360 Virtual Reality viewings deliver Australian real estate agents a competitive edge

The Estate Agent’s Co-operative, Australia’s most established network of real estate agents, is excited to announce they are now the exclusive suppliers of the immoviewer 360 Virtual Reality product – cutting edge technology that allows agents to conduct property viewings in Virtual Reality, from anywhere in the world.

“It’s our mission to equip agents with everything they need to succeed in the modern world of real estate” says EAC CEO David Crombie.

“Thanks to truly accessible 360 technology, prospects can now experience your properties as if they were really there, but from the comfort of their homes or offices. By effectively changing the virtual tours industry and providing an instant solution, we enable EAC to create, share, and sell with technologies that in the past have been considered exclusive or luxury”, said Ralf von Grafenstein, CEO and founder of immoviewer. “With immoviewer virtual tours, EAC® will be on the cutting edge of innovative technology that buyers and sellers are demanding.”

How does immoviewer 360 actually work?

  • The real estate agent is able to capture the property in virtual reality in less than 30 minutes using their smartphone, a 360 camera and tripod
  • This footage then uploads to the 360 VR dashboard, complete with their agency’s branding
  • Agents can then invite prospects to walk through the property using their smartphone, tablets, computer or VR headset from any property listing site
  • The details of each participant are then captured and the analytics of the tour provided, to allow for effective follow up post viewing

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Why is immoviewer making such a difference to agents?

With 70% of buyers and renters expecting virtual tours, but only 2.4% of listings providing them, the immoviewer 360 delivers a serious competitive advantage when it comes to winning listings.

“Perhaps the most exciting feature of this technology is the ability to put your prospect in the driver’s seat of their own tour, with real-time analytics delivering you a clear picture of what it is they are looking for.” Says David

This gives agents a deeper understanding of what individual prospects are seeking from their next rental or purchase and allows them to tailor their marketing accordingly, making them more effective at generating interest and closing sales.

Summary of features:

  • Seamlessly guide prospects from room to room as if they were there
  • Ability to capture properties in VR in under 30 minutes
  • Minimal hardware required
  • Enhance the experience via a VR headset
  • The ability to lock rooms to prompt data capture
  • Allows guests to control their own experience
  • Seamlessly integrates across social platforms
  • Uploads to any property listing site

With clients and prospects having more demands placed on their time, and the competition for listings becoming higher, this is absolutely the future of real estate viewing.

To understand more about how immoviewer 360 can lift your listings game, and to get a tour of the system contact the EAC team on 1300 137 161.

Bitcoin, Cryptocurrency, the Blockchain and Real Estate

In this video I  talk about Cryptocurrency, the Blockchain and Real Estate with Lisa B, Real Estate Coach and Trainer from The Real Estate Hotline and Nathan Waters, Futurist, Entrepreneur and Founder of Peerism. I hope you enjoy it.

For information on the tax implications of Bitcoin, Cryptocurrency visit https://www.ato.gov.au

estate-agents-cooperative-eac-bitcoin-cryptocurrency-blockchain-real-estate-nathan-waters
Nathan Waters is a futurist, entrepreneur and consultant. Founder of Peerism, a blockchain-based economic protocol which aims to solve job automation and wealth inequality via skill tokens. He also started and organises SydEthereum, one of the largest Ethereum meetups in the world.

 

lisa b real estate coach

Lisa B
EAC Industry Reporter

Preparing for the Industry Reforms – Licensing and Training – what you need to know

After many years of advocacy by EAC on behalf of members and countless meetings with NSW Fair Trading and Government, last week saw the Property, Stock and Business Agents Amendment (Property Industry Reform) Bill 2017 introduced to Parliament. Discussion on the Bill will take place in February 2018 when Parliament sits again and our current understanding is that the changes will come into effect in the second half of 2018.

EAC has worked through several drafts of the Bill with NSW Fair Trading to ensure that to the extent possible that the changes will work from an industry practice perspective.

The reforms introduce several changes in relation to licensing and will affect everyone currently working in the industry. We recommend that Certificate Holders through to Principals watch this video as there are changes that you can start preparing for now that will make it much easier for you once the changes come into effect.

In this video I talk with Rosy Sullivan, College Principal at Australian College of Professionals about how you can prepare for their introduction.

See the 3rd and final episode of this FSBO (For Sale By Owner) short film where David finally understands property… or does he?

In this short series about FSBO (For Sale By Owner), David sees the shortcomings of his campaign and changes his mind on how to sell

In this third episode purpose-made for Australian real estate agencies, this ‘final chapter’ follows David, an FSBO fan, as he completely turns around his understanding of what it takes to buy and sell property.

Catch up with episode 1  and episode 2 before you watch the finale.

Episode 3
Having successfully sold through a professional real estate agent, David now stumbles through the buying process with the caring support of his patient agent.

FSBO (For Sale By Owner) David changes his mind on how to sell

In this short series about FSBO (For Sale By Owner), David sees the shortcomings of his campaign and changes his mind on how to sell

In this episode, enlightened with what it actually takes to secure a great result, David decides to employ the services of a professional real estate agent. Step-by-step, we follow the agent as she brings her skills, experience and industry knowledge to the task while dealing with the erratic interactions of David.

If you missed the first episode, you can view it here.

Episode 2:
Enlightened with what it takes to sell a property, David seeks the help of a professional real estate agent.

Loose Fill Asbestos are you meeting your Obligations?

In the Loose-fill asbestos insulation guide published by NSW Fair Trading a number of obligations are imposed on the industry in relation to the potential existence of asbestos in the properties that you are engaged to sell or manage.

These obligations include:

  • a duty of care to the client and workers engaged to carry out work on the property;
  • a commitment to act honestly, fairly and professionally;
  • a responsibility to disclose certain matters to prospective buyers and tenants.

You have an obligation under the Work Health and Safety Act 2011 to,” so far as is reasonably practicable, identify and manage the risks from loose-fill asbestos” from both a sale and property management perspective.

Don’t you just love that phrase ‘reasonably practicable’? Every time NSW Fair Trading uses it we ask for an example, they are not always forthcoming. EAC has put forward to NSW Fair Trading on many occasions that as agents we are not building inspectors and we believe that in some cases too much onus is being put on agents. Putting that aside, to assist you in meeting your obligations in regards to Loose Fill Asbestos we have created a Loose Fill Asbestos Questionnaire.

Firstly, you should be advising your principals that properties built before 1980 may contain loose-fill asbestos insulation. Secondly, you should have them complete the questionnaire at the time of your initial inspection. If you have not done this then we suggest that you send out the form to all your clients and have them complete it so you have it on file, and especially if the property was built before 1980.

If as a result of the completion of the questionnaire you become aware of the presence of loose-fill asbestos or suspect that loose-fill asbestos may be present then we suggest you follow the steps outlined on the Loose-fill asbestos insulation guide.

Our forms solutions provide you with the flexibility to work the way you prefer and we have made the questionnaire available both as online and printable form. The online version is now available in our Online forms solution and print version can be downloaded from our Supplementary Forms and Resources page on eac.com.au.

As a reminder for Members, as part of your membership you are able to obtain free legal advice from Jemmeson & Fisher Solicitors on our agency agreements and other practice related issues. When the need arises just give us a call on 1300 137 161 and we will put you through.

Real estate agent. Does this FSBO (For Sale By Owner) short film seem familiar?

Ever found yourself shaking your head in disbelief at a prospective vendor, who decides to go it alone and sell privately? The reality is a good agent always makes their job look easy. In fact, some of you make it look so simple that every man and his apprentice think they can do the same — if not better.

How many people have told you, “I think I would make a good agent”?

Next time you come across a prospective client who is about to make that scary choice of FSBO, you might want to save them some heart ache and money by sending them a link to our main character, David, who decides he doesn’t need the services of a professional agent. After all, David is a creative genius with an iPhone camera , social media guru and a born sales person. What could possibly go wrong?

Purpose made for Australian real estate agencies, this 3-part mini-series, of only a couple of minutes each, will have you reeling with embarrassment as you watch the bumbling efforts of David, an FSBO ‘practitioner’.

Whether it gets your office or clients laughing, or is even suitable to send to a prospective vendor, this slice-of-life skit will take you to a place that is only so real.

Episode 1:
Full of confidence, David attempts to sell his house. However, it soon becomes apparent just how much he lacks to achieve a great result.

Updated Video Marketing App streamlines video production and adds the ability to include your own content

We are excited to announce the latest features to the HouseLens VIEW Video Marketing app

In a recent survey we asked our growing user base what they would like to see in the app and we listened!

New ‘In Production’ layout

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The new layout simplifies the process of shooting your video. The sections are now much larger making it easier to navigate to the section that you want to record and now guides you through the creation of your video.

Ability to add other video clips from your camera roll into your property video

estate-agents-cooperative-eac-services-rea-estate-listing-property-video-marketing-add-external-clips

You can now add up to 3 additional clips up to a maximum of 30 seconds per clip to any section of your video. These clips may include a standard agent introduction, drone footage or a clip highlighting the local area. All you need to do is have the additional clips on your phone and they can be added to any of your videos. You just need to be mindful that the more external clips you add to your video, the longer the time to prepare and upload your finished video.

Move clips between areas

estate-agents-cooperative-eac-services-rea-estate-listing-property-video-marketing-move-clips

Have you ever captured a room only to find that you are in the wrong section? Well, you can now move the clip to the right section saving the need to delete and re-shoot the room.

Increased search engine optimisation (SEO)

estate-agents-cooperative-eac-services-rea-estate-listing-property-video-marketing-video-description

The use of videos as part of your real estate marketing will greatly assist in the building of your brand online. To make it easier and quicker for you to optimise each video for SEO, the description of each video is now automatically populated with your details which will be uploaded and appear on your videos on YouTube. These details can be edited or you can add to the description (up to 5000 characters) like many offices are.

The above features will be released in an update to the VIEW app, available through the Apple Store and on Google Play in the coming days.

Interstate Landlords and NCAT the issue explained – Burns Case – High Court Appeal

It is the Constitution, it is Mabo, it is justice, it is the law, it is the vibe; it can be a big problem for property managers.

The 2017 EAC Insight Roadshow is proving very popular with Estate Agents across New South Wales.

Of particular interest to Estate Agents managing properties on behalf of interstate landlords is the recent NSW Court of Appeal decision in Burns v Corbett; Gaynor v Burns [2017] NSWCA (‘the Burns case’).

The Burns case has profoundly impacted the property industry in that it prevents the NSW Civil and Administrative Tribunal (‘NCAT’) determining matters involving interstate parties, i.e. landlord and tenants.

Since the Court of Appeal decision, NCAT has been dismissing up to one application per day for want of jurisdiction, despite s.119 of the Residential Tenancies Act 2010 (NSW) providing a prohibition on certain recovery proceedings in court.

The problem unfolds like this. There is an application to NCAT by an interstate landlord, made by their NSW Real Estate Agent; the dispute concerns a tenant’s non-compliance with a validly served Termination Notice for non-payment of rent. At the first conciliation hearing whereby the landlord’s agent advocates for Orders of termination, possession and the payment of money, the landlords application is dismissed. The tenant remains in the property, owing many weeks rent and there is no Tribunal or Court with jurisdiction in NSW to terminate the tenancy.

Likewise, a tenant who moves interstate and challenges the bona fides of a landlord claim over their rental bond cannot have their matter heard through NCAT. The issue is problematic for all the parties in the tenancy dispute.

In the middle of a housing crisis in New South Wales, we are aware of interstate landlords instructing agents to let their properties sit vacant rather than enter into a lease that perhaps could not be terminated. Likewise, the issues surrounding a rent-default claim on the landlord insurance policy become dubious. While the tenant remains in occupation of the property, the debt owed to the landlord does not crystalise, thus enlivening the insurance policy.

The issue arises because NCAT is not a “court of the State” for the purposes of Chapter III of the Constitution. A State tribunal which is not a “court of a State” is unable to exercise judicial power to determine matters between residents of two States because the State Law which purports to authorise the tribunal to do so is inconsistent with the s39(2) of the Judiciary Act and therefore rendered inoperative by s.109 of the Constitution.

Rather than creating panic amongst agents, the 2017 EAC Insight Roadshow explains in plain terms the Court of Appeal decision; it articulates who is affected, what is the ‘test at law’. Of critical importance, it provides Agents with the best practice for dealing with a dispute involving an interstate party before NCAT. EAC CEO David Crombie recommends that Members, who have not attended an EAC Insight event, that are faced with the issue contact Jemmeson & Fisher to receive advice on how to best deal with it.

Gary Burns has recently been granted leave to appeal to the High Court. However, as of the date of this press release, no hearing date has been set, and there is no basis to conclude that NCAT’s jurisdiction to hear and determine matters will change in the reasonably foreseeable future because of the High Court Appeal.

NCAT’s current practice is to dismiss applications in which jurisdictional issues apply and not to adjourn matters pending the High Court’s decision. This is consistent with NCAT’s obligations under s.36(1) of the Civil and Administrative Tribunal Act 2013 to facilitate the resolution of the real issues in dispute in a manner that is just, quick and cheap.

Agents are encouraged to attend the EAC Insight Events and hear from leading property experts together with the Regulator on significant issues impacting their agency practice.

To quote Australian folk law…. ‘in summing up it is the Constitution, it is Mabo, it is justice, it is the law, it is the vibe” …… and armed with the right knowledge, it does not need to be an insurmountable problem for property managers.

eac-insight-2017-real-issues-real-experts-real-answers-industry-expert-lisa-jemmeson

Lisa Jemmeson
Senior Associate
Jemmeson & Fisher Solicitors and Accountants

Jemmeson & Fisher are the providers of real estate legal advice to EAC and Lisa represents EAC on the NCAT Consumer and Commercial Division Consultative and General/Commercial Forums

NSW Government Releases Options Paper on Short-Term Holiday Letting

In 2016, the NSW Legislative Assembly Committee on Environment and Planning conducted an inquiry into the adequacy of regulation for short-term holiday letting in New South Wales; the Government response to the Parliamentary Committee was released on 20 April 2017. The Government generally supports these findings and recommendations, as well as traditionally supporting any findings and recommendations of the Parliamentary Inquiry.

The Options Paper is the next step in determining a policy framework – by engaging with stakeholders, industry and the general public to discuss what level of regulation is required to best meet the needs of the NSW community.

With Airbnb listings doubling in Sydney in the last 12 months, it is going to become an issue and more so in Strata. It has already, and will increasingly, become a bigger issue for the real estate industry and now is the time to make our position known.

Submissions are due by the 31st October 2017. EAC will be making a submission and is looking for your thoughts as well as feedback to include in the submission.

Feedback can be provided by commenting on this post, or sending your thoughts to membership@eac.com.au

Further information and the Options Paper can be found here.

To provide your feedback please complete our survey by Friday 20th October 2017 to provide us enough time to write the submission.

David Crombie
Chief Executive Officer