2018 Australasian Auctioneering Championships
Every four years New Zealand has the privilege of hosting the Australasian Auctioneering Championships and the 2018 competition kicks off in Auckland on Sunday 14 October.
Kiwi auctioneers Andrew North from Harcourts Cooper & Co and John Bowring from Ray White will be representing New Zealand against competitors from the eight Australian Real Estate Institutes. Register now to come along and support REINZ, Andrew and John in the bid to bring the cup home!
Ticket sales close Tuesday 9 October at 4pm
There are a limited number of Auction Packages, Cocktail Packages and VIP Packages remaining - Don't miss out!
Check out the Australasian Auctioneering website for more information
Non-Verifiable Education
Anti-Money Laundering Nationwide Roadshow
REINZ and AML Solutions are running AML Training sessions throughout New Zealand between now and December through the regions, for Sales Agents, Compliance Officers and Administrators.
Registrations are now open via the REINZ Website.
Find training in your area here.
We will be visiting: Whangarei, North Shore, Auckland, Hamilton, Tauranga, Taupo, Thames, Gisborne, Rotorua, Napier, New Plymouth, Palmerston North, Wanganui, Wellington, Nelson, Christchurch, Greymouth, Timaru, Queenstown, Dunedin, and Invercargill.
If you would like to arrange individual training for your brand or office, please do not hesitate to contact AML Solutions at realestate@amlsolutions.co.nz
Training for Managers and their Salespeople
Wednesday 10 & Thursday 11 October
Ex-Colliers CEO Bruce Cotterill is back in this 2-day training extravaganza.
Click here to take a short survey or here for the 9 Habits Quiz.
Overseas Investment Act Workshop
Friday 12 October
Presented by Chief Legal Officer Lisa Gerrard. Webinar coming soon.
Hamilton - Property Management Workshop
Tuesday 13 November
Prospecting strategies and growing your rent roll, presented by Angela Little
Verifiable Training
Christchurch Verifiable Training - LAST CHANCE!
Tuesday 20 and Wednesday 21 November
Registration deadline Monday 8 October - a $50 per person late fee will apply after this date.
Auckland Verifiable Training
Wednesday 17 and Thursday 18 October
Registration deadline Tuesday 13 November - a $50 per person late fee will apply after this date.
| Region | Dates | Location | |
|---|---|---|---|
| October | |||
| Christchurch 2 | 17 - 18 | The Atrium | Book Now |
| November | |||
| Auckland 3 | 20 - 21 | Events on Khyber | Book Now |
Upcoming Events
2018 Australasian Auctioneering Championships
Sunday 14 October - Tuesday 16 October
The Australasian Championships is an annual event representing the most skilled and professional auctioneers that Australia and New Zealand has to offer.
The Championships are conducted by both the Real Estate Institute of New Zealand (REINZ) and the Real Estate Institute of Australia (REIA). REINZ is proud to be hosting this year’s event in Auckland at the Q Theatre.
2018 REINZ Golf Tournament
Monday 29 October
Entry includes green fees, prize table, first drink and after match platters. Get in quick - this tournament sold out prior to closing last year! Thank you to our sponsors Skills and Ingham Prestige Mercedes-Benz.
This event is open to REINZ Members, partners and clients registrations close on Friday 19th October (unless sold prior). Registration will be open on the day from 10:30am with the Matte Black Restaurant open for Morning Tea, Lunch and Coffee.
Blenheim Regional Meeting
Friday 2 November
Join the REINZ team hear about what’s happening at REINZ and share the latest data for the Blenheim region. We also have our partner Property Press sharing some relevant new research. At the end of the presentation there will be the opportunity to network over morning tea. We look forward to seeing you!
Nelson Regional Meeting
Friday 2 November
Join the REINZ team hear about what’s happening at REINZ and share the latest data for the Nelson region. We also have our partner Property Press sharing some relevant new research. At the end of the presentation there will be the opportunity to network over morning tea. We look forward to seeing you!
| October | |||
| Australasian Auctioneering Championships Draw | 14 October | 6pm - 7.30pm | REINZ Centre of Excellence, Auckland |
| Australasian Auctioneering Championships Heats | 15 October | 8.45am - 6pm | Q Theatre, Auckland |
| Australasian Auctioneering Championships Senior Finals | 16 October | 11am - 4pm | Q Theatre, Auckland |
| Australasian Auctioneering Championships Gala Dinner | 16 October | 6.30pm - 10.30pm | The Maritime Room, Auckland |
| 2018 REINZ Golf Tournament | 29 October | 10.30am - 5pm | St Andrews Course, Hamilton |
| November | |||
| Blenheim Regional Meeting | 2 November | 10am -12pm | Scenic Hotel Marlborough |
| Nelson Regional Meeting | 2 November | 2pm - 4pm | Trailways Hotel |
Case Update: Gluckman Report features in Tenancy Tribunal decision
Facts: The Landlord was seeking reimbursement of the cost of methamphetamine testing and loss of rent of $1,125 from the Tenant. Three methamphetamine tests were produced into evidence. Two of these tests measured the actual levels of methamphetamine contamination. The third only indicated whether methamphetamine residue was present or not.
Decision: The Tenancy Tribunal noted the recent attention that has been given to methamphetamine contamination levels in residential properties. In this regard, the Tribunal explained that the (now former) Prime Minister’s Chief Science Advisor, Sir Peter Gluckman, had released a report in May 2018 which concluded that methamphetamine contamination posed no risk up to the level of 15 μg/100cm². For the Tribunal’s purposes, below this level there was no damage to a property.
In this case, the measurements were below 15 μg/100cm². There was one exception. A reading of 16.85 μg/100cm² was found on a toilet seat. However, as there was no equivalent reading before the tenancy began, this could not be attributable to the tenants.
The other type of measure, which only indicated the presence of methamphetamine residue, detected methamphetamine on a smoke alarm which had only been installed during the tenancy. Despite the Tenant’s denial, the Tribunal found that this indicated that methamphetamine had been used at the property during the tenancy. The Tribunal did not explain why this result did not constitute damage. However, based on the preceding discussion it is likely that because the actual contamination level was not available there was no way to know whether the contamination levels were sufficient to constitute damage.
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.
REINZ and Real-iQ deliver the NZ Certificate in Residential Property Management
Lift your professionalism and standards and prepare yourself now for the potential industry regulation.
Click here for more information.
Case Update: Licensee fined $3,000 for failing to disclose interest
Facts: The Licensee’s Colleague was marketing a property. The Licensee brought the property to his Client’s attention. The Client made an offer. The offer was passed by the Licensee to the Colleague and onto the Vendor. The offer was accepted. The Client later wanted to withdraw the offer. The Licensee, who was at the time looking for a property to purchase, suggested to the Client that he and his wife purchase the property. The Client agreed, and the Licensee’s wife was nominated as the purchaser. The Vendor found out. The Licensee accepted that he did not provide an independent valuation or obtain the informed consent of the Vendor. He also retained his share of the commission from the sale. The READT found that the Licensee’s acts and omissions amounted to misconduct. The READT was now required to decide the appropriate sanction.
Decision: The READT explained that a penalty should be appropriate for the particular nature of the misbehaviour and should be consistent with other similar cases. It agreed that suspension was not warranted in this case. It noted the following mitigating factors: the Licensee immediately accepted that he had failed to comply with his obligations, he was willing to make a formal apology to the Vendor and refund his commission. In these circumstances, a $3,000 fine was appropriate together with censure and training. The Licensee was not required to refund his commission. This was because the Licensee was not directly involved in the transaction until after the offer had been made by the Client and accepted by the Vendor.
The above 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.
Foreign Buyer Ban Update
The OIO is due to release its Purchaser Statement on Monday 8 October ahead of the Foreign Buyer Ban coming into effect on Monday 22 October. We will share the Purchaser Statement with you in next week’s In the Know and will shortly release our Information Sheet on the changes to the Overseas Investment Act.
We would love your feedback!
We hope you are enjoying using the new REINZ Statistics portal. To help us to continue improving it, please email any feedback or suggestions directly to the team at statistics@reinz.co.nz.
The more feedback we receive, the better aligned it will be to what our members need.
Nominations for REINZ Life Membership are now open
Nominations for REINZ Life Membership are now open. Life Membership may be recommended for any person who has provided outstanding and meritorious service to REINZ and/or the Real Estate profession.
Click here for the REINZ Life Member Nomination Guide and Nomination Form.
Completed nomination forms must be sent to Lisa Gerrard no later than 5pm, 24 October 2018.
New Zealand follows Australia's example, but will it work?
REINZ Chief Executive Bindi Norwell spoke with Kevin Turner at Real Estate Talk about New Zealand's move to put restrictions on foreign buyers and the impact it may have on the industry.
Listen to the full interview here.
Buyers of The Block houses 'got a good deal'
The winning sale from TV Three's 'The Block' sold for $1,009,500 which is 4.2% above the median price for an equivalent 3-bedroom home in Hobsonville Point according to REINZ data. Bindi Norwell spoke to Stuff.co.nz about the sale prices.
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.
