No matter how well you prepare for it, when you receive your first breach from your auditor, it may very well come as a shock. We want to help before any potential meltdowns occur. So we have compiled a list if you have been found in breach from your auditor. It highlights the top 10 list of the most common ... read more >>
End of Financial Year You just got through the last one relatively unscathed, just a few bumps and bruises to show. You recovered… then you blinked and BOOM! It’s here again. And with it comes higher than normal stress levels, later nights, less sleep and a whole lot of thoughts about how you’ll do it better next year. Well, the ... read more >>
RENTAL BONDS ONLINE A New System to Reduce Misappropriation of Bond Money The misuse of trust money is still a hot topic in Real Estate. We have previously written about bond theft and how it is the most common cause of misappropriation of funds in the industry. Unfortunately the message seems to still have not gotten through with agents continuing ... read more >>
As with many aspects of business, it is acceptable to believe there will be a steep learning curve, mistakes made, and lessons learned as you navigate your way through business. The same goes for your trust accounting. We have previously outlined 10 of the most common mistakes made by real estate agents in a previous blog, which you are invited ... read more >>
Stealing from trust accounts is not just a plain bad idea – it’s illegal It would seem logic would prevail that stealing from your trust account would be a bad idea, yes? Unfortunately for some, this is not a clear-cut decision. Earlier this month, as reported by www.news.com.au, a Victorian Real Estate Agent, 43 years old from Huntingdale, was sentenced ... read more >>
There are some things we can turn a blind eye to. Sneaking in a 3pm sweet tooth chocolate break. Taking an extra biscuit from the staff room stash. Knocking off 5 minutes early to catch some of the last rays of sunshine on a Friday afternoon. But there are some things that you simply cannot ignore. Like your responsibilities as a ... read more >>
Rogues in the Real Estate Training Industry Money can buy a lot of things. One of those things should not be an education. Education comes from hard work, dedication and the pursuit of knowledge. Not by how much money is in your back pocket. Like many other industries, the real estate industry has both good and bad training providers. Unfortunately, ... read more >>
Why face-to-face training is better than online. We are living in an increasingly online society. With the continual advancements in technology, the gradual acceptance of the move towards flexible remote offices and the boom of social media, the online world has morphed into all that we do. Education and training is no different. The number of training and education providers ... read more >>
This week saw the announcement that NSW Fair Trading are conducting a review on the property industry training standards. About time, we say! In particular we would like to see some reform around who is qualified to manage trust accounts and here's why; In a world where scammers try to trick you, it is difficult to trust just anyone. Clients entrust ... read more >>
In the complex world of trust account management, there is nothing worse than the nightmare that is end of month. Often as Licensee or Officer in Charge, you juggle multiple jobs. The trust accounting, the running the business and the staff you hire to manage your clients. As a result, your trust accounts can easily become unbalanced if not managed ... read more >>
