Market analysis for buyers

Understanding the current market trends and dynamics

Understanding the current market trends and dynamics is crucial for buyers looking to make informed decisions. Market analysis plays a key role in helping buyers navigate the ever-changing landscape of supply and demand.


By studying market trends, buyers can gain insights into pricing fluctuations, consumer preferences, and competitive forces. This information allows them to anticipate changes in the market and adjust their strategies accordingly. For example, if a particular product is gaining popularity among consumers, buyers can take advantage of this trend by increasing their inventory or negotiating better deals with suppliers.


In addition, understanding market dynamics enables buyers to identify opportunities for growth and expansion. By analyzing market data, buyers can pinpoint emerging markets or niche segments that offer potential for high returns. This knowledge empowers buyers to make strategic decisions that align with their business objectives and maximize profitability.


Ultimately, staying informed about the current market trends and dynamics is essential for buyers who want to stay ahead of the competition. By leveraging market analysis tools and resources, buyers can position themselves as industry leaders and drive success in today's fast-paced marketplace.

Identifying key competitors and their offerings

When conducting a market analysis for buyers, one crucial step is identifying key competitors and their offerings. This involves researching and understanding who else is operating in the same space as your business, what products or services they provide, and how they are positioning themselves in the market.


By analyzing your competitors, you can gain valuable insights into what sets them apart from you, where there may be gaps in the market that you could fill, and how you can differentiate yourself to attract potential buyers. Understanding your competition allows you to benchmark your own offerings against theirs and identify areas for improvement or innovation.


Researching key competitors also helps you stay informed about industry trends and developments. By keeping tabs on what others in your market are doing, you can better anticipate changes in consumer preferences, pricing strategies, or marketing tactics that may impact your own business.


Overall, identifying key competitors and their offerings is essential for any buyer looking to make informed decisions in a competitive marketplace. It provides valuable intelligence that can help you better understand the landscape in which you operate and ultimately drive success for your business.

Gold Coast Buyers Agent

When considering purchasing property on the Coast, having a professional Gold Coast buyers agent is essential for success. A Gold Coast buyers agent offers essential services to support you through the complexities of real estate, from the initial consultation all the way through to the purchase completion. With the local property market expanding consistently, understanding property prices, neighborhood dynamics, and investment potential can be overwhelming without expert assistance. A skilled buyers agent for Gold Coast helps ensure that you make an informed, smart decision that aligns with your goals, whether you're buying a first home, investment property, or luxury real estate.

Why Choose a Gold Coast Buyers Agent?

The Gold Coast real estate market is ever-changing and fast-paced, with a wide range of properties available, from beachfront homes to luxury apartments and suburban family homes. For new homebuyers or seasoned investors, understanding this market can be daunting. A professional Gold Coast buyers agent can help you unlock the full potential of your property purchase.

  1. Expert Knowledge: A buyers agent for Gold Coast brings in-depth knowledge of the region’s real estate landscape. With years of experience, they can identify hidden gems, negotiate on your behalf, and ensure you're aware of all the key factors influencing property values. Their expertise provides an edge in this competitive market.
  2. Efficient Process: Searching for the perfect property can be a time-consuming process, especially in a market as varied as the Gold Coast's. A buyers agent streamlines the search, curating a list of properties that match your preferences and budget, saving you countless hours.
  3. Market Insights: With fluctuating property prices and varying demand across neighborhoods, it's essential to have access to current market trends and property values. A buyers agent provides comprehensive market analysis, ensuring you make a sound financial decision and avoid overpaying for a property.
  4. Exclusive Access: Many of the best properties are sold off-market, and without local connections, they may not be accessible. A Gold Coast buyers agent often has exclusive access to listings not available to the general public, increasing your chances of finding your ideal property.

The Role of a Gold Coast Buyers Agent in Your Property Purchase

The process of purchasing property involves much more than just finding the right home. A buyers agent for the Gold Coast serves as your trusted advisor throughout the entire transaction. They assist with everything from initial consultations to post-purchase support.

  1. Initial Consultation and Briefing: When you first engage a Gold Coast buyers agent, they’ll take the time to understand your unique requirements, whether it's your budget, preferred location, or the type of property you're seeking. By fully understanding your needs, they can identify the properties that best match your criteria.
  2. Property Search and Selection: Once your preferences are established, a buyers agent starts researching and shortlisting properties. They use their local knowledge to find suitable options and arrange viewings, saving you time by eliminating properties that don't meet your needs.
  3. Deal Negotiation and Offer Submission: One of the most valuable services a Gold Coast buyers agent provides is expert negotiation. They can negotiate on your behalf to secure the best possible price and terms for the property. Whether it's negotiating the price, inclusions, or settlement terms, their experience ensures you get the best deal.
  4. Property Inspections and Research and Inspections: A professional buyers agent ensures that all due diligence is carried out before you commit to a property. This includes recommending inspectors for building and pest inspections, assessing the property’s potential for capital growth, and checking local zoning laws to ensure the property meets your long-term goals.
  5. Smooth Settlement: The final stages of the property purchase can be complicated, involving paperwork, legal processes, and final negotiations. A Gold Coast buyers agent manages these details, ensuring a smooth and hassle-free closing experience.

The Advantages of Working with Savvy Fox, Your Trusted Gold Coast Buyers Agent

At Savvy Fox, we pride ourselves on being a top-tier Gold Coast buyers agent with a track record of successful property purchases for our clients. Here’s why working with us can make a difference in your property journey:

  1. Custom Strategy and Personal Service: We take the time to understand your individual property goals and financial situation. Our personalized approach ensures that we identify properties that not only meet your needs but also provide long-term investment potential.
  2. Extensive Network: Our strong relationships with local real estate agents, property developers, and industry professionals give you access to exclusive off-market deals and opportunities that others may not have access to.
  3. Proven Results: Our clients benefit from our comprehensive understanding of the Gold Coast property market. Whether you're a first-time buyer or an experienced investor, we help you make informed decisions that align with your financial goals.
  4. Cost-Effective Strategy: While engaging a buyers agent for Gold Coast involves a fee, it’s a cost-effective strategy when you consider the potential for negotiation savings, market insights, and the value of avoiding costly mistakes.

The Gold Coast Property Market: Trends and Insights

The Coast market is known for its strong growth and potential for capital appreciation, making it a prime location for investment. In recent years, the Gold Coast has become a hotspot for both local and interstate buyers, with properties in certain areas seeing significant price increases.

  1. Growing Buyer Interest: The demand for properties, particularly in areas like Surfers Paradise, Burleigh Heads, and Broadbeach, has been increasing steadily. This trend is expected to continue due to the area's attractive lifestyle amenities, including beaches, parks, and recreational facilities.
  2. Increasing Property Values: Over the past decade, the Coast property market has seen a consistent rise in property values, making it an appealing option for investors looking for long-term growth. With the recent infrastructure developments, including new transport links and urban redevelopment, the market is expected to continue expanding.
  3. Financing Opportunities and Financing: The current low interest rate environment makes it an ideal time for property buyers to invest in real estate. However, navigating financing options and securing favorable loan terms can be challenging without the guidance of an experienced buyers agent for Gold Coast.

Investing in Property on the Gold Coast: What You Need to Know

Investing in property on the Coast offers exciting opportunities, but it requires careful consideration. Whether you're looking for residential or commercial properties, there are several factors to keep in mind. A Gold Coast buyers agent can help you assess the investment potential of a property by considering factors such as location, amenities, rental yield, and future market trends.

  1. Strong Rental Market: The Gold Coast boasts a strong rental market, with both long-term and short-term rental properties in demand. Areas close to the beach, public transport, and major attractions tend to offer the best rental returns.
  2. Profit Potential: The Gold Coast has consistently outperformed many other markets in terms of capital growth, making it a great choice for investors looking for long-term wealth creation.
  3. Expanding Portfolio Options: Investors looking to diversify their portfolios will find plenty of opportunities on the Gold Coast, including residential properties, commercial spaces, and holiday rentals.

Start Your Property Journey with Savvy Fox

If you're ready to take the next step in your property journey on the Gold Coast, Savvy Fox is here to assist you every step of the way. With our professional expertise, extensive market knowledge, and commitment to achieving your property goals, you can trust us to help you navigate the competitive Gold Coast buyers agent market with confidence.

Contact us today to learn how we can assist you in finding the perfect property on the Coast.

The Cost of Living in Gold Coast, Australia

The Gold Coast is a popular place to live in Australia. It offers beautiful beaches, a warm climate, and a relaxed lifestyle. Many people move here for work, study, or retirement. The cost of living varies depending on location, lifestyle, and personal choices. This article provides an overview of key expenses in the Gold Coast.

1. Housing Costs

Housing is one of the biggest expenses in the Gold Coast. Prices depend on the suburb and type of property. Beachfront areas like Surfers Paradise and Broadbeach have higher prices, while inland suburbs like Nerang and Helensvale offer more affordable options.

The average rent for a one-bedroom apartment in the city center is around AUD 2,500 per month. In outer suburbs, the price drops to about AUD 1,800 per month. A three-bedroom house in a central area costs between AUD 750,000 and AUD 1,200,000, while in suburban areas, prices range from AUD 600,000 to AUD 900,000.

2. Utilities and Internet

Electricity, water, and gas bills depend on usage and household size. The average monthly cost for utilities in an apartment is around AUD 200 to AUD 250. A larger home with air conditioning may cost more.

Internet prices vary depending on the provider and plan. A high-speed unlimited plan costs between AUD 70 and AUD 100 per month.

3. Grocery Prices

Grocery costs in the Gold Coast are similar to other major Australian cities. Supermarkets like Coles, Woolworths, and Aldi offer a variety of food options.

  • Milk (1L): AUD 2.50
  • Loaf of bread: AUD 3.50
  • Eggs (12 pack): AUD 6.00
  • Chicken breast (1kg): AUD 12.00
  • Rice (1kg): AUD 3.00
  • Fresh fruits and vegetables: AUD 4.00 - AUD 7.00 per kg

Buying groceries at local markets can be cheaper than supermarkets. Many residents visit farmers' markets for fresh produce and better prices.

4. Eating Out

Dining out in the Gold Coast varies in price depending on the type of restaurant. A meal at an inexpensive restaurant costs around AUD 20 to AUD 30 per person. A three-course meal at a mid-range restaurant costs about AUD 80 to AUD 120 for two people.

Coffee lovers can expect to pay around AUD 5 for a cappuccino or latte. A fast-food meal costs about AUD 12 to AUD 15.

5. Transportation

The Gold Coast has a public transport system that includes buses, trains, and the G:Link light rail. The cost of transport depends on travel frequency and distance.

  • Single bus or tram fare: AUD 4.00
  • Weekly public transport pass: AUD 40 to AUD 50
  • Monthly pass: AUD 140 to AUD 160

Many residents use cars for transport. Fuel prices range from AUD 1.80 to AUD 2.20 per liter. Car insurance and registration add to the cost, with annual fees between AUD 800 and AUD 1,500.

6. Healthcare

Healthcare in the Gold Coast is of high quality. Public hospitals provide free or low-cost treatment for Australian citizens and permanent residents under Medicare. Private healthcare is available for those who want additional benefits.

Private health insurance costs between AUD 150 and AUD 300 per month, depending on coverage. A standard doctor’s visit without Medicare costs around AUD 80 to AUD 120.

7. Education

The Gold Coast has public and private schools. Public schools are free for Australian residents, with small fees for supplies and activities. Private school fees range from AUD 5,000 to AUD 25,000 per year.

For university students, Griffith University and Bond University are major institutions. Tuition fees for domestic students start at AUD 10,000 per year. International students pay higher fees, ranging from AUD 20,000 to AUD 50,000 per year.

8. Entertainment and Leisure

The Gold Coast offers many activities, from theme parks to outdoor adventures. The cost of entertainment varies based on interests.

  • Movie ticket: AUD 20
  • Gym membership: AUD 50 to AUD 100 per month
  • Theme park entry (one day): AUD 90 to AUD 120
  • Annual theme park pass: AUD 200 to AUD 300

Outdoor activities like hiking, surfing, and beach visits are free. Many locals take advantage of the warm climate and natural beauty for recreation.

9. Childcare Costs

Childcare costs in the Gold Coast depend on the type of service. Long day care centers charge around AUD 100 to AUD 150 per day. Family daycare and nannies are other options, with varying rates.

The Australian government offers childcare subsidies to eligible families, reducing out-of-pocket costs.

10. Miscellaneous Expenses

Other costs include mobile phone plans, clothing, and personal care. A standard mobile phone plan costs between AUD 30 and AUD 60 per month. Clothing prices vary, with a pair of jeans costing around AUD 80 and a pair of running shoes around AUD 150.

Haircuts range from AUD 30 for men to AUD 80 for women. Basic toiletries like shampoo and toothpaste cost between AUD 5 and AUD 10 each.

Conclusion

The cost of living in the Gold Coast depends on lifestyle and spending habits. Housing and transport are major expenses, while groceries and dining out vary in price. Public services like healthcare and education are accessible, but private options add extra costs.

Overall, the Gold Coast offers a high-quality lifestyle with plenty of opportunities for work, study, and leisure. Understanding living expenses helps residents and newcomers plan their budgets effectively.

Analyzing consumer behavior and preferences

Analyzing consumer behavior and preferences is crucial in conducting a market analysis for buyers. Understanding what drives individuals to make purchasing decisions can provide valuable insights that businesses can leverage to tailor their products and marketing strategies effectively.


Consumer behavior refers to the study of how individuals or groups select, buy, use, and dispose of goods and services. By delving into factors such as psychological, social, cultural, and economic influences, businesses can better anticipate and meet the needs and desires of their target market.


Preferences play a significant role in shaping consumer behavior. These include personal tastes, lifestyle choices, past experiences, and even external influences like advertising or peer recommendations. By identifying patterns in consumer preferences, businesses can develop products that resonate with their audience and create marketing campaigns that speak directly to their interests.


Market analysis for buyers involves sifting through vast amounts of data to uncover trends and patterns that can inform decision-making processes. By studying consumer behavior and preferences, businesses can gain a competitive edge by offering products or services that cater to specific desires or address unmet needs within the market.


In conclusion, analyzing consumer behavior and preferences is an essential component of market analysis for buyers. By understanding what motivates consumers to make purchasing decisions, businesses can tailor their offerings to meet the needs of their target audience effectively. This not only enhances customer satisfaction but also drives business growth in an increasingly competitive marketplace.

Role of a Gold Coast Buyers Agent
Analyzing consumer behavior and preferences
Evaluating pricing strategies and overall market competitiveness

Evaluating pricing strategies and overall market competitiveness

When it comes to market analysis for buyers, evaluating pricing strategies and overall market competitiveness is crucial. As a buyer, you need to have a deep understanding of the pricing strategies employed by different companies in the market and how they stack up against each other in terms of competitiveness.


Pricing strategies can vary widely among companies, with some opting for low prices to attract cost-conscious consumers, while others may choose to position themselves as high-end brands with premium pricing. By analyzing these strategies, buyers can determine which companies are offering the best value for their money.


Furthermore, assessing overall market competitiveness involves looking at factors such as product quality, customer service, brand reputation, and market share. Buyers need to consider not only the price of a product but also its overall value proposition compared to competitors in the market.


Ultimately, by conducting a thorough evaluation of pricing strategies and overall market competitiveness, buyers can make informed decisions about where to spend their money. This information allows them to find the best deals and ensure they are getting the most value for their purchases.

Assessing potential risks and opportunities in the market

Market analysis for buyers involves assessing potential risks and opportunities in the market to make informed decisions. By carefully evaluating various factors such as market trends, competition, and consumer behavior, buyers can gain valuable insights that help them navigate the complex landscape of modern business.


One of the key aspects of market analysis is identifying potential risks that could affect a buyer's investment or purchasing decisions. This includes understanding factors such as economic instability, regulatory changes, and industry disruptions that may impact the market. By identifying these risks early on, buyers can develop strategies to mitigate their impact and protect their investments.


On the other hand, market analysis also presents opportunities for buyers to capitalize on emerging trends or new markets. By studying consumer preferences, competitor strategies, and technological advancements, buyers can identify areas for growth and innovation within their industry. This allows them to stay ahead of the curve and take advantage of opportunities that arise in a rapidly changing marketplace.


Overall, market analysis is a crucial tool for buyers looking to make smart and strategic decisions in today's competitive business environment. By staying informed about potential risks and opportunities in the market, buyers can position themselves for success and ensure long-term profitability.

Assessing potential risks and opportunities in the market
Developing a comprehensive market strategy for buyers
Developing a comprehensive market strategy for buyers

When it comes to market analysis for buyers, developing a comprehensive market strategy is essential. This involves understanding the needs and preferences of your target audience, as well as identifying opportunities and threats in the market.


To begin with, it is important to conduct thorough research on your target market. This includes gathering information on demographics, buying behavior, and competitors. By understanding who your buyers are and what they are looking for, you can tailor your marketing efforts to better meet their needs.


Once you have a clear understanding of your target audience, you can start developing a strategic plan to reach them. This may involve creating targeted advertising campaigns, leveraging social media channels, or participating in industry events and trade shows.


In addition to reaching out to potential buyers, it is also important to monitor market trends and changes. By staying informed about developments in the industry, you can adapt your strategy accordingly and stay ahead of the competition.


Overall, developing a comprehensive market strategy for buyers requires careful planning and execution. By taking the time to understand your target audience and the market landscape, you can create a successful marketing plan that drives sales and builds brand loyalty.

Buying agents or purchasing agents are people or companies that offer to buy goods or property on behalf of another party.[1] Indent agents or indenting agents (or firms) are alternative terms for buying agents.[2] An indent is an order for goods under specified conditions of sale.[3][4]

There are agents for all kinds of products, from raw material commodities through to specialized custom equipment.

Real estate

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In the United States, agents who buy real estate in this way are also known as property search agents or buyers’ agents and are professionals exclusively acting on behalf of a property buyer who assists the client during the entire purchasing process from sourcing the properties that correspond to the clients' requirements to negotiating the best possible price and terms with the seller and helping the client during the legal process to complete the acquisition.

Buying agents often preview properties on behalf of their clients, shortlist the most suitable, and usually accompany clients to all viewings. In order to ensure the most efficient property viewing experience, most agents offer a chauffeur and sometimes even helicopter viewings to their high-end clients. Often they will also offer personal concierge services which can schedule all viewings, book hotels, transfers and other amenities for the client. These services can be particularly useful to international clients who tend to fly in to view properties. In addition agents are typically able to connect the client with all necessary technical trades people who are required at different stages of the buying process such as lawyers, surveyors and other professionals.

Buying agents might have access to off-market properties through their network of contacts, although this depends on the market conditions and on how well connected the agent is locally.

The ethical behavior is a very important aspect to measure the professionalism of a buying agent: at any time they must advise their clients with no self-interest for their own success fee.

While initially buying agents catered exclusively to wealthier demographics, lately, especially in more competitive markets like London or Paris, the entry-level has significantly dropped to properties valued at around £500,000 or €500,000 (see The Daily Telegraph,[5])

At one end of the spectrum lie the super introduced local property experts who can be an invaluable resource for a buyer who is set on off-market or pre-market properties as well as private deals. These professionals are often able to source off-market because they have close ties with estate agents (or, in the United States, real estate brokers), they know other local intermediaries who may flag exclusive confidential deals, such as lawyers, private bankers, investment managers or other professionals and they sometimes know personally the owners of the best luxury properties for sale in the area they cover. If this is what the buyer is looking for then the size of the company is less relevant as contacts are made over time and lie in the hands of a few experienced professionals who may operate within larger organizations as well as on their own. Buying agents also often have close ties with property developers where the agent can get access to new properties before they come onto the open market.

The better buying agents will also have extensive knowledge of the properties in your target area and will contact owners of suitable properties directly to enquire if they would sell. This does put you in a weaker position in the negotiations but it means that you will have access to properties that other buyers won't and if your buying agent is a skilled negotiator then you may not have to pay a premium.

At the other end of the spectrum there are agencies that act more like relocation companies, well organized, operate in various languages, help their clients with all required paperwork, are well connected to various professionals and other companies in order to provide a full-blown service; these companies may be less capable of scouting off-market transactions or deal directly with private property owners.

Independent buying agents like to stress their autonomy from selling agencies who, depending on the country, either act on behalf of sellers or as mediators between the two parties (See The Independent,[6]). On the other side some well known estate agencies also offer buying services despite reservations over conflict of interest.

Because of the different nature of buying agencies, prospect buyers are often advised to contact more than one company to compare and contrast their benefits. As is often the case, it can be better to hire a professional who is more capable to listen and understand our needs even though his or her company does not entirely tick all the other boxes.

Most buying agents have significant transactional experience; however, like estate agents, only few of these professionals have a surveying qualification so they may not be the best advisors when it comes to valuing the property and predicting future market trends. For this reason the buyer may rely on other advisors or their own judgment before taking an investment decision.

From a geographical standpoint buying agents’ coverage ranges from a rather limited focus on few specific city districts or sub regional areas (a few towns and their surroundings) to nationwide 'chain' services. However each company has a few areas where it is stronger and only in those locations may it be able to deliver a superior value, especially when it comes to sourcing special opportunities. Only few companies in Europe have expanded to cover more than one country by employing different professionals.

There are varying terms for a buying agent which include: property consultant, property acquisition consultant, relocation agent and property finder. As per the above paragraph their skill sets vary slightly but the business is very similar. As this specific section within the property industry is still relatively new, in comparison to estate agents for example, the specific terms used are still debated in each country.

[edit]

In some European countries, like the UK, buying agents do not need to pass any specific exam or get any certification to start practicing their profession while in other countries, like Italy, France or Spain they have to conform to the same qualification and legal requirements as selling agents do, even though the two roles differ substantially. This seeming gap in the regulation may be filled if and when the industry is going to mature.

Fees

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Buying agents fees depend on the specific property market and often vary within a certain country. The overall fee structure is made of a small registration fee which is refundable (provided that the buyer completes the purchase within a certain time defined in the contract) and is charged upfront, and a success fee which is a percentage of the purchase price of the property and is paid at the exchange of contracts or when a preliminary contract is signed.

Buying agents generally require exclusivity meaning that the client cannot continue to search on its own or via estate agents for the duration of the contract, which generally lasts from 3 to 6 months.

French companies are forbidden from charging any registration fees and are required by law to tie all their compensation to the successful completion of the transaction. However good buying agents do not make any profit from the registration fee; the main purpose of the fee is to increase the likelihood that the client is sincerely committed to the purchase; in case they were not they would lose the registration fee after a certain length of time.

The success fee is a percentage of the sale price. Prospect property buyers should know that there are two different arrangements mainly depending on market conditions:

  • In markets where the average selling time of a luxury property is high, buying agents tend to split the fee with the selling agent and therefore the service has no additional cost to the buyer. This happens because the selling agent typically prefers splitting his commission with the buying agent rather than waiting longer to find another buyer and sell the same property. In case the buying agent sources a private deal then they charge up to the selling agent commission (for instance the full 5% in the French Riviera[7] up to 2% in Spain.
  • In very liquid markets (like London or Paris) the buying agent fee is charged on top of the selling agent fee, so the buying agent service comes at an additional cost to the property buyer unless the buying agent is able to find a property that is not sold by an agent. In that case depending on the market buying agents charge an amount up to the selling agent commission (which is generally higher than the buying agent’s fee).
  • Some agents charge a success fee based on the purchase price - this is a fixed percentage. Alternatively other agents charge a fixed amount of money plus a percentage of the saving of the discount to the original asking price.

All these conditions are well specified in the contract agreement that the client signs upfront. Buying agents often claim that they can get a higher discount on the sales price than a private buyer could manage because they better know the prices at which similar properties have been recently exchanged in the market and they make use of good negotiating skills.

A full set of code of ethics is set out by The Property Ombudsman,[8] which any respected buying agent would be a member of.

See also

[edit]

References

[edit]
  1. ^ "What is buying agent?". businessdictionary.com. Archived from the original on 24 August 2013. Retrieved 30 September 2013.
  2. ^ "Indent agent". businessdictionary.com. Archived from the original on 7 August 2019. Retrieved 7 August 2019.
  3. ^ "Indent". businessdictionary.com. Archived from the original on 7 August 2019. Retrieved 7 August 2019.
  4. ^ Buying Agent Guide, 22 January 2023
  5. ^ Christopher Middleton, "Property buying agents: Would you spend £15K just to find a home?", The Telegraph (London), February 26, 2010
  6. ^ Alessia Horwich and Julian Knight, "If sellers have agents, why can't buyers?", The Independent (London), February 21, 2010
  7. ^ "Transaction costs are moderate to high in France", Global Property Guide March 26, 2007)
  8. ^ "Codes of Practice". The Property Ombudsman.

 

Gold Coast
Queensland
Gold Coast is located in Queensland
Gold Coast
Gold Coast
 
Coordinates 28°01′0″S 153°24′0″E / 28.01667°S 153.40000°E / -28.01667; 153.40000
Population 640,778 (2021)[1][2] (6th)
 • Density 972/km2 (2,520/sq mi)
Established 1865 (1865)
Area 414.3 km2 (160.0 sq mi)
Time zone AEST (UTC+10:00)
Location 66 km (41 mi) SSE of Brisbane[3]
LGA(s) City of Gold Coast
State electorate(s)
Federal division(s)  
Mean max temp Mean min temp Annual rainfall
25.4 °C
78 °F
17.3 °C
63 °F
1,252.9 mm
49.3 in
 

The Gold Coast, also known by its initials, GC, is a coastal city and region in the state of Queensland, Australia, located approximately 66 kilometres (41 mi) south-southeast of the centre of the state capital, Brisbane. It is Queensland's second-largest city after Brisbane, as well as Australia's sixth-largest city and the most populous non-capital city.[4] The city's central business district is located roughly in the centre of the Gold Coast in the suburb of Southport.[5] The urban area of the Gold Coast is concentrated along the coast, sprawling almost 60 kilometres, joining up with the Greater Brisbane metropolitan region to the north and to the state border with New South Wales to the south.[6] Nicknames of the city include the ‘Glitter Strip’ and the ‘Goldy’. The demonym of a Gold Coast resident is Gold Coaster.

The area that became the Gold Coast was originally inhabited by the indigenous Yugambeh people. The city grew from a collection of small townships, the earliest being Nerang in 1865. From the 1920s onwards, tourism led to significant economic growth in the region, and by 1959 the Gold Coast was declared a city, with its first skyscraper being built in 1960. The Gold Coast boomed from the 1980s onwards with skyscraper construction. This era was defined by the city's ‘white-shoe brigade' developers, neon lights, and organised crime, particularly the yakuza and the Russian mafia.[7] The late 20th century saw the city's tourism diversify with theme park openings, and in the early 21st century became an international destination for film production.

The Gold Coast has a diverse economy with strengths in health, tourism, arts and culture, and construction, with a GDP of AU$45.3 billion as of 2023.[8] The city ranks highly as one of the country's cultural and creative hotspots,[9] alongside content creators,[10] a growing video games industry,[11] and leads Australia in startups per capita.[12] The Gold Coast is central to the nation's entertainment industry with a major film and television production industry, leading to the city's metonym of Goldywood.[13][14] The Gold Coast is also host of the AACTA Awards and the Gold Coast Film Festival.

The Gold Coast is a major tourist destination with a sunny, subtropical climate and has become widely known for its surfing beaches (such as Surfers Paradise), high-rise dominated skyline, theme parks, nightlife, and rainforest hinterland.

History

[edit]
Women posing for a photo at Main Beach, ca. 1934
Cars on Gold Coast Highway, ca 1965

The Gold Coast is the ancestral home of a number of Indigenous clans of the Yugambeh people,[15] including the Kombumerri,[16] Mununjali,[17] and Wangerriburra clans. Europeans arrived in 1823 when explorer John Oxley explored the Tweed River.[18] The hinterland's timber supply attracted people to the area in the mid-19th century.[19]

A number of small townships developed along the coast and in the hinterland. The western suburb of Nerang was surveyed and established as a base for the industry and by 1870 a town reserve had been set aside.[20] By 1873, the town reserve of Burleigh Heads had also been surveyed and successful land sales had taken place.[21] In 1875, the small settlement opposite the boat passage at the head of the Nerang River, known as Nerang Heads or Nerang Creek Heads, was surveyed and renamed Southport, with the first land sales scheduled to take place in Beenleigh.[22] Southport quickly grew a reputation as a secluded holiday destination for wealthy Brisbane residents.[23]

Post-World War One Era saw the rise of the "seaside shack". The seaside shack provided the opportunity for the coastal "getaway" with modest investment.  From 1914 to 1946, they popped up all along the South Coast. Seaside shacks were exceedingly cheap and were an early use of the concept of recycling. Many were built of disused or second grade timber, all kinds of materials were used for the holiday seaside shack – including fibro cement, metal containers, and left-over farm sheds; even disused trams were sold off as seaside shacks.[24]

After the establishment of the Surfers Paradise Hotel in the late 1920s, the Gold Coast region grew significantly.[25][26] The Gold Coast was originally known as the South Coast (because it was south of Brisbane). However, over-inflated prices for real estate and other goods and services led to the nickname of "Gold Coast" from 1950.[27][28][29][30][31] South Coast locals initially considered the name "Gold Coast" derogatory.[32][33] However, soon the "Gold Coast" simply became a convenient way to refer to the holiday strip from Southport to Coolangatta.[34][35][36][37][38] The Town of South Coast was formed through the amalgamation of Town of Coolangatta and Town of Southport along with the coastal areas (such as Burleigh Heads) from the Shire of Nerang on 17 June 1949 with the effect of having the present-day Gold Coast coastal strip as a single local government area. As the tourism industry grew into the 1950s, local businesses began to adopt the term Gold Coast in their names, and on 23 October 1958 the Town of South Coast was renamed Town of Gold Coast.[39] The area was proclaimed a city, despite the lack of a cathedral, less than one year later on 16 May 1959.[40]

The area boomed in the 1980s as a leading tourist destination. In 1994, the City of Gold Coast local government area was expanded to include the Shire of Albert.[41]

In 2007, the Gold Coast overtook the population of Newcastle, New South Wales, to become the sixth largest city in Australia and the largest non-capital city.[42]

The Gold Coast hosted the 2018 Commonwealth Games.[43]

Demographics

[edit]

In the 2016 census, the urban area of the Gold Coast had a population of 540,559 people.[44] According to the 2016 census, the population of the Gold Coast including rural areas was 569,997. The median age was 39 years old, 1 year older than the nationwide median. The male-to-female ratio was 48.6-to-51.4.[45] The most commonly nominated ancestries were English (29.3%), Australian (22.5%), Irish (8.2%), Scottish (7.5%), and German (3.6%). 64% of people were born in Australia, while the other most common countries of birth were New Zealand (7.9%), England (5.2%), China and South Africa (1.2% each), and Japan (0.7%). Indigenous Australians accounted for 1.7% of the population.[45] The most commonly spoken languages other than English were Mandarin (1.6%), Japanese (1.0%), Korean and Spanish (0.6% each), and Cantonese (0.5%).

According to the Australian Official Census in 2021, the most common religious affiliations in Gold Coast reported were none (43.4%), Catholic (18.2%), Anglican (11.9%), Uniting Church (2.9%), Non-denominational Christian (3.1%), Presbyterian and Reformed (1.9%), Buddhism (1.4%), Pentecostal (1.3%), Baptist (1.1%), Hinduism (1.1%) and Islam (1.0%).[46]

Geography

[edit]
View from the lookout at Purling Brook Falls in the Gold Coast hinterland
Aerial view of Gold Coast suburbs: Mermaid Waters (left) and Broadbeach Waters (right). The image depicts the man-made canals of the city, built to accommodate housing development.

The Gold Coast is approximately half covered by forests of various types. This includes small patches of near-pristine ancient rainforest, mangrove-covered islands, and patches of coastal heathlands and farmland with areas of uncleared eucalyptus forest. Of the plantation pine forests that were planted in the 1950s and 1960s, when commercial forest planting for tax minimisation was encouraged by the Commonwealth government, tiny remnants remain.[47] Most of the Gold Coast area was covered by forest prior to European human settlement and extensive land clearing in the 19th century.[citation needed]

Gold Coast City lies in the southeast corner of Queensland, to the south of Brisbane, the state capital. The Albert River separates the Gold Coast from Logan City, a local government area south of the City of Brisbane.[citation needed]

Gold Coast City stretches from the Albert River, Logan River, and Southern Moreton Bay to the border with New South Wales (NSW) approximately 56 km (35 mi) south, and extends from the coast west to the foothills of the Great Dividing Range in World Heritage listed Lamington National Park.[citation needed]

The southernmost town of Gold Coast City, Coolangatta, includes Point Danger and its lighthouse. Coolangatta is a twin city with Tweed Heads located directly across the NSW border. At

28°10′00″S 153°33′00″E / 28.1667°S 153.55°E / -28.1667; 153.55, this is the most easterly point on the Queensland mainland (Point Lookout on the offshore island of North Stradbroke is slightly further east). From Coolangatta, approximately forty kilometres of holiday resorts and surfing beaches stretch north to the suburb of Main Beach, and then further on Stradbroke Island. The suburbs of Southport and Surfers Paradise form the Gold Coast's commercial centre. The major river in the area is the Nerang River. Much of the land between the coastal strip and the hinterland were once wetlands drained by this river, but the swamps have been converted into man-made waterways (over 260 kilometres (160 mi) in length[48] or over 9 times the length of the canals of Venice, Italy) and artificial islands covered in upmarket homes. The heavily developed coastal strip sits on a narrow barrier sandbar between these waterways and the sea.[citation needed]

To the west, the city borders a part of the Great Dividing Range commonly referred to as the Gold Coast hinterland. A 206 km2 (80 sq mi) section of the mountain range is protected by Lamington National Park and has been listed as a World Heritage area in recognition of its "outstanding geological features displayed around shield volcanic craters and the high number of rare and threatened rainforest species".[49] The area attracts bushwalkers and day-trippers. Important rainforest pollinating and seed-dispersing Black flying foxes (Pteropus alecto) are found in the area and may be heard foraging at night.[citation needed]

The skyline of Surfers Paradise and its surrounds, as viewed from the Home of the Arts

Urban structure

[edit]

The City of Gold Coast includes suburbs, localities, towns and rural districts.

The declaration of Southport as a Priority Development Area (PDA) and new investment into the CBD is driving transformative change and creating new business and investment opportunities.[citation needed]

Suburban canals, as viewed from the Q1

Waterways

[edit]

Waterfront canal living is a feature of the Gold Coast. Most canal frontage homes have pontoons. The Gold Coast Seaway, between The Spit and South Stradbroke Island, allows vessels direct access to the Pacific Ocean from The Broadwater and many of the city's canal estates. Breakwaters on either side of the Seaway prevent longshore drift and the bar from silting up. A sand pumping operation on the Spit pipes sand under the Seaway to continue this natural process.[citation needed]

Residential canals were first built in the Gold Coast in the 1950s and construction continues. Most canals are extensions to the Nerang River, but there are more to the south along Tallebudgera Creek and Currumbin Creek and to the north along the Gold Coast Broadwater, South Stradbroke Island, Coomera River and southern Moreton Bay. Early canals included Florida Gardens and Isle of Capri which were under construction at the time of a 1954 flood.[50] Recently constructed canals include Harbour Quays and Riverlinks completed in 2007. There are over 890 kilometres (550 mi) of constructed residential waterfront land within the city that is home to over 80,000 residents.[citation needed]

Beaches

[edit]
The entrance to Surfers Paradise beach

The city consists of 70 kilometres (43 mi) of coastline, with some of the most popular surf breaks in Australia and the world, including South Stradbroke Island, The Spit, Main Beach, Surfers Paradise, Broadbeach, Mermaid Beach, Nobby's Beach, Miami, North Burleigh Beach, Burleigh Beach, Burleigh Heads, Tallebudgera Beach, Palm Beach, South Palm Beach, Currumbin Beach, Tugun, Bilinga, North Kirra Beach Kirra, Coolangatta, Greenmount, Rainbow Bay, Snapper Rocks and Froggies Beach. There is almost 42 km of unbroken beachfront. Duranbah Beach is one of the world's best known surfing beaches and is often thought of as being part of Gold Coast City, but is actually just across the New South Wales state border in the Tweed Shire.[citation needed]

There are also beaches along many of the Gold Coast's 860 km (530 mi) of navigable tidal waterways. Popular inland beaches include Southport, Budds Beach, Marine Stadium, Currumbin Alley, Tallebudgera Estuary, Jacobs Well, Jabiru Island, Paradise Point, Harley Park Labrador, Santa Barbara, Boykambil and Evandale Lake.[citation needed]

Burleigh Heads beach with Surfers Paradise skyline visible on the horizon

Beach safety and management

The Gold Coast has Australia's largest[51] professional surf lifesaving service to protect people on the beaches and to promote surf safety throughout the community. The Queensland Department of Primary Industries carries out the Queensland Shark Control Program (SCP) to protect swimmers from sharks.[52] Sharks are caught by using nets and baited drumlines off the major swimming beaches. Even with the SCP, sharks do range within sight of the patrolled beaches. Lifeguards will clear swimmers from the water if it is considered that there is a safety risk.[citation needed]

Gold Coast beaches have experienced periods of severe beach erosion. In 1967, a series of 11 cyclones removed most of the sand from Gold Coast beaches. The Government of Queensland engaged engineers from Delft University in the Netherlands to advise what to do about the beach erosion. The Delft Report[53] was published in 1971 and outlined a series of works for Gold Coast Beaches including Gold Coast Seaway,[54] works at Narrow Neck that resulted in the Northern Gold Coast Beach Protection Strategy[55] and works at the Tweed River that became the Tweed River Entrance Sand Bypassing Project.[56]

By 2005 most of the recommendations of the 1971 Delft Report had been implemented. City of Gold Coast commenced implementation of the Palm Beach Protection Strategy[57] but ran into considerable opposition from the community participating in a NO REEF protest campaign.[58] The City of Gold Coast Council then committed to completing a review of beach management practices to update the Delft Report. The Gold Coast Shoreline Management Plan[59] will be delivered by organisations including the Environmental Protection Agency, City of Gold Coast and the Griffith Centre for Coastal Management. Gold Coast City is also investing into the quality and capacity of the Gold Coast Oceanway that provides sustainable transport along Gold Coast beaches.[60]

Climate

[edit]

The Gold Coast experiences a humid subtropical climate (Köppen climate classification Cfa/Cwa), with mild to warm winters and hot, humid summers. The city experiences substantial summer precipitation mostly concentrated in thunderstorms and heavy showers with rain events occasionally lasting up to a few weeks at a time giving residents "the summer blues",[61] while winter is pleasantly mild to warm with little rain. In fact, it is for this pleasant winter weather that both the city and the Sunshine Coast—the coastal region north of Brisbane—are internationally renowned. Extreme temperatures recorded at Gold Coast Seaway have ranged from 2.5 °C (36 °F) on 19 July 2007 to 40.5 °C (105 °F) on 22 February 2005, although the city rarely experiences temperatures above 35 °C (95 °F) in summer or below 5 °C (41 °F) in winter.[62] The average temperature of the sea at Surfers Paradise ranges from 21.5 °C (70.7 °F) in July and August to 27.1 °C (80.8 °F) in February.[63]

Climate data for Gold Coast, Seaway (1992–2020)
Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
Record high °C (°F) 38.5
(101.3)
40.5
(104.9)
36.3
(97.3)
33.3
(91.9)
29.4
(84.9)
27.1
(80.8)
28.9
(84.0)
32.4
(90.3)
33.0
(91.4)
36.8
(98.2)
35.5
(95.9)
39.4
(102.9)
40.5
(104.9)
Mean maximum °C (°F) 33.2
(91.8)
32.7
(90.9)
32.5
(90.5)
29.7
(85.5)
26.9
(80.4)
24.9
(76.8)
25.1
(77.2)
26.5
(79.7)
29.1
(84.4)
31.3
(88.3)
31.8
(89.2)
33.3
(91.9)
33.3
(91.9)
Mean daily maximum °C (°F) 28.9
(84.0)
28.7
(83.7)
28.0
(82.4)
26.1
(79.0)
23.6
(74.5)
21.4
(70.5)
21.3
(70.3)
22.1
(71.8)
24.0
(75.2)
25.4
(77.7)
26.9
(80.4)
28.0
(82.4)
25.4
(77.7)
Daily mean °C (°F) 25.4
(77.7)
25.2
(77.4)
24.5
(76.1)
22.2
(72.0)
19.5
(67.1)
17.3
(63.1)
16.7
(62.1)
17.3
(63.1)
19.4
(66.9)
21.1
(70.0)
23.0
(73.4)
24.2
(75.6)
21.3
(70.4)
Mean daily minimum °C (°F) 21.9
(71.4)
21.8
(71.2)
20.9
(69.6)
18.3
(64.9)
15.4
(59.7)
13.3
(55.9)
12.0
(53.6)
12.5
(54.5)
14.8
(58.6)
16.9
(62.4)
19.0
(66.2)
20.5
(68.9)
17.3
(63.1)
Mean minimum °C (°F) 18.8
(65.8)
19.3
(66.7)
17.6
(63.7)
14.4
(57.9)
10.5
(50.9)
7.9
(46.2)
7.1
(44.8)
7.7
(45.9)
10.5
(50.9)
12.5
(54.5)
15.1
(59.2)
17.0
(62.6)
7.1
(44.8)
Record low °C (°F) 16.7
(62.1)
17.2
(63.0)
13.4
(56.1)
8.9
(48.0)
6.6
(43.9)
3.8
(38.8)
2.5
(36.5)
4.2
(39.6)
7.9
(46.2)
9.4
(48.9)
8.2
(46.8)
14.7
(58.5)
2.5
(36.5)
Average precipitation mm (inches) 136.7
(5.38)
183.4
(7.22)
134.0
(5.28)
118.7
(4.67)
97.6
(3.84)
113.9
(4.48)
49.5
(1.95)
54.8
(2.16)
41.2
(1.62)
87.4
(3.44)
106.7
(4.20)
129.0
(5.08)
1,252.9
(49.32)
Average precipitation days (≥ 1 mm) 8.8 10.3 11.0 8.6 8.1 7.2 5.0 4.3 5.1 6.3 8.0 9.3 92
Average afternoon relative humidity (%) 70 70 68 65 62 58 55 56 62 66 68 69 64
Average ultraviolet index 14 13 10 7 4 3 4 5 7 9 12 14 9
Source: Bureau of Meteorology[64][65][66]

Government

[edit]

Administratively, the Gold Coast is a local government area called the City of Gold Coast. The City of Gold Coast Council has 14 elected councillors, each representing a division of the city. Businessman Tom Tate is the current Mayor of the Gold Coast, first elected in 2012. Former mayors include Ron Clake, Gary Baildon, Lex Bell, Ray Stevens, Ern Harley and Sir Bruce Small, who was responsible for the development of many of the canal estates that are now home to thousands of Gold Coast residents.[citation needed]

At the state level, the Gold Coast area is represented by eleven members in the Legislative Assembly of Queensland. The seats they hold are: Bonney, Broadwater, Burleigh, Coomera, Currumbin, Gaven, Mermaid Beach, Mudgeeraba, Southport, Surfers Paradise and Theodore. Federally, the Gold Coast area is split between five divisions in the House of Representatives: Fadden (northern), Moncrieff (central) and McPherson (southern) are located entirely within the Gold Coast, while Forde (north-west) and Wright (south-west) encompass parts of the Gold Coast and other areas of Southeast Queensland.[citation needed]

Southport Courthouse

Politically, the Gold Coast has often tilted conservative.[67] It was a Country Party bastion for most of the first three decades after World War II, but increasing urbanisation has made it a Liberal stronghold. Labor has historically only done well around Labrador and Coolangatta. Only one Labor MP has ever represented a significant portion of the Gold Coast at the federal level since 1949; the three Gold Coast divisions have only returned Liberals since 1984. At the state level, Labor was fairly competitive in the Gold Coast for most of the early part of the 21st century. However, as part of its massive landslide in the 2012 state election, the Liberal National Party won every seat there. The LNP repeated its sweep of the Gold Coast seats at the 2015 election, and retained all but one Gold Coast seat at the 2017 state election.[citation needed]

Southport Courthouse is the city's major courthouse and has jurisdiction to hear petty criminal offences and civil matters up to A$250,000. Indictable offences, criminal sentencing and civil matters above A$250,000 are heard in the higher Supreme Court of Queensland which is located in Brisbane. There is also a subsidiary Magistrates Court, located at the southern suburb of Coolangatta.[citation needed]

In 2013 a brawl between members of Outlaw motorcycle gangs also called "bikies" who fought each other outside a Broadbeach restaurant caused mass fear to restaurant patrons and police.[68] This led to the toughest anti-bikie laws introduced in Australia known as Vicious Lawless Association Disestablishment Act 2013.[citation needed]

Economy

[edit]
Gold Coast CBD, 2011

In fifty years, Gold Coast City has grown from a small beachside holiday destination to Australia's sixth largest city (and the country's most populous non-capital city). Situated within South East Queensland's growth corridor, the Gold Coast is one of Australia's fastest growing large cities, with a 5-year annual average population growth rate to 2015 of 1.8%, compared to 1.5% nationally.[69] Gross Regional Product has risen from A$9.7 billion in 2001, to A$15.6 billion in 2008, a rise of 61 percent.[70] Tourism remains fundamental to Gold Coast City's economy, with almost 10 million visitors a year to the area.[71] In the past the economy was driven by the population derived industries of construction, tourism and retail. Some diversification has taken place, with the city now having an industrial base formed of marine, education, information communication and technology, food, tourism, creative, environment and sports industries. These nine industries have been identified as the key industries by the City of Gold Coast Council to deliver the city's economic prosperity. Gold Coast City's unemployment rate (5.6 per cent) is below the national level (5.9 per cent).[72] The declaration of Southport as the Gold Coast central business district (CBD) and a Priority Development Area (PDA), as well as new investment into the CBD, is driving transformative change and creating new business and investment opportunities.[citation needed]

The Gold Coast Economic Development Strategy 2013–2023[73] outlines the framework for the city's long-term growth and prosperity. The strategy outlines actions in the following areas, Innovation, Culture, Infrastructure, Competitive business, Workforce, International.

Tourism

[edit]
The hospitality industry contributes significantly to the Gold Coast's economy. The Palazzo Versace is a notable hotel on Main Beach.

The Gold Coast is the most popular tourist destination in Queensland.[74] It is Australia's 5th most visited destination by international tourists.[75] Around 10 million tourists visit the Gold Coast area every year consisting of 849,114 international visitors, 3,468,000 domestic overnight visitors and 5,366,000 daytrip visitors. Tourism is the region's biggest industry,[76] directly contributing more than $4.4 billion into the city economy every year and directly accounting for one in four jobs in the city[77] There are approximately 65,000 beds, 60 kilometres (37 mi) of beach, 600 kilometres (370 mi) of canal, 100,000 hectares of nature reserve, 500 restaurants, 40 golf courses and five major theme parks in the city.[citation needed]

Gold Coast Airport provides connection across Australia and internationally with airlines including Flyscoot, Jetstar, Qantas, Air New Zealand, Virgin Australia and Airasia X. Brisbane Airport is less than one hour from the centre of Gold Coast, and direct trains operate.[citation needed]

Sea World, one of many theme parks on the Gold Coast

Gold Coast City has over 13,000 available guest rooms contributing over $335 million to the local economy each year. Accommodation options available range from hostels to five star resorts and hotels. Tourist attractions include surf beaches, and theme parks including Dreamworld, Sea World, Wet'n'Wild Water World, Warner Bros. Movie World, WhiteWater World, Topgolf, Currumbin Wildlife Sanctuary, David Fleay Wildlife Park, Australian Outback Spectacular, and Paradise Country.[citation needed]

Q1, the tallest building in Australia and the world's tallest residential building upon completion in 2005 (currently the seventeenth tallest)

Since the opening of what was then the world's highest residential tower in 2005 (it is now the 17th highest), the Q1 building has been a destination for tourists and locals alike. It is the second highest public vantage point in the southern hemisphere after the Eureka Tower in Melbourne. The observation deck at level 77 is the highest of its kind in Queensland and offers views in all directions, from Brisbane to Byron Bay. It towers over the Surfers Paradise skyline, with the observation deck 230 metres (750 feet) high, and the spire extending nearly another hundred metres up. In total, the Q1 is 322.5 metres (1,058 feet) high, making it the tallest building in Australia. Another famous tourist attraction are the Surfers Paradise Meter Maids, instituted in 1965 to put a positive spin on new parking regulations. To avoid tickets being issued for expired parking, the Meter Maids dispense coins into the meter and leave a calling card under the windscreen wiper of the vehicle. The Maids are still a part of the Surfers Paradise culture but the scheme is now run by private enterprise.[citation needed]

Chinatown, Gold Coast, is an integral part of the revitalisation of Southport as an international CBD.[78][clarification needed]

Film production

[edit]

The Gold Coast is the major film production hub in Queensland and has accounted for 75%[79] of all film production in Queensland since the 1990s, with an expenditure of around $150 million per year. The Gold Coast is the third largest film production centre in Australia, behind Sydney and Melbourne.[citation needed]

Warner Bros. Movie World

It is the filming site for major motion pictures including Muriel's Wedding (1994), Ghost Ship (2002), Scooby-Doo (2002), House of Wax (2005), Superman Returns (2006), Unbroken (2014), The Inbetweeners 2 (2014), San Andreas (2015), Pirates of the Caribbean: Dead Men Tell No Tales (2017), Kong: Skull Island (2017), Thor: Ragnarok (2017), Pacific Rim: Uprising (2018), Aquaman (2018), Dora the Explorer (2019)[80] and Godzilla vs. Kong (2021).[81]

Village Roadshow Studios are adjacent to the Warner Bros Movie World Theme Park at Oxenford. The Studios consists of eight sound stages, production offices, editing rooms, wardrobe, construction workshops, water tanks and commissary. These sound stages vary in size and have an overall floor area of 10,844 sq metres, making Warner Roadshow Studio one of the largest studio lots in the Southern Hemisphere. The Queensland Government actively supports the film and television production industry in Queensland and provides both non-financial and financial assistance through the Pacific Film and Television Commission.[82]

Culture

[edit]
Home of the Arts

The Gold Coast's culture has been affected by rapid development and traditional marketing programs orbiting around 'sun, sand, surf and sex.'[83]

Despite rapid socio-economic changes and a tourist-centred image, there is evidence of local resident-driven culture (such as surf gangs) in geographical pockets and a broader 'Gold Coaster' identity drawn from globalised resort and real estate marketing material.[84] The Gold Coast hosts cultural activities that attract tourists and residents alike.[citation needed]

Music

[edit]

Music groups in this region include the Northern Rivers Symphony Orchestra and Operator Please. Musicians Cody Simpson and Ricki-Lee Coulter are from the Gold Coast. Music events include Big Day Out, Good Vibrations Festival, Summafieldayze, the Blues on Broadbeach Festival and V Festival (2007–2009).[citation needed]

Arts

[edit]

Home of the Arts (HOTA) is the Gold Coast's premier cultural facility for visual and performing arts with a performance theatre, two cinemas and an underground venue. The theatre has hosted performance by the Imperial Russian Ballet, The Australian Ballet and the Queensland Ballet. Musicals, plays and a variety of performances are regularly scheduled. The city is also home to the Gold Coast City Art Gallery. Film festivals and the Comedy Club host international artists.[clarification needed] A redeveloped Gold Coast cultural precinct opened before the city hosted the 2018 Commonwealth Games.[85]

Sport

[edit]
Carrara Stadium, home of the Gold Coast Suns in the Australian Football League

The two most popular sports on the Gold Coast are Australian rules football and rugby league, of which the city is represented by professional teams in two most popular national competitions:[citation needed]

Team name Competition Sport Years
Gold Coast Titans National Rugby League Rugby league football 2007–present
Gold Coast Suns Australian Football League Australian rules football 2011–present
Gold Coast Convention & Exhibition Centre

Burleigh Bears rugby league football club play in the Queensland Cup and have won four premierships (in 1999, 2004, 2016 and 2019).[citation needed]

Recreational activities on the Gold Coast include surfing, fishing, cycling, boating and golf. The Gold Coast area has numerous golf links, including Hope Island, Sanctuary Cove and The Glades.[citation needed]

Sporting facilities include the Carrara Stadium, Carrara Indoor Sport Centre, Nerang Velodrome and the Sports Super Centre. Some of these facilities are being superseded by newer and larger capacity facilities. Two examples of these are the Gold Coast Convention & Exhibition Centre to play host to a Gold Coast Basketball team and Robina Stadium to host NRL games.[citation needed]

Former World Wrestling Entertainment performer Nathan Jones comes from the Gold Coast, as do Olympic gold medal-winning swimmer Grant Hackett, 2011 US Open tennis champion Samantha Stosur and Sally Pearson (who received the keys to the city).[citation needed]

The Gold Coast has garnered a reputation as a "sporting graveyard", as many of the professional clubs that have represented the Gold Coast in national leagues since the 1980s experience generally poor on-field performances, consistently struggle to support themselves financially, and have generally folded within a decade of being founded; as of 2019 no Gold Coast-based team has won a premiership in a national professional club competition.[86][87][88]

Commonwealth Games

[edit]
Opening ceremony of the 2018 Commonwealth Games at the Carrara Stadium

The Gold Coast hosted the 2018 Commonwealth Games, an international multi-sport event for members of the Commonwealth, held between 4 and 15 April 2018. It was the fifth time Australia had hosted the Commonwealth Games and the first time a major multi-sport event achieved gender equality by having an equal number of events for male and female athletes.[89] More than 4,400 athletes, including 300 para-athletes, from 71 Commonwealth Games Associations took part in the event.[90]

The venues such as Carrara Stadium,[91] Carrara Sports and Leisure Centre,[92] Carrara Indoor Sports Stadium, Gold Coast Convention & Exhibition Centre.[93] Broadbeach Bowls Club[94] Nerang Mountain Bike Trails,[95] Coomera Indoor Sports Centre,[96] Oxenford Studios,[97] The Gold Coast Hockey Centre,[98] Southport Broadwater Parklands,[99] Gold Coast Aquatic Centre,[100] Robina Stadium,[101] The Currumbin Beachfront,[102] and Coolangatta Beachfront[103] were used for the Games.

Olympic and Paralympic Games

[edit]

Gold Coast will be one of the three zones for the 2032 Summer Olympics and 2032 Summer Paralympics in Brisbane to use the venues as the 2018 Commonwealth Games. The Gold Coast Zone will have seven venues, and will host nine Olympic and six Paralympic sports. The Gold Coast Convention & Exhibition Centre will be used for the preliminary Volleyball along with Powerlifting and Sitting Volleyball during the Paralympics. Broadbeach Park Stadium will host Beach Volleyball for Olympics as well in the Football 5-a-side in the Paralympics. The Gold Coast Sports and Leisure Centre will be used for Judo and Wrestling in the Olympics and Boccia in the Paralympics. Southport Broadwater Parklands to be used for Triathlon and Marathon Swimming in the Olympics and will be used for Paratriathlon in the Paralympics. Coomera Indoor Sports Centre will host the Volleyball for the Olympics and will be used for Wheelchair Rugby in the Paralympics. The Robina Stadium will host the preliminary football matches. The Carrara Stadium could potentially host the Cricket matches if the IOC approves cricket in the 2028 Olympic Games in Los Angeles.[104]

Other events

[edit]
Gold Coast Indy 300

The Gold Coast 500 (formerly known as the Gold Coast 600 & Gold Coast Indy 300) is a car racing event held annually, usually in October. The Surfers Paradise Street Circuit through the streets of Surfers Paradise and Main Beach. The Gold Coast 500 typically is accompanied by a range of on and off track events such as the Indy Undie Ball, Miss Indy Competition and the King of Burleigh Hill Billy cart Race which take place in the week prior to and/or during the race weekend. Formerly an IndyCar event, V8 Supercars are now the headline attraction, using a shorter track route, as the circuit was limited following the construction of the Gold Coast Light Rail as the Light Rail line replaced the northbound traffic lanes on Surfers Paradise Boulevard which was previously used as the southern section of the street circuit.[citation needed]

Each June, Coolangatta hosts Cooly Rocks On, a two-week 1950s and 1960s nostalgia festival with free entertainment and attractions, including hot rods, restored cars and revival bands playing music of the era. Every July, more than 25,000 congregate on the Gold Coast from around the world to participate in the Gold Coast Marathon. It is also the largest annual community sporting event held on the Gold Coast. In 2015, it will be held on 4–5 July and the 37th Gold Coast Airport Marathon is set to motivate and challenge more than 25,000 people of all ages and abilities. The Gold Coast Airport Marathon will feature an event for all ages and abilities, including the full Gold Coast Airport Marathon, ASICS Half Marathon, Southern Cross University 10 kilometres (6.2 mi) Run, Suncorp Bank 5.7 kilometres (3.5 mi) Challenge, and Junior Dash over 4 and 2 kilometres (2.5 and 1.2 mi).[citation needed]

In August Currumbin hosts the annual half distance Challenge Gold Coast triathlon, with the 1.9 km swim taking place in the Currumbin River, the 90 km bike going through the Currumbin and Tallebudgera Valleys in the Hinterland, and the 21.1 km run going along the beach to Elephant Rock and Tugun.[105]

Late November to early December sees thousands of school leavers across the country descend on the Gold Coast for Schoolies week, a two-week period of celebration and parties throughout Surfers Paradise, hosted by the City of Gold Coast. The event is often criticised nationally and locally for its portrayal of drinking and acts of violence, however every effort by the Queensland Police Service and State Government to ensure all school leavers have a good time are put into place, including locals volunteering by walking the streets and keeping an eye out for those in need of assistance.[citation needed]

Early each year the Gold Coast hosts one leg of the ASP World Tour of surfing, where some of the world's best surfers compete in the Quiksilver Pro at Coolangatta.[citation needed]

The Arts Centre Gold Coast located in Evandale, features a fine art gallery featuring local and international works from painting to sculpture and new media. In addition, there is a theatre for live productions including musicals as well two arts cinemas showing foreign and independent films from Australia and abroad.[citation needed]

Chinatown, Gold Coast, located in Southport, hosts the annual citywide Lunar New Year festival as well as regular monthly events.[citation needed]

Media

[edit]

Print

[edit]

The daily local newspaper is the Gold Coast Bulletin which is published by News Corporation. National surfing magazine Australia's Surfing Life is published in the Gold Coast suburb of Burleigh Heads by Morrison Media.[citation needed]

Major daily newspapers such as The Courier-Mail and its sibling The Sunday Mail from Brisbane, The Daily Telegraph, The Sunday Telegraph (Sydney), The Sydney Morning Herald and The Sun-Herald from Sydney and The Age, The Sunday Age, The Herald Sun and the Sunday Herald-Sun from Melbourne as well as national publications The Australian and The Australian Financial Review are all available for purchase on the Gold Coast. Other major interstate newspapers and newspapers from neighbouring regions owned by News Corporation or Australian Community Media are also available for purchase via retail outlets on the Gold Coast.[citation needed]

Television

[edit]

The Gold Coast straddles the boundary between the television licence areas of both Brisbane (metropolitan) and Northern NSW (regional): the Brisbane primary channels are Seven's BTQ, Nine's QTQ and 10's TVQ, while the regional affiliates are Seven's NEN, Nine's NBN and WIN Television's NRN.[citation needed]

Both sets of commercial stations are available throughout the Gold Coast, as well as the ABC and SBS television services. Other channels include 10 Bold, 10 Peach, 10 Shake, Sky News Regional (regional only), ABC TV Plus/ABC Kids, ABC Me, ABC News, SBS World Movies, SBS Viceland, SBS Food, NITV, SBS WorldWatch, 7two, 7mate, 7Bravo, 7flix, 9Gem, 9Go!, 9Rush & 9Life. Subscription television service Foxtel is also available.[citation needed]

Of the main metropolitan and regional commercial networks:

  • Nine News produces a half-hour local bulletin at 5:30pm on weeknights, broadcasting from studios in Surfers Paradise. The bulletin airs as an opt-out on the metropolitan station (QTQ9) ahead of the main 6 pm news from Brisbane.[citation needed]
  • Seven News produced a local half-hour bulletin at 5:30pm on weeknights from studios in Surfers Paradise until 21 November 2024. The network retains a newsroom to cover the Gold Coast for its state and national bulletins.[106]
  • NBN airs NBN News, an hour-long regional program combining regional, national and international news – including local opt-outs for the Gold Coast and Northern Rivers – every night at 6pm. It broadcasts from studios in Newcastle with reporters based in Lismore and Surfers Paradise.[citation needed]
  • WIN Television's 10 Northern NSW airs short local news updates for the Gold Coast/Lismore district throughout the day.[citation needed]

Radio

[edit]

There are numerous commercial, ABC and community stations broadcasting along the Gold Coast.[citation needed]

The Gold Coast's FM commercial and community stations include 92.5 Triple M, Hit Network's 90.9 Sea FM, Hot Tomato, 94.1FM, Juice107.3, Radio Metro and 4CRB.[citation needed]

ABC Gold Coast is the local ABC station on the Gold Coast, which is complemented by the ABC's national radio services including Triple J, ABC Radio National, ABC NewsRadio and ABC Classic FM.[citation needed]

A number of narrowcast services are also available on the Gold Coast including Raw FM and Vision Radio.

The Gold Coast can also easily receive Brisbane and Northern NSW FM and AM stations.

Education

[edit]
Bond University in Varsity Lakes

Colleges and universities

[edit]

The Gold Coast is home to two major university campuses: Bond University at Robina and Griffith University at Southport. Southern Cross University also operates a smaller campus in Bilinga near the Gold Coast Airport. TAFE Queensland also has five campuses at Southport, Robina, Benowa, Coomera and Coolangatta.[citation needed]

Schools and libraries

[edit]

There are over 100 primary and secondary schools, both public and private and of a variety of denominations, including the selective state high school Queensland Academy for Health Sciences and single-sex private schools The Southport School and St Hilda's School. The longest established public school on the Gold Coast is Southport State High School, having originally opened in 1916. There are a number of libraries located on the Gold Coast. For a full list see Gold Coast libraries.[citation needed]

Health

[edit]
Gold Coast University Hospital

In 2018, 61.6% of the city's population was overweight or obese.[107]

Infrastructure

[edit]

Utilities

[edit]

Electricity

Electricity for the Gold Coast is sourced from Powerlink Queensland at bulk supply substations which is provided via the National Electricity Market from an interconnected multi-State power system. The Government-owned electricity corporation Energex distributes and retails electricity, natural gas, liquefied petroleum gas (LPG) and value-added products and services to residential, industrial and commercial customers in South-East Queensland.[citation needed]

Hinze Dam

Water supply

The Hinze Dam 15 km (9.3 mi) southwest of Nerang is the population's main water supply. The Little Nerang Dam which feeds into Hinze Dam can supplement part of the city area's water needs, and both are managed by the city council directorate Gold Coast Water. Reforms of the way in which the water industry is structured have been announced by the State Government, with transfer of ownership and management of water services from local government to the state occurring in 2008–09. City of Gold Coast also sources water from Wivenhoe Dam, west of Brisbane for northern suburbs when the Hinze Dam, at one-tenth of Wivenhoe's capacity, becomes low.[citation needed]

Water shortage and water restrictions have been current local issues, and a few new Gold Coast residential areas have recently included dual reticulation in their planning and development to supply water from a new water recycling plant being built concurrently. This will make available highly treated recycled water for use around the home in addition to potable water. The Gold Coast has received world recognition for this scheme in its Pimpama-Coomera suburbs.[108]

Gold Coast Water has the capacity to supply up to 133 megalitres of desalinated water per day.[109]

Transport

[edit]

The car is the dominant mode of transport in the Gold Coast, with over 70% of people using it as their sole mode of travelling to work.[110] The Gold Coast has an extensive network of arterial roads that link coastal suburbs with inland suburbs. In recent years, local and state governments have invested money in transport infrastructure on the Gold Coast to combat the increasing congestion on many of the city's roads. The Gold Coast has an extensive public transport network that includes buses, heavy rail and light rail for commuting to work, visiting attractions, and travelling to other destinations.[citation needed]

The Gold Coast Highway and G:link crossing the Nerang River

Road

[edit]

A number of major roads connect the Gold Coast with Brisbane, New South Wales, and the surrounding areas. The Pacific Motorway (M1) is the main motorway in the area. Beginning at the Logan Motorway (M6) in Brisbane, it travels through the inland Gold Coast region and links with the Pacific Highway at the New South Wales/Queensland border near Tweed Heads. The Pacific Motorway is part of the Brisbane to Sydney corridor. Before the Tugun Bypass was completed in 2008, the motorway ended at Tugun. The Gold Coast Highway services the coastal suburbs of the Gold Coast, including Surfers Paradise, Southport, and Burleigh Heads. Starting at the Pacific Motorway at Tweed Heads, it runs parallel to the coast until it reaches Labrador, where it turns inland to meet the Pacific Motorway again at Helensvale. Other arterial roads include the Smith Street Motorway which connects Southport, Gold Coast's CBD with the M1 in Parkwood. Other major roads include Reedy Creek Road, Nerang–Broadbeach Road, Robina Parkway and Southport–Burleigh Road.[citation needed]

Light rail

[edit]
G:link tram on Surfers Paradise Boulevard

The Gold Coast's light rail service is called G:link, a 20 km (12 mi) line between Helensvale and Broadbeach that also connects the key activity centres of Southport and Surfers Paradise. The G:link was opened in 2014 between Broadbeach and Southport, with an extension to Helensvale completed in 2017 in preparation for the 2018 Commonwealth Games.[111]

Heavy rail

[edit]

Queensland Rail operates an intra-city rail service from Brisbane to the Gold Coast along the Gold Coast railway line. The line follows the same route as Brisbane's Beenleigh railway line, continuing on after reaching Beenleigh. It then follows a route similar to that of the Pacific Motorway, passing stations at Ormeau, Coomera, Helensvale, Nerang and Robina before terminating at Varsity Lakes. An extension of the Gold Coast line to the Gold Coast Airport is proposed.[112]

Bus

[edit]
A TransLink bus in Burleigh Heads

Kinetic Group[113] (formerly Surfside Buslines prior to a re-branding in 2022)[114] operates all public passenger services in the city under contract by Translink which coordinates the public transport network in South East Queensland. Services are frequent during the day, with intervals being as little as 5 minutes. Kinetic Group operates over a fleet of over 400 buses operating on over 70 lines covering the entire city.[citation needed]

Airports

[edit]

The main International Airport, Gold Coast Airport is located in Coolangatta, approximately 22 kilometres (14 mi) south of Surfers Paradise. Services are provided to interstate capitals and major cities as well as to major New Zealand cities, Malaysia, Japan, Indonesia and Singapore.[citation needed] In 2019, it was the sixth busiest airport in Australia.[115]

Smaller private airfields are located in the northern suburbs of Coombabah (Southport Airport) and Norwell (Heck Field), catering to flight training, recreational and general aviation users.[citation needed]

Projects

[edit]

Real Estate

[edit]

The Gold Coast's real estate market is one of the most dynamic in Australia, characterised by a combination of coastal luxury properties, residential developments, and investment opportunities. According to data from SQM Research,[120] the region has experienced significant property value growth in recent years, with both the median house and unit prices showing strong upward trends. The market's appeal is driven by its lifestyle offerings, proximity to major cities like Brisbane, and ongoing infrastructure improvements.[citation needed]

Notable people

[edit]

See also

[edit]
 

References

[edit]
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[edit]

 

 

Lawn signs advertising houses for sale

Real estate agents and real estate brokers are people who represent sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients.[1] Brokers and agents are licensed by the state to negotiate sales agreements and manage the documentation required for closing real estate transactions.

Categories of representation

[edit]

A real estate broker typically receives a real estate commission for successfully completing a sale. Across the U.S, this commission can generally range between 5-6% of the property's sale price for a full-service broker but this percentage varies by state and even region.[2]

Real estate licensing and education

[edit]

In most jurisdictions in the United States, a person must have a license to perform licensed activities, and these activities are defined within the statutes of each state. The main feature of the requirement for having a license to perform those activities is the work done "for compensation". Hence, hypothetically, if a person wants to help a friend out in either selling or buying a property, and no compensation of any kind is expected in return, then a license is not needed to perform all the work. However, since most people would expect to be compensated for their efforts and skills, a license would be required by law before a person may receive remuneration for services rendered as a real estate broker or agent. Unlicensed activity is illegal and the state real estate commission has the authority to fine people who are acting as real estate licensees, but buyers and sellers acting as principals in the sale or purchase of real estate are usually not required to be licensed. It is important to note that in some states, lawyers handle real estate sales for compensation without being licensed as brokers or agents. However, even lawyers can only perform real estate activities that are incidental to their original work as a lawyer. It cannot be the case that a lawyer can become a seller's selling agent if that is all the service that is being requested by the client. Lawyers would still need to be licensed as a broker if they wish to perform licensed activities. Nevertheless, lawyers do get a break in the minimum education requirements (for example, 90 hours in Illinois).[3]

Some other states have recently eliminated the salesperson's license, instead, all licensees in those states automatically earn their broker's license.

The term "agent" is not to be confused with salesperson or broker. An agent is simply a licensee that has entered into an agency relationship with a client. A broker can also be an agent for a client. It is commonly the firm that has the actual legal relationship with the client through one of their sales staff, be they salespersons or brokers.

In all states, the real estate licensee must disclose to prospective buyers and sellers the nature of their relationship [4]

Specific representation laws

[edit]

Some U.S. state real estate commissions – notably Florida's[5] after 1992 (and extended in 2003) and Colorado's[6] after 1994 (with changes in 2003) created the option of having no agency or fiduciary relationship between brokers and sellers or buyers.

As noted by the South Broward Board of Realtors, Inc. in a letter to State of Florida legislative committees:

"The Transaction Broker crafts a transaction by bringing a willing buyer and a willing seller together and provides the legal documentation of the details of the legal agreement between the same. The Transaction Broker is not a fiduciary of any party, but must abide by the law as well as professional and ethical standards." (such as NAR Code of Ethics).

The result was that, in 2003, Florida created a system where the default brokerage relationship had "all licensees ... operating as transaction brokers, unless a single agent or no brokerage relationship is established, in writing, with the customer"[7][8] and the statute required written disclosure of the transaction brokerage relationship to the buyer or seller customer only through July 1, 2008.

In the case of both Florida[8] and Colorado,[6] dual agency and sub-agency (where both listing and selling agents represent the seller) no longer exist.

Other brokers and agents may focus on representing buyers or tenants in a real estate transaction. However, licensing as a broker or salesperson authorizes the licensee to legally represent parties on either side of a transaction and providing the necessary documentation for the legal transfer of real property. This business decision is for the licensee to decide. They are fines for people acting as real estate agents when not licensed by the state.

In the United Kingdom, an estate agent is a person or business entity whose business is to market real estate on behalf of clients. There are significant differences between the actions, powers, obligations, and liabilities of brokers and estate agents in each country, as different countries take markedly different approaches to the marketing and selling of real property.

The difference between salespersons and brokers

[edit]

Before the Multiple Listing Service (MLS) was introduced in 1967, when brokers (and their licensees) only represented sellers by providing a service to provide legal documentation on the transfer real property, the term "real estate salesperson" may have been more appropriate than it is today, given the various ways that brokers and licensees now help buyers through the legal process of transferring real property. Legally, however, the term "salesperson" is still used in many states to describe a real estate licensee.[citation needed]

Real estate broker (or, in some states, qualifying broker)

[edit]

After gaining some years of experience in real estate sales, a salesperson may decide to become licensed as a real estate broker (or Principal/qualifying broker) in order to own, manage, or operate their own brokerage. In addition, some states allow college graduates to apply for a broker's license without years of experience. College graduates fall into this category once they have completed the state-required courses as well. California allows licensed attorneys to become brokers upon passing the broker exam without having to take the requisite courses required of an agent. Commonly more coursework and a broker's state exam on real estate law must be passed. Upon obtaining a broker's license, a real estate agent may continue to work for another broker in a similar capacity as before (often referred to as a broker associate or associate broker) or take charge of their own brokerage and hire other salespersons (or broker licensees). Becoming a branch office manager may or may not require a broker's license. Some states allow licensed attorneys to become real estate brokers without taking any exam. In some states, there are no "salespeople" as all licensees are brokers.[9]

Types of services that a broker can provide

[edit]

Real Estate Services are also called trading services [10]

Real estate brokers and sellers

[edit]

Flat-fee real estate agents

[edit]

Flat-fee real estate agents charge a seller of a property a flat fee, $500 for example,[11] as opposed to a traditional or full-service real estate agent who charges a percentage of the sale price. In exchange, the seller's property will appear in the multiple listing service (MLS), but the seller will represent him or herself when showing the property and negotiating a sales price.[11] The result is the seller pays less commission overall (roughly half) when the property sells.[11] This is because a seller will pay a percentage of the sales price to a buyer's agent but not have to pay a percentage to a seller's agent (because there isn't one; the seller is representing himself).

Brokerage commissions

[edit]

In consideration of the brokerage successfully finding a buyer for the property, a broker anticipates receiving a commission for the services the brokerage has provided. Usually, the payment of a commission to the brokerage is contingent upon finding a buyer for the real estate, the successful negotiation of a purchase contract between the buyer and seller, or the settlement of the transaction and the exchange of money between buyer and seller. Under common law, a real estate broker is eligible to receive their commission, regardless of whether the sale actually takes place, once they secure a buyer who is ready, willing, and able to purchase the dwelling.[12]

Economist Steven D. Levitt famously argued in his 2005 book Freakonomics that real estate brokers have an inherent conflict of interest with the sellers they represent because their commission gives them more motivation to sell quickly than to sell at a higher price. Levitt supported his argument with a study finding brokers tend to put their own houses on the market for longer and receive higher prices for them compared to when working for their clients. He concluded that broker commissions will reduce in future.[13] A 2008 study by other economists found that when comparing brokerage without listing services, brokerage significantly reduced the average sale price.[14]

RESPA

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Real estate brokers who work with lenders can not receive any compensation from the lender for referring a residential client to a specific lender. To do so would be a violation of a United States federal law known as the Real Estate Settlement Procedures Act (RESPA). RESPA ensures that buyers and sellers are given adequate notice of the Real Estate settlement process.[15]

Realtor

[edit]

In the United States, the term realtor is trademarked by the National Association of Realtors, which uses it to refer to its active members, who may be real estate agents or brokers.[16][17][18] In Canada, the trademark is used by members of the Canadian Real Estate Association.[19] Both organizations advise against the use of realtor as a generic synonym for real estate agent.[19]

Continuing education

[edit]

States issue licenses for an annual or multi-year period and require real estate agents and brokers to complete continuing education prior to renewing their licenses. For example, California licensees must complete 45 hours of continuing education every 4 years in topics such as agency, trust fund handling, consumer protection, fair housing, ethics, and risk management.[20]

Organizations

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Several notable groups exist to promote the real estate industry and to assist professionals.

Notable agents and brokers

[edit]

See also

[edit]

References

[edit]
  1. ^ "Real Estate Professionals Explained: Agent, Broker, REALTOR". Real Estate News and Advice | Realtor.com. 2014-03-10. Retrieved 2018-12-27.
  2. ^ "How Much Is Real Estate Agent Commission?". Bankrate. Retrieved 2018-12-20.
  3. ^ "FAQs". www.illinoisrealtors.org. Illinois Realtors. Retrieved August 16, 2018.
  4. ^ "Realtor Code of Ethics - Disclosure" (PDF). Real Estate Association Standards of Business Practice.
  5. ^ "Statutes & Constitution :View Statutes : Online Sunshine". Leg.state.fl.us. Retrieved 2014-02-10.
  6. ^ a b "Outline of types of representation available in Colorado, including Transaction Brokerage" (PDF). Dora.state.co.us. Retrieved 2014-02-10.
  7. ^ Evans, Blanche (2 July 2003). "Florida Implements Default Transactikn Brokerage Statute". realtytimes.com/. Realty Times. Retrieved 2 February 2014.
  8. ^ a b The 2007 Florida Statutes. Chapter 475 Real Estate Brokers — Part I; Real Estate Brokers, Sales Associates, and Schools (ss. 475.001-475.5018), Section 475.278 Authorized brokerage relationships; presumption of transaction brokerage; required disclosures (1) Brokerage Relationships: (a) Authorized brokerage relationships. — A real estate licensee in this state may enter into a brokerage relationship as either a transaction broker or as a single agent with potential buyers and sellers. A real estate licensee may not operate as a disclosed or non-disclosed dual agent ... (b)Presumption of transaction brokerage. — It shall be presumed that all licensees are operating as transaction brokers unless a single agent or no brokerage relationship is established, in writing, with a customer."
  9. ^ "Real Estate Broker's License: Examination and Licensing Application Requirements". New Mexico Administrative Code. State of New Mexico Commission of Public Records. 21 January 2021.
  10. ^ "Real Estate Laws Website". BC Real Estate Laws - Pat 1 Trading Services.
  11. ^ a b c Quigley, John M. (2000). "A Decent Home: Housing Policy in Perspective". Brookings-Wharton Papers on Urban Affairs. 2000 (1): 53–88. CiteSeerX 10.1.1.369.6806. doi:10.1353/urb.2000.0011. ISSN 1533-4449. S2CID 154714417.
  12. ^ "Getting a Brokerage Commission Paid | New York Law Journal".
  13. ^ Daniel Gross (20 February 2005). "Why a Real Estate Agent May Skip the Extra Mile". The New York Times. Archived from the original on 29 May 2015.
  14. ^ B. Douglas Bernheim; Jonathan Meer (13 January 2012). "Do Real Estate Brokers Add Value When Listing Services Are Unbundled?". The National Bureau of Economic Research. Working Paper Series. doi:10.3386/w13796. Retrieved 3 September 2016.
  15. ^ "CFPB consumer laws and regulations RESPA" (PDF). Consumer Financial Protection Bureau. Retrieved 13 October 2021.
  16. ^ Buch, Clarissa (20 April 2023). "What Is a Realtor? A Member of the National Association of Realtors". Realtor.com. National Association of Realtors. Retrieved 17 June 2023.
  17. ^ "Understanding the Difference Between a Realtor and a Real Estate Agent". The CE Shop. Retrieved 19 June 2023.
  18. ^ Colestock, Stephanie (August 13, 2021). "Realtor vs. real estate agent: What's the difference?". Fox Business. Retrieved 20 June 2023.
  19. ^ a b "Using the REALTOR® Trademark in Advertisements - CREA". 12 November 2020.
  20. ^ "Continuing Education Requirements". Ca.gov. California Department of Real Estate. Retrieved 26 June 2023.
  21. ^ "Professional Recognition of our Programs". Real Estate Division at Sauder, UBC. January 8, 2019.
  22. ^ "Real Estate Institute of Canada (REIC)". Thomson Reuters Canada Limited. Retrieved 8 January 2019.
  23. ^ "Lobbying Spending Database: National Assn of Realtors : 2007". Retrieved 2008-10-25.
  24. ^ Kodé, Anna (10 November 2024). "A Real Estate Queen and the Secret She Couldn't Keep Hidden". New York Times.
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