GOOD MORNING FROM ELITE AGENT 👋

The open home as we know it started in 1910, though back then it was called "open for inspection" and operated on a very different schedule. Properties were available for viewing daily from 9am to 9pm, and this marathon continued for weeks on end until someone finally bought the place.

Agents would camp out in a single property at a time, no multi-listing coordination, no quick Saturday afternoon slots. Just one agent, one house, and an endurance test that would make modern real estate professionals wince.

In today’s edition of The Brief

• Why capable residential agents hesitate to move into commercial real estate

• The 30 markets moving too fast to price right now

• A Brooklyn penthouse just smashed a record thanks to Hollywood star power

Today’s read time: 6 minutes, 32 seconds

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FEATURE

What stops capable agents going commercial

Commercial real estate has always carried a certain mystique – more technical, more complex, harder to break into. But according to Tom Donnelly, Head of Commercial at NAI Harcourts Australia, the real barrier isn't what most agents think.

The mindset that matters

Tom arrived in Australia from Scotland two decades ago with a finance background and no formal pathway into property. Within two years, he'd stepped into commercial and never looked back.

"The truth is, commercial real estate is different," Tom says. "But it isn't out of reach."

After watching countless agents attempt the transition, he's identified the patterns that separate those who succeed from those who don't. Here's what most residential agents miss about building a sustainable commercial career.

Why early income isn't the priority

Commercial deals take longer. The language is different. Clients think differently. Tom believes the agents who thrive are those who accept that early stages are about something other than immediate returns.

"Confidence comes from understanding how deals actually work," he says.

The full article reveals exactly where to invest your time before chasing income – and why this approach pays dividends later.

The turning point most agents overlook

For many successful commercial agents, one factor accelerates everything else. Tom's own pathway was shaped by it, and he's seen it shorten the learning curve dramatically for emerging agents.

"Very few strong commercial careers are built alone," he says.

What you'll learn in the full article:

• The long-term mindset: Why early progress feels slow and how to position yourself during the learning phase

• Education over income: The technical foundations – lease structures, yields, tenant covenants – that build competence and trust

• Finding the right mentor: How working alongside senior professionals provides exposure theory can't match

• Specialisation strategy: Why commercial rewards focus and how to choose your niche

You don't need all the answers at the start. But you do need to know where to begin.

Read the full story here.

ICYMI, yesterday, we heard about the three mindsets dividing real estate on AML

HOT MARKETS

The 30 markets moving too fast to price

Palmerston in the NT is recording 23.4% annual growth with under one month of stock – conditions that make accurate price guides "genuinely difficult", according to new FOUNDIT research. The study identified 30 of the nation's hottest markets, with some seeing prices shift more than $50,000 a month. Worth checking if your area made the list.

AI TECH

Homes.com adds AI that actually talks back

Elite Agent’s Managing Editor, Samantha McLean tells us that while most property portals now offer natural language text search – Homes.com has gone further with two-way voice that remembers context and walks buyers through 3D tours mid-conversation. Worth watching: CoStar (which bought Domain for $3 billion last August) built it, and has flagged AI enhancements for "all marketplace platforms."

HOW IT SOLD

Buyer's agent eliminates auction stress for $2.05m

Nathan Madden's client had lost at multiple auctions. Instead of going through it again, he negotiated a pre-auction deal – securing the Menai home days before the scheduled auction.

Stories like this build your online reputation long after the sold sticker comes down. Want yours told? getailsa.com

CELEBRITY HOMES

Denzel Washington's film penthouse breaks Brooklyn record

Being Denzel Washington's on-screen apartment has its perks. This DUMBO penthouse from Spike Lee's Highest 2 Lowest just sold for $25.6M – a Brooklyn record for price-per-square-foot. New neighbours include Joe Jonas and Ben Simmons, and the building boasts NYC's highest private tennis court.

MOVERS + SHAKERS

Mark Mendel launches Moove to democratise buyer's agents

The platform uses technology to make expert property advice affordable for everyday Australians, not just wealthy clients, across Brisbane, Sydney, Newcastle and Adelaide. More here.

Rick Silberman joins RWC Retail as partner and head of VIC

The accomplished retail investment agent brings 12 years of experience and record-breaking yields to lead the group's Victorian expansion. More here.

Chris O'Brien leads new Acton | Belle Property Perth City office

He's partnering with Mount Lawley principals Scott Fletcher and Chris Pham to expand into the inner-city market. 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.

AGENTS ON SOCIAL

Real estate euphoria summed up …. 💰🤝

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

Wishing you a productive day!

Elite Agent is the definitive platform for ambitious agents and industry players. Thought Leaders is the weekly show where top operators reveal how they’re reinventing real estate. AI-Powered Agents is your playbook for deploying AI that sells homes and scales teams.

Elite Agent is crewed by Mark Edwards, Catherine Nikas-Boulos, Rowan Crosby, Charmagne Arrubio, Iris Rebello 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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