During its formative years and onward EAC’s Board and Management, in keeping with its mission to provide its members with the opportunity to enhance market share and profitability, introduced many and varied services to compliment multilist including: • An involvement in establishment of the Estate Agents Permanent Build Society (eventually taken over by other banking institutions); • A suite of real estate pictorial publications known as REALTOR; • Print and graphic design; • Insurance including professional indemnity; • Education and training; • Stationery including real estate forms, both printed and electronic; The further expansion of the organisation saw it outgrow its owned premises at Crows Nest, and following the leasing of larger premises in the same area from 1964 – 1967, the Co-operative relocated to its current location in Sydney’s south west, Villawood. During this period, and in order to better service its members outside of the Sydney area, it also established offices in Newcastle and Wollongong. Over the last decade due to a number of external market forces including deregulation of fees, the concept of multiple listing became less effective in the property sector. As a result EAC continued to remain relevant to the real estate industry by reviewing its “reason for being”. EAC is now seen as one of the largest, if not the largest providers of the broadest range of goods and services to the real estate industry.
Apart from its already well established offerings EAC expanded its services to provide cutting edge technology and data services through its Red Square system. EAC provides members with the ability to manage all aspects of listing management as well as access to property records so that members have the ability to obtain accurate data for listing presentations. EAC also provides its members/customers with web site development and maintenance, as well as several other internet based services. From its inception the Estate Agents Co-operative, despite ongoing changes in the real estate industry, has never wavered from its original mission - to provide its members with the opportunity to enhance market share and profitability. It continues to look at all aspects of its business in order to ensure it is in a position to meet its mission. This was clearly demonstrated in 2007 when it launched the realestateworld.com.au web site and rebranded its real estate publications with the same name. It is EAC’s view that the best opportunity the real estate industry has to control its own destiny and provide the best possible and most cost effective service to the real estate consumers in New South Wales (and for that matter Australia), is to have control of its own data and technology. The establishment of the realestateworld. com.au web site and the accompanying suite of pictorial publications provides the industry with this opportunity. EAC thanks all real estate participants for the support they have given over the last 50 years and, with everyone’s ongoing support, looks forward to being of service and celebrating its 100 year anniversary.
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N.R. Shead
(Vice-Chairman)
F.K. Thomas
F.P. Weaver FROM THE BOARDROOM 7th edition
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