Lessons from the property legends

Lessons from the property legends Sir Keith Campbell, Carol Schwartz and Robert Hamilton (all pictured above), three property pioneers who have changed the Australian landscape and society, have been inducted into the Property Hall of Fame.The Australian Property Hall of Fame was established in 2012 by the Property Council of Australia and last night three more property legends were inducted during the Property Leaders Dinner at Parliament House in Canberra. At the same time, former chief executive of the Property Council, Peter Verwer (pictured right), was presented with a Life Membership.Property Council chief executive Ken Morrison says Campbell, Hamilton and Schwartz were chosen by the board for providing sustained and visionary leadership, making pioneering contributions to the property industry and leaving outstanding legacies.Sir Keith Campbell revived the failing fortunes of the LJ Hooker Investment Corporation, and went on to become its Chairman in 1974. In 1979, then treasurer John Howard appointed Campbell to chair a committee of inquiry into the Australian financial system. What the media termed ‘The Campbell Inquiry’ soon became a catch-phrase for economic reform. Sir Keith passed away in 1983.”The impact of the Campbell Inquiry on Australia’s economic development has been incalculable,” Howard says.”Keith Campbell’s skill, practical economic understanding and belief in markets was the inspiration behind this most successful of all inquiries into the Australian economic system.”Carol Schwartz holds one of the country’s most diverse portfolios of board appointments, and was the first woman appointed National President of the Property Council in 1999.The inaugural convenor of the Property Male Champions of Change, Schwartz has been an active advocate for diversity and has delivered both incremental and radical changes over many years.Schwartz says she is hopeful that her induction will be the “first for the many great and talented women who now work in the property industry,” and says three crucial lessons have helped during her journey: patience, flexibility and courage.Robert Hamilton, the joint founder and managing director of Mirvac Group for more than three decades, says he’s been in the industry for 56 years and is “still learning”. Under Hamilton’s watch, Mirvac developed more than 30,000 homes, diversified into hotels and office towers, and by the time he stepped down in 2005, controlled $5.5 billion in real estate assets. He says one of his secrets is to always “leave a bit on the table” for the other party when doing a deal. “If you do that, they will want to do business with you again. After a few years at Mirvac we knew that, every time we put a building to market, at least a third would be sold to people who had bought from us before. What we lost on the sale price we more than made up on interest and marketing costs.”Hamilton says his great achievement is seeing that he’s “left a mark”.”One of my great joys has been driving around Australia and seeing the projects I’ve left behind. It’s an incredibly satisfying industry to be part of – and it’s important not to be fixed on how much can be made on a deal, but what you will leave behind.”Announcing the presentation of a Life Membership of the Property Council to Peter Verwer, Morrison said Verwer had been directly selected by the board for his 32-year contribution to the organisation, including 22 years at the helm.”Peter transformed the Property Council from a fledging trade association known as BOMA into a first class, national industry association. Peter’s intellect, skill, personality and integrity brought this industry together – and helped make the Property Council one of the most credible economic voices in our country today,” Morrison said.More information on the Property Hall of Fame is available online.