GOOD MORNING FROM ELITE AGENT

The Reserve Bank of New Zealand has dropped rates by another 0.5%, and it’s the boost the property market needed heading into 2025. Ray White’s Nerida Conisbee says the cut is a “big deal” for borrowing costs, while CEO Daniel Coulson noted a 30% jump in October sales. With cheaper lending and more listings expected in the new year, the market is buzzing.

Today’s read time: 3 minutes, 57 seconds.

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AI

Beyond ChatGPT: mastering the AI toolkit for real estate success

ChatGPT is a great starting point, but real estate agents who stick to just one AI tool are missing out.

AI Powered Agents’ Samantha McLean says the winners in tomorrow's real estate market won't be those who first adopted AI, “they'll be the ones who learned how to orchestrate multiple AI tools to create exceptional client experiences”.

So, how can agents can take their work to the next level? Basically, learn to use the right tool for the right job and stay curious about what’s out there. AI is evolving fast, and those who experiment will stay ahead.

It’s not one-size-fits-all

ChatGPT is handy, but it’s not always the best tool for the job. “Claude is my go-to because it captures those subtle details and sophisticated language patterns that ChatGPT sometimes misses,” says Samantha.

For data-heavy tasks, Perplexity is a winner: it shows exactly where it pulls information from, making it perfect for market reports or research.

Supercharge your marketing

Why settle for good when your marketing can look amazing? “We might start with ChatGPT for the initial creative work, then elevate it in Gamma to create stunning, presentation-ready documents. 

Plus, if you want to create social content that really pops, combine ChatGPT’s clever ideas with Ideogram’s visuals to make your posts stand out.”

Invest in your AI toolkit

Yes, AI tools come with a price tag, but they’re worth every cent. “A $25 monthly subscription for an AI assistant that doesn’t need coffee breaks or annual leave? That’s probably the best ROI in your business,” says Samantha. These tools save time and let you focus on the stuff that really matters - like closing deals.

ICYMI, yesterday, Dion Besser wrote about how transparency is transforming how real estate agents build trust

SMART SNIPPETS

Victoria’s rental reforms: a win for renters, concerns for investors
The Victorian Government’s new rental reforms are making waves, with measures like banning no-fault evictions, tougher rent review criteria, and mandatory property standards before advertising. Premier Jacinta Allan said the changes aim to give renters “more rights and more respect.”

The REIV has flagged concerns, warning the reforms could deter investors and reduce rental stock.

RBA rate cuts pushed to 2025? 
The RBA is likely to hold rates steady in December, with inflation showing mixed results. While overall CPI stayed at 2.1% in October, core inflation rose to 3.5%. REIA President Leanne Pilkington said underlying price pressures remain an issue, but slowing GDP and a softening job market could push the RBA to act next year. Experts now expect the first rate cut around May 2025.

Renovation nation: Aussies choose upgrades over new builds
Homeowners are increasingly doing upgrades to their homes rather than building new, with renovation spending now making up 40% of all residential construction activity. The trend has surged 6.5% over five years, while new residential construction has dropped 14%. Inner-city and coastal areas are leading the renovation charge, though experts warn this shift could worsen housing supply issues.

MOVERS + SHAKERS

Rising star Callum Donders makes his mark. 
From marketing graduate to Pakenham's top performer the Area Specialist agent achieved Pinnacle Tier status and bought his first home at 25. More here.

Coast Edge Real Estate goes from strength to strength
Greg Pratt's Sunshine Coast agency has been growing rapidly, expanding its reach and achieving impressive results with the help of OASIS powered by @realty. 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.

SOUND WAVES

The power of positive leadership

Positive leadership, grounded in kindness and well-being, is transforming workplaces by boosting employee performance, motivation, and retention. This curated listen reports on how leaders who prioritise mental health, invest in development and model positive behaviours create empowered teams.

Dive straight into the listen below or the deeper dive here.

Read the article from University of Sussex here

AGENTS ON SOCIAL

Should agents be encouraged to break down costs in interpretative dance? Each twirl represents stamp duty, every leap is a nod to maintenance fees, and that exaggerated floor roll? The ever-elusive interest rates. 🕺🏻💲

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

Wishing you a productive day

Elite Agent is crewed by Mark Edwards, Catherine Nikas-Boulos, Rowan Crosby, Giverny Pringle, 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.

Stories marked with * are sponsored, including 'Together With' and the weekday 'Movers & Shakers' sections. Interested in promoting your brand to Elite Agent’s audience? Learn more at eliteagent.com/advertise.

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