In The Know
11 September 2019
Click the headings below to read more or visit the Property Management page
Final chance to register for 2019 YPIRE Conference - Inspire | Motivate | Connect
Wednesday 18 September, Shed 10, Auckland
Join us for a fantastic line up that we are really excited to be presenting including: Josh Tesolin and Tom Panos from Australia; John Dakin covering disruption in real estate; Jake Millar on fuelling your growth, Lisa King on doing good, and the newly announced Madeleine Sami as MC.
Get your tickets here | Visit the website
2019 REINZ Awards for Excellence in Real Estate Highlights video
Check your data security! Increase in Cyber Security incident reports
CERT NZ work in partnership with other government agencies and organisations to respond to security threats in New Zealand.
The number of incidents reported to CERT NZ have increased by 21% in comparison to quarter 1 this year. A summary of the main incidents are below:
- A total of 1,197 individuals and businesses reported these incidents
- Scams and fraud were the highest reported category in quarter 2, making up 38% of all reports
- $6.5 million reported in direct financial loss, with 23% of incidents reporting some type of loss
- The number of scam and fraud reports increased by 41%, from quarter 1
- 38% increase in ransomware as compared to quarter 1. Ransomware is a type of malicious software that gains access to a computer system, by bad links or attachments in emails and infects the computer by encrypting files so they can’t be read until money is paid to recover them
- An increase in suspicious network traffic reports by 150% compared to quarter 1. Suspicious network traffic is when an attacker tries to find insecure points in networks or computers. CERT NZ identified 58 out of 65 incidents in this category (three times the amount in quarter 1).
What can you do?
- Keep your operating system (MacOS/Windows) and apps up-to-date (Office)
- Make sure you back up files regularly (external hard drive)
- Install antivirus software
For more information, head to the CERT NZ website.
Case Update: Licensee slept in property that he was supposed to sell
The Licensee in this case had the authority to act as agent for the vendors for their property in Mission Bay.
Facts:
On 27 February 2017, the Licensee entered the property and stayed the night there. He was found by the parents of the vendor (who was overseas) and who usually visited the property to undertake maintenance from time to time. The vendor’s mother could see that a bedroom door was closed on the morning of 28 February and thought that this was strange. When she entered the room, she could see that someone had moved the mattresses around and that the door to the ensuite bathroom was closed. She also thought she could hear someone in the shower.
She then left the property and went out to the for-sale sign which the Licensee had placed on the road near the property. She called another licensee who was employed by the same agency and asked whether he had let anyone reside in the property overnight, to which he replied with a no.
Shortly after this phone call, the Licensee walked out of the property through the front door and the mother immediately asked why he was there. The Licensee explained that he was showing someone around the property that morning however, she did not believe this and instead called the Police. While the Licensee was being arrested, he told the Police that he was going to be meeting a client at the property so decided to have a shower at the property.
The undisputed fact was, that he stayed the night in the property, without the vendor’s authorisation.
Finding:
The Real Estate Agents Disciplinary Tribunal found that the Licensee had engaged in disgraceful conduct for staying in the property overnight, lying about the reasons for being at the property to the people who discovered him and to the Police and Real Estate Authority investigators.
It should be noted that the Licensee appealed this decision to the Hight Court however, it was dismissed.
Tips:
- Vendors place their trust in agents to act with honesty and to put their interests first
- This case demonstrates the importance of maintaining a professional relationship with the vendor and not doing anything that will bring the real estate industry into disrepute.
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.
Overseas Investment Office approves 16 applications for forestry investments since October 2018
The Overseas Investment Office has approved 16 consents since the new Special Forestry Test was implemented in October 2018.
The test is considered to be the most straightforward pathway for overseas investors wanting to make forestry investments.
Unique to this test is the need to implement and maintain certain arrangements for the land, such as public access, protection of habitat for indigenous plants and animals, and historic places, as well as log supply arrangements.
The assessment is solely criteria based and the investor will not need to include a comparison between the benefits their investment will bring, and those provided by the vendor or a New Zealand investor. They would be required to replant after harvest, unless exempted, and use the land exclusively or nearly exclusively for forestry activities. The land can be used for accommodation only to support forestry activities.
Drone Safety and Regulation - Your feedback needed!
The Ministry of Transport and the Civil Aviation Authority (CAA) are currently reviewing New Zealand’s drone regulatory settings. They are considering potential regulatory options to address current and emerging issues from the use of drones. Your feedback on the below possible regulatory options would be greatly appreciated.
1. Changing who and what the rules apply to
Drones flown in New Zealand are subject to the Civil Aviation Rules, regardless of size or capability. The rules and the level of approval required to fly a drone are differentiated by weight (Rules 101 and Rules 102). The Ministry of Transport and the CAA are considering changes to how drones are categorised, to support a risk-based and proportionate approach.
2. Relaxing Part 101 requirements
This option is about including other rule updates in addition to the proposed changes under point 1 and covers alternatives to the consent provisions, relaxing spotter/observer requirements and reviewing the distance drones can fly from aerodomes.
3. Registration
New Zealand does not have a registration scheme for drones however, this is a potential option.
4. Operator competency
Another consideration is introducing compulsory basic competency testing requirements for Part 101 operators.
5. Remote identification/e-identification
This option refers to technology that sends out drone identification information during a flight, without needing physical access to the drone.
6. Geo-awareness/geo-fencing
The geo-awareness system will use virtual barriers to detect and restrict drones from flying into designated zones. The geo-fencing tool will project high-risk or sensitive areas, such as aerodomes, prisons, as well as other major areas.
7. Import and sales controls
Some stakeholders have recommended that Government introduce controls on the sale and import of drones, as a way of enforcing product standards for drones. Import controls for drones are likely to be costly and impracticable to enforce therefore, it is not deemed a viable option at this stage however, any feedback on how it can be a viable option is welcome.
8. Offences and penalties
An option that the Ministry of Transport and CAA are considering, is introducing low-level fines for less serious drone-related offences, similar to minor traffic or parking offences.
To access the full document, click here.
Please email your feedback on the above options to REINZ Advisory by 20 September 2019.
Verifiable Training
Auckland Verifiable Training
Wednesday 25 & Thursday 26 September
Registration deadline Thursday 19 September - a $50 per person late fee will apply after this date.
Auctioneering Fresh Starter Training
Monday 7 & Tuesday 8 October
Fun, interactive and engaging 2-day rookie auctioneer training facilitated by Mark Sumich. NV = 7 hours
Book now
Christchurch Workshop
Tuesday 8 October
Earthquake claims, withholding information, misconduct.
Book here.
Auckland C&I Workshop
Wednesday 25 October
Unit Titles Act, disclosure, commission disputes and more.
| Book here
Verifiable Dates for 2019
| Region | Dates | Location | |
|---|---|---|---|
| September | |||
| Auckland 2 | 25 - 26 | Events on Khyber | Book Now |
| October | |||
| Christchurch 2 | 16 - 17 | The Atrium | Book Now |
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 Josh Tesolin, Tom Panos, Jake Millar and Lisa King, the 2019 YPIRE Conference is one you do not want to miss!
For all REINZ Events, click here.
| Septmber | |||
| Inspire | Motivate | Connect Conference - LAST CHANCE! | 18 September | 10am - 7pm | Shed 10, Auckland |
RentalSmarts - How to use the Single page rental appraisal report
Watch the short instructional video showing the steps to create a single page rental appraisal, available in the RentalSmarts tool.
If you would like to subscribe, log in here and sign up for a 7 day free trial or visit the website for more information.
Z Fuel - New REINZ Member Benefit supplier
As a member of REINZ you’ll get even greater value with the new Z Business Partner offer. Sign up using the special code REINZ and save 8c per litre every time you stop at any Z, Caltex and Challenge.
With over 550 service stations nationwide you now have more choice than ever before, plus add your Fly Buys or Airpoints™ to your Z Business Partner account and earn rewards every time you fuel up.
This week on the blog: How customer experience impacts business growth
In real estate, where relationships are key to success, a great customer experience is imperative to strengthen customer satisfaction and retention levels. Each stage of a customer’s journey should be streamlined, engaging and even personalised - whether a customer is visiting a website, receiving support or advice, reading email communications, attending an open home or a branded event, viewing marketing material or interacting with staff.
Wanaka KiwiBuild houses 'overpriced' compared to open market
Bindi Norwell, REINZ Chief Executive spoke with One News around the KiwiBuild houses in Wanaka, saying it is great that the Government has reviewed the KiwiBuild criteria to make it easier for first home buyers to purchase property, by lowering the deposit required and allowing multiple parties to purchase together.
The Spring edition of Real Estate is now available!
If you have not yet received your copy, our would like to read a digital copy, click here.
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.
