GENERAL NEWS
TO keep up with the current challenging market, real estate businesses need better governance, systems and a renewed focus on talent retention to...
According to Macquarie Business Banking’s latest Real Estate Benchmarking Report, which surveyed 431 residential real estate agencies across the country, 71% of...
“While real estate agents have seen their revenue heavily influenced by external factors, profit margins and performance remain within relative control, through cost management...
43% of respondents identified price discounting and competition as a key challenge over the year, with 63% identifying staff costs and 57% naming operating costs as key reasons for...
The real estate industry is still resilient despite broader conditions, with real estate businesses with property management offerings acting as a driver of...
“Property management portfolios continue to be a focus for growth and scale, which is being bolstered by acquisitions,” added Thompson...
“With 80% of agencies focused on property management growth, the key to success will be to shift away from price driven competition towards offering holistic value...
“With one in four people changing roles over the past 12 months, coupled with increased wages and operating costs, the industry is at a critical point, where agencies need...
“Getting the people and culture balance can help differentiate an agency, drive better financial outcomes and enhance business value.”...
This was most pronounced in property management, where 35% of property managers changed employers over the year...
“What we’re seeing is business owners needing to adjust business structures to run more efficiently in the current climate, or even taking a more active role in the business to...
“With merger and acquisition activity deferred through the pandemic period and market volatility, we saw an increase in business sale, exit and succession activity in...
55% of real estate business owners said they are considering succession or reduction of operational involvement in their agency...
“The key to understanding and maximising business value includes improving business performance, supporting staff with strong processes and systems, offering opportunities to...