⚡ Three-year restructure window opens 1 July 2027. Here's why that's the date to work back from.

GOOD MORNING FROM ELITE AGENT 👋

TRUE OR FALSE?

Before telling vendors to rip out original brass fittings and modernise an older home, agents should know this: Brass doorknobs naturally kill bacteria and viruses thanks to something called the ‘oligodynamic effect.’
(Scroll to the bottom for the answer!)

In today’s edition of The Brief

• Why the 2026 budget marks a structural turning point for real estate business owners

• Market jitters after Budget but opportunity remains, says Matt Lahood

• REIV warns reserve price disclosure laws could backfire on Victorian vendors

Today’s read time: 5 minutes, 40 seconds

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BUDGET 2026: BUSINESS STRUCTURE REFORM

New tax rules reshape agency structure and ownership models

While negative gearing dominated the headlines, a second set of reforms in the 2026–27 Budget is reshaping something far more fundamental for agency owners – how businesses are structured and taxed internally. For the estimated 350,000 small businesses operating through discretionary trusts, the way income is distributed has now been materially altered.

From 1 July 2028, a 30 per cent minimum tax will apply to every distribution from a discretionary trust, regardless of who receives it. That effectively removes one of the key advantages of trust structures in real estate, which is the ability to distribute income to family members in lower tax brackets. As chartered accountant Steven P. Rider of TenWealth Accountants puts it, “The golden age of the family trust in real estate is over,” adding that if someone were starting an agency today, he would not be recommending a discretionary trust as the default structure.

The government has introduced a three-year rollover relief window, opening 1 July 2027, allowing businesses to restructure without triggering CGT. But by 2028, the new trust rules are fully in force. Steven points to dual-tier structures, separating sales and property management into distinct entities, as part of the emerging planning approach, reflecting the growing need to isolate different revenue streams rather than blending them inside a single trust.

Plus exit planning just got more complicated. There's a valuation crunch coming that could catch principals off guard, and it compresses the real timeline for anyone thinking about selling in the next few years. What you'll learn in the full article:

• The dual-tier structure explained: How separating sales and PM businesses protects value and simplifies tax planning

• Three scenarios modelled: Specific implications for rent roll growth, going independent, and equity arrangements

• The valuation timing trap: Why 1 July 2027 creates a capacity crunch that affects transaction timing

• Key dates mapped: Every deadline from IAWO permanence to trust rule implementation

Read the full story here.

ICYMI, yesterday, we discussed how VIC rental reforms have put pressure on PMs.

TOGETHER WITH THE BDM SUMMIT

Growth isn’t a lead problem - it’s an execution problem

Rent roll growth rarely fails because of a lack of leads, but because opportunities break down after the enquiry comes in through unclear positioning, inconsistent follow-up, underdeveloped sales execution, weak objection handling, and databases that aren’t being fully leveraged. More marketing activity won’t fix a broken process; it simply creates more opportunities that still slip through the cracks. Real, sustainable growth comes from strengthening every stage of the system so that enquiries are not just generated but consistently converted into appointments and new management.

The BDM Summit 2026, hosted by Sarah Cincotta and Hermione Gardiner on 24 July 2026, focuses on this full end-to-end growth process from lead generation through to conversion, follow-up, and mindset. It is designed to help BDMs, business owners, and property professionals lift performance across every stage of execution, not just one area in isolation, so they can convert more of the opportunities they already have.

Read more about The BDM Summit here.

MARKET

Auction pullbacks rise as rate pressure bites

Just 1,994 auctions are scheduled across the capitals this week, with The Agency’s Matt Lahood reporting an increasing number of vendors are withdrawing campaigns before auction day. He says interest rates, along with Budget-related pressure, are tightening conditions, with banks stress-testing borrowers at around 9%, squeezing both buyers and sellers. His view is that the market is in adjustment, not collapse.

POLICY

Reserve price disclosure could backfire on Victorian vendors

Ninety-four per cent of Victorian property owners say they'd change their selling strategy if forced to reveal their reserve a week before auction. An REIV survey found the proposed law could trigger inflated reserves, lower clearance rates, and more pre-auction offers. The Institute has released an alternative blueprint that includes confirming reserves fall within a 10% advertised range three business days out.

HOW IT SOLD

The 7.30pm inspection that sealed $1.435m

With 21 groups through the first open, Katie Williams had strong interest but needed to convert it into action. When a second buyer emerged who couldn't inspect during business hours, she arranged an evening viewing – creating direct competition that secured the sale in 21 days.

Your competitors know media coverage gets clients. Are you ready to get yours? getailsa.com

CELEBRITY HOMES

Ken Griffey Jr. hits a home run with his Florida mansion sale

The baseball Hall of Famer's custom-built Windermere estate is on the market for US $27M and spans 22,000 square feet on 11.5 lakefront acres. It comes complete with theatre, golf simulator, and a 10-car garage with two lifts. There's also a basketball court, because of course there is. You have to see that pool – waterslide, diving board, and waterfall included.

MOVERS + SHAKERS

Matt Lancashire launches Ray White Collective Luxury

The Brisbane agent with $1.5 billion in career sales has opened the city's first agency exclusively for properties above $4 million. More here.

First National Cleveland nears 1,000 properties with Wynnum Manly acquisition

Ryan McCann's fourth rent roll purchase in eleven years brings a thirty-year mentorship full circle, with seller Ken Isaacs having first introduced him to real estate as a teenager. More here.

Tina Chamberlain returns to Ray White Hawke's Bay as auction manager

New Zealand's first female national auctioneering champion is back at the agency where she started in 2010 with plans to shift the region's auction culture. More here.

Success doesn’t rest on weekends! 
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AGENTS ON SOCIAL

Agents will negotiate anywhere - kitchens, driveways, even mid–sausage sizzle. If there’s a surface, there’s a counteroffer. 🤝🌭

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

TRUE OR FALSE:

Before telling vendors to rip out original brass fittings and modernise an older home, agents should know this: brass doorknobs naturally kill bacteria and viruses thanks to something called the ‘oligodynamic effect.’

And the answer is …

TRUE. Brass and other copper alloys have what’s known as an “oligodynamic effect,” meaning they can naturally reduce or kill many microbes on their surface over time. That’s one reason brass fixtures were historically common in older homes, hospitals, and public buildings.

Wishing you a productive day!

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