REIP Inside Real Estate – 12th July 2023 - Real Estate Industry Partners

In the fast-paced pressure cooker of property management, mental health and wellbeing often take a back seat – but the reality is there is a direct link between mental wellbeing and an agency’s bottom line.

According to Antonia Mercorella, CEO of the Real Estate Institute of Queensland (REIQ), ‘Failure to address mental health in the workplace can have serious consequences not only for the individuals involved but for the entire organisation’.

Some of the most common consequences of ignoring the need for a mental health strategy include:

Staff churn
Productivity
Morale and engagement
Brand damage
Legal risk

REIP Partner HD&U conducted a case study in March 2023, comparing two nearly identical Property Management team under stress who reached out for help to manage a team culture and wellbeing crisis.

Ultimately, one of these businesses decided to continue to focus on ‘business as usual’, while the other embraced a proactive approach to tackling mental well-being in their office.

Unfortunately, the ‘business as usual’ approach led to the resignation of the whole PM team, profit reduction and putting the business up for sale.

The business who took care of their team’s mental health were able to improve their culture, increase performance and reduce stressors.

The decision you take in your agency is clearly a sliding door opportunity and you can read the full case study here.

If you’re serious about your agency’s future success, an investment in the mental wellbeing of your teams is not really a choice – it’s a must.

One of the best decisions you can make today is to register yourself and your team members for the leading mental wellbeing conference in our industry. RiSE 2023 is being held in Melbourne on 29 August. You can grab your tickets here.

I look forward to seeing you there.

Until next time.

Stay connected,