The Victorian Government has secured the passage of the Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026, introducing a suite of reforms aimed at improving consumer protection and confidence in the apartment market.

Resilience Insurance, Australia’s leading Latent Defects Insurance (LDI) provider, has welcomed the move.

The LDI elements of the Bill passed with bipartisan support and now moves to the Legislative Council where debate and passage are expected later this month. It represents a significant milestone in the national shift toward stronger, longer-term protection for apartment buyers.&nbsp;

The reform would deliver practical benefits across the housing system. Apartment owners will have stronger protection if major defects emerge, developers and builders will have a clearer quality framework to work within, and the State will reduce the risk of serious building failures becoming a long-term financial and social burden for households, communities and government.&nbsp;

LDI helps support apartment delivery while providing stronger protection for buyers and encouraging better construction outcomes.&nbsp;

Resilience LDI provides apartment owners with 10 years of insurance-backed cover for major structural defects from completion, with direct claim access to the insurer. This means owners are not required to first pursue developers or builders through costly legal action before accessing protection.&nbsp;

Resilience Insurance has been operating in Australia since 2022 and has already insured hundreds of development projects covering many thousands of apartments across Australia.&nbsp;

At approximately 1.8 per cent of build cost, it is a cost-competitive alternative to the traditional two per cent Strata Bond, bond while delivering significantly broader and longer protection.&nbsp;

“The Victorian Lower House vote shows that reforms like this succeed when they are practical, evidence-based and supported by industry," says Corey Nugent, CEO of Resilience Insurance.

"Victoria is moving quickly on a reform that will make a real difference for apartment buyers, while supporting better building outcomes and greater confidence in apartment delivery.

“This is step one. We look forward to the Bill completing its passage through the Legislative Council and to working with government and industry to implement the framework effectively.”&nbsp;

Fast Facts: What is Resilience LDI?&nbsp;

<ul>
	<li>Resilience Latent Defects Insurance (LDI): Covers major structural defects for 10 years from completion.&nbsp;</li>
	<li>Consumer-first: Direct claim access, no need for lengthy legal action.&nbsp;</li>
	<li>Cost advantage: At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.&nbsp;</li>
	<li>Market leader: Resilience Insurance is the first approved LDI provider in NSW.</li>
</ul>

The Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026 has passed the Victorian Lower House, putting Victoria on track to become the first state to legislate an industry workable LDI framework as a formal alternative to the Strata Building bond. 

Joel Robinson

10-year Latent Defects Insurance for new apartment buyers set to land in Victoria

Just a few months after acquiring a prime Broadbeach site on the corner of First Avenue and Surf Parade, family-run developer <a href="https://www.apartments.com.au/developers/raptis">Raptis</a> has filed fresh plans for a new apartment development.

Raptis is seeking to deliver a <a href="https://www.apartments.com.au/new-apartments/17-19-first-avenue-broadbeach-qld-4217">29-storey tower with 73 apartments</a> on the 818 sqm site. It will be the developer's seventh project in the suburb, as they are approaching completion of The Sterling on George Avenue.

There will be a pool, barbecue and outdoor dining area, residents lounge and dining, sauna and steam room, gym, and a Yoga and Pilates studio.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="b554da3f-7344-49aa-b1c9-44cf459af0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%2010.41.45%E2%80%AFAM.png?VersionId=zzjWu1iO1wnuYv4EV4fyOyf5nSXjGYut" />

Raptis Joint Managing Director, Evan Raptis, says they remain&nbsp;committed to developing quality infill sites across the Gold Coast in the lead-up to the 2032 Brisbane Olympics.

"This project continues our long track record of delivery in Broadbeach, and we look forward to bringing another premium development to this thriving precinct."

The announcement follows strong delivery momentum for Raptis, with The Sterling Broadbeach nearing completion and construction well underway on the final stage of the Waterpoint community adjacent to Harbour Town. The developer's continued investment in the Gold Coast reflects confidence in the region's apartment market fundamentals, underpinned by sustained Southeast Queensland population growth.&nbsp;

The outlook for the region is further bolstered by infrastructure investment tied to the Brisbane 2032 Olympic Games, which is expected to drive continued economic and population growth across the SEQ corridor.&nbsp;

Subject to a favourable response from Gold Coast City Council, construction on the new First Avenue tower is targeted to commence before the end of 2026.&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/it-s-all-in-the-family-four-decades-later-raptis-continues-to-shape-the-gold-coast-skyline">It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline</a>

Read more: <a href="https://www.apartments.com.au/news/qld/raptis-secures-prime-surf-parade-site-for-next-broadbeach-apartment-development">Raptis secures prime Surf Parade site for next Broadbeach apartment development</a> 
&nbsp;

Gold Coast developer brings seventh Broadbeach project to market, targeting construction commencement before year end

First look: Raptis lodges plans for new 29-storey Broadbeach tower 

Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.

The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.

Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.

The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.

<img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" />

A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.

Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.

New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.

GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.

First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.

The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.

Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.

[smartcode_project:default project_id=135876 project_image_fid=368853]

The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.

GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available.

Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.

[smartcode_project:default project_id=135876 project_image_fid=368851]

The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.

The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.

[smartcode_project:default project_id=135876 project_image_fid=368852]

For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.

GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.

"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.

"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."

[smartcode_project_cta:default project_id=135876]

GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.

The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.

The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.

<img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" />

A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.

The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.

"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.

The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.

Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."

The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.

<img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" />

The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.

S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.

Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.

John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.

First look: S&S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street

Industry News

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REA Group has appointed Tracey Fellows as its new chief executive.
Fellows was previously at Australia Post and prior to that she was Microsoft vice president for the Asia-Pacific region.
“We believe that Tracey is the perfect fit for the company and we look forward to seeing her apply her leadership experience as we navigate through the next evolution of our business,” chairman Hamish McLennan said.
REA, the operator of Australia’s number one property website realestate.com.au, needed to replace Greg Ellis who left to run the German real estate business, Scout24. Ellis announced his resignation last December.
REA's market value sits at around $6 billion with News Corporation owning 61% of REA.
Fellows, who will start at REA in September, was assisting Australia Post’s plans to transition to digital as executive general manager of communication management services at Australia Post since February last year.
Previously Fellows was Microsoft vice-president for the Asia-Pacific region based in Singapore, overseeing sales, services, and marketing for 12 countries in the region.
Tracey was managing director of Microsoft in Australia and New Zealand from 2007-2010, and held the role of Microsoft Australia chief operating officer from 2004-2007.
Tracey will replace interim REA CEO Peter Tonagh who has held the role since March.
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jchancellor-FAypfDUnLy

Australia Post's Tracey Fellows to head REA Group

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GUEST OBSERVATION
Following last week’s public hearing, the Senate Economics Legislation Committee is preparing to report on its <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/FOFA" target="_blank">inquiry</a> into a government bill that would significantly water down the Future of Financial Advice (FOFA) legislation.
The legislation banned “conflicted remuneration” - commissions provided to advisers and financial planners by the producers of financial investment products such as banks and wealth management firms. FOFA also required bi-annual renewal of any ongoing fee agreements between investors and their planners on an “opt in” basis, and made it the duty of financial services providers to advise and act in the “best interests” of their clients.
The government argues the “streamlining” of FOFA will help to “cut red tape” and reduce costs to consumer investors. Unfortunately, while there is always room for fine-tuning new legislation to “streamline” it, the government’s proposals do far more. They seriously undermine the consumer protections in the FOFA legislation and, in some ways, take investors back to the pre-FOFA position.
Banks win under a ‘streamlined’ FOFA
While not attempting to reinstate product-based commissions for personal advice, the government’s bill does propose to allow them for “general advice”.
Bankers, planners and lawyers may understand the difference between “personal advice” and “general advice”, but the subtleties of this distinction may be lost on consumers in real-life situations. A bank employee may say to a consumer, “This product is very good for people (in general) of your age with your income/asset position,” without considering the consumer’s particular needs, objectives and financial situation. This is “general advice” only but under the current legislation, the employee still may not receive a commission if the consumer invests in the product as this would be “conflicted remuneration”.
The government proposes to exempt such “general advice” from the ban on commissions. Further, there will be almost no restrictions on commissions when the result of the conversation between the bank employee and the customer results in a basic banking product, general insurance or life insurance. Not surprisingly, this is one area where consumer groups agree with the Financial Planning Association of Australia (FPA) as the latter is concerned at the decline of properly remunerated personal advice and the total domination of a “sales culture” built on commission-driven “general advice”.
Where the consumer groups and the FPA part ways, however, is on the issue of bi-annual renewals. Currently, under FOFA, a planner or adviser who is receiving ongoing commissions, either from product issuers for old pre-FOFA investments, or directly from the client, must notify the client every two years and allow them 30 days to “opt in” and renew the ongoing fee arrangement.
Best practice for all
The government proposes removing this requirement and returning to the old pre-FOFA “opt out” situation. This is despite strong evidence, from many sources including ASIC itself, that large numbers of consumer investors are “inactive” and that many planners and advisers receiving commissions from these consumers or their investments don’t bother regularly contacting them to review them. Of course, “best practice” in the financial planning industry is to conduct such reviews, annually or bi-annually. FPA members who abide by its Code of Practice would do so.
It is surprising, therefore, for the FPA to oppose this requirement and to support the government’s attempt to “streamline” it away. Other financial services products, like house and car insurance, are renewed annually and consumers are given notice and opportunity to consider the product and shop around. Why not investments? Informed and updated consumers regularly considering their investment performance and their fee arrangements with their planners and advisers makes for a better-performing investment industry and confident consumers.
FOFA also repealed the requirement for advisers to have a “reasonable basis” for their advice and replaced it with the obligation to act and advise in the “best interests” of the client. This duty, however, can be satisfied if the adviser can prove they complied with a “checklist” of quite specific obligations followed by the general requirement to consider “any other step” that was in the client’s best interest. This last requirement is the only item in the relevant sub-section that actually mentions “best interest”. The government is proposing to remove this last “catch all” provision, saying it is too open-ended and “creates uncertainty”.
Most professionals have open-ended obligations which require the exercise of professional judgement. While their insurers produce checklists to help manage risks, these are no defence to a claim of professional negligence. Indeed, the principles of the law of negligence itself, which apply to everybody, not just professionals, are expressed in general terms such as “reasonable foreseeability”.
If financial planners and advisers want to be seen as a profession and to charge accordingly, they need to accept that not all their obligations can be neatly spelt out for them in a legislative checklist.
Paul O'Shea is senior lecturer, TC Beirne School of Law at University of Queensland.
Paul O'Shea was commissioned to write an analysis for National Seniors Australia on the potential consumer detriments of the Commonwealth government's proposals to "streamline" the Future of Financial Advice reforms. He is affiliated with Queensland Consumers and is a "Friend" (Honorary Life Member) of the Financial Counselling Association of Queensland. He is a member of the Investment, Life Insurance and Stockbroking Panel of the Financial Ombudsman's Service. His private legal practice advises both consumers and financial services providers. 
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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jake-cSmGT7VXVf

Financial advisers must accept that their obligations can't be spelt out in an easy checklist

jduke-EHk3XBmHkn

Wolf of Wall Street's Gold Coast AREC 2014 attendance continues to provoke debate

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GUEST OBSERVATION
A lot is being said about the standard rate of commissions dropping in recent months, where the average fees have dropped by up to 30%. This from an industry average of 2% rates over the sale price of the property to 1.7%. Is it a case of too many “agents spoiling the industry” or simply basic mathematics?
Property Prices
We have seen over the last 12 months double digit figures in the percentile rate of properties increasing in values across major capital cities.
Almost three years of capital growth with alarming figures in prices achieved another bench mark of what is happening in the property market. Some areas such as the outer western suburbs of Sydney ( such as <a href="/news">Mount Druitt</a>, <a href="/news">Hebersham</a>, <a href="/news">Lethbridge Park</a>, <a href="/news">Whalan</a> and <a href="/news">Bidwil</a>), have witnessed property values increase from $210,000 to $290,000. Valuations and prices sourced from our landlords. 
Now let’s look at the affluent areas making headlines such as; the Inner Western suburbs, Redfern and the North Shore Corridors. These areas that have been exposed to 20% to 35% capital growth in pricing.
Let’s do the maths
Lower priced properties last three years: Three bedroom home 
<ul>
<li>$210,000 x 2% = $4,200</li>
<li>$290,000 x 1.7% = $4930</li>
</ul>
Higher valued properties sample <a href="/news">Dulwich Hill</a> last three years: Two bedroom apartment
<ul>
<li>$530,000 x 2% = $10,600</li>
<li>$640,000 x 1.7% = $10,880</li>
</ul>
And if we look at median prices:
<ul>
<li>2010 median home values Sydney $633,200 x 2% = $12,664</li>
<li>Current median figures Sydney $781,000 x 1.7% = $13,277</li>
</ul>
What does a Vendor get for their commission?
The average time properties currently spend on the market is notably less. There is a push toward auction campaigns that run three to four weeks and the banter from industry 'specialists' is that if the home is on the market for longer than four weeks, the advertising is stale.
Summary
There is an incorrect assumption that agents deserve more for the work they do, and real estate agents need to pull their heads in. In fact, agents are being paid more although the commission rate may reflect a lower figure. Are agents giving any more for their want to earn more in fees? I believe not. If anything the push for vendor paid advertising throughout most major industry training seminars is actually costing vendors more.
There are approximately 53,000 registered real estate agents in NSW alone; an overcrowded industry with fewer experienced agents staying in.
We now have direct competition from mortgage brokers, financial planners and accountants as well as marketing companies assuming the role of the real estate agent when selling new properties.
Most of the industry is bidding for the custom of a reduced footprint of sales in the “secondary stock” space, the mum and dad homes.
EDWIN ALMEIDA is managing partner and licensee-in-charge of <a href="https://www.just-think.com.au/" target="_blank" rel="nofollow">Just Think Real Estate</a>.
Note: Edwin happily takes 1.5% commission on properties for certain clients as a commercial decision. Some use both his property management services and sell multiple properties through his business.
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ealmedia-arK4DBYLjS

Agents: Pull your heads in about commissions, you’re getting more, not less

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GUEST OBSERVATION
The Australasian real estate industry is as mature as any on the planet. We compete against our peers globally and do it well.
Within the global brand I’m associated with, RE/MAX, with its presence in 95 countries, Australia currently has an impressive 13 of the top 20 international teams.
The Australasian real estate industry and Australasian real estate agent practices stand up very well against other nations, and I’d go so far as to say may often beat many international peers hands down when it comes to skills, characteristics and methodologies such as multiple marketing options including the auction system. It is indicative too that real estate is more widely perceived as a career than in many other countries.
In comparison, for example, with the US and Canada, the Australasian real estate industry is not of the same scale. We don’t come close to the huge numbers of offices and agents involved there… yet! I have no doubt that Australian and New Zealand real estate offices will continue to grow both in numbers of agents and services provided by an office.
On my recent trip to Canada, for example, where RE/MAX has 36% market share, I saw some massive operations. I spent time in one real estate business, Richard Pilarski’s RE/MAX Realtron Realty. He has eight offices in Toronto with in excess of 700 sales associates. One office alone has 300 sales associates.
Will Australia and New Zealand follow down the path of creating real estate operations to that scale?
There are offices with 100-plus agents in Australia already; and while we may not see offices with 300-to-400-agents or greater being commonplace in the short term, there’s every possibility we’ll see 30-to-50–strong sales forces on the rise.
For instance, in Canada and the US, no more than approximately 30 per cent in the real estate industry work from an office, and that is a growing trend here in Australia.
With ever-expanding technology, there is a lot more capacity for people to work remotely; so we can expect that real estate businesses will expand without us necessarily seeing bigger physical premises where sales, property management and financial specialists gather and work. RE/MAX AIRR is one such existing example - where portals and databases are more important, and more widely used, than desks and office car parks.
Michael Davoren is managing director of RE/MAX AUSTRALIA and RE/MAX NEW ZEALAND.
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mdavoren-BoeuVwusdi

Will the Australasian real estate industry blow out in size?

Signboards: A real estate staple, but do they have a future?

What happened with Domain.com.au yesterday?

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Jordan Belfort, whose memoir The Wolf of Wall Street was turned into a film by Martin Scorsese, is turning up to AREC 2014, the conference billed as allowing Australian estate agents to "meet the best real estate and business minds on the planet".
"20 world class agents and presenters who will change your life," it's suggested.
But Belfort - who this week advised he expects to earn more this year than he made at his peak as a stockbroker, allowing him to finally repay the victims of his fraud - is triggering an estate agent boycott of the 1 June conference.
"Usually this conference is a fantastic (although expensive) conference to attend," the Ray White Cheltenham, Melbourne agent Peter Konidaris blogged. "A great investment for a real estate agent (new or experienced) looking for additional inspiration from inspirational speakers and leaders in our industry. But upon realising Jordan Belfort was the 'headline act', in my strong opinion, AREC has taken a huge backward step."
"I’m disappointed with this year’s AREC conference, having a convicted con man as one of their 'motivational speakers'."
He suggested other speakers have integrity, especially Aron Ralston (the mountain climber who lost his arm, depicted in the film 127 Hours) along with a bunch of other successful Aussie business people and real estate agents.
"I don’t want our industry to be set back by this bloke teaching some gullible attendees his sleazy scripts, dialogues, persuasive techniques and tricks," Peter Konidaris urged. 
He is not alone with a number of agents having significant concerns with him, especially after his walk-out interview with 60 Minutes interview Liz Hayes and his subsequent personal attack on Kyle Sandilands and Jacki O's radio program against the respected Australian correspondent.
Industry veteran, from Harcourts Frankston director Brent Pullar said the conference was brazenly promoting a fraudster whose actions had devastated many lives.
“For AREC to market a convicted con artist’s sales techniques and powers of persuasion is not something I want for the industry,” he told News Ltd papers.
Belfort, who earns up to $30,000 an hour to explain his selling strategies, claims he will make more this year than he ever made in his best year as a broker.
Belfort told a conference in Dubai that his goal was to make US$100 million plus from a 45-city speaking tour in the US.
The Securities and Exchange Commission shut down his firm in 1998, and in 2003 Belfort was convicted and sentenced to four years in jail.
He is scheduled to speak for an hour each day at the June 1/2Gold Coast AREC conference, with his speeches titled, The Art of Prospecting and From Prison to Hollywood. 
Photo courtesy of Facebook.
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The Wolf of Wall Street Jordan Belfort's upcoming AREC 2014 attendance "a huge backward step"

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A proposal to deregulate fees charged by settlement agents and land valuers in Western Australia has Consumer Protection calling for comment.
This would be a move to bring Western Australia back in line with all the other states in Australia, as they are currently the only state to fix a maximum amount that these experts can charge for their services.
With 660 licensed settlement agents, and 840 land valuers, across the state it could help competition and red tape reduction if the fee schedule is removed, according to Acting Commissioner for Consumer Protection, Gary Newcombe.
The other states, where there is not this level of regulation, competition is what keeps charges low. Newcombe said that, as a result, having a mandated maximum is unnecessary.
“In fact, discounting by settlement agents and land valuers in WA’s competitive market often means that fees well below the maximum allowed are being charged, demonstrating that there is little benefit to consumers and further cementing the case for deregulation,” he said.
“If fees were to be deregulated, there would be a provision for consumers to be provided with information about the fees being charged that would help them assess the services being offered and make an informed choice about service providers.”
The deregulation of fees for real estate and business agents, which occurred in 1998, will be the modelling for this legislation. At the time, there were no adverse effects recorded.
“Consumers would continue to be protected by the Australian Consumer Law and industry professional standards would be maintained by the licensing and codes of conduct obligations placed on settlement agents and land valuers which will remain firmly in place, regardless of any fee deregulation,” he said.
Comments can be made until 31 July 2014.
{module Do you think settlement agents and land valuers' fees should be deregulated?}
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Should West Australian settlement agents and land valuers’ fees be deregulated?

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Phil Naylor has announced his intentions to resign as the chief executive officer of the Mortgage and Finance Association of Australia, taking effect 24 December.
No successor has been appointed after Naylor’s 12 years in the job.
After being at the Australian Retailers Association, he started in 2002 when the MFAA was known as the MIAA, a trade association with 2,200 members.
In 2006 the Mortgage Industry Association of Australia broadened its charter and changed its name to the Mortgage and Finance Association of Australia.
The MFAA has almost 11,000 members.
He championed uniform broker legislation.
He said getting "the rogue mortgage broker off the front page of the news" as one of his most significant achievements by cleaning up the industry along with regulators.
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