GOOD MORNING FROM ELITE AGENT

Harry Houdini, born on this day in 1874, built his legacy escaping from impossible situations, whether it was handcuffs, water tanks, and straightjackets suspended midair. Real estate agents might not be locked in chains, but they pull off just as many daring escapes.

A buyer gets cold feet? You find a way to bring them back.

A deal is tied up in legal red tape? You cut through it like magic.

A seller won’t budge on an unrealistic price? You pull a negotiation trick from up your sleeve.

Houdini’s secret wasn’t just skill - it was preparation, confidence, and knowing there’s always a way out. Sound familiar?

Today’s read time: 4 minutes, 40 seconds

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OPINION

Fixing property management’s talent crisis starts with culture

One in five real estate agencies can't fill property management roles, but the real problem isn't recruitment, it's culture.

Ailo founder Ben White argues that agencies failing to invest in their people are driving talent away. The industry has long prioritised sales while treating property management as an afterthought, leaving professionals overworked, undervalued, and isolated.

While better technology can help, the true solution lies in shifting how agencies support their property managers by offering clear career paths, fostering collaboration, and recognising their contributions. Agencies that fail to do so will struggle, while those that create an environment where talent thrives will gain a competitive edge.

The cultural problem holding property management back
For too long, property managers have been expected to simply "work harder" to meet increasing demands. This outdated mentality has led to burnout, with professionals stuck in administrative drudgery rather than building meaningful relationships. Many work in small teams with little mentorship and rarely receive appreciation, even from their own leaders. Until the industry values property managers as essential to business success, agencies will continue to struggle with retention.

Why technology alone won’t fix the issue
While better systems can ease workloads, they won’t fix the deeper issue—how property management is perceived. Too often, it's seen as a stepping stone to sales rather than a career in its own right. But property managers are the frontline of relationship-building in real estate. When supported properly, they don’t just manage properties—they nurture connections that drive agency growth, including future sales opportunities.

Building a culture that attracts and retains talent
To turn things around, agencies must take action. Investing in professional growth, creating mentorship opportunities, and actively recognising contributions will make property management a more attractive and rewarding career path. Agencies that embrace this shift won’t just retain staff—they'll build stronger businesses driven by engaged, motivated professionals who see a future in the industry.

Read the full story here.

ICYMI, last week we discussed how to adapt and succeed in a thriving market.

SMART SNIPPETS

Nine may sell Domain stake to US real estate giant
Nine Entertainment is reportedly in talks to sell its controlling 60% stake in property platform Domain to US real estate conglomerate CoStar. The potential deal values Nine's shareholding at approximately $1.76 billion, with a price of $4.65 per share representing a 49% premium over Domain's pre-offer trading price.

CoStar has already acquired a 16.9% stake in Domain, and several of Nine's major shareholders have expressed support for the potential sale. However, as yet, Domain has not received a new offer.

Victoria tops population growth as housing shortfall looms
Australia’s population grew by 484,000 people (1.8%) in the year to September 2024, with Victoria leading the way, adding 147,000 new residents, according to the ABS. Despite slowing migration, housing supply isn’t keeping pace, with the Urban Development Institute of Australia estimates showing a shortfall of 400,000 homes by mid-2029. Oliver Hume Chief Economist Matt Bell warns this will be a “tragedy” for low and middle-income households already struggling with affordability

US housing shortage could push rents back up
The US housing crunch might be getting worse. Only 294,000 multifamily units received construction permits in 2024 across the largest metro areas, down from the pandemic peak of 318,000. Nine major cities are particularly vulnerable, with New York looking at a 6.8% rent increase while permits dropped 9.5%. Despite recent rent decreases, experts warn this construction slowdown could become "a catalyst for future rent growth."

CELEBRITY HOMES

Own a piece of 'Neighbours' TV history
A stunning 2-hectare estate that served as a filming location for the iconic TV show "Neighbours" has hit the market in Sassafras, Melbourne. The Chudleigh Park property features a five-bedroom main residence, three self-contained cottages, its own waterfall, and a billabong surrounded by native gardens.

Currently operating as short-term accommodation, the tranquil retreat has become a haven for wildlife and is attracting interest from tree-changers and wellness entrepreneurs.

AGENTS ON SOCIAL

Stop everything! We’ve got a referral! You, my friend, are officially on my list of favourite people. This is better than a surprise upgrade to business class. Better than finding an extra fry at the bottom of the bag. Better than... well, you get the idea. THANK YOU. Us? Over the top? Never. 🥳 🙌🏻

Seen an Agent On Social we should include? Let us know here (email link)

Wishing you a productive day

Elite Agent is crewed by Mark Edwards, Catherine Nikas-Boulos, Rowan Crosby, Charmagne Arrubio and Samantha McLean. We aim to uplift the real estate industry by delivering forward-thinking, hype-free news and education that fosters knowledge and fuels ambition.

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