Rising to the challenge - How Daniel O'Brien stays agile in a competitive market - Reinsw
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REAL ESTATE INSTITUTE OF NEW SOUTH WALES | NOV/DEC 2019 VOL 70/06
Rising
to the
challenge
How Daniel O’Brien
stays agile in a
competitive market
WHAT A NIGHT CHAMPIONS FOR CHANGE BETTER OUTCOMES
All the Awards for Excellence winners Chapter Committee achievements REINSW’s annual lobbying report card
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INSIDE
CONTENTS
REAL ESTATE JOURNAL
The Real Estate Journal
is the official magazine
of the Real Estate Institute
of New South Wales.
30-32 Wentworth Avenue
UPFRONT
Sydney NSW 2000 5 A word from the President
(02) 9264 2343
info@reinsw.com.au 6 In brief
www.reinsw.com.au
Managing Editor
PERSPECTIVES
Cath Dickinson 10 Rising to the challenge
0410 330 903 LJ Hooker Commercial South Sydney’s Daniel
journal@reinsw.com.au O’Brien is at the top of his game. Find out how he
Advertising stays agile in one of the most competitive markets
(02) 9264 2343 in the country.
advertising@reinsw.com.au
Content and editorial 14 Taking teamwork to new heights
Wordcraft Media The team at Nolan Partners is a shining example
0410 330 903 of how collaboration and teamwork yield
hello@wordcraftmedia.com.au
www.wordcraftmedia.com.au
exceptional results.
Art direction and design
Bird Project FOCUS
0414 332 146 17 Level up to build your best life
info@birdproject.com Leading real estate coach Sherrie Storor explains
www.birdproject.com
how you can create a career that affords you the
Printing lifestyle you want.
Bluestar Printing
www.ivegroup.com.au/ 32 Our champions for change
blue-star-print 18 Affordability no dent to property dreams
The past year has been a whirlwind of activity for
CoreLogic reveals insights into housing
Photography REINSW’s Chapter Committees.
affordability in their latest research report.
Studio Commercial
www.studiocommercial.com 36 Risky business
20 Oh, what a night!
Why it’s essential to identify potential risks and
The Real Estate Journal is Find out who took out the top gongs at the 2019
provided for general purposes put processes in place to mitigate them.
REINSW Awards for Excellence.
only. REINSW gives no warranty
and makes no representation
with respect to the accuracy, 26 Preventing identity fraud TRAINING
applicability, legal correctness Tips to confirm your vendor’s identity and their 38 Training update
or completeness of any of the
contents of the Journal. To the authority to sell a property.
extent permitted by law, REINSW
LAST WORD
excludes responsibility and 28 Working towards better outcomes
liability in respect of any loss 41 New members
arising in any way (including by Learn about the work REINSW has carried out
way of negligence) from reliance on behalf of members over the last 12 months. 42 In the media
on the information contained
in the Journal. The opinions
expressed in the Journal are
those of the respective authors
and do not necessarily reflect
those of REINSW.
Editorial contributions
REINSW welcomes editorial submissions from contributors within the real estate
profession. If you have an idea for an article or would like to contribute to the
Journal, please email journal@reinsw.com.au
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Partners
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REAL ESTATE JOURNAL / Nov–Dec 2019 / 3
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A WORD FROM THE PRESIDENT / UPFRONT
What a year!
There’s no doubt that 2019 has been a challenging year, but things are definitely looking
up as we head into the New Year.
Low stock levels, reduced auction clearance rates, improve processes and change job roles, it’s not
tightened lending conditions and falling consumer going to replace us.
sentiment have all forced us to reconsider the Yes, things are changing massively – and that
service and value we’re delivering to our clients. can be uncomfortable. But the human touch is at
And that’s just on the sales side. the centre of what we do. Technology can’t build
At the same time, property managers have a relationship, empathy or trust. That’s where we
experienced higher consumer expectations, come in.
increased responsibilities and a new regulatory It’s up to us to embrace the positives that
framework. Buyers’ agents, strata managers, technology offers and leverage it to add value
commercial agents and operational staff have all to the service we offer.
been faced with similar challenges. It’s been tough.
Yes, things Thankfully, the ScoMo effect seems to now be Building better relationships
filtering through and we’re seeing some positive This time last year, we were experiencing
are changing signs of a turnaround. Consumer sentiment is significant challenges in working with the NSW
massively – and trending upwards and auction clearance rates Government and NSW Fair Trading. I’m very
are the best they’ve been in 18 months. Though pleased to report that there’s been significant
that can be stock levels are still low, all signs are pointing progress in this space.
uncomfortable. to continued improvement. Better sales results Though we’ve declined the invitation to
will inevitably impact the number of properties rejoin the Real Estate Reference Group, we’re
But the human coming to market. working hard to develop a co-operative working
touch is at the In the midst of these challenges, there have relationship and are heavily involved in legislative
also been positive outcomes for our industry. consultation to ensure any changes are workable
centre of what on a practice level.
we do. Lobbying success
As you will be well aware, REINSW has been Thank you
fighting to improve education and training Finally, as we head into the festive season, I’d like
standards for more than 10 years. It’s been to say thanks to the Board of Directors and the
a long road and I’m thrilled that, finally, team at REINSW. Together we’ve had some major
comprehensive reforms will become a reality. successes, but there have also been difficult
The training reforms package was passed times and hard decisions. I’m proud that we’ve
by the NSW Parliament back in March 2018, but all risen to the challenge.
it’s only now that we’ve been given notice of an And to you, our members – thank you. You are
implementation date. On 23 March 2020, new the reason we’re here and your ongoing support
qualification standards will come into effect – and is invaluable.
this is a day that we should all certainly celebrate. Every new year presents new opportunities
The implementation of these reforms is an and I, for one, am looking forward to seeing what
integral piece of the professionalism puzzle. For 2020 brings us.
agents to be respected as professional advisors is
our end game – and entrenching higher education
standards is an important step on this pathway.
Leveraging technology
Technology also continues to impact our
industry. Importantly, we need to remember that
technological disruption is not the enemy. While Leanne Pilkington
it is effectively forcing us to change workflows, REINSW President
REAL ESTATE JOURNAL / Nov–Dec 2019 / 5
UPFRONT / IN BRIEF
MAKING THE
MOST OF YOUR
MARKETING
At a recent webinar, residential
sales agents Betty Ockerlander
and Thomas McGlynn encouraged
agents to go back to basics when
managing their money.
1 Write it down
Far too many agents have
no idea about how much money
they’re spending. Start by tracking
your expenses for a month. How Housing Data Dashboard now live
much is your mortgage? The kids The Federal Treasury, in conjunction creates a one-stop-shop for all levels of
school fees? The car insurance? with the Australian Institute of Health government, the community housing
How many coffees are you buying and Welfare has launched the Housing sector and the private sector to work
each day? It all adds up and you’ll Data Dashboard, bringing together together to identify shortfalls and
likely be surprised by the end figure.
approximately 7 million data points oversupply in order to address housing
from across 20 key national housing and and homelessness across Australia,”
2 Don’t live day to day
Income fluctuates for most
agents. When times are good
homelessness datasets.
Assistant Minister for Community
he said.
Users can draw out key information by
and commissions are coming Housing, Homelessness and Community creating a tailored dashboard from over
in, it’s easy to get caught up in
Services, Luke Howarth, said the 50 data tiles. Each tile is a gateway to
a spending cycle. But there will also
be bad times, so be sure to always dashboard covers the entire housing the data source, where detailed analysis,
put money aside to cover your spectrum – from housing financial data information on data quality and more
expenses when things get difficult. through to regional population changes is presented.
and homelessness estimates. You can access the dashboard at
3 Do quarterly reviews
Go through both your income
and expenses every three months.
“The Housing Data Dashboard housingdata.gov.au
This will help you to understand
whether you’re on track financially
or if you need to make adjustments COMPLIANCE IN FAIR TRADING’S CROSS HAIRS
to your budget. NSW Fair Trading’s latest compliance operation, which targeted 31 agencies across Sydney’s
CBD, south-west and west, uncovered more than 102 property law breaches. As a result,
You can watch the full 'Managing more than 30 fines totalling $40,000 were given to 13 different agencies and individual agents
cash flow and expenses' webinar – taking the total for 2019 to $400,000.
for free at reinsw.com.au/webinars “Inspectors predominantly uncovered non-compliance with the rules of conduct, licensing
and record-keeping requirements, as well as underquoting,” Acting NSW Fair Trading
Commissioner Peter Dunphy said. Compliance with trust account requirements, signage and
completion of continuing professional development were also targeted.
REINSW CEO Tim McKibbin stressed that real estate agents overwhelmingly did the
right thing and noted that the agencies and agents fined in this latest blitz were likely to have
committed lower-range breaches.
MISSED A WEBINAR?
You can catch up by checking out our “Penalty notices are for lesser offences, a bit like a parking fine,” he said. “However it does
full library at reinsw.com.au/webinars serve as a timely reminder to all agents that they must keep a watchful eye on compliance at
all times.”
6 / REAL ESTATE JOURNAL / Nov–Dec 2019
GREEN LIGHT FOR FIRST
HOME LOAN DEPOSIT
SCHEME The introduction
The Morrison Government’s election pledge to of the scheme
make it easier for first home buyers to enter into to support the
the market is moving ahead. home ownership
Under the First Home Loan Deposit
Scheme, individuals earning up to $125,000
aspirations for
and $200,000 for couples will be able to obtain 10,000 first
loans with a loan-to-value ratio of as much as home buyers is
95%. This means they’ll only be required to a key milestone
make a minimum 5% deposit on their home
loans. The government will underwrite their in delivering
home loans and will serve as the guarantor. this key election realestate.com.au
The government plans to start the annual commitment. puts more data in
program by January 2020, with a cap of 10,000
loans per year. Properties purchased under the agents’ hands
scheme will be subject to regional price caps to realestate.com.au has launched the Ignite
ensure equitable access across Australia. app enabling agents to track how their
Urban Development Institute of Australia listings are performing – anywhere, any
National President Darren Cooper said time – direct from their mobile device.
the scheme will be a great help for many Agents will also be able to view and
Australians who are finding it hard to respond to buyer enquiries on active
overcome the home loan deposit hurdle. and sold listings.
“Supporting eligible first home buyers who These capabilities, which were previously
have saved a 5% deposit by guaranteeing the only accessible to agents via their desktop,
balance of the 20% deposit through this scheme put the power of realestate.com.au campaign
is a great initiative,” he said. “It truly is a leg up reports and data directly into the hands
for them and could not have come at a better of agents.
time, since house prices have been increasing Ben Auchettl, the National Sales
much faster than household incomes.” Director – Residential at realestate.com.au,
The Housing Industry Association also explained that Ignite will be updated daily
welcomed the scheme. with the latest insights.
“The introduction of the scheme to support “We understand that agents are always
the home ownership aspirations for 10,000 on the go, so we designed Ignite to set
first home buyers is a key milestone in agents up for success,” he said. “It’s the first
delivering this key election commitment,” HIA time we’ve been able to offer this much
Managing Director Graham Wolfe said. data to our customers on mobile.”
“The First Home Loan Deposit Scheme will In addition to the new functions, up-
save an average first home buyer in Sydney, to-date campaign reports can be shared
with less than a 20% deposit, tens of thousands directly with vendors, enabling greater
of dollars over the life of their loan.” transparency and efficiency.
REAL ESTATE JOURNAL / Nov–Dec 2019 / 7
UPFRONT / IN BRIEF
Q hat responsibilities do landlords
W
and tenants have regarding swimming
pools?
A Section 52 of the Residential Tenancies
Act 2010 requires landlords to comply with
statutory obligations relating to the health and
safety of the premises, including obligations under
the Swimming Pools Act 1992. They must supply
a current Compliance Certificate to the tenant,
ensure fencing is compliant, and maintain and
repair any pool equipment (providing any damage
has not been caused by abuse or neglect).
Tenants are responsible for cleaning and Clothing drive helps women dress
adding chemicals to the pool as required. The
REINSW Residential Tenancy Agreement also
for success
includes clauses relating to things such as: First impressions count – and the team at DiJONES recently teamedup
vacuuming, brushing and cleaning the pool, with the charity Dress for Success to help disadvantaged women across
cleaning the filter and emptying the leaf basket; New South Wales make that first impression count.
having the water tested at a pool shop once Dress for Success empowers women to achieve economic independence,
a month; using appropriate chemicals and offering free clothing, styling and presentation skills.
keeping the water clean and clear; maintaining
“Working in real estate, we know all too well the importance of
the water level above the filter inlet; notifying
the landlord or agent as soon as possible of presentation and a good first impression,” DiJONES General Manager
any problems with the pool, equipment, gate or Kylie Walsh said. “Clothes matter from an emotional and psychological
fencing; and not interfering with the operation point of view. When we have something nice to wear, we feel more
of the gate, fence or barrier. confident, more prepared and more able to take on the world.
Often, it’s a good idea to arrange for a pool “Something as simple as a nice outfit can provide a confidence boost,
company (at the landlord’s expense) to instruct
the tenant at the start of the tenancy about
which makes all the difference when you’re going for a job or simply
pool upkeep. This can reduce problems down trying to do a good day’s work.”
the track. DiJONES has a philosophy of giving back to the local community
and the network’s donation drive to help Dress for Success was another
way for the team to get involved on a practical level.
“We have many women working across our DiJONES Offices – and
many of us have good clothes that we simply don’t wear anymore,” Kylie
Your Helpline is on hand said. “This is a simple way to make a real difference and help women
Receive practical advice on a wide range of real suffering financial hardship step back into the workforce.”
estate issues when you need it. No question is too DiJONES added a series of donation points to assist the cause, with
big or too small, and there’s no limit to the number their offices in Paddington, Wahroonga, Beecroft, Bowral, Neutral Bay
of times you can contact us.
and Mosman all accepting clothing. A total of more than 250 outfits
(02) 9264 2343 (select option 4) were collected, with agents and their families, as well as clients and
helpline@reinsw.com.au other community members generously making donations.
Find out more about Dress for Success at sydney.dressforsuccess.org
8 / REAL ESTATE JOURNAL / Nov–Dec 2019
PERSPECTIVES / COVER PROFILE 10 / REAL ESTATE JOURNAL / Nov–Dec 2019
Rising to the
challenge
A driven business owner, leader and negotiator, Daniel O’Brien is at the
top of his game. Here he explains what first attracted him to commercial
real estate and how he stays agile in one of the most competitive markets
in the country.
By TINA LIPTAI
D
aniel O’Brien realised early in his career the beginning, I loved that challenge and it’s
that there’s nothing quite like the thrill of something I continue to enjoy to this day.
closing a deal – and he’s never looked back. Because it’s a business deal, there’s a lot less
“I started out as a part-time law clerk while at emotion involved when compared to residential I’m focused
university, which I did for about 12 months, but sales and that’s really appealing to me.
I quickly realised that I’m not cut out for that sort “The stakes are very high in both the
on building
of work,” Daniel said. residential and commercial sectors, just in something.
“I like taking a broader view of things. I enjoy different ways. The highs are higher than anything
working with people and I wanted to have more I experienced working in residential sales, but
That’s one of
control over the things I was working on. the lows are also so much lower. It can be a daily the things I love
“With real estate, you don’t have to be bound rollercoaster. If a large deal falls through, you
to a desk to get results and, if you work hard, you might lose hundreds of thousands of dollars as
about having my
can basically dictate what you earn each year, the fees are generally a little larger – and that’s own business.
which I find very appealing. You’re in control of hard sometimes.”
your own destiny to a degree and that’s really
I’m creating
important to me.” Building for the future something not
Daniel started out in residential sales in 2002, After 12 years holding senior positions at CBRE and
where he worked for three years before he was then Knight Frank, Daniel started the LJ Hooker
only for myself,
drawn to the world of commercial real estate. Commercial office in South Sydney in the middle but also for the
“I realised I enjoyed the thrill of working on of 2016, where he now has 14 full-time staff. And in
larger deals,” he explained. “It was a big jump October of this year, he expanded the business to
people who work
for me to move across to commercial real estate include a second office, which is already one of the with me in
and a huge learning curve, but I was ready for largest commercial offices in Sydney’s Inner West
the challenge. (having been the Ray White Commercial Inner West
the business.
“One of the biggest changes I experienced franchise for the last 10 years).
– and what I really enjoy about working in the Daniel has plans to add more offices in the
commercial sector – is being able to work coming years. In part, his motivation to continue
closely with business people. I get to negotiate to grow the business comes from the clients he’s
with people who negotiate for a living. From worked with over the years.
REAL ESTATE JOURNAL / Nov–Dec 2019 / 11PERSPECTIVES / COVER PROFILE
“Real estate is a people business and I’ve “Being the owner of two offices, I find there
built relationships with many interesting and very are many and varied demands on my time. But
successful clients in the commercial world,” he being prepared to say ‘no’ to things that take me
said. “I’ve met many clients who are incredibly With real estate, away from what I love to do is best for both me
inspiring to me, because they’ve made it on their and the business. I want to be meeting as many
own having built really successful businesses
you don’t have potential clients, showing as many buildings and
from nothing. to be bound to putting together as many deals as I possibly can,
“When you’re constantly working with people so I prioritise those things. However, it’s getting
who have forged their own way, it makes it feel
a desk to get more difficult as the business grows”.
a little less daunting to have your own business. results and, if Goal setting is particularly important to Daniel.
I’m focused on building something. That’s one of “Personally, I don’t have a lot of processes in
the things I love about having my own business.
you work hard, place for how I work, but I do like to set and hit
I’m creating something not only for myself, but also you can basically goals,” he said. “I have daily, weekly and monthly
for the people who work with me in the business. goals. and I hold myself accountable.
“Seeing the team grow and develop is really
dictate what you “For example, I try to have 10 new business
rewarding to me. I want to provide opportunities earn each year, meetings every week – that’s a good week
to my team that simply aren’t possible in the for me. Meeting new people, in addition to
case of a larger global firm, such as equity in the
which I find very maintaining relationships with contacts is very
business and other incentives. I want to share appealing. You’re important to me, so this is what I am always
that feeling of owning and building something striving for.”
to be proud of with the people in my team.”
in control of your Daniel says his genuine interest in finding out
Although he has some serious plans for own destiny to what people need from each transaction has
expansion, Daniel said it’s important for him been key to his ongoing success.
to maintain the same values and agility that has
a degree and that’s “I’m good at quickly working out people’s
been behind his success to date. really important motivations and their pain points,” he said.
“Deals often come down to who you know, “Motivation and pain are the two levers for
the relationships you have and what value you can
to me. every side of a deal and are basic drivers of all
add to that deal,” he said. “It’s not always about the human behaviour in general. Knowing what the
company you work for. It’s about you as a person motivations and frustrations of both parties are,
and who wants to do business with you. allows you to bring people together and close
“Mine is a very small business by commercial that deal faster.
real estate standards, but I like that. I want the “I am honest and very direct, which is important
business to remain agile. We deal with who we in my role. My staff and clients always know
want to deal with – and I do like the feeling of where they stand with me, which builds trust and
being the underdog.” is vital in this business.
“I also think I have developed resilience
Resilience and facing challenges working in this industry. There is no such thing as
Like so many business owners, Daniel finds an ‘okay day’ in commercial real estate. It’s either
one of his biggest challenges is protecting his amazing or awful. As someone said to me a few
time. Despite not being a ‘process person’, years ago, it’s ‘champagne or razor blades’.
he does have ways to ensure he gets the most “I’ve learnt to put a bad day out of my mind
out of every day. when I leave the office and I don’t bring any
“Protecting my diary and maintaining a listing outside issues to work. Being present and
pipeline and deal flow is a constant challenge,” dealing with things in the moment is one of the
he said. best things you can learn to do.”
12 / REAL ESTATE JOURNAL / Nov–Dec 2019Why I love real estate
Daniel said he loves the adrenaline hit that comes with working in commercial such professional negotiators, but the challenge allows you to personally get
real estate. better with each deal and hone your craft.”
“Sometimes it’s because you’ve beaten competitors to close a deal or The fact that there is very little weekend work and less emotion than in
you’ve been successful in a challenging negotiation,” he explained. “It varies residential sales is something Daniel values about commercial real estate.
from day to day, but it’s addictive and better than anything else I’ve done. “The stakes are still very high, but in a different way to working with
“I also enjoy the challenge of dealing with professional business people. people who are selling their generational family home,” he said.
Every day, I’m negotiating with MDs, CEOs, CFOs, developers and professional “As a team leader, I also really enjoy watching the agents in my team ride
investors who are all accomplished, driven and are great negotiators the rollercoaster of working towards and eventually closing a deal. Watching
themselves. It can be extremely difficult when both the buyer and seller are them succeed gives me a real sense of pride.”
Becoming an industry leader Daniel’s tips for making a mark in
“Sometimes I like the idea that I am a leader,” Daniel said. “Other
commercial real estate
times, I cringe at the thought and I’m not always sure that I am
doing it right.
“That’s why I believe every leader also needs to have their own
1 Embrace rejection and be resilient. Some days it will
feel like you’ve taken more hits than Google, but you have
to get up and keep going. Make rejection and failure your
mentor. You need someone outside your business to bounce ideas friends – or at least get used to them. And don’t be scared
off, give you advice and keep you on track. They can help you to to fail.
be the best you can be for your team.
Daniel said he doesn’t subscribe to a particular type of
leadership style. Instead, he simply does what feels right and
natural to him.
2 Commercial real estate is a long game, so form good
habits and just keep at it. If you genuinely want this to
be your career, you need to invest in your future. Always
“I also look back on managers and leaders I’ve had experience give the right advice to your clients, even if you know
with and either replicate what I think they did well or try to avoid it’s not going to result in a deal or turn into money in
doing things that I don’t think worked. the next month or year. Your clients will appreciate your
“One thing I’m proud of in our business is the ‘team to win’ advice and you’ll be their advisor for life.
culture we’ve built. Everyone understands they have their own
roles, but we need to work together.
"We also value having a real sense of fun. You spend so much
time in the office, it’s important you enjoy it. I do, and my team tell
3 Be genuine and honest. Your reputation and integrity
are the most important things you have, so make sure
you value them above all else.
me they do too. This is vital if you want to keep great people and
also keep your business growing.”
Daniel said part of leadership is giving back to the community.
“I don’t really like to talk about the specifics of what I do, but I do
4 Remember, “you’re growing or you’re dying”. Keep
evolving and try to stay open to new things. Have daily
and weekly goals to keep yourself accountable. When you
think everyone should give back if they can,” he said. “Personally, can afford it, get a coach. It’s definitely worth it. You have
I’ve chosen a cause that I feel strongly about and I prefer to throw to keep learning. Even the best sportspeople in the world
my full support behind one charity or organisation, rather than have a coach and a mentor, so they can keep improving.
giving a little to a lot of different charities.
“But I think everyone has their own way of doing things, and
what’s important is that it’s meaningful to you and you’re helping
people who really need it.”
5 Be accountable. Work hard in your first few years to
build a solid platform for yourself. Say your goals out
loud – it makes them real.
REAL ESTATE JOURNAL / Nov–Dec 2019 / 13PERSPECTIVES / AGENCY PROFILE
Taking teamwork
to new heights
With many years of combined experience in the industry between
them, and a desire to offer a personalised approach focused on
premium marketing and exceptional service, Scott and Melissa Nolan
established Nolan Partners in 2004 – and they haven’t looked back.
By HEDGIE GUNDRY
When Scott and Melissa Nolan first met at Orara have very different management styles and
High School in Coffs Harbour back in the 1980s, bring different strengths to the business,
the stars aligned – not only for a successful it definitely works.”
marriage, but also for a rewarding and dynamic
real estate business partnership. Collaboration and teamwork
Now the leading real estate agency in Coffs So what’s the secret to their success?
Harbour, Nolans is focused on its core business of As a family business, Scott and Melissa
residential sales and property management, with work hard to create a team-orientated culture
expanding commercial and holiday management that places a high value on collaboration. Their
services. Nolans is also renowned for its project continual investment in their people is reflected
sales and marketing expertise, having marketed in an industry-low staff turnover. People ask us all
many of the major Coffs Coast residential “Our supportive workplace instills both
development projects in the last few years. professional and personal confidence,” Scott
the time, ‘how
The successful husband and wife team explained. “We genuinely get excited by seeing do you all work
recently opened a second office in the people grow. If people are growing, they're
neighbouring community of Sawtell, providing enjoying their job and they're becoming better
together?’ But we
residential sales and leasing services, along with people – and this positivity flows through to our love it. Because
a quickly expanding holiday rentals department. customers and clients.
And with a well-established team of 20, Nolans “Many of our team members have been with
we all have
continues to go from strength to strength within Nolans for seven years or more. We don’t lose very different
the Coffs Coast market. people, because we continue to invest in training
and education, and we encourage everyone to
management
Family affair be the best they can be. Weekly team training styles and
The Nolan family has been part of the local Coffs is huge for us and we support individuals to go
Harbour community since 1928 and Melissa’s on to obtain their Real Estate Licence. Sixteen
bring different
family moved to the area in 1972. For Scott and out of our team of 20 are now fully licensed, strengths to
Melissa, developing strong relationships built which is a great achievement.
on honesty and trust is at the heart of their family “But we’re also focused on helping people
the business,
run business. be successful in their personal lives as well. it definitely
“Continuing the family tradition, our youngest We encourage open discussions around
son Billy joined our Coffs Harbour office in 2016 personal growth and development. We've always
works.
and now runs our marketing for both offices. understood that when people come to work
He’s also a valued member of our sales team,” with us, inside these four walls, we need to MELISSA NOLAN
Melissa said. provide a safe place. Real estate is a tough Nolan Partners
“People ask us all the time, ‘how do you all business to be in, so we take this responsibility
work together?’ But we love it. Because we all seriously,” he added.
14 / REAL ESTATE JOURNAL / Nov–Dec 2019Melissa added: “We’re big on having an much on technology and run the risk of losing our
engaged team pulling in the same direction point of difference and relevance. We sometimes
– and the benefits are huge. There's now an forget we’re in a relationship business.”
expectation that when you meet someone from
Nolan Partners it’s consistently going to be Community spirit
a high-quality experience.” This desire to focus more on relationships mirrors
Nolans’ involvement with the local community.
Back to basics As a longstanding local family and established
With decades of real estate experience between real estate brand, the team supports a variety
them, Scott and Melissa have strong, finely- of national organisations such as R U OK? and
tuned systems in place to manage both sales the Pink Silks Foundation, but is largely focused We've always
and property management processes to the on local charities, schools, sporting teams
highest of standards. But in a quieter real estate and individuals.
understood
market, they’ve taken their team back to basics Scott and Melissa stress that they do not that when
and are focused more on good old-fashioned strive for recognition or publicity with their
relationship building. community work.
people come
“This has been a huge shift for us in the last six “For us it’s our corporate responsibility to give to work with
months,” Melissa explained. “In our view, agents back and support our local community,” Scott
who can build solid and trusted relationships with said. “We also encourage our team to become
us, inside these
their clients will survive and thrive. A good agent actively involved with causes close to their hearts four walls, we
is no longer about the best technology or even the and we’re always happy to help where we can.”
best scripts and dialogues. It’s about the agents
need to provide
who can build the best relationships.” The future is bright a safe place.
With this shift in focus, Scott and Melissa So what will the future bring for Nolans?
have been working with the Nolans team to grow “We’re proud to have been a big part of the
We take this
their relationship building and leadership skills. Coffs Coast community for 15 years and are responsibility
The feedback from clients has already been looking forward to consolidating our market
overwhelmingly positive. leading position into the future,” Scott said.
seriously.
“As an example, we've spent a lot of time “We’re moving to new offices, which will enable
recently encouraging our team not to text or email, us to create a really exciting and engaging SCOTT NOLAN
but to pick up the phone instead,” Scott said. working environment for our team and also Nolan Partners
“In our experience. people are seeking personal a great space for our clients.”
contact. They want to talk to you, rather than “There are also some significant infrastructure
having to check a new app or website or receive projects underway in Coffs Harbour and we’re
an email. I think this is where the industry has lost really looking forward to seeing what the next
its way a little bit. As a whole, we’ve relied too 15 years bring,” Melissa added.
REAL ESTATE JOURNAL / Nov–Dec 2019 / 15REAL ESTATE EMPLOYERS’ FEDERATION The real estate employment specialists since 1966 SHARKS CIRCLING? WE’RE YOUR LIFE RAFT. We’ll rescue you from workplace based claims. The REEF team has extensive experience helping real estate employers defend employment claims. Our advocacy service is complimentary when you join REEF. We’ll represent you at hearings, prepare documents on your behalf and conduct negotiations throughout an employment dispute. We’re on hand to work with you every step of the way. Join REEF today Call 1300 616 170 or email admin@reef.org.au. Download an application form at www.reef.org.au. We’ll throw you a life jacket when things get rough.
COACHING CORNER / FOCUS
Level up to build your best life
A job in the real estate industry can be bountiful and offer us the
flexibility to create the lifestyle we want. But, to build your best life,
you need to have a clear vision of what that lifestyle looks like.
By SHERRI STOROR
It’s important to highlight that your best life is • Look at your listing presentation. What
different to everyone else’s. You need to focus on is your close rate? Does this need to improve?
what you want, whether it’s building an empire, Your listing presentation is incredibly
retiring early, working less or even giving more important. Is there any point in prospecting
back to the community. if you don’t have the ability to close the listing
presentation? The listing presentation is the
What does your best life look like? ‘championship event’ – you need to train for
This is the first thing that you need to get down it to win.
on paper. • Find your edge. Have you found your edge?
Get really clear on how you want to live your What is it that sets you apart from your
life and what you want to experience. Think about competitors? When asked this question,
your health, family, relationships, lifestyle, personal are you selling your services and what makes
growth, career and finances. It’s important to give you different as an individual? Or are you
this step the time and energy it deserves, as it just reciting bullet points in the process?
impacts on how you structure the rest of your life. • Have critical conversations. How strong
are you when it comes to critical conversations?
How much will your best life cost? This is another part of the process you need
The next step is to figure out the dollar amount that to get strong at. I’m talking about all those
will afford you the ability to live your vision. It may uncomfortable conversations around price
be a stretch from where you are now. Or it may be changes, low buyer submissions and
less. Either way this figure helps set the baseline. revisiting advertising.
Then work backwards, using this dollar figure By conducting an in-depth audit of your
as your end goal. It’s time to set goals – quarterly, business and all its layers, you’ll be able to see
yearly and long term – to plan out what you need where the holes are and what needs improvement.
to do to reach this figure. You may need to consider further education, either
through courses or using a coach.
What do you need to do to achieve Start with yourself, so you can dominate the
your best life? marketplace in the letterbox, on digital platforms
Once you have your vision and goals mapped out, and offline. You’ll then be able to build from
it’s time to assess what you’re currently doing and there, adding what you need to achieve your
find out where you can level up. goals – systems, structures, processes or even
This stage can be confronting, as you may a team.
be calling yourself out on how you operate. But The life and level of success you dream of is
know that everybody has room for improvement all within your reach. You’ll have to work hard to
in different areas of their lives. Being really honest put the footings in place, but that hard work will
with yourself here gives you the leverage to well and truly point you in the right direction to
massively level up your success. level up your business and build your best life!
• Audit your current skillset. Are you the
best that you can be? Do you need to look at
changing the way you’re doing things? What
SHERRI STOROR
do you need to improve, fix or change?
is a leading real estate coach,
• Consider how you are using your time at
mentor, speaker and agent.
work. Are you using it productively? Are you
being dollar productive?
REAL ESTATE JOURNAL / Nov–Dec 2019 / 17FOCUS / HOUSING AFFORDABILITY
Affordability no dent
to property dreams
CoreLogic has released the 2019 Perceptions of Housing
Affordability report, delving into what Australians are
thinking and feeling about property, and exploring their
hopes and dreams.
In the past decade, there’s no doubt that
Australians have found it harder to buy
a home.
Affordability significantly worsened
1 The Australian dream
is still alive
Yes, affordability has deteriorated over
2 Unholy trinity presents
a challenge
Lisa Claes, CEO of CoreLogic
during the market’s growth phase that recent years, but our drive and passion International, explained that Australians
ran from early 2012 to mid-2017, when to own our own piece of Australia remains. are struggling with the “unholy trinity”
prices rose rapidly, particularly in Sydney CoreLogic reports that more than four of obstacles when buying a house.
and Melbourne. out of every five Australians believe it’s “First, they must raise a deposit.
But worsening affordability hasn’t still important to own a home. And, in Then gain approval for a loan, which has
dented the Great Australian Dream good news, just over half of Australians become tougher in the wake of increased
of owning our own property. As think affordability has improved over prudential regulation and the Financial
CoreLogic’s latest research reveals, the last year, with falling house prices Services Royal Commission. And finally,
even the youngest generation, who and record low interest rates easing they have to fund stamp duty,” she said.
have faced the toughest time getting affordability concerns. “It’s not surprising, therefore, that while
into the housing market, remain But Tim Lawless, Research Director half of Australian’s thought affordability
passionate about home ownership. at CoreLogic, warned of complacency, had improved, more than 80% are still
Here are some key findings from as the Australian property market remains concerned about being able to afford
the report. fundamentally unaffordable. their first or next home.”
“Key affordability ratios show it is
difficult for Australians to afford a home
and repay a mortgage,” he said. “The
recent gains in affordability could be
Top 3
obstacles to home ownership
quickly lost if the early trend towards
higher prices is sustained.”
Saving for a deposit
think housing affordability
has improved over the
last year
Loan approval
believe home ownership
is important
Stamp duty
are concerned about
being able to afford their
first or next home
18 / REAL ESTATE JOURNAL / Nov–Dec 20193 Cubby house syndrome
worsens
The research found that the ongoing
4 The ‘bank of Mum and Dad’
is an attractive option
Amid the ongoing housing affordability
5 Stamp duty and concessions
must be addressed
CoreLogic’s report found that across all
affordability crisis is entrenching crisis, more Australians, particularly generations, Australians are united in their
a generation who are dependent on their young people, are turning to family growing opposition to stamp duty.
parents for housing, with the number of for help. In fact, a quarter of Millennials “Baby Boomers lead the growing
Millennials giving up hope of moving out said family assistance to raise a deposit opposition to stamp duty, with close to
of home by 30 years of age surging. would be a great help when buying their 9 out of 10 of them agreeing that reducing
“The ‘cubby house’ syndrome – first home. or removing stamp duty would improve
where children are prolonging their “The ‘bank of Mum and Dad’ – where housing affordability,” Mr Lawless said.
home stay with parents – is intensifying,” young people rely on their parents “This view is gathering momentum.
Ms Claes said. “Our youngest generation to support their entry into the housing The backlash against stamp duty is likely
is effectively being locked out of the market, either by helping with a deposit to continue given that the impost and
market and are increasingly dependent or assisting with loan repayments – is inefficiency of stamp duty prevents many
on parents. becoming one of the last sources of Australians from buying a home.”
“If Millennials’ affordability hope for Millennials,” Mr Lawless said. The report also found there continues
disillusionment continues, we risk Despite the challenges Millennials to be support for grants and concessions,
entrenching a generation who become face, the great Australian dream of home but these needed to be viewed with
disenfranchised from society. It raises ownership burns brightly. caution.
serious issues around inter-generational “They haven’t given up – they want to “Boosts to the first home buyer grant
equity and should be a catalyst for own their own home,” Mr Lawless said. and stamp duty concessions have had
policy makers to address affordability “In fact, by being denied it, they want it instant responses from first home buyers
at a foundational level.” even more.” in the past,” Mr Lawless said. “But despite
that popularity, grants and concessions
have the potential to actually worsen
of people living with their
parents can’t afford to leave Millennials affordability by stoking demand and
pushing prices higher in the short term.”
who struggle with affordability the most,
are most passionate about home ownership
of those living at home of Australians think removing
say they’ll be 30 before stamp duty is the best strategy
they move out of Millennials said family
to improve affordability
assistance to raise a deposit
would be great
of Baby Boomers support
reducing or removing
of Millennials view financial
stamp duty
support from their family to pay
their mortgage favourably
REAL ESTATE JOURNAL / Nov–Dec 2019 / 19FOCUS / AWARDS FOR EXCELLENCE
Oh, what a night!
The real estate industry’s talent, expertise, dedication and professionalism
were all on show as REINSW members from across New South Wales celebrated
the best of the best at the Awards for Excellence Gala Dinner.
The last 12 months have been tough for many agents. Difficult The judges certainly had their work cut out for them!
market conditions and low consumer sentiment have been “All the finalists reflect outstanding professional expertise,
a challenge. But it looks like we’ve turned the corner and agents talent and skill, and our winners exemplify the highest
embraced the opportunity to celebrate at REINSW’s night of standards of service and innovation that continue to drive
nights on 19 September 2019. the real estate industry in New South Wales from strength
“Tonight, the achievements of our industry are on full display to strength.
and there’s an astonishing amount of talent in the room,” “From those just starting out in their career to some legends
REINSW President Leanne Pilkington said as she opened of the real estate industry, the 2019 winners of the Awards for
the evening’s proceedings. “With so many deserving finalists, Excellence are deserving of the highest honour we can bestow.
choosing the winners this year has been extremely tough. “Congratulations to all our winners and finalists!”
20 / REAL ESTATE JOURNAL / Nov–Dec 20191 2 1 ACHIEVEMENT
TAYLAH VINE
Dowling Real Estate Raymond Terrace
2 AUCTIONEER
LEON AXFORD
Starr Partners Blacktown
3 BUYERS’ AGENT
SHELLEY HORTON
Albion Avenue
3 4 4 BUYERS’ AGENCY
PROPERTYBUYER
5 COMMERCIAL AGENCY – SMALL
YOUR COMMERCIAL PROPERTY SPECIALIST
6 COMMERCIAL AGENCY – LARGE
CBRE
7 COMMERCIAL PROPERTY
MANAGER
6 HELEN STOREY
CBRE
8 COMMERCIAL SALESPERSON
JOSHUA CHARLES
One Commercial Property
5
7 8
For all the photos from the night,
head to the REINSW Facebook page at
facebook.com/REINSW
REAL ESTATE JOURNAL / Nov–Dec 2019 / 21FOCUS / AWARDS FOR EXCELLENCE
9 COMMUNICATION 9 10
DIJONES REAL ESTATE
10 INNOVATION
RAINE & HORNE TERRIGAL – AVOCA BEACH
11 JOHN GREIG OAM COMMUNITY
SERVICE
DAMIEN COOLEY
Cooley Auctions
12 OPERATIONAL LEADERSHIP
11
TENNILLE MUDRIDGE
Home Specialist Property Management
(accepted by Crystal O’Keeffe)
13 OPERATIONAL SUPPORT
EDWARD GORDDARD
Colliers International
14 PROPERTY MARKETER
MICHAEL CROMBIE
Colliers International
15 REAL ESTATE AGENCY – SMALL
MOLENAAR + MCNIECE
12 13
14 15
22 / REAL ESTATE JOURNAL / Nov–Dec 201916 17 16 REAL ESTATE AGENCY –
MEDIUM
CALLAGHER ESTATE AGENTS AND KELLYS PROPERTY
17 REAL ESTATE AGENCY – LARGE
HIGHLAND PROPERTY AGENTS
18 RESIDENTIAL PROPERTY
MANAGER
LAETITIA JONES
Home Specialist Property Management
18
11 19
19 RESIDENTIAL PROPERTY
MANAGEMENT TEAM
RAINE & HORNE NEWTOWN
20 RESIDENTIAL SALESPERSON
BETTY OCKERLANDER
McGrath Estate Agents
21 RESIDENTIAL SALES TEAM
MORTON REAL ESTATE
20
22 RURAL MARKETER
SAM TRIGGS
Inglis Rural Property
21 22
For all the photos from the night,
head to the REINSW Facebook page at
facebook.com/REINSW
REAL ESTATE JOURNAL / Nov–Dec 2019 / 23FOCUS / AWARDS FOR EXCELLENCE SPONSORS 24 / REAL ESTATE JOURNAL / Nov–Dec 2019
The industry’s ‘go-to’ man
Joining the honour roll of Woodrow Weight Award recipients, Chris Hanley
was recognised for his outstanding contribution to the industry.
“The Woodrow Weight Award is REINSW’s highest of Australia’s top companies to develop positive
honour and bestowing it each year is a time- organisational cultures.
honoured tradition,” REINSW President Leanne “It’s no wonder his own agency has the best
Pilkington said when introducing the award. sales record in the region, has consistently Chris rightfully
“When you look at who has received this award been awarded for its achievements, boasts an
since its inception in 1989, it really is a who’s who exceptionally high staff retention rate and sets
prides himself
of our industry. It’s an honour roll of our industry’s best practice standards in employee satisfaction,” on running
great’s – and Chris Hanley is a most worthy Leanne said.
recipient to stand among them.” “Chris is always very generous with his
an ethical,
Well-known across the industry, both in New time and shares his professional wisdom with sustainable
South Wales and nationally, Chris exemplifies the everyone who crosses his path.”
best the profession has to offer. In recognition of his commitment to the industry
business that
“Chris started his real estate career in 1980 and his local community, Chris was recently employs, trains
and for the last 20 years has been the Principal of honoured with an Order of Australia medal.
First National Byron Bay,” Leanne said. “He is the “His personal commitment to assist those
and retains the
‘go to’ man for all matters of real estate. He can in need was tangibly demonstrated with best local staff.
tell you when a property was last sold, what price the development and delivery of the RISE
it achieved, who purchased it and what it’s likely Conference earlier this year in response to
to sell for in today’s market – all without turning the tragic massacre that occurred in that city,”
on a computer or scrolling through his iPhone. Leanne explained. “More than 300 real estate
“Chris rightfully prides himself on running professionals from Australia and New Zealand
an ethical, sustainable business that employs, came together to raise funds for the victims’
trains and retains the best local staff. And his families.
achievements are built on a foundation of honesty, “Without doubt, Chris is one of the most
transparency and a results-driven strategy.” inspiring, valued and respected members of the
Since 2005, Chris has been engaged by some profession that we’re all privileged to work in.”
REAL ESTATE JOURNAL / Nov–Dec 2019 / 25FOCUS / COMPLIANCE
Preventing identity fraud
Vendor identity fraud is more
common than it should be,
yet many agents still have
not implemented prevention
procedures to protect themselves.
Here are REINSW’s tips to ensure
you know who your vendor is and
whether they have the right to sell
the property.
1 2 3 4 5
Read the
guidelines
Confirm identity
You should verify the
Fill in the checklist
The Real Estate
Keep the checklist
on file
Confirm legal
ownership of
NSW Fair Trading’s vendor’s identity from Fraud Prevention Once filled in, place the the property
Real Estate Fraud an original photographic Guidelines include completed Checklist
You must verify
Prevention Guidelines document, such as a Proof of Identity on the sales file. This
the ownership of
outline a clear set of a current driver’s Checklist for Vendors. ensures it is readily
the property from
procedures to protect licence or passport. You should complete available in the future
an original or certified
agents from vendor Alternatively, the this straightforward should Fair Trading
copy of a primary
identity fraud. The vendor’s identity may checklist with every request inspection.
property ownership
Guidelines are designed be verified by way vendor and ensure
document, such as
to protect agents of two secondary the relevant details
a certificate of title or
against people claiming non-photographic are carefully recorded.
document conferring
to be legitimate vendors. documents (original
the power of sale.
You should familiarise or certified copies),
Cross check these
yourself with the such as a current
details against the
Guidelines. Medicare card, credit
verified identity of
card, electricity bill
your vendor.
or rates notice. When
confirming the vendor’s
identity, always do
so in a face-to-face
environment.
26 / REAL ESTATE JOURNAL / Nov–Dec 2019You can also read
