Database

All agents keep databases of client information and in a real estate business this represents a protectable interest. If an employee of an agency refers new clients into the business, that information legally belongs to the business, not the individual salesperson. Please watch our short video for further information about the handling of client/customer databases.

Read More

Shareholder Agreements

More and more often, companies are allowing their staff the chance to purchase shares in the company, whether a minority share or a larger number. A shareholder agreement is the critical document that sets out the parameters of the business relationship, good governance of a company, who a director can be and what the aims and objectives of the company are. Most importantly it addresses how disputes are handled and the manner in which shareholders may sell their shares and thereby exit the company. Please watch our short video to find out more about the purpose and elements of shareholder agreements.

Read More

Staff Buy-In; What to Consider

Employee buy-ins have long been considered a popular means for companies to attract, compensate and retain talented employees. It provides incentives for employees to perform at the top of their abilities and align their goals with the goals of the company. Companies considering this option need to carefully consider what they wish to achieve and the best strategies for these goals to be realised.

Read More

Real Estate Contracting (Independent Contractors)

It is not uncommon for real estate agencies to hire contractors to perform duties for the business rather than hire employees. There are benefits to be derived by both parties in such arrangements for example, cost savings by the principal or flexibility and tax planning for the contractor. That being said, caution is still advised when considering such agreements. There are certain requirements that the Contractors need to be aware of when operating for themselves for example, Contractors need to be careful when signing agency agreements that they sign in conjunction with the Principal Agent as the Australian Taxation Office requires that 20 percent of the income must be derived from another source other than the principal agent.

Read More