The real estate profession many decades ago was essentially made up of smaller, often independent real estate offices and whilst there was strong rivalry and competition, there was a sense of unity as the industry often came together in times of need. This was certainly the case when I started my career in real estate in the 1980’s. But have we done the full circle?

I observed in the later part of the last century and early 2000, unity and fellowship amongst estate agents started to wane. However, as often things go in cycles, I believe times are changing again as business owners and practitioners are seeking to unite with their fellow estate agents for much better outcomes for not only their own businesses but also the industry as a whole.

Perhaps what covid times has shown us is that by working together as a profession and assisting each other, it has helped estate agents grow and stay on point even during difficult times.

If you take politics out of the equation, as we know lockdown rules, particularly in Melbourne, have proven to be extremely difficult for everyone, even estate agents. But through online groups, webinars, online meetings and other real estate business and networking groups, estate agents have had the opportunity to share their views, seek advice, gain a different perspective on things, refocus and also reinvigorate fellowship.

As evidenced in recent times, franchising and marketing groups along with other real estate networking groups have seen growth and it’s my view that these trends will continue as time goes on. Everyone is looking at ways to improve their businesses, income and asset base as well as their knowledge by sharing and participating in real estate resource groups, so as to broaden their outlook and make their businesses more profitable.

As a former President of the Real Estate Institute of Victoria (REIV) I will always strongly advocate for real estate individuals and businesses be a member of their local Real Estate Institute (REI), but I also see enormous upside for individuals and businesses to seek out appropriate real estate collective groups to assist them to navigate the times ahead.

REI’s are very important as they are the direct link between the industry and the regulator/ government. I believe the larger the membership base of any Real Estate Institute is with quality members, the stronger the industry voice is and the more wins you end up having with the government. But aside from this, when it comes to maximising real estate business buying  power and resources, being part of a like-minded group of estate agents who meet, share ideas and business opportunities regularly, is also enormously beneficial.

Estate agents are at the centre of real estate transactions and so many other services that come as a direct result of the transaction, so where real estate businesses and franchises can work together and collaborate, there are so many financial and global benefits for those that participate.

Being part of any group doesn’t mean giving away trade secrets and whilst estate agents are naturally competitive, they are also entrepreneurs and people who offer hope and vision. Estate agents are all essentially doing the same thing, as they help their clients provide a roof over their heads, but being united and assisting each other, I believe, is critical to ensure real estate remains professional, financially rewarding and a long-term career proposition.

Written by Geoff White – Head of Real Estate at Movinghub Australia and former REIV President (Movinghub.com.au)

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