Get to know Mark Wridgway, Director of RT Edgar Toorak
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Dec 13, 2018
Get to know Mark Wridgway, Director of RT Edgar Toorak
Director of RT Edgar Toorak, Mark Wridgway's career could have turned out very differently.
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Image supplied by RT EdgarPictured: Mark Wridgway, Director of RT Edgar Toorak
If it hadn't been for a stark realisation about the motor racing industry, Mark Wridgway could have been caught zipping around Mount Panorama in the Supercheap Auto Bathurst 1000.
Instead, he fell in love with real estate and has never looked back.
We caught up with Mark to chat about his local property market.
How did you start out in real estate? Have you always worked in the industry, or did you do something else previously?
I started racing go-karts when I was about 14 years old and moved through the kart ranks moving onto race formula vee and Marque Sports up until I was about 20 years old.
I worked at Porsche Cars Australia as an apprentice mechanic after finishing school at 17 to fund my racing. Although I realised that motor racing is more of a business than a sport.
I stopped racing around 20 so after finishing my apprenticeship at 21 I left Porsche and started working in real estate in Armadale and have never looked back.
The motivation originally was seeing an enormous hole in the ground at Chadstone shopping centre (which was tiny way back then just Myers and a short mall).
And I thought that being a property developer would be a cool thing to do and make money. Although having just finished one trade I didn’t want to go into building, so real estate was where I headed.
What do you enjoy most about your job?
Achieving a great price, I get great job satisfaction knocking a property down under the hammer knowing there is no money left on the table. Also, it pays very well.
Pictured: 11 Alexandra Avenue, South Yarra. Sold by Mark Wridgway and Justine Harris of RT Edgar Toorak. As seen on Luxury List.
What is the most challenging aspect of your job?
In the current challenging climate, buyer and vendor management, creating urgency on both sides.
What's the biggest mistake buyers or sellers make?
Sellers need to trust the agent they have appointed and let them manage the campaign their way, not try and enforce the vendors way on the agent, as that normally ends in tears.
Can you tell us about an interesting property you’ve sold?
Which one! I sold a converted pub at 39 Duke St Prahran some years ago “The Red Lion” which attracted over 360 groups through the campaign and 7 bidders on the day with a crowd of over 350 looking on. I sold it for $800,000 over reserve.
It was very unique as you could walk to Chapel St eateries, and it had a fantastic/ huge rooftop terrace with an inbuilt pool, big grass areas and spectacular views across to the city skyline.
What does an average day look like for you?
I go to the gym three times a week and try and swim three times a week first thing about 6:30, then I break my day into two parts - I prospect and do admin etc. in the mornings, and then head out for appointments appraisals etc. in the afternoons/evenings.
What’s your advice to someone beginning their career in real estate?
I would educate them to understand what real estate is about.
It’s about building and maintaining relationships and to stay focused for the long term.
If you always focus on helping your clients achieve their goals, you will always achieve yours.
If you could change one thing about the real estate industry, what would it be?
Have weekends off?? (not likely)
What’s your outlook for the Toorak market for the next 12-18 months?
I believe that the current price downturn will be short-lived, it's just happened on increased volumes, once stock levels fall back to normal levels, the prices will recover and rise, albeit much more modestly.
If you weren't working in real estate, what would you be doing?
If I have enough money I would be a property developer full time, 40 per cent of my clients are developers and I do a lot of work with great architects like Rob Mills. I just love the process of creating and building.
That was one of my motivations for getting into real estate in the first place. I love beautiful buildings and love creating them, selling them.
Where do you live now, and what would be your dream home if you could live anywhere in the world?
I currently live in Malvern, although soon to be moving to Armadale, dream home would be either in London or on the Amalfi coast in Italy.
Related reading:
Get to know Justine Harris, senior sales consultant at RT Edgar Toorak
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