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Despite real estate agents’ skills and dedication, the profession remains among the least trusted.
What causes this perception, and how can it improve?
In the latest episode of Courageous Conversations, Barry Plant CEO Lisa Pennell speaks with Leanne Pilkington about building trust and improving industry standards.
She offers perspective on why the public often views agents with uncertainty, whether buyers or sellers contribute more to this perception, and how competition within the industry affects public opinion.
Lisa also discusses her experience as a female leader in real estate, the role of technology in the profession’s future, and what made her consider leaving the industry.
She also shares how an unexpected power outage at Barry Plant’s international conference in Barcelona became a test of leadership.
“If you ask anybody, ‘What do you think of real estate agents?’ They’ll roll their eyeballs. But if you ask them, ‘Do you have one that you use?’ They’ll go, ‘Oh yeah, I’ve got Leanne. She’s amazing.’”
Essential Insights
Industry Trust and Disruption
- Real estate faces ongoing trust challenges – individual agents are often trusted, but industry reputation remains poor (05:00)
- Technology disruption is inevitable but the human element will remain important for handling stress of property transactions (06:00-07:00)
- AI tools should focus on low-value tasks rather than replacing core human relationships (09:00)
- Empathy and genuine human connection cannot be replicated by automated systems (09:00-10:00)
Leadership and Gender Equality
- Industry lacks pipeline of women ready for senior roles due to historical barriers (18:00-19:00)
- Gender pay disparity persists with questionable justifications for male dominance (19:00)
- Unconscious bias remains a challenge – “angry women” are viewed differently than “assertive men” (18:00)
Building Better Industry Culture
- Internal competition and negative behaviour between agents damages industry reputation (22:00)
- Restrictive practices like harsh restraints and litigation over staff movement need review (23:00)
- Success possible without ego – top performers can be humble and collaborative (25:00)
Future of Real Estate
- AI development is accelerating rapidly – the industry could look very different within a year (10:00-11:00)
- Technology should enhance rather than replace human service elements (08:00)
- Important to be transparent about AI use – avoid misleading practices like fake language capabilities (09:00)
Links
LinkedIn
Barry Plant Real Estate
Detailed Episode Guide
Introduction to Lisa Pennell
This episode features Lisa Pennell, CEO of Barry Plant, in conversation with host Leanne Pilkington. The discussion covers Lisa’s extensive career in real estate, from her early days in utility connections to her current leadership role at Barry Plant.
The Journey to Leadership
Lisa’s entry into real estate was unplanned, beginning with co-founding one of Australia’s first utility connection businesses. Her career path led her through various roles, including 20 years at Ray White, before taking the helm at Barry Plant.
Technology and Human Connection
A significant portion of the conversation focuses on the role of technology in real estate’s future. Lisa emphasises that while AI and technology will continue to evolve, the human element remains crucial in real estate transactions.
“People want people. And in our industry, particularly because it’s so stressful, moving is so stressful… I can’t see how any sort of AI is going to replace that part.”
The Leadership Challenge
As one of the few female CEOs in real estate, Lisa discusses the importance of authentic leadership and the challenges faced by women in the industry. She highlights the need for more diversity in senior roles and the importance of developing future female leaders.
Building Trust in Real Estate
Lisa addresses the industry’s trust challenges, emphasising the need for transparency and ethical behaviour. She discusses how internal industry competition and negative behaviours can impact public perception and trust.
Creating Positive Culture
One of the most compelling aspects of the conversation is Lisa’s description of Barry Plant’s unique culture, particularly their approach to building strong relationships within their network through family-inclusive conferences and events.
Summary
Lisa Pennell’s interview provides valuable insights into the challenges and opportunities facing the real estate industry. Her perspective on leadership, diversity, and the importance of human connection offers a blueprint for positive industry change.
FAQ
Here are 10 FAQs for this episode of Courageous Conversations with Lisa Pennell:
1. Why do real estate agents struggle with public trust?
Lisa Pennell discusses how competition within the industry—particularly agents undermining each other—contributes to the public’s scepticism. She also highlights how buyer frustration plays a role in shaping the industry’s reputation.
2. What steps can the real estate industry take to improve trust?
Lisa believes trust can be built through professionalism, transparency, and fostering a culture of respect among agents and brands rather than internal competition and negativity.
3. How did Lisa Pennell get into real estate?
Lisa’s journey into real estate was unexpected. She co-founded Australia’s first utility connection business, which led to opportunities with Ray White, Loan Market, and later, executive roles in leading franchises.
4. What was Lisa’s biggest leadership challenge?
One of Lisa’s biggest tests came during Barry Plant’s overseas conference in Barcelona, when a sudden power outage forced 120 attendees to relocate hotels. She shares how quick decision-making and a strong team spirit turned a crisis into a bonding experience.
5. Why did Lisa almost leave the real estate industry?
Frustrated by the negativity and lack of trust in the industry, Lisa was ready to walk away. However, a conversation with Barry Plant’s then-CEO, Mike McCarthy, led her to reconsider, and she now feels at home leading the network.
6. How does Lisa view AI’s role in real estate?
Lisa believes AI will change real estate but won’t replace the human element. She argues that buying and selling property is too emotional and complex to be handled purely by technology.
7. What is Lisa’s take on female leadership in real estate?
Lisa highlights that while more women are reaching leadership roles, there’s still a missing rung in the career ladder. Without enough women progressing through the ranks, many companies struggle to find female candidates for senior positions.
8. How does Barry Plant’s company culture differ from other brands?
Lisa praises the strong sense of unity within Barry Plant, where offices work together rather than competing. Long-standing relationships, family-oriented events, and mutual respect set the group apart.
9. What advice does Lisa have for aspiring leaders in real estate?
Lisa emphasises resilience, emotional intelligence, and the importance of building strong relationships. She also encourages leaders to focus on solutions rather than getting caught up in industry negativity.
10. What excites Lisa most about the future of real estate?
Lisa is optimistic about the industry’s potential to evolve, especially with advancements in technology and a growing focus on professionalism. She’s particularly excited about fostering a culture of trust, collaboration, and innovation within Barry Plant and the industry as a whole.
