LIFT 2026, Proptech Pulse and a Cooling Market

Peter Schravemade (00:07)

G'day, and welcome to the Before the Weekend podcast. This is our tenth episode, so that is a bit of a milestone.

It has been a massive week in Queensland for the real estate and proptech industries. We had the REIQ LIFT conference, which brought together a bucketload of practitioners, international speakers, technology companies and industry leaders in Brisbane.

We also launched the Proptech Pulse report and hosted the 2026 Top of the Props pitch battle. We heard plenty about artificial intelligence, regulation, the property market and what is really happening inside the industry.

Helping me unpack all of that today is my wingwoman, Kasey McDonald. Sadly for her, she has been my wingwoman for at least the past ten years, but she keeps turning up, so there must be something there.

We were both at REIQ LIFT. Kasey, what did you think? How was the week?

Kasey McDonald (01:06)

It was a fantastic two days, with some excellent speakers who made their way over from the United States to present to us.

I thought Jared James opening the event really set the tone for what the two days would be about, particularly around branding and how agents make sure they are presenting themselves in the right way.

What I loved was the way he showed the Instagram pages. Many of us could certainly do better there when promoting ourselves and our businesses, so there were some great insights.

I also absolutely loved Alison Ariotti's presentation-to-camera session. You and I do that all the time, but there are still moments when you think, "Did I pull that face? What did I say? Do I sound okay?" Sometimes you take millions of takes. Even when you do it frequently, it is still valuable to get some tips, so I thought that was one of the best sessions.

Of course, my session was actually the best, Pete. I must admit, I received some great feedback afterwards. I was not sure whether we had many property managers in the room, but there were about 30 who came to my session. I was really pleased to see property managers attending the two days, getting involved and learning.

Overall, it was a great event. As always, there are things that can be improved next year. Having run events myself, I understand that. But every piece of feedback I heard from suppliers and attendees was that it had been an excellent two days.

Peter Schravemade (02:51)

REACH Australia and New Zealand was a major sponsor of the event. The theme we wanted was really about pairing technology with the consumer and creating an open dialogue. I felt that was achieved.

We talked a lot about artificial intelligence, obviously the elephant in the room, and some very positive conversations came out of it. The focus was on the consumer rather than the technology itself, and on how we align ourselves with AI and use it as a tool.

Nobu Hata from Zillow spoke about the real estate experience and said we should look at what Amazon, Uber and other industries are doing and consider how that translates into real estate. It was fascinating to hear his perspective.

I was calling for agencies to have better and cleaner data in their CRMs and communication channels, so they can interrogate it more effectively. We are moving towards a future where we harvest the data we already have to make our jobs better as humans and strengthen trust.

It was also interesting because AML/CTF had recently commenced, and the REIQ had transitioned its forms platform into the new Realworks environment. Yet neither topic dominated the room. Practitioners seemed to have those changes under control. Would you agree?

Kasey McDonald (04:39)

Definitely. I did not hear any negative feedback or conversations about those two topics.

It was refreshing that the people in the room were there to learn, better themselves and take practical ideas back into their businesses. They were there with the right mindset.

The structure of the event also worked well. Having the Tech and Innovation Stage meant people could forge their own pathway. If they wanted to learn specifically about AI or new technology, they could attend those sessions. If they wanted to understand the economic market, they could listen to the Bank of Queensland's Chief Economist.

Regardless of your role, you could build a program that suited you. Most importantly, the sentiment across the two days was energised, upbeat and positive.

Peter Schravemade (05:55)

We also had representatives from Real Estate Institutes across the country.

Audra was there from Western Australia. Andrea and Cain were there from South Australia, and we will hear from Cain shortly. Toby, Megan and Jacob were there from Victoria. Jacob is also President of the REIA. Leanne Pilkington, a former REIA President and former REINSW President, was also there. The CEO of the REIACT attended as well.

It was very well represented nationally. Even seeing people from other states in Queensland saying, "There are things we can take back from what we have heard," was valuable.

We had Ines Hegedus-Garcia from Miami, Nobu Hata, Jared James, Todd Sampson, Scott Bateman and Michael McQueen. If you walked away without a takeaway, you probably missed something.

The exhibitor hall was packed. It was a little cramped, but I genuinely do not think they expected the number of exhibitors they received. There were close to 60 exhibitors and around 40 speakers. I am not aware of another Australian conference currently offering that scale, so that was a real credit to the REIQ.

The one suggestion may be that they need to look at the venue earlier for next year.

Kasey McDonald (07:48)

Definitely. It was cosy rather than cramped.

What I also noticed, and discussed with Antonia, was that the exhibitors were aligned with the direction of the industry. They genuinely understood how to add value to practitioners.

They were not simply there to sell a solution or product. The exhibitors seemed genuinely interested in helping agents and property managers improve what they do on the ground.

Peter Schravemade (08:42)

That was refreshing. The Tech and Innovation Stage was also located inside the exhibition hall, so it was a good way to bring those two experiences together.

Kasey, you caught up with Cain Cooke, Chairman of the Real Estate Institute of South Australia. Let us throw to that interview now, and we will come back in about five minutes.

Kasey McDonald (09:16)

Good afternoon, everyone. Kasey McDonald here from Before the Weekend, and I am delighted to be joined by Cain Cooke from the REISA. Thanks for joining me.

Cain Cooke (09:28)

It is a pleasure. Thanks for having me.

Kasey McDonald (09:31)

We are at the REIQ LIFT event today. Talk me through how the morning has been for you.

Cain Cooke (09:34)

It has been fantastic.

It is always nice to have everyone together in one room. The problems and challenges we encounter as an industry are becoming less state-specific. They increasingly cross state borders and even international borders.

Some of the things discussed today have real relevance in our own backyard, but also for us collectively as a nation.

Kasey McDonald (10:01)

Let us talk about your backyard. We were just discussing what a beautiful day it is outside while we are stuck indoors.

What is happening in the Adelaide market? What are you seeing on the ground?

Cain Cooke (10:16)

The South Australian market is typically very resilient.

While it has definitely slowed from a pace perspective, it is still performing well. We have a lot of pent-up buyer demand, so buyers are still showing up. They are a little choosier and taking more time, but properties are still moving and moving well.

For decades, South Australia's market has been resilient. We are seeing that continue in the face of some of the headwinds affecting the country.

Kasey McDonald (10:46)

We have been hearing that buyers are becoming more patient around Australia and that prices are beginning to soften in Sydney and Melbourne.

We are fortunate where we are located because pricing is still trending upwards. Is that what you are seeing in Adelaide and across South Australia?

Cain Cooke (11:09)

We had our state conference a couple of weeks ago, and I said to everyone, "Welcome to real estate."

We are coming off the boom. This is real estate. It does not mean the market will tank. It means we have to work harder, share the information we have, educate buyers and sellers, and do our jobs properly.

South Australia remains a highly desirable place to live. While prices have accelerated over the five years since COVID, what you can buy in Adelaide and the lifestyle you receive for the money still represent fantastic value.

Kasey McDonald (11:47)

From your perspective, what is the one thing sales agents in our industry need to do better right now?

Cain Cooke (12:00)

I am passionate about getting us into the trusted-adviser seat.

Most people have a doctor, financial planner, accountant or lawyer. Depending on their circumstances, they have a panel of trusted advisers they can approach when needed.

I would love to see more real estate agents actively pursue that position. It requires being educated, sharing knowledge and providing advice at different stages of the journey, not only when someone is ready to sell.

That professionalises the industry and unlocks enormous value. When people are ready to sell or transact, you are already in the box seat because you are their trusted adviser.

That is more important than ever because we will have to play the long game in how we deal with clients, transact property and secure listings.

Kasey McDonald (13:01)

One final question about technology.

We have seen the forms technology situation play out across Queensland during the past few weeks. What are you seeing in South Australia, and what key piece of technology do you think people should be leaning into?

Cain Cooke (13:27)

I think it is horses for courses. It depends on how you build your business.

We have been through the forms transition in South Australia. We are about 18 months down that road, and it has been an extraordinary journey. It has been challenging and difficult. Once people are established on a platform, they generally prefer to stay there.

From our perspective, bringing some of these assets back under industry ownership and control is important for the long term.

Whatever technology enables you to spend more face-to-face time with clients and have the right conversations in people's lounge rooms is technology you should deploy.

Systemise the routine and humanise the exceptions. That is where the magic happens. The exceptions are the human part.

Being a great real estate professional is not about how good you are at administration. It is about your emotional intelligence, how you build strong connections and trust, and how you use that to provide sound information and counsel.

Kasey McDonald (14:33)

Amazing. Thank you so much.

It was lovely to meet you today, and I appreciate you sharing those quick tips with the industry. This is Kasey McDonald from Before the Weekend.

Peter Schravemade (14:49)

Great interview, Kasey.

It was a packed venue and a difficult hallway in which to conduct an interview because everyone was walking past, but you did very well.

What did you take from the conversation with Cain?

Kasey McDonald (15:06)

I thought it was excellent.

It was valuable to hear Cain's perspective on collaboration between the Real Estate Institutes. You mentioned earlier that representatives from other states were present, and it was good to hear his view on why they need to come together and learn from one another.

Queensland can learn from South Australia, and vice versa. South Australia also recently held its own conference, so it was useful to hear about the differences in the Adelaide market.

The final part about technology was particularly relevant. The REISA has also been through a forms platform transition. It was valuable to hear about those pain points and the experience of moving from one provider to another.

It was a short and sharp interview, but I really enjoyed the conversation.

Peter Schravemade (16:16)

Another theme of LIFT was change management and how businesses handle it, so that conversation rounded things out well.

Credit to Cain and Andrea for the excellent job they are doing in South Australia. I attended the REISA conference recently, as we discussed last week.

We also hosted Top of the Props. You could not make it, Kasey, but it was the third year of the event and the second year in its current format.

As part of the evening, REACH Australia and New Zealand supported the launch of the Proptech Pulse, produced by the independent industry think tank PropTech CoLab.

There was a fantastic atmosphere. After LIFT, everyone moved to Lefty's Music Hall on Caxton Street. What better place for a battle than Caxton Street?

Credit to the six finalists who got up on stage. One thing I always forget is how nerve-racking it is to pitch in front of your peers, regardless of how well you know them.

Top of the Props is delivered under difficult conditions. Each finalist has a maximum of four minutes and will be stopped when time expires. Two contestants were timed out on the night.

It is not easy to pitch a product in four minutes, although most practitioners would probably agree that a founder should be able to explain their product within that time.

Kasey McDonald (18:15)

I could not make it, but I did watch the recap. We should make it clear that although you hosted the event, you were not one of the judges.

What did you make of the pitches? What separated the winners from those who could not finish in four minutes?

Peter Schravemade (18:38)

The Judges' Winner was Homesnoop, a company I had not encountered before the applications opened. No offence to Homesnoop, it simply had not crossed my radar.

The People's Choice Award went to Crayons CRM.

Homesnoop defined its product, addressable market, target audience and reason for existing very succinctly. It got almost everything right on the night. Very little was left to the judges' imagination, and Tim Cassell answered the questions confidently. In my view, Homesnoop was a deserving winner.

There were other pitches that came very close. Josh Volk from ParkBooker was strong, although he was one of the people timed out.

Katie Cotton from Recruit RE nailed her presentation. Jonathan Baker from RealZilla jumped out of his skin on the night and delivered exceptionally well. Eileen Merriman from Dwella was excellent.

Russell Peter from Crayons CRM is a property manager who developed an idea from within the industry. I do not think I have previously seen a property manager pitch on that stage, and he absolutely nailed it.

It was excellent to see all six companies.

The event is not only about the winner or the People's Choice Award, although those are valuable accolades and are gaining credibility. There were investors, influencers and Real Estate Institute leaders in the room saying, "I did not know that existed, and that could be a real asset to our people."

The report from the 2025 event was that every participating company secured a significant opportunity or deal as a result.

That is what the event is really about. You have a room full of industry participants, and founders have to clearly explain the problem, why their solution exists and how it solves a genuine pain point. Most of them did that very well.

Kasey McDonald (21:23)

I also watched the moment when you and Antonia released some of the key findings from the Proptech Pulse.

The survey included 146 Australian and New Zealand proptech leaders. Can you talk us through some of the findings?

Peter Schravemade (21:36)

Absolutely.

The findings lined up perfectly with the themes at LIFT, even though the speakers did not know the results beforehand. Only Antonia, the board members and I were across the findings.

It was remarkable how closely the speakers' content aligned with what the report found.

Forty-two per cent of respondents identified change management as a leading adoption barrier. That was exactly what the Queensland industry had recently experienced through the Realworks platform change.

These proptech companies were not responding specifically to Realworks and knew nothing about that transition when they completed the survey. Yet 42 per cent independently identified change management inside customer organisations as a major barrier.

Seventy-three per cent said they often or almost always need to integrate with a customer's existing systems to deliver value, but many also said they struggle to do so.

You and I have discussed this many times. Property professionals want everything to work together. They do not want to pull data from one system and manually load it into another.

The report shows that proptech companies understand that integration is necessary, but many are unable to connect to the platforms they need. There are several reasons for that, and I expect it will become an increasingly important industry conversation.

My belief is that in the age of generative AI, software will increasingly be expected to connect with other platforms by default. Products that cannot connect may struggle to remain relevant.

The biggest finding, however, was adoption.

Historically, the question for a proptech founder was, "Can we build this?" That was certainly the question when I was at BoxBrownie.com and across many other proptech businesses.

That question has largely disappeared. Building software has become much easier. The problem is no longer the build. The problem is getting the audience to adopt what has been built.

That requires much more focus.

It is not enough to employ a marketing team, use guerrilla tactics and put the product in front of property professionals. The industry is fatigued. People are not going to adopt a platform merely because a company spends heavily on marketing or puts a billboard beside a freeway.

Vendors need to spend time on adoption.

The report also shows that many companies are intensely focused on winning new customers while giving less attention to the customers already in their stable, the quality of onboarding and the causes of churn.

There are many lessons in the report, but they are positive. If we address these issues, we solve problems for property professionals and create better technology businesses.

I see the report as a win for both sides, and I hope it becomes a catalyst for meaningful change.

Kasey McDonald (25:29)

I work in the proptech space with a scale-up business, and adoption is often about education and awareness. People need to understand what the product can do and how it adds value.

But are proptech businesses also spending enough time understanding the genuine pain points inside the four walls of an agency?

There are many people who do not know what technology is available or what it can do. At the same time, are providers properly understanding what agencies actually need? Does that contribute to the lack of adoption?

Peter Schravemade (26:23)

Definitely. That is one of the things that separates good technology from bad technology.

A company has to understand its consumer. That may be the property professional, or it may ultimately be the property professional's customer, such as a seller, buyer, landlord or tenant.

Wherever the consumer sits, the business must understand the pain point and provide a practical solution with as few barriers to entry as possible.

The report also identified issues that arise after the contract has been signed, particularly the difficulty customers sometimes experience getting answers from their provider.

We have known about that problem for a while. There may be excellent sales and business development teams at the front, but once the signature is secured, has the business invested sufficiently in onboarding and customer care? Does it continue treating the client as valuable after the contract is signed?

These are important conversations.

International visitors also commented on the maturity of the discussion here and the focus on the consumer. Some of the Americans told me that this kind of conversation does not always happen in their market. Products can be built and taken straight to market without the same level of industry engagement.

They commended the focus in Australia and New Zealand on aligning technology with practitioners and regulation.

Ines Hegedus-Garcia has been particularly influential in this area. She challenges technology companies and says, "You cannot do that because it conflicts with this regulation." The REIQ and Antonia have also maintained that focus from the beginning.

Kasey McDonald (28:11)

From our experience working closely with agencies, another factor is that many businesses want the shiny new tool. It is exciting, and everyone wants to know what it will do.

Then it gets parked in the top drawer and the business does nothing with it.

Many organisations fail to appoint someone who will champion the system, lead the change-management process and take responsibility for implementation, training and adoption.

It becomes, "Let us buy it because it looks great," but nothing meaningful happens afterwards.

Those same businesses then say they have disconnected systems or that one platform does not work with another. Sometimes the real issue is that nobody took the time to understand how the systems work or how they can work together.

Peter Schravemade (29:09)

One of the strongest ideas written on the LIFT feedback forms was the concept of having someone responsible for technology within a property business.

It does not necessarily have to be one person responsible for every platform, but each system should have a champion.

Even having that dialogue is valuable. Businesses are recognising that there are actions they can take to improve adoption.

I was delighted with how the report came together. The data points towards real but fixable problems. That has always been the purpose of PropTech CoLab: independent research that drives useful industry conversations.

Kasey McDonald (29:56)

Let us move to the next story.

There has been a lot happening in the industry around sales prices and market activity. This is probably the first significant report I have seen specifically focused on Queensland.

InfoTrack reported that house transactions fell 38.9 per cent quarter-on-quarter, while unit sales fell 37.8 per cent.

The remaining activity appears to be concentrated around affordability. Buyers are still being patient, and we are beginning to see that behaviour in Queensland.

Peter Schravemade (30:48)

The numbers speak for themselves, but a lot of the coverage is presenting this as a market problem. I am not convinced that is the whole story.

We are in the middle of winter and school holidays, which are traditionally slower periods.

The market has also been affected by a significant lack of confidence following the federal budget.

The better question is whether the tax reform itself is creating this slowdown, or whether it is a broader response to uncertainty. My instinct is that general uncertainty is playing the larger role.

Kasey McDonald (31:36)

I agree.

People are asking what will happen when the tax reforms commence. That uncertainty is affecting confidence, particularly among investors.

Buyers are sitting back and thinking prices may fall, so perhaps they should wait and buy at a more affordable level.

The market has slowed because people are wondering what comes next and what tomorrow will look like.

Peter Schravemade (32:20)

One of the guest speakers at REIQ LIFT was Bank of Queensland Chief Economist Peter Munckton.

He said housing activity was already slowing and that higher interest rates would weigh heavily on the real estate sector.

At the same time, he argued Queensland was better positioned than several other states because of infrastructure investment, economic diversity and its large health-sector workforce.

He did not offer much encouragement to people expecting imminent rate cuts.

At the end of the day, we are still in a supply-and-demand market.

I am still in Brisbane, and I drove past a park filled with tents. While we debate whether housing prices are rising or falling, we still do not have enough homes for the people living in this state. Most states are facing a similar problem.

It is difficult to suggest that falling prices are automatically positive. Some first-home buyers purchased with a five per cent deposit and could potentially lose that equity.

I want housing to become more affordable, but while we still have insufficient supply, my instinct is that this may be a lull before another period of pressure.

It is hard to become excited about falling prices when you understand what is happening behind the scenes.

Kasey McDonald (34:01)

That brings us to the next story.

A 7NEWS report showed midweek open homes in Sydney attracting almost no buyer interest. The report described the Sydney market as "dead".

That is incredibly strong language. The concern is that areas that previously attracted substantial buyer activity have suddenly recorded almost no attendance at midweek inspections.

Agents in Sydney are understandably concerned.

Peter Schravemade (34:50)

There may be reasons for concern, but people not attending open homes is not, by itself, proof of a fundamental market change. It is more likely evidence of weak market confidence.

People have their hands in their pockets and do not want to take action at the moment.

Auction clearance rates are lower, but Sydney property is still selling. Prices are falling in some areas. The industry likes to use the word "softening" because it sounds better, but some prices are falling.

At the same time, Sydney rents are rising quickly. That is a significant problem for the Treasurer because the modelling suggested rents would fall, and that has not happened.

While people may be reluctant to buy following a major policy change, I think the lack of confidence could persist until the next election.

Kasey McDonald (36:26)

Possibly.

Peter Schravemade (36:27)

Consider the size of the decision.

If you were about to invest more than $1 million, and there was a possibility that the policy settings could change again after the next election, would you proceed immediately or wait to see what happened?

Kasey McDonald (36:51)

If I were spending that amount of money, I would probably wait and see.

Peter Schravemade (36:55)

The average Sydney purchase may involve significantly more than $1 million.

I am not an economist and cannot give financial advice, but my instinct is that several Australian markets are being affected by confidence.

If you were told one thing and something different happened, it would be natural to wait. It becomes difficult to trust the state of the market or understand where policy is heading.

We are seeing a lot of these stories nationally because property remains such a major topic.

Kasey McDonald (37:43)

The rental perspective is also important.

I mentioned in my session at LIFT that Cotality had released updated Brisbane rental figures that morning.

Over the previous 12 months, the median weekly rent for a Brisbane house had increased by about $44 to approximately $730.

A tenant looking for a house in Brisbane is now expected to pay around that amount at the median.

Think about a tenant who has been saving to buy. They may have believed the policy changes would help them enter the market. Now another $44 a week is being taken from their capacity to save.

Even if sale prices fall slightly, it remains extremely difficult for that tenant to accumulate a deposit.

I do not think this is what the Treasurer anticipated. The policy may be producing the opposite result.

Peter Schravemade (39:01)

I recently offered one of my tenants a two-year lease at the same rent.

Kasey McDonald (39:05)

Why did you choose that approach?

Peter Schravemade (39:10)

I could continue raising the rent, but I believe the amount they are paying is fair, and they are excellent tenants.

As an investor, I could earn more money, and interest rates may rise during that period. But I have a good tenant in place.

Providing certainty is likely to encourage them to continue treating the property with the respect it deserves.

I understand not every investor is in the same position. It is easier for me to make that decision because we purchased the house a long time ago.

But I feel for tenants. It is incredibly difficult at the moment, and I have two daughters facing the same market.

Kasey McDonald (40:08)

That is a useful example for property managers listening.

The job is incredibly challenging, particularly the conversations you are having at the moment.

The key is to understand each investor's goals and plans. Ask what they want from the investment and what it means to them.

Tools such as RP Data and PriceFinder show ownership tenure, so the property manager may already know that an investor has owned a property for 20 years and may have a lower mortgage balance.

That information can support a different conversation rather than automatically recommending the largest available rent increase.

Property managers should go deeper before deciding on a strategy. Ask the investor the right questions first.

Peter Schravemade (41:13)

My property manager fully supported the decision.

I would call it a concession rather than an investment strategy because the traditional strategy is to maximise the return from the property.

But the property manager agreed that it was fair and that the two-year term provided certainty. They communicated clearly to the tenant that the landlord was offering security, and the tenant had requested a longer lease.

That leads neatly into the next story about housing affordability.

Four Corners examined affordable-housing schemes where the discount from market rent can be relatively small, leaving the resulting rent unaffordable for the people the housing is intended to support.

The discussion included proposals that affordable rent should be capped at around 20 per cent of household income and that affordable status should remain attached to a building for its entire life.

Some of those ideas are difficult to implement.

The argument that government should directly fund housing rather than relying entirely on the private market is one I can support. We need more government and social housing.

There was also a suggestion that developers benefiting from planning uplift or public support should contribute more affordable supply. That is a difficult message for developers who are already struggling to make projects financially viable.

What does "affordable" actually mean if the tenant cannot afford to pay the rent?

Kasey McDonald (43:19)

Historically, the private sector has often used a ratio of around 30 per cent of household income when assessing rental affordability.

For subsidised or government-supported housing, a 20 per cent benchmark may be the argument being advanced.

The Four Corners tenant said the increase came as a shock. Her rent rose by around $80 a week.

My understanding is that the rent had remained relatively stable for a significant period and then increased sharply when the basis for calculating it changed.

That raises the importance of reviewing rents appropriately and communicating with tenants.

Even when an increase is legally available, housing providers and property managers should understand the impact it may have. Nobody wants a tenant to lose their home because a substantial increase arrived without warning.

We need more open dialogue.

Peter Schravemade (45:15)

Property managers listening will also understand that they owe duties to the landlord.

When an owner instructs the agency to increase rent, the property manager may have limited discretion. They can advise and discuss the consequences, but the final decision is generally not theirs.

This story is really asking whether we have created an affordable-housing system that is measured against an unaffordable private market rather than against what a tenant can genuinely pay.

That is a legitimate question.

My view is that we do not have enough public housing. That shortage pushes the entire system under pressure.

For an extended period, very little new public housing was delivered in Queensland, and I do not believe Queensland is unique. New South Wales, Victoria and other states face similar problems.

Every housing-affordability discussion seems to lead back to the same conclusion: we need more homes.

Kasey McDonald (46:42)

Agreed.

Government also needs to examine the land available across Australia, release appropriate sites and work with developers.

It must also consider what government itself can build rather than relying solely on private development.

Peter Schravemade (47:00)

The next article concerns Sydney rent increases, which we have largely covered.

The Daily Telegraph reported warnings that Sydney renters could face major rent rises as landlords react to tax reforms.

Is there anything else we need to add?

Kasey McDonald (47:20)

The key point is that a rent increase generally cannot simply be imposed in the middle of an existing fixed agreement.

The immediate pressure is more likely to affect tenancies approaching expiry or periodic tenancies, subject to the relevant state rules.

Some landlords are responding to uncertainty by saying, "Let us increase the rent now because we do not know what will happen."

That uncertainty is driving behaviour.

Peter Schravemade (48:07)

It is extremely difficult.

Peter Schravemade (48:12)

We also have a follow-up on the Queensland forms situation.

For anyone joining us for the first time, the REIQ transitioned the Realworks platform away from its former provider, Dynamic Methods, which operates Forms Live, to a new arrangement involving Land Services SA.

Over the past two weeks, we have heard from people who moved to Forms Live and were asking whether I knew anything about the legal standing of some of the contracts and forms available through that platform.

I am not a lawyer, and nothing said here is legal advice. I have only viewed a small number of the documents.

They are quite different from the REIQ contracts.

Earlier this week, I was forwarded an email from Forms Live advising users that it had made a series of changes to its Contract of Sale of Residential Property and Land.

The update included changes to building and pest conditions, deposit, finance and settlement fields, deferred settlement provisions, related-property conditions, smoke alarm provisions and other parts of the document.

The scale of those changes raises questions about what was available at launch and what review occurred before release.

To be clear, an update does not itself prove that an earlier contract was invalid. However, when substantive contractual provisions are changed soon after launch, it is reasonable for users to seek assurance about legal review, version control and the treatment of documents created under the earlier version.

I spoke to the REIQ. Its position was that it had not reviewed the Forms Live contracts and did not wish to comment on another provider's documents.

The REIQ also said that more than 91 per cent of Queensland users had remained with Realworks, which it regarded as a strong result.

That was broadly what I expected because the REIQ contracts have a long history of industry use, legal review and testing.

It appears that Dynamic Methods faced an enormous task in preparing a complete alternative forms library within a short timeframe. Imagine the volume of documents on the Realworks platform and the work required for a law firm to recreate alternatives quickly.

That does not remove the need for quality assurance, but it provides context for how difficult the task would have been.

At this stage, the market appears to have spoken strongly in favour of Realworks.

I would appreciate hearing from people who are actively using the Forms Live contracts and are prepared to share their experience.

The email itself was concerning because it effectively said, "You spoke, we listened," before listing a series of changes to contractual terms. Those are not merely cosmetic adjustments.

Forms Live is entitled to compete in the market, and I fully support its right to do so. But users need confidence that the legal documents they rely upon are complete, current and properly reviewed.

Kasey McDonald (52:56)

At LIFT, I heard many positive comments about Realworks.

People acknowledged that change management was difficult and that there were issues during the transition. Antonia and the REIQ have not shied away from that.

But practitioners also said they were confident they were using the correct forms and conditions.

They appreciated that updates and improvements were made during the first week and that legislative changes were being incorporated.

Several people said they were uncertain whether those updates would have occurred in the same way had they moved to Forms Live.

The feedback I heard at the event was overwhelmingly positive about the decision to remain with Realworks.

Peter Schravemade (53:46)

The Realworks team was also at LIFT answering questions about integrations and the transition.

I think the REIQ has managed a very difficult change well. It acknowledged faults, apologised where appropriate, continued improving the system and moved forward.

We should probably leave the Queensland forms situation there because I am sure the rest of the country does not want to hear about it every week.

Let us finish with a positive industry story.

Kasey forwarded an Elite Agent article about Peter Diamantidis of Ray White United Group.

He has developed an incentive program for his property management team based partly on the cost of losing and replacing employees.

We have spoken before about the true cost of staff turnover. The article used a recruitment cost of around $20,000 each time a burnt-out employee needs to be replaced. Other estimates can be much higher once recruitment, onboarding, training and lost productivity are included.

Peter's argument is that spending roughly $50,000 on an overseas team trip can make more sense than repeatedly paying to replace good people.

The program is designed to create a happier office, improve culture and strengthen retention.

The business reportedly now brings in more than 1,000 organic managements a year and has strong staff retention.

It is a different and proactive way of looking at the issue. I wish the agencies I worked in had taken us overseas.

Kasey McDonald (56:08)

Definitely.

I spoke briefly with Peter last night. He is currently overseas taking a break, but he would love to come onto the podcast in a few weeks when he returns.

It will be valuable to hear him explain the program, the impact it has had and what the business looked like before and after its introduction.

The important point is that property managers often watch salespeople receive these kinds of rewards.

Salespeople reach platinum or diamond levels, earn top GCI and receive trips, incentives and recognition.

Meanwhile, property managers may be responsible for millions of dollars in assets and for the recurring income that ultimately allows a principal to retire. Sometimes that contribution is overlooked.

I like that Peter has considered the actual cost of staff turnover, looked at how to improve retention and asked what will make good people feel recognised.

Not everyone wants the same reward, but he has developed measurable KPIs and a program intended to motivate the team.

I am looking forward to having him on the show to explain how he built the framework, what the staff think and why he chose to include it in his property management strategy.

Peter Schravemade (57:59)

I love the idea and the fact that he is thinking proactively.

Rather than waiting for a staff revolt, multiple resignations or a situation where two people are doing the work of five, he is investing in retention before the damage occurs.

Property managers are under enormous strain, so it is an excellent concept and a positive industry story.

For anyone listening who owns a rent roll, it may be a useful prompt to think differently about how the people maintaining that asset are recognised.

It is also a good story on which to finish.

Kasey, we have had several positives this week: a strong conference, a report I am proud of, and new proptech companies being introduced to the industry.

It has felt like a positive week for the real estate community. What are your final thoughts?

Kasey McDonald (58:48)

I agree.

It was a great conference, and the people there were energised and positive.

The AI conversation focused on how we use it well. It is not necessarily replacing people in their roles. The challenge is to understand what it is, where it adds value and how to use it properly.

How can it reduce administration so we have more time for meaningful conversations and stronger relationships?

Real estate remains a relationship industry, and sometimes we forget that.

Affordable housing, falling or softening markets and political policy will remain part of the conversation while these changes continue.

Overall, though, it has been a very good week.

I am also excited to have Peter Diamantidis on the show in the coming weeks. Regardless of the size of a principal's rent roll, I think there will be useful lessons in why he implemented the program and what it has achieved.

Peter Schravemade (1:00:21)

A big thank you to Cain Cooke for giving us his time at the REIQ LIFT conference.

We may invite Cain back in the coming weeks and continue that conversation.

If you have a story, or if there is a guest you think we should interview, we would appreciate an introduction or a lead.

That is particularly true for listeners in other states. We attend many Queensland events and do not want the show to become too Queensland-focused. Let us know what is happening in your market and what we may be missing.

Feedback is welcome too. You can send it to Kasey because I do not want to hear it.

I am joking. Send it to hello@beforetheweekend.com.

You can now listen to Before the Weekend on all the major streaming services.

Thank you for listening to one experienced gentleman and one senior, experienced property professional discuss the issues that mattered this week.

Whatever part of the property industry you are working in this weekend, whether you are selling, leasing or supporting the profession in another way, we wish you a successful weekend.

Thanks again for listening to Before the Weekend.

Kasey McDonald (1:01:49)

Thanks, everyone. Have a fantastic weekend.

That is a wrap on Before the Weekend.