The Agency’s Ericka Wong’s love of real estate is grounded in the connections she builds with her clients, the privilege of meeting, getting to know and being entrusted to assist her clients in a part of their journey.

Ericka started her real estate career in the City of Whitehorse, she then moved to Melbourne’s inner east, working within the Boroondara market alongside some industry leaders and notable figures. The last 5 years has seen her emerge as a leading agent within the municipality of Manningham.

Now entering her 20th year in real estate, Ericka's passion and dedication towards the real estate industry is stronger now than ever - values Ericka and her husband try to instil in their 2 children. A self-confessed foodie, Ericka and her family love travelling and sharing new experiences.

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WILLIAMS MEDIA spoke to Ericka Wong about the impact of restrictions on her clients and her outlook for the remainder of the year. 

What are your predictions for the 2020 luxury market and how the lockdown is affecting the market in your area?

2020 has been such a disruptive year on so many levels. Given the current situation, especially here in Melbourne, I think the major lack of stock and especially in the luxury market, will see a real flurry of activity when we do come out of these Stage 4 restrictions. Essentially, we’ve seen a complete standstill in the last quarter and I think there are a lot of people needing and wanting to transact as soon as reasonably possible. There is a general frustration, among buyers and sellers alike, which is completely understandable given this can have a possible knock on effect mentally, emotionally or financially for many.

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

My advice to vendors would be to talk openly to your trusted real estate advisor, be armed with as much information as possible, such as market reports across various industries, and listen to what the market response and feedback is to your property. Like anything in life, the more informed you are, the better you can make decisions. Be confident and comfortable in your partnership with your agent and together, the process of selling need not be as overwhelming or stressful as it may seem on the outset.

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What advice do you give buyers?

My advice to buyers is to be confident when it comes to making an offer or bidding on a property that you really love, especially when you are in a market where supply is lacking. If you see a home you really love, give it your best go! This advice applies particularly if the property is a long-term prospect, you don’t want to be kicking yourself for missing out and having to start your search again.

What are vendors saying?

Vendors understand that we are in very unique times and a lot of what can and cannot be done is out of their control as well as the agent’s. So there is a level of calm given the knowledge that others are in the same boat. Nevertheless, together behind the scenes, we are working on strategies to get campaigns up and running as soon as effectively possible. It is a tailored approach though as each vendors circumstances and objectives are different and so too each property.

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What are buyers saying?

I can certainly empathise with buyers out there who are finance approved and ready to buy, yet they can’t even physically inspect properties right now. Most are very keen to purchase while they have their finance approval in place, without having to resubmit paper work should the approval lapse. Some buyers are forced to look at the rental market in the interim until such time as there are more properties available and inspections are possible.

Have you noticed any change in buyers and sellers since the COVID-19 situation?

The Covid-19 situation has seen sellers and buyers alike who are genuinely wanting or needing to sell. Those just looking or just wanting to test the market aren’t as prevalent as in a ‘normal’ market. 

Are the buyers changing? Where do you see demand coming from?

I find buyers also know what they are wanting, their criteria are quite clear and firm. 2020 has also seen many expats looking to come home given the global events and so I have seen a fair bit of overseas enquiry, particularly from Southeast Asia, for some of my listings.

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What is one thing you have learned over your years as a luxury agent?

I think there has been and will continue to be big changes in the way people live their lives and so with many people able to work from home, they may continue to do so and choose more lifestyle properties or destination areas to reside in rather than have the mentality that they need to live closer to work for example. Ultimately, real estate and the need to buy/sell or lease a property is relevant no matter what is happening in the world both locally or globally. We all need a roof over our heads. Everybody wants a touch of luxury in their lives and I think it transcends price points, I really do believe its achievable at any level.

I think ultimately, people want to make their home their happy and safe space and that in itself is a luxury.It’s the fact that everyone has a unique story and that I am entrusted to be on that journey with them, even for a short moment, is what I love about real estate and why I love what I do! I view it as a real privilege and pleasure to be allowed to do so. 

Having majored in psychology as part of my Bachelor of Arts degree, what drives me most is that human connection and real estate is the vehicle that gives me fulfilment in helping others reach their property goals which really, is more than just the bricks and mortar.

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What are your interests outside of real estate?

Having been a florist in the past, in my spare time, I enjoy floral arranging and having bright, beautiful flowers throughout my home. And plants, I am loving my plants too. I am also a self confessed foodie and pre covid19, my family and I love to travel. We enjoy our food, being together, sharing in new experiences and seeing and learning about different places and cultures.  

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