Kay & Burton Partner Michael Armstrong grew up with Real Estate, spending Saturdays as a boy attending auctions with his dad.

Now, with 12 years’ experience of his own in Melbourne real estate, Michael fits perfectly into Kay & Burton’s profile in up-market residential properties, new developments and international markets.

Completely at home with new generation concepts and technology, Michael’s professionalism challenges him to understand the industry differently to most, to embrace the big picture and be part of real estate’s inevitable transformation. 

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WILLIAMS MEDIA spoke to Michael about how COVID-19 is speeding up the ongoing changes within the industry.

What are your predictions for the 2020 luxury market in your area with the current restrictions?

We’re headed into a low turnover market, which only enhances the importance of an agent or agency having a really strong, organised database which has obviously always been a big focus of Kay & Burton.

What advice you would give to vendors for the best outcome?

Vendors need to align themselves with the agent who really knows the market and is in tune with the trends during this time – it’s not only having the information and data, it’s being able to interpret it that is the most important skill during these times.  

A lot of agents have built businesses on “hustling” while the market was rising, but in the current market that is such a small part of it; yes you need energy in this business, but being able to position your clients correctly and given them strategies that get them the outcomes they’re seeking in markets like these is what separates good, professional agents from the “hustlers”.

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What is your view on the impact of real estate technology in the current situation and going forward?

Technology is sweeping through the industry faster than many might have wanted it to - we’ve seen this in the US and whilst we’ve been behind, COVID has sped this up dramatically.  We will never see agents replaced by tech however, rather the role of the agent will be enhanced by it - relationships and trust will be massive in future.

Trends:

• Digital and social media will continue to form the foundation of most marketing campaigns - I would only use print media very selectively these days.
• Working from home and smaller office footprints
• Greater use of AI and more sophisticated databases
• Big trend towards teams where are groups of specialists service the needs of their client base, instead of one agent being able to do it all
• Higher professional standards in future in terms of knowledge around financial and legal aspects of a deal, rather than real estate being a transactional business, it will move towards more advisory and being there for your clients at all turns.

Where do you see demand coming from? Is there international/expat interest?

Demand into Australia will continue to grow from Asia and is only being held back by foreign policy, taxes, etc - if these barriers were removed we would see enormous demand especially from mainland China.

With regard to expats, we find that they are always wanting to put money back into Australian real estate, regardless of whether they plan to return soon or not.

Both categories of buyers understand just how good the lifestyle is in Melbourne and Sydney and the COVID crisis only underlines how safe, clean, healthy and prosperous our country is - this will continue in future of course.

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How has your background shaped your time in the industry?

I grew up with Real Estate - my father used to own Marshall White and was partners with Marshall White (the man!) for 18 years.

My Saturdays as a boy used to consist of going around to Auctions with my Dad then we would go into the MCG to watch the footy after - it was a brilliant upbringing and perhaps those two passions have never left me!

Whilst I am passionate about my work, like everyone the Covid crisis has given me time to stop and think about how we approach our work / life balance.  It’s a great business because it can give you flexibility but can also be incredibly demanding.

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Source: Michael Armstrong

What are your interests outside of real estate?

Outside of work I am part of the My Room Charity which is an organisation of incredibly humble, selfless, dedicated people who inspire me and ground me - it has been amazing to sit alongside them.

I’m also a part of the Old Melburnians Football Club - another organisation I’m passionate about and in my spare time I like to exercise, spend time with great friends and get away to the Mornington Peninsula when time permits.

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