In Short:
– Cities are adopting improvement districts to enhance urban living and attract investment through collaboration.
– Tyrrell emphasised London’s success with improvement districts and highlighted potential benefits for Australian cities in this model.

Cities worldwide are increasingly adopting improvement districts as a strategy to enhance urban living and stimulate investment. These districts involve collaboration between business owners and local authorities, aimed at collectively improving areas by focusing on sustainability, community engagement, and infrastructure development.

Opportunity London CEO Jace Tyrrell recently discussed the significance of improvement districts during an event. He highlighted London’s success in employing this model, fostering both investment and community transformation.

Tyrrell noted that Australia represents a crucial market for London, contributing approximately 10% of capital investment. He outlined opportunities for collaboration, specifically emphasising the strong historical economic ties between the two nations.

In this episode of The Property Playbook, Tim Graham interviewed Jacob Caine, Interim CEO of the Real Estate Institute of Victoria (REIV), to discuss the ongoing issue of underquoting in the Australian property market. Despite reforms introduced in 2017, concerns and dissatisfaction from the public remain prevalent. Caine shed light on the root causes of consumer mistrust and outlined the REIV’s initiatives aimed at enhancing price guide transparency.

Together, they examined the reasons behind the persistence of underquoting and its extent within the industry. They also evaluated the successes and shortcomings of the 2017 legislation. The conversation highlighted the importance of data transparency in alleviating confusion for both buyers and real estate agents.

In Short:
– Most insider incidents arise from unintentional mistakes by employees rather than malicious intent.
– Organisations should foster a culture of openness and psychological safety to encourage error reporting and learning.

When discussing insider risk, the common perception is of a malicious employee. In reality, most incidents stem from unintentional mistakes. Errors occur when employees upload files incorrectly or engage with phishing emails while distracted.

Jacqueline Jane and Andrew Pedroso of SoSafe are exploring approaches to mitigate this risk by discussing systems that accommodate human errors rather than imposing punishments.

These errors often involve well-meaning employees acting in error rather than out of malice, accounting for 60-70% of incidents. To reduce risk, organisations can implement advanced technologies that streamline processes while fostering an environment where employees feel confident to admit mistakes. It’s crucial to shift the mentality from fearing errors to learning from them.