Real Estate Under Scrutiny: John Minns’ Plan to Restore Integrity

Update: 2024-07-07

Description

How can integrity be restored in an industry often criticised for its ethical shortcomings? In this episode, we sit down with John Minns, the NSW Strata and Property Services Commissioner, to delve into the measures being taken by the Office of Fair Trading to regulate and improve the real estate sector’s reputation. With an industry plagued by issues ranging from underquoting by sales agents to property managers grappling with rental shortages, and strata managers caught in conflicts of interest, John Minns has a formidable task ahead.

John shares his motivations for stepping into the commissioner role and the surprises he encounters along the way. He discusses how he balances managing immediate crises with long-term strategic planning and tackles significant resistance from various stakeholders, particularly focusing on the pervasive problem of underquoting. We also explore the potential opportunities he sees in the PropTech space and his updates on the Strata Hub system in New South Wales.

The episode covers critical issues such as the licensing loophole allowing new buyer’s agents to practice in NSW via Queensland and the potential benefits of a national licensing system. John addresses frustrations and pricing tactics that often leave consumers disillusioned, sharing his vision for a more transparent and ethical real estate industry. Don’t miss his candid recounting of property blunders that offer a humorous yet insightful perspective on the challenges within the field.

Episode Highlights:

00:00 - Introduction

01:23 - Who is John Minns?

02:29 - What is John’s motivation to make a difference as commissioner

04:10 - What surprised John most about the role?

07:12 - How John manages both short-term crises and long-term planning

08:57 - Among the key stakeholders, which group is the biggest resistance?

11:38 - Tackling the issue of underquoting

16:54 - John’s strategies for effecting change in a slow moving industry

25:03 - Does John see any real opportunities in the PropTech space?

29:19 - What are the plans for improving the Strata Hub system in New South Wales?

35:23 - What’s motivating the government to take action NOW?

38:17 - The issue of new buyer’s agents getting licensed in NSW via Queensland

44:51 - Would national licensing be a good thing?

47:50 - John Minns’ property dumbo #1

50:45 - Addressing frustrations and pricing tactics in property transactions

55:25 - John Minn’s property dumbo #2

About Our Guest:

John Minns, a prominent figure in the Australian residential property sector for over 30 years, brings a wealth of experience to his role as Strata and Property Services Commissioner. His career spans diverse areas including residential sales, project marketing, property management, and franchising, alongside leadership in digital innovation and professional development. John is committed to enhancing consumer experience and protection by promoting transparency and accountability within the industry, advocating for innovation-driven opportunities to foster a trusted and empowered sector.

Connect with John Minns:

LinkedIn https://www.linkedin.com/in/john-minns-40386324/

Resources:

Visit our website https://www.theelephantintheroom.com.au
If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast questions@theelephantintheroom.com.au
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