GOOD MORNING FROM ELITE AGENT 👋

On 16 October 1867, prospector James Nash struck gold in a gully off the Mary River, triggering the Gympie gold rush and effectively rescuing Queensland’s struggling economy. The discovery transformed Gympie almost overnight, from quiet bushland into a thriving township, where tents gave way to timber homes, banks, hotels and, soon after, some of the first purpose-built real estate offices in the state.

Property prices soared as miners, merchants, and families flooded north, chasing opportunity and staking claims on newly valuable land. More than 150 years on, Gympie still carries the legacy of that moment and is a reminder that land and location can redefine fortunes.

The rush that began with one man’s persistence laid the groundwork for the modern property market in regional Queensland, proving that growth, prosperity and community often start with a single discovery of potential.

Today’s read time: 7 minutes, 41 seconds

New to The Brief? Join us for free. 🤝

SCALING SMART

The art of controlled growth

The playbook behind Highland’s rise to a $2 billion business

Since founding Highland in 2007, David Highland has turned a small Sutherland Shire office into an eight-office, $2 billion in sales network spanning Sydney, the Southern Highlands, the Northern Rivers and the Gold Coast.

In just four years, he’s overseen five mergers, two marine acquisitions and seven new rent rolls, all without compromising culture or control. His secret lies in treating growth as a disciplined exercise in planning, leadership and long-term thinking, rather than a race for scale.

Growth without control is just expansion

For David, scaling successfully starts with structure. Each new office or partnership is planned months in advance, with resources, systems and people mapped out before day one. That forward planning allows Highland to grow fast without chaos, which is proof that expansion only works when it’s controlled. “We’re always thinking six months ahead,” he says. “What our needs will be, how our systems will handle it, and whether our people are ready.”

Invest early in tech and people

The company’s success isn’t just about mergers; it’s about the systems behind them. The group has built its own digital platform, adopted AI chatbots to handle inquiries 24/7, and introduced bespoke property management software to streamline onboarding.

Yet technology is only half the story. With many team members having spent more than a decade in the business, David’s focus on culture, training and workplace design keeps staff engaged through constant change. “When you invest in your environment,” he says, “you invest in your team.”

Share ownership, share success

Perhaps the most distinctive part of Highland’s model is how it keeps top talent invested … literally. Through a shareholder and joint-venture structure, agents and leaders can take equity in the business rather than breaking away to go it alone.

It’s a model that builds loyalty, spreads accountability and attracts high performers who want the rewards of ownership without the overheads of running an independent office. It’s proof, David says, that scaling sustainably is as much about people as it is about profit.

Read the full story here.

ICYMI, yesterday we broke down why change can be your career accelerator.

TOGETHER WITH VIEW MEDIA GROUP (VMG)

VMG and Propic unveil powerful new AI features set to transform how agents connect and convert

View Media Group (VMG) Executive Chairman Antony Catalano says the company is leading the AI race in real estate, drawing on six years of experience through its AI business, Propic.

Propic has launched its largest update yet for its AI-powered assistant CLAIRE, led by Property Haven (Claim My Property), an AI-powered home hub for homeowners. The release adds new tools to help agencies identify future vendors, automate personalised conversations, and capture first-party data across email, chat, SMS, and voice. It follows the June rollout of conversational voice AI in 58 languages. Founded by Jeffrey Gray in 2019, Propic works with brands such as Highland, Place, and McGrath, assisting in more than $2 billion in property transactions each month. Jeffrey said the upgrades help agencies work smarter, win more clients, and grow efficiently. The features are available now to all Propic clients at no additional cost.

VMG has also restructured its view.resi sales teams with a customer-first model, combining Propic’s AI with marketing tools across view.com.au and Acquire. According to view.resi Managing Director Trent Casson, agencies using the integrated bundle have seen up to a 27 per cent lift in OFI attendance.

Read more about VMG and Propic here.

RENTAL MARKET

National vacancy rates stuck at 1.2%

Australia’s rental market remained under pressure in September, with the national vacancy rate holding steady at 1.2%, according to the latest figures from SQM Research. The number of available rental properties fell to 36,046, down nearly 1,700 from August, highlighting how little new supply is entering the market.

Sydney and Brisbane tightened further, while Hobart recorded the lowest vacancy rate nationwide at just 0.4%. Rents continue to climb, rising 0.8% over the past month and 4.8% year-on-year, with national weekly rents averaging $655 and capital city rents at $756.

Sydney’s house rents now average just over $1,098 a week, underscoring the growing affordability gap in key markets. SQM Research Managing Director Louis Christopher said the figures reflect “a very tight market with little sign of meaningful supply increases,” though conditions in Melbourne and Canberra are showing early signs of stabilising.

VIEW REPORT

Real estate finds its rhythm as economy edges toward stability

Australia’s property market is helping drive a cautious economic recovery, with rising confidence and steady price growth setting the tone for 2026, according to CommBank’s latest View report. The bank’s economists say GDP is on track to lift from 1.8 to 2.2 per cent next year, supported by stronger housing activity and a possible RBA rate cut early in 2026.

Buyers are re-emerging as affordability improves, while sellers are gaining confidence after two years of hesitation. Still, challenges remain: inflation is proving stubborn, job growth is softening and wages are easing, tempering expectations of a rapid rebound. CBA Chief Economist Luke Yeaman describes the current period as “an important juncture” for both the economy and the housing market.

UK AND EUROPE COMMERCIAL

Banks play the waiting game as commercial property values tumble

Banks across the UK and Europe are renegotiating loans with landlords as falling commercial property values make sales increasingly difficult. Many lenders are rolling over loans and revising terms in what’s become known as an “extend and pretend” strategy to avoid forced sell-offs. “I don’t think it can carry on indefinitely,” said David Eden, managing director at Kroll, warning that losses will eventually have to be recognised.

Office values in London have dropped 37 per cent since early 2022, while transaction volumes globally have fallen 45 per cent. Andrew Antoniades from CBRE said lenders are adjusting rates, seeking more equity, and refinancing to manage risk. Although the approach has bought time, rising loan-to-value ratios mean some borrowers are breaching covenants.

CELEBRITY HOMES

Harbourfront glamour: Sydney apartment goes full Versace

A Pyrmont apartment styled entirely in Versace, complete with gold-plated finishes and even a Versace-branded intercom, is making waves well beyond Sydney. The luxury pad is being marketed by Ray White Everest Group’s Fan Li, who says the original owners spent about $4 million on the design when it was built in 2008.

Every inch screams Italian opulence, from the carpets and fireplace to the 24k gold door handles. Li says he’s fielded enquiries from buyers in America and Europe, many drawn to the harbour views and private marina berth. Not everyone is a fan of the bold Versace styling, but as Li notes, “They can always change the design.”

MOVERS + SHAKERS

Ben Singh returns to Harcourts as business owner

The former Harcourts Kellyville agent has launched Harcourts Thrive serving Glenwood, Bella Vista, Norwest and Northwest Sydney. More here.

Award-winning agent Brendon Heenan joins One Agency

The former #1 national agent brings 30+ years of combined experience with wife Kath as "Team Heenan" to serve Otaki and the Kapiti Coast. 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 the client’s “running five minutes late” turns into half an hour, the best way to stay cool might just be literal. 🏊‍♂️💦

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.

Content in the ‘Together With’ section is sponsored. Interested in promoting your brand to Elite Agent’s audience? Learn more at advertise.eliteagent.com.

Was this email forwarded to you? Sign up here.