Cry Me A River

[artemis]

Anglican Church latest to slag PMs off claiming licensing and regulation the answer to rental shortage. Asked for a copy of this report and was told only available to selected media and political parties. Unbelievable.

Ask Ms Collins (Housing) and Ms Willis (on the Regulations select committee) for a copy, and let them know what the Church told you. Once they have the report she can ask request it is tabled in the House. Probably won't pass the vote but at least it gets something out there.

If they didn't get the report they can start asking written and oral questions - a lot of them.

[Keys]

Pm me. I have a copy.

Actually, come to think of it. I think it is in the public domain. Gimmie a minute or two.

Found it. Here ya go.

[Perry]

Anglican Church latest to slag PMs off claiming licensing and regulation the answer to rental shortage. Asked for a copy of this report and was told only available to selected media and political parties. Unbelievable.

PM me. I have a copy. Actually, found it. Here ya go.

Thanks, Keys.

I could find no reference in the report alleging that regulating PMs would solve the residential rental shortage. Perhaps it was in one of the references?

In the report, was there any reference / distinction made between PM divisions of REAs and 'the rest?' I couldn't find such, but didn't read it all, as I didn't want to regurgitate my evening meal.

Overall, the report shrieks bias, is replete with anecdotes and hearsay, is devoid of balance and includes a huge amount of presumption and speculation.

Not worth the digital electrons it's made of. (paper it's written on)

[Perry]

Another example of those REA ethics which are so splendid.

So mouthpiece Bindi Norwell avers, anyway.

Yet another Supercalifragilisticexpialidocious example. This time, from the top.

Ethics? Whazzems?

Real estate boss in leaky home drama leaves job

[Perry]

Ethics? Whazzem?

Just the sort of folks you want to use to sell your real estate. (Bindi - please take note!)

New Zealanders are unhappy with real estate agents' habit of over-promising and under-delivering on the sales price of their properties. 64 per cent said they received good or excellent service. But there was room for improvement. Just under 20 per cent said they received poor or disastrous service.

The survey showed a significant decline in confidence as vendors went through the sales process. Before it began, 57 per cent were confident that their salesperson would do a good job and they would get a good price. During the process, that dropped to 51 per cent. Once the property sold, only 42 per cent said they were delighted with the performance of the agent.

The issue of how agents "managed down" vendor price expectations was an important one. If agents promised a high price to win a listing, they would lose the confidence of the seller if they then could not deliver. Vendors were also unhappy with the way their agent communicated with them and many vendors said they felt dumped as soon as they signed the listing agreement.

Thirty per cent of vendors did not get a price they were satisfied with.

Watch for the obfuscation and raft of excuses to now flow from the REA.

[Perry]

Such Paragons of Virtue

Another notch for Bindi's belt.
30 Oct 2018

A man who bought a Hawke's Bay property on the strength of a misleading advertisement has been awarded $10,000 from the agent who sold it. The authority found Edwards should have known about the faults in the flue and should have noted there was no hot water in the laundry. She had been "casual" and "sloppy", but had not deliberately misled Bridge and the authority made a finding of unsatisfactory conduct against her.

The authority did not order Edwards to pay for the cost of rectifying the issues, but fined her $5000 and ordered her to undergo training around misleading conduct and misrepresentation. But the authority also said Bridge had been "disingenuous" in claiming he was still misled about the condition of the fence after receiving the building report and photos.

Bridge appealed the authority's finding to the Real Estate Agents Disciplinary Tribunal as he felt the authority had characterised him as someone who lacked integrity. In a recently released finding the tribunal said the authority should not have called Bridge "disingenuous" as there was no evidence his complaint had not been genuine and he was entitled to be treated with dignity.

The tribunal said Edwards should not have carried out the pre-settlement inspection as this was a conflict of interest. Once agreeing to do it, however, she should have done it fairly. She had read the building report and should have taken photos for Bridge showing the identified defects. It concluded that an order of relief was appropriate, but not of the amount sought by Bridge.

Edwards, who had held a real estate licence since 2010 and had an unblemished record, was ordered to pay Bridge $10,000 within 20 working days of October 17. On Tuesday Edwards told Stuff the decision had been appealed and she would not make any further comment at this stage.

REA ethics would do wonders for the property management industry, eh, Bindi?

[Nick G]

That conflicts with my understanding that an a selling agent should not really help interpret a building report for a buyer. I thought the REA had penalized agents for doing so.

[Chris W]

Real Estate agent blocked and misled potential buyer in favour of own client

Debrin Foxcroft09:54, Mar 27 2019

A Tauranga-based real estate agent has been censured after she misled a potential buyer in favour of her own client.
The Real Estate Authority's complaints assessment committee found Rose Tondi guilty of unsatisfactory conduct relating to six breaches of the industry's code.
According to the authority's findings on the 2017 house sale, Tondi blocked viewings by another agent, misled an interested buyer and didn't fully inform the seller there could be more than one offer on his home.


A second real estate agent, Tondi's supervisor Gregory Purcell, has been censured for the advice he gave to Tondi in how to handle the multi-offer situation.

The unnamed seller discovered there had been increased interest in his home when an agent from another branch of the agency contacted him after the sale on April 9, 2017.

The agent revealed Tondi had prevented a potential buyer from viewing the property prior to a final open home, despite having permission to access the house.


She also gave the interested buyer incorrect information regarding the deadline to submit a formal offer.
At the same time, Tondi filed the paperwork for her own client and encouraged the seller to accept the $780,000 while downplaying any other potential offers.


The seller complained to Tondi's supervisor, Purcell, after hearing the potential buyer had wanted to offer $800,000 for the property.

After making no progress with Purcell, the seller then complained to the regulator.

According to the complaints committee, Tondi failed to follow correct procedure for a multi-offer situation.
She also failed to act in good faith, and failed in her fiduciary obligations to the seller.


The committee described the behaviour as falling short of what the public was entitled to expect from a reasonably competent real estate agent.
Tondi was ordered to pay $7000 in damages and costs while Purcell was ordered to pay $3000.


While the seller wanted a written apology, the committee decided this was not appropriate as Tondi continued to deny the committee's findings and showed no remorse for her behaviour.


In addition to the censure and fine, Tondi was ordered to complete training on misleading conduct and misrepresentation.


Source: https://www.stuff.co.nz/business/111...-of-own-client

[Perry]

"no remorse," eh?

[Perry]

A REA Licence Will Fix All Woes

Disgraced real estate agent David Sharma leaves victims with little hope

The victims of an alleged $907,000 real estate scam have been left in no man's land. More than 72 landlords with properties managed by former Ray White real estate agent David Sharma are owed thousands of dollars each.

"The whole issue here though is with Ray White. They allowed him to trade under their brand the whole time he was doing this. They allowed him to do this and now refuse to pay," Craig Nalder said. Ray White chief executive Carey Smith said, "we agree with landlords and tenants that David Sharma is a disgrace to the Real Estate industry and to Ray White," Smith said.

Everyone ducking for cover, running and stumping up with mostly rhetoric and excuses.

No word from her, so we presume that this is just another Jewel in Bindi's Crown.

[Davo36]

Yeah franchisors never step up to make consumers whole when a franchisee goes under.

We see it often with the building companies.

So when dealing with a company like this, you have to remember you're dealing with a small mum and dad business.

[Chris W]

FYI

Buyer made $700k overnight, vendors say real estate agent helped house flip

Susan Edmunds18:01, Apr 01 2019

An Auckland family trust that sold a house for $1.85 million to a buyer who then sold it a month later for $2.55m is taking legal action against its real estate agent.


The Wild family claim real estate agent Martin Honey and Pure Realty breached the Fair Trading Act, and claim there was a breach of contract. The family trust wants $700,000 in damages.


A statement of claim filed to the high Court in Auckland said Honey was negligent and breached fiduciary duties related to the 2016 sale of a Royal Oak home.

Honey and Pure Realty denied all allegations.

The property was lived in by a Ms Wild, who was a single mother. Wild said that, in March 2016, she contacted real estate agent Honey about listing the property for sale. She had seen another she wanted to buy in Grafton, and said she told him she needed the best price possible for her house.

Wild signed an agreement to purchase a Grafton property for $1.8m with settlement on June 9. The deal was conditional on selling her existing house for $2m.


She claimed Honey presented her with an offer of $1.7m from Li Yi Tang, whom she knew as Louisa. The buyer had visited with Honey before the property was on the market and again later, with a person who was believed to be Ron Hoy Fong, a controversial property investment coach who helps people make money out of trading. Her offer was rejected.


Wild was then told there had been two unconditional offers received on the Grafton house she wanted to buy, and she had four days to go unconditional with her offer.


She told Honey she would look at bridging finance and did not want to undersell her house.


An email was sent to everyone who had expressed interest in the Royal Oak property, telling them the vendors' circumstances had changed and offers should be presented in two days.


An open home was held and Honey told Wild there was only one person interested in the $1.7m-plus price bracket.
The family said Honey told them there was no point having an auction.


Another offer was presented from Yan Rong Ren, whom the WIlds said Honey led them to believe was also Louisa, which he denies. It was for $1.85m.
The family trust claimed Wild told Honey the price was below what she thought the house was worth and she didn't want to accept it.


He told the family the house had been marketed well, and there were no other offers and he had been able to talk the buyer up from $1.7m to $1.85m, the claim said.


The offer was accepted, with a clause that said settlement could be delayed until July 29, from June 9, with payment of $10,000.


Another buyer, Yan Mei Li, was then nominated to purchase the property. The Wilds said Li was known to Min Yu Fang, an employee or licensee of Pure Realty.


Settlement took place on July 29, and the property was immediately listed for sale with Pure Realty again.


It was then sold at auction on August 28 for $2.55m.


The family claim Wild wasn't told there was another purchaser who was interested in the property. Wild said she made it clear she did not want to sell the property to someone who would on-sell it.


In April 2018, Honey and Pure Realty were required to answer about 70 questions under oath. The answers to 18 questions did not satisfy the vendors who wanted a court order for Honey to be subjected to oral examination - or for orders directing them to provide sworn answers.


Honey and Pure Realty agreed to provide a further affidavit. But the application for oral examination of Honey was dismissed.


He and Pure Realty were instead ordered to file and serve within 20 days further answers to some of the questions.





Source: https://www.stuff.co.nz/business/111...yer-flip-house

[Perry]

Another Virtuoso Notch in Bindi's Belt

Controversial real estate agent Aaron Drever charged with deception
6 May 2019

Controversial former real estate agent Aaron Drever, who has received 12 disciplinary actions from the Real Estate Authority relating to his behaviour as an agent in West Auckland, has been arrested on charges of deception. Drever, who holds the record for the number of official censures against a real estate agent, appeared in court on May 3 on charges of deception relating to a land sale in 2016.

Amazing what an REA licence can do for 'ethics,' eh what?

[Perry]

I almost tire of this. Almost.
It pains me when Bindi pontificates about how PMs should be licensed REAs.
A universal panacea for all tenant/PM woes, if Ms Norwell is believed. Yeah, right.

Real estate agent who forged colleague's signature to save home has licence cancelled

Amazing what a licence can do for REA 'ethics,' isn't it?

[Perry]

Those REA Ethics & Licence Things Just Keep Getting Better

When is a panacea NOT a panacea?

Real estate boss pleads guilty to 'disgraceful conduct'
2 Aug 2019

The former boss of a major New Zealand real estate chain could lose her agent's licence after admitting to 'disgraceful conduct' over the sale of a leaky home - just three weeks before she was due to face a Real Estate Authority (REA) disciplinary hearing. Corinna Mansell, the former general manager of Remax, had already been part of an out-of-court settlement with Te Awamutu pensioner Margaret 'Jean' Warburton over the Hamilton house Mansell sold her for $490,000 in 2015.

The house - Mansell's former rental property - was discovered to have major weathertightness issues, and has been unoccupied since 2016. Stuff's three-part investigation, The Big Leak, revealed how Mansell passed up five opportunities to disclose that the house had been diagnosed as leaky and had undergone major repairs before she bought it.