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 >>
“With great power comes great responsibility” We understand you want to empower your staff to be the best employee they can be. You want to encourage them to strive to greater heights within the business. But what happens when the responsibility is too great for the staff member in question? As we saw in our previous blog, the level of ... read more >>
Trust account fraud is possible even without direct access to your trust account. Think not? Think again! As we have painstakingly come to discover, Property Managers are able to steal trust money even without access to the trust account. Here’s how we came to discover this un-delightful piece of information about trust account fraud. Unfortunately this highlights how easily it ... 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 >>
PUTTING THE TRUST IN TRUST ACCOUNTS Our blog earlier this month introduced an explanation of trust money and those types of transactions that are required to be deposited into a trust account. To recap, the most common examples of trust money that must be deposited into a trust account are: Residential rent Residential bonds Commercial rent Commercial bonds Strata levies ... 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 >>
This is a hot topic in Real Estate at the moment. Should your agency move the trust accounting software to the cloud or should you remain server based? The answer depends entirely on the individual needs of your agency. There is not one size fits all. It is important to consider some pros and cons of each and decide which ... read more >>
Be on the trust fraud front foot What would you do if you found yourself falsely accused for misappropriation of trust money? How are you able to prove that it wasn't you? Is there a certain action or behaviour that you do each day that is uniquely you that no else knows about? Why on earth would someone want to ... read more >>
