Co-Director and Lead Agent at Place Ascot, Patrick McKinnon is one of Brisbane’s highest achieving residential Sales Agents, attaining the title of Top 1% of Agents in Australia, according to industry aggregators. 

With a well-rounded background in sales, business management, mortgage broking, and real estate, Patrick has devoted the last decade to providing his valued clients with the absolute pinnacle of service, becoming a stalwart figure within the suburbs of Hamilton, Ascot, Hendra Clayfield and surrounds. 

As well as an outstanding agent, Patrick is a natural and consummate leader and is supported by a team of professionals at Place Ascot. Together, he and Drew Davies lead the team in their continued success. They pride themselves on constantly investing in the improvement of their knowledge of Brisbane’s Inner North market to ensure that every person who comes into contact with Place Ascot receives the absolute best, informed service.

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WILLIAMS MEDIA spoke to Patrick McKinnon about the high paced Brisbane market.

As Director of Place Ascot for three years, can you share your leadership strategy in building and maintaining the strong team culture that is reflected in Place Ascot’s success?

First and foremost, culture is of utmost importance to a successful team that flourish on working together. 'If you build it, they will come' has been our mantra from the start with our team, steadily growing with like-minded, results-focused people. 

We deal in an industry where there is a high level of stress involved, so it's important that we are patient and considerate and possess a prime focus on achieving an absolute premium for our clients. With this as our shared belief, our culture simply goes from strength to strength. We are the fastest growing agency on the northside of Brisbane.

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What are your predictions about the 2021 market in your area?

My predictions for 2021 is that the market will remain very strong throughout the year. We have seen some amazing stock come to market which has achieved really great, yet realistic prices. 

The action in the marketplace is mainly due to the interest rates being so low, that has allowed buyers to look for better living options such as, being able to purchase a bigger home or an additional investment property. In return, this has created an aggressive marketplace, resulting in properties achieving better sale prices than what could have been achieved in the past 5 years. Beginning my career in real estate in 2007, I have not seen the market that is this high paced previously.

Are you noticing a significant change in buyers and sellers after 2020?

Yes, we are seeing a significant change in buyers and sellers since 2020. We have noticed an increase in the number of buyers that are moving from down South, assisting Brisbane achieve the current strong sale prices, coupled with decreased days on market. This is therefore putting pressure on our local markets.

Another noteworthy fact has been the increase in the number of off-market property sales, (previously) withdrawn property sales and situations where the vendors are overseas and unable to return back to Brisbane. These properties previously would not have achieved the sale price (with or without a marketing campaign) compared to what they are selling for in the current market.

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

Listen to the market. Watch your surrounding activity. Talk to experienced agents. Consider an off-market strategy if your property is in line with surrounding sales or if you have a unique offering, assess the option of Auction. Low stock, coupled with high numbers of buyers, is the ideal time to create the competition required for an exceptional Auction.

What advice do you give buyers?

Again, talk to experienced agents and monitor the market. Have a clear idea of your wants and needs, as well as your non negotiables. Set a limit to your budget and be prepared with your finances. Keep in mind, now is not the time to hold out for a property that ticks every single box - be open to compromise.

Quite simply, as a buyer in the current market you must be able to make strong offers and move quickly.

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What are vendors saying?

Our vendors are very happy with the contract prices that we are achieving. As there are many people upgrading or downsizing at present, we are assisting by providing a sharp marketing campaign that targets a wide motivated audience, resulting in multiple offers within a very short timeframe.

What are buyers saying?

The feedback we are mostly hearing is that there is low stock to choose from and buyers are becoming frustrated with limited choice. However, this is where we step in and assist with upcoming properties and off-market opportunities.

Where are the buyers from?

We are seeing an increase in the number of expats that are purchasing, coupled with a huge increase with the number of families that are moving up to Brisbane from Melbourne and Sydney - mainly looking for a better lifestyle that Queensland can offer them. This is putting pressure on our local buyers, however the market is being enjoyed by our local sellers.

What are your interests outside of real estate?

I'm an avid surfer, and enjoy playing golf at Royal Qld Golf Club, and cycling. I'm also a proud Husband and father of an amazing six year old daughter. 

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What is one thing you have learned over your years as an agent and also as a team leader?

What I have learnt as a team leader is to be genuine, be sincere, be yourself, these are the most important traits being in the real estate industry, and that is what buyers and sellers want to deal with, someone that is simply wanting to help them.

Related reading:

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