Elite Agent
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Break free from your agency and build a better business
The days of Australia’s high-performing real estate agents working for box-brand franchises are over. Why give away half of your hard-earned commission to somebody who does none of the work and offers precious little support? At UrbanX, we know the most significant factor in a successful sale is you – the agent. Sellers do not care about shopfronts. They want…
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Make a broker your bestie
Organising finance is just one of the hurdles buyers need to overcome to buy a home. Often it’s the source of much pain. But it doesn’t have to be. Establishing a good relationship, built on trust and understanding, can make a real estate agent look like a superstar in the eyes of their buyers and their vendors. Recently I received…
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My staff don’t want to return to work – coming back after COVID-19
As Australia commences its return to normality, the internet is already abuzz with questions about the return of employees to their workplaces. When will it happen? How will it happen? And, increasingly, can I refuse to return when my boss tells me it’s time? On Friday, Prime Minister Scott Morrison announced Australia’s ‘3 Step Framework for a COVIDSafe Australia’. As…
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The best that they can be
Too often as principals we become fixated on how people fit in with our agenda as business owners. We become less concerned with carefully listening and observing the needs of our colleagues and clients and can become focused on our own requirements. Here’s where the French concept of noblesse oblige comes in. Noblesse oblige implies that power, wealth and prestige…
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Clearance rate lifts as on-site auctions ready for return
As auctions prepare to welcome back the public on-site, the clearance rate has enjoyed a boost. CoreLogic notes this week’s preliminary clearance bounced back to 64.5 per cent, marking the first time it has exceeded 60 per cent since late March. Volumes on the other hand, remain subdued. The past weekend saw 473 auctions scheduled, which was down on the…
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The Reserve Bank thinks the recovery will look V-shaped. There are reasons to doubt it
Shutterstock/RBA By Peter Martin, Crawford School of Public Policy, Australian National University The Reserve Bank’s long-awaited two-year forecasts for jobs, wages and growth are frightening, but I fear they are not frightening enough. The bank looks two years ahead every three months. The last set of forecasts, released at the start of February, mentioned coronavirus mainly as a source of…
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Social media as a service
Too often, real estate agents make the mistake of believing that everything has an immediate, clear return on investment (ROI). “So what’s the damage on this social media content, then? What’s it going to cost me, and how many listings are Facebook and Instagram going to get me?” It’s understandable. We know that a minimum amount of calls to buyers…
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Report reveals lead indicators for property market’s return to form
A long-term study by MCG Quantity Surveyors is helping define investor trends which will flag the property market’s bounce back after COVID-19. MCG’s 1000 Assets report is a progressive, four-year analysis of investor direction and sentiment between January 2016 and December 2019. The report also took a pre-COVID snapshot of ‘normal market’ trends in place prior to the crisis. MCG Managing Director Mike Mortlock…
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Emphasis on communication
When the realities of COVID-19 hit, REA Group had to respond quickly. The company’s priority was to support its people and customers while getting behind the real estate industry to navigate through this global pandemic. We talked to CEO Owen Wilson to get his perspective on the impact of COVID-19. How have you professionally and personally needed to adapt in…
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Here’s what 400 people on a Zoom training session looks like
Ray White is pretty famous for its in-house training programs, but in the last six weeks, the real estate group mobilised its 400+ strong corporate staff and moved its entire training calendar online in response to the lockdown in New Zealand and Australia. The combined group has already held some 200 sessions and had almost 15,000 attendances, including 5000 in…
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Auctions and opens are back for NSW
Treasurer Dominic Perrottet and Minister for Health Brad Hazzard said the relaxing of restrictions was a sign of the ongoing success in limiting the spread of COVID-19, but warned there was no place for complacency, with community safety and social distancing to remain an ongoing priority.“Choosing a home is one of the biggest decisions anybody makes, and easing the restrictions…
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Housing policies need change as COVID-19 widens renter-owner divide
The renter-owner gap will widen Despite concerns about house prices plummeting, the spread of COVID-19 is exposing a widening gap in housing markets between those who own zero housing wealth (renters) and those with substantial housing wealth (owners). Australians with little to no housing wealth were already experiencing at least three key types of vulnerabilities before the pandemic in the…
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All roads lead to real estate
Following times of crisis, real estate is traditionally the first to bounce back. COVID-19 bears striking similarities to the Spanish Flu pandemic of 1919, when despite the media creating fear and hysteria through alarmist headlines, capital city housing prices didn’t fall at all. They boomed in 1919 and then continued to rise by more than 10 per cent each year…
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Will it be make or break?
In real estate we’re fixated on searching for the next new thing. In fact, looking for the next solution or product that will transform our business is practically built into our DNA. But the thing that makes us is also the thing that can break us. Over the past five years our industry has transitioned from a corner store-style, relationship…
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What to post on social media during COVID-19
As the current social climate and the property industry continues to change due to COVID-19, it proves to be a confusing phase for real estate agents. When it comes to digital marketing, there are several approaches one can take in response to the new lifestyle changes whilst continuing to be active online. What to avoidOffering personal opinions on the COVID-19…
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Penthouse auction to fund COVID-19 treatment research
In a remarkable act of generosity, an 82-year-old semi-retired builder will donate the entire proceeds from the auction of his luxury coastal penthouse to the Royal Brisbane and Women’s Hospital (RBWH) Foundation Coronavirus Action Fund. Keith Drake, who operated Drake Homes and Pryde Timbers with the assistance of his family for many years, is doing all he can to assist…
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A two-step strategy for sheltering everyone
This article was co-authored by Bevan Warner, CEO of Launch Housing and Ron Wakefield, Professor of Construction, Deputy Pro-Vice Chancellor, International, and Dean, School of Property, Construction and Project Management, RMIT University, and was originally contributed to The Conversation. The original title was The need to house everyone has never been clearer. Here’s a 2-step strategy to get it done.…
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Five steps to help agents thrive during a crisis
There’s no denying the Coronavirus crisis has been devastating to many. The health and economic implications run deep and, depending on the strategy adopted, they could also run long. The human toll on people’s lives and livelihood is immense, and like everyone else, I’m eager for us to move back toward a more certain future. That said, this current event…
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The ultimate guide for remote working and managing remote teams
COVID-19 has meant that we all need to get used to working from home, even if we’ve never done it before. Here are some tips to make working from home more comfortable. 10 Tips for working remotely Dedicate a workspace Designate a specific area in your house for work. This will make it easier to stay focused and separate your…
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How to put together the perfect deal?
You have just sold a house in a prestigious suburb, at what you think is a good price. The vendor had negotiated a lower fee with you already. After the event, you feel that you had put in more than the fee warranted, but the vendor said they could have got a higher price for their property. Does this sound…
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REEF applies for industry award variation for commission-only salespeople
With COVID-19 likely to heavily impact commission-only agents, the Real Estate Employer’s Federation (REEF) has applied for a variation to the Industry Award in a bid to postpone next year’s annual Minimum Income Threshold Amount (MITA) reviews. REEF CEO Bryan Wilcox said the application to the Fair Work Commission was filed by REEF and the Real Estate Employer’s Federation of…
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McGrath CEO Geoff Lucas gives some insights of working from home as he leads a team of 1,800
While the ongoing COVID-19 pandemic impacts all of us greatly, and for many working remotely is a great challenge, my co-workers at McGrath were well prepared. We had already trialled our teams working from home to ensure our tools and systems were in place, so we were fortunate to be ahead of the curve in that respect. Real estate is…
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Updated impacts on real estate businesses due to COVID-19
Recent national legislation due to COVID-19 has included halting traditional open homes and in-person auctions and a six-month moratorium on evictions for tenants in hardship due to the pandemic. Here is how that is playing out in each state. (This post will be regularly updated) Victoria A state of emergency has been declared in Victoria due to the serious risk…
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9 things I’d do as a Property Manager during COVID-19
COVID-19: There is no point of reference for Businesses, Property Managers, Owners and Tenants to refer to, because we’ve never been through this before. This is not “Business As Usual”, and it could be quite a while before a normal operating rhythm returns. To negotiate this period, here’s 9 things I’d be focussed on. Scripts and PracticeThis is one from…
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Why property price growth always leads a crisis recovery
Just as it did with past crises, the adverse economic impact from this coronavirus health crisis will begin its rebound with a real estate surge before anything else. Safe as houses! Residential real estate is the one thing which is common to 25.5 million Australians. After all, shelter is an essential commodity. While we all take one for the team…
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The options so far for rent relief in Australia
What if I can't pay my rent? These are the options for rent relief in Australia Mark Giancaspro, University of Adelaide and David Brown, University of Adelaide You’ve lost income because of the coronavirus crisis and finding it hard to pay the bills. What if you can’t pay your rent? The short answer, if you…
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Progress made on code of conduct for commercial tenancies
The Property Council of Australia has noted today's direction from the National Cabinet for the development of an industry code of conduct for commercial tenancy. "We have been engaging closely with the Commonwealth, state and territory governments on these issues, and will continue to do so to provide the certainty that landlords, tenants and governments…
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$10,000 grants to relieve NSW small businesses
Thousands of small businesses across NSW struggling to cope with the COVID-19 shutdown will receive grants of up to $10,000 under a new assistance scheme announced today by Premier Gladys Berejiklian, Treasurer Dominic Perrottet and Minister for Finance and Small Business Damien Tudehope. The NSW Government will put $750 million into the Small Business Support…
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Moratorium on evictions is not a free ride: Housing Minster
REIA president Adrian Kelly said he welcomed the Minister for Housing Michael Sukkar's words which were a clarification on what a moratorium on evictions means. "A moratorium on evictions doesn't mean rent is not payable, it is. If circumstances mean that payment in full is not possible it is a holding off from payments, not…
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7 best practices for managing a remote team
Like it or not, we’re all going to be working from home for a while. If you don’t need to communicate with anyone or anything on the outside world that’s great. But the reality is for most people, particularly people in real estate, this period will be a steep learning experience. We all know how important relationships are in the…
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Property Manager tips – working from home
Property Manager tips – working from home transcript Hi, I’m Michelle Rigg. I’m the general manager at Rentwest Solutions. We’re a property management company in Perth WA. I want to talk with property managers about just getting ready and preparing properly for working from home, as most of you are now. It is a little bit different in these times…
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Additional $1.1B relief package to help battling Aussies
More help will be given to millions of Australians battling the devastating impacts of coronavirus with a $1.1 billion package which boosts mental health services, domestic violence support, Medicare assistance for people at home and emergency food relief. Prime Minister Scott Morrison said more support would be rolling out immediately to deal with the secondary…
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How to make your business more financially resilient
John Knight is a qualified accountant and business strategist who shared his tips on business resilience in the face of Coronavirus with Sam McLean
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Matt Lahood – The Agency: There’s no COVID-19 manual but there is common sense
“It’s not like you can reach for a Coronavirus manual that’s sitting on the office shelf. The reality is we have to step up as leaders and an industry, and it’s a lot about common sense.” Over the past few weeks, Matt Lahood has been implementing a raft of changes in The Agency that are designed to protect the welfare…
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Federal Government comes out swinging in round 2 of COVID-19 stimulus plan
Following on from last week’s initial stimulus package, the Federal Government yesterday came out swinging with a second round of initiatives designed to support business through the challenge of COVID-19. Last week the Government announced support for business which included 50 per cent cashback on Pay As You Go Withholding (PAYGW), along with incentives to keep apprentices and trainees employed.…
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