March 2017

50 APAC / March 2017 , 1701AP46 Get Real Jacob Caine, of Caine Real Estate, tells us more about the industry as a whole and how it has changed over the years. Caine Real Estate is a residential Real Estate Firm providing expert advisory, advocacy, negotiation, and property management services. Whilst its clients represent diverse cultural backgrounds they share a passion for high-end property. Caine Real Estate has operated in the luxury property market of East Melbourne since 2001. In that time the firm has been recognised by multiple industry bodies as a market leader in both sales and property management divisions. Caine Real Estate was named a finalist in 10 categories at the 2015 Australasian Real Estate Results Awards including Boutique Agency, Sales Agent of the Year, Marketing Agency of the Year, Property Management Team of the Year and won the Customer Service Award and Best Marketing Campaign Over $10,000. “Human resources are our firm’s most valuable asset, accordingly our ongoing strategy revolves around protecting, strengthening, and developing the “talent” within our business, as well as identifying new prospects to join our team,” explains Jacob Caine. “We invest heavily in training our team - not necessarily in “job specific” skills. The broader the education and experiences of our people, the broader their appeal to the wider community. The opportunity to learn and grow within our business, creates an engaging and challenging culture that attracts and retains the best talent.” Jacob expounds on how technology provides great efficiencies within the real estate industry. “Historically time consuming processes can now be completed in a fraction of the time, with greater accuracy and detail. We have an administration support team located in the Philippines that work remotely on our Australian located systems – this would have been unthinkable a decade ago. As a company, we’re constantly assessing and trialling new to market innovations to test their efficacy against existing systems and processes. “In all honesty, the most significant change to the real estate industry in recent times has been the internet – obviously, that’s old news now. The fundamentals of residential sales and property management haven’t changed at all. Disintermediation is a big concern of the industry at large, and is a genuine threat. Though that threat, as it stands now, doesn’t offer real efficiencies for the “end user”. It merely adds another layer of administration (=cost) which will either be absorbed or passed on.” Jacob’s key attributes that enable him to be such a successful CEO include his uncomplicated nature. “What you see is what you get,” he enthuses. “I have an unwavering faith in people, and firmly believe that when you demonstrate trust and belief in someone they’ll reward you with loyalty and dedication…. people seem to respond to this. “I have two families – the family I come home to at night, and the family I spend every workday with. The people that surround me at home and at work keep me motivated for success. Their successes, their hopes, their ambitions, and their challenges inspire me to persevere and be a positive influence through the good times and the not so good.” However the company’s success has not always been without its challenges, and Jacob tells us more about how he has worked to overcome challenges related to the APAC region. “Educational standards in the Australian Real Estate industry are lamentable. The barriers to entry are far too low, and as a result the pool of talent is significantly diluted by people without the dedication, work ethic, and skillsets to succeed. Competition for quality experienced staff is incredibly high. To overcome this challenge, we’ve adopted an “academy” approach to recruitment and training. We look for people that have proven non-real estate industry experience and life-skills, with a particular set of attributes. We make a long-term commitment to those we identify as high- potential recruits, and invest in their education and development over a two-year period. The end product is a highly skilled and efficient operator.” Within the next five years, Jacob envisions great changes within his role, as well as within the business. “I’m a part owner of the business I run, if I were still responsible for day to day management in five years, I’d consider that a failure on my part. Whilst I’d expect to continue to have input into the strategic direction of the company at a board level, in five years’ time my expectation is to have passed the baton to an exceptional individual with a fresh perspective and ideas about the future of not just the company but the industry. For me personally, I’d love to continuing working in a leadership position with passionate and inspirational people. “We deliver a “service” that has universal appeal, and is very scalable – the expansion of the business to the Eastern seaboard of Australia is the overarching five year goal.”