Commercial champion Joshua Charles sets big goals to achieve career success - Reinsw
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REAL ESTATE INSTITUTE OF NEW SOUTH WALES
MAY/JUN 2020 VOL 71/03
Commercial
champion
Joshua Charles sets
big goals to achieve
career success
LOOKING TO THE FUTURE
Opportunities and predictions for the industry
MINDSET MATTERS
Navigating uncertain and challenging times
EDUCATION, NOT ENFORCEMENT
Complying with industry reforms
PROTECTING YOU
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INSIDE
Contents
UPFRONT
5 A word from the President
6 In brief
PERSPECTIVES
12 Commercial champion
With combined transactions worth billions over the course
of his career, One Commercial’s Joshua Charles shares why
it’s essential to set big goals to achieve success.
18 Specialist service
By pushing the boundaries, Let’s Rent is now one of Sydney’s
most successful property management agencies.
20 The two of us
The decade-long mentoring relationship between Century
21’s Wayne Stewart and Belle Property’s Cathy Baker is as
REAL ESTATE JOURNAL
inspiring as it is mutually beneficial.
The Real Estate Journal is the official magazine of the
Real Estate Institute of New South Wales WELLNESS
30-32 Wentworth Avenue Content and editorial The Real Estate Journal is provided 22 Mindset matters
Sydney NSW 2000 Wordcraft Media for general purposes only. REINSW Real estate coach Jet Xavier shares advice about how agents
(02) 9264 2343 0410 330 903 gives no warranty and makes no
info@reinsw.com.au hello@wordcraftmedia.com.au representation with respect to can ensure they have the right mindset in place.
www.reinsw.com.au www.wordcraftmedia.com.au the accuracy, applicability, legal 24 Fighting against fear
correctness or completeness of
Managing Editor Art and design any of the contents of the Journal. Motivational speaker Kirsty Spraggon explains how you can
Cath Dickinson Kids Got Moxie To the extent permitted by law, embrace fear and continue to grow during challenging times.
0410 330 903 hello@kgm.studio REINSW excludes responsibility
journal@reinsw.com.au www.kgm.studio and liability in respect of any loss 26 Home is where the work is
arising in any way (including by By implementing a few simple strategies, you can set yourself
Advertising Printing way of negligence) from reliance
(02) 9264 2343 Bluestar Printing on the information contained up to work from home and maintain your work-life balance.
advertising@reinsw.com.au www.ivegroup.com.au/ in the Journal. The opinions
blue-star-print expressed in the Journal are
those of the respective authors FOCUS
Photography and do not necessarily reflect 28 Looking to the future
Studio Commercial those of REINSW.
www.studiocommercial.com The development of new business models, the diversification
of revenue streams and the power of brand trust are reshaping
the real estate industry and the customer experience.
Major Partners 33 Instagram for Business basics
Find out how you can benefit by switching to Instagram
for Business.
34 Education, not enforcement
Partners NSW Fair Trading will be taking an educative approach for six
months to help agents comply with recent industry reforms.
37 Chasing payment
These real-life cases show that professional negligence claims
against property managers for rent default and debt recovery
are becoming more common.
TRAINING AND EVENTS
38 Training update
LAST WORD
Proudly supporting 41 New members
42 In the media
MAY-JUN 2020 REAL ESTATE JOURNAL 3
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A WORD FROM THE PRESIDENT UPFRONT
Together and stronger
Challenging times? Probably an understatement.
But our industry has come together in a way that we can
be proud of and we will undoubtedly emerge stronger.
Even more so, I’m incredibly proud Heartfelt thanks
to see the support being offered across I’d like to thank every single member of the
the industry. Agents supporting agents REINSW team. What this group of dedicated
and businesses supporting businesses – professionals has achieved over recent
sharing tips, offering advice and providing weeks is outstanding. They have all stepped
insights, all aimed at ensuring we emerge up to meet the needs of our members.
on the other side of this crisis, together To do this when members need us most,
and stronger. while also experiencing the same uncertainty
being felt across the nation and around the
Information for members world, has been truly inspiring.
For a time, it seemed the landscape was As a team, we’ve moved through the
changing daily and, as your peak industry phases that this pandemic has thrown
body, we’ve had a laser focus on ensuring at us. From denial that it will really
you have the right information at your impact us, through crisis management,
Never has our industry been faced with fingertips as soon as possible. into planning and now embracing the
so much change at a single moment in Distilling the information coming opportunities that these circumstances
time. Ensuring compliance with reforms from government announcements into offer us. And all the while adapting to our
was sure to be a big task – one that all meaningful and practical advice for ‘new normal’ – working from home – and
agents and real estate businesses were members has been our absolute priority. embracing the challenges this entails.
busy preparing for. I can’t even begin to tally the hours that So to the REINSW team, I say a heartfelt
And then COVID-19 hit. the REINSW team have spent talking thank you. Thank you for everything you
Social distancing requirements and to NSW Fair Trading, preparing webinars, are doing and for the people you are –
gathering restrictions have fundamentally providing briefing documents, drafting it has been a privilege and an inspiration
impacted what we do. Onsite and in-room template letters and more – all to ensure to be a part of and I, as do all REINSW
auctions cancelled. Open homes cancelled. that you have what you need to navigate members, appreciate all that you’ve
Routine inspections cancelled. And the the way forward. done to help our industry navigate these
majority of us now find ourselves working For my part, I’ve never led so many challenging times.
from home. Almost every aspect of webinars, Zoom meetings and Facebook live
what we do and how we do it has been sessions! The feedback we’ve received from
impacted – and it’s come at a time when members has been overwhelmingly positive
we were already navigating a barrage – and it’s been interesting to get a sneak
of change. peek into people’s lives as they stream from
While it would be easy to throw up their home offices and dining room tables.
our hands and say “this is all too much”, I can’t help but wonder, how many of you
I’m proud to see agents and businesses have been doing the ‘newsreader thing’;
across our industry digging in, looking you know, jacket up top and gym gear and Leanne Pilkington
forward and embracing opportunities. ugg boots under the table? REINSW President
MAY-JUN 2020 REAL ESTATE JOURNAL 5
UPFRONT IN BRIEF
How property
managers can deal
with mould
Mould is an ongoing issue for
property managers, but what
can you do to manage it from
a practical perspective? A recent
webinar discussed hints and tips.
• Expert advice
You shouldn’t automatically
Strata by-laws and short-term rentals
assume that the tenant is at An amendment to the Strata Schemes Management Act 2015 means that owners corporations
fault. Mould could be occurring will now be able to ban short-term rentals.
for any number of reasons Commencing on 10 April 2020, a new section 137A enables the development of by-laws
and the best person to find that “prohibit a lot being used for the purposes of short-term rental accommodation” if the
the source is an experienced lot is not the host’s principal place of residence. However, where such a by-law is in place,
professional, so advise your it will not impact a host’s ability to let a room or rooms in their principal place of residence
landlord to bring in an expert. on a short-term basis.
The short-term rental accommodation Code of Conduct was expected to commence at
• Causation report
the same time, but has been deferred due to the recent bushfires and the unfolding COVID-19
NCAT wants to know who or
pandemic. The Code of Conduct is now expected to commence in the second half of 2020.
what is causing the mould.
Therefore, obtaining a Causation
Report is useful, because it
will tell you why the mould is
occurring (rather than a Toxicity
Report, which simply indicates
that mould is present).
Financial advice a no-no
The Australian Securities and Investments “At this difficult time, we’re seeing
• Talk to tenants
Commission has issued a warning to real some of our best agents doing their best
Provide tenants with information
estate agents about providing financial work – matching people with property
about how their behaviour and
advice. The warning comes after the and negotiating outcomes that provide
living habits can potentially
regulator received reports of agents their clients with peace of mind at a time
impact mould, and provide tips
encouraging tenants to draw down on their of unprecedented stress.
about how to prevent its growth
superannuation if they can’t pay their rent. “These agents should be applauded and
in the property.
REINSW CEO Tim McKibbin said the certainly not tarnished by the actions of
overwhelming majority of agents are doing a select few who have, innocently or not,
You can watch the full How property managers
the right thing. over-stepped the mark in terms of offering
can deal with mould webinar for free at
“Like every industry, those working in real financial advice.”
reinsw.com.au/webinars for more hints and tips.
estate have seen the operating landscape Tim said that REINSW does not condone
shift dramatically in recent weeks [due to any conduct by agents that contravenes the
MISSED A WEBINAR? the COVID-19 crisis],” Tim said. “Agents are law or health advice issued by the Government.
You can catch up by checking drawing on their experience, seeking the “We absolutely encourage any agents
out our full library at support of their colleagues and acting who are in need of support, advice or
reinsw.com.au/webinars on the guidance of representative bodies, clarification about how they can best
like REINSW, to steer them through. help their clients to contact REINSW.”
6 REAL ESTATE JOURNAL MAY-JUNE 2020
Mandatory Code
of Conduct for
commercial tenancies
A mandatory Code of Conduct for
commercial leasing was released
by Prime Minister Scott Morrison Winners are grinners
on 7 April 2020.
New South Wales picked up five awards at the 15th annual
The Code of Conduct, to be
legislated and regulated in each State
REIA National Awards for Excellence. REIA President Adrian To be presented
Kelly announced the winners on 25 March 2020.
and Territory, is intended to provide
“To be presented with an REIA National Award for Excellence
with an REIA
a proportionate and measured burden
share between the parties, while
is the highest honour in Australian real estate,” REINSW President National Award
Leanne Pilkington said. “Competition was fierce across all
still allowing landlords and tenants
categories, which is a real testament to the strength and talent
for Excellence
to agree to tailored, bespoke and
appropriate temporary arrangements
in our great industry. is the highest
“Congratulations to all our New South Wales winners.”
that take account of their particular
Go to reia.asn.au for a full list of winners.
honour in
circumstances.
Prime Minister Scott Morrison said
Australian
he hoped the Code of Conduct would real estate.
enable landlords and tenants to come
Commercial Property Manager
to an agreement.
of the Year
“The point here is simple – that
Helen Storey – CBRE
they sit down and work it out,”
he said. “This must be shared.
“What this does is preserve the
lease, it preserves the relationship and
Community Service
it keeps the tenant in the property.”
Award
The Code of Conduct applies to all
Cooley Auctions
tenancies that are suffering financial
stress or hardship as a result of the
COVID-19 pandemic, where the tenant
is eligible for the JobKeeper program Marketing and
and has an annual turnover of up Communications Award
to $50 million. DiJONES Real Estate
The NSW Government announced
on 13 April 2020 that it would be
enacting the Code of Conduct.
While the Code of Conduct
Residential Property
provides clarity for commercial
Management Team of the Year
tenancies, residential tenancies
Raine & Horne Newtown
have been passed back to each
State and Territory to deal with,
meaning there is no uniform approach
for residential tenants (see page 10
Residential Sales Team
for further details).
of the Year
Find out more about the Code
Morton Real Estate
of Conduct for commercial tenancies
at reinsw.com.au
MAY-JUN 2020 REAL ESTATE JOURNAL 7
UPFRONT IN BRIEF
Are you looking for detailed information about the
residential tenancies reforms?
A raft of changes to the residential changed and how the amendments
tenancies framework commenced apply in practice.
on 23 March 2020. To help you navigate The RTA in focus series is available
the changes, REINSW has put together on the REINSW website, with articles
a series of articles detailing what’s covering the following topics.
Landlord Information Statement All landlords are now required to acknowledge that they’ve read and understood
the contents of the Landlord Information Statement (an approved form published
by NSW Fair Trading) before entering into a residential tenancy agreement.
Landlord’s contact details The landlord’s contact details must be provided on the residential tenancy
agreement, whether or not a property manager has been engaged by the landlord.
Condition report One electronic copy of the completed condition report can now be given
to the tenant, rather than two hard copies.
Break fee A break fee, calculated on a prescribed cascading scale, is now a mandatory
term of all fixed term agreements of less than three years.
Material facts Drug activity, strata repairs and external combustible cladding have been added
to the list of prescribed material facts a landlord or their agent are required
to disclose to potential tenants.
Fit for habitation All residential rental premises are required to meet new prescribed minimum
standards to ensure they are fit for habitation.
Minor changes Tenants are able to make certain prescribed minor changes to the premises
and the landlord is not able to unreasonably withhold consent.
Rent increases Landlords can now only increase the rent once in any 12-month period
in the case of periodic agreements.
Smoke alarms Landlords have a range of new obligations when it comes to the installation,
repair and maintenance of smoke alarms.
Water usage charges Water usage charges are only payable by the tenant where the premises
is separately metered and certain water efficiency measures are in place.
Publication of photos and videos Photos and videos of the interior of a premises showing the tenant’s possessions
cannot be published for marketing purposes without the tenant’s consent.
Disclosure obligations for strata By-laws and the existence of any strata renewal committee must be disclosed
properties to tenants, prior to entering into a residential tenancy agreement, where the
premises they are renting is in a strata scheme.
You can access the RTA in focus series of articles at reinsw.com.au/rta-in-focus
Your Helpline is on hand
Receive practical advice on a wide range of real estate issues when you need it. No question is too big or too small, and there’s no limit to the number of times you can contact us.
(02) 9264 2343 helpline@reinsw.com.au
8 REAL ESTATE JOURNAL MAY-JUNE 2020
In March, we reached a record audience of 7 million Australians, and we have the digital solutions to help them find their new homes safely. Together, we’ve found new ways to connect within the property market, even when face-to-face communication isn’t possible. Our digital solutions can help you evolve the way you work and to stay efficient as Australians adapt to new ways of navigating their property journeys. Find out how our digital solutions can support you, your business and your relationships. Visit agent.domain.com.au/covid-19/#solutions
UPFRONT NEWS
Funding boost
for rent support
Residential landlords and tenants facing hardship due
to COVID-19 will receive increased support and greater
certainty from the NSW Government’s temporary rental
support measures.
The six-month support package includes Residential landlords will be eligible for
a moratorium on applications for evictions a land tax waiver or rebate of up to 25 per
due to rental arrears for those financially cent if they pass the saving on to tenants
COVID-19 impacted
disadvantaged by COVID-19 and new in financial distress. tenants
requirements for landlords and tenants Mr Anderson said it is important that
To meet the requirements for the
to enter into negotiations over rental both landlords and tenants continue
60-day stop on evictions and the
payments in good faith. to honour existing agreements to the
longer six-month restrictions,
Minister for Better Regulation extent possible.
a household needs to demonstrate
and Innovation Kevin Anderson said “No reasonable person wants to end
they are impacted by COVID-19.
the interim 60-day moratorium on a tenancy right now, which is why we
A household is COVID-19
finalising existing matters, or making are supporting tenants and landlords
impacted if:
new applications to the NSW Civil and to negotiate new temporary terms, so
Administrative Tribunal for evictions tenants keep a roof over their head and • One or more rent-paying
over rent arrears related to COVID-19, landlords aren’t left without rental income members of the household
sends a clear message that the process for the next six months,” he said. have lost employment or income
is not optional. “I encourage landlords and tenants to (or have had a reduction in
“We know many people are approach this new process with an open employment or income) due
worried about meeting their financial mind and an empathetic ear. It is important to COVID-19 business closures
commitments at the moment,” Mr to learn about each other’s current or stand-down
Anderson said. “That is why we need position in order to better support each
OR
more stability for tenants and landlords other during these extraordinary times.”
while the new Commonwealth income Along with these restrictions on • One or more rent-paying
support payments are rolled out and eviction for rental arrears, the NSW members of the household have
landlords talk to their bank about Government has extended the notice had to stop working or reduce
mortgage relief.” periods for certain other lease termination work hours due to illness with
Where a household is struggling to reasons to 90 days. COVID-19 or COVID-19 carer
make rental payments and has suffered At any time during the 60-day stop responsibilities for household
a loss of income equal to or greater than period on eviction and the longer six-month or family members
25 per cent due to COVID-19, there is restrictions, landlords can still apply to
AND
a new obligation to enter into negotiations NCAT to take possession of a property
with their landlord or property manager if they are suffering undue hardship. • The above factors result in the
prior to any forced end to the tenancy. The Residential Tenancies household’s income (inclusive
Tenants will be protected from eviction Amendment (COVID-19) Regulation of any government assistance)
until NCAT is satisfied that negotiations 2020 (NSW) commenced on 15 April being reduced by 25 per cent
have concluded and any unpaid rent will 2020. For more information, go to or more.
accrue as arrears during this period. reinsw.com.au/covid-19
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Powered by REI Forms Live and RealworksPERSPECTIVES COVER PROFILE
Commercial
champion
Joshua Charles has led some of the largest commercial sales and
leasing teams across Australia and New Zealand. With combined
transactions worth billions over the course of his career, he shares
why it’s essential to set big goals to achieve success.
By TINA LIPTAI
Big, hairy, audacious goals. and the most charismatic person I knew.
When it comes to making plans, Joshua I think that was part of my attraction to real
On day one, go out Charles, the Managing Director at One estate early on.”
and find a successful Commercial, always aims high. And it’s this Joshua soon began volunteering on
willingness to tackle big challenges with weekends at a real estate agency near
agent and offer to enthusiasm and determination that’s kept to where he grew up – a step he said was
work for free. If you him at the top of his game. invaluable in putting him on the path
“If you’re going to take the time to make to success.
do an internship a goal, you might as well go for it – and “I helped out at open homes to get a foot
or volunteer, you’ll go big,” he explained. in the door,” he remembered. “It was a great
“That’s why I love the thinking behind opportunity to see if the industry was right
have incredible BHAG – big, hairy, audacious goals. for me.”
access. Observe It’s about short, medium and long-term After high school, Joshua began his
planning, as well as ambition and maintaining career at PRDnationwide in residential
what makes that momentum to achieve. It can be applied property management.
agent tick, look to both business and personal goals. “It was a baptism of fire, but also
“Henry Ford said it best: ‘Whether you a great place to start,” he said. “I learnt
‘behind the curtain’ think you can or think you can’t, you’re right.’” negotiation skills and how to deal with
and find out if this different kinds of people from established
Take every opportunity agents. I was working at an agency that
is the career you Like many successful agents, Joshua knew the was dominant in residential sales and leasing,
really want. real estate industry was for him from day one. and was constantly learning. I was also
“I remember when I was in high school, exposed to agents doing commercial deals.
we had a family friend who was in real “Looking back, I know that what I learnt
estate,” he said. “He was very successful in those first few years really set me up to
12 REAL ESTATE JOURNAL MAY-JUNE 2020MAY-JUN 2020 REAL ESTATE JOURNAL 13
PERSPECTIVES COVER PROFILE
take on bigger roles relatively early and it’s fair to say I was at the top And if it is, then find ways to become
in my career.” of my game, but it’s still very risky indispensable.
After just two years, Joshua landed to run your own business. “That’s how you’ll find success.”
a role at Colliers International where, “It’s exciting, but at the same time
he spent 10 years in industrial sales you do think ‘can I really do this?’ An energy game
and leasing, becoming the youngest Anyone would have those doubts, “There’s zero doubt for me that real
director in the business. Then, at 28, especially in commercial where estate, whether it’s commercial or
he was recruited by CBRE as their transaction volumes are lower than residential, is an energy game,” he
youngest Managing Director to run residential. But within eight weeks, said. “You need to have enthusiasm
the South Sydney office. Under his I was again doing large transactions for what you are doing and that builds
leadership, the office had the second across the country and I’ve never momentum. I’m that guy who, after
highest percentage of profit in the Asia looked back.” three days of holidays, wants to go
Pacific region and grew from a team back to work!
of eight people to 35 in just four years. Striving for success “If I believe in the deal, then our
Joshua was then appointed to the Finding himself on a steady trajectory team and our clients can also see it
role of CBRE’s Managing Director of to success very early on in his clearly. That’s what wins business. You
Australia and New Zealand Industrial career, has given Joshua a unique need the expertise, but it’s the energy
and Investments Business for Sales and understanding of how to help up- and passion that clients really want.”
Leasing. The need to oversee hundreds and-coming agents get a foothold Joshua said that his energy for
of people in 25 offices presented in the industry. real estate is greater today than
Joshua with the challenge of moving “I did have a lot of opportunities it’s ever been.
from a geographically-focused strategy early on in my career that were rare “I’ve really made a conscious
to a country-wide, helicopter view for my age,” he said. “But it all started effort to focus on what matters to me
of the business. by putting myself in the right situation. and what matters to success for the
When global giant Cushman “At the age of 21, I was part of the business,” he explained. “In a large
& Wakefield sought to supercharge team in Colliers’ industrial group. It was commercial agency, it’s easy to get
their business in the Pacific, they a small team and I was surrounded by stuck in back-to-back meetings or be
appointed Joshua as the Managing highly successful people. And that’s pulled in other directions. But today,
Director of Australia and New Zealand one of the best ways to learn – by running my own business, I make sure
Capital Markets (industry jargon for being with the best and doing what my whole day is spent doing what
large investment sales) and all sales and they do. I love – transactions that produce
leasing businesses, as well as the NSW “In that environment I thrived and results for clients.
Managing Director of every business unit. gained confidence, which allowed “It’s clear to me now, after 25 years
“These were two big roles in one,” me to take on more challenges. Most in senior roles at global firms, that
he explained. “I was working to people who have worked with me will I should have been recruiting more
restructure and organise, as well tell you that I have a serious work ethic. people who had started their own
as grow, the business. In a lot of ways, In my early years, I was out-working my businesses. They are the people who
my focus was less on real estate and competition, putting in longer hours make very rounded executives and
more on recruiting.” and getting results.” have a laser focus on results.”
Then in 2016, Joshua took on one His advice for agents who are just Joshua said having a clear definition
of his biggest challenges and launched starting out is simple. of success and processes in place to
his own commercial agency – One “On day one, go out and find consistently deliver results are key
Commercial. While he had a list of a successful agent and offer to work to maintaining momentum.
enviable achievements to his name for free,” he said. “Don’t get me wrong, we have more
and consistent career success, Joshua “If you do an internship or volunteer, fun than most, but when its game time,
admitted the decision to step out you’ll have incredible access. Observe it’s on,” he said.
on his own was not one he took lightly. what makes that agent tick, look “I worked out early on that deals
“It was a big decision for me,” he said. ‘behind the curtain’ and find out can fall over as quickly as they start.
“I knew I wanted to do it at some point, if this is the career you really want. As commercial agents, we can work
14 REAL ESTATE JOURNAL MAY-JUNE 2020for months on a deal and then, after that they meet is the team that handles to hear that I’m actively working on
one phone call, it can all be over and the whole transaction. building my profile and the businesses’
you get nothing for the time you have “We also have a helicopter view of profile on social media.
put in. the national market, which makes our “I was resistant to it for a long time,
“For me, it’s about having balls in service different to agencies that focus but I’ve realised it comes back to the
the air. You want to have many leads on a smaller geographical patch or are concept of touch points. When I started
and plenty of different deals on the go part of a global business.” out, I would print 500 letters, sign
all the time, so if one deal falls over you them and send them out to clients.
aren’t brought to a standstill. Success Getting social But today, I can make the same, if not
for me is focusing on identifying As the leader of One Commercial, more, impact through engagement
opportunities and being good Joshua is always looking for ways to on Instagram, LinkedIn and Facebook.
at winning new business. expand the agency’s reach and ability “I’ve quickly seen how effective
“I love going up against the big to cultivate new clients. This year, for social media can be to directly connect
firms and knowing that our team, the first time, that strategy has included with existing and potential clients.
a smaller firm in Sydney, has been social media. Social media isn’t something that’s
chosen because of our level of “In the past 12 months, I’ve really done in the commercial space as much
expertise. What’s important for me seen the power of social media for as other areas of real estate, but if it’s
is that we can deliver personalised commercial agencies,” he said. “I think done right then I think it’s incredibly
service to our clients, and the team a lot of people would be surprised valuable."
Leading by example
As someone who has been in commercial property for is rare. Our newer agents are exposed to large, high-
25 years, Joshua feels a real responsibility to give back value transactions that some people who have been
and help agents who are new to the industry. in the business for 10 years don’t get to see up close.”
“I really enjoy it,” he said. “I lead by example. I keep Ongoing training is also a focus for Joshua and his team.
the pipeline full and set audacious goals. I also have “I believe there’s a lot of value in looking outside
a serious commitment to training, because I think the to other industries and ways of thinking to build our
best way for anyone to learn is to be exposed to the skills,” he said. “One thing we’ve done is attend AREC
best people and the best ideas.” – a conference with about 5,000 residential agents,
Joshua explained his hiring strategy. but probably less than 20 commercial agents. There’s
“When I’m looking at whether to take on a new opportunity there, as we can learn a lot from residential
agent,” he said. “I always hire the person and train the agents. We do larger deals, but residential agents have
skill. I’m looking for someone who has really good EQ a much higher frequency of transaction, so they have
and can build rapport quickly, because we can teach very efficient processes in place that we can adapt
anyone the skills to be a commercial agent. and use.
“I say to all new agents, ‘we can pressure cook your “We also often have senior people from banks, clients
career’. What I mean by that is that when you start and developers come in and speak to our team about
at One Commercial, you’re sitting in the same room how we can better work with them, which is something
as the Managing Director and senior agents, who each I would have loved when I was starting out in the industry.
have so much experience. From day one, a new agent “I’m super proud that the relationships I’ve built over
gets to see everything about how we all work, which the years now allow me to provide this for our team.”
MAY-JUN 2020 REAL ESTATE JOURNAL 15PERSPECTIVES COVER PROFILE
WHY I LOVE REAL ESTATE
“I love chasing deals – the bigger, the better – and the unpredictable
opportunities that come with commercial real estate.
“Putting up competitive pitches alongside major global commercial
In a large commercial agency, it’s
real estate firms for some of the biggest sales and leasing transactions easy to get stuck in back-to-back
in Australia, and winning, is hugely satisfying.
“I like that in commercial real estate a deal either makes sense or it
meetings or be pulled in other
doesn’t; there’s much less emotion involved than in residential property. directions. But today, running
I look at the numbers and use my knowledge of the markets to help my
client make a logical decision based on strategy.
my own business, I make sure
“High-value commercial real estate is cut-throat and competitive. my whole day is spent doing what
You must have an incredible work ethic, consistency and enthusiasm
to be successful in this business – and that’s as true for me today
I love – transactions that produce
as it was when I was starting out. results for clients.
“I try to live my life by the saying, ‘who dares wins’, which is the SAS
motto. It really is a driving force behind much of my motivation in
business; you need to do the work and research, but ultimately it’s the
people who have the courage to go for it who find success. It’s not luck.”
Career insights
Joshua shares his tips about how to build a strong and thriving 3. Stay fresh
career as a commercial agent. This is unquestionably an energy game and you must maintain
that enthusiasm. One to two-week holidays with my family are
1. Personal presentation is huge
fantastic, but what about the rest of the year? I’ve found that
First impressions count. Most decisions made about any
taking long weekends every few months and actually getting
person are done using non-verbal cues. We all do it. You
away, does wonders. Take Friday and Monday off and leave
need to look the part. In commercial, we’re dealing with
town. It has a lot less impact on your work-in-progress, and
big business – ASX listed and global companies, CEOs,
you’ll come back refreshed and energised.
CFOs and super high net worth individuals. If you want
to do business with these people, you need to remember 4. Learn to juggle multiple deals
two things. First, if you present well, it suggests you’re As the adage goes, ‘if you want something done give it to
good at what you do and people want to do business a busy person’. There’s never nothing to do. I know many
with successful people. And second, it shows them people won’t want to hear this, but as someone who has run
you’re serious and respectful of their position. big businesses, it’s very easy to see which new commercial
agents will be successful and who won’t. People who like to
2. Research your potential client or employer
be busy, keep their eyes open for new opportunities and can
In today’s digital and connected world, there’s zero
work multiple deals at once, are always going to do better
excuse for not understanding some basics about your
than someone who has blinkers on and can only focus on one
potential client or employer. Everyone has an online
deal at a time. How many balls you have in the air is critical
footprint, be it LinkedIn, Facebook or Instagram. Being
to ongoing success.
able to discuss some common ground you find on their
online profile will break the ice and create rapport with 5. If you don’t love it, leave it
new business opportunities or a potential employer. I’m not going to preach ‘if you find something you love, you’ll
If a potential employee doesn’t show some degree never work another day in your life’. But if you aren’t pumped
of research when I first sit down with them, it immediately to do this every day, you’ll fail because there are too many
tells me they don’t have the resourcefulness for this people who really do love commercial real estate and they’re
competitive business. always going to outwork you.
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Specialist service
By HEDGIE GUNDRY
Back in 2005, Let’s Rent Founder and Managing Director Lisa Indge was on
a mission to turn the business of property management on its head, with a new
philosophy, a vibrant culture – and, in a bold move – no sales agents. Since then,
Lisa and her team have continued to push the boundaries and Let’s Rent is now
one of Sydney’s most successful property management agencies.
With a dynamic team of 11 and a largely residential property maintenance are all carried out by specialists to make sure we
portfolio spread across the greater Sydney area, Let’s Rent mitigate risk at each stage of the property management cycle.
is renowned for its high levels of customer care, diligence, “As part of the onboarding process with any new client,
expertise and professionalism. we go through this structure so they know how we will partner
“When I started Let’s Rent from scratch over 15 years ago, with them at each step of the property management process.
I was determined to offer property owners and tenants a different “Another way we are unique is that none of our current
way to rent,” Lisa explained. “I wanted to respect the needs team has come from a real estate or property management
of both owners and tenants by managing well-maintained background. We employ people based on their attitude and
investments and making sure tenants were living in homes their passion for property and people.
they cared about. It’s a mutually beneficial relationship.” “We firmly believe in training our team in the relevant
According to Lisa, her niche in the market and unique service specialist areas right from the outset,” she added.
underpinned her early success.
“Let’s Rent grew rapidly, as many of our early clients were Going the extra mile
concerned about the way tenants had traditionally been treated Over the years, Lisa and her team have also become trusted
in the market and could see the benefits of working together advisors on how best to manage long-term investment properties.
respectfully,” she said. “I often receive calls from clients who want to discuss the
“Our year-on-year growth since then has been due to our future of their investment property. Should they sell or renovate?
strong referral business and the way we have nurtured our client What returns can they expect?” Lisa said.
relationships over the years. In short, if you don’t have these “And if they want to renovate, we’ll help manage the process.
longstanding relationships, you’re not going to be successful. Many of our clients in this position are based overseas in places like
The longevity of our relationships is extremely rewarding Singapore, Hong Kong or the United Kingdom and have confidence
on so many levels.” in our capabilities in this area. We truly go the extra mile.”
“It’s the same with our tenants. No one likes moving. That’s
Task-based business why we nurture our tenants through the vacate and moving
While it was a brave move back in 2005 to establish a property in process, so that both experiences are as pleasant as possible.
management business based on a division of tasks, Lisa is rightly “A lot of our systems are designed around this approach.
proud of her approach. For example, we have moved to electronic leases and condition
Rather than having teams where one property manager looks reports. And if a tenant is moving in on a Saturday, we leave
after clients and another looks after tenants, or having portfolio the key in a lockbox, so they don’t need to come to the office
managers who manage a certain number of properties, Let’s to pick up the keys. These are just small things, but our tenants
Rent is a task-based agency. are so appreciative.
“At Let’s Rent, we have a clear division of tasks based on “We’re all about improving the tenant experience for the
risk,” she explained. “Leasing, compliance, management and benefit of all parties.”
18 REAL ESTATE JOURNAL MAY-JUNE 2020Helping tenants find homes and owners find
peace of mind brings us great satisfaction.
We’re all invested in the bigger picture, with
similar goals and a desire to help people.
Supportive culture
Not surprisingly, Lisa’s caring approach towards her property
owners and tenants is reflected in the way she manages her team.
“We have an incredibly nurturing environment within
our office,” she said. “It’s tough enough as it is managing
property owners and tenants through the stress of vacating
and moving. Our culture is supportive, genuine and authentic,
mixed with a huge dose of respect.
“Helping tenants find homes and owners find peace of mind
brings us great satisfaction. We’re all invested in the bigger
picture, with similar goals and a desire to help people.
“It would not be the business it is today without our
amazing team.”
Industry commitment
Lisa also believes in giving back to the real estate industry and
has been an active committee member of the REINSW Property
Management Chapter for the last six years, where she contributes
to industry-wide change.
“It’s such an honour to be part of a committee of property
management experts who are always striving to push
government on change and take care of the needs of our
property management members,” she said.
“We’ve put forward solutions to issues in the industry,
reviewed and commented on legislation, and met with the
NSW Government on many occasions. My involvement
at this level is hugely important to me.
“Our team and clients benefit, because they know we care
deeply about the service we’re offering and have access
to the very best industry expertise.”
The future
So what does the future hold for Lisa and her team?
“I’m really excited about what the future holds,” Lisa said.
“We’ve recently fitted out and moved to a new office, so we
now have a more comfortable and effective work environment.
“We’ve reviewed many of our systems and processes from
start to finish, and will be implementing new training to support
everyone personally and professionally for the long term.
“Our goal in the next five years is to grow our team and
continually review our processes and service levels. And we’ll
continue to push the boundaries and offer the best property
management service in the business.”
MAY-JUN 2020 REAL ESTATE JOURNAL 19PERSPECTIVES MENTORING
The two of us
By HEDGIE GUNDRY
Wayne Stewart and Cathy Baker are a formidable pair. Their
decade-long mentoring relationship is as inspiring as it is mutually
beneficial. Here they share their mentoring journey.
WAYNE STEWART
Managing Director at Century 21 Novocastrian and former REINSW President
When the REINSW Mentoring Program launched That first ‘Cathy Baker Business Plan’ still sits
back in 2011, I thought it was a sensational idea proudly in my office today.
and was quick to volunteer. I was asked if I’d be Cathy and I don’t get to see each other as
happy to mentor someone from the Central Coast, much as we’d like as we are both so busy, but
as I’m based in Newcastle, and I gladly obliged. she truly epitomises for me that, in life, you can
I first met Cathy at the inaugural Mentoring become whatever you want to be – you simply
Program meeting and, when the formalities were need dreams, goals, a plan and huge commitment.
over, we sat down to get to know each other. She I’ve loved working with Cathy over these
told me her story, talked years and watching her smash each of her
about her family, how remarkable goals. I also admire her for what she
Everything she does, long she’d been in real represents to women in business. While she was
estate, her current achieving these remarkable goals, she’s also been
she does from the heart. performance figures, a mother to four boys at a very demanding time
For me, this is one of the where she was today of their lives.
and where she wanted Cathy is an inspiration for any real estate agent
core reasons why she’s to be. To be honest, who wants to be successful. This is just one of the
so successful. She truly I was immediately in many reasons why I encouraged her to become
awe of her. This was the a member of the REINSW Residential Sales Chapter
cares about what she beginning of what was Committee – so she can inspire and encourage
does and the people to become an inspiring many others.
journey for both of us. In my experience, everyone who works in real
she does it for. That has Cathy and I worked estate sales has an ego. You need an ego to
been one of the greatest together by talking do this job in the same way you need an ego
through her goals to be an actor. You’re out there performing, at all
pleasures of working and how she was levels, all the time. But once I got to know Cathy,
with Cathy Baker. going to achieve them. I realised she runs a business that is genuinely not
Initially, I thought she ego-based. Everything she does, she does from
was being overly ambitious, but her passion was the heart. For me, this is one of the core reasons
infectious. I knew she would succeed as she had why she’s so successful. She truly cares about
such a clear vision. what she does and the people she does it for.
After a couple of brief phone conversations, That has been one of the greatest pleasures
I met Cathy on the Central Coast and asked her of working with Cathy Baker.
to come up with a business plan. The first step was I’ve gained so much from this mentoring
to help her understand that she was running her relationship, not least of which is a dear friend
own business within a business, and, when she had who I look to with the greatest of respect.
her plan in place, she could grow accordingly from I’m incredibly proud to have had a small part
there. It was a simple step and she’s not looked back. to play in Cathy’s incredible career journey.
20 REAL ESTATE JOURNAL MAY-JUNE 2020CATHY BAKER
Principal at Belle Property Killcare
I started in real estate when I was 40; I had four of REINSW with a vast wealth of real estate
young children and needed to learn all I could knowledge, he’s such a valuable resource
about the industry as quickly as I could. for someone in my shoes.
Wayne was part of the REINSW Mentoring Wayne is very generous with his time and
Program and, when I applied, we were lucky I can always call him if there’s something
enough to be assigned to each other. We I’m unsure of, even to this day. He runs a big
committed to regular catch-ups in person, business himself, but
but I also knew I could speak to him over the still finds the time to Now that I’m more
phone anytime I wanted. help anyone he can –
Wayne immediately understood how my and this is one of his
established in the
business worked, as he’s also based in a regional most endearing traits. industry, we support
area. He knew the Central Coast extremely well Now that I’m more
and had an in-depth understanding of what established in the
and learn from each
I wanted to achieve. industry, we support other as much as we can.
When we first came together, I was just starting and learn from each
in real estate and had so much to learn. Wayne was other as much as we
A mentoring relationship
fantastic at guiding me through the processes and can. A mentoring between two people at
helped me to avoid making huge mistakes. He has relationship between
always had a great ability to advise me in ways two people at different
different stages of real
that are easy for me to understand. stages of real estate is estate is exciting. There’s
Having Wayne as my mentor was an absolute exciting. There’s a real
godsend. Even though the official REINSW synergy between us
a real synergy between
Mentoring Program only lasted 12 months, he’s and he’s now a lifelong us and he’s now a lifelong
remained a huge influence throughout my real friend as much as he’s
estate career. And, importantly, we’re firm friends. a valued mentor.
friend as much as he’s
He’s such a warm and kind-hearted person, and We used to meet a valued mentor.
has always had 100 per cent confidence in my up monthly at the
abilities. I also love his dry sense of humour and REINSW Residential Sales Chapter Committee
positive outlook on life. meetings, but he’s recently stepped down from
Wayne has been my sounding board for all this position. It’s a bit sad for me thinking about
the major business decisions I’ve made, from the fact he’s not going to be there to catch up
being an agent back in 2009 to becoming the with regularly.
principal of my own business in 2015. Even though When I reflect on my journey and the people
I’ve had business coaches and trainers along who have had the most impact on my career,
the way, Wayne has been there every step of Wayne has been a constant inspiration throughout.
the way and I have huge respect for him and I’ll be forever grateful for the opportunities
value his expert opinion. As a former President Wayne has given me.
MAY-JUN 2020 REAL ESTATE JOURNAL 21WELLNESS MINDSET
Mindset matters
As the COVID-19 crisis continues to unfold, leading mindset coach
Jet Xavier shares his advice about how agents and business owners
can ensure they have the right mindset in place to navigate these
uncertain times.
By CATH DICKINSON
Right now, first and foremost, Jet Xavier said Jet advised agents to “play the short game.”
agents need to focus on what they can control. “Look at the practical things you can do
“This is key,” he emphasised. “There’s no today to ensure your business can push
point trying to control things that are out of through to the next stage of this crisis. Call your
your control. It just leads to extra stress at an sellers to reassure them and continue to build
already stressful time. Focus relationships. Likewise, touch base with buyers.
on the things that are within Your relationships are now more important
We need to be your sphere of influence. than ever.”
focusing on the What’s happening today? “Being reactive and focusing on today is OK.”
Tomorrow? Now, as an industry, Jet emphasised that
right things, so “Things are changing we all need to be less stressed.
we have the right rapidly and will continue to “We need to be focusing on the right
change in the coming days, things, so we have the right energy,” he said.
energy. When we focus on weeks and months. How will “When we focus on our perspective, optimism
our perspective, optimism and the government’s restrictions and resilience, there’s an indelible impact
change this week? Who knows. on our overall mindset. In turn this helps us
resilience, there’s an indelible This makes it hard to feel to foster an energy that pushes us forward
impact on our overall mindset. a sense of stability.” as individuals and as an industry.
Jet said agents can regain “Unfortunately, it won’t change how
Jet Xavier some stability by asking things pan out for some. There will still
Mindset coach themselves “what can I control today?” be those who lose jobs and suffer financial
“This stops you fixating on the future hardship. And there will be others who lose
and worrying about all the ‘what ifs’ – and, their businesses.
let’s face it, these are mostly negative at the “But it’s your mindset that will get you through.
moment. Focusing on ‘what ifs’ is wasted “As Nelson Mandela said: ‘Don’t judge me
energy and, right now, you need that energy by my successes. Judge me by how many times
to focus on what’s in front of you today.” I fell down and got back up again.’”
22 REAL ESTATE JOURNAL MAY-JUNE 20203 STEPS TO THE RIGHT MINDSET Wellness in the real estate
industry
1
PERSPECTIVE In 2017, Jet Xavier initiated the Revive Project
Jet Xavier said that your perspective drives behaviour. to explore the wellness and wellbeing
“What if your perspective is ‘things are really, really bad’ or ‘oh of people in the real estate industry.
my gosh, everything is going to fall apart?’ That sort of perspective The first phase of the project included
brings with it a negative energy. You need to foster a perspective that an industry survey, roundtable meetings and
gives you positive energy.” wellness summit, with the results (released
But how? Jet advised agents to look for the upside. in late 2017) revealing that real estate workers
“Now, more than ever, we need to have a perspective of opportunity, are more likely to be stressed, anxious and
not survival,” he said. “Ask yourself, ‘what opportunities are there?’ time poor than the national benchmarks.
When you look for the upside, that’s a different energy. Fast forward to 2019, and the results
“By changing your perspective of what’s going on around you, you’ll of the second phase of the Revive Project
be in a stronger position to push through this current situation.” were released.
2
“Generally, the results show a positive shift
OPTIMISM towards wellness and wellbeing, however
If you look to history, we always come through, Jet said. there is a slight negative trend in responses
“It’s about optimism,” he explained. “No matter what we’re relating to a sense of accomplishment and
faced with, we can bounce back – but we have to choose to be progress in work (though this may be in line
optimistic. It’s a choice every single one of us makes. with external market forces),” Jet explained.
“In the coming weeks and months, there will certainly be those “It will be interesting to see the results
who lose their jobs and businesses that experience severe financial of the next phase, given the environment
stress. There will be those that pick themselves up and say ‘oh well, we find ourselves working in during 2020.”
let’s start again.’ And there will be others who blame the world for
their woes.
“It’s not easy – but optimism is the belief that things will turn out
right. Optimism gives us something to hold on to and the confidence
Key findings
that we’ll get through. It’s about looking to the future and not giving
up. By having an optimistic outlook, we can keep our spirits high,
stay positive, innovate, adapt and do our best.
“We need optimism to sustain us, rather than pessimism, which 46% 35%
will stifle us.” often or always felt sought medical advice
3
physical symptoms one or more times for
RESILIENCE of anxiety work-related stress
Now, more than ever, resilience is important, Jet said. (2017: 47%) (2017: 35%)
“Resilience is the ability to keep pushing forward, regardless
56% 39%
of what else is going on,” he explained. “There are no guarantees
about the outcome and there are no assurances that everything will
be perfect. But resilience allows us to keep pushing forward.”
Jet pointed to Turia Pitt, who in 2011 suffered burns to 65 per often or always felt often or always felt
cent of her body when a grass-fire swept through the path of the stressed overwhelmed by work
ultra-marathon she was running. She spent five months in hospital (2017: 65%) (2017: 43%)
and wasn’t expected to survive. She recently gave birth to her
second child.
“When asked how she keeps on going, Turia said ‘there’s a piece
inside me that the fire didn’t get to,’” Jet said. “Right now, we all need
33% 26%
to be looking for that piece. We have to tap into that part of ourselves. were not satisfied with had no hobbies or
We can tell ourselves we can’t do it, or we can move forward. their physical health interests balance work
“What story are you telling yourself right now? Is it one of resilience and fitness (2017: 28%)
and overcoming? Or is it something else. We have to be prepared to (2017: 39%)
change the stories we tell ourselves in order to build resilience.”
MAY-JUN 2020 REAL ESTATE JOURNAL 23You can also read
