Settlements

<html><body>
A Queensland real estate agency has been compensated after a former star salesman resigned to join a rival company and caught poaching clients and stealing confidential information.
NB Lawyers director, Jonathan Mamaril, said the matter was settled out of court.
He suggested the matter highlighted the need for estate agencies to have carefully drafted employment contracts in place for staff.
There was also a need for policies directing employees about the specific use and handling of confidential information.
Mr Mamaril said the issue was particularly pertinent to the real estate sector where there was a great deal of movement of staff between companies and confidential client databases were crucial to the business.
“A high performing salesperson resigned from their position and went to a direct competitor of our client the very next day,” he said.
“The former employee took specific client details and confidential information belonging to their former employer with the intent to provide this to his new employer.
“The former employee provided a particular client to their new employer which was at the value of $14,000 in commission. 
"However of greater importance to our client was the potential poaching of further clients with the confidential information the former employee had in their position.”
Mr Mamaril said in this case there was an employment contract in place with a reasonable restraint of trade clause which allowed NB Lawyers to draft a letter to the former employee and their new employer in relation to the breach of employment contract.
“After some negotiation the outcome was our client received a signed undertaking from the former employee that they would not use any further confidential information and the firm was compensated for the lost commission,” he said.
</body></html>

jchancellor-FAypfDUnLy

Lost commission compensation after Queensland salesperson departure dispute

<html><body>
Aussie Home Loans has posted a record $20 billion in home loan settlements during 2014-2015, including $16.8 billion through its Aussie branded franchises.
June capped off the record-breaking year, with settlements during the month at a record $1.98 billion.
“We achieved all of our ambitious growth targets for the year, with our retail and mobile broker channels both reporting record levels of lending volumes,” Aussie CEO James Symond said.
Aussie also reached an important milestone in its 23 year history, employing our 1,000th mortgage broker.
It has also opened its 175th purpose-built store.
"The mobile mortgage broker channel is also going full steam ahead, settling a record $600 million in June,” James Symond said.
</body></html>

Settlements

Editor's Picks

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.

Settlements

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.