Are You Guilty of These Trust Accounting Mistakes? We understand in life, mistakes happen. Like leaving an open tin of milo in the house unsupervised or leaving your washing out on a rainy day. Yep – those are passable mistakes. Unfortunately, the mistakes we see on a daily basis with agents and their trust accounts are not on this list. ... read more >>
There is nothing worse than having a pearler of a stress-free month without any unforeseen hiccups to then finding yourself smack bang in the middle of End of Month with no prior preparation or planning. You wouldn’t expect a pro boxer to jump in the ring without any prior training and sparring right? Be prepared or prepare to fail. Harsh, ... read more >>
We have come into contact with many agencies. One thing that stands out is the variety of processes in place from agency to agency when dealing with client accounts. From our experience, we have witnessed two common operational systems that agencies generally fall into. CATEGORY A – THE ORGANISERS Agencies falling into Category A tend to have clear and concise ... read more >>
Data entry is one of the necessary evils of our job. No matter what way you look at it, it is the #1 priority on our daily agenda. Why do we continue to falter when it comes to keeping consistent, well-maintained data entry policies and procedures? Time. Creating effective data entry policies is a time intensive task. Implementing effective procedures ... read more >>
There has been lots of discussion over the past 12-18 months regarding the need to overhaul the Property Services industry. We all agree that there are areas that are crying out for an overhaul, in particular in the areas of training requirements. We have read, digested and rummaged through the points made by the NSW Fair Trading and have summarised what ... read more >>
New changes to the Residential Tenancy Act 2010 are coming into effect as of the 30th January 2017 that it is now mandatory for all private landlords and agents to be registered with Rental Bonds Online and must now invite tenants to lodge their rental bonds using the system. Rental Bonds Online is an online service from the NSW Department ... read more >>
Despite this regulation being in place since January 1st, 2015, it was evident in this years audit that some agencies are still being reprimanded for not complying with the legislation of having a Unique Identification Number (UIN) for all their existing trust accounts. So if you've had a trust account prior to January 1st, 2015 and you're still not sure what the ... read more >>
Retaining good people is essential in business. No matter how good you are or your product or service may be, without key personnel, they are worth nada. Which brings us to the topic of staff retention. Your first thoughts on staff retention strategies may drift initially to your key sales staff. Those who bring in the bread and butter to ... read more >>
We understand that by mid December, part of you may check out. Or be on the way the way to checking out. Focus turns from end of month reporting and reconciliations to Christmas parties and fun with friends and colleagues. After a hard year’s work we can see how this can happen… Yet, it is best to not let the ... read more >>
The countdown is on as we cross off the numbers of working days left. Along with the majority of other businesses across Australia, most agencies shut their doors over the Christmas period. So it may or may not come as a surprise, but your clients, as well as also enjoying their own Christmas cheer, will also expect their regular payments to ... read more >>
