McGrath’s balance sheet, Brotherly love triumphs in Townsville, Are short-term rentals a problem?, +news and more

“They said it”

Good Morning from Elite Agent

If you’ve been meaning to sign up for AI-Powered Agents Live, then run, don’t walk, over to aiagentcourse.com right now because class kicks off at 12.30pm (Sydney time) today! Based on Sam’s hugely popular in-person workshops, but with all the latest AI knowledge added, the six-week course will see you learn how to use AI to boost your brain power and as a hands-on assistant so you can amplify your productivity, gain back hours in the day and win and serve more clients with greater ease. Register here.

Today, we’re covering:

• McGrath’s balance sheet

• Brotherly love triumphs in Townsville

• Are short-term rentals a problem?

• Buyers tighten their belts

• And much more!

Let's get to work 🚀

On our radar

More agents, offices and profits

McGrath has reported its half-year results for the 2023-2024 financial year, posting a statutory net profit after tax of $7.5 million, which is a $5.7 million increase on the same time a year ago. The balance sheet also showed a 42 per cent increase in EBITDA to $4.8 million. McGrath CEO John McGrath said he was delighted with the results and he also outlined a plan to add more offices and agents to the network. More here.

Together with Elite Retreat and Kolmeo

What's the difference between an average year and a really great year, or even a pivotal year in your business? Usually, it's not a dozen or more things - often, it is just one or two genius moves. And that is our theme for Elite Retreat this year, which will be held at the stunning Intercontinental Hayman Island resort.

Our speakers and invited guests will reveal their genius moves, from leadership to marketing, financial moves and also the moves they wish they had made but missed! Early Bird is only up until we announce our speaker lineup on 1 March - make your genius move by putting 11-14 August in your diary and securing your registration here.

Today’s Feature

How the Spinella brothers triumphed in Townsville

When Giovanni and Santo Spinella opened their agency in Townsville, they had nothing. No listings and no managements. Just two brothers in an office who were prepared to work hard. In today’s feature, Giovanni and Santo reveal the strategies they used to forge their success, why they joined Ray White a year ago and what the future holds. More here.

Brekky Browse

People are talking about these. Read up; join in!

Have your say on short-term rentals
NSW Government looks for solutions to housing crisis

Have buyers tightened their belts?
Australia’s total property purchase value dips

Perth’s property power
Why the city has incredibly low days on market

Love at first sight or buyer’s remorse?
What to do when a buyer is thinking with their heart not their head

A sanctuary fit for a Victoria’s Secret model
Miranda Kerr has but her Malibu mansion on the market

Put The Brief in your ears
with thanks to Rex Software

Anything else?

Furry friends, home trends

At Elite Agent we’d be lost without our furry, feline and canine assistants. Dave, Stevie and Lexie are regularly on hand to assist Sam and Mark, while Susie and Jeremy keep Kylie on her toes. Today, we will be giving them an extra treat or two to celebrate Love Your Pet Day. And pets have long been a hotly debated topic when it comes to rental properties too. In this widely read feature, EBM RentCover’s Sharon Fox-Slater shares some of the benefits of allowing hairy housemates in rental properties and how insurance can help relieve landlord’s’ concerns. More here.