Sydney prime rents surge, Strategic succession planning, Realestate.com.au’s new affordability filter, +news and more

Good Morning from Elite Agent

Toy giant Mattel, is moving into gaming, teaming up with the British publisher behind the PAW Patrol and My Little Pony video games. It means classic toys, like Barbie, will be gamified in a bid to reverse a company slump over the past two quarters. But diversification isn’t only for global companies, it can work in local real estate too, with Laing+Simmons CEO Leanne Pilkington pointing out that some real estate agencies are integrating other business streams, such as removalist and utility services. She takes a look at how it works, and what to watch out for, here.

Today, we are also covering:

• Sydney prime rents surge

• Strategic succession planning

• Realestate.com.au’s new affordability filter

• Where is our least car-dependant city?

• And much more!

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On our radar

Sydney prime rents surging

Prime rents in Sydney are growing at the fastest rate in the world, soaring 17.3 per cent in the past 12 months. That’s three times faster than the next closest international cities of Auckland and London. According to Knight Frank, immigration is driving the push and there are likely further increases on the way. More here.

AI Powered Agents Self Paced Course

Don't risk falling behind

AI has come into the world with a bang and agents that are not up to speed risk getting left behind. Grant Turner, from Ray White Commercial, says the rewards that come with building up your skills with AI are going to be ‘substantial’ in the years ahead. However, those who act early, are likely to be the ones that reap many of the benefits. If you want to be ahead of the crowd, sign up for Samantha McLean’s AI Powered Agents - Self Paced course here.

Today’s Feature

Strategic succession planning: Essential insights from a real estate leader

According to the latest Macquarie Benchmarking Report, 55 per cent of real estate business owners plan to retire or step back within five years, creating an urgent need for proactive succession planning. In today’s feature, Harcourts NSW/ACT CEO, Katrina Tarrant, reveals how you can develop internal leaders, build a strong organisational culture, and maintain financial transparency to ensure a smooth transition. More here.

Today’s Quiz

"One of these walk-in wardrobes is the 'real' deal, while the other is just AI trying to 'dress' to impress!”

Brekky Browse

Meanwhile in Britain 🇬🇧

House prices hit a record high in Britain

May is usually a strong month for property price growth in Britain and this year is no exception, with house prices hitting a record high of £375,131. According to The Guardian, the value of properties coming to the market increased 0.8 per cent, as buyers have started returning to the market. Over the past 22 years, British house price records have been set in May on 12 occasions.

Anything else?

The best album of all time?

Apple Music has unveiled it’s top 10 albums of all time ,with Lauryn Hill’s debut and only solo studio album, The Miseducation of Lauryn Hill, crowned the best-ever. The album features tracks like Doo-Wop (That Thing), which was Hill's first and only US Billboard number one hit. The album beat out other classics like Thriller from Michael Jackson, Abbey Road by The Beatles, Back to Black from Amy Winehouse and Nevermind from Nirvana. You can check out the full list here.

Dates for your diary

Find Elite Agent Editor Samantha McLean speaking about real estate and AI at these upcoming events:

June 3 Harcourts HX Conference, Gold Coast, Qld
July 12 AI Powered Agents Subscriber Masterclass (Virtual)
July 19 Leah Calnan National PM Day, Melbourne, Vic
July 30-Aug 1 Proptech Summit + Workshop, Sydney
August 11-14 Elite Retreat, Hayman Island, Qld
August 25 PPM Conference, Gold Coast, Qld