Helping You Succeed Every Step of the Way
Frequently Asked Questions
1. REOS improves compliance. Does that create more overheads on the agency and/or its licensee-in-charge?
REOS is designed to make compliance easy.
REOS ensures that all required information is collected, stored securely, and used to produce all required records for every real estate agency transaction. This ensures compliance, but the workflows configured into REOS help automate many manual tasks and make these transactions simple and efficient. Agency productivity is improved, and the supervisory burden on the licensee-in-charge is reduced.
2. Our agency already has a management system from another vendor. Can REOS work with that system?
REOS can integrate with a variety of other systems used in real estate agencies, including accounting and payroll, CRM and sales management, marketing, learning management and HR management systems. REOS has a modular design which allows for agencies to select the features relevant to them, and is implemented in technologies that allow for easy exchange of data with third party systems. If an integration is not already available for a third party system, talk to REOS about developing an integration to link your system with REOS.
3. How does REOS ensure that it remains compliant with changes in legislation and regulation?
REOS was founded by practicing real estate agents who are also passionately committed to the development of the industry and its members. Our staff include instructors at registered training organizations (RTOs) and members of industry associations who advise government and regulators and help define the changes to legislation, regulation, and codes of conduct and best practices. REOS also provides RTOs with training content for qualification courses and continuing professional development (CPD) and this training content is included in the embedded training in the product.
The REOS product is provided as a subscription service. Users are always running the latest version of the product, which includes all compliance requirements and training.
4. How secure is the information collected in REOS?
Information entered into REOS can include highly sensitive data such as customer banking details, customer financial reports, property reports, prospect details and market intelligence, or employee performance reviews. This information is protected through:
- User profiles which control user access to data based on their role in the agency
- Encryption of certain data fields in the REOS database, which prevents unauthorized access to data
- Business rules which enforce privacy legislation and regulation
5. Who else is using REOS?
REOS has subscribers in both working real estate agencies and in registered training organizations (RTOs) in NSW. Reference customers can be contacted by arrangement through REOS. The REOS web site features testimonials from agent users, RTO trainers and student agents.
REOS has been adopted by several RTOs to use as the basis for their qualification courses in real estate. Its embedded education content provides the courseware and student access to the product provides hands-on experience for students in performing any of the transactions performed in a real estate agency. Numerous students who have graduated have subsequently subscribed to REOS in their employer agencies.
6. Can REOS help our agency meet its CPD obligations?
The embedded training content in REOS is always up to date with current legislative and regulatory requirements. It can be used to help train agents in areas where they lack knowledge or experience, or to prepare them for a new role in an agency.
Many registered training organizations (RTOs) use this training content to deliver qualification courses and CPD. However, to be recognised as CPD, training must be taken with an RTO. REOS can track the training undertaken by agency staff and provide alerts when action is needed to meet CPD requirements.
7. Can REOS support national organizations?
The REOS product has been designed to provide a platform that can support compliance in any jurisdiction with similar property laws to Australia. It has been configured to support NSW law and regulation, and will shortly be configured to suit Victorian law and regulation, with other Australian states and territories to follow. The REOS product roadmap provides details on the release milestones for these jurisdictions.
8. How do we get information out of our existing systems into REOS?
When you subscribe to REOS there are services provided to configure the system to suit your business needs and to import data from other systems to populate the REOS database. Depending on the systems you already use and which of these you wish to continue using this data import can be more or less complex. If integration with third party systems is required for data exchange additional services may be needed as part of this system set up.
9. What happens to information in REOS if a subscription is discontinued?
The data you enter into REOS belongs to you or your agency. If you choose to end your subscription to REOS, your data will remain your property and can be exported out of REOS if required.
10. How does NSW Fair Trading view REOS?
REOS has been reviewed by a representative from NSW Fair Trading. Read their response on the REOS web site.