Privacy Guidelines Withdrawn – REINZ Meeting with Privacy Commission
The Privacy Commissioner has withdrawn the ‘Privacy Guidelines: Collection of Personal Information by Landlords’.
REINZ and the wider property management industry expressed concerns with the Guidelines and we are pleased to report that, as a result, the Guidelines are being reviewed.
REINZ is shortly meeting with the Office of the Privacy Commissioner to provide further feedback and comment on the Guidelines and will update members as matters progress.
Anti-Money Laundering - Roadshow 3
REINZ is traveling to 14 regions through July and August to give you the next level of AML training. These sessions have different content from previous roadshows and they are not-to-be missed! Highly-practical with expert presenters, these sessions are also an excellent opportunity to bring all your questions.
Sessions available for Compliance Officer Training and Salesperson Training.
Taking something at face value? Think twice
The complainant in this case was a purchaser of a property who complained that the advertising for the sale of the property was misleading as it was advertised to have a “10-year builder's guarantee” when it did not. The details of the complaint are below.
A condition on purchasing the property was that the vendor would transfer the New Zealand certified builder's residential guarantee to him (purchaser) on settlement day. The internet advertising clearly stated that the property had a 10-year builder's guarantee. No guarantee in fact existed. If he had known that the property had no guarantee, he may not have paid as much as he did for it and believed that the value was now affected as a result of no guarantee.
The Licensee who was the listing salesperson responded and stated that the vendor had informed him that there was a “Certified Builder's Guarantee” in place and confirmed this via text message. The vendor again confirmed this during the marketing of the property. The Licensee stated that he also asked the vendor for a copy of the guarantee and that the vendor informed him that once the Code Compliance Certificate was approved, he would provide a copy of the guarantee. He essentially took the vendor’s words at face value and “honestly believed him”.
Findings
The Complaints Assessment Committee (CAC) contacted the vendor who confirmed that no guarantee in fact existed. The CAC were satisfied that on the balance of the probabilities, the advertising represented a guarantee existed when one did not.
The CAC stated that the Licensee being a listing licensee, was responsible for collecting relevant information about the property. He should have verified the information or caveated the information before making positive representations on the supplied information.
In accordance with the Professional Conduct and Client Care Rules 2012, the Licensee breached Rule 5.1 in failing to exercise proper care and skill in the way he dealt with the vendors representation and breached Rule 6.1 as the advertising was misleading.
The CAC, therefore, found that the Licensee had engaged in unsatisfactory conduct.
You can find the decision here.
Tip:
1. Agents must not take information/representations supplied by vendors at face value and must take steps to verify the supplied information/representations or warn purchasers to independently verify it themselves.
AML Training
Both REINZ and DIA are offering training sessions in the coming months. The sessions run by DIA and REINZ cover different topics and so we encourage you to attend both.
REINZ is running training programmes throughout New Zealand specifically addressing how to complete your annual reports, among other matters. These sessions build on the training sessions REINZ delivered last year and earlier this year. To register, click here.
The Department of Internal Affairs is also hosting a series of training events across New Zealand to help businesses understand what’s required of them to complete a Risk Assessment and document their AML/CFT Programme. Time will also be spent demonstrating how to find resources on the Departments website. Senior Regulators will be present to answer any specific questions after the training has completed.
Verifiable Training
Invercargill Verifiable Training - LAST CHANCE!
Wednesday 12 & Thursday 13 June
Registration deadline Thursday 6 June - a $50 per person late fee will apply after this date.
Rotorua Verifiable Training
Wednesday 19 & Thursday 20 June
Registration deadline Thursday 13 June - a $50 per person late fee will apply after this date.
Timaru Verifiable Training
Wednesday 19 & Thursday 20 June
Registration deadline Thursday 13 June - a $50 per person late fee will apply after this date.
Check online for a full list of regional training sessions or the newly released online training packages!
Please note: In 2019 the AML Verifiable training topic is mandatory and no exemptions apply.
Verifiable Dates for 2019
| Region | Dates | Location | |
|---|---|---|---|
| June | |||
| Invercargill | 12 - 13 | Ascot Park Hotel | Book Now |
| Rotorua | 19 - 20 | Copthorne Rotorua | Book Now |
| Timaru | 19 - 20 | The Grosvenor | Book Now |
| July | |||
| Palmerston North | 3 - 4 | Hotel Coachman | Book Now |
| Nelson | 24 - 25 | Trailways Hotel | Book Now |
| August | |||
| Kerikeri | 7 - 8 | Kingston House | Book Now |
| Napier | 21 - 22 | Napier Conference Centre | Book Now |
| September | |||
| Tauranga | 4 - 5 | Waverly on Wairoa | Book Now |
| Auckland 2 | 25 - 26 | Events on Khyber | Book Now |
| October | |||
| Christchurch 2 | 16 - 17 | The Atrium | Book Now |
YPIRE Regional Meetups
YPIRE Wellington: Success your way - LAST CHANCE!
Tuesday 11 June, 5:30pm - 7:30pm, The Arborist Rooftop Bar and Eatery
Our special guests are: Ben Stevens (Ray White Central), Jess Platt (Tommys Central), Rupert Kemey's (Kemeys Brothers Lower Hutt) & Sam McIntyre (Tall Poppy Real Estate).
Join us as our panel discusses the different ways to be success, and what it means to each individual.
For more information, please contact events@reinz.co.nz
YPIRE Auckland: Becoming your brand
Thursday 13 June, 4:30pm - 6:30pm, Events on Khyber, Level 2 REINZ, 155 Khyber Pass Road
Our special guests are: Jadyn Dixon, Harcourts Cooper & Co; Genevieve Taylor - Ford, Bayleys Auckland Central and Caleb Paterson, First National Telos Group.
Join us as our panel discusses building and becoming your brand.
For more information, please contact events@reinz.co.nz
2019 RPM Conference - Thriving in Changing Times
Friday 2 August, Hilton Hotel Auckland
This not-to-be missed Property Management Conference is hosted by Simon McKinney and filled with a great line-up of speakers such as Lisa O’Neill, Dr Annette Beautrais, Steve Watson, Lisa Gerrard and Sheree Nicholas.
Breakout sessions will be available for Property Managers and Business Owners.
Find the full agenda here
Registration includes Cocktail Networking Drinks where the winner of the ‘2019 Recognition of Contribution to the Property Management Industry’ will be announced.
Inspire | Motivate | Connect - 2019 YPIRE Conference
Wednesday 18 September
For young professionals in real estate, those new to the industry, the young at heart or anyone interested in the amazing speaker lineup.
With a great lineup of speakers including Tom Panos, Jake Millar and Lisa King, the 2019 YPIRE Conference is one you do not want to miss!
Group booking discounts available for 5 or more!
For all REINZ Events, click here.
Please note: The Taupo Regional Meeting has been cancelled.
| June | |||
| YPIRE Wellington Meetup | 11 June | 5.30pm - 7.30pm | The Arborist Rooftop Bar & Eatery |
| YPIRE Auckland Meetup | 13 June | 4.00pm - 6.30pm | Events on Kyber, REINZ |
| NZ Auctioneering Championships - Draw | 23 June | 5.30pm - 7.30pm | REINZ, Auckland |
| NZ Auctioneering Championships - Heats | 24 June | 10am - 5pm | REINZ, Auckland |
| NZ Auctioneering Championships - Finals | 25 June | 10am - 6pm | REINZ, Auckland |
| August | |||
| Thriving in Changing Times | 2 August | 9am - 7pm | Hilton Hotel Auckland |
| Septmber | |||
| Inspire | Motivate | Connect Conference | 18 September | 10am - 7pm | Shed 10, Auckland |
Title Preview in PropertySmarts - helping with AML Compliance
With new AML regulations, REINZ members have noted that having the ability to check who the registered owners of a property are in PropertySmarts is helping them ensure they conduct due diligence on the right people.
To access the Title preview, simply click on “Title Details” next to the property information.
For a FREE 14-day trial of PropertySmarts, email Gloria Ellis.
Statistics Returns
Please ensure that your sales returns are submitted in a timely manner each month (by the 4th working day of each month at the latest), for the previous month’s sales.
In order to build a full and accurate picture of the real estate market, we also ask that you complete as many additional details about the property sold as possible. We understand that this can be a timely process but appreciate your support.
Incentives see forestry farm prices increase by 45%
Bindi Norwell, Chief Executive at REINZ says: "Over the last few months there has been a growing voice from the rural community that the Government’s incentives towards planting trees are favouring forestry sales and leading to increasing sales of beef and sheep farms. With the price of forestry farms across New Zealand increasing by 45% when compared to the same time last year, the data tends to suggest that the rural community is correct in its assertions.
REINZ Survey
Last week you will have received a reminder email with the unique link to the new REINZ Survey. If you did not receive your unique link, please email ceo@reinz.co.nz
We would sincerely appreciate any feedback you have to give and encourage you to complete the survey - it should only take 15 minutes to complete.
Everyone that completes the survey, goes in the draw to win a Nespresso Essenza Mini Breville Pure Black thanks to REINZ Member Benefits supplier Noel Leeming.
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.
