Colour scheme: bright happy colours (blue and green have been suggested, however we recognise your expertise and welcome all your ideas on colour). [15 Jun 2009 - Other suggestions - orange, purple, yellow]
Design style: young, funky, Web 2.0, Apple iPhone app looking, with a touch of 3D-ness (at least look like it's floating off the page). [15 Jun 2009 - A 3D icon or something like the winning design for the CloudNine contest or unicco's entries - http://99designs.com/contests/23151. ]
Design finish: there needs to be a feel of it being HighDef (HD), clear, crisp, sharp with color intensity.
Design elements: the domain name - http://www.buythatrealestate.com.au must be in the logo.
Fonts: your design flair is needed for font selection.
Practical needs: the design needs to be able to scale, from small (business card) to huge (billboard).
Deliverable: a vector graphic file (eg. Illustrator) in CMYK at print resolution (300dpi at least).