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Today’s read time: 6 minutes, 01 seconds

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SUCCESSION

Taking over without taking overboard

Modernising a family legacy

Cameron Smart didn’t just inherit a real estate agency, he inherited a legacy. Now Principal and Licensee at Ray White Cannington, Cameron has successfully completed the handover from his parents, Michael and Karen Smart, who launched one of WA’s early Ray White offices back in 1994. His journey offers a blueprint for second-generation leaders trying to honour tradition while modernising the business.

Respect the foundation, then build on it

For Cameron, taking over the family business wasn’t about rebooting, it was about refining. He credits his father with instilling a client-first ethos: “Give the best advice for the client, not what’s in it for us.” That principle helped the office earn deep community trust, something Cameron knew not to mess with.

But respect didn’t mean staying put. When the world shifted from print to digital, Cameron led the charge. “I’d say, ‘I’m doing it this way because it’s easier and saves time,’” he recalls. Rather than force change, he showed the value, then watched buy-in grow.

Lead with humility

Cameron’s leadership style is refreshingly grounded. “You do what you say you’re going to do,” he says. But he’s also quick to admit when things don’t work. That openness not only earns respect, it creates space for team input, critical when replacing a founder figure.

Behind the scenes, he’s driven major tech upgrades, especially in property management, to improve both client and staff experiences. “If they’re stuck in the stone ages with clipboards, that’s not efficient.” He wants faster service, less friction, and better outcomes.

Succession is a strategy, not a surprise

The Smarts didn’t wing the handover, they talked early, planned clearly, and executed gradually. Using an earn-in model, Cameron took on the licensee role while building equity, allowing his father to keep selling on his own terms. The result was a seamless transition with no deadlines.

Cameron’s advice for next-gen leaders:

• Set expectations early, especially around timing and responsibilities.

• Prioritise your team’s experience, because better tools lead to better outcomes.

• Adopt a test-and-learn mindset, some ideas will flop, and that’s okay.

He says you must protect the values that built your brand, but don’t be afraid to update the engine.

“Lead with results, not rhetoric,” he says. In other words, honour the legacy, but earn your leadership.

Read the full article here

ICYMI, yesterday we found out about the real art of negotiation

RENT BIDDING

Rental bidding blocked at the source

Victoria has partnered with the major real estate websites to enforce transparent rental pricing by blocking non-compliant listings from being published. The upgrade to realestate.com.au and Domain.com.au ensures only single, fixed prices appear on rental listings, preventing advertisements with price ranges or vague phrases like "contact agent." Additional reforms coming November 25 will completely ban rental bidding and strengthen renter protections with longer notice periods and elimination of no-cause evictions.

BOTTOMS UP

Wine production trumps prestige for property values

Australia's most prestigious wine regions aren't necessarily delivering the strongest property growth. Research from Ray White Group reveals that production volume and export economics have greater impact on property values than reputation alone. Regions like Penola (Coonawarra) and Queensland's Granite Belt are outperforming, while Tasmania's property market has responded strongly to its wine industry expansion, with Launceston recording 106.1% growth over a decade. The best performers balance solid industry fundamentals with accessibility to major population centres.

US RENT RELIEF

Renters catch a break as affordability improves

US rental affordability has reached its best level in four years, with typical rentals now requiring just 28.4% of median household income. A record 37.3% of rentals now offer concessions like free months or parking, up dramatically from 14.4% in 2019. The improvement comes as builders completed more multifamily units in 2024 than any year in half a century, with markets that built faster seeing the biggest affordability gains.

CELEBRITY HOMES

Old Hollywood star's mansion hits market

A historic 1938 Colonial-style mansion built for actress Virginia Bruce has been listed for US$14.5M after surviving the recent Palisades Fire. The 8,100-square-foot residence sits on 1.5 acres in Pacific Palisades and retains original features including steel casement windows, a pub-like bar with hidden staircase, and a fireplace by the primary bathtub. The property last sold in 2022 for US$17.5M.

MOVERS + SHAKERS

Danielle Cargill heads Property Management at Harcourts RPG

The appointment reunites her with Rachel Atkin, bringing nearly five decades of combined experience to strengthen the network's property management services. 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

When someone yells “Are we on the market yet?” mid-auction, and you’re just trying to keep your heart rate below 180. 🫠🎤

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 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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