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Reality TV, rising interest rates, naughty agents, and much more, here are the REB stories that piqued your interest most across 2022.
The Block 2022’s finale was arguably one of the biggest real estate and pop culture stories of the year. Fresh from a record-breaking auction result, where he fetched over $1.6 million in property for Western Sydney show winners Omar and Oz, real estate coach Tom Panos sat down with Phil Tarrant for a special episode of Real Estate Exposed.
For half an hour, Mr Panos regales stories of what it’s like behind the scenes on the hit renovation show and runs through a number of systems and strategies he employed to achieve his record-breaking feat.
Back in August, this article highlighted some of the legal challenges created as a result of tightening market conditions, particularly centred around arguments over who was “the effective cause of sale”.
The case cited in the article saw Gold Coast property seller refuse to pay the agent commission. The matter was subsequently taken to Southport Magistrates Court, lasting over four years before an eventual financial settlement was reached, although the agent involved in the affair stated his pursuit of the case occurred “purely out of principal”.
Having promised over $30,000 worth of work over a 12-month period for a fee, one Melbourne agent wound up with a date with Melbourne’s Magistrates Court.
The director of Consumer Affairs Victoria, Nicole Rich, serves as a reminder to business owners that “in some cases, people providing goods and services also fall under her agency’s purview”.
At its first monthly board meeting of the year back in February, the Reserve Bank of Australia (RBA) would make the first of many market-dictating cash rate decisions. Could history repeat itself at the central bank’s first meeting of 2023, or will the RBA’s current course continue?
Victorian real estate giant Philip Webb revealed his retirement and succession plans at the beginning of November. An industry giant of 50 years, Philip Webb announced his agency would join up with another East Melbourne office in what was described as a “monumental step for both businesses”.
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