transactions points appears to mirror the recent interest rate cuts and there is no doubt that more people have been out and about at open inspections in the past few months.&rdquo;</p> <p>&ldquo;There is still a high level of stock on the market, but this activity bounce is a small indicator that we may be moving into a recovery period which is a welcome sign for the 2013 real estate market.&rdquo;</p> <p>&ldquo;REISA members are saying that the past two years have been very tough, but as a result of falling interest rates and increased confidence, people are starting to come back to open inspections in stronger numbers and we hope these patterns further strengthen in coming months.&rdquo;</p> <p>Suburbs which recorded a sharp rise in the median house price, compared to the December 2011 median, included Munno Para (39%), Tranmere (23%) and St Peters (16%).</p> <p>&ldquo;Whilst these suburbs have seen a rise in the median house price, it&rsquo;s important to remember that these medians only represent a small sample of the houses in the area, and individual house prices will always depend on location, style and features,&rdquo; Mr Moulton said.</p> <p>Home units (and apartments) fell slightly (1.6%) compared to the December 2011 median, finishing 2012 at $305,000. However, volumes were also up on the same time last year, reflecting patterns in the established housing market.<br /> <br /> *Individual suburb profiles are available by emailing <a href="mailto:elyse.hearn@reisa.com.au">elyse.hearn@reisa.com.au</a><br /> <br /> &nbsp;</p> <table border="1" cellpadding="1" cellspacing="1" style="width: 200px"> <tbody> <tr> <td> <strong>Suburb </strong></td> <td> <strong>Sales</strong><br /> &nbsp;</td> <td> <strong>4Q 2011 Median<br /> &nbsp;&nbsp;($)</strong></td> <td> <strong>4Q 2011 Sales</strong><br /> &nbsp;</td> <td> <strong>4Q 2012 Median<br /> &nbsp;&nbsp; ($)</strong></td> <td> <strong>4Q 2012 Median<br /> Change</strong><br /> &nbsp;</td> </tr> <tr> <td style="text-align: center"> MUNNO PARA</td> <td style="text-align: center"> 38</td> <td style="text-align: center"> &nbsp;222,500<br /> &nbsp;</td> <td style="text-align: center"> 20</td> <td style="text-align: center"> 310,000</td> <td style="text-align: center"> 39.33%<br /> &nbsp;</td> </tr> <tr> <td style="text-align: center"> TRANMERE</td> <td style="text-align: center"> 18</td> <td style="text-align: center"> 450,000<br /> &nbsp;</td> <td style="text-align: center"> 10</td> <td style="text-align: center"> 552,500</td> <td style="text-align: center"> 22.78%<br /> &nbsp;</td> </tr> <tr> <td style="text-align: center"> ST.PETERS</td> <td style="text-align: center"> 10</td> <td style="text-align: center"> 972,500<br /> &nbsp;</td> <td style="text-align: center"> 15</td> <td style="text-align: center"> 1,132,500</td> <td style="text-align: center"> 16.45%<br /> &nbsp;</td> </tr> <tr> <td style="text-align: center"> LARGS BAY</td> <td style="text-align: center"> 12</td> <td style="text-align: center"> 488,000<br /> &nbsp;</td> <td style="text-align: center"> 11</td> <td style="text-align: center"> 560,000</td> <td style="text-align: center"> 14.75%<br /> &nbsp;</td> </tr> <tr> <td style="text-align: center"> WEST BEACH</td> <td style="text-align: center"> 12</td> <td style="text-align: center"> 535,000<br /> &nbsp;</td> <td style="text-align: center"> 19</td> <td style="text-align: center"> 606,000</td> <td style="text-align: center"> 13.27%<br /> &nbsp;</td> </tr> <tr> <td style="text-align: center"> ATHELSTONE</td> <td style="text-align: center"> 20</td> <td style="text-align: center"> 410,000<br /> &nbsp;</td> <td style="text-align: center"> 22</td> <td style="text-align: center"> 461,000</td> <td style="text-align: center"> 12.44%<br /> &nbsp;</td> </tr> <tr> <td style="text-align: center"> GLENGOWRIE</td> <td style="text-align: center"> 12</td> <td style="text-align: center"> 490,000<br /> &nbsp;</td> <td style="text-align: center"> 20</td> <td style="text-align: center"> 550,000</td> <td style="text-align: center"> 12.24%<br /> &nbsp;</td> </tr> <tr> <td style="text-align: center"> SOUTH PLYMPTON</td> <td style="text-align: center"> 17</td> <td style="text-align: center"> 403,750<br /> &nbsp;</td> <td style="text-align: center"> 12</td> <td style="text-align: center"> 450,000</td> <td style="text-align: center"> 11.46%<br /> &nbsp;</td> </tr> <tr> <td style="text-align: center"> STIRLING</td> <td style="text-align: center"> 12</td> <td style="text-align: center"> 550,000<br /> &nbsp;</td> <td style="text-align: center"> 10</td> <td style="text-align: center"> 610,000</td> <td style="text-align: center"> 10.91%<br /> &nbsp;</td> </tr> <tr> <td style="text-align: center"> SELLICKS BEACH</td> <td style="text-align: center"> 12<br /> &nbsp;</td> <td style="text-align: center"> 248,820<br /> &nbsp;</td> <td style="text-align: center"> 19</td> <td style="text-align: center"> 275,000</td> <td style="text-align: center"> 10.52%<br /> &nbsp;</td> </tr> </tbody> </table> <p><br /> &nbsp;</p> http://www.reisa.com.au/news/spring-in-the-step-of-the-property-market http://www.reisa.com.au/news/spring-in-the-step-of-the-property-market 20th Dec 12 Tax on car park spaces the thin edge of the wedge <p>The State Government&rsquo;s decision to tax car park owners in the city area is the thin of the wedge and another cost impost to property investors, the Real Estate Institute of SA (REISA) said today.</p> <p>Commenting on the State Government decision to tax car park spaces ($750 a year per park), in the mid-year 2012-2013 budget review, REISA said they were surprised that again, property seemed to be the target of taxation increases.</p> <p>&ldquo;Already, property taxation accounts for about a third of State Government revenue, generated from the State, so now, this will be another tax and sting for those thinking about property investment,&rdquo; REISA CEO, Greg Troughton said.</p> <p>&ldquo;What must be remembered is that everyone pays the burden of this tax increase as investors seek to level their inputs with income and it will no doubt mean a further increase on parking charges, which have already risen considerably in recent times.&rdquo;</p> <p>&ldquo;Today&rsquo;s mid-year budget numbers show that income from the property market is down on estimates, so it seems surprising that the State Government is again taxing this area. The property sector needs to a boost, not another tax impost.&rdquo;</p> <p>Looking to the next State election, there is a momentum to look more broadly and the way the State generates and manages taxation and the real estate sector is very keen to engage in this debate. In late 2012, twelve industry organisations including the Property Council of Australia, Australian Institute of Conveyancers and Urban Development Institute of Australia joined together to highlight the heavy burden that the property sector bears in raising State revenue.</p> <ul> <li>1 in 10 South Australians are employed in a property related sector</li> <li>Property is the biggest contributor to the State&rsquo;s economy</li> <li>The property sector contributed a whopping $1.6b to State coffers in 2011-2012<br /> &nbsp;</li> </ul> http://www.reisa.com.au/news/tax-on-car-park-spaces-the-thin-edge-of-the-wedge http://www.reisa.com.au/news/tax-on-car-park-spaces-the-thin-edge-of-the-wedge 4th Dec 12 Christmas cheer in RBA decision <p>Homebuyers will welcome the Christmas message from the Reserve Bank today which will see the official interest rate cut by 25 basis points, according to the Real Estate Institute of South Australia (REISA).</p> <p>Welcoming the decision, REISA President, Mr Greg Moulton, said that the decision to drop the official cash rate before Christmas was expected by the market and would be welcomed by those who are considering purchase or are already working hard to pay off a mortgage.</p> <p>&ldquo;The housing market has been flat recently, and any changes to improve the market, such as a drop in interest rates, are important to entice people to sign a contract and buy before the year is out,&rdquo; Mr Moulton said.</p> <p>&ldquo;Bit by bit, these small rate cuts over the past 12 months have started to attract people back to buying property so we are confident that today&rsquo;s cut will have an impact on the market.&rdquo;</p> <p>Commenting on the outlook for 2013, Mr Moulton said that the market may lift a little throughout 2013, particularly with the recent rate cuts.</p> <p>&ldquo;Right across the economy, sectors are flat, and this always reflects in the housing market, but gradually, as confidence grows, we expect to see some increased activity in the sales market.&rdquo;<br /> &nbsp;</p> http://www.reisa.com.au/news/christmas-cheer-in-rba-decision http://www.reisa.com.au/news/christmas-cheer-in-rba-decision 9th Nov 12 Rental market vacancies fall in metro Adelaide in September quarter <p>The quarterly vacancy rate for metropolitan Adelaide has fallen to just over 3% in the September quarter, the lowest level in 12 months, according to the Real Estate Institute of South Australia (REISA).</p> <p>Metropolitan Adelaide recorded a vacancy rate of 3.06% for the September quarter, down from 3.91% in June showing strong movement after a flat 12 period in the rental market.</p> <p>Releasing the September quarter data, REISA commented that the market has particularly started to strengthen in the western and southern areas, which were previously recording quite high vacancies.</p> <p>&ldquo;Properties, particularly new developments, were holding the rental vacancy rate a little higher than average in the west and southern metropolitan areas in the past quarters, but some of this stock appears to be moving now, and this has seen the overall vacancy rate drop,&rdquo; Mr Moulton said.</p> <p>&ldquo;REISA members have said that getting the price right to meet the market is one of the most important things when offering property to the market as overpriced rental properties will not attract potential tenants in this marketplace.&rdquo;</p> <p>Commenting on the regional vacancy rate, Mr Moulton said that there had been a slight movement upwards to 4.02% from 3.74% last quarter.</p> <p>&ldquo;The highest vacancies are being recorded on the Fleurieu Peninsula and the Yorke Peninsula, which often happens at this time of year, so this may correct in the warmer summers months.&rdquo;</p> <p>Anaylsing the most recent rental median data shows that prices have moved a little across the State for units. The metropolitan unit rental price has increased by $5 over the past 12 months to $270 per week, whilst in regional areas, there has been a shift upwards of $10 a week to $190.</p> <p>Turning to median house rental prices, metropolitan Adelaide remains unchanged over the past 12 months at $320 per week, whilst the regional median has increase by $10 to $250 per week.</p> <p>The table below summarises the rental vacancy data for September 2012. Over 28,000 properties were included in the survey.</p> <table border="1" cellpadding="1" cellspacing="1" style="width: 200px"> <tbody> <tr> <td> City/ North Adelaide</td> <td> 2.4%</td> </tr> <tr> <td> West</td> <td> 4.1%</td> </tr> <tr> <td> South</td> <td> 2.7%</td> </tr> <tr> <td> East</td> <td> 2.8%</td> </tr> <tr> <td> North</td> <td> 3.2%</td> </tr> <tr> <td> Hills</td> <td> 2.0%</td> </tr> <tr> <td> Eyre Peninsula&nbsp;</td> <td> 3.7%</td> </tr> <tr> <td> Upper Spencer Gulf&nbsp;</td> <td> 2.2%</td> </tr> <tr> <td> Mid North&nbsp;</td> <td> 1.6%</td> </tr> <tr> <td> Fleurieu/Kangaroo Island</td> <td> 5.8%</td> </tr> <tr> <td> South East&nbsp;</td> <td> 3.7%</td> </tr> <tr> <td> Riverland</td> <td> 2.0%</td> </tr> <tr> <td> Yorke Peninsula&nbsp;</td> <td> 10.8%</td> </tr> </tbody> </table> <p><br /> &nbsp;</p> http://www.reisa.com.au/news/rental-market-vacancies-fall-in-metro-adelaide-in-september-quarter http://www.reisa.com.au/news/rental-market-vacancies-fall-in-metro-adelaide-in-september-quarter 6th Nov 12 Reserve Bank runs a conservative race with interest rates <p>The Reserve Bank of Australia have taken the conservative approach in leaving the official cash rate on hold, despite expectations from the property market, that interest rates may fall today.</p> <p>Real Estate Institute of SA President, Mr Greg Moulton, said that there was a wide-felt expectation that Melbourne Cup day may have seen a further rate drop, but this hasn&rsquo;t eventuated.</p> <p>&ldquo;The market has slowly responded to the previous rates cuts and it would have been nice to see a drop down to the 3% mark for interest rates,&rdquo; he said.</p> <p>&ldquo;There is no doubt that homebuyers and investors will watch the RBA&rsquo;s next move before Christmas though.&rdquo;</p> <p>&ldquo;A further rate cut before the new year would definitely be a positive for the housing market leading into 2013.&rdquo;</p> <p>Mr Moulton said that interest rates were top of mind when buyers were making the decision on whether to make a move and they can&rsquo;t be ignored in the home affordability debate.</p> <p>&ldquo;Weekly repayments play on all homebuyer&rsquo;s minds and it&rsquo;s usually the first budgeted expense that people calculate, so any movement in rates is watched by all in the housing market.&rdquo;<br /> &nbsp;</p> http://www.reisa.com.au/news/reserve-bank-runs-a-conservative-race-with-interest-rates http://www.reisa.com.au/news/reserve-bank-runs-a-conservative-race-with-interest-rates 29th Oct 12 REISA President accepts further term at the helm <p>The Real Estate Institute of SA has re-elected Mr Greg Moulton for a further term as President, following the Annual General Meeting of members this evening.</p> <p>Mr Moulton, also the CEO of Harcourts (SA), has served on the REISA Board for four years and said that he had enjoyed representing the membership over the past 12 months and was humbled by the Board nomination to stay on for a further term.</p> <p>&ldquo;The President&rsquo;s role involves getting out and about, into the membership and seeing what issues need to be canvassed by their peak body,&rdquo; Mr Moulton said.</p> <p>&ldquo;I&rsquo;ve been fortunate to travel throughout the regions and meet a great deal of our membership over the past 12 months and I look forward to doing more of this again in 2013.&rdquo;</p> <p>&ldquo;What is clear to me is that we have a highly professional sector, of hard-working individuals from all over the State and now, more than ever, with national licensing threatening our standards, we need to work hard to show consumers what we offer to our clients, and the broader community.&rdquo;</p> <p>Mr Ted Piteo was elected as the Vice-President. The two Board Director vacancies were filled by Alex McGregor-Reid (re-elected) and Kevin Magee.</p> <p>The 2012/13 REISA Board will be: President &ndash; Greg Moulton (Harcourts), Immediate Past President &ndash; Greg Nybo (Century 21 Property People), Vice President &ndash; Ted Piteo (The Professionals), Independent Director &ndash; Rod Foster Jones (Piper Alderman), Independent Director &ndash; Nick Storer (Bentleys Adelaide), Directors &ndash; Mark Sanderson (Smallacombe Sanderson), Christine Bertram (Bertram &amp; Co Conveyancing), Alex McGregor-Reid (Harris Real Estate), Leo Redden (Landmark Redden), Tony Ricketts (Knight Frank) &amp; Kevin Magee (Raine&amp;Horne)<br /> &nbsp;</p> http://www.reisa.com.au/news/reisa-president-accepts-further-term-at-the-helm http://www.reisa.com.au/news/reisa-president-accepts-further-term-at-the-helm 15th Oct 12 Property sector to heat up as building stimulus package kicks in <p>South Australian homebuyers will respond positively to the news that a special grant is available to purchase and build new properties, according to the State&rsquo;s peak real estate organisation.</p> <p>Commenting on the State&rsquo;s Government&rsquo;s decision to extend homebuyer grants for new properties, the Real Estate Institute of SA said the grant was an important investment to stimulate construction and the South Australian economy more widely.</p> <p>&ldquo;The grants will help people get into a new property sooner and it will also help create additional housing stock that is needed with projected population growth in the future,&rdquo; REISA Chief Executive Officer, Mr Greg Troughton said.</p> <p>&ldquo;Although REISA is disappointed that the first homeowner grant is being reduced for people purchasing existing properties, the intent to stimulate the housing market and construction is respected.&rdquo;</p> <p>&ldquo;The property sector in our State employs one in ten South Australians and we generate over 40% of taxation revenue, so we are pleased to see that Government is considering ways to support the property sector, especially with a flat economy.&rdquo;</p> <p>A summary of the changes are below:</p> <p><strong>First Home Buyers of off-the-plan apartments in the City and Riverbank precinct (until<br /> 30 June, 2013)</strong><br /> First Home Owners Grant $15,000 (Property valued up to $575,000)<br /> Housing Construction Grant $8500 (Property valued up to $400,000)<br /> Stamp Duty Savings $16,330 (Off-the-plan apartment valued at $400,000)<br /> Maximum Total Assistance $39,830</p> <p><strong>Any person who buys an off-the-plan apartment in the City and Riverbank precinct (until<br /> 30 June, 2013)</strong><br /> Housing Construction Grant $8500 (Property valued up to $400,000)<br /> Stamp Duty Savings $16,330 (Off-the-plan apartment valued at $400,000)<br /> Maximum Total Assistance $24,830</p> <p><strong>First Home Buyers who build or purchase a brand new home (until 30 June, 2013)</strong><br /> First Home Owners Grant $15,000 (Property valued up to $575,000)<br /> Housing Construction Grant $8500 (Property valued up to $400,000)<br /> Maximum Total Assistance $23,500</p> <p><strong>Any person who builds or purchases a brand new home (until 30 June, 2013)</strong><br /> Housing Construction Grant $8500 (Property valued up to $400,000)<br /> Maximum Total Assistance $8500</p> <p><strong>First Home Buyers who purchase an established home (until 30 June, 2014)</strong><br /> First Home Owners Grant $5000 (Property valued up to $575,000)<br /> Maximum Total Assistance $5000<br /> &nbsp;</p> http://www.reisa.com.au/news/property-sector-to-heat-up-as-building-stimulus-package-kicks-in http://www.reisa.com.au/news/property-sector-to-heat-up-as-building-stimulus-package-kicks-in 15th Oct 12 Regional housing market starting to pick up moving into spring <p>The regional housing market has shown some signs of bounce after a solid quarter of settlements and a small movement in median house prices, according to the Real Estate Institute of SA.</p> <p>The September quarter property settlements were officially released today and REISA President, Mr Greg Moulton, said that the regional areas have been a little stronger than metropolitan Adelaide, which is a positive sign after some tough times across the State.</p> <p>&ldquo;Preliminary data shows that over 330 houses sold in the major towns over the past quarter, and when this data is finalised, it should lift to around 400 which is above the same time last year,&rdquo; Mr Moulton said.</p> <p>&ldquo;Although the boost is small, it&rsquo;s a good sign to move into spring with and it shows there is some confidence across the regional areas.&rdquo;</p> <p>&ldquo;Additional, the interest rate cuts in recent months have really started to stimulate buyer activity and REISA members are commenting that more negotiations and contracts are being written in recent weeks, so we are optimistic of a stronger spring season.&rdquo;</p> <p>The official Government data for the September 2012 quarter shows that the median price in regional SA is $255,000 which is 6% higher than the same time last year. Across the State, the SA median is $360,000 which is the same as the September quarter for 2011.</p> <p>Mount Gambier and Victor Harbor recorded growth for both the past quarter and the 12 month period and were particular stand outs for regional towns in this reporting quarter.</p> <p>&ldquo;Moving into spring, I think there is a sense that the market will shift and a further rate cut will definitely boost confidence in the housing market,&rdquo; Mr Moulton said.<br /> <br /> &nbsp;</p> <table border="1" cellpadding="1" cellspacing="1" style="width: 200px"> <tbody> <tr> <td> &nbsp;</td> <td> &nbsp;</td> <td> <strong>3Q 2011</strong></td> <td> &nbsp;</td> <td> <strong>3Q 2012</strong></td> <td> &nbsp;</td> <td> <strong>Quarter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; </strong></td> <td> <strong>12 Month</strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td> </tr> <tr> <td> <strong>Index</strong></td> <td> <strong>Category</strong></td> <td> <strong>Sales</strong></td> <td> <strong>Median</strong></td> <td> <strong>Sales</strong></td> <td> <strong>Median</strong></td> <td> <strong>% Change&nbsp;&nbsp;&nbsp; </strong></td> <td> <strong>% Change</strong></td> </tr> <tr> <td> Rural Growth areas</td> <td> Houses</td> <td> 362</td> <td> 240000</td> <td> 337</td> <td> 255000</td> <td> 0.00%</td> <td> 6.25%</td> </tr> <tr> <td> <strong>Component Towns</strong></td> <td> &nbsp;</td> <td> &nbsp;</td> <td> &nbsp;</td> <td> &nbsp;</td> <td> &nbsp;</td> <td> &nbsp;</td> <td> &nbsp;</td> </tr> <tr> <td> Millicent</td> <td> Houses</td> <td> 14</td> <td> 150000</td> <td> 15</td> <td> 125000</td> <td> -31.5%</td> <td> &nbsp;-16.67%</td> </tr> <tr> <td> Mount Gambier</td> <td> Houses</td> <td> 69</td> <td> 220000</td> <td> 65</td> <td> 253000</td> <td> 20.48%</td> <td> <p>15.00%</p> </td> </tr> <tr> <td> Murray Bridge</td> <td> Houses</td> <td> 48</td> <td> 225000</td> <td> 52</td> <td> 222500</td> <td> -3.26%</td> <td> -1.11%</td> </tr> <tr> <td> Port Augusta</td> <td> Houses</td> <td> 38</td> <td> 213500</td> <td> 31</td> <td> 220000</td> <td> -2.22%</td> <td> 3.04%</td> </tr> <tr> <td> Port Lincoln</td> <td> Houses</td> <td> 55</td> <td> 265000</td> <td> 34</td> <td> 263250</td> <td> -4.96%</td> <td> -0.66%</td> </tr> <tr> <td> Port Pirie</td> <td> Houses</td> <td> 38</td> <td> 176500</td> <td> 27</td> <td> 181000</td> <td> -8.59%</td> <td> 2.55%</td> </tr> <tr> <td> Victor Harbor</td> <td> Houses</td> <td> 59</td> <td> 317500</td> <td> 74</td> <td> 359000</td> <td> 7.97%</td> <td> 13.07%</td> </tr> <tr> <td> Whyalla</td> <td> Houses</td> <td> 41</td> <td> 296250</td> <td> 39</td> <td> 265000</td> <td> -5.36%</td> <td> -10.55%</td> </tr> <tr> <td> Barmera</td> <td> Houses</td> <td> 6</td> <td> 142500</td> <td> 5</td> <td> 130000</td> <td> -25.29%</td> <td> -8.77%</td> </tr> <tr> <td> Berri</td> <td> Houses</td> <td> 6</td> <td> 200000</td> <td> 12</td> <td> 222500</td> <td> 52.40%</td> <td> 11.25%</td> </tr> <tr> <td> Naracoorte</td> <td> Houses</td> <td> 23</td> <td> 180750</td> <td> 14</td> <td> 175000</td> <td> -14.63%</td> <td> -3.18%</td> </tr> <tr> <td> Renmark</td> <td> Houses</td> <td> 22</td> <td> 175000</td> <td> 12</td> <td> 227500</td> <td> 26.39%</td> <td> 30.00%</td> </tr> </tbody> </table> <p><strong>*Towns with low volumes (less than 10 sales in each reporting period) should be used with caution as they are not statically reliable or robust.</strong><br /> <br /> &nbsp;</p> http://www.reisa.com.au/news/regional-housing-market-starting-to-pick-up-moving-into-spring http://www.reisa.com.au/news/regional-housing-market-starting-to-pick-up-moving-into-spring 13th Oct 12 Flat property market ready to pounce in spring <p>The winter property market has recorded some flat trends, but with optimism leading into spring with a fresh flurry of activity after the recent interest rates cuts, said the Real Estate Institute of South Australia today.</p> <p>The September quarter property settlements were officially released today and REISA President, Mr Greg Moulton, said that there were no surprises in the data with the quarter total volume sales being similar to the same time last year.</p> <p>&ldquo;Properties have been moving, but at a slower rate than people were used to several years ago, so there is no doubt that property market is experiencing some tough times, like other sectors across the State,&rdquo; he said.</p> <p>&ldquo;However, the interest rate cuts in recent months have really started to stimulate buyer activity and REISA members are commenting that more negotiations and contracts are being written in recent weeks, so we are optimistic of a stronger spring season.&rdquo;</p> <p>The official Government data for the September 2012 quarter shows that the median price in metropolitan Adelaide is $385,000 which is 0.9% lower than the same time last year. Across the State, the SA median is $360,000 which is the same as the September quarter for 2011.</p> <p>Top performing suburbs for the quarter included Somerton Park, Hope Valley and Salisbury with growth over the 12 month period of 18.4%, 17.6% and 13.55% respectively.</p> <p>Examining wider trends, the inner city suburbs performed well over the past quarter with sales volume up on the same time last year and a small increase in the median house price (up 0.36% to $607,200).</p> <p>Mr Moulton said that the latest sales are not revealing any strong patterns of growth, and more so, it appears that prospective purchasers are considering each property on the market on its individual merits.</p> <p>&ldquo;In tougher market conditions, having the property priced for sale in the current market is crucial and this is where the relationship between vendor and agent is critical,&rdquo; he said.</p> <p>&ldquo;Moving into spring, I think there is a sense that the market will shift and a further rate cut will definitely boost confidence in the housing market.&rdquo;<br /> &nbsp;</p> http://www.reisa.com.au/news/flat-property-market-ready-to-pounce-in-spring http://www.reisa.com.au/news/flat-property-market-ready-to-pounce-in-spring 6th Oct 12 Real estate celebration recognises the best of the best <p>South Australia&rsquo;s most highly acclaimed real estate professionals were recognised yesterday evening in a night of fun and celebration at the Advertiser realestate.com.au Awards of Excellence, hosted by the Real Estate Institute of SA.</p> <p>Winners from all over the State, excelling in a range of real estate specialties, were rewarded for their hard work and commitment to client service.</p> <p>Announcing the winners, Mr Greg Troughton, said that the Awards for Excellence strutinsed the entrant&rsquo;s &lsquo;complete package&rsquo; throughout the judging and right across the categories, it was a tight contest to determine the winners.</p> <p>&ldquo;The Awards program acknowledges the hard work that real estate professionals do, day in and day out, and the commitment they have their clients,&rdquo; he said.</p> <p>&ldquo;Throughout the judging process, every element of an entrant&rsquo;s business is analysed, from their performance over the past 12 months, right through to the work they do in the local community.&rdquo;</p> <p>&ldquo;The winners tonight have worked hard for their success and we congratulate them whole heartedly and know they will carry these titles with great pride.&rdquo;</p> <p>Commenting on the atmosphere of the evening, Mr Troughton said that it was a celebration of the entire real estate profession.</p> <p>&ldquo;To have so many quality agencies represented at the Awards shows the professionalism of real estate in so many areas,&rdquo; he said.</p> <p>Mr Robin Turner was awarded the Sir Robert Torrens Award, real estate&rsquo;s prestige Award to recognise commitment and service to the profession.</p> <p><br /> &nbsp;</p> <table border="1" cellpadding="1" cellspacing="1" style="width: 250px"> <tbody> <tr> <td> <strong>Category</strong></td> <td> <strong>Sub Category</strong></td> <td> <strong>Entrant&#39;s Name</strong></td> <td> <strong>Entrant&#39;s Office Trading Name</strong></td> </tr> <tr> <td> Commercial &amp; Industrial Agency</td> <td> &nbsp;</td> <td> &nbsp;</td> <td> Commercial SA</td> </tr> <tr> <td> Property Management Agency</td> <td> Small Residential</td> <td> &nbsp;</td> <td> Harcourts Mile End</td> </tr> <tr> <td> Property Management Agency</td> <td> Large Residential</td> <td> &nbsp;</td> <td> Harcourts AMPM</td> </tr> <tr> <td> Property Management Agency</td> <td> Commercial and Industrial</td> <td> &nbsp;</td> <td> Commercial SA</td> </tr> <tr> <td> Marketing And Communications</td> <td> &nbsp;</td> <td> &nbsp;</td> <td> Toop&amp;Toop Real Estate</td> </tr> <tr> <td> Community Service</td> <td> &nbsp;</td> <td> Andrew Friebe</td> <td> Smallacombe Real Estate</td> </tr> <tr> <td> Innovation</td> <td> &nbsp;</td> <td> &nbsp;</td> <td> Raine &amp; Horne South Australia</td> </tr> <tr> <td> South Australian Salesperson</td> <td> Residential</td> <td> Andrew Adcock</td> <td> Adcock Real Estate</td> </tr> <tr> <td> Salesperson</td> <td> Regional</td> <td> Robert Stephens</td> <td> Elders Real Estate</td> </tr> <tr> <td> Salesperson</td> <td> Commercial and Industrial</td> <td> Evan Florinis</td> <td> Commercial SA</td> </tr> <tr> <td> Business Broker</td> <td> &nbsp;</td> <td> Simon Winter</td> <td> Raine &amp; Horne Corporate Business Sales</td> </tr> <tr> <td> Achievement</td> <td> Residential Sales</td> <td> Alexi Broikos</td> <td> Refined Real Estate</td> </tr> <tr> <td> Achievement</td> <td> Property Manager</td> <td> Jason Wright</td> <td> Essential Property Management</td> </tr> <tr> <td> Property Manager</td> <td> Residential</td> <td> Debbie Copley</td> <td> Toop&amp;Toop Real Estate</td> </tr> <tr> <td> Property Manager</td> <td> Commercial and Industrial</td> <td> Ian lambert</td> <td> Ray White Commercial</td> </tr> <tr> <td> Corporate Support</td> <td> &nbsp;</td> <td> Heather Sampson</td> <td> Raine &amp; Horne Salisbury</td> </tr> </tbody> </table> <table border="1" cellpadding="1" cellspacing="1" style="width: 260px"> <tbody> <tr> <td> Local Residential Salesperson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td> <td> <p>Northern/</p> <p>Northeastern</p> </td> <td> <p>Michael<br /> Fenn</p> </td> <td> LJ Hooker Greenwith&nbsp;&nbsp;&nbsp;&nbsp;</td> </tr> <tr> <td> Local Residential Salesperson</td> <td> Southern</td> <td> Andrew Biszczak</td> <td> Open Door Real Estate</td> </tr> <tr> <td> Local Residential Salesperson</td> <td> Eastern/City</td> <td> Alexander Ouwens</td> <td> Harcourts Ouwens Casserly</td> </tr> <tr> <td> Local Residential Salesperson</td> <td> <p>Western/</p> <p>Beachside</p> </td> <td> Sarah Williams</td> <td> Harcourts Mile End</td> </tr> <tr> <td> Local Residential Salesperson</td> <td> Hills</td> <td> Sandra Berry</td> <td> Sandra Berry Real Estate</td> </tr> <tr> <td> Local Residential Salesperson</td> <td> Regional</td> <td> Daniel Schell</td> <td> Ray White Clare Valley</td> </tr> <tr> <td> Residential Agency</td> <td> Small</td> <td> &nbsp;</td> <td> Toop&amp;Toop Real Estate - Stirling</td> </tr> <tr> <td> Residential Agency</td> <td> Medium</td> <td> &nbsp;</td> <td> Refined Real Estate</td> </tr> <tr> <td> Residential Agency</td> <td> Large</td> <td> &nbsp;</td> <td> Harris Real Estate</td> </tr> <tr> <td> New Agency Office</td> <td> &nbsp;</td> <td> &nbsp;</td> <td> Harcourts Ouwens Casserly</td> </tr> <tr> <td> Sir Robert Torrens</td> <td> &nbsp;</td> <td> Robin Turner</td> <td> Turner Partners</td> </tr> </tbody> </table> <p><br /> &nbsp;</p> http://www.reisa.com.au/news/real-estate-celebration-recognises-the-best-of-the-best http://www.reisa.com.au/news/real-estate-celebration-recognises-the-best-of-the-best 4th Oct 12 Young auctioneer leads the Australasian territory <p>The Australasian Auctioneering Championship was handed to its youngest winner tonight, Daniel Coulson, after a tough competition which challenged Australia and New Zealand&rsquo;s best auctioneers.</p> <p>The winner, Daniel Coulson, of New Zealand, 22, took out the title after a tight content between five outstanding auctioneers. The other finalists were Michael Fenn (SA), Ben Brady (QLD), Andrew North (NZ) and Rob Mason (WA).</p> <p>The Australasian Auctioneering Championship tests an auctioneer&rsquo;s skill and ability to command a crowd, manage any issues at the auction and call complex bidding offers.</p> <p>Last night, five finalists were announced after 15 contestants competed in the heats yesterday. Today at 8.15am the finalists were briefed on a new property to sell under the hammer at 1.30pm. The property used for the challenge was the stunning property, Kensington House, which is owned by Anthony and Sylvia Toop.</p> <p>Today&rsquo;s challenge tested the finalists through a series of challenges. The property used was mixed commercial and residential land, the bidding were fast and furious, and there was an even a medical emergency to contend with during each auctioneer&rsquo;s frantic 15 minutes on stage. The outcome of each auction was that the property was sold for $7.1m.</p> <p>Annually, Real Estate Institute&rsquo;s host this elite competition and this year, South Australia took the honour.</p> <p>Announcing the winner, REISA Chief Executive Officer, Mr Greg Troughton, said that Daniel Coulson won a toughly fought competition, with five outstanding finalists.</p> <p>&ldquo;It was fantastic to see the spirit and professionalism that all of the auctioneers displayed today and they are an inspiration to those working in real estate,&rdquo; Mr Troughton said.</p> <p>&ldquo;Everyone congratulates Daniel Coulson on his win tonight and notes that he&rsquo;s only 22 and our youngest ever winner.&rdquo;</p> <p>&ldquo;To see young people excelling so early in their career shows they are incredibly focused, determined and professional.&rdquo;</p> <p>REISA acknowledges the support of realestate.com.au as the major sponsor of this important real estate event.<br /> &nbsp;</p> http://www.reisa.com.au/news/young-auctioneer-leads-the-australasian-territory http://www.reisa.com.au/news/young-auctioneer-leads-the-australasian-territory 3rd Oct 12 Finalists in the Australasian Auctioneering Championships announced <p>After a busy day of bidding, calling and adding the numbers, the finalists in the 2012 Australasian Auctioneering Championships have been announced.</p> <p>Fifteen contestants from across Australia and the Tasman went head to head today at the Adelaide Convention Centre to auction off a stunning property in Glenelg.</p> <p>At the end of the judging, five finalists were announced and will go on to compete in a further auctioneering challenge tomorrow.</p> <ul> <li>Ben Brady - Queensland</li> <li>Daniel Coulson &ndash; New Zealand</li> <li>Michael Fenn &ndash; South Australia</li> <li>Rob Mason &ndash; Western Australia</li> <li>Andrew North &ndash; New Zealand</li> </ul> <p>Tomorrow, the finalists will be given the address and a tour of a different property which will be the challenge to decide the winner.</p> <p>The auctioneering championships test an auctioneer&rsquo;s skill level, ability to command a crowd, ability to control a bidding sequence and overall presentation and style.</p> <p>REISA is hosting the championship this year, and Chief Executive Officer, Greg Troughton, said that is was an honour to be managing the challenge which is held in such high esteem.</p> <p>&ldquo;These championships are the pinnacle for auctioneers in Australia and New Zealand and it really demonstrates how professional real estate is,&rdquo; he said.</p> <p>&ldquo;We wish all the finalists the best of luck for tomorrow and look forward to announcing the 2012 winner on Thursday evening at the presentation dinner.&rdquo;</p> <p>Media are welcome to attend the finals tomorrow at the Adelaide Convention Centre from 1.30pm-3.00pm in Hall A.</p> <p>Please call Emma Slape on 0423 88 11 20 if you intend to attend so that arrangements can be made for reserved seating and photographic opportunities.</p> <p>Following the event, photographs will also be available on request by emailing <a href="mailto:Emma.Slape@reisa.com.au">Emma.Slape@reisa.com.au</a><br /> &nbsp;</p> http://www.reisa.com.au/news/finalists-in-the-australasian-auctioneering-championships-announced http://www.reisa.com.au/news/finalists-in-the-australasian-auctioneering-championships-announced 20th Sep 12 Australasia’s best vie for the ultimate gavel <p>South Australia will host the 2012 Australasian Auctioneering Championships next month in a week of frenzied calling, bidding and selling.</p> <p>The annual competition, sponsored by realestate.com.au, showcases Australia and New Zealand&rsquo;s best auctioneers and our State is certainly ready to take up the challenge!</p> <p>Through hosting the championships, the Real Estate Institute of SA (REISA) has a week of real estate activities planned to highlight professionalism and put the top auctioneers through their paces.</p> <p>REISA Chief Executive Officer, Mr Greg Troughton, said that a lot of work has gone into planning and hosting this event which ultimately declare a new Australasian champion.</p> <p>&ldquo;From South Australia, we have Michael Fenn of LJ Hooker Greenwich and Nick Baranikow of Harcourts Platinum representing us and I know both of these gentlemen will give the title a good shot,&rdquo; he said.</p> <p>&ldquo;Being on home territory will hopefully give them that extra advantage as it would be wonderful for our State to be able to say we have the best auctioneer in Australasia in the field every weekend.&rdquo;</p> <p>The heats and finals are open, free of charge to the public, which gives everyone a chance to be involved in this high-profile event at the Adelaide Convention Centre (Theatre) on 3 &amp; 4 October.</p> <p>&ldquo;There is an open invitation for people to attend this event. The Wednesday session is the heats and they will start at 10am and conclude at 4pm,&rdquo; Mr Troughton said.</p> <p>&ldquo;On Thursday, the finals will be hosted from 1.30pm to 4.30pm, with the top 4 finalists battling it out for the coveted gavel.&rdquo;<br /> <br /> Please <a href="http://www.reisa.com.au/eventsinfo/contestants-2012" target="_blank">click here </a>to view the contestants bio&#39;s.</p> http://www.reisa.com.au/news/australasias-best-vie-for-the-ultimate-gavel http://www.reisa.com.au/news/australasias-best-vie-for-the-ultimate-gavel 12th Sep 12 Real Estate's best put themselves to the test <p>The State&rsquo;s best real estate professionals are vying for the ultimate titles in the 2012 Advertiser realestate.com.au Awards for Excellence in Real Estate.</p> <p>Finalists in the Real Estate Institute of SA&rsquo;s annual Awards have been announced and the independent judging has now begun to decide the winner in each category.</p> <p>REISA Chief Executive Officer, Greg Troughton, said that the Awards were an important way to recognise those practitioners who go that extra mile to really service their clients.</p> <p>&ldquo;These Awards set benchmarks for the entire profession as they examine every part of an individual and agency&rsquo;s business, so it&rsquo;s more than just dollars and numbers,&rdquo; he said.</p> <p>&ldquo;Independence is a critical part of our Awards program and the finalists are now being judged by an independent judging panel of business leaders who kindly volunteer to be an important part of our Awards program.&rdquo;</p> <p>&ldquo;REISA has over 40 judges visiting and meeting with finalists over the coming weeks to learn more about their client service, community involvement, achievements, commitment to ongoing learning and involvement in the real estate profession.&rdquo;</p> <p>Where categories align in the REISA Awards program, winners will stream through to the national Awards, hosted by the Real Estate Institute of Australia annually.</p> <p>&ldquo;SA has a great record of national winners which is fantastic recognition for our standards of practice and professionalism,&rdquo; Mr Troughton said.</p> <p>The 2012 Awards will be held on Friday 5 October at the Adelaide Entertainment Centre to announce winners in all categories.</p> <p>Please click on the links below to view&nbsp;a full list of the State&rsquo;s finalists. For photographs of finalists, please email your requests to <a href="mailto:Lisa.Stewart@reisa.com.au">Lisa.Stewart@reisa.com.au</a><a href="http://www.reisa.com.au/eventsinfo/2012-finalists-announced" target="_blank"><br /> <br /> Click here </a>to view the list of finalists&nbsp;</p> <p><a href="http://www.reisa.com.au/eventsinfo/hall-of-fame-inductees" target="_blank">Click here </a>to view the list of Hall of Fame Inductees</p> http://www.reisa.com.au/news/real-estates-best-put-themselves-to-the-test http://www.reisa.com.au/news/real-estates-best-put-themselves-to-the-test 4th Sep 12 Housing affordability on the up <p>Real Estate Institute of Australia President, Ms Pamela Bennett says &ldquo;The June quarter 2012 recorded an improvement in housing affordability with the proportion of income required to meet loan repayments decreasing 0.8 percentage points to 31.9%.&rdquo;<br /> &ldquo;Largely due to a higher average income, the Australian Capital Territory remained by far the most affordable state or territory in which to buy a home, with the proportion of income required to meet loan repayments at 17.2%. New South Wales remained the least affordable state or territory in which to buy a home with the proportion of income required to meet loan repayments decreasing to 37.4%.&rdquo;<br /> Ms Bennett says, &ldquo;Compared to the 2011 June quarter, all states and territories recorded improvements in housing affordability. The largest decreases in the proportion of income required to meet loan repayments were evident in Tasmania and Victoria, down 4.7 and 4.3 percentage points respectively.&rdquo;<br /> &ldquo;Median house prices increased 1.4% over the June quarter with Darwin recording a 10.7% increase compared to the same time last year&rdquo;.<br /> In Queensland, the number of loans to first home buyers increased 2% over the quarter and 37.6% compared to the June 2011 quarter. In South Australia, the number of first home buyer loans increased 8% over the June quarter. The number of loans to first home buyers in Western Australia increased by 9.9% over the June quarter and 29% compared to the same time last year.&rdquo;<br /> &ldquo;In the rental market, with the exception of Victoria and Western Australia, all states and territories recorded improvements in affordability over the June quarter,&rdquo; Ms Bennett concluded.<br /> The Adelaide Bank/REIA Housing Affordability Report includes data from all major lending institutions, the Australian Bureau of Statistics (ABS) and Cannex Ltd and is the most authoritative indicator of Australian housing affordability currently available.<br /> &nbsp;</p> <p>The Real Estate Institute of Australia (REIA) is the national professional association for real estate agents in Australia. For further information or interview opportunities, please contact:</p> <p>Pamela Bennett REIA President 0412 212 313<br /> Amanda Lynch REIA CEO 0419 123 862<br /> Andrea Close REIA Manager Communications 0403 298 685<br /> &nbsp;</p> http://www.reisa.com.au/news/housing-affordability-on-the-up http://www.reisa.com.au/news/housing-affordability-on-the-up 4th Sep 12 No surprises in today’s Reserve Bank decision <p>The Real Estate Institute of South Australia said that the Reserve Bank of Australia are closely monitoring activity right across the economy and after drops earlier this year, they are taking a conservative approach.</p> <p>&ldquo;Whilst REISA believes that the market would respond positively to a downward adjustment in interest rates, it is understandable that the RBA want to monitor the impact of the earlier cuts for a little longer,&rdquo; REISA President Mr Greg Moulton said.</p> <p>&ldquo;REISA members noticed a small increase in buyer inquiry levels after rates were cut some months ago, so we know that buyers are very sensitive to interest rate adjustments. What we would like to see, later this year, is further easing of rates, to really kick-start the market again.&rdquo;</p> <p>&ldquo;Housing is a major expense for all South Australians, whether they rent or own a property so interest rates really drive this cost.&rdquo;</p> <p>&ldquo;When interest rates start to ease, we seem more people looking to buy, which includes investors and owner-occupiers, so the impact is felt in all property sectors.&rdquo;</p> <p>&nbsp;</p> <p>Media comment &ndash; REISA President &ndash; Greg Moulton &ndash; 0418 661 888<br /> Background information &ndash; Emma Slape &ndash; 0423 88 11 20<br /> &nbsp;</p> http://www.reisa.com.au/news/no-surprises-in-todays-reserve-bank-decision http://www.reisa.com.au/news/no-surprises-in-todays-reserve-bank-decision 30th Aug 12 REIA helps non-english speakers navigate the rental market <p>To assist real estate agents in communicating with their non-English speaking clients about tenancy issues, the Real Estate Institute of Australia (REIA), in partnership with the Department of Immigration &amp; Citizenship (DIAC), has translated the &lsquo;REIA Consumer Fact Sheet &ndash; Renting a Property &ndash; Tenant&rsquo; into the top ten new and emerging community languages:<br /> Arabic, Hazaragi (Dari), Farsi (Persian), Mandarin (Chinese), Karen (Myanmar), Hakha-Chin (Bangladesh, Myanmar, India), Tamil (Sri Lank, India), Kurdish, Nepali and Dinka (Southern Sudan).<br /> &nbsp;</p> <p>REIA President Ms Pamela Bennett says, &ldquo;Low vacancy rates have resulted in an increasingly competitive private rental market, which poses particular challenges for new Australians with little or no English&rdquo;.<br /> &nbsp;</p> <p>The pilot initiative extends free telephone interpreting services to selected real estate agents around Australia and feedback shows the service has been successful in helping non-English speaking residents to communicate with real estate agents.<br /> Ms Bennett says, &ldquo;Approximately 76 agencies nationwide have used the fee-free interpreting service, 227 times in total and interpreters have been used to facilitate phone calls between real estate agents and clients in more than 30 languages.&rdquo;<br /> &nbsp;</p> <p>&ldquo;There has been a strong uptake of the service, particularly in NSW, Victoria and QLD, where we&rsquo;ve seen high settlement rates&rdquo; Ms Bennett concluded.<br /> &nbsp;</p> <p>Translated pages can be found at <a href="http://reia.com.au/renting-leasing-properties.php" target="_blank">http://reia.com.au/renting-leasing-properties.php</a><br /> &nbsp;</p> <p>The Real Estate Institute of Australia (REIA) is the national professional association for real estate agents in Australia. For further information or interview opportunities, please contact:<br /> &nbsp;</p> <p>Pamela Bennett<br /> REIA President<br /> 0412 212 313<br /> &nbsp;</p> <p>Amanda Lynch<br /> REIA CEO<br /> 0419 123 862<br /> &nbsp;</p> <p>Andrea Close<br /> REIA Manager Communications<br /> 0403 298 685</p> http://www.reisa.com.au/news/reia-helps-non-english-speakers-navigate-the-rental-market http://www.reisa.com.au/news/reia-helps-non-english-speakers-navigate-the-rental-market 24th Aug 12 Aussies need to step up to the auctioneering challenge <p>REIA President Ms Pamela Bennett has called upon Australia&rsquo;s finest auctioneers to put their best gavels forward for the Australasian Real Estate Institute&rsquo;s Auctioneering Championships.<br /> Ms Bennett says &ldquo;&rdquo;Auctioneering is a real and very important craft in our profession. It requires special personal skills such as charisma, presence and confidence. Not everyone can do it well but those who can are astonishing&rdquo;.</p> <p>Devised bidding processes in the Championships test the Auctioneers&#39; aptitude, attention and ability to think on their feet. To be successful, competitors have to deal with a wide range of testing questions and unpredictable bids.</p> <p>Conducted jointly by the Real Estate Institute of Australia (REIA) and the Real Estate Institute of New Zealand (REINZ) - this year&#39;s Championships will be hosted by the Real Estate Institute of South Australia (REISA).</p> <p>First held in 1993, the Championships provide a significant opportunity for both countries to showcase the best Auctioneers they have to offer. Last year, the overall winner was Mark Sumich from New Zealand.</p> <p>Ms Bennett says &ldquo;New Zealand is always fiercely competitive and it&rsquo;ll be a real challenge for the Aussies this year&rdquo;.</p> <p>The 2012 heats and finals will be open to the public at the Adelaide Convention Centre October 1-4 with a Gala Dinner to be held at the National Wine Centre announcing the 2012 Winners.</p> <p>To put your best gavel forward <a href="/eventsinfo/australasian-auctioneering-championships-2012" target="_blank">click here</a></p> http://www.reisa.com.au/news/aussies-need-to-step-up-to-the-auctioneering-challenge http://www.reisa.com.au/news/aussies-need-to-step-up-to-the-auctioneering-challenge 22nd Aug 12 National standards need to equal excellence <p>Any changes to real estate entry level standards must ensure that all South Australians can be assured of professionalism and excellence, the Real Estate Institute of SA (REISA) said today.</p> <p>REISA Chief Executive Officer, Mr Greg Troughton, said that national licensing proposals were now on the table and it was important to consider each proposal in detail to ensure that no States sees a demise in standards.</p> <p>&ldquo;In South Australia, we have high levels of entry for both sales representatives and agents and under national licensing, this can&rsquo;t be diminished, otherwise there will be substantial consumer risk,&rdquo; Mr Troughton said ahead of a national REI meeting tomorrow in Canberra.</p> <p>&ldquo;Tomorrow, REIA is hosting a critical meeting to let all States work together and formulate a national response to the regulatory impact statement on national licensing.&rdquo;</p> <p>&ldquo;Nationally, we strongly agree that standards are critical for professionalism and that&rsquo;s what our clients have a right to demand and expect.&rdquo;</p> <p>&ldquo;What REI&rsquo;s nationally will now do, as a collective, is examine all the intricacies of our practices, State to State, to ensure that no part of real estate practice is overlooked with any changes to licensing.&rdquo;</p> <p>&ldquo;As REIA members it&rsquo;s an important part of the process to work together nationally so that we can highlight the positives and negatives of any proposals, for each of our States.&rdquo;</p> <p>&ldquo;REISA is whole-heartedly behind the national concerns regarding the upholding of entry standards, abolishment of compulsory professional development training and supporting agent&rsquo;s holding their Diploma qualification.&rdquo;</p> <p>&ldquo;We are now at the point of fleshing out every option to make sure we don&rsquo;t overlook consumer protection issues.&rdquo;</p> <p>Commenting on how national licensing may provide positive opportunities, Mr Troughton said that the proposal to capture property managers in SA through a new licensing system is important.</p> <p>&ldquo;For many years, REISA members have supported registration of property managers to set a minimum standard and bring our SA property managers in line with their national counterparts,&rdquo; he said.</p> <p>&ldquo;Another important consideration for SA is the amount of documentation which our sales representatives complete on behalf of clients, such as disclosure statements and contracts for sale.&rdquo;</p> <p>&ldquo;In SA, our sales representatives and agents complete more documentation than their interstate colleagues. REISA believes that if people are completing this documentation, they must know every clause and condition and currently, this is the training which is delivered by quality training providers based in SA.&rdquo;<br /> &nbsp;</p> http://www.reisa.com.au/news/national-standards-need-to-equal-excellence http://www.reisa.com.au/news/national-standards-need-to-equal-excellence 21st Aug 12 Rental market feeling the reality of tough economic times <p>The South Australian rental market has continued to report higher than average vacancy rates over the June quarter indicating that the property market is still feeling the pressure of a tough economy.</p> <p>Metropolitan Adelaide recorded a vacancy rate of 3.91% for the quarter, up from 3.55% in March this year, whilst the regional vacancy rate had dropped to 3.74% from 4.43%.</p> <p>Releasing the June quarter data, the Real Estate Institute of South Australia (REISA) said that in general, three percent is regarded as healthy balance between supply and demand, but we had been above that rate for around 12 months now.</p> <p>&ldquo;In tougher economic times, both in sales and rentals, we see a pattern of people staying still a little more and not moving unless they really need to,&rdquo; REISA President, Mr Greg Moulton said.</p> <p>&ldquo;Our members have definitely found this in the rental market in recent times and it would seem there still may be a little longer to wait until the market starts to heat up.&rdquo;</p> <p>&ldquo;The main pattern to vacancies definitely relates to price and REISA members are commenting that this is the critical factor in leasing property quickly.&rdquo;</p> <p>&ldquo;Once the price gets a little high for the area, the inquiries are very slow which really highlights the importance of being in touch with the local market through using a REISA member.&rdquo;</p> <p>Anaylsing the most recent rental median data shows that prices have stablilised in metropolitan Adelaide over the past 12 months, with no change in the rental median at $320 per week. The rental median in metropolitan areas for units has risen over the past 12 months from $265 to $275 per week.</p> <p>In regional areas, there has been a shift upwards of $15 over the past 12 months for houses to $250 per week, and for units in regional areas, the median has moved from $170 to $180 per week.</p> <p>The table below summarises the rental vacancy data for June 2012. Over 23,000 properties were included in the survey.</p> <p><strong>City/ North Adelaide </strong>&ndash; 2.4%<br /> <strong>West</strong> &ndash; 6.1%<br /> <strong>South</strong> &ndash; 3.7%<br /> <strong>East</strong> &ndash; 4.1%<br /> <strong>North</strong> &ndash; 3.0%<br /> <strong>Hills</strong> &ndash; 4.1%<br /> <strong>Eyre Peninsula </strong>&ndash; 2.7%<br /> <strong>Upper Spencer Gulf </strong>&ndash; 2.9%<br /> <strong>Mid North </strong>&ndash; 2.9%<br /> <strong>Fleurieu/Kangaroo Island </strong>&ndash; 6.7%<br /> <strong>South East </strong>&ndash; 3.8%<br /> <strong>Riverland</strong> &ndash; 2.6%<br /> <strong>Yorke Peninsula </strong>&ndash; 10.5%<br /> <br /> &nbsp;</p> http://www.reisa.com.au/news/rental-market-feeling-the-reality-of-tough-economic-times http://www.reisa.com.au/news/rental-market-feeling-the-reality-of-tough-economic-times 17th Aug 12 June Market Update <p>The June Market Update features metro and regional sales results, auction results and current rental data including vacancy rates and yields. REISA keeps you informed and up to date</p> <p><a class="button" href="http://www.reisa.com.au/documents/item/228" target="_blank">Click here to view</a><br /> &nbsp;</p> http://www.reisa.com.au/news/june-market-update http://www.reisa.com.au/news/june-market-update 7th Aug 12 Property market keen for interest rate review later this year <p>A cut in the official interest rate today would have been warmly welcomed by the housing sector to help stimulate further interest in the market.</p> <p>The Real Estate Institute of South Australia said that it was not surprised a rate cut wasn&rsquo;t delivered this month after the May and June cuts, but it hoped that a further adjustment was on the agenda during 2012.</p> <p>&ldquo;The May and June cuts were badly needed to encourage people back into the buyer&rsquo;s market and we&rsquo;ve seen a very small change in the number of people looking at property, but more impetus is needed to really stimulate a flurry of activity,&rdquo; REISA President, Mr Greg Moulton said.</p> <p>&ldquo;People seem to be very cautious, right across all sectors at the moment, so the climate is right for a further cut to the cash rate.&rdquo;</p> <p>&ldquo;For the owner-occupier and the investor, interest rates are one of the first considerations when buying, so the economic climate needs to be right and a cut to the cash rate will be important to create that climate.&rdquo;</p> <p>Commenting on general market conditions, Mr Moulton said that the amount of stock on the market is a little higher than last year, but sales volumes are also slightly up on twelve months ago.</p> <p>&ldquo;It&rsquo;s hard work in the market at the moment, but if you analyse the figures, it&rsquo;s clear that properties which are priced to meet the market are attracting interest and selling in a reasonable time frame.&rdquo;</p> <p>&ldquo;In a harder market, it&rsquo;s even more critical that the relationship between agent and vendor is strong with regular communication, so that they can react to the market and position the property to sell.&rdquo;<br /> &nbsp;</p> http://www.reisa.com.au/news/property-market-keen-for-interest-rate-review-later-this-year http://www.reisa.com.au/news/property-market-keen-for-interest-rate-review-later-this-year 7th Aug 12 Industry campaigns to protect consumer indemnity fund <p>Proposed changes to the real estate laws in South Australia would allow the State Government to access the Agent&rsquo;s Indemnity Fund and possibly leave consumers with no compensation in cases of professional negligence, according to the Real Estate Institute of South Australia (REISA).</p> <p>Under legislative amendments, currently proposed by the State Government, the Agent&rsquo;s Indemnity Fund could be accessed by the Government for the purposes of &ldquo;administering the Land Agents Act and the costs of administering the Land and Business (Sale and Conveyancing) Act 1994 in relation to agent or sales representative&rdquo;.</p> <p>The Agents Indemnity Fund is comprised of interest from agent and covenyancer trust accounts. Money is paid into a trust account when the agent is holding money on behalf a client (for instance when paying a deposit to purchase property or paying rent in advance). Essentially, the trust account is a holding account for other people&rsquo;s money. Any interest earned on trust funds is always paid to the Agents Indemnity Fund. According to the 2010-2011 Consumer and Business Services Annual Report, over $91m in total assets is retained in the Fund.</p> <p>REISA President, Mr Greg Moulton, said this proposal is sending alarm bells through the industry as the Indemnity Fund has always been in place to offer compensation to people who may have suffered financially as a result of illegal actions by a real estate agent or conveyancer and to provide quality information and training to the industry and consumers.</p> <p>The Australian Institute of Conveyancers (SA Division) has also expressed concern about the breadth and impact of the proposed amendment.</p> <p>&ldquo;If the Government is able to access this fund for general administration purposes, it may be bled dry and not be able to provide adequate compensation for those who have a genuine need in the future,&rdquo; Mr Moulton said.</p> <p>&ldquo;REISA is already concerned about the Fund as in the 2012-2013 Budget Papers, the Indemnity Fund is classified as revenue.&rdquo;</p> <p>&ldquo;REISA would be very happy to sit down with the Government and the Australian Institute of Conveyancers (SA Division) to discuss what would be appropriate uses for the Indemnity Fund, but we simply can&rsquo;t support the Fund being opened to run the administration of Consumer Affairs.&rdquo;</p> <p>&ldquo;Vendors and purchasers already contribute over a billion dollars to State Government coffers every year in property taxation and other impositions to fund the State.&rdquo;</p> <p>&ldquo;Now the Government wants to take the interest on consumer&rsquo;s money to fund a Government department. Where does it stop?&rdquo;</p> <p>Further explaining why administration costs should come from Government coffers, REISA said that the industry already makes a significant financial contribution through licensing.</p> <p>&ldquo;Each sales representative and agent already pays at least $197 per year to retain their license and new entrants pay this amount, plus a $255 application fee, so this totals significant funds, not to mention the burden of property taxation our sector bears the brunt of.&rdquo;</p> <p>&ldquo;Fundamentally, REISA is opposed to this change as the Fund is all about consumer money. It needs to be preserved to ensure that consumers always recourse to financial compensation in the case of a serious financial loss at the hands of an unscrupulous agent or conveyancer.&rdquo;</p> <p>&ldquo;Whilst the amount in the Fund appears high, the last major claim was a class-action relating to a failed mortgage broking firm and it took $13.5m from the Fund. That type of claim was excluded more than a decade ago.&rdquo;</p> <p>&ldquo;Put simply, people involved in real estate deserve adequate protection, in case of fraud, and access to quality information which help them through one of the biggest financial purchases of their lives.&rdquo;</p> <p>&ldquo;The REI is going to fight hard to protect this Fund and we genuinely hope the Government reconsiders their position on utilising these funds.&rdquo;<br /> &nbsp;</p> http://www.reisa.com.au/news/industry-campaigns-to-protect-consumer-indemnity-fund http://www.reisa.com.au/news/industry-campaigns-to-protect-consumer-indemnity-fund 14th Jul 12 Regional house prices feel the winter cold <p>The regional housing market is feeling the pressure of a slow economy and the winter cold with the median house price falling by 5.6% over the past 12 months.</p> <p>Commenting on the release of the Valuer General&rsquo;s median house price data for the June quarter, the Real Estate Institute of South Australia said that most areas had experienced a tough start to 2012 with house prices soft and the number of sales still low.</p> <p>&ldquo;The regional housing market is doing it tough at the moment, there&rsquo;s no bones about it and this is reflective of a slow economy and job uncertainty in the regions,&rdquo; REISA President, Mr Greg Moulton said.</p> <p>&ldquo;Just over 350 sales have taken place in regional towns over the past quarter which is similar to the volume of the same time last year and also last quarter.&rdquo;</p> <p>&ldquo;Overall, the decrease in median house price for regional areas, over the quarter is only 1.5% which shows that although the market is flat, prices are not plummeting.&rdquo;</p> <p>&ldquo;The main towns which are holding their own a little stronger than other towns are dependent on mining, such as Whyalla and Port Pirie.&rdquo;</p> <p>&ldquo;The amount of stock on the market is still very high, which equals longer time on market. But the flip side for buyers is there are more choices and softer purchase prices.&rdquo;</p> <p>&ldquo;When thinking real estate, it has to be a medium to long-term investment and history will show that you can&rsquo;t beat the stability and reliability of bricks and mortar.&rdquo;</p> <p><strong>A summary of the regional data is below:</strong></p> <table border="1" cellpadding="1" cellspacing="1" style="width: 200px"> <tbody> <tr> <td> &nbsp;</td> <td> <strong>2Q 2011</strong></td> <td> &nbsp;</td> <td> <strong>2Q 2012</strong></td> <td> &nbsp;</td> <td> <strong>Quarter</strong></td> <td> <strong>12 month</strong></td> </tr> <tr> <td> <strong>Index</strong></td> <td> <strong>Sales</strong></td> <td> <strong>Median</strong></td> <td> <strong>Sales</strong></td> <td> <strong>Median </strong></td> <td> <strong>% Change</strong></td> <td> <strong>% Change</strong></td> </tr> <tr> <td> Rural Growth Areas</td> <td> 365</td> <td> $269,750</td> <td> 353</td> <td> $254,500</td> <td> -1.55%</td> <td> -5.65%</td> </tr> <tr> <td> Millicent</td> <td> 6</td> <td> $176,500</td> <td> 9</td> <td> $175,000</td> <td> -5.41%</td> <td> -0.85%</td> </tr> <tr> <td> Mount Gambier</td> <td> 69</td> <td> $243,000</td> <td> 69</td> <td> $210,000</td> <td> -12.50%</td> <td> -13.58%</td> </tr> <tr> <td> Murray Bridge</td> <td> 55</td> <td> $250,000</td> <td> 53</td> <td> $230,000</td> <td> -8.00%</td> <td> -8.00%</td> </tr> <tr> <td> Port Augusta</td> <td> 38</td> <td> $230,000</td> <td> 23</td> <td> $215,000</td> <td> -12.87%</td> <td> -6.52%</td> </tr> <tr> <td> Port Lincoln</td> <td> 39</td> <td> $289,000</td> <td> 52</td> <td> $276,000</td> <td> -1.08%</td> <td> -4.50%</td> </tr> <tr> <td> Port Pirie</td> <td> 28</td> <td> $210,000</td> <td> 32</td> <td> $200,000</td> <td> 8.11%</td> <td> -4.76%</td> </tr> <tr> <td> Victor Harbor</td> <td> 87</td> <td> $347,500</td> <td> 63</td> <td> $331,250</td> <td> -5.36%</td> <td> -4.68%</td> </tr> <tr> <td> Whyalla</td> <td> 43</td> <td> $245,000</td> <td> 52</td> <td> $280,000</td> <td> 0.00%</td> <td> 14.29%</td> </tr> <tr> <td> Berri</td> <td> 14</td> <td> $148,875</td> <td> 9</td> <td> $146,000</td> <td> -35.11%</td> <td> -1.93%</td> </tr> <tr> <td> Naracoorte</td> <td> 18</td> <td> $202,500</td> <td> 20</td> <td> $197,500</td> <td> -12.80%</td> <td> -2.47%</td> </tr> <tr> <td> Renmark</td> <td> 12</td> <td> $285,000</td> <td> 11</td> <td> $180,000</td> <td> 7.78%</td> <td> -36.84%</td> </tr> </tbody> </table> http://www.reisa.com.au/news/regional-house-prices-feel-the-winter-cold http://www.reisa.com.au/news/regional-house-prices-feel-the-winter-cold 14th Jul 12 Mid-year figures suggests property may be heating up <p>Transactions levels in metropolitan Adelaide have shown some signs of recovery signaling that the property market may be starting to bounce back, particularly on the back of interest rates cuts.</p> <p>Commenting on the release of the official State Government June quarter statistics, the Real Estate Institute of South Australia (REISA) said that the important indicator from this data release is that the sales volume is edging up, showing stronger activity in the market.</p> <p>&ldquo;The preliminary data has recorded nearly 3800 sales in the June quarter, and this figure will continue to edge up as data is finalised,&rdquo; REISA President, Mr Greg Moulton said.</p> <p>&ldquo;This is up on the March quarter&rsquo;s volume and will end up stronger than the same quarter last year.&rdquo;</p> <p>&ldquo;Activity is the really important driver in the property market, so this is a positive change, especially after two recent interest rate cuts.&rdquo;</p> <p>The median house price for Adelaide metropolitan areas also rose over the past quarter, further signaling good signs for a stronger property market in the last half of 2012.</p> <p>&ldquo;Over the past quarter, the median house price is Adelaide has risen by 3.1%, and we are only looking at a 1.4% decrease on the same time last year, so I think we&rsquo;re starting to see the end of some really tough times in real estate,&rdquo; Mr Moulton said.</p> <p>&ldquo;It will be a slow recovery as the general economy is weak, but people are starting to think property again, for both investment and a different lifestyle.&rdquo;</p> <p>Suburbs which performed particularly strongly, over a 12 month period include Semaphore (40%), Parkside (16%) and Highbury (16%).</p> <p>&ldquo;In Semaphore, looking at the sales for the quarter, it&rsquo;s clear that some big properties have changed hands which has driven the significant spike in median house price, but equally, it shows the demand for the suburb.&rdquo;</p> <p>&ldquo;The market is patchy at the moment, so there&rsquo;s a bit of volatility quarter to quarter but with activity rising and prices starting to stabilise, we&rsquo;re heading in the right direction.&rdquo;</p> <p>&ldquo;The amount of stock on the market is still very high, which equals longer time on market. But the flip side for buyers is there are more choices and softer purchase prices.&rdquo;</p> <p>&ldquo;When thinking real estate, it has to be a medium to long-term investment and history will show that you can&rsquo;t beat the stability and reliability of bricks and mortar.&rdquo;<br /> &nbsp;</p> http://www.reisa.com.au/news/mid-year-figures-suggests-property-may-be-heating-up http://www.reisa.com.au/news/mid-year-figures-suggests-property-may-be-heating-up 3rd Jul 12 Impact of May interest rate drop still being felt <p>Today&rsquo;s decision to leave the official cash rate unchanged is not surprising and after the two recent cuts according to the Real Estate Institute of SA.</p> <p>REISA President, Mr Greg Moulton, said that the housing market has welcomed the recent drop and buyer inquiry has lifted a little after this much needed boost was delivered.</p> <p>&ldquo;Interest rates are front and centre of homebuyers thinking, so the earlier drops have been really important to start to stimulate the property market,&rdquo; he said</p> <p>&ldquo;The housing market is still going through a pattern of slower activity, so we do hope that in coming months, the Reserve Bank may even consider further drops.&rdquo;</p> <p>&ldquo;On the flip side though, there are some great properties on the market which are available for astute buyers.&rdquo;</p> <p>Mr Moulton said that the release of the official June quarter data next week would further pinpoint where activity is starting to pick up.<br /> &nbsp;</p> http://www.reisa.com.au/news/impact-of-may-interest-rate-drop-still-being-felt-12 http://www.reisa.com.au/news/impact-of-may-interest-rate-drop-still-being-felt-12 2nd Jul 12 REISA cautiously welcomes consultation on reform <p>The Real Estate Institute of SA has welcomed the consultation process over the final set of reforms to the real estate laws.</p> <p>&ldquo;REISA and the Government have been talking about the final set of reforms for some time now, so we are glad to see change is imminent,&rdquo; REISA Chief Executive Officer, Mr Greg Troughton said.</p> <p>&ldquo;Our first reaction is that some changes still need to be made in the area of auction practice, but largely, the reforms incorporate REISA&rsquo;s key points such as clarification of the word &lsquo;immediately&rsquo;, the way in which the Form R3 has be delivered and the ability to extend a Sales Agency Agreement for a second term more easily.&rdquo;</p> <p>&ldquo;It&rsquo;s fair to say that the majority of the changes are to ensure that the system operates effectively both for consumers and for agencies.&rdquo;</p> <p>&ldquo;The Government has focused on the reforms around under-quoting which REISA strong supports. Our best practice recommendation has always been for agents to provide evidence around the prices used in advertising, so we are pleased tightening in this area will occur.&rdquo;</p> <p>&ldquo;What we are looking for is more discussion on the operation of auction, and how pricing models may apply in this context. Auction is a very transparent method of selling and we don&rsquo;t want to deter people from using auction to sell their property.&rdquo;</p> <p>&ldquo;We are also very keen to talk about standards of practice, as we are gravely concerned that national licensing may water down entry standards which will be detrimental to consumer protection.&rdquo;</p> <p>REISA will now set about analysis the draft bill, word for word, to ensure that any changes are positive, benefit industry and adequately protect consumers.</p> <p>&ldquo;This is our opportunity to ensure that the process of buying and selling is as professional as possible, without un-necessary red tape,&rdquo; Mr Troughton said.</p> <p>REISA will also be consulting with members during the three-week consultation process.</p> <p>To view the draft bill and discussion paper, visit <a href="http://www.cbs.sa.gov.au">www.cbs.sa.gov.au</a><br /> &nbsp;</p> http://www.reisa.com.au/news/reisa-cautiously-welcomes-consultation-on-reform http://www.reisa.com.au/news/reisa-cautiously-welcomes-consultation-on-reform 30th Jun 12 Real estate standards threatened by national reform <p>Real estate standards in South Australia look set to drop unless the Government agrees to review the position of lowering entry requirements leading into national licensing, the leading real estate body has warned.</p> <p>Speaking out on concerns with national licensing, REISA Chief Executive Officer, Mr Greg Troughton said that it&rsquo;s now just 12 months until the new system is due to commence, but there has been no recent communication from Government about the levels of standards consumers should expect.</p> <p>&ldquo;Over the past two years, REISA, and other industry groups, have been involved in liaising with Government to discuss the professional standards we believe are critical in South Australia,&rdquo; he said.</p> <p>&ldquo;However, there has been little communication in recent times and this is really concerning as the implementation date has been set for July 2013, which is literally just 12 months away.&rdquo;</p> <p>&ldquo;REISA is keen to keep talking and work through the issues we believe are critical for consumer protection in South Australia.&rdquo;</p> <p>&ldquo;Interstate, the entry levels are lower, but REISA simply can&rsquo;t accept that lowering standards is a good move, especially when our salespeople assist buyers and sellers with so much of the paperwork and important legal documentation.&rdquo;</p> <p>&ldquo;As an industry body committed to raising professional standards, we&rsquo;re not interested in winning a race to the bottom.&rdquo;</p> <p>&ldquo;Although there are generous financial incentives for the State Government to agree to national licensing and implement within the agreed timeframe, we can&rsquo;t compromise standards for cash.&rdquo;</p> <p>REISA&rsquo;s position on registration for salespersons is that they should have extensive training in legislative matters, legal documentation, transaction processes and risk management. This largely mirrors the current licensing requirements in SA.</p> <p>Mr Troughton reiterated that REISA fully supported the principle of national licensing, as long as consumer protection and industry standards were maintained.</p> <p>&ldquo;Real estate salespersons are trusted to assist consumers through very large financial transactions, and they need to have the skills and training to make sure they can do this in a very professional way,&rdquo; Mr Troughton said.</p> <p>&ldquo;To ensure the skill level is there, adequate training is essential and we will keep fighting to uphold high standards, on behalf of industry and consumers.&rdquo;<br /> &nbsp;</p> http://www.reisa.com.au/news/real-estate-standards-threatened-by-national-reform http://www.reisa.com.au/news/real-estate-standards-threatened-by-national-reform 5th Jun 12 Impact of May interest rate drop still being felt <p>Today&rsquo;s decision to cut interest rates by a further 25 basis points after last month&rsquo;s 50 basis point cut is another step in the right direction according to the Real Estate Institute of SA.</p> <p>REISA President, Mr Greg Moulton, said that the housing has welcomed the May drop and buyers have lifted a little after this much needed boost was delivered.</p> <p>&ldquo;Interest rates are front and centre of homebuyers thinking, so the drop in June was really important to continue to stimulate the property market,&rdquo; he said</p> <p>&ldquo;What we are seeing is a bit more activity at open inspections and people starting to move towards making a purchasing decision, which is positive after some tough times in the real estate market.&rdquo;</p> <p>&ldquo;We are still just weeks from the last decision though and the major lenders are responding to the cut, so we are hoping that there may still be more positivity to come from last month&rsquo;s drop.&rdquo;</p> <p>Commenting on some bank&rsquo;s refusal or hesitation to pass on the full cut to homebuyers, Mr Moulton said that it was really disappointing to see this trend as buying a home was such an important goal of everyday Australians.</p> <p>&ldquo;As a nation, we typically aspire to own a property we can call our own and it&rsquo;s disappointing that banks and lenders who return healthy profits each year, are looking to make more money off this fundamental need.&rdquo;<br /> &nbsp;</p> http://www.reisa.com.au/news/impact-of-may-interest-rate-drop-still-being-felt http://www.reisa.com.au/news/impact-of-may-interest-rate-drop-still-being-felt 9th May 12 Rental market to benefit from review of tenancy Act <p>Tenants, landlords and real estate agencies will benefit from the opportunity to review the laws which govern residential tenancies to ensure they reflect current community needs, the Real Estate Institute of SA has said.</p> <p>Welcoming the news by the Deputy Premier, the Hon John Rau MP, to review the Residential Tenancies Act, REISA Chief Executive Officer, Mr Greg Troughton said that this review is critical to ensure that everyone involved in residential leasing gets a fair go.</p> <p>&ldquo;The current Act is nearly 20 year old now, so the time&rsquo;s right to look at what can be improved to make sure that the systems are streamlined and workloads are reduced for both industry and the Government administering the laws.&rdquo;</p> <p>&ldquo;A review is also timely to ensure that the balance is right to encourage investors into the market to accommodate for the growing need in the private residential rental market.&rdquo;</p> <p>&ldquo;REISA will be consulting extensively with our property managers to confirm the areas which require discussion but straight off the bat, three key issues we&rsquo;ll be looking at are bond provisions, exit times from an agreement and standards of hygiene and cleanliness for properties.&rdquo;</p> <p>Fleshing out these issues, REISA explained that the current bond amounts of up to 6 weeks simply don&rsquo;t cover rental arrear risks and potential damage to the property. A change to these amounts will give landlords greater protection and highlight to tenants the responsibility they have in looking after someone else&rsquo;s investment.</p> <p>Another key issue for both tenants and landlords is the state in which a property can be leased and handed back at the cessation of the agreement. Currently, there is not enough precision in defining cleanliness and hygenie conditions, so more clearly stating this in the Act will give tenants more confidence that the property they are leasing is clean and habitable state. Then at the time of ending the agreement, they will be expected to replicate these conditions.</p> <p>In the situation of a periodic or fixed-term lease, the notice timeframes are not the same for landlord and tenant and REISA is keen to see these aligned so all parties are equal and understand their responsibilities. Changes in this area will give more clarity for everyone who is a party to the agreement.</p> <p>REISA is also involved in a Working Group through Study Adelaide and the review of this Act will allow for more consideration of student accommodation in tenancies.</p> <p>&ldquo;Student accommodation is a growing market in the metropolitan area and we need to ensure that our tenancy laws provide support and adequate protection for this group who are contributing to our local economy.&rdquo;</p> http://www.reisa.com.au/news/rental-market-to-benefit-from-review-of-tenancy-act http://www.reisa.com.au/news/rental-market-to-benefit-from-review-of-tenancy-act 1st May 12 Rate relief welcome by housing sector <p>Today&rsquo;s drop in interest rates will give the property market an important boost in activity which has been long overdue, according to the Real Estate Institute of SA.</p> <p>REISA Chief Executive Officer, Mr Greg Troughton, said that today&rsquo;s rate drop was much anticipated and many buyers had been waiting for a fall in the official cash rate before they signed a contract.</p> <p>&ldquo;Times have been tough in the housing market for some time and buyers have been waiting for this downward movement in rates,&rdquo; he said.</p> <p>&ldquo;Now the trigger has been pulled, we can expect some more activity in the marketplace over the coming months.&rdquo;</p> <p>&ldquo;What will be important for the Reserve Bank to watch, is whether this movement is enough to stimulate activity or whether another rate cut will be needed in the coming months.&rdquo;</p> <p>Mr Troughton also said that the next challenge was to all the major lenders to pass on the rate drop.</p> <p>&ldquo;Some banks have made it clear that they won&rsquo;t be beating to the drum of the RBA, so we do recommend that buyers do their homework and ensure they are getting a good deal on their home loan,&rdquo;</p> <p>&ldquo;In tough economic times, every dollar counts and getting a good deal on your home loan may mean the difference between securing the home of your dreams or a property that simply meets your needs.&rdquo;<br /> &nbsp;</p> http://www.reisa.com.au/news/rate-relief-welcome-by-housing-sector http://www.reisa.com.au/news/rate-relief-welcome-by-housing-sector