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In The Know

13 April 2018

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REINZ research highlights the increasing value of digital tools in real estate

REINZ today has released the second piece in a series of Real Estate Trends and Innovation Series covering the increasing reliance on digital products and tools to support the real estate sales process.

Drone footage, Augmented Reality, Virtual Reality and Near-Field Communication are rapidly growing technologies with strong applications in the real estate industry.

Read the research report here.
Read the press release here.


eForms Online Signing Trials Available

We are currently looking for active eForms users, who may be interested in trialling the new REINZ Online Signing solution available shortly.

If you are interested in trialling this new product and providing us with feedback on your experience, please email statistics@reinz.co.nz to express your interest and for further information.
Limited trials are available

Non-Verifiable Training

Supervision Workshop
Monday 30 April
A practical 2-hour workshop led by Graham Crews, who is sure to engage and entice you in this subject area.

Rising Stars Auctioneering Training
Tuesday 1 May
Get ready for the national competitions in June at REINZ! Come along to this 1-day hands-on, practical workshop and get yourself sorted for the novice champs.

Property Management Workshop: Prospecting Strategies
Friday 11 May
For Property Managers, Agency Owners and Business Development Managers looking for strategies to grow your portfolio.

Keep up with the latest non-verifiable courses being updated here.


Verifiable Training

Thames Verifiable Training Seminar
Wednesday 2 & Thursday 3 May
Registration deadline Tuesday 23 April - a $50 per person late fee will apply after this date

Whangarei Verifiable Training Seminar
Wednesday 9 & Thursday 10 May
Registration deadline Tuesday 30 April - a $50 per person late fee will apply after this date.

New Plymouth Verifiable Training Seminar
Wednesday 16 & Thursday 17 May
Registration deadline Tuesday 11 May - a $50 per person late fee will apply after this date.


New 2018 Webinars

Sales & Purchase Agreements Recording of Graham Crews' recent workshop


Region Dates Location  
May
Thames 2 - 3 War Memorial Civic Centre Book Now
Whangarei 9 - 10 Toll Stadium Book Now
New Plymouth 16 - 17 Novotel Book Now
Hamilton 23 - 24 Hamilton Working Mans Club Book Now
Invercargill 23 - 24 Ascot Park Hotel Book Now
June
Taupo 6 - 7 Great Lakes Centre Book Now
Rotorua 20 - 21 Holiday Inn Book Now
Whakatane 27 - 28 Tuscany Villa Book Now
Timaru 27 - 28 The Grosvenor Book Now
July
Wellington 4 - 5 ASB Sports Centre Book Now
Nelson 25 - 26 Trailways Hotel Book Now
Palmerston North 25 - 26 Hotel Coachman Book Now

Last Chance Events

YPIRE Autumn Event - Thursday 19 April, 6pm – 9pm
Join us for the Young Professionals in Real Estate event of the season! Tickets are only $15


Upcoming REINZ Breakfasts and Seminars

Superstars Breakfast - Tuesday 1 May, 7.30am – 10am
Come and join MC Bryan Thomson, Dame Rosanne Meo, Bindi Norwell and our panellists as they share their insights into their winning secrets to success at our popular ‘Superstars Breakfast’.
Cost includes entry, buffet breakfast, tea and coffee as well as a line-up of top speakers.
Download the poster

North Island Rural Seminar - Save the date - Tuesday 12 June, 11am – 3pm
On the day before Mystery Creek opens – join us for a half day seminar, filled with knowledge, inspiration and information, tailored specifically to the Rural Sector.


REINZ Conference

Residential Property Management Conference - Friday 3 August, 8am - 5.30pm
Join us for our annual RPM Conference for 2018, held at the Pullman Auckland Hotel. Hosted by Simon McKinney and featuring keynote speaker Hon Phil Twyford.
Please register separately if you wish to attend the cocktail party where we will announce an inaugural Property Management Award.

Commercial & Industrial Conference - Friday 3 August, 8am - 5.30pm
Join us for our annual C&I Conference for 2018 and earn 6.0 NV hours. Hosted by Simon McKinney and featuring keynote speaker Hon Phil Twyford.
This year our conference will be held at the, Pullman Auckland Hotel. Please register separately to attend the evening cocktail party giving you the opportunity to network with colleagues.

Conference Cocktail Evening - Friday 3 August, 5.30pm - 8pm
Join us for our end of conference cocktail party at the Pullman Auckland Hotel. This is included in your conference registration but get in quick as there is limited space!

April
Gisborne Regional Meeting 6 April 2pm – 4pm Emerald Hotel, Gisborne
C&I Sector Breakfast 10 April 7.30am – 10am Hotel Pullman, Auckland
May
Superstars Breakfast 1 May 7.30am– 10am Grand Millennium, Auckland
June
North Island Rural Seminar 12 June 11am – 3pm Hamilton
NZ Auctioneering Championships Draw 17 June 5.30pm – 7.30pm REINZ, Auckland
NZ Auctioneering Championships Heats 18 June 10am – 5pm REINZ, Auckland
NZ Auctioneering Championships Finals 19 June 10am – 6pm REINZ, Auckland
Manawatu & Wanganui Regional Meeting 20 June 4pm – 6pm Manawatu Golf Club, Palmerston North
August
REINZ Property Management Conference 3 August 8am - 5.30pm Pullman Hotel, Auckland
REINZ C&I Conference 3 August 8am - 5.30pm Pullman Hotel, Auckland
Conference Cocktail Evening 3 August 5.30pm - 8pm Pullman Hotel, Auckland
September
Women's Breakfast 27 September 7.30am - 10am Pullman Hotel, Auckland
October
Australasian Auctioneering Championships Draw 14 October 6pm - 7.30pm REINZ Centre of Excellence, Auckland
Australasian Auctioneering Championships Heats 15 October 10am - 5pm Q Theatre, Auckland
Australasian Auctioneering Championships Senior Finals 16 October 10am - 5pm Q Theatre, Auckland
Australasian Auctioneering Championships Gala Dinner 16 October 6.30pm - 10.30pm The Maritime Room, Auckland

Tribunal declared Landlord’s termination notice was retaliatory

Facts: The tenancy began in 2012. The Landlord had previously issued a 90-day notice to terminate, which had since been withdrawn.

In December 2017, the Landlord sent a notice specifically stating that if he does not receive rent by 23:59pm every Monday, an eviction order will be applied without notification to the Tenant. The Landlord also attached the termination notice that was previously withdrawn.

The Tenant immediately called the Landlord and advised that she was not in rent arrears, that she was required to pay fortnightly (not weekly) as per the tenancy agreement, and that the previous 90-day notice was not valid since it was withdrawn.

A few days later the Landlord advised he was selling the property and brought an agent to the property. On the same day the Tenant again complained about the termination notice and a maintenance issue which had not been fixed, despite the Tribunal previously ordering the Landlord to fix it.

Later that same day the Landlord sent a 90-day notice. The Tenant claimed the notice was retaliatory and sought to set it aside.

Decision:The Tribunal declared the Landlord’s notice was retaliatory and set it aside immediately.

The Tribunal can do so under section 54 of the Residential Tenancies Act, if satisfied that the Landlord, in issuing the termination notice, was motivated partly or wholly by the exercise of the Tenant’s powers under the law or the tenancy agreement.

The Tribunal was satisfied that the Tenant’s complaints were partly a motivating factor when the Landlord issued the termination notice, due to how soon the notice was sent after the Tenant verbally complained, and the numerous historical complaints by the Tenant during this tenancy, which were raised again with the Landlord shortly before he sent the termination notice.

Click here for the decision.


Exemplary damages against Landlord for unlawful entry

Facts:The Tenant brought a claim against the Landlord on a number of grounds, one of which was that the Landlord did not give them adequate notice for tradespeople to come to the property to do work.

The Tenants stated that tradespeople would either enter the property unannounced or would come to the door with no proper notice. The Tenant said the Landlord had the remote for the garage door, which was used to gain access.

Decision:The Tribunal awarded $500 (from a maximum of $1,000) of exemplary damages against the Landlord for unlawful entry.

A minimum of 24 hours’ notice was required when a landlord wishes to enter the premises to perform maintenance or repairs – section 48 of the Residential Tenancies Act. The Tribunal was satisfied that the Landlord did not provide the requisite notice in this case.

The Tribunal did note that there were no aggravating features in this case – the entry was genuinely for the purposes of maintenance and repairs – and hence fixed the exemplary damages at 50% of the maximum amount payable.

Click here for the decision.

Disclaimer: The information in these case summaries is for general informational purposes only and may only discuss some, not all, aspects of a case. It does not constitute legal or other professional advice and does not replace your company’s internal policies and guidelines. Always check your company’s guidelines, policies and information first and seek legal advice if you have any queries.

What if a purchaser refuses to engage in your agency’s multi-offer process?

Most agencies have their own written policy on how to deal with multiple offers. Whilst the law does not require an agency to have a multi-offer policy, it is strongly recommended your agency instils a policy if it currently does not have one.

This is because multi-offer situations can be fast-paced, high pressure, and involve purchasers unfamiliar with the process. The combination of these factors creates a real risk that licensees may breach one or more Rules if a multi-offer situation is not administered carefully.

When faced with a purchaser who refuses to engage in your multi-offer process or sign your multi-offer acknowledgement form, Rule 10.10 of the Client Care Rules still require you to present such an offer to the vendor, provided the offer is in writing.

We recommend licensees carefully explain the situation to the vendor, including that the purchaser has refused to engage in the agency’s multi-offer process and thus their offer is presented outside of that process, and allow the vendor a reasonable opportunity to seek legal advice to consider whether to accept that offer in the circumstances.

At all times, remember that you must meet the standards of fairness, skill and diligence in the Client Care Rules. If your agency’s standard multi-offer process is not suitable for a particular situation, then you may need to depart from it (subject to your agency’s internal protocols and following discussions with your supervisor/branch manager) so long as the process remains fair to all parties.

Please click here for the REINZ Information Sheet on running multiple offers.

Please email any advisory or compliance questions to Sonia Ng, Lawyer, REINZ Advisory Services, and we may feature your question and our response here. This column is intended for general information only and does not constitute legal advice and does not replace your agency’s internal policies and guidelines. Always check your agency’s guidelines, policies and information first and seek legal advice if you have any queries.


New “Satisfaction of Conditions” form issued to lawyers

The New Zealand Law Society (NZLS) has developed a new form (subject to minor changes to update the referenced legislation) for property lawyers to use when confirming whether the conditions in a sale and purchase agreement are satisfied. It is not mandatory for lawyers to use this form.

Some real estate licensees request a lawyer to confirm an agreement is “fully unconditional”, to enable the release of the deposit. The new form developed by the NZLS reflects its view that a lawyer should go no further than only confirming the satisfaction of conditions which are stated in the agreement, in case there are any other conditions which the lawyer is not aware of and which have not been expressed in the agreement.

If any lawyers’ use of this form causes issues for you, please feel free to email Sonia. For most standard land transactions, a licensee’s release of the deposit is governed by section 123 of the Real Estate Agents Act and clause 2.4 of the standard agreement for sale and purchase (which refers to the satisfaction of any conditions expressed in the agreement).

If you suspect any land transactions may be subject to conditions implied by law (e.g. the Resource Management Act), it is recommended to refer the parties to legal advice and, for clarity, express such conditions in the agreement.

New Member Benefits partner - Virtual reality company, Mercedes-Benz

REINZ has recently secured a new deal with Mercedes-Benz which includes complimentary scheduled servicing for up to 4 years, a total of 4 years warranty and nationwide Mercedes-Benz Roadside Assistance service and more!
Find out more here.

Check out the REINZ Member Benefits page for more information on this partnership and more.


Fresh round of funding available for Women's Leadership Development

Women & Leadership New Zealand (WLNZ) is excited to announce a new pool of scholarship funding is available for women working in the real estate and property sector to undertake a range of leadership development programs.

The initiative is providing women with grants of between $3,000 and $8,000 for part-time accredited courses that are starting later this year.

Expressions of Interest
Funding is strictly limited and early registration is advised. Find out more and register your interest by completing the Expression of Interest form here prior to April 27.

REINZ works in partnership with NetYourJob recruitment to provide maximum industry coverage when you’re looking for real estate staff. NetYourJob can provide REINZ Members with competitive marketing rates for job advertising. Contact NetYourJob on 0800 638 968 to find out more or click here to view new jobs this week.