2020- A year of unlearning!

Unprecedented will be the most overused word of 2020.

It has been an extraordinary year. We have experienced bush fires, black lives matter protests, Trumps tweets and election loss, the terrible explosion in Beirut, lockdowns, mask wearing, home schooling, Zooming, loss of young and old to COVID-19, challenges around weddings and funerals and the desire to ensure that we have enough toilet paper to take us into the next century.

Lining up for COVID-19 tests became a norm for 2020

As I reflect on the year that was, I acknowledge that most importantly it has given me an opportunity to slow down, stop and re-evaluate what I care about. I have created rituals, found space and been more present than ever for myself and others.

Collectively across the world we have rallied together in support of Black Lives Matter, pushing for long overdue change. As a woman of colour I have more hope today than ever before that this time we will make a lasting difference.

However perhaps the most exciting moment of 2020 was the confirmation of the first woman of colour Vice President who happens to share the same name as my mother 😊and who can forget this look. So many of us have had the same looks from our Indian mothers and aunties.

My 2020 goals are still up on my shower wall. They remain there as a sign of defiance on a year that also took away much.

It was going to be an EPIC year as far as I was concerned. I was going to have energy and focus on achieving what I wanted, increased connections with my tribe, travel and time out.

A year ago, when I wrote these, I had no idea how much 2020 would take away.

Personally, it has been a year of exhaustion, loss, heartbreak, unrelenting grief, anger, disbelief and I am weary to the bone.

The sudden and unexpected loss of my dad, a man on whose shoulders I have stood for 54 years, my hero, gone. Never to hear his voice, or his laughter, the crazy jokes or memes and to have a whisky or two solving the worlds problems.

I have learnt that grief is different for everyone, it is unrelenting yet somehow, we find ways to cope. Often through stories, laughter, tears, anger and time with those who matter the most.

Death is a lonely journey and the humanity and kindness of our front-line workers cannot be underestimated. Their understanding and my collective family is what got me through the darkest, hardest moments of 2020.

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I miss him every day

From a business sense it has been a mix of achievement, change, unlearning and deeper connections. COVID-19 has changed how we do business and will continue to do so. Our Harcourts Move team pivoted quickly, we remained connected during the hardest lockdown, kept learning and pushing forward.

I made the decision to change jobs mid pandemic… yup I know who does that! I moved from Harcourts to Real Estate Industry Partners (REIP), we are a collective of industry leaders who are committed to empowering the industry, transform how we connect and engage with clients, providing innovations for agents and operational excellence for businesses. More on this in 2021…. many exciting projects to be announced.

With my co-host Div Pillay we launched our new podcast Business in Colour, born from Black Lives Matter movement. We are two women of colour, having conversations with leaders and allies who understand diversity is a philosophy that leaders must have. Thank you to everyone who has supported us on this journey. We are taking a short break and season two will be back on air in late January with a stellar line of up guests.  

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You can find us on Spotify and Apple Podcasts, subscribe and share with your tribe.

One must acknowledge the other powerful lessons that have been learnt during 2020.

The pandemic threw many challenges at us however it has also allowed us to embrace change and move out of our comfort zones.

The virtual world of conferences, meetings, drinks with family and friends, walks with loved ones quickly became the norm. It was wonderful to see that we will do whatever it takes to remain connected to each other.

The currency of trust became critical, our team was able to deliver award winning results while working remotely. As a leader I had to trust that they were ok, and they would ask for help as needed.

In a toss everything we believe we cannot live without – gyms, shops, movies, restaurants – all gone. That in the end it is my own home and family that keeps me safe and fulfilled.

More importantly that I need to slow down, the pace I kept prior to 2020 was unreasonable and unhealthy. Self-care, mental and emotional health is critical, simply saying no needs to continue to be a priority.

2020 has been a year that has given me the happiest and most heart-breaking moments I have ever experienced.  I have unlearnt a lot!

Until 2021, stay safe, stay connected

Its all about Jobs!!

To quote Federal Treasurer Josh Frydenberg “this budget is all about jobs”. The Morrison Government has committed to spending huge amounts of money across multiple sectors to  boost business and consumer confidence.

Income tax cuts, instant asset write-offs for businesses and the JobMaker scheme are just a few of the latest incentives that will get the economy moving again in the first half of 2021.

And the stimulus is sorely needed, with economic forecasts predicting the Australian economy will contract by 3.5% this calendar year with Victoria feeling the impact at 7%, due to the coronavirus-driven recession.

Corelogic also predicts that the overall Australian market dwelling prices will drop by 5% between 2020-2021 with Melbourne facing the biggest decline of up to 7%.

A reduction in net overseas migration over the next few years means that our population growth will be at its lowest level since 1946, taking more than four years to recover to pre-pandemic levels, as revealed in the budget on Tuesday.

Victoria’s migration boom is now non-existent and it is having a direct impact on the housing market. Foreign students who rented apartments in the city or near universities have not returned. Investors with vacant properties are having to drastically reduce rents and provide rent-free periods to attract tenants. Overseas migrants were purchasing or renting homes in key growth areas of Melbourne and regional Victoria, but now they cannot enter the country.   

Melburnians are also flocking north to Queensland – where migration rates for the capital Brisbane are at a national high.

And we are still waiting to see the exact outcome deferred mortgage repayments will having on the housing market and overall economy. There is more than $180b worth of home loans and $55b in business lending on hold, according to Westpac Group.

No lending institution wants to be the first to start foreclosure on clients and banks will undoubtedly work with lenders to find viable loan repayment scheme.

If there is an urgent need to sell, vendors should seek out their local agents and brokers and understand how they can transact on their own terms.

But the removal of the responsible lending guidelines may help keep the market buoyant amid the doom and gloom.

Westpac is reporting  a slight uplift in lending to first-home buyers, upsizes and investors, who will soon be less scrutinized by the banks and armed with more purchasing power.

According to Vicky Devine, CEO of Mortgage Express, “there is strong appetite in consumers preparing for post-pandemic purchasing, specifically from first-home buyers and upsizes, as we reassess our working conditions (flexibly from home to office) and family values”.

She predicts that families will take advantage of conditions and make the move, seeking out more space and the ability to ‘isolate’ comfortably. .

Homeowners will also take advantage of record low interest rates and further predicted cuts in November.

As the government pours financial stimulus back into Australian pockets, it will be interesting to see how many people choose to save or spend.

But analysis aside, the bullish budget hinges on an essential ingredient – access to a coronavirus vaccine. Here’s hoping this crucial cure is found very soon.

Freedom to view, select and move homes is critical in Victoria

We all know that shelter is a basic human need – one of which the real estate industry predominately provides. And right now, shelter is critical to provide a safe-haven from a global pandemic. Yet, what I don’t understand is how the State Government has not considered this an “essential service”.

I have recently taken over the role of CEO for REIP, we represent some of the largest agencies nationally and our goal is to work together to improve industry leadership, sustainability and innovation.

We understand the state government is in a difficult position as they attempt to address the many issues our lock-down state is facing. Their every move and decision is under enormous scrutiny, and we support the need and necessity for ongoing restrictions, within reason.

We have been working with strict guidelines since March this year. We have followed every measure and every rule that was asked of us. The industry adapted to the changes by diverting public open inspections to private and digitalising auctions. For many it proved successful and some may continue these processes in the long-term.

Our leasing agents booked in one-on-one private inspections with prospective tenants and fast-tracking application approvals to get them moved in. 

To date, I don’t know of any COVID-19 cases that have occurred as a result of private inspections. We can and have provided contactless and private vacant home inspections for both rental and for sale properties, while complying with social distancing and hygiene measures.

Our call to meet with Government leaders is about ensuring that Victorians can seek and change shelter by allowing them to inspect potential properties for sale or rent.

Being asked to make such a decision based on a virtual tour is not reasonable. It carries enormous risk, heightened stress and will create financial strain if the property isn’t suitable once possession is made. We all know moving home, whether you are selling or renting, is a decision that is never made lightly or without high stress levels.

However, our greatest concerns are our clients, their needs, and our inability to help them in a time of difficulty.

There is a growing number of hardship stories from clients needing to move home, sell, buy, rent or lease. From job loss, interstate relocation, high rental fees to death, divorce, domestic violence – and the list goes on.

I know our industry will adhere to stringent guidelines on contactless private inspections, because our priority is also our people who work in our businesses. We need to keep them safe as well.

We are calling on the State Government to understand these needs and the urgency around these kinds of requests, which will not only benefit the community but aid in our economic rehabilitation.

There are families and singles of all ages and demographics who need to move house during these circumstances and it is beyond unreasonable to ask them to make such a huge decision with simply a virtual tour.

We have investors whose properties have now sat vacant for six weeks and they are feeling the pinch, for some it is their primary income.

I find it frustrating when I hear that display homes can remain open for private inspections. What is the difference between this and a vacant property for sale or rental.

I fail to understand how I can go to the shops, surrounded by more people than I can at a private inspection, and that is ok?

An average inspection lasts no more than 20 mins. The agent can wait outside, in the car or in another room and be more than 1.5 meters apart from the client. We can ensure there is only one person attending the private inspection and a permit is provided for a specific date and time. We can record details for easy contact tracing if necessary, and of course, provide hand sanitisers and wear gloves and masks.

These are more precautions than other industries are practicing, such as construction, yet, we are not able to conduct private inspections or online auctions.

I understand there has to be a line drawn, decisions have to be made and exceptions are limited. However, I would ask that the Government provide us with the opportunity to discuss how we can facilitate a safe environment for our people and our clients to help them move.

Lessons from the Military

I recently read an interesting Harvard Business Review article on crisis leadership. The reality is that pre-COVID-19 many leaders had never faced a major crisis in their business so there was no planning or rule book to follow.

None of us have ever faced a pandemic yet employees, clients, people were looking at their leaders in business and Government for decisions, guideance and advise on exactly what they can and can’t do.

I remember the first week writing down “what would I do if someone in my team got COVID-19 amongst many other questions. Here is the picture of the notes I first wrote which became part of my COVID-19 Crisis Plan all of which gave me comfort and confidence on the decisions I was making. How many of you did the same thing?

In this article I read they talk about looking at the military for lessons in crisis leadersip, why - because most military leaders are faced with multiple life or death crisis situations.

There were 8 key areas or attributes for leaders to focus on

1. Be Decisive

I have to say that this is probably one area that has really shown up leaders who are good at making decisions under pressure without all of the information, outwardly confident in these decisions even if they may not have been feeling it.

These are leaders who don’t need to take every person on the journey before they make a decision, their ability to be decisive builds trust and people go on the journey with them because of this.

Leaders who are decisive will not dwell on the losses, or things they may have got wrong, rather they will acknowledge, regroup, plan and take action.

2. Be in the trenches

I love this one, don’t be a leader who is not on the front line with their people. If they are out doing opens, meeting people then you need to do the same. When you are in the trenches with them you get a feel of how they are feeling, coping, what they are concerned or fearful about.

In the first few weeks my team were starting early and finishing late, we were all exhausted, I started to hear conversations about shopping late with no food left on the shelves, so I made sure that over the next few days they went to the local market in the middle of the day to stock up on food. This removed the stress and anxiety they were feeling around this situation.

I could hear the conversations they were having with tenants who wanted rent reductions, asking them to follow the process and perhaps the most difficult listening to their stories, giving them to time to tell it, showing empathy yet still taking the right commercial decision for all parties. I was able to provide support, advise and drinks to get through this time.

Being in the trenches also means you can have a positive impact on their moral often simply because you are there.

3. Be agile

We like to assume we are agile, until it is tested.

Pre COVID-19 I did a survey of the industry of over 1000 offices 25% were not on a cloud system, 84% did not outsource, 66% were not paperless, 65% had outstanding maintenace issues, 66% had outstanding lease renewals and rent reviews, 77% of property managers were highly stressed with client expectations the cause of most of the stress.

There is no way a business can possibly be agile operating under these conditions.

COVID-19 has forced a lot of businesses to take up technology options such as virtual tours and routine inspections, Cloud Platforms, becoming paperless, outsourcing - none of which is innovation because it existed prior to COVID-19.

Leaders and teams made the choice not to use available technology and some businesses are still making this choice - why - because they were busy before but now they just want to get through “this” before the make any major changes.

Reality is they will probably never be ready and their ability to be agile, nimble, pivot fast will continue to be impacted until they are no longer competitive.

Agility is a choice, leaders have to understand this may make people uncomfortable, but they cannot hold a business back. Leaders who drive agile businesses will the ones that continue to thrive as we work our way through this period and beyond.

4. Be confident

I know how hard this can be.

At the height of COVID-19 I was having to get across 7 different pieces of legislation, put out content and answer questions. There were days where my phone did not leave my ear and I was literally taking calls in the toilet :-(.

I did all of this calmly and with confidence, imagine if I hadnt what the outcome would have been for the people who were looking at me for answers and my leadership brand.

Part of confidence I believe is the ability to make quick decisions based on available facts. In a crisis you often can’t wait until someone else has made a decision before you take one or copy it. One of the most fustrating elements can be working with leaders who are incapable of making decisions under pressure and either wait till someone makes a decision for them or enough people agree with the direction.

Confidence and agility are symbiotic, if you have the confidence to make a decision and it isn’t correct your ability to be agile means that you will be able to pivot quickly and change direction.

5. Communicate

I learnt early on in my career that if you can communicate clearly, regularly, authentically and have fun along the way people are going to connect with you and the message much more .

Communication in a crisis is critical, you cant be too positive, you cant be too negative nor can you be heard too often. It has to be consistent, regular communiation that gets peoples attention and they tune in to your message.

It is also important that subject matter experts do the communicating. The Government was the perfect example in this. Everytime Scott Morrison addressed the country he had his Health Team by his side.

I picked three consistent sites to get my message out and so people knew that when I posted something it was important for them to read or watch it.

I kept my communication relevant, informative and to the point. I didn’t over re-assure, I acknowledged the uncertainity and made sure that the content of what I was sharing enabled people to take decisions in their businesses.

7. Who is leading and who isnt

This is an interesting one as some people will step up in a crisis and you will see them almost thrive whereas others won’t cope at all.

You can increase the load on those who are stepping up as you closely manage those who are not coping and perhaps become much more directive in your management of them.

Often a sign of not coping is high levels of emotion, not being able to make decisions on tasks that they perviously had easily made or not engaging with the team on what needs to be done.

Even those who thrive in a crisis will need support and leaders need to be tuned into when this is needed.

If you can do this successfully it will mean that you business will continue to move forward as you have the right people driving it

8. Rest

We are all starting to feel the strain, its a bit like ground hog day, especially here in Victoria. As leaders yes we need time out however more importantly we need to make sure our people have time out as well. Give them a day off, have them split their time between work and home if that works for them, time off for school holidays etc

People will not want to take lengthy annual leave days because there is no where to go however they need re-energising days. Any sporting coach will tell you to rest your top performers on a regular basis so that when it is time to bring the game home they are rested and ready to do so.

If what has happened in Victoria is any indication, being ready for second or third waves maybe something we may just have to learn to cope with.

I have documented much during this crisis and as we go between the different stages or lockdowns I can easily refer back to my COVID-19 notes to assess what we have done in the past, what worked and what needs to change this time.

I have learnt so many lessons and what I do know is that I am changing as a leader and so is my team.

Today we work with higher levels of efficiency, agility, flexibility and fluidity that we didnt have before.

We make decisions based on what we know at the time, we are much better communicators, we care more for each other and we have a much better work life rythum.

These are great changes and I know we have many more to come and I look forward to the day when we can look back on this time and wonder what life and business would have been like if COVID-19 had never happened.

Each for Equal 2020

Happy International Women’s Day 2020. Another year of celebrating women’s empowerment and this year’s theme is each for equal.

To me this theme is about making empowerment everybody’s issue, challenging assumptions, bia’s the status quo and most importantly ensuring that men and woman collaborate and work together to achieve equality.

Every year I am challenged by someone about why we need IWD day. The best way I can respond to this is to share data from my 2018 Ambition survey.

This was an industry first survey with over 200 responses, we know that the issue of equality, parity and diversity is one that will be solved if men and women work together, when leaders make deliberate decisions on who they hire and promote and most importantly are unaccepting of inappropriate behavior.

According to the survey some of the issues that women are facing are conscious and unconscious bias, bullying, parity, balancing work and family, lack of respect in the workplace, managing stress and loss of confidence; sadly none of these behaviors lead to equality.

We all know that one of the ways that we can start to make changes is to promote women into executive or leadership roles.

According to the survey 70% of women were interested in directorship or shareholding however only 36% had opportunities to buy in. Opportunities are either nonexistent or women simply are overlooked. Interestingly 83% were interested in a leadership role yet we have a distinct lack of women in such roles across the country.

Alarmingly over 52% of the women who responded had experienced inappropriate behavior in the workplace. We have recently seen many women share their experiences on this issue, my call to leaders is that the standard you walk past is the standard you accept. Make sure that if behavior is being reported to you on an ongoing basis that you pay attention or if you see it you call it out.

With each for equal being the IWD theme for 2020 let’s review what women are saying on how leaders and other women can work together to change the current paradigm

Understand women’s ambitions

Our survey showed that only 22% of respondents actually have a business plan, if leaders are not sitting down and understanding what women in their organization want then you won’t connect or understand their ambitions.

Women often require support, sponsors to open the door for them to step through into leadership roles. For many women in our industry who are in leadership roles today, a male leader opened the door for most of them. Imagine if this became the norm across the industry?

Equal billing at conferences

I recently saw a well-known trainer running an all-male leadership panel, imagine if those same men had asked the question – have you got a female leader, I can suggest a couple to you who would be great to bring a different perspective and point of view to the discussion.

Acknowledge there is an issue

How can you not? We don’t see women in leadership roles, and what you can’t see you can’t be. The future generations will demand this, and companies will lose talent if they don’t make these changes.

Women need to step up as well

We need to find a way to step up, to ask for what we want, and if we don’t get it to have the courage to find it elsewhere. If you are talented someone will recognize it and give you a place to belong to.

The boys club

The boys club exists because leaders allow it to. By not making deliberate hiring decisions, accepting inappropriate behavior and not promoting talented women into leadership roles we do become the boy’s club.

To change this, we need to keep the conversation going and men and women need to stand together to accept that this is an issue, the lack of diversity and parity is unacceptable and agree on how change can be made.

Each for equal is a great theme. It should make us reflect on if we don’t want equality and parity for each other than what do we want – inequality?

That if we don’t step up and make these changes now, our industry will become less attractive to talent.

Equality in our workplace and community is something that we are all responsible for. Happy IWD day.