Ray White CFG Property Managers Level Up!

Ray White CFG property managers gathered with Ray White Property Managers from across the state at the Brisbane Convention and Exhibition Centre to hear from leading experts in the industry at the group’s Ready SET Go event.

Speakers included the REIQ CEO Antonia Mercorella (pictured below) who took a deep dive into recent legislation changes in property management, while Ray White Victoria and Tasmania property management BDE Alana Bess spoke about wellness and avoiding burnout – a key issue for property managers in 2024.

Ms Mercorella spoke about the Stage 2 rental reforms which came into effect on June 6 of this year as well as the upcoming Continuing Professional Development (CPD) for agents. The REIQ is holding a comprehensive rental reform roadshow across the state. These sessions are open to everyone in the industry, not just REIQ members.

“Stage 2 is a bit misleading as this is actually the 5th round of legislative reform in the rental space in as many years. We are still not quite at the end of this journey though, with more legislative amendments to come that have been earmarked in this bill,” she said.

Ms Mercorella spoke about the raft of legislative changes that came into effect and their impact on property managers, tenants and lessors which cover a range of areas.

“One key area of the changes involves limiting rent increases to every 12 months. This reform is a dramatic departure from established tenancy laws in Queensland as it attaches the rent increase to the property, not the tenancy agreement.”

“It’s really important as a property management community that despite how we feel about laws, they are still laws – we need to support each other. Be respectful and disclose the rent if a new property manager reaches out.”

Ms Mercorella also touched on some upcoming changes including the introduction of CPD requirements for property managers which the REIQ is in full support of encouraging and maintaining a high level of professionalism in the industry.

“This is a really important change which is a step in the right direction. The REIQ will be consulting with the government in the coming weeks,” she said.

Property management has been a difficult profession to navigate, and Ms Mercorella encouraged all property management business leaders to think long and hard about the fees they’re charging for their services as risk has gone up significantly.

Jean Brown, COO and Head of Property Management at Ray White CFG, mentioned the importance of these events and said the team took a lot out of listening to Antonia Mercorella.

“The Stage 2 rental reforms are a significant milestone. It’s essential for our team to be well-versed with these changes to provide the best service to our clients.”

Jean added, “The continuous legislative changes highlight the dynamic nature of property management. Our property managers must stay adaptable and resilient to effectively manage these transitions.”

Following on Alana Bess (pictured above) used her session to teach the audience a few techniques to help them prioritise their well-being and avoid burnout. Ms Bess is an accredited NLP practitioner who is passionate about property managers’ wellbeing.

“One of the biggest challenges in property management is mental health and wellness. A recent survey of property managers conducted by MRI has shown that this is one of the areas in which property managers receive the least amount of training,” Ms Bess said.

She encouraged the crowd to reconsider what they were taught about how to handle stress.

“We don’t have any techniques or tools to deal with the difficulties of the job,” she said.

“We are seeing unprecedented levels of stress in the world. The property management industry is no different. Typically 70 per cent of people have at least one feature of burnout.

“Property management has become a stressful profession dealing with the raft of regulatory changes, and managing sometimes difficult relationships with tenants and owners.

“The good news is it’s now spoken about more often and more attention is being focused in this space. The pandemic affected and depleted our stress reserves.”

Ms Bess spoke about acute stress compared with chronic stress and how your window of tolerance is your optimal state of being.

“You can widen your window of tolerance and expand your capacity to manage stress,” she said.

“How do we take this knowledge and apply it in a way that not only benefits us individually but strengthens our teams, enhances our client relationships, and ultimately elevates our entire approach to property management?”

Several techniques were discussed including meditation, mindful breathing and creating focus zones. The session ended with a short guided visualisation where the audience was encouraged to visualise the best version of themselves.

“The introduction of CPD requirements is a positive step. It ensures that our property managers continue to grow and maintain high standards of professionalism.”