Real Estate Institute of Australia Article courtesy of Deloitte 16 Thesiger Court I PO Box 234 Deakin ACT 2600 Phone (02) 6282 4277 I Fax (02) 6285 2444 www.reia.com.au I firstname.lastname@example.org Real estate takes the lead from car dealerships the real news c AN ONLINE BENCHMARKING SYSTEM THAT HAS HELPED CAR Issue 19. May 2009 DEALERS TO DOUBLE THEIR PROFITS HAS NOW BEEN LAUNCHED TO THE FIABCI WORLD REAL ESTATE INDUSTRY. CONGRESS IN ProfitFocus has transformed BEIJING CANCELLED car dealerships and helped DUE TO SWINE FLU many to double their profits. They know exactly FIABCI have advised the REIA that how many sales each the Chinese government has salesperson needs to make unilaterally ordered the China Real each month, how many Estate Association (CREA) to repairs their technicians cancel the 60th FIABCI World need to make and how long Congress until further notice. they can keep inventory. continued on page 2>> One of the key reasons that Deloitte’s benchmarking system, ProfitFocus, has Choices - the Mortgage Choice been so successful in the bulletin that tracks Mortgage motor traders industry Choice customer demand for is that the accounts are residential property loan products. automatically uploaded MORTGAGE CHOICE online and the results are The bulletin shows that Basic available instantaneously. RELEASE HOME LOAN variable remained the loan of CHOICES BULLETIN choice. At 48% of all approvals The motor traders industry is (well above the 12-month average notoriously competitive, so Mortgage Choice have released the May 2009 edition of HomeLoan continued on page 2>> continued on page 2>> THIS WEEK... FIABCI World Congress cancelled Page 1 Mortgage Choice releases Home Loan Choices bulletin Page 1 The Construction & Property Services Industry Skills Council CPSISC Conference Page 1 (CPSISC)’s 2009 two-day conference will take place at Star Deloitte article Page 1 City Casino, Sydney on 28 and 29 July 2008. To see more REIA participate in ACCC Small Business details, and to download a registration form, click here. Consultative Committee Page 3 2009 REINT Industry Awards Page 3 <<continued from page 2 - Real estate takes the lead from car dealerships Real Estate Institute of Australia 16 Thesiger Court I PO Box 234 Deakin ACT 2600 another critical element to Phone (02) 6282 4277 I Fax (02) 6285 2444 the benchmarking tool’s www.reia.com.au I email@example.com success was security. Car dealers cannot view a competitors’ accounts; they the real news t can only compare to groups c of 10 dealers or more. Surprisingly, the benchmarking system has Issue 19. May 2009 encouraged industry co-operation. There are <<continued from page 1 - FIABCI World Congress in Beijing cancelled due to now 72 ‘performance swine flu groups’ that meet every three months, where car This cancellation is due to the Chinese government’s concerns regarding the dealers compare notes and renewed spread of the H1N1 swine flu epidemic. discuss ways of improving their accounts. The recent renewed activity of the H1N1 virus is a real threat and the Chinese government is acting responsibly. Gathering 600 delegates from 35 countries in ProfitFocus has now the current context would be irresponsible. become the inspiration for a similar online benchmarking “We will provide the chapters as well as registered delegates with the most program for the real updated information regarding our strategy. We will work with the Chinese estate industry called Real government and the China Real Estate Association (CREA) to determine what Business First. remedies will be available for our membership. As your World President, I will keep you informed as soon as information becomes available to me”, said FIABCI The REIs have partnered World President, Mr Luis Correa-Bahamon. with Deloitte to launch the program, to help agents FIABCI’s primary goal is to handle immediate logistics to minimise the across the industry improve inconvenience and impact this cancellation brings to their worldwide membership. the efficiency of their businesses and ultimately <<continued from page 1 - Mortgage Choice release Home Loan Choices bulletin increase their profits. of 38%), this was the second highest percentage since Mortgage Choice began To find out more about Real recording its approval data in January 2003. The popularity of standard variable Business First, visit loans dropped but only by one percentage point, to 43%. This was lower than the www.realbusinessfirst.com 12-month average of 47%. “Conversely, fixed rate loan demand held a near-record low in April 2009, despite increasing slightly to 4% - a long way from its peak of 37% in November 2007. South Australia and Western Australia were the only states to experience a decrease in fixed loan popularity, to 2% and 4% respectively”, said Mortgage Choice Senior Corporate Affairs Manager, Kristy Sheppard. “With a number of lenders recently increasing their fixed rates and economists THIS PAGE... saying the cash rate is close to the bottom of its cycle, many people are weighing FIABCI World Congress up fixed vs. variable vs. split fixed/variable loan options. There are pros and cons cancelled (cont.) to each of these options, and it is important that borrowers thoroughly educate Mortgage Choice Home Loan themselves before making a decision. A reputable mortgage broker will assist Choices bulletin (cont.) with education and guidance through the home loan maze”, concluded Ms Deloitte article (cont.) Sheppard. FIND YOUR REI REIA has eight members, Real Estate Institute of Australia these members are the 16 Thesiger Court I PO Box 234 Deakin ACT 2600 State and Territory Real Phone (02) 6282 4277 I Fax (02) 6285 2444 Estate Institutes. www.reia.com.au I firstname.lastname@example.org Your State or Territory the real news body can assist you c with information which is relevant to being an agent in your State or Territory, for contact details, see Issue 19. May 2009 below: REIACT REIA participate in ACCC Small Business Consultative Committee 02 6282 4544 REIA participated in a meeting of the Australian Competition and Consumer www.reiact.com.au Commission’s (ACCC) Small Business Consultative Committee. REINSW A report on recent ACCC activities was the basis of discussions. This included: 02 9264 2343 www.reinsw.com.au • the preparation of a new guide to the Trade Practices Act to highlight the potential trade practices challenges faced by industry associations; REIQ • enforcement activities relating to misleading advertising practices; 07 3249 7347 • collective bargaining, and; www.reiq.com.au • a new consumer law For further information please contact Jock Kreitals at email@example.com REINT 08 8981 8905 2009 REINT Industry Awards for Excellence www.reint.com.au The Real Estate Institute of Northern Territory (REINT) have announced the 2009 Industry Awards for Excellence, recognising the Northern Territory real estate REIWA industry’s top performers. The awards will be presented in a gala event on the 08 9380 8222 lawns at the Sky City Casino on the 27th June 2009. The Industry Awards for www.reiwa.com.au Excellence aim to encourage, recognise and promote finesse in the real estate profession. To find out more or to book your tickets for the awards please contact REISA Kate Nolan on 08 8981 8905 or email firstname.lastname@example.org. 08 8366 4345 www.reisa.com.au REIV 03 9205 6666 www.reiv.com.au REIT 03 6223 4769 www.reit.com.au WHAT’S ON NEXT WEEK... THIS PAGE... REIA participate in ACCC - REIA Finance Committee to meet Small Business Consultative Committee 2009 REINT Industry Awards Please feel free to forward this newsletter to interested colleagues and friends. If you have received this email in error or wish to unsubscribe, please notify the sender immediately by reply email or by visiting www.reia.com.au/media/media_unsubscribe. Please feel free to view the REIA’s Privacy and Legal Statements.