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 >>
Please Explain... This year, more than ever, we are seeing Fair Trading follow through on agents with qualified audits with a polite, 'please explain'. At the EOMA office, we come across common receipting errors which are at the heart of these qualified audits. One of the biggest and most frequent receipting error, is the timing between receiving and the receipting ... 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 >>
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 >>
Being Licensee & holidays...Is it really possible? Being a Licensee or Officer in Effective Control and taking a long-awaited holiday may seem like two terms that just don’t go together. If you are a Licensees who hasn’t seen the inside of your travel luggage for a good 5, 10 or perhaps even 15 years, then you are not alone. But ... 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 >>
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 >>
Going completely paperless in trust accounting is not always a feasible expectation. As an agency there are documents that must be available in hardcopy, however, we can all work towards ensuring we only print those documents that are necessary, and make a conscious effort to minimise our amount of unnecessary printing – both for ourselves and for the environment. NSW ... read more >>
