Elite Agent
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Call for industry to stop using the term ‘off market’
A real estate expert has spoken out against using the term ‘off market’, claiming it is confusing and misleading customers. Starr Partners CEO Douglas Driscoll urged agents to reassess their use of ‘off-market’, which is used to describe properties up for sale without being advertised on the major property portals. “There’s no such thing as an off-market property – in…
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Future proofing in the tech age
Working closely with many of Australia’s leading agents allows us to see what separates the best agents from the pack. Despite the transformation in real estate right now, it almost always comes down to the same factors. The best agents have mastered four things: prospecting, listing, negotiating and – of course – selling. We believe that as digital disruption continues…
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Leveraging your assets
Leveraging your assets With so many new and exciting tech offerings in real estate, it would be easy to become swamped without knowing if what you’re doing is working. Caroline Bolderston explains why sometimes keeping it simple is best. Humans are a complex bunch. Many of us are attracted to what is new, exciting and…
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Business without borders: Inside eXp Realty
Since its inception in 2009, eXp Realty has broken new ground with its cloud-based real estate brokerage. Now that the USborn realtor has expanded to Australia, Kylie Dulhunty takes a look at what the virtual agency has to offer on our shores. The rapidly burgeoning cloud brokerage, eXp Realty, has hit Australian shores with its…
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Empathy and Understanding the key to service
In an increasingly technological world, David Holman knows people are more important than ever. The Direct Connect Chief Executive Officer says the moving services company’s employees and the vibrant culture within the organisation are what makes things tick. Of course, technology aids their workflow and makes things easier for customers, primarily renters who are moving house, to connect services such…
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Eyes onsite: Architects respond to ABC 7.30
A commitment to safety, quality and putting the consumer first is the only way to restore confidence and ensure the ongoing integrity of Australia’s construction industry, according to the Australian Institute of Architects. Responding to the ABC 7.30 three-part series on defects in the construction industry, which concluded this week, National President Professor Helen Lochhead said solutions that address these…
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10 things to attract top Gen Z talent to your business
It wasn’t that long ago that folks out there were scratching their heads trying to work out ways of attracting, recruiting and retaining millennials to businesses. Now, with the 2019 HSC well underway and school leavers looking for jobs the conversation needs to turn to attracting Generation Z talents to businesses. So push the smashed…
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The new frontier of auctioneering
David Scholes has carved out a hugely successful career as a real estate auctioneer. His former business AuctionWorks handles over 70% of commercial property auctions on the Australian Eastern Seaboard and David has personally called about 35,000 transactions. But he didn’t necessarily start with aspirations to be in real estate, nor in auctioneering. Instead, the self-confessed country boy started in…
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Strategic marketing wins award for Pivotal Financial
Pivotal Financial, the RE/MAX Australia-owned finance group, has had back-to-back wins in the annual Connective Excellence Awards taking out the Marketing Award for 2019. "We'd established a powerful brand identity through our efforts in the 2017/2018 financial year," said Pivotal Financial general manager Matthew Andrews, "and the 18/19 focus was to promote the brand to…
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How to set yourself free from negative thinking
OUR MIND IS PERHAPS the most advanced piece of technology in existence, but it is not without a glitch or two. Pancho Mehrotra delves into negative thinking patterns, how they can hold us back and how to set ourselves free. In the current challenging economic climate, many people struggle to change the way they react…
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Incentive structures for BDMs and how to calculate packages
Q: What incentive structures do you recommend for a BDM? A: There are many incentive structure options. However, my preference is to incentivise on both volume of results and revenue generated. Of course, consideration also needs to be given to the base package and allowances in place for the individual. The structure must also motivate the BDM and make financial…
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Move over Airbnb, it’s time to share the pool and the backyard
The world of real estate services enabled through PropTech changes so fast we’ve completed a round-up of some of the other innovations that have caught our attention. Torii Boston-based disruptor Torii knows that buying a home can be hard. Founded in 2017, the PropTech startup offers homebuyers a full suite of services, including…
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Report hopeful for future of real estate despite record low listings
An influential property figure has accused state governments of being “addicted to the revenue” they receive from stamp duty and fees, resulting in record low listings across the country. John McGrath this week released the McGrath Report 2020, in which he claimed upgraders in big cities were paying close to $100,000 in fees and “absurdly…
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Tech startups making waves
Wouldn’t it be great if you could predict the price a home would sell for? Don’t you wish you could pay your selling agent a set fee based on the listing price of your home instead of the sale price? Do you yearn for a real estate assistant to help you wade through the millions of property listings and find…
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Staging guide to help sellers boost prices
Real estate's lifestyle brand Better Homes and Gardens Real Estate LLC has launched its exclusive Staging Inspiration Guide for its sales professionals complete with tips and suggestions for every room in the home. The 14-page resource, featuring products from the Better Homes & Gardens product collection, today at the brand's annual Owner's Retreat conference in Aspen,…
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Auctions aren’t simply for the top-end properties
Sellers who have taken their homes to auctions in spring have been scoring results well above the median prices for their respective cities. Analysis from Domain showed the median price for properties sold at auction in Sydney on Saturday was $1,177,500. The amount is in stark contrast with Sydney’s median home price of $805,424 (CoreLogic).…
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Elite Agent primer: Walk on the wide side
Apple and Amazon have drawn battle lines for the smart home, with their products Wideband and Sidewalk. The Internet of Things technology is impacting the real estate industry in a big way. This is because this new technology handles a large number of devices including lighting systems and thermostats as well as electrical outlets and…
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Learning from the best at Street MBA Sydney
Where better to learn from the best of the best (and eat our weight in food); Sydney! Our Street MBA headed to Sydney in September and it didn’t disappoint! We were lucky enough to visit some of the best in the business: Di Jones, Novak Properties and The Agency. Whilst very different business models, the…
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How to use technology to solve your problems
Tech-driven problem solving In a world that moves at an ever increasing pace, it can be hard to know how to keep up. Josh Phegan takes a look at how using technology can solve your problems and which apps he thinks are game-changers. The problem is not the problem. The way you think about the…
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How to focus on the process first and the goal second
Q: What would you suggest I do to finish the year strongly? Matt Newey, Fitzpatricks Real Estate, Wagga A: If you need to bring your A-game to the rest of the year, there are several things you need to ‘marry’. Most agents get stuck focusing on a goal, a result or an outcome, and if you’re not on track to…
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Don’t stop me now – real estate’s elder statesmen
Ken McCarthy doesn’t know the meaning of the words ‘slow down’. At the spritely age of 89, the Ray White Helensburgh Director is one of Australia’s oldest real estate agents. There must be something about the name Ken as down south, in Geelong, Elders Rural Real Estate Sales Manager Ken Drysdale, 69, is also one of the profession’s elder statesmen.…
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Megan Van Hoeyen: Know every client
On getting into real estateI think I chose real estate as a kid. My first memories include the unique houses that Mum and Dad nearly bought, so while still in high school I started creating connections. On graduation day I called the business owner of Ray White Shailer Park and arranged my apprenticeship. It took a few years to realise…
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Three ways to boost employee engagement
Insights from Forbes, PwC, HBR and human resources professionals show the cost of replacing staff can fall anywhere between 20 and 231 per cent of an employee’s salary. Negative job growth has struck the property industry in the past five years, while the employment outlook nationwide indicates a rise on the horizon, with an estimated growth of 5.9 per cent.…
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10 tips to becoming more confident and closing more deals
Confidence is something people are looking for in order to go to for bigger clients, talk to important people or even speak in front of an audience. Because let's face it - if you can be confident in your personal and professional life it might make you believe you can get things done (especially if…
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Top 5 areas to monitor in property management
In all areas of business, what gets measured gets done, and of course Property Management is no exception. But with so many areas, it can be difficult to know what to measure. Whether you love or hate numbers, knowing the position of your business and the metrics for success is imperative. Of course, these numbers…
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5 ways real estate businesses can save money on technology
I may not be across every technology opportunity in the industry, but I do see the impact it can have on a business. More specifically, I see the impact technology changes can have on its bottom-line profitability. If you can juggle the changes required to introduce new technology, the rewards can be huge. Get it wrong though and it will…
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Steve Carroll: Leadership in a digital age
By 2020, millennials will make up 50 per cent of the workforce. Whether or not you think technology has changed the face of leadership, three things we can agree on are: 1. The expectations of our employees, driven by millennials, are increasing dramatically. 2. The fundamentals are in place. However, they only keep our employees engaged for a short time.…
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Sales agent commissions tied to vendor ratings
A Brisbane-based business has established the nation’s first carrot-and-stick agency model – and it gives clients direct influence on how much agents can earn. Under the model introduced by UrbanX, vendors can rate their sales agents, with the size of agent’s commissions on the line, if their service and results prove to be regularly sub-par. Head of UrbanX, Dan Argent,…
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What does the future of real estate hold?
Tony Morrison has always loved to talk numbers. The Harcourts Tasmania and Victoria Chief Executive Officer has been in the profession 31 years. He oversees 82 offices, and Harcourts holds 25 per cent market share across the two states. The number 24 is also important for Tony – not only because it signifies the number…
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No matter what business you’re in, you’re always in the business of people
What was your first job and what did it teach you?My first job (part-time) was at Coles as a checkout chick. It taught me the importance of money as we had to balance the till after every shift. How long have you been in real estate?I’ve been selling real estate for seven years. This time for about five years and…
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7 tips for property managers to decrease stress and increase productivity
Having just entered the new financial year, now is a good a time to take stock of the health of your portfolio and consider some of the following areas: Rent reviews and lease renewalsUpdate in line with the current market and ensure tenants are on fixed-term leases. Repairs and maintenanceHow many outstanding work orders are…
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The Agency strengthens position after raising $4.5m capital
The Agency is predicting a strong financial future ahead after raising $4.5 million as part of a share entitlement offer. Announced in July, the offer saw each eligible shareholder entitled to apply for a further four shares based on every seven shares held. They were also provided with one free attaching listed option for every two shares subscribed for and…
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The value of choice
As I continued my crusade in the industry, shouting about the arrival of choice and the departure of disruption, I realised recently that I have started making different choices. Choices I never thought I would make. You see, I love grocery shopping. Yes, I know you may think I am strange, but cooking is my happy place. I’m no culinary…
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Weekly Auction Wrap: Sydney’s busiest week of the year
In a weekend where Victorians were busy watching the AFL Grand Final, Sydney recorded its busiest Saturday of the year for auctions. Sydney recorded a preliminary clearance rate of 78 per cent from 939 auctions, according to the latest CoreLogic data, which was up from 608 this time last year. With attention elsewhere in Melbourne, there were only 103 auctions,…
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From property manager to trusted adviser
Traditionally the role of a property manager has been administrative and task focused, which often results in clients perceiving them as low value. There are several reasons why, and it’s an important part of the conversation. We need to understand what we need to change to become more relationship focussed, with an emphasis on trust and wealth creation. This is…
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