The 5 traps of high-stakes negotiation, View Media Group buys The Property Agency, World’s tallest penthouse taken off the market, +news and more

Good Morning from Elite Agent

Office vacancy rates have fallen in half of Australia’s capital city CBDs, with demand for space, particularly high quality offices, on the rise. According to the Property Council of Australia (PCA) Office Market Report July 2024, the overall office vacancy rate across the country fell from 14.8 per cent to 14.6 per cent over the six months to July this year. Check in on how your capital city CBD fared here.

Today we are covering:

• One-minute data: Home price growth continues

• How seller’s and buyer’s agents can collaborate for success

• View Media Group acquires The Property Agency

• The 5 traps of high-stakes negotiation

• And much more!

Let's get to work 🚀

Instant Inspo 💡

TRIED AND TESTED

Before rolling out new technology or initiatives to agents, test them thoroughly within the company to ensure their effectiveness and usability. This approach minimises disruptions and ensures smoother transitions.

Go Deeper with Kylie Walsh here.

On our radar

One-minute data: Home price growth continues

National home prices have increased 0.08 per cent in July and are now 6.3 per cent higher than a year ago, according to PropTrack’s latest Home Price Index. But not all capital cities have experienced growth. While Perth prices have risen 0.88 per cent, Melbourne’s are down 0.21 per cent. We’ve got your one-minute data wrap here.

Today’s Feature

Seller’s agents and buyer’s agents: Collaborating for mutual success

The collaboration between seller's and buyer's agents has the power to transform real estate transactions. But can teamwork lead to faster sales and higher client satisfaction, or do market dynamics still hold the upper hand? Buyer’s agent Valeria Davis explores how joining forces could pave the way for smoother, more profitable deals for everyone involved.

Can you hammer out the truth? Guess which workshop tool haven is the real deal and which is an AI-nail biter!

Brekky Browse

Meanwhile, in France 🇫🇷

Would you say ‘bonjour’ to property in Paris?
As Aussies face a housing crisis, with median property prices hitting $1 million, many are curious about property values in Paris, especially with the Olympic Games dominating the news cycle right now. Money expert, Effie Zahos, says that while Australian property prices have surged 34 per cent since the pandemic, Paris has seen a decline in property prices over the past year. Comparatively, a three-bedroom house in Greenacre, Sydney, costs around AUD$1 million, whereas a four-bedroom house in Saint-Denis, Paris, is priced at AUD$1.02 million, with central city units in Paris being more expensive than those in Sydney.

Anything else?

An ‘Apple’ a day pays off

On this day in 2018, Apple Inc. became the first publicly traded U.S. company to reach a market valuation of $1 trillion, marking a historic milestone in the technology sector. The achievement came after a surge in Apple's stock price, driven by strong earnings reports and robust sales of the iPhone X. This landmark event highlighted Apple's dominance in the global market, surpassing competitors like Amazon and Microsoft in the race to the trillion-dollar mark.

Dates for your diary

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

August 11-14 Elite Retreat, Hayman Island, Qld
August 25 PPM Conference, Gold Coast, Qld