Network & Industry

In This Edition… 

• 🔬2024 Satisfaction Survey revealed positive & negative feedback (see Network & Industry)

• 🌴 Mandatory CPD begins in Queensland 6 June 2025 (see Agency Practice)

• 😎 Privacy Bill passes parliament: More changes for 2025 (see Network & Industry)

• 💵 AML/CTF becomes a new arena of compliance (see Network & Industry)

• 🤖 Privacy and the use of AI products (see Agency Practice)

• ⚠️ VIC reforms on rent increases and minimum standards (see Agency Practice)

• 🏎️ Forgotten racer to compete in Targa Tasmania with 90s FN logos (Community)

Merry Christmas

As 2024 draws to a close, your National Support Office (NSO) team wishes you a very Merry Christmas and a Happy New Year. 

NSO will close on Friday 20 December and reopen on Monday 6 January 2025. 

Thank you for flying the First National flag with pride and putting our customers first.

2024 Membership Satisfaction Survey Results

The 2024 Member Satisfaction Survey revealed a mixture of positive and negative feedback, highlighting key areas for improvement. Overall member satisfaction was rated at 54, indicating that expectations are only partially met. While no state reached the positive satisfaction threshold of 75, Business Growth Managers (BGMs), Training, and Marketing & Advertising Support emerged as relative strengths.

The most significant weaknesses identified were Brand and Fees & Value, both crucial drivers of member satisfaction. Members expressed dissatisfaction with brand consistency, visuals, and the value received for fees, especially the marketing and subscription fees.

The top 10 priorities for improvement are:

1. Consistent branding across the network

2. Value received from the marketing levy

3. Brand's effectiveness in attracting new listings and landlords

4. Modern and appealing branding and visuals

5. Relevance of the Our Fabric newsletter content

6. Building trust in the First National brand

7. Sourcing additional value-adds, such as insurance and marketing products and services

8. Value received for the monthly national subscription fee

9. Relevance of the FN Central intranet content

10. Improving the performance of Zenu, the website and/or CRM system provider

Your network is prioritising these key areas to enhance satisfaction and drive positive commercial outcomes. Members also suggested individualised marketing strategies, improved local knowledge from BGMs, and increased training on legislation, business management, and property management.

We'll keep you posted with regular updates on our progress throughout 2025.

Privacy Bill Amendments Pass Parliament

Just when you thought you couldn’t get enough of legislative change, Australian Privacy Principles are in for a shake up now that the Privacy and Other Legislation Amendment Bill 2024 has been passed. 

The Bill heralds the first changes since 2014 and:

• Will require real estate agencies to update privacy statements on their websites

• Will require real estate agencies to indicate where automated decisions affect an individual’s rights or interests i.e. rental applicants being processed using AI

• Provides new legal provisions allowing individuals to sue for significant breaches of privacy

• Allows an expansion of the Office of the Australian Information Commissioner’s (OAIC) investigative powers and civil penalties

• Provides a ‘whitelist’ of countries with adequate privacy provisions to facilitate cross-border data transfers 

It appears that AI provisions related to leasing applications won’t come into effect for 24 months and guidelines are anticipated from OAIC in the interim. Other provisions may apply sooner. First National Real Estate will monitor for updates and keep you informed. 

But Wait, There’s More…

Anti Money Laundering/Counter Terrorism Financing (AML/CTF) is an acronym we’ll all be familiar with by June 1, 2026. That’s because tranche two legislation passed by parliament in the last week of November makes all real estate agencies ‘designated services’ and therefore a ‘reporting entity’.

• Property management services clientele are not included

• Australia will be less vulnerable to exploitation

• Australia will avoid being ‘grey listed’ by the Financial Action Task Force (FATF)

• AML/CTF presents a growth opportunity for First National as many independent agents will struggle to meet their obligations

• Enrol with AUSTRAC

• Appoint a compliance officer within your business

• Tailor an AML/CTF programme to your business

• Ensure relevant staff are trained and capable of meeting responsibilities

• Properly vet relevant staff 

• Started undertaking all due diligence

• Start reporting to AUSTRAC

• Maintain accurate records

This will not be an exercise of applying a templated AML/CTF programme within your agency. Each agency must develop its own specific practices, while complying with the specifics of the act.

Likely challenges:

• There will be resistance from buyers, sellers and some real estate agents

• There could be delays in getting properties listed and sold

• Sales will be cancelled where personal verification data cannot be obtained in time

Naturally, First National Real Estate will assess the final form of the legislation establishing solutions for our members. 

State Awards Season is Coming Up

Our state awards season is coming up so let’s get you and your team registered for the most exciting night of nights!

SA/NT Awards – Friday 28 February, National Wine Centre – REGISTER NOW

WA Awards – Friday 21st February, Crown Perth - REGISTER NOW

QLD Awards – Saturday 8 March, The Star Brisbane - REGISTER NOW

NSW Awards – Saturday 22 March, Doltone House @Jones Bay Wharf - REGISTER NOW

VIC/TAS Awards – Saturday 29 March, National Gallery of Victoria - REGISTER NOW

Register Now for National Convention 

We still need you to register, please.

Secure your dates, select your preferred rooms, and customise your experience today

Fancy Christmas in July in Margaret River? 

Next July, mark your diary (30th July thru August 1) if you’re interested in sharing some space with our rural and regional experts. Margaret River is the centre of Western Australia’s wine growing industry, and next year it’s the centre of our Rural & Regional Muster conference.

Queensland, Don’t Miss 2025’s Sales Power Up

It’s on again! 

Queensland’s extremely popular Sales Power Up makes a return in March 2025, just ahead of our State Awards night. 

Mark your diaries and book your accommodation well in advance for the best rates.

Download Our New Calculator App

First National’s new Calculator App gives agents and customers (including first homebuyers) a set of easy-to-use tools to calculate:

• Commissions

• Stamp duty

• Settlement dates

• Loan repayment calculator

• Unit converters

• Rent vs Buy

• Property selling and buying cost

It even takes into account first homebuyer calculations concerning any stamp duty waivers applicable to their property purchase, and we’ve used this additional functionality to add this very useful page to the National Website. You might like to also link to it from your website and promote through your social media.

Link to the app from your website and promote through your social media. Embed the calculator in your website using https://www.visionabacus.net/w/ACalcList/FirstNational

Download and share the FN Calculator app with your customers today.

First National Membership Statistics