GOOD MORNING FROM ELITE AGENT

On this day in 1973, Martin Cooper made the first-ever mobile phone call — from a brick-sized device that probably weighed more than a buyer’s remorse. His first call? To a rival at Bell Labs, just to rub it in.

Fifty-one years later, mobile phones are practically glued to the palms of real estate agents. You can list a property, take enquiries, negotiate a deal, and upload an Insta reel — all before finishing your morning coffee. So spare a thought for the OG mobile moment today. Without it, we’d still be chained to the office phone, hoping the fax machine didn’t jam mid-contract.

Today’s read time: 5 minutes, 19 seconds

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FEATURE INTERVIEW

Why the ultra-premium market requires a different mindset

Australia’s prestige property market is stretching out, with longer sale cycles and increased demand for trophy homes from expats and Asian buyers.

Marshall White Sales Director John Bongiorno says these properties are increasingly being held long-term, and selling them takes time, strategy and strong relationships. At this end of the market, buyers act based on want rather than affordability, and agents need to understand that timing and trust are just as important as marketing.

Patience over pressure
High-end properties don’t follow the typical four-week campaign model. “When you sell a traditional house in Melbourne, it might be a four-week auction campaign or a private sale,” John says. “But at the high end, it’s a longer process. You do a fair bit of marketing, but not necessarily condensed into a short window.” He adds: “Sometimes we've placed properties in 24 or 48 hours, but it can also take 12 months.”

It’s about want, not need
Ultra-premium buyers aren’t waiting on market shifts or mortgage rates. “It’s complete wantability,” John says. “For buyers at this end, it’s just a question of when they're ready. When they fall in love with the property, they'll act.” He also notes, “It's not as if these buyers are waiting for interest rate falls… They're not driven by affordability.”

Relationships rule
Prestige sales rely heavily on existing connections. “There’s not a lot of difference between who you socialise with and who you do business with,” he says. “They cross over. It might be someone you’ve known through the football club or business community for years.” In his view, “It takes a certain agent to deal with these vendors and buyers. There’s a big trust factor, and that comes through long-standing relationships.”

Read the full story here.

ICYMI, yesterday: how to turn a lost listing into lasting growth.

TOGETHER WITH REALESTATE.COM.AU

New products, better support: What’s changing at REA Group
REA Group is lining up a few solid upgrades for agents in 2025, all shaped by direct customer feedback. Having kicked off on 1 April, there’s a new $99 product called Audience Maximiser Essentials, giving agents a more flexible, lower-cost way to promote listings. They’re also making it easier to downgrade listings when needed and keeping Pay on Sale in play, which is good news for cash flow. Their support model, Hive, is now fully up and running, and agents seem to be feeling the difference. And if you’re one for big events, Ready25 returns this August with some major speakers and a $500,000 donation going towards homelessness initiatives. Read more from our catch-up with Kul Singh here.

DEPT OF MORTGAGES

Push to Rethink Lending Rules and Fast-Track Investment
Oliver Hume CEO Julian Coppini says the 3% serviceability buffer is outdated and blocking first home buyers. He’s calling for a rethink to match today’s interest rates. Meanwhile, Property Council CEO Mike Zorbas backs a new ‘Investment Australia’ office to cut delays for overseas capital. Both moves are aimed to get more people buying and more homes built.

DEPT OF AI

From Loom to SOP: save hours with this simple AI workflow
Still typing out SOPs from scratch? There’s a faster way. Just hit record on Loom, let AI do the heavy lifting, and you’ve got a clear, shareable process in minutes. It’s ideal for real estate teams juggling onboarding, campaigns, or client updates—basically, anywhere a repeatable task lives. This prompt pulls out timestamps, steps, and real-world examples so your team uses what you create.

CELEBRITY HOMES

Rosie O'Donnell sells NYC penthouse at a loss after relocating to Ireland
Rosie O'Donnell has wrapped up the sale of her Manhattan penthouse, taking a US$1.1M hit in the process. The 3,381-square-foot home, originally purchased for US$8M back in 2017, finally sold for US$6.9M after sitting on the market for nearly two years. The comedian and former talk show host recently shared that she moved to Ireland following Trump’s election.

MOVERS + SHAKERS

Jake and Julian Rowe return to Ray White.
The duo now leads the group's new Northern Beaches office in Manly after rejoining late last year. They were drawn back by the brand’s culture and support. More here.

Victor Paz and Kristy Clymo join Harcourts network.
The Perth-based duo has launched Harcourts Property Specialists after 22 years in the industry. 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

Forget drone shots; a dance-off is way better. Why walk a buyer through a four-bedder when you can moonwalk them from the kitchen to the alfresco? Bonus points if you can hit a TikTok trend while showing off the butler’s pantry. 💃🏻🕺🏻

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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