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REIQ Journal : September 2008
10 Courtesy RACV ACQUIRES LANDMARK QUEENSLAND RESORT In a major vote of confidence for the Gold Coast tourism market, Victorian motoring organisation RACV has acquired the prestigious Royal Pines Resort at the Gold Coast. CB Richard Ellis negotiated the sale of the landmark resort for an undisclosed price on behalf of Morgan Stanley Real Estate. The sale encompasses the majority of the land and facilities at Royal Pines, including the 330-room Crowne Plaza hotel, a major convention centre, 27hole championship golf course and two sites capable of accommodating three high-rise towers and a mid-rise development project. Sale negotiations are continuing on the remainder of the site, which includes a marina precinct with 350 residential entitlements alongside two additional land parcels which carry a combined 29 residential entitlements. Savills to partner with Barfoot & Thompson in New Zealand Savills has joined forces with Auckland’s biggest real estate company, Barfoot & Thompson, which has more than 65 branches in New Zealand, and will become an independent associate of Savills Australia. Barfoot & Thompson managing director Peter Thompson welcomed the new association. “We’re delighted that Savills has chosen Barfoot & Thompson as its exclusive real estate partner in New Zealand,” Mr Thompson said. “Our clients will benefit from an unbeatable combination of local real estate knowledge and experience, coupled with global access and expertise.” Savills executive chairman Paul McLean said that having a strong New Zealand partner was important to their business. “We have substantial investors from Australia, Asia and beyond who are seeking quality property opportunities and New Zealand is of increasing interest to them,” he said. fundamental for professionalism The REIQ has recently been made aware of situations where member agencies are deliberately undermining their competitors by openly criticising their business or business practices. Members have contacted the Professional Standards Tribunal with grievances, and complaints have also been received from consumers, who recognise the poor professional conduct of the agents involved. REIQ manager business standards Ray Milton warned that openly criticising other agencies could be seen as a contravention of the Standards of Business Practice. “The Standards of Business Practice require members to conduct their business so as to avoid controversy,” he said. “Members are also advised that they should not knowingly make false or misleading statements about competitors, their businesses, or their business practices.” Staff from accredited agencies and individual members should act with fairness and courtesy at all times, particularly when providing an opinion about another agency or real estate professional. Don’t spend hours staring at a blank screen, simply enter the property features and the ad will be written for you in minutes! n, LOG ON NOW Meet your deadlines every time with www.writemyad.com.au Simplifying real estate ad writing REIQ Journal September 2008