Property Industry

Queer visibility in the workplace remains just as necessary as it was ten years ago to normalise LGBTQI+ leaders as corporate role models that young people can look up to.&nbsp;

Only 21 per cent of LGBTQI+ leaders are &lsquo;out&rsquo; to the whole of their organisation, according to global data from <a href="https://www.accenture.com/us-en/blogs/accenture-research/the-surprising-reasons-most-lgbt-people-are-not-out-at-work" target="_blank">Accenture Research</a>.

But visible &lsquo;out and proud&rsquo; leaders provide a path for others to follow, with over 70 per cent of queer professionals claiming that these role models help&nbsp;them to thrive.&nbsp;

Broader conversations about equality and representation have been a catalyst for more inclusive practices in the workplace. However, the property industry is indeed lagging behind.&nbsp;

&ldquo;Unless LGBTQI+ people see people like them having successful careers in property and construction they&rsquo;ll look elsewhere,&rdquo; said Lendlease special projects executive Aaron Spicer.

Urban sits down with four change-makers transforming the face of the property industry to discuss the importance of queer visibility, the targets currently in place and what&rsquo;s next for the property industry. 
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<h2>Who are they?</h2>

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<figure class="align-right "><img alt="" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/untitled_design.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" srcset="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/untitled_design.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=1 600w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/untitled_design.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=2 1200w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/untitled_design.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=3 1800w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/untitled_design.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=1 754w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/untitled_design.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=2 1508w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/untitled_design.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=3 2262w" />
<figcaption>Michael Vavakis</figcaption>
</figure>

Michael Vavakis, Chief Operating Officer &ndash; Europe, Lendlease: Michael has worked in Human Resources roles for over 25 years at Hewlett-Packard and Lendlease. Formerly the Lendlease Australia CPO, Michael played pivotal roles in implementing initiatives to build a true culture of inclusiveness, where diverse employees are not only represented but truly engaged and integrated into their workplace. These include the Property Male Champions of Change collaboration.

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<figure class="align-left "><img alt="" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/3_copy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" srcset="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/3_copy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=1 600w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/3_copy.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=2 1200w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/3_copy.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=3 1800w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/3_copy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=1 754w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/3_copy.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=2 1508w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/3_copy.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=3 2262w" />
<figcaption>Meg Patten</figcaption>
</figure>

Meg Patten, Marketing Manager, Riverlee | Co-Founder, Queers in Property: Current Chairperson and Co-Founder of Queers in Property, an independent network connecting LGBTIQ+ people in the property industry, Meg has sought to foster safe spaces and empower the community. They also sit on the Property Council of Australia&rsquo;s diversity and inclusion committee.&nbsp;

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<figure class="align-right "><img alt="" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2_copy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" srcset="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2_copy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=1 600w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2_copy.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=2 1200w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2_copy.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=3 1800w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2_copy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=1 754w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2_copy.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=2 1508w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2_copy.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=3 2262w" />
<figcaption>Aaron Spicer</figcaption>
</figure>

Aaron Spicer, Special Projects Executive, Lendlease: Aaron has been very involved in progressing LGBTQ+ inclusion at Lendlease and more broadly in the property sector over the last few years. Aaron is the present Chair of the Lendlease Pride Network, where he has driven numerous strategies that helped the company to be recognised in the Australian Workplace Equality Index (AWEI) Awards. Lendlease was named a Platinum Employer at the 2020 Australian LGBTQ Inclusion Awards.

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<figure class="align-left "><img alt="" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1_copy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" srcset="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1_copy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=1 600w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1_copy.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=2 1200w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1_copy.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=3 1800w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1_copy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=1 754w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1_copy.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=2 1508w, https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1_copy.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=1218&amp;fit=crop&amp;dpr=3 2262w" />
<figcaption>Marcus Skeggs</figcaption>
</figure>

Marcus Skeggs, Account Manager, DisplaySweet | Board Member, Queers in Property: Marcus is a committee member on the Diversity and Inclusion Committee for the Urban Development Institute of Australia (UDIA) NSW, and is the Chair of their subcommittee for diversity, inclusion, and leadership. Marcus also sits on the Queers in Property board, alongside Meg.

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<h2>Why visibility makes all the difference</h2>

Young queer people want to know they can be themselves at work and that being LGBTQI+ will not hold back their careers.

According to a <a href="https://offers.indeed.com/AU_en_081820_DIReport_CON-EBOOK_CM" target="_blank">2020 report by Indeed</a>, 61 per cent of LGBTQI+ Australian workers say they either some or all of the time feel the need to hide their sexual orientation at work.

For over half of all LGBTQI+ employees to hide this part of their identity points to an underlying fear of stigmatisation &ndash; that perhaps there is a price to pay for being openly queer. Many workers hold a&nbsp;<a href="https://everfi.com/blog/workplace-training/lgbt-workplace-issues-hide-their-identity/" target="_blank">persistent feeling of being unwelcome</a>, while others remain &#39;closeted&#39; due to&nbsp;<a href="https://theconversation.com/coming-out-at-work-is-not-a-one-off-event-101118" target="_blank">legitimate career risks</a>, including fewer job opportunities and fears of discrimination.

This is why visibility plays such an important role in breaking down these fears and stigmas, allowing employees to feel more comfortable to bring their whole self to their workplace.&nbsp;

<img alt="" height="3648" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/shutterstock_1177679803.jpg" width="5472" />

As for Riverlee&rsquo;s marketing manager Meg Patten, seeing others gave them the courage to be an &ldquo;out and proud, non-binary lesbian in the workplace.&rdquo;

&ldquo;Visibility has the power to inspire and cultivate change within the property industry which is known to be male-dominated and heteronormative&rdquo;, they said.&nbsp;

<blockquote>
&ldquo;There is nothing more empowering than seeing another LGBTQI+ person letting their individuality shine.&rdquo;
</blockquote>

DisplaySweet&rsquo;s Marcus Skeggs echoed this sentiment, &ldquo;Visibility equals empowerment,&rdquo; he said.&nbsp;

Feeling hopeful that the industry has moved beyond &ldquo;having a conversation&rdquo;, Skeggs has started to see real change and action, including support for Sydney Gay and Lesbian Mardi Gras from development groups by gong rainbow for the festival,&nbsp;and diversity and inclusion training for workplaces.&nbsp;

&ldquo;I would like to see this happen more often and workplaces start to celebrate significant days for the LGBTQIA+ community, like Wear it Purple Day for example where we celebrate our rainbow youth.&rdquo;&nbsp;

&ldquo;It&rsquo;s important we keep the momentum going&rdquo;, he concluded.&nbsp;

[smartcode_project:default project_id=27728]

With industry initiatives like Pride in Diversity, <a href="http://www.interbuild.online" target="_blank">InterBuild</a> and <a href="https://queersinproperty.com.au/" target="_blank">Queers in Property</a>, it is likely we will continue seeing this push for action.

Executives who embrace these initiatives can become more successful leaders and boost the empathy, efficiency, and productivity of their organisations. 
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<h2>The blue-collar identity gap</h2>

While &ldquo;good progress&rdquo; is being made in corporate office roles, more work needs to be done on site-based roles, Spicer said.

Within the construction industry, homophobia was more present than on average, reported <a href="https://www.pwc.com.au/publications/pdf/pwc-workplace-inclusion-report-sep17.pdf" target="_blank">PwC&rsquo;s GLEE team</a>.

<blockquote>
75 per cent of respondents indicated&nbsp;they had observed homophobia, compared to 56 per cent in other sectors.&nbsp;
</blockquote>

&ldquo;The initial focus has been on corporate [and] white-collar environments and much more needs to be done here, but we also need to consider regional, site and blue-collar workforces.&rdquo;&nbsp;

&ldquo;Given the subcontract nature of those environments we can only create truly inclusive workplaces if the industry works together to achieve a base level of expectations and behaviours&rdquo;, he added.

However, Patten, despite co-founding Queers in Property, still feels like they are always learning about how to tackle this issue. It&rsquo;s all a learning curve.&nbsp;

&ldquo;People don&rsquo;t generally understand what they can&rsquo;t see which reinforces how important visibility is&rdquo;, they noted.&nbsp;

Executives and diversity and inclusion teams can follow Patten&rsquo;s lead in adapting initiatives to be &ldquo;as inclusive as possible.&rdquo;

The young change-maker immerses themselves in the community and listens to stories to help drive the change the industry needs.

Chief operating officer at Lendlease, Michael Vavakis adds: &ldquo;Conversation, role models, product design, calling out positive and negative behaviours [&hellip;] is really what creates an inclusive environment and each of these things needs to be relentlessly pursued.&rdquo;

Lendlease is similarly working to increase its focus on inclusion, partnering with UNSW to research the barriers to LGBTQI+ inclusion on construction sites.&nbsp;

&ldquo;We look forward to sharing the results of that research and recommendations for the industry to address later in the year&rdquo;, Spicer said.&nbsp; 
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<h2>Building inclusivity into communities&nbsp;</h2>

According to Vavakis, it is not only employees that developers and industry associations should be helping, but homeowners too.&nbsp;

&ldquo;Outside of all the activities we are doing to create inclusive workplaces, I believe that this point about designing and creating and building with inclusivity in mind is a unique proposition that has only begun to be explored in the property industry.&rdquo;

<blockquote>
&ldquo;[This] is something unique that the property industry can contribute. That is how do we design, create and build places that reflect the importance of inclusiveness and the sometimes uniqueness of the LGBTQI+ community&rdquo;, he said.&nbsp;
</blockquote>

Patten echoed: &ldquo;We have so much influence on the built environment, we need to understand how we can create LGBTQI+ friendly spaces for people as well.&rdquo;

Although it&rsquo;s unlikely we&rsquo;ll be seeing queer design hitting residential projects in the mainstream anytime soon, dialogue about inclusiveness and community-making should continue across the property industry.&nbsp;

&quot;Diversity is more than a box ticking exercise, it&#39;s about creating meaningful change to ensure the homes that we&#39;re building meet the needs of the communities we serve&quot;, said Urban.com.au CEO Mike Bird.

For Spicer, this might include discussions on&nbsp;the &ldquo;bigger picture,&rdquo; such as &ldquo;are the placemaking needs of our community different and how are they likely to evolve.&rdquo;

&ldquo;Inclusiveness does need more of a conversation across the property industry and [I] think it is starting to happen.&rdquo;

[smartcode_project:default project_id=29358]

Urban sits down with four change-makers transforming the face of the property industry to discuss the importance of queer visibility

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LGBTQI+ Leader Series: Four change-makers transforming the face of property

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GUEST OBSERVER
Recent announcements by both major parties suggest the long-held bipartisan consensus over negative gearing is finally breaking.
While we can expect anguished cries from the property industry, the two proposals for reform point to just how deeply flawed negative gearing is, and why neither change goes far enough.
The proposals point to two deep contradictions at the heart of negative gearing: it is designed to deal with housing affordability (that is, demand for housing is higher than supply) by increasing demand; and it is a policy to encourage savings, that simultaneously encourages debt, and rewards those who already save far more than those who find it difficult to save.
First, though, it’s useful to clarify what negative gearing is. It’s a tax rule that allows investors (not only property investors, but mainly property investors) who run their investment at a loss to claim that loss against their other income.
Why would a rental property run at a loss? Usually because the investor borrows most of the purchase price, and interest repayments on the loan (mortgage) are higher than the income (rent).
In most other countries this would mean the investor did not have to pay tax on the rent they received. But it would not allow them to reduce the tax they pay on their other (usually wage and salary) income. Australia is an exception.
So negative gearing encourages people to invest in property, and it particularly encourages them to invest by borrowing most of the price of the house. It might already be obvious why this is a very odd kind of housing and investment policy, seemingly designed to encourage people to over-extend and expose themselves to big risks if property prices were to fall.
<h2>A false fix for affordability</h2>
However, the property industry has long argued that negative gearing helps housing affordability, particularly for renters, by expanding the supply of rental housing. Yet, as opposition treasury spokesman Chris Bowen has recently argued, 93% of negatively geared properties were existing stock – the new owners simply bought them off someone else.
Labor’s policy is to restrict negative gearing to new properties. And given the current policy setting, that is likely to have a positive impact.
But think for a moment about the logic of “increasing supply”. Negative gearing is not a subsidy for builders, it’s a subsidy for buyers. That’s right. The problem is one of too many buyers willing to pay high prices, and negative gearing is designed to create more buyers willing to pay more.
Of course, Labor’s policy will restrict the increased demand to new housing stock. But it highlights a deeper problem in the housing market.
Private developers increase supply only if it is profitable, which is usually when prices are rising. If supply were increased without increasing demand (for example, by direct government investment) that would likely contain rising prices. Doing so through the market, however, simply recreates the existing problem.
<h2>And what about rental prices?</h2>
Critics would argue I am focusing only on housing prices, not rents. Negative gearing is designed to lower rents by allowing investors to rent at a loss. The problem here is that renting at a loss is still a loss unless something else is going on. That something else is capital gains.
Negative gearing only makes sense as an investment strategy because investors make their real money by buying low and selling high. So it works only if house prices are increasing. To the extent it contains rents it only does so “relatively”: rents rise less rapidly than house prices, but both go up because of the scale of new demand.
In some market segments (especially the bottom end) new supply can make things worse. Indeed, “new supply” often increases rents because it demolishes older, cheaper housing to make newer, fancier and more expensive housing. On this score, the best part of Labor’s announcement is the reduction in the tax concession for capital gains. 
Negative gearing’s other claimed benefit is that it encourages people to save. In practice, this “saving” is coupled with large new debts.
This is a serious economic problem because it means tens of thousands of Australian households have been encouraged to take on debt that they might not be able to sustain if house prices fall. And that means governments are forced to keep house prices high to avoid serious economic consequences – as the Rudd government did by increasing first home buyer grants during the GFC.
Second, negative gearing is a tax deduction. That means the higher your marginal tax rate, the more you get. Someone on $200,000 will receive about half their loss back. Someone on $30,000 will only get about a fifth.
So the rewards for saving are much greater for high-income earners (who already save a lot) than for low-income earners (who struggle to save).
This helps explain how two apparently contradictory claims are both true. Most negatively geared investors are mums and dads; nurses and police officers. Yet most of the gains from negative gearing go to the very top of the income distribution.
This is because most of the gains go to a small subset of investors with lots of properties and on very high incomes. The “mums and dads” get a relative pittance.
<h2>Much more needs to be done</h2>
The government seems to know it can raise significant revenue and target only a small group of investors. It can leave the mums and dads alone and still correct most of the inequality and expense by putting a cap on how much any one investor can claim. How far it actually goes remains to be seen.
So both proposals do good things. But once you understand the problems they are meant to resolve, you realise it is almost impossible to make negative gearing “good policy”.
Neither plan “fixes” the problem. They are mitigation at best.
Maybe we can see them both as first steps. After all, with so many investors so heavily indebted, any policy that pulled the rug out all at once has serious economic risks.
We can only hope these policies are the first instalment. Governments serious about housing affordability will also need to invest directly in new supply by funding social and affordable housing. 
Ben Spies-Butcher is lecturer in economy and society, Department of Sociology, Macquarie University and author for The Conversation.
He can be contacted <a href="https://theconversation.com/profiles/ben-spies-butcher-145" target="_blank">here</a>.
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A first step on negative gearing, but not much more

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The REIV is embarking on a comprehensive consultation process with members in a bid to address underquoting.
The Institute will gain valuable input from members on a suitable outcome which will drive industry-wide change and best serve the interests of consumers.
Industry input would be received via a member-wide, online survey and through forums in key regional centres in the next fortnight. 
We are committed to ensuring this issue, which is clearly impacting on members of the public, is addressed in a timely and effective manner.
Poor price quoting is a symptom of a broader, more important issue – the educational qualifications required to practice as an agent in Victoria.
We currently have a situation in this state where a Certificate III is all that is required to sell or manage real estate.
This is the same level as that required to work in hospitality – as a waiter or barista.
There are also some registered training organisations (RTO’s) which are offering a full licensed course (Certificate IV) in just five days.
These fast-tracked courses are clearly impacting on the industry, and creating poorly trained, inadequately qualified real estate agents.
The agents receiving this training are a significant threat to consumers.
The Institute would continue to press for the introduction of higher educational qualifications.
‎Enzo Raimondo is chief executive officer of <a href="https://www.reiv.com.au/" target="_blank">The Real Estate Institute of Victoria</a>.
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Price quoting issue needs to be addressed: Enzo Raimondo

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The Property Industry Foundation (PIF) is set to raise some $600,000 this month from two of its core fundraising events which will be channelled into programs for at risk and homeless youth, including the Foundation’s own PIF House initiative.
The Middle Harbour Yacht Club recently hosted the Yachting Regatta in Sydney on 11 March, 2016.  
This week, the Foundation will hold its Sailing Challenge at the Royal Brighton Yacht Club with around 40 yachts expected to participate. The Property Industry Foundation (PIF)’s annual Charity Sailing Challenge will be held on Friday 18 March to raise funds to support homeless and at risk young people in Victoria.
Sponsored by Brookfield, the Charity Sailing Challenge was held at the Royal Brighton Yacht Club with a Jamaican themed after-party featuring live entertainment.
Special guest skippers on the day will include America’s Cup Skipper John Bertrand AM and fellow Sailor and Rio Olympics Gold Medal hopeful, Lisa Darmanin.
Around 40 registrations have been received with high-profile participants including APN Group, Brookfield, Brookfield Multiplex, Cedar Wood Properties, Charter Hall, Colliers International, Dennis Family Corp, EY, Frasers Property Australia, Hacer Group, Hayball, Investa, ISPT, Knight Frank, Macquarie Capital, Mirvac, Napier &amp; Blakeley, Probuild Quintessential Equity, Urbis and Vicinity Centres.
“It provides the industry with the opportunity to engage, network and have some fun whilst making a significant impact into the lives of at risk youth,” said Daryl Browning, chairman of PIF Victoria.
Funds raised will be channelled into programs for homeless and disadvantaged youth, including PIF’s own PIF House initiative.
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Sailing towards a brighter future

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Paul Craig has taken over as chief executive officer of Savills Australia and New Zealand following the appointment announced in November 2015.
He was previously Savills managing director in Western Australia and head of Cross Border Investments.
Savills Chief Executive Officer Asia Pacific, Robert McKellar, said clients and staff have welcomed the promotion of Mr Craig as the obvious successor to lead Savills Australia &amp; New Zealand. 
“Paul has an outstanding track record in capital transactions and cross border deals, bringing a global perspective to the role, and a determination to further grow our footprint in both Australia and New Zealand over the next five to 10 years,” he said.
“The foundations we have built up over the past decade are strong and we acknowledge the great work undertaken during that time by the outgoing chief executive, Paul McLean. The time is right for us to move to the next stage under Paul Craig’s leadership.”
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Paul Craig commences as CEO at Savills Australia & New Zealand

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The Real Estate Institute of Victoria’s conference later this month in Melbourne will celebrate its 80th year. 
The Ignite Conference on 24-25 July at Crown Conference Centre will see real estate experts share their insights on sales and leasing.
Attendees will see some of the state's best auctioneers as they compete for the title of 2016 REIV Senior Auctioneer of the Year.
The winner will be announced at the 80th anniversary gala dinner on the first night of the conference.
Among the eight keynote speakers at the conference are Paul Zahra (ex-CEO David Jones), Mark McCrindle (demographer and trends expert), media specialists Todd Sampson and Jane Caro. 
Details of the event can be viewed on the REIV website - www.reiv.com.au/ignite2016.
 
 
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REIV 80th year celebration to feature industry experts

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SPONSORED POST
At realcommercial.com.au, we want to celebrate our industry's success and achievements, and that means your success and achievements.
That’s why we’re excited that REA Group AREAs are back in 2017 – bigger and better than ever before.
The AREAs are a unique awards program that honour the most innovative, community-minded and highest-achieving individuals and businesses across the property and media industries. Awards include Innovation, Community, Service and Marketing Excellence categories and encompass the entire property industry (residential, commercial, project developers) as well as those working in media.
This year a brand new award has been introduced – the Gold AREA – Agency of the Year. The Agency of the Year award will recognise agencies who work hard to set themselves apart from competitors and excel in all three award categories. 
Have you submitted your AREAs entry for 2017? We're looking forward to celebrating your success and achievements – but you need to get your submissions in by 30 June 2017.
If you need some inspiration to help with your submission, you can view the <a href="https://theareas.com.au/winners-tab/winners" target="_blank">2016 AREA winners here</a> including:
<ul>
<li>Burgess Rawson: Brand Campaign of the Year – Commercial</li>
<li>
CBRE Melbourne: Campaign of the Year Award – Commercial 
</li>
</ul>
For more information about the 2017 AREAs and how to enter, <a href="https://theareas.com.au/categories-criteria/the-award-categories" target="_blank">click here</a>.
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Are you our Agency of the Year? REA Group AREAs submissions close 30 June 2017 

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The real estate industry is set to shed up to 25 percent of its workforce, according to the REIA, as the property market rebalances after five years of strong conditions especially in Melbourne and Sydney. 
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Real Estate Institute of Australia president Malcolm Gunning said the shedding of jobs was inevitable.
“What we see is a lot of opportunists come into the market when it’s a bull market, and yes we will see jobs shed because we will see less turnover of property,” Mr Gunning told The Australian.
“This is really a market for experienced real estate agents and I would expect about 20-25 per cent of our residential agents will leave.”
Mr Gunning predicted that low-cost operators would be among the first to go as the “momentum swung back to full service agencies”.
“Low-cost operators really can’t afford to put a lot of resources behind them, and people will quickly get sick of paying a fee up front and getting no results,” he said criticising the low-cost operator as one "who lists and waits for the inquiries.”
Mr Gunning said this week’s earnings downgrade by the McGrath agency could be seen as a “reference point” to the shift in the property cycle when the agency issued a downgrade based partly on the market slowdown.
“John (McGrath) floated at the pinnacle of all the hype surrounding the property market; he picked the sweet spot very well,” Mr Gunning said.
“That will always be a reference point as to what was the high water mark for that period.”
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Standby for 25 percent estate agent job departures expected by REIA

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MMJ Real Estate has announced the further growth of its national commercial network with McGees Sydney office merging with MMJ Sydney’s business.
MMJ currently comprises six offices in Sydney, Melbourne, Brisbane, Perth, Canberra and Wollongong.
MMJ Real Estate chief executive, Chris Johnson announced the merger.
Ian Dimond, who has managed McGees in Sydney for over 20 years, will join MMJ Sydney’s current directors Cameron Algie and Chris Johnson, in driving the continued development of MMJ throughout New South Wales.
The McGees' clients include many Australian and international corporations, as well as government bodies, private investors and the legal fraternity. 
Other senior operatives who will join MMJ Sydney as part of the merger include Tony St Leon and Callum Macgregor.
The MMJ network also residential offices located in Wollongong, Illawarra North, Illawarra South and Dapto.
Picture above L-R: Cameron Algie, Chris Johnson, Ian Dimond.
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