This year, Imran Mohiuddin marked four decades of success and growth in the Australian property industry. How has real estate changed and what’s ahead? The inaugural WA Property Leader of the Year shares his thoughts.
Colliers’ state chief executive was presented with the inaugural WA Property Leader of the Year Award in mid-October in recognition of his exceptional commitment to property innovation since 1981.
Born in Pakistan, Mohiuddin studied a Bachelor of Arts and Politics at the University of Western Australia and graduated in 1981. He cut his teeth as head of property management in WA for the federal government’s then department of administrative services, before joining National Mutual, now AXA, in 1987 to manage its commercial property portfolio in WA. There, he gained recognition for elevating the value of the portfolio he managed by 30 per cent in just 12 months.
He joined Jones Lang LaSalle in 1989, rising through the ranks to become a director in the Perth office in 1993.
“Back when I started, property managers were seen as failed real estate agents that were entrusted to collect the rent and keep the electricity going,” he says. But Mohiuddin could see that quality buildings benefited from a more scientific, technical approach powered by rapidly-advancing technology.
“I have always chased a sense of excellence and looked for better ways of doing the job,” he reflects. “And I’ve always seen technology as an opportunity rather than a threat. When computers came out, for example, a lot of property managers were worried they’d lose the typing pool. I decided to make the computer my friend.”
That friend brought with it fresh approaches to property management – like the “electronic billboard” which Mohiuddin started shopping around Perth in the early-1990s with little success. In fact, most building owners thought the idea of a website was insane.
“I said I would create an electronic billboard with the contact details of the property manager and the bus routes. One owner told me it was a stupid idea because just 15 per cent of occupants had computers at their desks. A year later, I bumped into him at the airport and he told me ‘We’re up to 50 per cent now, come and see me’. My digital journey started from there.”
Mohiuddin saw proptech was an opportunity long before it was a catchphrase. He introduced IT specialists and programmers to his property management team, and within five years had quadrupled the earnings of the property management division.
In 2001, Mohiuddin left JLL to drive the development of a new asset management software platform, Core Vision. Today, Core Vision’s cloud-based building management software and online portal solutions are used by around 80 per cent of Australia’s largest buildings, as well as iconic landmarks in other cities like London.
Mohiuddin and his partners purchased the WA franchise of Colliers the following year, and he was appointed state chief executive in 2003. Over the course of two decades, he has doubled the agency’s headcount, trebled its footprint and added six new divisions to meet evolving client demands. He has built strong relationships and laid foundations with Asian investors, playing a key role in introducing Asian capital to Perth’s market.
Reflecting on Mohiuddin’s achievements, Property Council WA executive director Sandra Brewer says he “leads by example with an inspiring style and emphasis on relationships”. Mohiuddin’s approach has “driven impressive business results, attracted a large pool of capital to Perth and elevated the industry’s adoption of technology”.
It is that adoption of technology that positions Australia for a new era of opportunity, Mohiuddin adds.
“I see nothing but bright lights for Australia. Covid is driving huge change but what makes Australia unique is our isolation. That isolation had disadvantages before the internet. But in the digital world it’s not such a big issue. In fact, Perth is on the same time zone as 40 to 50 per cent of the planet. That gives us a huge advantage.
“The pandemic proves that we are a safe place. After every war or world crisis Australia has become a destination for migrants and this pandemic will be no different.
“A lot of people who have been in the industry for a long time, like me, tend to be nervous about the rate of change. Our experience was earned in an era that no longer exists.”
How do leaders adapt to accelerating change? “I maintain an interest in the issues that are beyond my sphere of influence – such as geopolitical tensions or trade wars – but I am focused on the issues I can control. Is our team energised? How much trust am I creating? With what clarity does our team perceive their responsibilities and their connection to the results we are trying to achieve for our clients?
“To do this, leaders must get into the minds of their people – to understand what motivates them. People are hard to predict and there is no shortcut to this work. You have to know your people.”
What is Mohiuddin’s message to young professionals just starting on their own four-decade career journey in the property industry?
“Never trade your integrity. When you’re young, integrity is one of the only assets you bring to the table. Don’t come into this industry to become rich. Join us because you want a good career. Everything is trainable and learnable, but you need people to trust you. If you can do that, a good career will follow.”
While he’s proud of the achievements over the first four decades of his own career, it’s the decade ahead that excites Mohiuddin. He is preparing to exit the Colliers franchise and lead his team into a new era from 1 January at the head of what is expected to be WA’s biggest independent full-service property agency.
“We have enjoyed a long and successful partnership with Colliers, but with expiry of our franchise agreement at the end of this year, we saw an opportunity to reset our business, take charge of our own path forward and make the most of the opportunities in WA.
“The autonomy that comes with that move means we can be more agile, more innovative and more responsive to the market. Our team is energised and excited about charting our own destiny as we move into 2022 – and I can’t wait to see that future unfold.”
The WA Property Awards, presented by the Property Council of Australia and Principal Sponsor Energy-Tec, were expanded in 2021 with several new categories which recognise the depth, expertise and skill of the West Australian property industry. A full list of award winners is online.