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Property insider

Property Insider found this interesting development on the REINSW website:

Know your rights How hard does it have to be? Fair Trading NSW has a video series available as downloads or on their YouTube channel, called Know your Rights. There is one on buying a home and making an offer: http:// www.fairtrading.nsw.gov.au/ ftw/About_us/Video_and_ audio/Know_your_rights. page.

Recently one of The Echo drudges had the experience of having to find a rental property in Brisbane for her elderly parents. Harrowing was the word she used to describe the experience. Most of the inspections were by appointment rather than open viewings. ‘We had one experience where the agent just didn’t show up for the appointment and another where we got trapped in the a lift when the agent brought the wrong keys to activate the lift. Without support the

paperwork would have been very daunting for my parents as was the time lag between putting in an application and knowing whether you’d be accepted or not. It would be great if one agent could have shown us everything that was available, where you felt like someone was really looking after your interests and trying to find the best place for you. I guess the industry isn’t geared like that now, but it is a shame because there is no relationship or trust built.’

Professionals Mullumbimby – Mark Cochrane Have moved down the street to bigger premises. You’ll find them next to the Commonwealth Bank in Burringbar Street, Mullumbimby. Feel free to drop in and say hello.

Auction

Brunswick Heads 30–32 Tweed Street

A new auction app currently under development aims to help buyers and agents by making it easier to pay an auction deposit. The new app, Auction Pay, has been created by Macquarie Bank and is currently on trial with five agencies in NSW until the end of February. It is expected to launch in March and aims to remove the frustration that can sometimes occur around deposit funds at auction. REINSW Residential Sales Chapter committee members Sarah Bester and Betty Ockerlander, and auctioneer members Jesse Davidson and Paul Millett, recently spoke with Brad Hamilton and Jenny Strong from Macquarie Bank to discuss the new app. Sarah Bester, general manager of Ray White Double Bay, said: ‘The system is very simple to use and given the challenges we all face with purchasers not having cheques available

to them, it is a solution that will walk us into the future of deposit transactions on property purchases’.   REINSW and Macquarie Bank share an optimistic view that this app could take the frustration out of auction transactions for auctioneers, selling agents and purchasers. 

How does the Auction Pay app work?  After the hammer falls at an auction an agent logs into the app using a unique identifier number, and then enters the property address and sale price. The app then calculates the deposit and prompts the buyer to enter their bank account details, BSB and account number (these details are not stored). Once the buyer agrees to the terms and conditions, the

transaction is complete and an email receipt is sent to the agent and the buyer. The transaction takes around two minutes to complete. Physical settlement does not occur until the next business day, and a buyer is allowed time on the Monday after a Saturday auction to transfer funds into the account. If the buyer needs to access more than one account to achieve the 10 per cent deposit for the transaction they can do this. The agent must have a transactional account with Macquarie Bank to use the app, and need a tablet or mobile phone device connected to the internet (iPhone or Android). The development of this app is timely given that the days of cheques are numbered!

HAVE ANYTHING TO LET US KNOW ABOUT? Any new faces? Career milestones? Exceptional results? Market observations? Email propertyinsider@echo.net.au.

Auction

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AUCTION – COMMERCIAL/RESIDENTIAL – REDEVELOPMENT? This iconic commercial premises along with the 3 bedroom cottage has been owned by the same owners for the past 20 years. ‘Do not miss this opportunity’. Property is a visible corner position with land size 345m2.

New auction app for buyers and agents

View Agent onsite Sat 12.00–12.30pm Auction 21/01/2017 at 11.30am at Brunswick Heads RSL Auxiliary Hall Contact David Holden 0435 789 677

LJ Hooker Brunswick Heads 02 6685 0177

North Ocean Shores 1 Kallaroo Circuit AUCTION – BLANK CANVAS, BEACH SIDE • Vacant land beach side • 676m2 ready to build on • Established neighbours • 1 & only available in Fern Beach • Fenced, private, flat, flood free • Build your beach house here! The owner will consider offers prior to auction, so grab your architect or draftsman get the

beach house designed and make an offer prior, who knows this block could be yours. View Agent onsite Sat 11.00–11.30am Auction 21/01/2017 at 11.00am onsite Contact Peter Browning 0411 801 795 or David Holden 0435 789 677 LJ Hooker Brunswick Heads 02 6685 0177

ljhooker.com.au All information contained herein is gathered from sources we consider to be reliable. However we cannot guarantee or give any warranty about the information provided and interested parties must solely rely on their own enquiries.

26 January 11, 2017 The Byron Shire Echo

Residential | Commercial | Rural | Finance

Byron Shire Echo archives: www.echo.net.au/byron-echo


Byron Shire Echo – Issue 31.31 – 11/01/2017