After a chance encounter with a highly regarded luxury real estate agent, Lee Riddell swapped his steel cap boots and hard hat for a polished suit and a career in real estate.

He is now an agent with M Residential in Perth.

He told WILLIAMS MEDIA he expects a gradual increase in property prices over the next 18 months.

How did you start out in real estate? Have you always worked in the industry or did you do something else previously?

I was working in the construction industry at a very well known property in the western suburbs of Perth, that used to belong to Alan Bond. When I met the selling agent at the front gates, ( he was probably Perth’s most well know agent at the time, when it comes to the luxury home market) he was looking for the owners who had purchased the property recently. We started talking and I asked him "what does a property like this sell for?" He said $9 million dollars. I asked "what do people pay to sell this type of home?" and he said 2 per cent. I looked at his suit and the car he pulled up in. Then I looked at my clothes and my panel van out front and that was it for me.

I worked in about twenty different jobs, before starting in real estate. But nothing seemed to fit. I’ve been in the industry for 18 years now and I've never looked back.     

What do you enjoy most about your job? 

To be honest, it’s about doing the deal and seeing both parties rapt about the outcome. I love the idea that the harder and smarter I work, the more I can earn. As this can provide me with more quality time to spend with wife and two small children. 

Can you tell us about an interesting property you’ve sold?

That’s easy, the house I sold in South Perth for $9 million dollars. At the time it was the highest price ever paid for a residential home, south of the swan river in Perth      

What’s your advice to a young person starting out in real estate? 

It’s not easy and requires a lot of hard work. With that said its incredibly rewarding, doing something you love!   

If you could change one thing about the real estate industry, what would it be? 

The stigma that all real estate agents are the same, I feel is clearly not true. Of course in every profession you get the “bad eggs” so to speak. But I truly believe our industry has changed dramatically over the last few years . A lot of the agents I meet and do business with, are very knowledgeable, professional business people.

The Perth market is said to be stabilizing, how are prices in the suburbs where you focus?

Yes the Perth market has without doubt found its bottom, late last year. The market I operate in South Perth, is going very well. Especially the large family homes sector.    

What’s your outlook for the Perth market for the next 18 months? 

A slow but gradual increase in property house prices is what I expect to see moving forward.  

Where do you live now, and what would be your dream home if you could live anywhere in the world? 

I currently live in Alfred Cove, it’s about 10 minutes from the CBD. It’s a wonderful family suburb, adjacent to the swan river.  If I had to live anywhere it would be Los Angeles, my wife and I visited there about six years ago and just loved it.  

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