GOOD MORNING FROM ELITE AGENT

Today is Mabo Day, a landmark moment in Australia's history that holds special relevance for those of us in real estate. On 3 June 1992, the High Court recognised the native title rights of Indigenous Australians, rejecting the long-held notion of terra nullius, that the land belonged to no one before colonisation.

For those of us working with property every day, it's an important reminder: every listing, every title, every parcel of land has a deeper story, one that began long before the first boundary lines were drawn.

Today’s read time: 5 minutes, 41 seconds

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OPINION

The real estate follow-up fail (and how to fix it)

Buy a fancy car and you’ll get the full red carpet experience, including silk cover, champagne, follow-up calls, and service invites.

However, in real estate, the relationship often ends at settlement.

As Ray White Shore Group principal Andrew McCulloch puts it, “We work hard to get the listing, sell the property… and then we’re off chasing the next one.” No surprise, then, that 70% of sellers never return to their original agent.

The $3 million mistake

When Andrew took over Shore Group, they ran the numbers and found $2–3 million in potential revenue walking out the door due to poor post-sale engagement.

The fix the problem, Andrew created a dedicated after-sales care role. This person stays in touch post-settlement and calls, manages gifts, does market updates, and anniversary letters. The early results saw more referrals and warm leads. “It’s not just about money, it’s about doing the right thing.”

Why real estate needs to think like other industries

Hotels, online retailers, and even cafés have systems to keep customers engaged. Real estate doesn’t.

But by shifting from transactions to relationships, agents can turn past clients into future business. The key is to build systems, not just rely on charm.

Community care that’s more than lip service

The same after-care role also handles local outreach, including sponsoring schools, surf clubs, and charities. But it’s also about showing up. Inspired by a successful Auckland network, Andrew chose to get more involved. “Plenty of taking, not much giving back,” the principal admits. That’s changed.

Play the long game

This strategy won’t pay off overnight, but the signs are strong. “You looked after my mate” is now a regular lead source. And that’s the kind of reputation money can’t buy.

Care more, follow up, and build something that lasts.

Read the full story here.

ICYMI, yesterday we found out why investing in office space still matters in a remote-first world.

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DEPT OF PRICES

Home prices hit a new record as Perth overtakes Melbourne

Australian property markets are reaching new heights, with national home prices rising 0.39% in May, marking the fifth consecutive month of growth. For the first time in a decade, Perth's median home value has overtaken Melbourne's, following years of strong performance in Western Australia. Lower interest rates have boosted borrowing capacities, with experts predicting continued price growth throughout 2025 despite affordability concerns.

DEPT OF DEVELOPMENTS

Cost of development sites surge higher

Australia's development site prices have surged more than 75% since 2020, jumping from $4.8 million to $8.5 million despite aggressive interest rate increases. Unlike previous downturns, today's property owners have substantial equity buffers and diverse funding sources, allowing them to avoid distressed sales. This creates a circular problem where developers can't make projects work financially, reducing housing supply and keeping prices high.

DEPT OF LISTINGS

US buyers finally gain the upper hand

The US housing market has flipped, with sellers now outnumbering buyers by nearly 500,000 - the largest imbalance on record. Data shows 1.9 million sellers competing for just 1.5 million buyers, creating a 33.7% surplus. This shift is expected to drive prices down by 1% by year-end, with buyers gaining significant negotiating power. In Miami, the strongest buyer's market, sellers outnumber buyers by nearly 3 to 1, while only seven major metros remain seller's markets.

CELEBRITY HOMES

Captain America heads east

"Captain America" star Chris Evans has listed his longtime Los Angeles residence for US$6.99M as he plans to return to his Massachusetts roots. The actor, who purchased the Hollywood Hills property in 2013 for US$3.52M, is set to make a substantial profit after a decade of ownership. The four-bedroom home features sweeping mountain views, a gourmet kitchen with commercial-grade appliances, and an "entertainer's paradise" backyard with a swimming pool.

MOVERS + SHAKERS

Kathy Purcell elevates Barry Plant in luxury market

The Eastern Group agent is reshaping the brand's presence in high-end real estate with her bespoke approach and limited portfolio of just seven properties at a time. More here.

Jellis Craig hosts inaugural wellness event

Michelle Bridges headlined the company-wide gathering aimed at helping team members build emotional resilience and overall wellbeing. 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

Have you ever done an inspection where flicking the hallway light turned on the bathroom fan, made the oven beep, and something buzzed behind the wall. Classic case of “renovated with love”... and zero qualifications.⚡️🙈

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

Wishing you a productive day!

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