Building tomorrow's real estate leaders    

It’s an opportunity for younger staff members to step up to more senior roles or into business ownership, but to do so they’ll need to improve their leadership and communication skills and adapt to the rapid pace of technological change.

A changing of the guard

Kerryn Saward, General Manager for Business Banking Growth and Transaction Banking at CommBank, says this transition represents one of the most significant shifts the real estate industry has faced in decades.

“We’re seeing more principals and agency owners thinking about what’s next. Not just for themselves – but for the legacy of their businesses,” Saward says. “That creates a real opportunity for emerging leaders to take the reins with fresh ideas and a more modern approach to leadership.”

“We’re seeing more principals and agency owners thinking about what’s next. Not just for themselves, but for the legacy of their businesses. That creates a real opportunity for emerging leaders to take the reins with fresh ideas and a more modern approach to leadership.”
— Kerryn Saward, General Manager for Business Banking Growth and Transaction Banking, CommBank

For Leanne Pilkington, CEO of Laing+Simmons, who has spent 30 years with the agency franchisor, the arrival of new leaders offers a valuable opportunity to refresh the management style that colours the real estate sector.

She shares that a generation ago, the ‘command and control’ style of leadership was the norm where leaders told staff: do as I say, because I said so.

“That just doesn't cut it anymore. You've got to be able to inspire and empower your people. Nobody wants to be micromanaged; they want to be heard,” says Pilkington, who is also Immediate Past President of the Real Estate Institute of Australia (REIA).

If the next generation of leaders wants to successfully guide their teams, Pilkington says it’s vital that they master their communication and interpersonal skills. They need to create the vision for the broader organisation and get everybody on board, Pilkington shares.

Avi Khan, Principal at Ray White AKG, agrees that technical skill alone is no longer what defines strong leaders.

“The best leaders are learners first. They’re curious, coachable and comfortable making decisions,” he says.

He notes that the pace of real estate now demands leaders who can also analyse information quickly and respond with confidence.

What skills will future real estate leaders need to succeed?

While there are lots of leadership courses available, few are specific to the real estate sector. 

Pilkington emphasises that future leaders need compliance training to stay up to date with changing requirements, such as the inclusion of the real estate sector in the expanded anti-money laundering regime by 2026. She stresses that businesses will need leaders who can ensure compliance is well managed as teams adapt to new procedures.

Additionally, future leaders need specific training on how to deal with people during one of the most stressful times of their lives – when they’re buying, selling or renting a property. There are times where clients won’t necessarily bring their best selves to the transaction.

“As agents and property managers, we need to be really skilled communicators. We need to be really good at dealing with conflict. We need to be really brave in having what might be difficult conversations, because sometimes we've got to give people bad news, and that's not easy,” Pilkington says.

“As agents and property managers, we need to be really skilled communicators. We need to be really good at dealing with conflict. We need to be really brave in having what might be difficult conversations, because sometimes we've got to give people bad news, and that's not easy.”
— Leanne Pilkington, CEO at Laing+Simmons and Immediate Past President of REIA

Khan says empathy is becoming a defining advantage for modern leaders, not only for internal culture, but for client relationships. “Clients, teams and communities, they expect more,” he says.

He notes that teams increasingly look for leaders who listen, communicate openly and build trust — not leaders who rely solely on performance metrics.

“People want a leader that will be in the forefront with them, rather than someone who's just got a business card saying leader or principal.”

Future leaders also need training in how to manage a highly-paid and very independent workforce and they need to do so in such a way that it’s productive for the entire team, not just the individual. 

The tools helpful for leading

The industry may overlook leadership training because people take on more senior roles gradually. Agents take on an assistant/buyer’s agent as they become more successful, and because their team is only growing by one or two people, agents feel they don’t need leadership training.

“As an industry we need to do more, but getting people to understand that they need it is the challenging part,” Pilkington says.

For her part, when Pilkington was appointed general manager of a franchise a few years ago she went back to university to do an MBA, where she learned important skills in finance and business planning, along with how to read a profit and loss statement.

Pilkington says “another skill future leaders will need is an understanding of artificial intelligence and how it can be used in business.”

“Pilkington suggests adopting an AI first mindset and encourages the industry to reimagine what they do through an AI lens to unlock the power of the technology.”

Khan says the most effective leaders won’t fear AI — they’ll use it to elevate human capability.

“The agents who are likely to be effective will combine the speed of AI with human judgment, empathy and negotiation.”

The process requires a thorough and thought-out approach, he stresses. “You can’t just bolt on software or bolt on AI.”

Building trust and opportunity

Melinda Jennison, President of the Real Estate Buyers Agents Association of Australia (REBAA), agrees that AI will present opportunities to run real estate businesses more efficiently, but says AI processes should be kept in the background.

“Agents that continue to thrive – and certainly those who lead – will lean more into the human elements of the service; the relationship-based elements,” she says. “More and more consumers are wanting human interaction. People don't want to speak to robots.”

“[Real estate] Agents that continue to thrive – and certainly those who lead – will lean more into the human elements of the service; the relationship-based elements.”
— Melinda Jennison, President of REBAA

Jennison adds that at open homes, buyer’s agents say the experience is much more enjoyable for clients when a real person is available to engage and answer questions, instead of leaving them to rely solely on a QR code.

She highlights that buyer’s agents need training in how to guide clients through the purchasing process. This has become particularly important since buyer’s agents have been able to work across states, as each state has different legislation governing the sale of property.

What’s next in real estate leadership

“We’re seeing many business owners in real estate starting to think seriously about succession,” says Kerryn Saward, General Manager for Business Banking Growth and Transaction Banking at CommBank. “The most successful transitions are the ones planned early — where leadership and ownership handover happens gradually, giving new leaders time to learn and build confidence.”

Khan agrees, sharing that preparation must begin long before anyone formally steps into a leadership role.

“You have to start thinking like a leader before you become a leader,” he says.

The real estate principal encourages emerging leaders to understand cash flow, learn from experienced principals and gain exposure to recruitment, governance and compliance. Khan also notes that leadership goals should be motivated by developing skills, not simply a desire to climb the ladder.

“Instead of chasing a title, I would say to future leaders: chase the mastery of becoming a leader first,” he says.

These foundations, Khan says, are what enable a smooth and sustainable transition for the business, its clients and its people.

“Handing over management isn’t just a leadership shift, it’s a financial one too,” Saward adds. “Preparing the business structure and cash flow for a change in ownership is essential to ensure continuity and protect long-term value.”

“Handing over management isn’t just a leadership shift, it’s a financial one too. Preparing the business structure and cash flow for a change in ownership is essential to ensure continuity and protect long-term value.”
— Kerryn Saward, General Manager for Business Banking Growth and Transaction Banking, CommBank

With new technologies and expectations reshaping the industry, the next generation of real estate leaders has an opportunity to drive meaningful change; creating more connected, resilient and customer-focused businesses.