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REIQ Journal : July 2008
10 Industry News Work placements for Griffith students Timely reminder - check registration and licence details Most employers are diligent about checking the validity and currency of sales registration and real estate licences at the time of recruitment, but what process do you have to check these on an on-going basis? It’s not uncommon for agents to move house, not receive their registration or licence reminder and forget or neglect to renew. Failure to have a current registration or licence could result in many thousands of dollars of lost commission, so it makes good sense to ensure that all your staff are properly registered and licensed – even existing staff! Good risk management practice would be to check licences and registration details for all staff on an annual basis. Why not introduce this as an annual process at the end of each financial year? While you are at it you may like to check the currency of drivers’ licences too. People can lose points on their licence over time and may also forget to renew their licence if they have changed address. Consider the consequences if a staff member has an accident with clients in their car while unlicensed? Don’t take chances - check your staff licences and registrations now! One of the requirements for students enrolled in the Bachelor of Business (Real Estate and Property Development) at Griffith University is 250 hours of work placement in the industry. This work-integrated learning involves a three-way relationship between students, the university, and a real estate agency. Work placements provide students with invaluable first-hand experience of how real estate agency practice works in the real world. Work placement can also facilitate valuable relationships for future staff recruitment and provides considerable benefit to students. If your agency would like more information on taking on a student, please contact Griffith industry liaison officer Bev Jurd by phoning (07) 5552 8824 or emailing email@example.com or. Key workers priced out of the housing market in the communities they serve in Brisbane Housing affordability has rapidly deteriorated over the past five years for Queensland’s 91,000 nurses, teachers, police officers, fire-fighters and ambulance officers, according to the inaugural BankWest Key Worker Housing Affordability Report. Two-thirds of council areas in South East Queensland were too expensive for key workers to buy a house in 2007, compared with no unaffordable council areas in 2002. “The majority of nurses, police officers, teachers, fire-fighters and ambulance officers trying to buy a house in Brisbane cannot afford to live in the communities they serve,” BankWest Retail chief executive Ian Corfield said. REIQ Journal July 2008 “The reason is that house prices have increased by 94 per cent in Brisbane since 2002, compared with an average 26 per cent rise in their incomes. Of Queensland’s 91,000 key workers, 45,000 are teachers, 33,000 are nurses, 9,000 are police officers, 2,000 are fire and emergency employees and 2,000 are ambulance officers. Average salaries for Queensland used in this analysis are $44,016 for nurses, $54,632 for teachers, $66,471 for police officers, $56,277 for fire-fighters and $51,528 for ambulance officers. An area is classified as unaffordable if median house prices are more than five times a key worker’s annual earnings. Major findings The Gold Coast is the least affordable council area in South East Queensland. Canberra, Sydney and Perth are Australia’s least affordable capital cities with Melbourne, Brisbane, Adelaide, Hobart and Darwin deteriorating rapidly. Two-thirds of LGAs in Brisbane are unaffordable for key workers. All LGAs in Brisbane are unaffordable for nurses and ambulance officers. Ipswich is the most affordable LGA in Brisbane and its surrounds.