Welcome to the 12th edition of Principal with guest editor Ian Farquhar of NAB.

I lead the NAB team of real estate banking specialists, working with agents around the country to develop and refine our services, products, and policies for your  industry. We have business bankers dedicated to the real estate industry that understand the unique challenges that you face, and have the knowledge and experience that can only come from working with a range of real estate businesses. We are a relationship business, just like the real estate industry, so I look forward to meeting and continuing to work with many more of you.

As guest editor, I am pleased to be part of supporting the real estate industry through a publication that offers insight, expertise, and an exchange of views from significant participants about the market direction and dynamics impacting businesses.

At no time has such insight been so necessary. Staring down the barrel of an increasingly volatile international financial and political landscape combined with a domestic market heavily impacted by a two-speed economy and an embattled federal government, there is a great deal of change agents and other real estate market  participants need to negotiate.

The more experienced campaigners in the industry are not wasting the global financial crisis. In a tough sales environment, they recognise the opportunities for growth, focusing on property management and rent roll acquisition as well as recruiting and retaining the best sales people. They are embracing the benefits of technology, investing in databases, and using the right models to engage with clients. They are also focused on training and equipping their staff with the right tools to manage a volatile market; this is particularly important for younger agents with less experience of tough conditions.

This edition of Principal features an open roundtable discussion with six key market players – both agents and other industry experts – discussing how domestic and international challenges are impacting the market, the availability of finance, strategies for growing their businesses in the current environment, and the significance of engagement through social and mobile channels.

The collective experience at the table offered unique insight into how the best operators rise to the top when faced with challenging conditions. I hope it is of benefit to you and has relevance and application to your own business.