May 2024 Newsletter

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May 2024 Newsletter

Newsletter snapshot

  • Mothers Day Giveaway!

  • Industry updates: Renters targeted by new Victorian fire safety partnership.

  • Commercial updates: Melbourne CBD retail vacancies tighten as businesses come roaring back.

  • On the road again! Stay tuned for our upcoming Face-to-face classes!

  • NSW CPD updates: NSW Class 1 and Class 2 licensees can now complete their training with us online!

  • Jobs Board: GSE Hospitality are looking for Business Brokers!
    Contact Paul Harvey - 0403 921550
    North Sydney, NSW.

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April 2024 Newsletter

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April 2024 Newsletter

Newsletter snapshot

  • Industry updates: Housing supply isn’t keeping up with migration intake in key regions, Coastal hotspot at 'bottom of the cycle' tipped for major turnaround

  • Commercial Updates: Sydney's first 25hours hotel on the market for $100m ahead of planned opening next year.

  • On the road again! Stay tuned for our upcoming Face-to-face classes!

  • NSW CPD updates: NSW Class 1 and Class 2 licensees can now complete their training with us online!

  • Jobs Board: GSE Hospitality are looking for Business Brokers!
    Contact Paul Harvey - 0403 921550
    North Sydney, NSW.

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March 2024 Newsletter

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March 2024 Newsletter

Newsletter snapshot:

  • Industry updates: Affordable QLD suburb takes out ‘best beach in the world’ gong, Real estate agent branded ‘lazy’ after awkward ChatGPT blunder on rental ad.

  • Commercial Updates: Sydney's Marble Bar – a timeless commercial real estate asset without peer, Afterpay's Sydney headquarters The Brewery hits the market with $140m price guide.

  • NSW CPD updates: NSW Class 1 and Class 2 licensees can now complete their training with us online!

  • Jobs Board: GSE Hospitality are looking for Business Brokers!
    Contact Paul Harvey - 0403 921550
    North Sydney, NSW.

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February 2024 Newsletter

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February 2024 Newsletter

  • Industry updates: Relief for borrowers amid fresh signs interest rates have peaked, Rents jump 33% in two years as crisis deepens.

  • Commercial Updates: Doubts loom over key asset class in 2024, ’Trophy’ site listed for first time in 60 years in Central Coast tourism hotspot.

  • NSW CPD updates: Complete your CPD in one day at our Coffs Harbour venue.

  • Jobs Board: GSE Hospitality are looking for Business Brokers!
    Contact Paul Harvey - 0403 921550
    North Sydney, NSW.

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January 2024 Newsletter

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January 2024 Newsletter

11 January 2024

Newsletter snapshot:

  • Industry updates: From Nambucca Heads to Old Bar: Where to buy a beach house on a budget, The wildest auction moments from Aussie bidders in 2023, What are the chances of buying a home in 2024?

  • Commercial Updates: 2024 shaping up as a big year for commercial business sales.

  • NSW CPD updates: Class 1 and Class 2 Real Estate CPD - Gosford, January 24.

  • Jobs Board: Starting in Real Estate and looking for a role in Business Broking?
    The team at GSE Hospitality Brokers are looking for new starters.
    Contact Paul Harvey at GSE on 0403 921 550.

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December 2023 Newsletter

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December 2023 Newsletter

6 December 2023

Newsletter snapshot:

  • Industry updates: Five ways to prep staff pre-Christmas party // Residential tenancy reforms introduced to Parliament in WA // Pets get the nod under NSW strata reforms.

  • Commercial updates: Workspace reinvention.

  • NSW CPD updates: NSW Class 2 and Class 1 licensees can now complete their CPD training with us online! Plus more face-to-face classroom CPD options!

  • WA CPD: WA agents, don’t forget to enrol in and complete your CPD by 31 December 2023!

  • Jobs board: Starting in real estate and looking for a role in business broking?
    The team at GSE Hospitality Brokers are looking for new starters. Contact Paul Harvey at GSE on 0403 921 550.

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November 2023 Newsletter

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November 2023 Newsletter

3 November 2023

Newsletter snapshot:

  • Industry updates: NSW strata sector updates October 2023 // NSW Government introduces strata sector reforms, extends existing property services commissioner role // National Association of Renters' Organisations launches report on principles for strengthening renters’ rights.

  • Disciplinary action: Former Victorian estate agent convicted over illegal transfers of client funds // Victorian estate agent facing disciplinary action for poor conduct // Western Australia Consumer Protection urges tenants to report racist behaviour after agent reprimanded and suspended // NSW Fair Trading publishes results from underquoting compliance inspections, confirms $52,800 in fines issued.

  • Legislative changes: South Australian government clarifies further commitments to improving housing outcomes for tenants and prospective tenants // Bill introduced to amend South Australia's Residential Tenancy Act.

  • NSW CPD updates: NSW Class 2 and Class 1 licensees can now complete their CPD training with us online! Plus more face-to-face classroom CPD options!

  • WA CPD: WA agents, don’t forget to enrol in and complete your CPD by 31 December 2023!

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Western Australian property manager jailed for trust account fraud

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Western Australian property manager jailed for trust account fraud

12 October 2023

Western Australia (WA) Consumer Protection has reported the state’s first case involving the jailing of a former property manager for trust account fraud. After being found to have unlawfully stolen over $140,000 in trust account funds, the agent has been sentenced to serve thirteen months in prison.

It was determined that the agent had made 141 unauthorised withdrawals from client trust accounts totalling $140,744.37, between the years 2020 and 2022.

This prosecution was enabled under amendments made to the Real Estate and Business Agents Act 1978 in January 2020, when the penalty for trust account fraud was increased to a fine of $25,000 – or two years’ imprisonment. Previously, the penalty for this type of offence in WA was a maximum fine of $3,000.

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October 2023 Newsletter

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October 2023 Newsletter

3 October 2023

Newsletter snapshot:

  • Industry updates: Consumer Affairs Victoria warns against failure to audit trust accounts // Queensland Residential Tenancies Authority (RTA) continues to encourage tenants to enquire about outstanding bonds // Commercial news: Commercial real estate sector primed for strong growth in 2024, experts predict.

  • Disciplinary action: Victorian estate agent facing disciplinary action for poor conduct // Former Victorian estate agent convicted over illegal transfers of client funds // Western Australia Consumer Protection urges tenants to report racist behaviour after agent reprimanded and suspended // NSW Fair Trading publishes results from underquoting compliance inspections, confirms $52,800 in fines issued.

  • Legislative changes: Tasmanian agents, have your say on proposed changes to the Tasmanian Civil and Administrative Tribunal legislation by 4 October 2023.

  • NSW CPD updates: NSW Class 2 and Class 1 licensees can now complete their CPD training with us online!

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NSW Fair Trading publishes results from underquoting compliance inspections, confirms $52,800 in fines issued

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NSW Fair Trading publishes results from underquoting compliance inspections, confirms $52,800 in fines issued

3 October 2023

Following in the footsteps of the Victorian consumer protection body Consumer Affairs Victoria (CAV), NSW Fair Trading has also conducted and completed its own investigation into underquoting in the NSW (Sydney) property market. Some inspections were carried out undercover.

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Consumer Affairs Victoria warns against failure to audit trust accounts

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Consumer Affairs Victoria warns against failure to audit trust accounts

12 September 2023

In a media release today, Consumer Affairs Victoria (CAV) has highlighted the consequences faced by agencies that fail to conduct audits of their trust accounts within the required annual period. CAV uses the example of recent legal action being taken against an agency after its directors failed to audit their trust account over several years, despite receiving reminders, a warning and infringement notices from CAV.

Agencies operating within Victoria must audit their client trust accounts within three months after 30 June every financial year.

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Western Australia Consumer Protection urges tenants to report racist behaviour after agent reprimanded and suspended

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Western Australia Consumer Protection urges tenants to report racist behaviour after agent reprimanded and suspended

8 September 2023

Western Australia (WA) Consumer Protection has announced on its website today that it has taken action against a Victoria Park real estate agent for sending an email “littered with racist and offensive language“ to their former tenants regarding the disposal of their security bond.

The agent was reprimanded and personally suspended by the WA State Administrative Tribunal for eight months from 1 September 2023.

WA Consumer Protection reports that the offending email centred around the agent’s harmful and racist views towards persons of Indian background.

Please note: The text within contains references/quotes to the suspended agent’s comments and may cause offence or distress to some readers.

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