Deciphering the legislation changes As of 23rd March 2020, we saw changes to the legislation which meant that Certificate of Registration Holders transitioned to Assistant Agents. The new legislation brought about some changes to the daily functions of a person working in a trust accounting role. They can no longer perform all of the same duties as prior to 23rd ... read more >>
The real estate industry, like so many others, has been hit hard by the COVID-19 crisis. The changes to the real estate landscape are unprecedented, ones that we could not have predicted a mere few months ago. Yet it is a situation requiring open communication lines and reasonable negotiations between Property Managers, Landlords and Tenants in order to come out ... read more >>
As you are all very hopefully aware the 2020 NSW licensing reforms come into effect on 23rd March this year. Here we summarise the changes that are coming your way, what you need to do to prepare and how it will affect you. The 2020 NSW Licensing Reforms in Brief What Has Changed? There is now a requirement to have ... read more >>
The Consequences of Real Estate Agent Misconduct No matter what industry you are in, there are rogue traders who will attempt to deceive. They cross the lines of not only ethical behaviour, but illegal behaviour. We have touched on this subject before in regards to Real Estate Bonds and bond theft. Over the years there have been many accounts of ... read more >>
The mere mention of the word ‘strata’ is enough to have some agents running for the hills. But with the increase of apartment living in Australia, agents may wish to start looking at strata as another area to expand their business. So what is different between strata trust accounting vs normal real estate trust accounting? When it boils down to ... read more >>
Getting to the Bottom of Batch File Payments An aba file is an Australian Bankers Association electronic payment file format. These batch files are generated from your Real Estate trust accounting software when disbursing funds from your rental trust and can be read by your bank. Batch files are typically used in Property Management for paying Landlords and Suppliers and offer great ... read more >>
The day our Director transferred $100,000 instead of $1,000…and how you can avoid the same mistake. Before you think, no - that can’t be right! Think again. Yes these mistakes can, and do happen (even to the best of us). Major mistakes can happen in the blink of an eye – whether from a momentary lapse in concentration or simple ... read more >>
As a business owner, it is natural to look for ways to increase your bottom line and reduce costs. In our last blog on 8 Ways to Reduce Costs for Start-Up Real Estate Agencies we discussed various ways start-up agencies can minimise costs. This included shopping around on items like software, insurance and considering a virtual office as opposed to bricks ... read more >>
Australia thrives on small business. It is what makes our country go round. So the reality of the number of small business that fail to succeed is definitely a cause for concern. According to the Australian Bureau of Statistics, more than 60% of small businesses cease operating within the first three years of opening their doors. How Can You Reduce ... read more >>
Working like a boss on holidays. Working and holiday are generally two words that should never go together in the same sentence. Unfortunately, as many Real Estate agency owners know, finding that right work/life balance can often prove difficult. As discussed in our earlier months blog 'Being a Licensee & Taking Holidays', good planning and modern technology make working remotely a ... read more >>
