Realworks, LIFT and Market Confidence

Corrected transcript, light edit Before the Weekend, Episode 9 Recorded: 10 July 2026

Note: This is a light correction of names, brands, acronyms and obvious transcription errors. Natural speech patterns and conversational flow have largely been retained.

Kasey McDonald (00:07) Welcome to Before the Weekend, your go-to real estate podcast, where we cut through the noise and deliver what truly matters. And I'm Kasey McDonald and with me this morning is my amazing co-host, Peter Schravemade. How are we, Pete?

Antonia Mercorella (00:08) Well

Peter Schravemade (00:22) I'm really good, Kasey. Good to see you here this morning. it's another Friday in Paradise, Queensland, and I'm I'm excited. We've got a big weekend and a big week ahead. It's all happening, really.

Kasey McDonald (00:27) It is.

Yeah, absolutely. I'm actually really excited for our guest this morning. We have the REIQ CEO Antonia Mercorella joining us. Of course, talking through Realworks, Forms Transition, the LIFT Conference, Top of the Props, PropTech Pulse. We've got lots to cover with her. So how about we invite her in?

Peter Schravemade (00:53) Yeah, that'd be great. Antonia, welcome to Before the Weekend. You're no you're no stranger to this. This is your third appearance, if I'm not mistaken.

Antonia Mercorella (01:01) Morning. Third time lucky maybe.

Kasey McDonald (01:03) Yeah.

Peter Schravemade (01:03) Yeah

what what you didn't like the other two? That were that's

Antonia Mercorella (01:06) you practice

one so I might actually get it right today.

Peter Schravemade (01:10) Yeah, right,

Kasey McDonald (01:10) Ha ha ha.

Peter Schravemade (01:10) yeah,

right. I don't think speaking publicly or to a camera is outside of your remit. It's me, I might be doing that a little bit. Now, I'm I'm delighted to have you on the show this morning because as I think all of us are aware, being well the two of us are are purebred Queenslanders, and then we have one ring-in from South Australia who I think is now a Queenslander. I think you've earned your stripes there.

Antonia Mercorella (01:18) I know.

Kasey McDonald (01:19) Yeah.

Peter Schravemade (01:39) not only did we lose the football on the weekend, but there's been a lot of on during the week, but w there's been a lot of noise about this issue of forms. And so I thought we'd get you on to ha to clear things up and have a bit of a discussion about that. How are you feeling after is it is it a week and a bit of launch, ten days since we went live? how's real how how are the how are the REIQ staff travelling?

Antonia Mercorella (01:57) J just starting.

Yeah, it's been just over a week. We launched on Tuesday the thirtieth. And look, safe to say that it you know, I don't think anyone would characterise it as being a an ideal way to launch a product. And we knew that was going to be the case. Obviously, launching on the 30 June, end of financial year, a day before AML laws. And and of course, not only was the timing of the launch pretty

Pretty lousy. there's no other way to characterise it. I think also because of some of the contract contractual constraints around us, we weren't able to do all of the things you would expect us to do to run a successful launch. And those are things like giving lots and lots of forewarning, putting putting out a product in market to test, all of those things you would expect. and I've said this a few times now, but

y you know, and there's a contract that it it has now ended but has enduring provisions and being a boring lawyer that I am, we like to follow we like to follow contractual requirements. So you know the I think the reality is Pete and Kasey people people aren't that interested in the why. they're just frustrated and I understand that. So

Peter Schravemade (03:25) Mm. Yep.

Kasey McDonald (03:26) Mm-hmm.

Antonia Mercorella (03:27) I'm providing that by way of context because there has been a lot of noise around why on that day, why didn't you let us test it first? so it's really just to provide some context. Yeah.

Peter Schravemade (03:36) Well c can I can I well can I just clear that up? So you had

you had that contractual obligation that prevented you testing the a new product in the market and even talking about it, is that correct?

Antonia Mercorella (03:50) Yeah, so basically b because of the contract we were in, again, without going into specifics, we weren't able to put out a a competing product. we weren't able to go out and talk about the fact we were going to be putting out and when I say a new product, just to be really clear, the forms are the same, but what did change is the tech platform we use to deliver the forms. So effectively the software.

So, because of the licensing agreement we were in, there were a bunch of different contractual constraints that made it very difficult for us to come out and talk about it, to put it out for people to test. and so that's that's been incredibly challenging. And and look, again, as I keep saying, I don't want to make it at the end of the day, what what I know that real estate agents want is to be able to wake up.

And produce their forms. That's all they're really interested in, right? And it's a challenging time for real estate agents at the moment. So, you know, for me, it was as the peak body, we spend all of our time fighting for for the real estate community. And our main objective is to act in their best interests and to make sure that we keep them compliant and professional. So, you know, this launch for us was a tough one because

the last thing we want to do is add to the woes o of real estate agents or to make life harder for them. But what I will say is that and I'm not going to shy away. Obviously there's been a lot of chatter online. I've spoken to I couldn't even tell you how many people I've how many users I've spoken to. The team here at the REIQ have fielded literally thousands of calls and tickets. but what I will say is acknowledging

the immense frustration that existed around the way we had to launch, I've been overwhelmed by the support. we've got something like I'm it's around 95% of all of our agencies are are back on, which is pretty extraordinary in just over a week. and also what's been really fabulous is that people have said, hey, the way you went about launching wasn't ideal, but actually

we understand the rationale behind what you're doing. So when we when we explain the reasons for the shift, our users have been extraordinarily loyal. and so you know, there's definitely some people out there who are still aggrieved and frustrated and I acknowledge that. and but but but on the whole, it's been overwhelming to see to see how supportive the real estate community up here have been.

Peter Schravemade (06:40) Can I there's there's a couple of frustration points. You've covered two of them in there, why nobody knew about this in the lead up and why you couldn't go to market earlier to prepare people for the fact that this was coming. I understand those. a a contract is a contract. We're all we've all been in the profession. We we've signed them fairly frequently, so that's there. One of the other frustrations which you've touched on, I just want to make sure is is resolved now.

was a lot of people were saying to me, you know, the biggest issue is we don't have access to the templates and the data from from previous. Now, has has that been provided, is that loaded back into Realworks and are people able to access it?

Antonia Mercorella (07:14) Yeah.

Yeah, yeah, absolutely. That's been such a a critical issue as we knew it would be. I'm really pleased to report that yeah, we are absolutely I'm I'm we are confidently resolving that. So we've already started to return data. We had a list of priorities, agents who had reached out with very urgent requirements. we've already returned those historical forms and data to those to those particular agents.

And now we're working through returning it to the balance of of the users. So we said we would be in a position to get that back to everyone by mid July and and we'll follow through on that commitment absolutely.

Peter Schravemade (08:02) Okay, so

mid j mid July, but if there is if if there's something they need urgently, they can contact the REIQ and we can triage that forward, right?

Antonia Mercorella (08:09) Yeah.

Absolutely. Yeah. And we and we're continuing to do that. We're every day we'll get some agents saying I need access for for urgent requirements, which we totally understand. So we're working through that. So that I think once we get that back to everyone, I think that's going to alleviate a major, major you know, the the most prominent issue that we've faced, without a doubt. And and understandably so, people want their data back and their forms.

Peter Schravemade (08:37) Quick

follow up question on that. Was that an issue that was foreseeable to the REIQ before the changeover?

Antonia Mercorella (08:46) Yes, absolutely. So to be very clear, we knew that that data belonged to us. So so to be clear, what I can say, without committing any contractual breaches, is that that data was always ours and the customers in Realworks have an agreement with us, the contractors between REIQ and the user. And so

We've always had very clear provisions around that so that we can give that back to the customer where it belongs. But what I will say without going into specific details is that we encountered some issues in relation to in relation to the return of that data. but we have been making our way through that and navigating our way through that and it's probably

All I can say about it publicly.

Peter Schravemade (09:46) Okay. Well, moving on, like I mean, th I am aware that there are people listening to this and I've I've had conversations with some of them who are incredibly frustrated and I'm I'm hoping I'm hoping that they at least understand some of the constraints around it. I know it's not easy. I can't imagine what it's been like to run a property management division without access to some of the forms, templates, drafts that they've had. And I and I've I've heard you multiple times on social media.

Antonia Mercorella (10:03) Yeah.

Peter Schravemade (10:14) apologize for the way it it is unfolding and what is out there. but I from what I'm hearing from what you're saying we're back on we're we're getting to a stage where things should return to where they are. have you got have you had any feedback about the user interface or the user experience with the new software provider?

Antonia Mercorella (10:38) With the no. Well, look, obviously I'm assuming you're referring to so our former software provider is now a competitor of ours. I'm gonna be honest and say I honestly, whether whether your listeners and viewers believe me or not, hand on heart, I've not looked at it.

Peter Schravemade (10:58) No,

no, no. The question the question wasn't about forms live or dynamic methods. The question was about your y the w the incoming software company. Have you had any feedback about the user interface and user experience there?

Antonia Mercorella (11:01) Yeah. Right.

Right. I see. I beg your pardon. yeah, look, so what I'd say is I think so so there's a few parts to that. let me start with on the positive, I think once we talk people through how to use it, it's pr it's pretty simple. we were very clear with our current provider, keep it keep it simple. Real estate agents just want to be able to get in, complete a Form 6 easily, complete a contract easily, and just keep tracking.

I think on that side, once people understand how to use it, I think it's it's working well. The core product works really well. we've definitely had some bugs and issues that we've had to work our way through. And for full transparency, there's still a a range of issues that we're aware of that we're working through to continue to improve it, as you would expect, given we only launched just over a week ago. with integrations.

that has been that's probably been one of the toughest things. there's again we've we launched with three of the major CRMs, few little bugs here and there. There's still some bugs we're working through in respect of one of the PM CRMs, and I'm really pleased to say that as we're as we're filming this, there's about four other CRMs that we're working with to integrate with.

so so and that should be easier because we can we're out in the open now, we can we can test more freely, but the integration issue has been definitely a tough one, no doubt about it. but what I would say is we've been working really well with the CRMs to resolve that. What I love about real estate agents is they're not backwards and coming forwards. So you know, it's not like they're it's not like they're not speaking up, they're letting us know where the issues are, where the bugs are.

Peter Schravemade (12:57) Yeah.

Antonia Mercorella (13:05) And and we're we're working furiously to restore all of that so that y you know, because I mean the thing about forms is that and I've always said this, you can't overcomplicate forms. It needs to be it needs to be simple. The tech can be great in the background, but at the end of the day, real estate agents are just they want to get in there, it's it's it's it's it's how they transact.

And they just want it to be simple and easy few steps. So, with a couple of the integrations, what's happened is there's extra steps you need to take, that adds extra time. and so that's causing some frustrations. We've managed to make our way through the majority of those. There's one remaining CRM that we've still got some work to do, and that particular CRM is working really closely with us because they understand we both understand.

that they're mutual customers of ours that we need to do better. Yeah. Yeah. Yes.

Peter Schravemade (14:00) The urgency. Yep. Gotcha.

Kasey McDonald (14:04) Antonia, just a question from me.

What what would you encourage that, you know, any of the principals listening this morning, what should they be really checking inside of their business? and I guess there's probably, you know, two questions as a part of this. You know, look it's looking at that historical piece as well. Cause I think last week Pete and I were talking about how we kind of went from a not so much digital world and a reliance on digital before COVID. Now we've come incredibly reliant.

And then in making this transition, of course, there's frustrations because they couldn't access particular things. So I'd love to kind of get, you know, your thoughts and feedback on what you think principals should be really checking inside of their business.

Antonia Mercorella (14:38) Yeah.

Yeah, good good question. I think and and actually part of what this new platform is about is to put power back in the hands of the real estate principal. but that's a that's a pretty deep conversation. I don't know that we have time for it. But look, what I would say is we've always known that the forms platform I see it as being the backbone of the business.

Kasey McDonald (14:58) Mm-hmm. Mm-hmm.

Antonia Mercorella (15:10) that's where you go to to every real estate transaction starts with a Form 6. So that's why I am disappointed that we let our users down with the way we had to roll this out. So I think so. I think you know, I just wanted to preface what I'm about to say by acknowledging that. So I would say using a solid, robust forms platform is is probably the number one critical thing for a business owner.

and that's about using a software w that's about using a form system that has great IT security and cybersecurity because that is such an important issue for all real estate businesses in in this era. But also using forms that have been tested in court, that are developed with real estate agents in mind.

Acknowledging that there are some documents in the real estate landscape that are prescribed documents where you could go and get them free of charge off the RTA website, for instance. but but you know, using forms that have been developed specifically for agents that have got those terms and conditions and schedules that recognize bespoke activities. And so, you know, I'm I'm speaking there clearly about the fact that I believe that forms platform.

the you know the most reliable and and I'm just gonna be honest and say from my perspective the best forms platform in Queensland is ours and the reason I say that and that's not to be arrogant I say that because we have over 350 forms and last night we released a new form in our PM suite and we do that by working with the real estate community. We say to them tell us what you need

we will develop a form to meet that need. we work really closely with regulators, Office of Fair Trading, RTA, the likes of the Privacy Commissioner, the ACCC, etc. etc. So a good reliable forms platform is absolutely critical. The next thing I'd say about that is you've got to be really careful about the way you're letting your team use that platform. So I think again.

thinking very carefully about the power you're giving to your team when you give access to that forms platform. So making sure you have good a good oversight about the way you're using it, about password security, about how you're going to make sure you secure your business because the reality is is that in real estate people move around and I couldn't tell you how many times I've heard of a situation where a person leaves a real estate business

And takes the database with them or thinks that the Form 6 belongs to them and not to the agency. So really making sure you've got those sorts of things locked down, I think, are really important. And then I think what's also important is you've got all of these different tech platforms out there and they absolutely help a real estate business. But equally, I think we've really got to make sure that we're educating real estate agents and that real estate principals

Also, are aware of how they can control their own destiny. And what I mean by that is you want to make sure that you've got your business running in a way that if if you make a decision that you do want to change, for instance, a CRM or if you want to insert some new tech into your business, you're able to do that. I see a lot of real estate businesses who get themselves locked into a situation where they feel a little bit trapped and something comes along that they'd like to try, but

They don't necessarily have the skills to do that. They don't have the IT know-how. So I'm not discouraging people from using tech. On the contrary, and Pete, you and I work closely on with the proptech community. I think there's some great technology out there, but it's really about understanding how you can use that technology to aid your business, but but building it in a way that you don't become trapped and controlled by it.

And also building it in building your tech landscape in a way that allows you to actually try all other things and be more flexible. And and I'm not pretending that I'm that tech guru, but but really understanding you that you probably need some expertise in that space so that you can get better at doing that. Because I think flexibility is key. I'll give you an example of what I'm talking about.

Something like AML. You know, we're just at the we're just at the beginning of the AML journey. It only those laws only just started on the first of July. There are a bunch of real estate agents that locked themselves into an AML provider really early on. And and that's okay, you had to pick one. But then as time marches on, what we're seeing is that agents are wanting greater flexibility because because they want to be able to perhaps change or trial someone else. So

I think just just understanding that you probably historically have not needed to have in a real estate business someone who is focused just on tech and I guess IT architecture. and I think that's becoming increasingly important.

Peter Schravemade (20:34) Yeah, we're seeing we're seeing a lot of that. I last week I separated the two issues. Like there's a software provider for forms and there are the forms themselves. And I've fielded a lot of calls from principals in the last ten days who are I think becoming more aware of how important it is to get the secondary part of that right. over the first, like you can change a software provider, but if the forms are actually

Antonia Mercorella (20:42) Yeah.

Peter Schravemade (21:03) you know, not what they appear to be or don't allow you to do your business in the way that you wish to be transacting your business, then yeah, they that is a huge blocker, like has gotten in could potentially get in the way of sales, could potentially get in the way of you earning your commission if if if your forms aren't in order. So you know, I I would be urging anyone out there who is using forms today to understand the serious nature of having

correct correct forms. I'd be checking out any that you are you are moving to because there are a lot of people in the industry who are uncomfortable at the moment with the direction that they've been given and some of it's been handed down from franchise bodies. So at the end of the day, I assume that as in your position, your CEO of a membership body, you don't want to see any of the agents in positions where they're not getting paid for the job that they've done or

Kasey McDonald (21:41) Mm.

Yeah.

Peter Schravemade (22:01) they're not in positions where yeah l let's say a form stands in the way of them executing as a professional.

Antonia Mercorella (22:09) Yeah, it's it it it's it's yeah, I'm very conscious that when I respond to this, I may sound like I'm responding out of self-interest given that we do put out a Forms platform. But y you know, the interesting thing about the REIQ is we wear so many multiple hats, but at the end of the day, our main role is to be the peak body. So I am absolutely always interested in making sure

That real estate agents remain compliant. So when it comes to forms, I absolutely, wearing my peak body hat, think it's critical that you are using compliant forms that meet the statutory requirements and that obviously ensure you're able to get paid at the end of the day. Get yeah, get your commission, as well as getting back your lawful entitlement to reimbursement for costs and expenses. So that's absolutely

fundamentally important. And it's it's a bit analogous to our situation. We're an RTO, we're a registered training organization. we have the same issue in that space. We've got lots and lots of RTO competitors, and they're entitled to come and compete. But but the difference with us is we're an RTO, but we're also the peak body. So it's not transactional for us. Sure, that there's a fee in exchange for the course. I'm not saying there's not, but we actually want.

To educate people to a certain standard and we want them to be successful and professional when they enter into the profession. So, you know, sometimes we do have to kind of walk this tight right rope because yes, we run we run a series of businesses here at the REIQ because we need to keep our doors open so we can keep being the peak body and doing advocacy work, but but but we're genuinely interested in in the best interests of the people that we represent.

so, so the you know, we're always going to be we're always going to be wanting to ensure that agents are using good compliant forms because at the end of the day, I'm the one sitting in the room with the regulator when when the you know what hits the fan. You know, we're the ones we're the ones who are defending the real estate community when when things turn pear-shaped.

Peter Schravemade (24:17) Mm.

Now let's let's move on 'cause I'm conscious that we have not much time with you. You you're off to other engagements. Kasey, what are we doing this week? We're we're all catching up, all three of us.

Kasey McDonald (24:36) Well

we are actually really excited. I think it was a nice segue, actually, you said around the training piece and the other parts that you provide, actually, Antonia, for our industry. And of course, that next week is the LIFT conference. And you know, I think it's come at a really important time, right? I think we've covered a lot this morning. There's lots of change, there's AML, there's TIDA compliance, there's nervousness in the market, right, about what's going on now. for for I guess more probably that selling point.

Antonia Mercorella (24:38) It is.

Peter Schravemade (24:42) Yeah. Yeah.

Antonia Mercorella (24:45) Yes. I mean I think it's cool for it.

Hmm.

Kasey McDonald (25:04) Then I also saw an article actually last night about in a particular area in in a week, our housing rental prices have gone up $200. so which is kind of scary, right, for the consumer as well. So talk us through LIFT. What how did it start?

Antonia Mercorella (25:20) Yeah, so LIFT, the inaugural LIFT was last year, but but this is this is kind of LIFT version two, if you like. LIFT version two. And it's so so we've always been committed to putting on great quality real estate conferences. and and this is that, it's two days, but obviously we have a really close relationship with the REACH team. I've been a mentor of the REACH team for a long time.

Kasey McDonald (25:27) Live version two, yeah, okay. Mm-hmm.

Antonia Mercorella (25:49) and then of course we've got PropTech PropTech Colab as well happening. and so Pete and I were having a conversation about the fact that Reach does all of this work with the PropTech community that we get involved in, but we're putting on different events. And so we decided to come together to produce LIFT. So it this is an event that's a collaboration between REIQ and REACH.

And so it's got a big tech component because what we know, as we've been talking about this morning, is that tech is playing such an important role now in in in the business that is real estate. But real estate agents still feel quite afraid of technology, they're not sure about how to use it. We want to be sure that they're using it in a compliant and legal way. Pete, you and I recently had a conversation about putting out

bit of a best practice toolkit around this stuff because you know the media's jumping all over this when it goes when it goes wrong. So LIFT this year is really about two days where real estate agents can come in. There's a lot of bespoke kind of you can go it's a bit of a build your own program to some extent depending on the sector you're from there's lots of different breakouts you can go to

Kasey McDonald (27:09) Mm-hmm.

Antonia Mercorella (27:14) We've got some amazing main stage speaker with a bunch of extraordinary people coming over from the US. And then obviously there's what you would expect at an REIQ conference. There's plenty in there around compliance and legal issues. But throughout the whole two days, we've also got this extraordinary tech stage that's happening the whole time, where we've got an array of proptech speakers.

And and different speakers that touch on topics relating to technology. So it's really about bringing the two together rather than saying here's a here's a real estate tech conference and here's a real estate conference, let's bring them together. And it's about trying to kind of break down the fear around technology and also really importantly getting the proptech community to talk directly with the real estate community because

Kasey McDonald (28:07) Mm-hmm.

Antonia Mercorella (28:08) One of the big issues we talk a lot about is that the proptech community will sometimes go away and build tech convinced that there's a problem they need to solve. and maybe that is a problem that needs to be solved, but it's not always the case. But also you can't be building tech for people without involving the people that are going to be using that tech. and so that's that's ultimately I guess the

That that's the motivation for for the way that we've put LIFT together this year. Yeah.

Kasey McDonald (28:38) Yeah, great.

Peter Schravemade (28:38) Yeah.

And and from our perspective, you know, the proptech community's always been interested in working alongside the industry. It's just really it's really difficult because a lot of the real estate institutes rightly have a focus on on all of the membership, you know, any kind of lobbying government and whatever else and it i you know, it's be it's difficult. Sometimes when we walk into a real estate institute and say, We've got this technology, it's difficult to get

care there. But I'm seeing that change across the board. I'm seeing that not just here in Queensland. I'm seeing the work that Jacob Kane, Kane Cook, Toby, to it to an extent, Tim. I know West Australia are committed to it and we're we're getting the ACT turning up for this. so, you know, w from our perspective, we're working really, really hard to try and get the right kind of tech at the right time for the industry. And one of the holes that I think we discussed is that you the

It's a symbiotic relationship. It does one doesn't work without the other. And we're really, really proud of what we're building here in Queensland, the link between the two and the enormous respect that the REIQ have for incoming tech and the way that you handle it through a vetting process and whatever else. So we've been delighted with that. And can I just say the whole idea of LIFT is for application, like we have

Antonia Mercorella (29:41) Yeah.

Peter Schravemade (30:05) news readers who are going to give tips on piece to camera. We have a a drone racing team who are going to give you tips on how to record. You know, that there are some really exciting and cool things. I mean Kasey will be there as well. She's exciting too. So

Antonia Mercorella (30:06) Yeah.

Kasey McDonald (30:22) I was absolutely I was waiting for the dig. Yeah. Yeah. But that's what I was going to say. Like myself in reading the agenda, what I what really stood out to me, and I think what's a a great you know, piece of work that the two of you, as in your two bodies, coming together to put this event on for the industry, is exactly that, is that everything that was within the agenda is going to allow those in attendance to walk away with.

Not just a notepad of, yeah, great. That's what that person spoke about, but real tips, like real advice and something they can tangibly go back and implement on the same day if they chose to do that. So that's definitely what I picked up in reading the agenda. So well done to the two of you and pulling pulling that together.

Antonia Mercorella (30:55) We're having a

Yeah, I'm I'm actually really excited. It's it's funny. I I actually looked at the agenda the other day. I'm I'm not I mean, it's it's obviously we knew we know what's gonna be in there, but you y you know, you're furiously putting together this agenda and then you kind of step back from it and then having gone back in there the other day, I I felt the same way, Kasey. I went, This is a really great agenda, like just such a mixed bag of i you know, of of so many things. So I

Peter Schravemade (31:06) And yeah.

Antonia Mercorella (31:35) It I think it's a pretty unique conference. I'm feeling really proud of it. you know, Pete Pete Pete was sort of the courageous one on this one. and Yeah, well, you know, yeah. But you know, because conferences are are hard work. Anyone who puts a real estate conference on will tell you that. And there's a lot of noise in this space, lots and lots of conferences. But I d I do think that this one is is is rather

Kasey McDonald (31:37) Mm-hmm.

God, don't give him any more compliments.

Mm-hmm.

Antonia Mercorella (32:03) it's just it's just it's different, I think, to what else is out there.

Kasey McDonald (32:06) Mm-hmm. Yeah.

I love the fact that they can create their own pathway across those two days, depending on on you know who what your role is in the business, but more importantly, where you think you're you're at in your own self-learning and what is of interest to you to learn more about. It doesn't mean that just because you're in a particular role now, you may be a property manager, but you may have aspirations to be a leader, to, to step into sales at some point.

Antonia Mercorella (32:12) Yeah.

Kasey McDonald (32:31) So for anyone listening, I'd actually would encourage you to kind of also step out of your comfort zone at the event next week and go and listen to something different that you haven't before because I'm I definitely know you'll learn something.

Peter Schravemade (32:44) Nearly nearly forty speakers. Last time I looked, over fifty tech vendors. It's as far as as far as I'm concerned, I think it's it's the biggest from that perspective. I haven't been to a conference where I've seen that many tech vendors or that many speakers. So I'm confident. And and here's here's the thing that I'd throw at you. if you're a a real estate agent serious about getting your business in order, this is the conference for you. Like we're

Antonia Mercorella (32:47) Yeah. Yeah.

Peter Schravemade (33:10) We're this is all about the operational real estate agents who, you know, are about to enter what I think is a bit of a difficult time selling. And this would be the way. Take two days out of your time to gear yourself up and get ready. but Antonia, we are out of time with you. I know you're a vi very busy lady. Can I thank you again for coming on Before the Weekend podcast? We'll see you Tuesday or something like that. Right? No. All right, thank

Antonia Mercorella (33:34) Yep, if not before. Thanks, Pete. Thanks for having me. Have a great weekend.

Kasey McDonald (33:36) Yeah, thank you so much. Have a fantastic

Friday.

Peter Schravemade (33:40) See you later.

Kasey McDonald (33:42) also as a part or at the conclusion of the LIFT conference, we've also got something f really, really exciting. And I saw that we well you have announced your finalist of

top of the props. so you've got, is it five, five or six finalists? Six, six finalists. Yep. Yeah.

Peter Schravemade (33:59) Six, I think. Yeah, there's six finals. One, two, three, four, five, six. Yeah. So ever every year

we run this pitch battle. It's to try and unearth new, new or emerging technology, maybe technology that real estate agents or those in the property industry haven't heard. And this year we've got six Crayons CRM Dwella is there, Homesnoop, ParkBooker, RealZilla, and Recruit RE. And th there's three on that list that I was peripherally aware of. Two one, one of them, I think.

Kasey McDonald (34:06) Okay.

Peter Schravemade (34:28) but there's some really interesting technology in there and it's completely diverse. None of it's in the same category. But what this does is it's kind of like a the pitch battle is a as is a time thing. So they've got less than four minutes to pitch at you. If they go over four, they get they get cut off. And they did get cut off last year. Two of them got cut off. So it is it is high pressure. It's really difficult to pitch your product in under four minutes. they get to use obviously a presenter, a slideshow presentation and do that.

Kasey McDonald (34:32) Mm-hmm.

Right.

Peter Schravemade (34:56) And then there's four independent judges who who picked them. So even though this is a Reach Australia and New Zealand event, we're pretty big on on having people that aren't attached to us do the judging. So we've got Antonia, we've got Ines Hegedus-Garcia, and she's coming from Miami, we've got Ash or Callum Ashton is his actual name, but Ash is like the legend over in WA who wrangles all the proptech from from there.

and we have Peter who is another Peter who is in runs another accelerator representing the venture capital world. So we've tried to incorporate a wide range of independent judges and they will judge that. But I think the vitally important thing is the PropTech Colab that we didn't get a time to talk to talk about with Antonia. We've set up an independent research or think tank and we've got the survey results back and we've put that into a white paper which talks about

The future of proptech in Australia. And importantly, you know, the takeaway for any of the property professionals is how we are looking at at moving forward as an industry, the state of the proptech market gives them also some clarity in going in, selecting providers as to what do we do and how do we do it. So excited about that. I know there are tickets available for both. So both the REIQ lift and top of the props, you can get.

the tickets for REIQ lift from reiqlift.com and topoftheprops.com.au. They're they're both available on there and we'd love to see you if you get a chance. I think you might be coming down or maybe not. I don't know. We'll we'll see.

Kasey McDonald (36:31) Yeah. Yeah.

with that, with the Pulse report, how can people get a copy of that?

Peter Schravemade (36:37) Yeah, that'll be released at proptechcolab.com. and that'll be released at midnight after this. So that available from there and it's free. you just have to put your name and an email address in so it can send you the link and you can download it. But that information's free. it's currently sitting at thirty-one pages, so a great bedtime reading. It'll put you to sleep. But yeah, you know, there you can download that digitally. We'll try and have some hard copies there available. But yeah, if you if you're not able to get to Brisbane

Kasey McDonald (36:57) Mm-hmm.

Peter Schravemade (37:07) for next, well, the fifteenth, whatever day that is. yeah, by all means download it. We've done this free. we've put this together. Antonia and I worked really hard on getting these findings out, getting the survey respondents in and getting the findings out as a free offering to the industry.

Kasey McDonald (37:25) Mm-hmm. Yeah, great. No, really looking forward to it. and I and we've spoken before the fact that you don't need to be a tech provider to just come along to top of the props. You, you know, it's also about showcasing what technology is out there. So those within the industry working at the coal face, you make sure you jump online and grab a ticket and be there because you get to see what's up and coming, but you also get to network with those other suppliers that are also there and learn about what they've got to offer as well.

Peter Schravemade (37:52) Yep. Let's move on. Lot of lot of Queensland noise this week. So we should move to other news blocks. And we've got governments saying they want affordability, but taxes, charges, delays, and compliance costs are embedded in the price of new housing. We've discussed new housing quite a bit. There's an article out where Noel Whittaker's piece ar argues that we're talking about landlords, negative gearing and greedy investors, but we don't talk enough about the cost that governments have built into housing. And actually in this article

Kasey McDonald (37:57) Mm-hmm.

Mm-hmm.

Peter Schravemade (38:21) Which I'll put in the I'll put in the notes or the transcript at the bottom of the transcript. It talks about the huge amount of government charges he's gone through and listed all the charges involved in in in building a house and it is insane. It is absolutely insane. So or what are your thoughts?

Kasey McDonald (38:41) Well I just I think every single time exactly, right? But it's like every single time we kinda, you know, lean into a topic and talk about anything that the government's brought into place, it just seems to be that there's all these hidden aspects to it. It's like they're just sharing this, you know, little aspect and then you dive deeper and there's either an additional cost or there's a new no, that actually meant that, right? So it's not like we're getting all of the right information. But yeah, I just I still just don't

Peter Schravemade (38:44) Take them all out.

Kasey McDonald (39:09) think at all that they're really talking about the right things here as a government. You know, it's like we want to build new housing for a supply piece. But really now we're kind of leaning back into affordability again, right? Like if we've got if it's costing so much to do it, will people build?

Peter Schravemade (39:28) Yeah. Well, you know, the this article, the staggering part of this, so this is this Noel Whittaker article, if you're wondering, it's at the Courier Mail, it actually says the HIA, which is the housing industry of Australia research behind this is Stark. It says $576,000 or about about half the cost of a new house and land package in Sydney. This is Sydney, is government taxes and regulatory costs and charges. I mean, that is nuts.

Kasey McDonald (39:40) Mm.

Yeah.

Peter Schravemade (39:56) If if

you told me that I was going to build a house and I've already discussed the costs that I've gotten building a house in central Queensland and how astronomical they were, and I was just nuts straight away, if you told me that to put up a house and land package in New South Wales and I would have costs of over half a million, like pushing six hundred thousand.

Kasey McDonald (40:03) Mm.

Peter Schravemade (40:19) What value is in the in that for me? What can you imagine the damage to the market if they took those taxes out tomorrow too? Like all of a sudden people would be building houses for literally cost. the government would lose a a stack of money. So I you know, I think that I think our our federal, state, local have gotten us into a big pickle that we can't necessarily solve for because, you know, to remove that amount of money in the new housing

And the damage that would do for the current stock and the pricing, the valuations on that. Maybe that's what needs to happen. I that's not gonna be a popular conversation. Like imagine me telling you you know, you and you and Ahie own a house that all of a sudden fifty percent of that, somebody coming in today could build that for fifty percent less than what you purchased it for. It'd be very difficult.

Kasey McDonald (40:55) No.

Mm-hmm. Yeah, look, and I we there's there's a housing infrastructure that's just getting built up the road from us. And I think that those homes started at about 1.1 and within our area, you know, existing dwellings are probably going for between 1.2 and 1.3 and some some above that, right? But we've got some friends who have been looking and they've been they were they were looking there and to build and the cost that

of now to build in that is now onwards of one point three. So in a matter of twelve months, still with vacant land available to buy, and to build on, the prices have gone up that much. And and so it's just pushing them out of the market. And and they they say to me all the time, We just keep having to save. Like we just we're saving and saving and saving. And we get to a point and we try to go and then we can't go and then the prices are gone again. So

Peter Schravemade (41:39) Yeah.

Yeah.

Yep.

I've got I've got

Kasey McDonald (42:02) Yeah. And again they and they're

saying all their hidden costs. They'll go in and they'll say, now there's this cost. now there's this cost. So yeah, they're just they're like, well, we're just gonna be renting now forever. so what

Peter Schravemade (42:08) Yeah.

It's it's a

it's a it's a bleak it's a bleak site. And you know, I know you're aware we both have children that are getting to the age where they may be looking to do things like that. I've got two pushing kind of that but that basket now and my advice to them at the moment be just wait. and I suppose that's a good segue to the next article. But and now look, I really dislike bringing news dot com dot AU articles because they tend to be very, very clickbaity.

Kasey McDonald (42:20) Mm.

Yeah.

Peter Schravemade (42:40) Christopher Joye is warning Australia could be facing one of its largest house price corrections on record, with Sydney reportedly falling 12% annualized rate on recent data, and Melbourne falling at double digit annualized rate. Now, look, Melbourne was falling before that the tax incident. I was looking to buy in Melbourne. I was looking to buy because it was incredibly affordable in certain areas. Let's go two bedroom units within

one kilometer of the city in Melbourne are cheaper than any other capital city. so I'm aware that they were falling and and that is on the back. I believe that is squarely on the back of what the Victorian government and the disincentives to actually invest down there in the wake of Dan Andrews and Jacinta Allan. And hopefully the Victorians who are listening might be able to sort that for us out at the end of the year or themselves because the rest of the states are looking at them going, what the hell is going on? And and don't forget too

Just a shout out, I had Toby Balazs on a quick bite recording. You should have a good listen to what he said because he's only newly in the hot seat and he is punching, absolutely punching, to try and get Victorian property professionals rights heard in the raft of changes, which we've got a few coming that we're talking about today. But what do you think? Do you think he's right or wrong in that we're facing a massive price correction?

Is it sensationalist?

Kasey McDonald (44:09) yeah, look, I don't know that it's going to be this massive. I think we're going to get to a point where it probably does start to probably normalize a little. But I think it's, you know, like you said, Melbourne market has already been falling. I think what we've seen though is what we spoke about last week more is that the buyers are being more patient. you know, they're they're they're kind of sitting back and kind of watching a little now, right, as to what's going to go on.

Peter Schravemade (44:13) Right.

Kasey McDonald (44:37) I still just feel that there's just too much uncertainty. But, you know, we now have to be those agents that know how to talk, set expectations right, you know, not create panic. But we've got to be that agent that does that now. We've got to know how to do our job incredibly well i in this type of market. And we can't just rely on

the desktop or the fact that, you know, vendors and buyers are just immediately ringing us or that we've got a massive list of them waiting at the front door. So I think now's the time where we're gonna see probably also maybe an exodus of those agents that aren't operating correctly in market.

Peter Schravemade (45:19) Yeah. Probably. More than likely. I think that's already started. But w the other thing that I'd throw on the back of this is everyone talks about the housing market like it's just Sydney and Melbourne. Brisbane's still rising. It Southeast Queensland's still rising, slightly Adelaide is still rising, Tasmania's still rising, like they're all RP data figures. there is enough in there's enough in information to suggest that a lot of regional areas are still rising as well. So

Kasey McDonald (45:22) Yeah. Yeah.

Yeah. Hundred percent. And so's Perth. Mm-hmm. Perth, yeah, Northern Territory. Yeah. Everyone else is, I think.

Peter Schravemade (45:47) On the whole, Australia is still rising in prices. The market slowed on the back of the confidence. And I don't think it's just the buyers. I think there are a lot of sellers out there that are not confident putting their house on the market because of the amount of media and noise around confidence issues and what that's doing to the to the market. We'll move on because we Yeah, let's move on to the next one. So this is an interesting one for you and me. And I think we're very qualified to talk about this. The

Kasey McDonald (46:06) Mm-hmm. Yeah, no, I totally agree.

Ha ha ha ha

Peter Schravemade (46:17) the Bank of Mum and Dad retreats. So we've heard about the Bank of Mum and Dad for years. A lot of real estate agents just it is a static thing. They get these people buying and there is a guarantor somewhere around there of either a parent or both parents who are backing them getting into the market. But you know, it the hidden support, the loan market data reported by The Australian shows that the share of new homeowners using a family guarantee.

Kasey McDonald (46:20) Mm.

Peter Schravemade (46:46) fell 6.41 per cent in February to 3.86 per cent in June, which is like we look at that and we go, That's only three percent. That's a that's a hell of a lot of them that aren't are no longer there. What do you reckon's happening?

Kasey McDonald (46:52) Mm-hmm.

Yeah. Hell it is. Mm-hmm.

look, I also think, you know, they're sitting back kind of waiting and wanting clarity. But I think as well, there's lots going on from a retirement planning perspective. It's kind of looking at what risk is now involved in us doing that. What what are the tax potential implications if we had to do that also? So I think, you know, there's probably many parents out there that have got that.

equity within their homes to support that decision and to get their children into the property market. But I think they're going, what does that actually now mean for us? Probably also as well, what will it then mean for them? You know, we spoke last week about the government giving the 5 per cent first home buyer. and now a lot of those are actually sitting on negative equity, right? And so does that how does that actually impact what you might then do for your own home as a parent?

So yeah, I think there's lots of questions that are still unanswered and maybe that's why we've seen such a drop off rate.

Peter Schravemade (47:59) Yeah. Well, I think cost of living gets thrown in there too. I don't think that's the three percent change, but a l a lot of uncertainty. Like if you were a parent today and you were considering putting yourself in that position, because don't forget a lot of this this guarantor means that you might be leveraging money against your house. I don't think most parents have a hundred thousand dollars sitting there that they can throw at at at Johnny or Sue who are about to buy a house.

Kasey McDonald (48:02) Yeah, absolutely.

Mm-hmm.

Peter Schravemade (48:27) I actually think they're doing that using the equity that they've built into their own properties, which ca creates this double double leverage. Then if if if your your son or your daughter, or whoever it may be, is buying at the top of the market, you know, it it it is definitely a vote of confidence because that money that you've just put in, you lose a share of that as well. So I think I think mums and dads are now looking at the property market going, Well, maybe we should sit back on this. but yeah, it's it's a it's a

Kasey McDonald (48:31) Yeah, definitely. Mm-hmm.

Yeah. I think

absolutely I think it's about you know, for those, you know, anyone listening who've may be thinking that they're at that stage that they need to do that to support their children, it's really important that you get that right financial advice. you know, go and speak to brokers and your financial planner about how you should be setting up your mortgage structures for those types of situations as well. Cause I know there are many people that get caught out in not having that right structure set up.

Peter Schravemade (48:56) It's a thing, I think it's gonna continue.

Kasey McDonald (49:23) So when you as a parent then go to sell and you think this is great, I'm gonna retire, unfortunately there could be money tied up elsewhere that doesn't allow you to extract what you need. So get that advice.

Peter Schravemade (49:32) Yep.

Yep. Now we'll move to our regulatory block. I've got a couple of mentions at the at the end of today, but we'll move to regulation. NSW Fair Trading prosecution against Netstrata. Now we actually had an article, I think it was wa way back in our first episode where we were talking about the fact that there were strata title managers recorded getting kickbacks and from memory that came out of Victoria.

Kasey McDonald (49:38) Mm-hmm.

Mm-hmm.

Peter Schravemade (49:59) but this is an article released by NSW Fair Trading where they they've commenced criminal proceedings in the Supreme Court against Netstrata and its director and licensee in charge. I won't mention the name, but the allegations include breaches of statutory obligations, fiduciary duties, conflicts of interest, related party service providers, undisclosed financial benefits, and false and misleading information. I mean, they're they're all allegations, so not proven. but they're

Kasey McDonald (49:59) Mm-hmm.

Mm-hmm.

Peter Schravemade (50:28) they've moved against them. I mean, is is strata title is that becoming the next major frontier for trust and you know, do we need would do we need to gut the space? I'm sure there are some good operators out there, Kasey.

Kasey McDonald (50:41) yeah, definitely. I think though they've probably been the quiet ones that are that are probably not as noisy and loud within, I guess, our industry as we are, I suppose, as real estate agents compared to those of Strata. but you do probably you know, I've sat on owner corporation meetings myself, and there's they are, you know, typical mum and dads. They they don't have some of that understanding like we do on the day-to-day.

and they they typically go into these types of environments kind of at the end of their careers and they've been in other careers, right? And so I think different types of arrangements that they've got in place, the financial benefits and all of that understanding of what they can and can't do. I don't think maybe there's a level of understanding or potentially training. And I don't know, I haven't been in there, but I've just sat on some of the meetings and the, you know, the types of questions that they do ask. They're certainly not of the level I don't believe as to what w

types of training that we do get within the real estate sector, I guess from that piece. So potentially it could be that next piece where the Office of Fair Trading are going to go in and at each state now and start to actually uncover how strata is designed and how they're operating.

Peter Schravemade (51:58) Yeah, well the bot the body corporate's one thing and that's where a lot of the mums and dads sit. But this is the actual strata operators who are who are then employed. So normally you'll get them in a in a site, what, over fifty or maybe even over thirty. And you've got thirty owners who are potentially not looking at what's going on underneath them. You've got an inexperienced board. Yep. You've got an inexperienced board that you know, that you were referring to. And the strata title manager is

Kasey McDonald (52:13) Yeah.

Correct. Yeah. Cause they don't know what to ask, right? Yeah, they don't know what to look at.

Mm-hmm.

Peter Schravemade (52:26) You know, it's kind of one of those things you don't want to hear from them. when you hear from them, there's pro it's a bit like it's a bit like s the way some landlords treat property managers. Like if they're calling me, there's an issue with my property, can't you just take care of that yourself? That's a bit that's the way I feel it is. especially with the apartments that I you know I've owned. And y every time I hear from the body corporate, it's it's either ca a complaint about the tenant or it's a, you know, there's some some kind of action on my behalf that I need to put forward.

Kasey McDonald (52:39) Mm-hmm.

Mm-hmm.

Peter Schravemade (52:56) so I you know, I think they're a kind of unwanted not unwanted, but they we d we don't wanna have a lot of contact with our strata title. And I think a lot of them have have used that to fly under the radar and do things that are potentially not in the best interests of of themselves or the or the people they rep they represent. So yeah, that's an interesting one.

Kasey McDonald (53:14) Definitely.

Yeah. Yeah. I think it's

absolutely it's choosing those right suppliers. And like you said, you don't want to hear from it. You just think, okay, that's fine. I'm paying those fees. They're gonna look after it for me, you know, and then you might have that kind of manager or that voice. But again, you know, what are the disclosures in place? And maybe that's the first piece, right? It's kind of getting under the hood, lifting it up, having a bit of a review of how they do operate and what are some of those comp potential conflicts that might be in place.

Peter Schravemade (53:47) Yeah. We've got two more regulatory ones. three actually. There's two from Victoria. So Victoria Consumer Affairs has fined three real estate agents for failing to advertise rental properties with a fixed price. This seems pretty straight ahead to me. actually they've i I read the I read the press release in full. Consumer affairs Victoria use some pretty harsh harsh language. Like I don't know whether that's intentionally, but they

Kasey McDonald (54:01) Mm.

Peter Schravemade (54:17) You know, the press are read to be quite aggressive on this. And then the other one that I've seen the agents talking about, like I th I think the rental pricing's probably something that we don't need to dwell on. I don't I don't necessarily agree with it, but it's in that is the regulation and if you're not adhering to that, you're probably, you know, they're gonna be looking to go out and make an example of someone and it seems like they have the

Kasey McDonald (54:29) Mm-hmm.

Mm-hmm.

Peter Schravemade (54:42) bigger

issue, especially when I spoke to Toby Balazs the other day on the quick bite recording, which you need to listen to, was the Section 27 changes. Now Section 27's not exciting at all, part of that contract there, but it what it affects is it's the early deposit release, which aids vendor cash flow and s and mostly it's a it's also impacts commission timing. So the REIV summary of the consumer legislation amendment bill says the

Bill proposes to repeal a Section 27. Now Toby we've put that up in the link of Toby's call. He's asking all real estate agents in the area in Victoria to write to their to their MPs and the shadow MPs and let them know that they're not a fan of it because the probably the person that's gonna hurt the most is the actual seller in the transaction who can't fund what they're moving to next because of the early release of those that deposit. So

that's an interesting one. Do you have any take on that?

Kasey McDonald (55:43) No, but I just want to just probably pass one comment around that rental pricing piece if I can. I if you look at at that, there's different legislation pieces across all of the states. And yes, it'd be nice if we all ran the same, but we don't. But you know, I've got a I'd like to throw a question probably out there in regards to the portal. It's because the portals out there that if we know that you need that you cannot advertise a price without it being fixed, why do we allow for them to go live?

With either you know, a zero amount or nothing in there or or a or a range. Why do we allow that to occur?

Peter Schravemade (56:21) That's a

it's a very good point, but potentially it may not be on either of the portals' websites. It could be on the actual agents themselves. Yeah.

Kasey McDonald (56:25) Mm.

be it could be absolutely

could be on their website 100% but I think you know I'd like to definitely kind of put it out there to say that there's you know yes there's a training element to this as well from the staff the principals absolutely should know what's going on within their business and their teams should be well trained to know they shouldn't need do this but I'd also like to make sure that the systems and the tools that we have available in our industry that they're complementary of what our legislation is as well.

Peter Schravemade (56:50) Mm.

Yeah, well, New South Wales has had changes to the way that they're allowed advertised properties for sale. And I notice people are looking at so for example, offers over. Like I saw a a a an advert that said offers over. it's it's against the regulation in New South Wales. So, you know, you're really just encouraging them, the regulatory bodies to clamp down on you. So I mean, I you may not like it. There is another way to fight it if you don't

Kasey McDonald (57:04) Mm-hmm.

Mm-hmm.

Yeah.

Correct.

Peter Schravemade (57:26) Don't want to do it, and that's to get involved at the REIs and get lobbying. we got we got one more which I have seen popping up, not necessarily through the agents. I think the agents don't like this, but they're dealing with it. But it's the it is the in New South Wales rent reforms and failed sale reletting issue. So New South Wales landlords now need a specific ground to end a tenancy.

Kasey McDonald (57:29) Mm-hmm. Yeah.

Mm-hmm.

Peter Schravemade (57:53) And they're saying that it applies to all tenancies. So the article I saw, and I d I actually don't know if this is correct, was where a landlord entered a tenancy to put the property on the market. The property didn't sell, and he is saying that he needs to write to the Queens to the NSW Fair Trading in order to relet that because he's ended a tenancy. so I don't I don't know what is going on there, but that sound that sounds totally bizarre to me that one person.

Kasey McDonald (57:58) Mm-hmm.

Mm.

Yeah.

Peter Schravemade (58:22) What do you do with that do you leave that property vacant? And how is that helping your supply and demand issue? Like that doesn't make sense. A landlord should be able to transact that property whenever they can.

Kasey McDonald (58:29) No.

Yeah, I think, you know, obviously there's been many changes around ending a tenancy across many of the states, right? And I think there's prescribed reasons as to why and selling, of course, I think is is all is approved and is allowed. and in this instance, if it didn't sell, I don't understand why they then wouldn't be able to readvertise the home to find a suitable tenant to go back in if that was the case. So that I if this is true, I find it incredibly bizarre.

Peter Schravemade (58:59) Yeah, and probably the other thing just in line with this is I think I really think sales agents who are advising an owner to sell probably need to do a property management tenancy termination check. because if you've advised your your landlord or the owner to sell and they somehow end up in hot water, well, I don't I don't know who's responsible for that. Probably the owner, but I don't think they're going to be very happy with you. So it's not a scenario that you want to get into.

Kasey McDonald (59:12) Mm-hmm.

Peter Schravemade (59:28) So that's probably worth a check as well. look.

Kasey McDonald (59:31) Mm-hmm. Yeah, definitely.

We don't, I don't know that we should be also, you know, and we don't know what happened here, but if we're kind of thinking, let's just, you know, if that owner has said, can we just kind of put it on the market and test the market as an example, that could have been a scenario that's happened here. and so probably as sales agents as well, we should be making sure that we're offering the right advice as to whether or not that's exactly how the market, how the property should be going to market and what implications.

Peter Schravemade (59:37) No.

Kasey McDonald (59:58) it could have on that vendor if if they went that down that path.

Peter Schravemade (1:00:02) Absolutely. we've got some quickfire ones that I'm just going to talk about that we won't get a chance to discuss. an agent court for DUI. I'm not going to go into that in in Queensland here. We have obviously AML, live and real. so if you're not aware of that, get in contact with the REI because they're all over it. the one that we touched on last week, which was the SMS sender ID registration. So if your agency's sending branded SMS messages, check the new SMS sender ID rules.

Kasey McDonald (1:00:06) Mm-hmm.

Mm-hmm.

Mm-hmm.

Peter Schravemade (1:00:32) ACMA says all businesses and organisations need to register sender IDs before 1 July. That's not 10 days ago now. and unregistered IDs will show as unverified. I'm getting a raft of people texting me saying that ours are now verified and so it's actually happening. and the only other thing that I would throw to you is an interesting article from Mike DelPrete. That's D-E-L-P-R-E-T-E.

Kasey McDonald (1:00:39) Mm-hmm.

Mm-hmm. Yeah, mato.

Peter Schravemade (1:00:59) And he's talking about portal versus portal. So REA versus Domain, Zillow versus CoStar, Rightmove versus challenges. it's well worth a look. So he's got a great way of framing the Portal Wars. He's the guy that reported on I guess CoStar's move down here, the fact that the REA is one of the most profitable in the world. well worth a look at his article. I'm gonna put it in the in the list of things to do. But from

From you and I, we have a massive week ahead. Are you excited about where we're going?

Kasey McDonald (1:01:32) Yeah, absolutely. I think well, one, I've got an awards night to celebrate my husband and his fantastic career on Saturday. So for the first time ever, I get to go to an awards night and get fancy dressed stuff and drink the champagne without having to present an award or or be working. So I'm really excited. but more importantly, to celebrate him and then of course what we have on next week. super excited. I can't wait to meet some of those fantastic speakers that we've got coming over from America and of course just

Peter Schravemade (1:01:40) fantastic.

Kasey McDonald (1:02:00) networking with all of the fabulous people in our industry.

Peter Schravemade (1:02:04) Yep, we're looking forward to it. If you're in the area of Brisbane, we'd love to see you, we'd love to catch up. Come and say good day. Let us know the feedback on the podcast what you like and what you don't like. Tell Kasey what you don't like, tell me what you like. And we'll we'll w we'll

Kasey McDonald (1:02:12) Mm.

And hey, if

anyone is coming to the event, make sure you do grab us. We will be doing little, you know, quick fireside chats for those who you know, may be interested in in coming on and being a guest on our podcast.

Peter Schravemade (1:02:33) Yeah, that'd be great. and to all of the agents who are going out there today, putting directional signs up, getting ready for the weekend, getting ready to sell list, whatever it is that you might be doing, working you know, sellers working purchases for sellers. we really hope you have a great weekend, a very successful weekend wishing that for you. And until next week on Before the Weekend, this is Kasey and Peter signing off. Enjoy your week.

Kasey McDonald (1:03:00) Yeah, happy weekend, everyone.