Simon Pressley is Managing Director of Propertyology, a three-time winner of the REIA Buyer's Agent Of The Year award and was this year inducted into the Australian real estate Hall Of Fame.
How did you get your start in the real estate industry?
My background is in commercial banking. I founded Propertyology in order to combine my interests in commerce, the economy, and property in order to help property investors make more astute decisions.
What do you love about your job?
I get immense satisfaction from interpreting a wide range of information (research) to hand pick certain towns and cities all over Australia for long-term property investment potential and then using this information to help mum-and-dad investors build sustainable property portfolios. It’s a wonderful feeling that you get from knowing you’ve made a difference.
What would you say are the biggest issues facing the Australian real estate industry at the moment?
The complete lack of legislation to prevent third parties from ‘selling’ a brand new property on behalf of a developer. More and more accountants, mortgage brokers, and financial planners are pocketing massive rebates from developers for spruiking developer stock to investors. I am totally opposed to anyone receiving any form of remuneration for a property transaction from anyone other than the person who they represent. They can’t claim to ‘work’ for the investor while getting paid by a developer or the developer’s marketing arm. If that’s how they wish to make money legislation should require them to acquire and retain a full real estate license and then disclose to the public who they really work for.
When did you start your own firm?
I ended my banking career back in 1998 to go in to business. The firm has evolved considerably over those last 16+ years.
Why did you decide to start your own firm?
Don’t ask me where I get it from however I have this visionary streak in me which business owners need. It’s my nature to challenge whatever the status quo is, to find better ways, to help others achieve more.
What’s your advice to a young person thinking about getting into the industry?
Real estate is ‘shelter’ – everyone needs it. The role which shelter plays creates a variety of roles for the real estate industry (property management, selling real estate, buying real estate, analysing real estate markets, etc). Whatever role you choose to play, my advice is to create daily habits for continuously refining your skills with your own client’s best interests as your primary objective. Trust me, if you do that the rest will take care of itself.
If money were no object, what would your dream property be? And where do you live now?
A modern contemporary home on Lake Como in Italy would be hard to beat – one day! For the moment, I’m comfortable living in my Brisbane home, while working towards ‘Propertyology’ becoming a household name and building my own property portfolio