GOOD MORNING FROM ELITE AGENT

Here’s something that will make you laugh: NSW Housing Minister Rose Jackson faced a social media roasting after suggesting a two-bedroom Sydney flat could cost "a couple of hundred bucks" in rent during a live interview. With the actual median rent sitting at $720 per week, agents might suggest the Minister’s estimate belongs in the realm of fairy tales.

Today’s read time: 4 minutes, 39 seconds.

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RECOGNITION

Top talent honoured at REA Excellence Awards

The REA Group Excellence Awards 2024 brought together the top property professionals in Melbourne last night to celebrate outstanding achievements across the industry.

With more awards than ever before, Amy Read, REA Group General Manager - Customer Excellence, said property professionals had the opportunity to take home almost 70 data-driven and submission-based awards.

“It’s been another incredible year for the industry, and it was fantastic to get the country’s top agents and agencies together to celebrate their success,” she said.

“These prestigious awards place a spotlight on the incredible achievements of individuals and teams across the industry, helping our customers to broaden their reach and win new business. I’d like to extend a huge congratulations to all our finalists and winners.”

Harris Real Estate: Residential Agency of the Year

Harris Real Estate’s win celebrated its hyperlocal campaigns that enhanced agent recognition in their service areas. The agency also demonstrated a commitment to professional development, creating an in-house training platform featuring over 300 courses and one-on-one training programs.

Hygge Property: Excellence in Sustainability

Hygge Property’s Village in Daylesford project earned the inaugural Excellence in Sustainability award. The project showcased well-designed community living, prioritising both social and environmental sustainability, setting a new benchmark for sustainable property development.

Professionals Real Estate: Contribution to Community

Professionals Real Estate secured the Contribution to Community award, honouring over 20 years of dedication to the National Breast Cancer Foundation. The agency also received $10,000 to donate to a not-for-profit of their choosing, underscoring their commitment to giving back.

Harcourts Solutions: Property Management Team of the Year
REA noted the team's dedication to delivering exceptional property management services and their innovative approach to client care stood out among competitors.

To view the full list of winners, click here.

ICYMI, yesterday we discussed safe spaces, stronger teams

TOGETHER WITH MRI

MRI Software and PropTech Labs expand partnership

MRI Software and PropTech Labs have strengthened their partnership to provide property managers in Australia and New Zealand with advanced tools that streamline workflows and enhance efficiency.

Key upgrades include enhanced integrations for maintenance, inspections, invoicing, key management, and AI-driven automation. “Our expanded partnership with MRI is a pivotal step in delivering comprehensive, intelligent property management solutions for the Australian and New Zealand markets,” said Rafael Niesten, Co-founder at Proptech Labs.

This collaboration extends MRI Property Tree’s capabilities in Australia and MRI Palace’s offerings in New Zealand, benefiting nearly 2,000 shared clients and supporting industry innovation.

Read more about the MRI & PropTech Labs partnership here

SMART SNIPPETS

Knight Frank predicts strong recovery for commercial property
Knight Frank’s Australian Horizon 2025 report outlines seven key predictions for the commercial property market, highlighting a pivotal year of recovery and growth. Chief Economist Ben Burston emphasised that core assets are poised for a cyclical rebound, with investors well-positioned to capitalise on repriced assets. Key insights include high investor demand in retail, and opportunities in the Build-to-Rent sector, particularly for mid-market offerings.

Hidden dangers of overseas outsourcing
Real estate agencies are facing significant risks by outsourcing operations to overseas freelancers. Cybersecurity experts warn that personal devices and lack of oversight could lead to costly data breaches and legal complications. Agencies are being advised to work with Australian-registered providers who manage overseas teams to ensure proper accountability under local law.

Build-to-Rent market gains traction in Australia
Ray White’s latest Between the Lines webinar brought together industry experts to discuss the growing build-to-rent (BTR) market in Australia. Panelists, including Ray White head of research Vanessa Rader, RWC Western Sydney director Victor Sheu, and Coolamon Consulting director Bennett Wulff, explored the potential of BTR as an emerging market opportunity. “BTR is a very mature asset class in some overseas markets, but it's very much still emerging here in Australia,” said Mr Wulff.

Ken Griffin sells Chicago penthouse at a US$15M loss
Billionaire hedge fund manager Ken Griffin has sold the top two floors of Chicago’s No. 9 Walton condo tower for $19 million, taking a staggering 44% hit from his original $34 million purchase price in 2017. It’s a good thing he’s better at hedge funds than real estate deals.

MOVERS & SHAKERS

Barry Plant launches family-focused Safe Hands campaign.
Fresh off their award-winning rebrand the agency has showcased staff families in their spring marketing push. More here.

Leo Widjaja finds success at Area Specialist.
The award-winning agent has become a top performer in Melbourne's southeast by building genuine client connections. More here.

Success doesn’t rest on weekends! 
Get the latest on top agent and agency moves every Sunday with our weekly roundup in Movers & Shakers. Subscribe now.

SOUND WAVES

Why taking a break could be your best business move

Today’s curated listen explores why workers in Australia have banked up more than 160 million days of untaken leave. If you're holding onto weeks of leave, maybe it’s time to pause the property ladder and enjoy some R&R.

Dive straight into the listen below or the deeper dive here.

Read the article from The Conversation here

AGENTS ON SOCIAL

Behind every power-walking, heel-wearing real estate agent is a pair of emergency slippers. No one can show 15 properties in a day without a little backup! 🥿👠

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, Giverny Pringle, 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.

Stories marked with * are sponsored, including 'Together With' and the weekday 'Movers & Shakers' sections. Interested in promoting your brand to Elite Agent’s audience? Learn more at eliteagent.com/advertise.

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