We put a clause in that says that the agent has to give the seller details of all persons introduced to the property during their listing period. That way, if the listing runs out and you’re going with another agent, you’ve got a list of names that you can give to the second agent … and say ‘if one these buyers come back, you’re going to have to do a conjunction with the first agent

ljgrealestate

While some of Australia’s markets are firing on all cylinders, many are not, meaning properties can languish on the market for much longer than the standard agent appointment lasts.

If a property doesn’t sell, often the vendor will choose to go with another agent, who may end up securing a sale.

Sometimes this buyer has already had dealings with the first agent, as well as the second but does that mean they’re entitled to the commission, too?

“There is a plethora of case law dealing with agents’ entitlement to commission in circumstances where they have introduced a buyer to a property, who subsequently purchases the property after the agent’s appointment has expired,” Carter Newell Lawyers partner Michael Gapes said.

“The cases demonstrate that the agent will have to establish a causal connection between their introduction of the buyer to the property and the ultimate sale of the property.”

Gapes said that it is clear that by…

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The experts you may need when buying your first home

ljgrealestate

A buyer’s agent is different from a real estate agent in that they don’t look after the seller of the property, but you, the buyer. They’ll work with you to find suitable properties based on your needs and preferences and can also negotiate the often emotionally-draining purchasing process on your behalf. While you can do all of this yourself, a buying agent has access to a wider range of properties that may not be advertised yet, can offer valuable insight into long term growth areas and take some of the hassle out of the property search and buying process.

http://blog.homesales.com.au/news/experts-may-need-buying-first-home/#.WC1B3qdOe28.gmail

photo Linda Debello 姬琳达珍
LREA, LJ Gilland Real Estate Pty Ltd
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What does it mean by ‘returns of over $1 ljgillandrealestate.wordpress.com/2016/10/19/wha… via @GillandDebello

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Interest rates remain unchanged

November 1, 2016

At its meeting today, the RBA decided to leave the cash rate unchanged at 1.5%.

The global economy is continuing to grow, at a lower than average pace. Labour market conditions in the advanced economies have improved over the past year, but growth in global industrial production and trade remains subdued. Economic conditions in China have steadied recently, supported by growth in infrastructure and property construction, although medium-term risks to growth remain. Inflation remains below most central banks’ targets.

Commodity prices have risen over recent months, following the very substantial declines over the past few years. The higher commodity prices have supported a rise in Australia’s terms of trade, although they remain much lower than they have been in recent years.

Financial markets are functioning effectively. Funding costs for high-quality borrowers remain low and, globally, monetary policy remains remarkably accommodative. Government bond yields have risen, but are still low by historical standards.

In Australia, the economy is growing at a moderate rate. The large decline in mining investment is being offset by growth in other areas, including residential construction, public demand and exports. Household consumption has been growing at a reasonable pace, but appears to have slowed a little recently. Measures of household and business sentiment remain above average.

Labour market indicators continue to be somewhat mixed. The unemployment rate has declined this year, although there is considerable variation in employment growth across the country. Part-time employment has been growing strongly, but employment growth overall has slowed. The forward-looking indicators point to continued expansion in employment in the near term.

Inflation remains quite low. The September quarter inflation data were broadly as expected, with underlying inflation continuing to run at around 1½ per cent. Subdued growth in labour costs and very low cost pressures elsewhere in the world mean that inflation is expected to remain low for some time.

Low interest rates have been supporting domestic demand and the lower exchange rate since 2013 has been helping the traded sector. Financial institutions are in a position to lend for worthwhile purposes. These factors are assisting the economy to make the necessary adjustments, though an appreciating exchange rate could complicate this.

The Bank’s forecasts for output growth and inflation are little changed from those of three months ago. Over the next year, the economy is forecast to grow at close to its potential rate, before gradually strengthening. Inflation is expected to pick up gradually over the next two years.

In the housing market, supervisory measures have strengthened lending standards and some lenders are taking a more cautious attitude to lending in certain segments. Turnover in the housing market and growth in lending for housing have slowed over the past year. The rate of increase in housing prices is also lower than it was a year ago, although prices in some markets have been rising briskly over the past few months. Considerable supply of apartments is scheduled to come on stream over the next couple of years, particularly in the eastern capital cities. Growth in rents is the slowest for some decades.

Taking account of the available information, and having eased monetary policy at its May and August meetings, the Board judged that holding the stance of policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.

 

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China’s Major Oil Producers Continue Record-Setting Output Cuts — Fortune

China’s crude oil output fell 9.8% in September from a year earlier in the second-biggest year-on-year decline on record, government data showed, with major producers continuing to shut high-cost wells to rein in spending. Domestic crude output dropped to 15.98 million tonnes, or 3.89 million barrels per day (bpd), near the lowest in six years…

via China’s Major Oil Producers Continue Record-Setting Output Cuts — Fortune

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The apartment market has started to unravel with Brisbane sales and prices falling. Photo: Bradley Kanaris Apart ment construction and demand have started to slow in Brisbane, property consultants Urbis say. Several developers have p aused developments and apartment sales have fallen again in the June quarter for the third consecutive quarter, the lowe st volume since early 2014. Importantly, apartment sale prices had also been steadily decreasing since the end of last y ear, particularly with two-bedroom units. The weighted average sales price for the June quarter was $578,580. This was a decrease of $17,084 since the March quarter with the weighted average sales price decreasing consistently since the Dec ember 2015 quarter, Urbis said. New development launches have also declined. “We are seeing the market continue to sel f-regulate, returning to a more sustainable level of activity and giving the market time to absorb the current stock ava ilable,” Urbis Associate Director

The apartment market has started to unravel with Brisbane sales and prices falling. Photo: Bradley Kanaris

Apartment construction and demand have started to slow in Brisbane, property consultants Urbis say.
Several developers have paused developments and apartment sales have fallen again in the June quarter for the third consecutive quarter, the lowest volume since early 2014.
Importantly, apartment sale prices had also been steadily decreasing since the end of last year, particularly with two-bedroom units. The weighted average sales price for the June quarter was $578,580. This was a decrease of $17,084 since the March quarter with the weighted average sales price decreasing consistently since the December 2015 quarter, Urbis said.
New development launches have also declined.
“We are seeing the market continue to self-regulate, returning to a more sustainable level of activity and giving the market time to absorb the current stock available,” Urbis Associate Director Paul Riga said.
“Essentially the sales are still there but they are much harder to achieve for developers.

“Many of the monitored projects have moved into the construction phase, winding down the level of sales and marketing.”
There are 25 projects due to launch for the rest of the year, bringing to the market a potential 2850 new apartments in Brisbane, half the level of supply at the same time last year.
In Sydney, demand for apartments have also started to slow to more “normalised” levels. Two years ago, many inner-city projects such as Greenland’s North Sydney project Lucent and Country Garden’s Ryde Gardens sold out on the first day of launch.
But over the weekend, Chinese developer Starryland sold 70 apartments out of the 145 offered in the third and final stage of its Promenade Parramatta apartment project. Its first two releases in 2014 and 2015 have sold out.
Iris Capitol’s boutique Hurlstone Park development, “Wattle Hill” managed 16 sales out of 42 apartments.
“Sydney remains solid in its level of transactions, based on preliminary data,” Mr Riga said.
“The level of rental demand is still at a very high peak. Even with the supply of new apartments, there seems to be a demand pulling new projects.
“Even though Sydney has cooled, the rental market is still pushing for more product … but it is area specific.”
Melbourne, like Brisbane, is coming “off peak” and has experienced a slower quarter. But it is still stronger than Brisbane.
Original article published at http://www.domain.com.au by Lin Tan 19/9/16


The apartment market has started to unravel with Brisbane sales and prices falling. Photo: Bradley Kanaris

Apartment construction and demand have started to slow in Brisbane, property consultants Urbis say.
Several developers have paused developments and apartment sales have fallen again in the June quarter for the third consecutive quarter, the lowest volume since early 2014.
Importantly, apartment sale prices had also been steadily decreasing since the end of last year, particularly with two-bedroom units. The weighted average sales price for the June quarter was $578,580. This was a decrease of $17,084 since the March quarter with the weighted average sales price decreasing consistently since the December 2015 quarter, Urbis said.
New development launches have also declined.
“We are seeing the market continue to self-regulate, returning to a more sustainable level of activity and giving the market time to absorb the current stock available,” Urbis Associate Director Paul Riga said.
“Essentially the sales are still there but they are much harder to achieve for developers.

“Many of the monitored projects have moved into the construction phase, winding down the level of sales and marketing.”
There are 25 projects due to launch for the rest of the year, bringing to the market a potential 2850 new apartments in Brisbane, half the level of supply at the same time last year.
In Sydney, demand for apartments have also started to slow to more “normalised” levels. Two years ago, many inner-city projects such as Greenland’s North Sydney project Lucent and Country Garden’s Ryde Gardens sold out on the first day of launch.
But over the weekend, Chinese developer Starryland sold 70 apartments out of the 145 offered in the third and final stage of its Promenade Parramatta apartment project. Its first two releases in 2014 and 2015 have sold out.
Iris Capitol’s boutique Hurlstone Park development, “Wattle Hill” managed 16 sales out of 42 apartments.
“Sydney remains solid in its level of transactions, based on preliminary data,” Mr Riga said.
“The level of rental demand is still at a very high peak. Even with the supply of new apartments, there seems to be a demand pulling new projects.
“Even though Sydney has cooled, the rental market is still pushing for more product … but it is area specific.”
Melbourne, like Brisbane, is coming “off peak” and has experienced a slower quarter. But it is still stronger than Brisbane.
Original article published at http://www.domain.com.au by Lin Tan 19/9/16

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