Coaching advice from Tom Panos
REINZ hosted real estate coach Tom Panos last Friday at Events on Khyber. Tom delivered a strong message about what you need to be doing to succeed in this industry - being second-rate is not an option!
Tom shares the key takeaways from his session in this video.
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
Non-Verifiable Education
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.
Verifiable Training
Christchurch Verifiable Training
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 - JUST ADDED
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.
| 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 | Hamilton Golf Club, Hamilton |
Case Update: Landlord liable for failure to provide consistent hot water
Facts: The Property had an external hot water heater. When the Tenant moved into the Property in 2017, the water was scolding hot. In May 2018, as the temperature outside got cooler, the water temperature dropped. The Landlord’s plumber advised that the Tenant should shower in the afternoons when the temperature outside was higher. On 23 August 2018, the Tenant issued a 14-day notice requiring the Landlord to remedy the hot water issue. The next day the Landlord issued a 42-day notice to terminate the tenancy. The Landlord said that her daughter was going to use the Property for her business. The Tenant claimed this notice was retaliatory.
Decision: The Tenancy Tribunal explained that the Housing Improvement Regulations 1947 require that every bathroom has an adequate means of heating water. This should not depend on the time of day or the weather outside. Considering the amount of rent and length of inconvenience, the Tenant was awarded $40. The Tribunal explained that a notice will be retaliatory if it is wholly or partly motivated by a tenant exercising a right available to them. In this case the 42-day notice was issued the day after the Tenant’s 14-day notice and this gave rise to an inference that they were connected. It followed that the notice was retaliatory. The tenancy had ended by agreement, so it was not necessary to set the notice aside. However, the Tribunal can award exemplary damages where an unlawful act, such as issuing a retaliatory notice, is committed intentionally. The Tribunal explained that there is a strong public interest in landlords not issuing retaliatory notices. Exemplary damages of $200 were awarded.
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 for misrepresenting view and privacy
Facts: Licensee 1 was marketing the Property which had a new property being constructed adjacent to it. The Purchaser made clear to Licensee 1 that she wanted a house with privacy and views. Licensee 1 assured the Purchaser that the views would not be obscured by the new property. Licensee 2 was responsible for supervising Licensee 1. He failed to do so. For example, he did not review misleading marketing material which showed the expansive view. The Complaints Assessment Committee found both licensees guilty of unsatisfactory conduct. The Purchaser sought a host of remedies including the loss in value of the Property.
Decision: The Complaints Assessment Committee explained that professional disciplinary proceedings do not provide a forum for compensatory damages. Instead, the Committee should ask whether the licensee can rectify the error or omission and if not, determine what relief is available. If the error or omission could not be rectified, the Committee could, for example, award the costs associated with reselling the property. Here, the Purchaser implied that she intended to sell the Property but did not commit to do so and as a result the Committee could not award these costs. The Purchaser had also commenced civil proceedings against Licensee 1 and this was the appropriate forum for compensatory damages. In determining the appropriate sanction, the Committee recorded that Licensee 1 had an unblemished record. Fines up to $10,000 could be issued for unsatisfactory conduct and this was at the serious end. In this case, a fine of $7,000-$9,000 was proportionate to the conduct but this was discounted to $6,000 because of the unblemished record. Licensee 2 also had an unblemished record. His conduct was at the lower end of unsatisfactory conduct and he had responded diligently to the case against him. The Committee found that a $2,000 fine was appropriate.
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.
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.
New REINZ Member Benefit Partner
REINZ is pleased to announce TaxSnaps as our newest REINZ Member Benefit partner. TaxSnaps is a cloud based expenses app, ideal for those who are self employed and want to keep good records of tax deductible expenses but don't need or want accounting software.
TaxSnaps is pleased to offer a 30 day, no obligation free trial and a 20% discount for REINZ members on an annual subscription (discount code: REINZFY19). To find out more check out www.taxsnaps.co.nz/realestate
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.
Increase in sales leading up to deadline for New Zealand foreign home buyer ban
REINZ Chief Executive Bindi Norwell recently spoke to The Real Estate Conversation about the Foreign Buyer Ban that will come into effect from 22 October.
Norwell commented: "Increasing the level of supply, speeding up the consenting process, creating consistency at Councils around New Zealand and reducing loan to value restrictions for first time buyers are all more appropriate measures that will help with affordability ahead of banning offshore investors."
“Now the Bill has received Royal Assent, REINZ is currently working with the Overseas Investment Office to help ensure the industry understands the requirements to comply with the Act.”
Read the full article 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.
