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REIQ Journal : November 2008
INDUSTRY NEWS 5 Growing interest in online auctions Queensland real estate agents have shown strong interest in 2bid2.com, with more than 30 new agents registering on the site in the past month. The online negotiation system was launched earlier this year and is designed to create a transparent online negotiation system to assist real estate agents, buyers and sellers alike. Rather than holding an onsite auction, 2bid2 manages the process entirely online. The system took more than two years to create and has been designed by software developers and real estate industry professionals. For more information, visit www.2bid2.com Rate reprieve for borrowers The Reserve Bank of Australia made a surprise decision to cut the cash rate by 100 basis points to 6 per cent in October, providing a much-needed financial boost for borrowers. REIQ managing director Dan Molloy said the rate cut was a very welcome reprieve for homeowners, investors and first home buyers. “This surprise interest rate cut of 1 per cent will assist prospective first home buyers as well as existing borrowers who have been burdened by higher rates over the past two years,” Mr Molloy said. “The Government must now be extra vigilant that the maximum benefit of this and any further rate cuts are passed on to borrowers. As funding costs in the money market ease, lenders should continue to adjust their rates accordingly and without delay. “Given publicity surrounding the robustness of Australia’s banking system, it is more important than ever for existing and prospective homeowners to shop around for the mortgage best-suited to their needs.” Move your business forward. Move more properties. With streamlined designs and engaging technology, Splash will update your business overnight, delivering a solution that’s a breeze to use and surprisingly affordable. You’ll be amazed at the statement it makes about your agency, and how vendors, purchasers and even staff will respond to your business. Contact us to arrange a complimentary design consultation 1300 554 707 or Visit splashdisplays.com.au REIQ Journal November 2008
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