In The Know
26 June 2019
Click the headings below to read more or visit the Property Management page
Aaron Davis takes out the 2019 REINZ National Auctioneering Championships
REINZ is delighted to announce that Aaron Davis from Harcourts Blue Fern Realty, Henderson, is the winner of the 2019 Championships. Robert Tulp from Harcourts Cooper & Co (Hobsonville) was the runner up in the senior competition.
Mark Morrison from Harcourts Auckland was the winner of the ‘Rising Stars Competition’ where a 13-strong field competed to take home the Colin Brown Memorial Cup which shows a promising future for auctioneering in New Zealand. Chris Greenhill from Harcourts Marlborough and George Yeoman from Bayleys (Auckland) were joint runners up in the Rising Stars section.
Pippa Morris from Diocesan School for Girls took home the trophy for the Schools' Auctioneering Championship.
Bindi Norwell, Chief Executive at REINZ says: “There was an extremely strong field of competitors in this year’s finals, and congratulations to all our competitors and Aaron for winning the competition. The preparation and training that these contestants go through in the lead up to this competition is nothing short of admirable. Every year I am impressed by the skill and determination put on show over the two days of competition, and we are looking forward to seeing Aaron and Robert competing in the Australasian Championships in October."
Changes to the Earthquake Commission (EQC) Act
Four key changes have been made to the Earthquake Commission Act 1993. An Information Sheet covering these changes and how they affect members will be out soon.
The changes are:
1. Increased scope for Earthquake Commission to share information with the public (implemented on 19 February 2019)
2. Immediate extension of the timeframe for lodging a claim from three months to two years (implemented on 19 February 2019)
3. Removal of the $20,000 (plus GST) EQCover for contents from July 2019
4. Increase in the cap on EQC residential building cover from $100,000 to $150,000 (plus GST) from July 2019.
REINZ will accordingly inform members once the Information Sheet is available on the Advisory section of the REINZ website.
Agent failed to see red flags and misled purchasers
This case concerned a Licensee who had marketed a property as having four bedrooms when the Council had only consented three bedrooms and an office.
Background
The complainants in this case were the purchasers of the property. They were aware that the ‘bedroom’ in question was attached to the garage, which was not attached to the property. Their lawyers received a copy of the LIM report, Record of Title and other information on the property, however, the purchasers never received a copy of the information which contained the house plans. After they had purchased the property, they gained access to the house plans from the Council as they were dealing with a plumbing issue. The house plans evidenced that the ‘bedroom’ was consented as an office. The drainage paperwork also depicted that the property was a three-bedroom home.
The purchasers then wished to market the property as a four-bedroom property but were told that they could only market it as having three bedrooms as the fourth room was not attached to the house and had no internal access to the bathroom. They stated that had they known that the property consisted of only three consented bedrooms then, they would have taken this into account when offering the purchase price for the property.
The Licensee responded and stated that the room complied with the minimum requirements under the Housing Improvement Regulations 1947.
Finding
The Complaint Assessment Committee (CAC) stated that the Licensee had obligations to check the Council documents and house plans in relation to marketing an additional room which was obviously not a part of the house itself. The CAC stated that the Licensee should have asked further information of the vendors as to the status of the room as opposed to relying on the fact that the room was being utilised as a bedroom.
The Licensee misled the purchasers as to what exactly they were purchasing and failed to undertake proper due diligence on the property when listing it. The Licensees actions were compared to that of the subsequent licensee for the purchasers, who noticed that there were only three bedrooms within the house and accordingly requested the house plans which recorded three bedrooms and an office.
A finding of unsatisfactory conduct was made.
You can find the decision here.
Tip:
1. A key lesson from this case is that agents must market the true reflection of a property and must not be misleading in relation to the characteristics of a property, in particular, the legal status of bedrooms.
WorkSafe Guidance on Quad Bikes
WorkSafe NZ has recently released guidance in relation to quad bikes, which is of relevance to members who use quad bikes to view rural properties.
It is understood that quad bike rollover accidents can happen on almost any part of a property to both inexperienced and experienced riders. As such, WorkSafe recommends that an alternative vehicle is used, or different work practices are implemented to avoid the risk of quad bike rollovers. If there is no reasonable alternative to using a quad bike, WorkSafe strongly recommends that a CPD (Crush Protection Device) is installed permanently as this is likely to prevent serious and fatal injury.
Worksafe is offering subsidies to enable CPDs to be installed.
To access WorkSafe's Policy Clarification, click here.
Misuse of REINZ Statistics
REINZ is currently experiencing an increase in complaints on breaches of the REINZ Statistics Authorised User Agreement.
REINZ Statistics can be used to:
1. Discuss the market condition in your normal real estate activities such as referring to REINZ aggregate statistics figures published in our monthly reports; and
2. For the purpose of an appraisal
You must appropriately cite REINZ as the source of data for the above permitted uses.
Members cannot use REINZ Statistics that identify properties, parties, prices and any other information considered to be ‘personal information’ under the Privacy Act 1993.
REINZ Statistics cannot be used to make comparisons between your agency’s sales with any other person’s or agency’s sales. An example of this breach would be, stating that your agency’s median sale price was a certain percentage higher than the REINZ median sale price for an area.
REINZ Statistics must not be used to substantiate representations about market share in your advertising or marketing materials. An example of this breach would be, stating that one in every two properties is sold by your agency.
Please also note that advertising sales and listings that are not your own is potentially misleading under the Fair Trading Act 1986. This can be corrected by listing the selling agent and agency or having a prominent disclaimer noting that not all the properties are sold by your agency.
Verifiable Training
Palmerston North Verifiable Training - LAST CHANCE
Wednesday 3 & Thursday 4 July
Registration deadline Thursday 27 June - a $50 per person late fee will apply after this date.
Nelson Verifiable Training
Wednesday 24 & Thursday 25 July
Registration deadline Thursday 18 July - a $50 per person late fee will apply after this date.
Online Verifiable Winter Special - 10% off
Book your online Verifiable Training Package before 28 June and receive 10% off the regular price.
Check online for a full list of regional training sessions or the online training packages!
Please note: In 2019 the AML Verifiable training topic is mandatory and no exemptions apply.
AML Roadshow 3
REINZ is delivering AML sessions in 15 locations across New Zealand this July and August. 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.
Find a session in your area and book now.
Check out the Roadshow poster.
Workshop: How to survive and thrive in the current market
Tuesday 23 July, Auckland
To become successful in this market requires a new smarter way of thinking. It also needs new scripts and dialogues and improved vendor and buyer management which was not needed for the past 6 years. This intense workshop will give you the tools, scripts, dialogues and processes to help you to thrive in this current market climate. NV = 2 hours.
Book now
Webinars
Code of Conduct
Presented by Richard Hern (Wynn Williams) this webinar will present a thumbnail sketch and basic toolbox for dealing with complaints and charges relating to the Code of Conduct.
Tenant Checking
Presented by Cody Knight (Illion Tenancy) this webinar covers what tenant checking is, the importance of tenant checking, legislation and your responsibilities, how to tenant check and information supplied in a tenant check.
Verifiable Dates for 2019
| Region | Dates | Location | |
|---|---|---|---|
| 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 Christchurch - Future Impacts
Thursday 11 July | BMW Christchurch Showrooms
Join us as our panel discusses the ins and outs of the future impacts on the real estate industry.
It's important that as a professional working in real estate industry, you know not only how the industry functions currently, but also how it is going to evolve over the coming years. There are many factors that impact the way we run our business, so we brought in the pros to help us figure out what we should expect.
Get your tickets now.
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.
2019 REINZ Awards for Excellence
Tuesday 27 August, Cordis Auckland
We are returning to Cordis Auckland for another Gala Dinner presentation of awards with MC Laura McGoldrick.
Buy tickets for the Gala Dinner here.
Enter the Awards here.
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.
| July | |||
| YPIRE - Future Impacts | 11 July | 5.30pm - 7.30pm | BMW Christchurch |
| August | |||
| Thriving in Changing Times | 2 August | 9am - 7pm | Hilton Hotel Auckland |
| Septmber | |||
| Inspire | Motivate | Connect Conference | 18 September | 10am - 7pm | Shed 10, Auckland |
REINZ RPM Statistics Portal
The REINZ Residential Property Management Statistics Portal gives property management members access to a variety of statistics and data tools such as rental market information including past and current rental market data and up-to-date rental medians drawn from a combination of MBIE, Statistics New Zealand and realestate.co.nz information.
Get started with the portal, search for active and past rentals in a selected area!
1. Go to Map Search
2. Enter your location
3. Refine your filters
4. Export your results to get the active or past rental data.
REINZ calls for research innovation challenge submissions - $20,000 Grant
Bindi Norwell, REINZ Chief Executive said: "A core part of REINZ’s strategy involves supporting innovation and progress. Combining our efforts with The Property Foundation seemed like a great way to support this strategy, as we can bring together REINZ’s access to our accurate and up-to-date data, and TPF’s support and expertise in connecting academia, the property industry and society. This challenge is designed to ultimately benefit our members, the wider real estate industry and those looking to buy or sell property."
REINZ launches new blog
REINZ has today launched its new blog page, where you will be able to find our latest market updates, industry news and featured posts.
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.
