REIV - Property Data Online

Property Data is not available to the general public - so unless you are an agent and pay their monthly fee - pretty hefty- its not for you.

They both access the same database.
 
Property Data is not available to the general public - so unless you are an agent and pay their monthly fee - pretty hefty- its not for you.

Would it be possible to enrol in a TAFE RE course, join REIV as a student member and indefinitely defer the TAFE studies, while continuing to pay REIV subs?

Most importantly, would this allow access to the data (after paying the fee)?

Peter
 
Would it be possible to enrol in a TAFE RE course, join REIV as a student member and indefinitely defer the TAFE studies, while continuing to pay REIV subs?

Most importantly, would this allow access to the data (after paying the fee)?

Peter

Hiya,

As Michael suggested, one must still be practicing as a fully fledged agent, or on behalf of one. Even though I was an REIV representative member for well over a year, and still subscribe as an affiliate member, I am not granted access to PDOL.

Lucky I've still got contacts on the inside ;)

James.
 
As Michael suggested, one must still be practicing as a fully fledged agent, or on behalf of one. Even though I was an REIV representative member for well over a year, and still subscribe as an affiliate member, I am not granted access to PDOL.

Thanks for clearing that up James.

This does seem to be one major difference between property and shares.

Shares are seen as more 'legitimate' than residential property as an investment. Indeed that is their primary aim once their initial purpose of raising capital has been fulfilled.

Whereas the chief purpose of residential property is housing for owner-occupiers, and to a lesser extent, renters. The investment aspects are incidental to everyone except people here (for whom it is fundamental!).

Since second-hand shares are seen as investments first, all manner of information is readily available and must be disclosed by law. It is not necessary to be an existing shareholder, employee or 'know someone' to get things like historical prices.

Property seems backward in comparison; to me the idea that one must be a member of an industry guild to get investment information seems archaic in the extreme. And Victoria has particular difficulties, compared to say WA.

One could argue that a basic info product should be cheaply and reasonably available, with analysis companies (who are not agents) being able to sell value-added versions for more. This would make residential property a much more 'respectable' investment for the 'big end of town' and make the market more transparent.

On the other hand it is possible to argue that transactions done by private contract are of concern only to the parties involved and it is not anyones' business to know the details.

If things persist as they are, we are stuck with a not fully open property market ridden with information imbalances across parties involved. The effect is to transfer market knowledge to the middlemen (ie the real estate industry) and away from buyers and sellers. Thus the property market is very imperfect.

However, I have come around to the view that it may be easier to profit from an imperfect market than a perfect market.

Having recently ordered information for an area I was interested in and seen its poor quality, I know I'll be putting in lower offers than if I had precise prices.

And if one is eventually accepted and I've scored myself a bargain, then the information asymetry of property (compared to shares) could turn from being a disadvantage to an advantage! :)

Peter
 
Back
Top