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FIABCI WORLD CONGRESS IN BEIJING CANCELLED DUE TO SWINE FLU

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					                                                                  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 reia@reia.com.au         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 reia@reia.com.au         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 reia@reia.com.au

                                                                                                                       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 jock.kreitals@reia.com.au                                      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 reception@reint.com.au.                                                            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

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