Network & Industry News

First National Real Estate and the Property Industry

AWARDS: FN O’Donoghues Seizes Top Honours at Thrilling SA/NT GEM Awards

GEM Awards season kicked off with an electrifying start last Friday night, with close to 100 South Australian and Northern Territory members celebrating their results at Adelaide Zoo.

It was a triumphant night for FN O’Donoghues (Darwin, NT), which was announced Magnificent 7 – No.1 Sales Office of the Year and Magnificent 7 - No.1 Investor Relations Management Office of the Year.

At the top of the individual awards was Karlie Ridley, FN Lewis Prior (Warradale, SA), who took home Magnificent 7 - No.1 Business Development Manager of the Year; Nathan Janda, FN Salisbury (SA) who took home Magnificent 7 - No.1 Investor Relations Manager of the Year; and Mitchell Halpin, FN Broken Hill (NSW), who achieved Magnificent 7 - No.1 Salesperson of the Year.

SA/NT State Chairperson, Jennifer Nitschke, said it was her privilege to announce the 2024 General Excellence and Marketing Award winners.

‘This prestigious event celebrates outstanding achievements of First National’s best, recognising those who demonstrate innovation, dedication, and exceptional service in real estate. Our winners and nominees showcase the best of South Australian and Northern Territory talent, reflecting our commitment to excellence in every aspect of our profession. I look forward to our winners, who now go on to compete for national GEM Awards, continuing to elevate the standards of real estate practice across the state.’

Head to FN Central for full details of all award winners and a media release template.

UPSKILLING: Seize Your Seat for QLD’s Power Up Session: Stellar Speakers, Limitless Insights

8 March – 10:00 am to 4:00 pm

There’s been a phenomenal response to the announcement of Queensland’s forthcoming Power Up session!

It’s hardly surprising, considering the stellar panel of speakers lined up to share their expertise. Don’t miss your chance to attend what will be an amazing event, where you’ll grab incredible insights and performance boosting tips from the best in the business.

There are limited seats so hurry, get registered today.

Reserve My Seat

PRODUCTS: Andrew Blackman of FN Mudgee Shares How REA Connect Has Transformed Business

During last week’s REA webinar on Connect, FN Mudgee Principal Andrew Blackman shared his direct impressions on the changes Connect has brought to his business.

He mentions how his business has struggled with technology
How competition from shiny competitors was having an impact
How the agents who are using it are getting the best results

If you’re still wondering if Connect is right for you, listen to what Andrew has to say. Click the image above.

GOVERNANCE: Empower Your Voice by Joining First National’s Regional Councils

First National Real Estate is one of only two real estate cooperatives in Australia.

As such, your network represents a vital force in an industry where franchises offer minimal freedom to business owners, and independents struggle to resource their businesses and train staff.

Our success is that within our network members collaborate, share expertise, and work together to be more than would be possible in the isolation of independence.

Shortly, First National will open nominations for Regional Councils nationally. Have your say, lift your voice, and step forward to play a role in important decisions like professional development, network strategy, and the things that matter to your business, your team and the broader network’s interests.

Our Regional Councillors are a dedicated team of individuals who are available to listen to you. They work towards the collective interests of our brand and are always seeking fresh voices and participants in our important corporate governance processes. You can gain a better understanding of the responsibilities of a Regional Councillor here.

It’s your network.

Speak to one of your local Councillors today about the available roles and get ready to put your best foot forward.

VALE: Brian Edwards

South Australian and rural Victorian members were saddened to receive news recently of Brian Edwards’ passing.

Brian and his wife Diana bought FN Naracoorte and its FN Edenhope branch in October 2007, and operated a successful business until selling in August 2017. Sadly, Brian developed a form of early onset dementia soon afterwards and Diana cared for him as his disease progressed.

SA and VIC First National members were emailed an invitation from Brian’s family to celebrate his life at Naracoorte Town Hall on Thursday 15 February and Brian received an honourable mention at last week’s SA/NT GEM Awards.

LEGISLATION: ‘Right to Disconnect’ Laws Could Impact Real Estate

Proposed new laws allowing employees to ignore ‘unreasonable’ contact from their bosses, and related third parties, after hours could potentially impact the real estate industry.

What is the right to disconnect?

Workers have a right not to respond to electronic communications once the workday ends
It doesn’t bar electronic communications after hours
It protects workers from retaliation
It encourages businesses to respect an employee’s free time

While the exact implications of the ‘right to disconnect’ legislation for agents and property managers is still being ironed out, Real Estate Institute of Australia (REIA) President Leanne Pilkington says she is eagerly awaiting further information.

‘It will be an interesting thing to watch, in particular for our property managers,’ says Leanne.

‘The fact the legislation appears to relate not just to contact made by an employer, but also related third parties, could potentially cause issues.

‘Both investors and renters expect to be able to contact their property manager when they need them. Whilst it is logical that emergencies will be exempt from these rules, there are still two issues, in that not everyone’s understanding of an emergency is the same’.

She has further indicated that with real estate being a service industry, it would not work to attempt to tell investors and tenants that property managers were completely unavailable after hours. It is more likely that there would need to be clear conversations between employers and property managers around the expectations of what after-hours work could be reasonable.

Leanne also shared one tip for agency owners who were emailing employees after hours, saying she scheduled her emails to be received during office hours.

The right to disconnect comes under the Fair Work Legislation Amendment (Closing Loopholes No.2) Bill 2023, which was introduced and fought for by the Greens.

LEGISLATION: New Foreign Investment Legislation Rules Coming

In a bid to bolster Australia’s housing stock and encourage investment in rental properties, the Albanese Government has introduced new legislation to shake up foreign investment.

The proposed adjustments, encapsulated in the Foreign Acquisitions and Takeovers Fees Imposition Amendment Bill 2024, seek to realign foreign investment to prioritise local homeowners while fostering the expansion of affordable housing options across the country.

What is proposed?

Higher fees for the acquisition of established homes by foreign investors (acquired since May 9, 2017)
Augmented penalties for vacant properties owned by foreign investors
Reduced application fees for foreign investors in Build-to-Rent developments

These measures, along with other initiatives like the Commonwealth Rent Assistance expansion and the Housing Australia Future Fund, highlight the government’s approach to addressing housing affordability and the supply crisis.

The Property Council of Australia says such changes would boost investment in Build-to-Rent property supply, citing the potential for another 150,000 homes to be delivered over the next decade. It does, however, point out the disparity in fees faced by investors in Build-to-Rent properties compared to other asset classes. Fees can reach as much as $1.1 million on a $50 million residential deal, while only $13,200 for a commercial deal.

FUN: 2024 Footy Tipping Competition Returns

SERVICE: Business Growth Managers Kick Off for 2024

The network’s Business Growth Managers (BGMs) met at National Office to activate their service plans for your offices throughout 2024.

We’re committed to helping you and your team improve results throughout 2024, leveraging the best of First National's products and services, profit planning tools, commercial expertise and corporate support.

Performance Partners are an integral part of this process and joined our BGM team for a working breakfast as part of the agenda. We thank our Performance Partners for their continued commitment to making every First National Real Estate agency better.

LEGISLATION: QLD Government Announces Rent Relief and Rent Bidding Bans

Queensland’s Miles Government has announced it will provide bridging loans for rental bonds as part of a $160 million package to address the housing supply crisis.

Bonds will be able to be transferred between properties
Rent bidding will be constrained

While the new bond scheme is being finalised, the government says it will offer a Bridging Bond Loan product. A new Rental sector Code of Conduct will be the instrument to influence control over rent bidding.

The commencement date for Stage 2 rental reforms involving compulsory CPD is not yet known.

COMPLIANCE: NSW Offices Uphold Business Supervision Guidelines

70 NSW principals took advantage of First National’s recent Supervision Guidelines webinar with Trish Rogers to make sure they stay ahead of NSW Fair Trading inspectors’ spot checks.

Did you not have time to watch? Catch up now before Fair Trading catches you.