Lachlan Goddard's recipe for survival in real estate includes going to sleep at the same time every night, learning to negotiate, and getting healthy and eating properly.

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

My first job in real estate was a part-time role in my parents agency. 

I worked there for about five years whilst I was studying law and business at university. 

That was my first ‘real’ job so I would say I’ve always worked in real estate. 

It’s a pretty difficult industry to escape if your family works in it! I think I caught the bug early on.

I moved to Melbourne two years ago to take what I learnt in my previous job and apply it out on my own in a new city. 

I drove around to all different areas in Melbourne and decided that Northcote was the place I wanted to live and work. 

So, I knocked on the doors of all the agencies in the area until one gave me a job. 

Luckily it was Jellis Craig who are the definite market leaders in our area and the strongest brand.

What do you enjoy most about your job?

Real estate is an exciting industry because every week brings new opportunities and challenges. 

You can rely on your instincts to progress through your career and the more you give, the more you get. There is always more to learn.

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

We sold a home in Thornbury that had a full indoor garden in the kitchen complete with grapefruit vine that climbed along the walls. 

One of the walls in the living room was a chalk board.

It’s the coolest house I’ve ever seen and it was just 20 metres or so from High Street as well!

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

Real estate is nowhere near as simple as you think it’s going to be. 

A small number of agents earn millions of dollars, many struggle to make budget and most people leave the industry as quickly as they enter it. 

You can progress quickly, but you have to be prepared to learn. 

Training and education is a huge part of being a real estate agent which is something most people don’t realise. 

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Here is my recipe for surviving the start of your real estate career:

• Get a job at the best agency in your area
• Work under the best agent you can find and learn everything you can from them
• Make sure that the marketplace you have chosen to work in matches your ambition: how many houses sell in that area each year? What price are they? What are commissions like?
• Keep on top of the market by reading The Real Estate Conversation
• Sign up to Real Estate Gym
• Sign up to Josh Phegan Training
• Go to AREC
• Listen to these podcasts religiously: Million Dollar Agent, Elevate, The Adrian Bo Podcast, High Performance, The Mat Steinwede Podcast
• Read everything of Dr Fred’s that you can get your hands on until you can afford him as a coach
• Make sacrifices if you want to progress quickly
• Get healthy, eat properly, exercise regularly
• Go to sleep at the same time every night
• Learn to meditate
• Learn to negotiate
• Make sure you push yourself outside your comfort zone at least once per day
• Live in the area you work
• Take other agents out for breakfast or coffee and ask them questions, learn from them
• Have a peer partner that holds you accountable to the things you say you will do
• Figure out why you’re at work: What’s the reason you want to earn the money? What is the purpose behind it?
• Get real clarity around your goals and match your actions to your ambitions

Related reading: 8 of Australia's coolest warehouse conversions

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

The level of professionalism in our industry can be quite low. I would love to see a lift in the baseline level of professionalism in real estate.

In some ways this has already occurred. 

The young agents coming through the top agencies in Australia (think Place, Harris, Jellis Craig, BresicWhitney etc) all tend to be highly educated, refined individuals who are treating their careers in real estate with the same level of respect and dedication a young lawyer or doctor would treat theirs. 

On top of this, the top agencies have access to world class training and resources which means they are turning these young professionals into highly skilled agents at an incredibly fast rate.

But I don’t think this alone is enough.  

I’m a huge advocate for the Pathway To Professionalism and anything else that will elevate the standing of estate agents in Australia.

Our industry has too many dedicated professionals whose reputations can be dragged down by a handful of cowboys.

Related reading: Real Estate Industry on Pathway to Professionalism

What’s your outlook for the property market in Northcote for the next 12-18 months?

I find crystal ball type stuff a bit hit and miss, but if I was a betting man I would say the next 18 months will be characterised by strong growth in the Northcote marketplace. 

Typically when I’m trying to predict property market outcomes I’ll look at population growth, interest rates, availability of credit and strength of the economy.

Northcote’s going to experience great population growth for many years to come and interest rates are going to stay relatively low for the next five or so years. 

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The wider economy is also tipped to perform strongly over this period as well, with economic performance in capital cities outpacing the rest of Australia. 

These predictions are all sourced from the Australian Bureau of Statistics, Reserve Bank of Australia, and the International Monetary Fund so we are able to count on it for reliability.

The only thing that I foresee hindering growth in our marketplace is the availability of credit. 

This is a bit of an issue at the moment, but it’s hard to say whether it will be a temporary problem or something longer lasting.

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

At the moment I live in Northcote, just a few hundred metres from our office. 

I love being able to live and work in the same area, it comes with a lot of practicalities and efficiencies. 

In terms of my dream home, I’m a huge fan of Australian architecture. 

I would love the opportunity to live in a really well-designed Australian home. 

Some of my favourites are The Stamp House, Featherston House, Planchonella House and Cabbage Tree House. 

Even an apartment in The Commons would be a dream come true!

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The value of a cadetship in real estate