In this edition…

🫱🏼‍🫲🏾 Board approves multiple new initiatives

5️⃣ The top 5 liability pitfalls every property manager must avoid

🤖 Grok 3: Does it really outperform all chatbots?

🙌 A simple negotiation strategy that changes everything

☠️ Scammers continue to target First National agencies

🌟 First National’s top performers and rising stars honoured

📉 Don’t believe the doomsayers – More rate cuts are on the way

👩‍👩‍👦‍👦 People first at First National - Training revolution begins

💣 The virtual assistant that could cost you a bomb

🫣 Open homes: The dos, don’ts and can you use the toilet?

CEO update - Onward and upward

👓 2 Minute read

In the blink of an eye, it’s already March. Across the network, our State Awards are in full swing as we recognise our top performers and rising stars – and it’s great to see such enthusiasm as we share in each other’s successes.

At the February meeting of your Board of Directors, several important initiatives were approved, enabling your management team to move forward as it works to revitalise and grow the First National Real Estate network. Our exciting ‘People First at First National’ learning and development proposal received the green light and will lay the foundation for a future-focused culture of continuous learning, blending face-to-face training with webinars and online learning capability. Our ultimate objective is to launch our own Training Academy.

With our new leadership team in place, we are now ready to fast-track our network growth plans. In fact, we are already compiling a pipeline of potential candidates.

This month, we’ll be calling for Regional Council nominations. If you would like the chance to shape the future of First National, please nominate yourselves – your voice matters. And, because we’re committed to strengthening governance, all Regional Councillors will have the opportunity to participate in a short training program with the Australian Institute of Management (AIM), gaining a certificate of attainment in the process. This leadership credential will benefit your career and your business.

Your NSO has now commissioned a brand health survey. The results will help us better understand how First National Real Estate is positioned in the marketplace and where opportunities may lie for improvement. When we work together to strengthen our brand, every single person at First National benefits.

As 50 plus lenders have confirmed they will pass on the full 0.25% rate cut and the housing market heats up, housing policy is shaping up to be a key issue in the federal election. Anti Money Laundering and Counter Terrorism Financing (AML/CTF) compliance will be required of every Australian agency by 1 July next year, and First National has already begun the process of assessing potential partners who will support your business through implementation. In addition to the experience our Kiwi cousins can provide us, First National will participate in the Real Estate Institute of Australia’s (REIA) AML Study Tour – hosted by First AML.

Connection is what drives us at First National Real Estate, and we are grateful to each one of you who contribute to excellence in customer service, participate in our training programmes, volunteer your time for our Regional Councils or indeed serve on our Board. We are ‘better together’.

Have a great March and I look forward to catching up with many of you at the May Convention in Port Douglas.

First National’s top performers and rising stars honoured

👓 1 minute read

Western Australia, South Australia and the Northern Territory have celebrated the successes of 2024 at our first two State Awards events - hosted at Crown Perth and The Australian Wine Centre, Adelaide.

In Perth, FN Hedland (Port Hedland) was announced the winner of WA Sales Office of the Year and WA Property Management Office of the Year - for the eighth consecutive year.

Topping the individual awards were:

Rebecca Grazziadelli of FN Kalgoorlie, who took home WA Property Manager of the Year
Amy Doran of FN Hedland (Port Hedland) who won WA Business Development Manager of the Year
Danielle Collins of FN Hedland (Port Hedland), who achieved WA Salesperson of the Year

In Adelaide, FN Murray Bridge was announced winner of SA/NT Sales Office of the Year and FN Lewis Prior was announced SA/NT Property Management Office of the Year.

Topping the individual awards were:

Karlie Ridley of FN Lewis Prior who took home SA/NT Property Manager of the Year
Nathan Janda of FN Salisbury (SA) who won SA/NT Business Development Manager of the Year
Mitchell Halpin of FN Broken Hill (NSW) who achieved SA/NT Salesperson of the Year

Congratulations to all our award winners. You’re now in the running for our National Awards at our Port Douglas Convention this May, and we can’t wait to see you there!

Download WA Professional Photos

Download SA/NT Professional Photos

Don’t believe the doomsayers – more rate cuts are on the way

👓 30 second read

Reserve Bank Governor Michelle Bullock’s press conference, following the 0.25% rate cut, presented a very hawkish tone – repeatedly stating market forecasts of two or three more rate cuts this year were wrong.

However, the bond market is at odds with the RBA and by mid-week following the announcement was factoring in another two rate cuts by year-end, with a small probability of another rate cut in early 2026, bringing the current easing cycle to 1%.

It seems reasonable, according to top economists, that we can expect cuts in May and August. This is because:

Wages growth is at its weakest since 2022 – 2.6%
The economy (adjusted for immigration surge) has been in recession for two years
Household consumption and GDP have collapsed
Savings rates have increased
Consumer and business confidence is low

Based on the inflation and economic outlook, the bond market expects several more rate cuts and, historically, the bond market tends to get it right.

NSO boardroom named after first Managing Director

👓 30 second read

On the morning of the network’s most recent Board meeting, a ceremony was held in honour of First National’s inaugural Managing Director, Allan Hart. During the proceedings, a plaque was unveiled whereby the boardroom was named ‘The Allan Hart Boardroom’ before two of Allan’s children, Rebecca Hart and Jules Hart, and in the presence of FN Advocate, Wayne Nicholson.

Allan served as Managing Director of First National from 1984 until 1995. Together with network founders Bill Wood and Chas Heath, Allan took our brand from its first headquarters in Geelong and grew it into the national and international giant we now proudly call our own.

Allan’s belief in the power of collaboration was evident early on, as he criss-crossed Australia in the days before online applications, inviting the finest real estate professionals of each region to join our network. This personal touch not only expanded our membership but also established the culture of mutual support that differentiates First National from traditional franchise models today.

A copy of the speech made by CEO David Edwards is available on the network’s national website.

People first at First National

👓 1.5 minute read

First National envisions a culture where professional development is part of everyday business. The current NSO training programme primarily consists of face-to-face sessions and our recent Member Satisfaction Survey affirmed that this has not fully met members’ expectations.

A shift to more engaging and interactive options is required and, with the Learning & Development audit conducted by Trevor Maher now complete and recommendations signed off by your Board of Directors, changes will be implemented in phases over the next 12 months.

Face-to-face sessions will be complemented by breakout discussions and practical tools will be provided to help attendees more effectively transfer the knowledge received back to teams in their offices. Interactive ‘panel show’ webinars (live and face-to-face) will foster entertaining peer-to-peer learning experiences. Online eLearning modules, coupled with e-book style Coaching Guides and Step Guides, will ensure that members can access or refresh their knowledge anytime, supporting continuous, long-term development.

Strategic priorities:

National Training Academy – Accredited learning, Masterclasses, FN Futures (attracting/developing young talent) Onboarding programmes, National membership of REIA (tailored training opportunities)
Digital Enablement – Learning Hub, myFN (formerly FN Central), First Connect (member HR information system), Digital Hub (comprehensive content library)
Workplace Health & Safety – 12 mandatory health and safety modules, coaching guides, step guides (practical training tailored to real estate needs) and compliance tracking.
HR Resources Information Systems & HR Policy Review – Automated HR tasks, Centralised performance reviews/employee records, HR policies aligned to industry best practices
Empowering Regional/Organisational Growth – Regional Councils (Governance frameworks), BGMs (structured office visit frameworks/business performance coaching), NSO development (embedding team members in members’ offices for insights) enhanced WH & S standards, goal setting / performance reviews etc.
The Learning Framework – Learning and development structure / customisable content

The ‘People First at First National’ initiative is designed to position the organisation as an industry leader in professional development, compliance, and operational efficiency. By fostering a culture of continuous learning and collaboration, First National Real Estate will enhance member experience, strengthen its internal framework, and maintain a competitive edge and enhance or membership value proposition.

Rate FN to help grow your network

When it comes to reputation, First National’s chief focus falls on the optimisation of each office’s Google Business location, star rating and overall search profile.

To help First National Real Estate grow as a brand, we need to attract as many 5-star ratings and positive commentary about the membership experience as possible. We can do this through National Support Office’s Google Business location.

We’re seeking reviews from principals, sales agents, property managers and administrators – everybody is welcome. In your comments, please tell us about your experience with:

Training
NSO support
The support provided by your BGM
Conventions

Any context you can add that emphasises how the services First National provides you helps you to deliver better customer experiences would be greatly appreciated.

Click here to leave a review now.

Please mention that you are a member, staffer, and/or the office where you work

Commercial property reaches turning point

👓 50 second read

One of the best ways of buttressing your business profits against vagaries of market cycles is by adding a commercial leasing and sales. Now that a new cycle has started, the timing couldn’t be better.

The outlook for commercial property is brightening, with real estate investment trusts around the world reporting improved operating income and, with more willing buyers, a trough in valuations. Supply is constrained and interest rates have peaked.

While office sector valuations are still in decline, the rate of decline has slowed. Post COVID yields are improving, and because of underlying rental growth, actual values are well up on June 2020 numbers – 35% for industrial and 19% for shopping centre retail. The only exception is offices, where values remain 5% below 2020 figures.

As workers return to offices, the sector is poised for growth, so there’s never been a better time to dive into commercial, as a way to drive growth in your business.

Speak to National Commercial Manager, Anne Donchos, about adopting the FN Commercial brand. Call Anne today on 0414 582 224.

SA/NT/Alice Springs ‘Town Hall’ revitalises transparency in member communication

👓 1.3 minute read

With First National Real Estate striving to improve communication and transparency to its network of members, the SA/NT Regional Council seized upon the National Support Office’s recommendation to conduct a ‘Town Hall’ meeting to coincide with its annual State Awards. A clear indication of our member’s interest was the fact that every office was represented at the meeting – a significant achievement for which the SA/NT Regional Council is to be commended.

The relaxed and informal environment fostered constructive discussions, so much so that the scheduled one hour meeting easily extended to two, while a wide range of topics were canvassed.

Having introduced the network’s new Membership Director – Darren Pearce – and Network Growth Manager – Betty Ninas – CEO David Edwards provided members with a frank and fulsome appraisal of the challenges faced managing the network over the past 10 months, as well as progress on the key initiatives outlined in the business’ 3-Year plan.

Key talking points included:

The key member outcomes addressed at the February 18 Board meeting
The phase one review of fees and levies (membership retention strategy)
The ‘People First at First National’ learning and development strategy
The network’s positive financial position
The impending appointment of a new SA/NT Business Growth Manager
Status of the network’s growth strategy and initiatives taking place to build a pipeline of recruitment prospects in the region, including an update on a prospective member considering joining First National Real Estate

A key agreement that emerged from the meeting was that most SA/NT members are keen to share operational performance data for the purposes of benchmarking. An exciting step in helping our organisation move to becoming a data insights led business.

National Support Office thanks the SA/NT Regional Council for facilitating the ‘Town Hall’ and is grateful for the input of all members who were in attendance.