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Transcript of FTB Edition 9

  • Boardroomfrom the

    9th edition

    Introducing Red Square WebWEB

  • FTB 9th EditionIndex

    03 The Chairmans View - Dale Whittaker04 In the Pipeline - David Crombie06 Eye On The Industry - John Carson09 Red Square Moves Online - Damien McDonald11 Compliance Matters - Geoff Hunter15 Practice Support - Silvana Ferraro17 Around the Traps - Damien McDonald19 The Form Guide - Maureen Faapito21 realestateworld.com.au - Damien McDonald22 Technology Review - Don Harb25 Staff Profile - Damien McDonald26 Member Profile - Damien McDonald31 Welcome New Members32 EAC Contact List33 EAC & realestateworld.com.au Account Managers

  • EST 2004

    i V i s u a l . c o m . a u | 1 3 0 0 7 6 7 1 1 6

    i V i s u a l i W a l lw e a r e r e d e f i n i n g t h e r e a l e s t a t e w i n d o w d i s p l a y. a g a i n .

    sett ing the standards in innovat ion, creat iv i ty, sty le, qual i ty, serv ice & technology

    iWal l iTouch The f i rst vert ical iWal l in Austral ia !

    . . . for us, every instal lat ion is a qual i ty work of art . . .

  • FTB 9th Edition

    The Sydney market appears to be slow in the north and eastern suburbs with small declines in prices recently and yet sections of the western suburbs have experienced in excess of 10% growth.

    The Northern Rivers area, battered by storms and floods, also appears to have slowed significantly and may take some time to fully recover.

    I think the only conclusion to be drawn is that your perception of the current situation and your hopes for the next 6 months depend very much on where your business is located.

    At the time of writing this article we have just had a new Federal Budget and of course we also have a new State Government. The general consensus seems to be that the budget has done little to assist our industry, one of the drivers of the economy. I think our best hope is for The Reserve Bank board to see it as conservative and hold off on further rate increases for a bit longer than they were otherwise planning.

    The State Government has not really had the chance to show its hand yet, however, there are plenty of areas it could target that would assist: zoning issues resulting in continued supply constraints, excessive red tape and fees just to name a few. It has already introduced a Bill to abolish the ad Valorem Tax and we will keep a close eye on developments and meet with key ministers to discuss this and other industry issues.

    A bright spot for us, however, is the introduction of some new technology from EAC that should help your business.

    Firstly, there is the web based version of Red Square which others will talk about in more detail later in this publication, and having seen it I can assure you that it will be a great addition to any office.

    The new version of mapping is also a significant move forward, as is ongoing work on CMI with more and more current data.

    Be assured that the ongoing development of all of EACs services never stops. I have just finished the annual planning day with the CEO and all department managers and was overwhelmed with their passion, commitment and the raft of new ideas and initiatives that they are working on.

    But thats for next time

    The Chairmans ViewThe Market, The Budget and aNew Government

    By Dale Whittaker, EAC Chairman

    3

    It appears that the NSW real estate market is still patchy and unpredictable to say the least. Even in an area as small as the Illawarra it can be performing strongly at the northern end and yet be weak in the south or vice versa month on month.

  • FTB 9th Edition

    Welcome to the second edition of From the Boardroom for 2011.

    This year has already been a big year for the Co-operative, and even as I write this we are in the midst of a particularly exciting and busy period that will see even more firsts for EAC as we continue to grow and move forward.

    Early in the year we saw the Residential Tenancies Act 2010 come into play and in addition to updating all of our printed and electronic forms to comply with the new Act we have also created several supplementary forms and checklists to assist in making the change easier for you as well. If you have not seen these additional forms and checklists, call our Agency Practice Support line on 1300 137 161 to find out how you can access them.

    Over the months of March and April, we held our Industry Update seminars at some 28 venues across the state. It is very encouraging to see attendance grow to over one thousand people for this round of seminars. The next round of seminars will be held in November this year. If you have any topics you would like us to cover in our Industry Updates, feel free to let us know.

    EAC is always looking at ways in which it can assist agents and industry save costs by taking control of its own destiny and to this end, as a result of continued requests in March, we decided to reconsider the launch of a realestateworld.com.au publication in the Central Coast. We spent several weeks in the region talking to agents and holding meetings but despite getting the support from several of the franchise groups and many of the independent agents we were unable to get the necessary level of formal commitment. It takes a considerable level of resource, financial and otherwise to launch a new publication and EAC with the small margins that it operates on cannot commit to a publication if it cant get a commitment from the agents and industry itself.

    One of the most exciting projects that we announced at our Industry Update seminars was the release of Red Square Web. Red Square Web will provide the platform for the delivery of our Listing, Property Information and Mapping services moving forward. Within 12 months the current version of Red Square will be phased out.

    In the PipelineWhats Happening at EAC

    By David Crombie, EAC Chief Executive Officer

    4

    Red Square Web provides the functionality of Red Square and can be accessed anywhere, anytime via the Internet. This new version has been created from the ground up and has been designed to provide a clean, easy to use and intuitive user experience. We have maintained much of the existing user experience so it is not like learning a new system but this new version also includes many new features to the Listing, Current Market Information, Property Information and Mapping services.

    Continued next page..

  • FTB 9th Edition

    Red Square Web has been in testing since July last year by some 100 real estate agents and valuers across the state. I would like to personally thank all the offices and valuers for their assistance and feedback provided during the testing program. The feedback provided by these users on the new version has been extremely positive. Red Square Web will be formally released in July.

    I am certain you will find a great deal of interest with the pages of this From the Boardroom. As always, we welcome any feedback you might have to help us make our products and services more beneficial to your office as, ultimately, we are about service and not profit at the expense of the industry.

    5

    Whats happening at EAC continued

  • FTB 9th Edition

    Continued next page..

    Eye On The IndustryThe Year Ahead at EAC

    By John Carson, EAC Chief Operations Officer

    As reported in the December 2010 edition of From the Boardroom and 2010 Annual Report, in reviewing the future needs of the Co-operative, the Board of Directors were giving consideration to relocating the Co-operatives Head Office operations.

    During its review of operations the Board of Directors also considered the ongoing suitability of the Co-operatives premises in Wollongong.

    As a result of these deliberations the Board concluded that:

    Villawood Premises: The Head Office premises located at Villawood were no longer suitable to the Co-operatives

    needs. The Villawood premises comprise two buildings each consisting of both office and warehouse facilities. When purchased in 1987 these premises suited the Co-operatives operations and in particularly its large printing infrastructure.

    Since that time, and following significant restructure of EACs services and infrastructure, including its printing operations and joint venturing arrangements in areas such as the provision of training services, the need for warehousing facilities (which make up some 50% of the sites area) no longer exists.

    It was also agreed that the cost of remodelling the Villawood premises would not be cost effective.

    Wollongong Premises:

    The Wollongong office, utilising two staff, carried out certain administrative work, did pre-press for the Illawarra realestateworld.com.au publication and distributed stationery on behalf of the Co-operative.

    As a result of improved technologies, the Board resolved to move the Administrative and realestateworld.com.au publication pre-press operations to Sydney to bring it in line with all other publications. It not only streamlined EACs operations, it achieved cost savings without any diminution of services.

    This restructure meant that these existing premises also no longer met the needs of the Co-operative and more suitable premises would be considered.

    6

  • FTB 9th Edition7

    Accordingly, and in line with the above findings, the Board resolved to sell both the Co-operatives premises in Villawood and Wollongong.

    It is the Boards intention that once the Villawood premises are sold the Co-operative will purchase and relocate to more suitable premises comprising almost entirely of office space, allowing for meeting and training rooms.

    In Wollongong the Co-operative will also look to lease more suitable premises; premises with suitable