Original article by Roy Morgan
Market Research Update – Page: Online : 17-Jul-23
Join Roy Morgan CEO Michele Levine to discover how trusted or distrusted the real estate sector is, where real estate agents are ranked, what is driving trust and distrust in the real estate sector, and what the real estate industry can do to become more trusted. Michele will unpack these insights from more than 100,000 respondents.
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ROY MORGAN LIMITED
Original article by Lachlan Moffet Gray
The Australian – Page: 16 : 25-Jan-21
Real estate group The Agency has reported revenue of $29.1 million for its latest first half, with the result being a record for the company. Unaudited EBITDA for the half came in at $1.6 million, excluding government benefits like JobKeeper, while the company recorded positive operating cashflow of $1.54 million. The record revenue result came just days after a creditor sought to place The Agency in administration over a disputed fee of $385,000.
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Original article by Duncan Hughes
The Australian Financial Review – Page: 11 : 18-Nov-19
Real estate agents have warned that underquoting is again becoming widespread in the industry, as the residential property market rebounds from the recent downturn. Underquoting was rife during the previous housing boom, and some agents are concerned that the practice is undermining buyers’ confidence. Hoskins Real Estate and one of its directors were recently ordered to pay almost $890,000 in penalties and compensation for underquoting.
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HOSKINS REAL ESTATE
Original article by Su-Lin Tan, Nila Sweeney
The Australian Financial Review – Page: 34 : 22-Aug-19
Some buyers’ advocates have expressed concern that the residential property market is again being affected by underquoting. Melbourne-based Scott Hall notes that there has been a significant decline in underquoting by real estate agents since legislation to crack down on the practice was introduced in 2017. Real Estate Institute of New South Wales CEO Tim McKibbin agrees that underquoting has become less prevalent in recent years.
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THE REAL ESTATE INSTITUTE OF NEW SOUTH WALES, FAIR TRADING NSW, VICTORIA. DEPT OF JUSTICE AND REGULATION. CONSUMER AND BUSINESS AFFAIRS VICTORIA, RAINE AND HORNE PTY LTD
Original article by Su-Lin Tan
The Australian Financial Review – Page: 35 : 21-Aug-18
Listed real estate agency McGrath has reported a net loss of $63 million for 2017-18, which includes an impairment expense of $59 million after writing off its entire goodwill. McGrath recorded EBITDA of $1 million, while revenue fell by 23 per cent to $99 million. Its full-year fees from property management were down, with the number of properties managed by company-owned agencies declining from 7,463 to 7,215.
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McGRATH LIMITED – ASX MEA
Original article by Duncan Hughes, Su-Lin Tan
The Australian Financial Review – Page: 11 : 10-May-18
Real estate agents and property brokers have questioned the effectiveness of the Federal Government’s proposed crackdown on the cash economy. They argue that many agents no longer accept cash payments, while people will be able to bypass the proposed limit of $A10,000 for cash payments by making a series of smaller payments in cash. Farmers also warn that the crackdown may not be effective, noting that cash payments are rife in the horticulture industry.
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BLACK DIAMONDZ PROPERTY CONCIERGE, N1 HOLDINGS LIMITED – ASX N1H, AUSTRALIAN TAXATION OFFICE
Original article by Su-Lin Tan
The Australian Financial Review – Page: 8 : 23-Jan-18
Listed real estate firm McGrath advised the ASX of an earnings downgrade on 22 January. McGrath reported that it expects to make a loss of $A50,000 for the first half of 2017-18, although internal documents provided to a newspaper suggested that the figure might be a lot higher. Past employees of McGrath suggest that the figures it provided to the ASX were somewhat optimistic. It is also understood that Peter Malouf recently resigned as head of training at McGrath, as did Michael Conolly as head of network property management.
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McGRATH LIMITED – ASX MEA
Original article by Robyn Ironside
The Australian – Page: 13 & 18 : 18-Jan-18
REA Group has advised that real estate agent John McGrath has stepped down as a director of the online property listings group. McGrath is said to have resigned from REA’s board for personal reasons, and Gareth James of Morningstar says it would not be a surprise if McGrath chose to focus on his real estate business. McGrath Limited’s profits and share price fell sharply in 2017, prompting speculation that it could delist from the stock exchange. John McGrath was on the REA board for almost 19 years, and he owns $A10.9m worth of shares in the group.
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REA GROUP LIMITED – ASX REA, McGRATH LIMITED – ASX MEA, REALESTATE.COM.AU, MORNINGSTAR PTY LTD, CORELOGIC AUSTRALIA PTY LTD
Original article by Damon Kitney
The Australian – Page: 15 : 9-Jan-17
Ray White Real Estate chairman Brian White has ruled out an IPO. CFO Andrew Jamson says White hopes Australia’s largest real estate firm will remain a family-owned company into the fifth generation. Meanwhile, McGrath Limited’s shares are trading at around $A0.90, compared with an issue price of $A2.10 in late 2015, while founder John McGrath resigned as CEO in August 2016. Another family-owned real estate firm, LJ Hooker, dropped plans for an IPO in 2016.
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RAY WHITE REAL ESTATE, McGRATH LIMITED – ASX MEA, LJ HOOKER (AUSTRALIA) PTY LTD, BELL POTTER SECURITIES LIMITED, JP MORGAN AUSTRALIA LIMITED, LEIGHTON HOLDINGS LIMITED, RAMS HOME LOANS PTY LTD
Original article by Darren Davidson
The Australian – Page: 21 : 29-Sep-16
The Australian Competition & Consumer Commission recently blocked a proposal by Property Media Group to engage in collective bargaining with REA Group and Domain regarding advertising rates for property listings. Property Media Group, which comprises a consortium of 170 real estate agents, has agreed to withdraw its proposal in response to the ACCC’s draft determination in late August. REA Group CEO Tracey Fellows says the listed group supports the ACCC’s ruling.
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REA GROUP LIMITED – ASX REA, DOMAIN.COM.AU, FAIRFAX MEDIA LIMITED – ASX FXJ, PROPERTY MEDIA GROUP, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS
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