World first VR auction, Where noncompetes are no more, Underwater mansion of the future, +news and more

Good Morning from Elite Agent

What’s 165m long, can stay underwater for up to four weeks and will set you back about $3B? No, we’re not releasing a ‘dad joke’ on you, but the Migaloo M5, a superyacht that’s like a mega underwater mansion for the super rich. An Austrian company of the same name, Migaloo, has released plans for the superyacht, featuring everything from an outdoor cinema, a futuristic bar with neo lighting and space for 20 guests and up to 40 staff. We’ve got all of the eye-popping pics of the superyacht, and checked in with Ray White Marine’s Brock Rodwell to see if there would be a market for the epic boat in Australia, here.

Today, we are also covering:

• Auctions enter the VR era

• Brock Fisher on filling your revenue bucket

• AI sparks a data centre boom

• Noncompetes are no more (in the US, that is)

• And much more!

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Build trust with clients by being authentic, expressing your values, and forming genuine relationships. Trust is the most critical skill, even more so than product knowledge or appearance.

Go Deeper with Wayne Pearce OAM here.

On our radar

Auctions enter the VR era

Melbourne agent and auctioneer, Greg Brydon, is believed to have recorded a world first on the weekend, selling a residential property under the hammer while wearing Virtual Reality goggles. Wearing the VR headset meant the vendors of the Elwood property could see and hear the auction, in real time, through the eyes of their auctioneer. The property sold under the hammer for $1.487M and Greg says there are numerous benefits for vendors, agents and buyers in using the technology. More on that here.

FREE Training this Friday 3rd May

Auctions where everyone wins

Speaking of Auctions, Session 2 in our Master the Market with Mark Kentwell series will kick off at 12.30pm AEST this Friday, May 3. The live session will teach you how to generate more interest in your auctions, drive increased competition and secure a better result for your vendor.

The three-session series is for sales agents generating up to $750K in GCI, and will help you create a plan to triple your business in the next five years. And if you missed the first session, don’t worry, because there are replays. You’ll find those, and how to register for Friday’s session on auctions, here.

Today’s Feature

Brock Fisher: 6 ways to fill your revenue bucket

Your property management businesses could be missing out on hundreds of dollars in missed fees each month. But, according to Kolmeo’s Brock Fisher, a few simple changes could quickly fix that. In today’s feature, Brock reveal where PM businesses commonly trip up and six ways you can plug the holes in your revenue bucket. More here.

Today’s Quiz

Spot the AI snooze: one of these beds is the real deal, and the other is just dreaming of being as comfy!

Brekky Browse

Meanwhile in the US 🇺🇸

Noncompetes are no more

The Federal Trade Commission in the US has banned noncompetes nationwide, in a bid to protect the freedom of workers to change jobs. The FTC estimates the ban, which will come into effect 120 days after publication in the Federal Register, will boost new business by 2.7 per cent per year, resulting in more than 8500 additional new businesses created annually. Of course, noncompetes are widely used in the real estate sector, so it will be interesting to see if more agencies pop up in the US as a result of the ban. It also begs the question whether noncompetes could be banned in Australia? More on the US situation here.

Anything else?

Nicole tops the cinematic summit

‘Our Nic’, aka Aussie actress Nicole Kidman, has been awarded an American Film Institute lifetime achievement award. The Hollywood superstar is the first Australian to be awarded what’s considered to be the highest honour in American cinema. It has previously been awarded to stars such as Julie Andrews, Al Pacino, Meryl Streep, Morgan Freeman and other iconic figures. A five-time Academy Award nominee, Kidman won the Best Actress Oscar in 2003 for her portrayal of Virginia Woolf in The Hours. She has also starred in films such as Dead Calm, Batman Forever, Moulin Rouge, Australia, To Die For and Rabbit Hole.

Dates for your diary

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

May 2 First National Conference, New Plymouth NZ
May 10 AI Powered Agents Subscriber Masterclass (Virtual)
May 17 Raine & Horne PM Conference, Bowral, NSW
May 27 AREC, Gold Coast, Qld
June 3 Harcourts PM Conference, Gold Coast, Qld
July 12 AI Powered Agents Subscriber Masterclass (Virtual)
July 19 Leah Calnan National PM Day, Melbourne, Vic
July 30-Aug 1 Proptech Summit + Workshop, Sydney
August 11-14 Elite Retreat, Hayman Island, Qld
August 25 PPM Conference, Gold Coast, Qld