GOOD MORNING FROM ELITE AGENT 👋

There are hundreds of homes listed for exactly one dollar across the world right now, and no, it's not a typo. For example, in June 2025, a USD$1 listing in Newark went under contract for $550,000. The dollar price tag is a marketing ploy designed to spark bidding wars and attract attention fast. Some US agents apparently use it to generate buzz for properties that wouldn't sell through traditional methods. Talk about underquoting! 🤐

In today’s edition of The Brief

• How Matt Lahood scaled The Agency fast by reverse-engineering growth

• Why first-home buyers might find Darwin more accessible

• Rental conditions have improved for tenants across Australia

Today’s read time: 6 minutes, 36 seconds

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EXPANSION

How The Agency scaled without breaking

Nine years ago, Matt Lahood and six colleagues took a $25 million leap of faith. Today, The Agency is one of Australia's fastest-growing real estate brands. But the real story isn't the numbers – it's the system Matt built to ensure rapid growth didn't collapse under its own weight.

Reverse engineering growth

Most agents think about growth in terms of adding people and offices. Matt thinks backwards. "You reverse engineer from where you want to be," he explains. If you want 100 agents, you need to know exactly who will manage them, where they'll come from, and whether your back-end can handle the load.

But here's what most growing businesses miss...

The "video matches audio" test

Matt uses a simple phrase to test operational readiness: "Your video's got to match your audio." It's his shorthand for ensuring what a business promises matches what it can actually deliver.

"If settlements can't handle 50 listings in one week, or marketing can't manage 100 photo shoots, you have a problem."

The full article reveals how Matt pressure-tests every growth decision against this principle.

Culture transparency that actually works

The Agency brought in Culture Amp to independently assess staff feedback. What they did with that feedback surprised everyone.

"We put the complaints up on screen and told everyone what we've done to fix them."

That level of transparency isn't easy. Here's how Matt made it work...

What you'll learn in the full article:

• The reverse engineering method: How to plan growth backwards from your goal, not forwards from where you are

• The operational readiness test: Specific questions to ask before adding agents or offices

• The transparency playbook: How addressing weaknesses openly creates alignment and trust

• People-first expansion: Why Matt's current agents became his best recruitment tool

Matt's approach offers a blueprint for growing smart – ambition paired with discipline, and people valued alongside profit.

Read the full story here.

ICYMI yesterday: In the AI era, producing content is easy; real value comes from human judgment.

DATA

Sydney deposit now takes seven years

Entry-level prices jumped 68% over five years while wages grew just 21%. The result: Sydney house deposits now take seven years and seven months to save – up 10 months from last year. For first-home buyer conversations, Darwin is the most accessible market at two years, seven months for a unit.

RENTAL MARKET

Rental vacancies hit three-year high as pressure eases

At 1.48%, the national vacancy rate is the highest since February 2022 – a small reprieve for tenants. But REA's Anne Flaherty says don't expect rents to fall: tight supply in Hobart (0.72%), Perth, and Brisbane will push rents to new highs in 2026. Melbourne leads with the most availability at 1.81%.

INTERNATIONAL NEWS

UK: John Lewis Partnership scraps 10,000-home rental plan amid market shift

The John Lewis Partnership has abandoned its plan to build 10,000 rental homes across the UK, conceding that higher interest rates, persistent inflation and a more cautious property investment market have fundamentally altered the economics of its build-to-rent strategy, first launched in 2020, with no homes completed.

HOW IT SOLD

Repeat clients, 21 days, $1.515m

Lisa Borstel sold her clients' home in 2021. When they needed to sell again, they came back. High-impact marketing and targeted outreach delivered a result well above the local median in three weeks.

A listing lasts weeks. This case study lasts forever. getailsa.com

CELEBRITY HOMES

Artist buys 'haunted' Newport mansion

Reported hauntings were a selling point for Hunt Slonem – the artist known for those colourful bunny paintings in the Guggenheim and the Met – who's just bought a 29-bedroom Rhode Island mansion for AUD$22.6 million. According to friends, he's a spiritualist who "receives messages from those who are no longer with us." Yes, there's a ghost story involving the late owner's wife and an organ.

MOVERS + SHAKERS

Ray White books 12,304 appraisals in 12-hour blitz

The network's 20th Real Estate of Origin event saw 3,549 participants from 360 offices make 141,131 calls across Australia and New Zealand. 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

Showing ugly homes in budget builds character. Showing dream homes out of budget builds therapy bills. 🏚️💸

Seen an Agent On Social we should include? Let us know here (email link)

Wishing you a productive day!

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