With over 50 years’ experience between them, Peter Chauncy of McGrath and Wayne Stewart of Century 21 Newcastle know being a successful agent is more than just selling houses.
With new agents starting their real estate careers every day, Chauncy and Stewart share the most important lessons they’ve learned in this industry and dispel some misconceptions.
Real estate is not a nine to five job
Chauncy says he knew being an agent wouldn't be a nine to five job, but he didn’t expect it to be quite so intense.
“I think the biggest misconception about being an agent is how hard you must work to break through when you are new in the industry,” he says. “I had to work around the clock in the early stages of my career just to keep my head above water.
“Fortunately, my mother and father taught me that if you want to be something in life then you have to work hard. You must be completely committed to being successful and stick with it until you break through.
“It’s a valuable life lesson that still drives me every day in this business.”
Chauncy says he worked seven days a week for the first few years of his career.
“It was that commitment that helped me develop into a successful agent,” he says. “The younger generation of agents entering the industry need to understand that this is what it takes to make it in such a competitive field.
“Another misconception out there is that selling property is easy. That might be the case some of the time, but finding the clients and building relationships where people trust you and want to do business with you takes time. Real estate is a long game, so if you are impatient at the start then you are unlikely to be successful in this business!”
You are not on your own
One of the most important lessons Wayne Stewart learned was to take advantage of the experience of his industry peers.
“There is no better way to learn and grow in business than to make mistakes – and I certainly made my fair share before I knew to ask those around me for help,” he says.
“There are so many informative resources at your fingertips. There are professional and experienced agents and professional bodies, like REINSW, ready and willing to help you.
“My advice to fellow agents is to not take risks by guessing your way through problems. Talk to your professional bodies and trusted peers. With their support, you can grow with confidence.”
Most important lessons for agents:
- Never think you know all there is to know | Continually look for opportunities to grow and refine your skills.
- Work for a good brand and in a successful team | It will help build momentum early in your career.
- Treat people the way you want to be treated | Do the right thing by people, give them good advice, and they will want to do business with you.
- Don’t lie, just tell it how it is | In this business, you rarely get in trouble by telling the truth.
- There are more downs than ups when you are starting out | It’s what you take out of a challenging day that helps you improve the most.
- You need to have a passion for people to succeed | It’s what this business is all about.
Meet the agents
Peter Chauncy | Peter is McGrath’s number one metro estate agent and was awarded the REINSW Award for Excellence for Salesperson of the Year in 2017. He recently led his office to be awarded the number one office in the McGrath network for the financial year. Throughout his career, Peter has set many new street and suburb records on Sydney's Lower North Shore.
Wayne Stewart | Wayne has over 39 years of property experience. He has owned building and architectural drafting businesses, specialised in development consultancy and sales, and is a past president of REINSW (2009–2011). Wayne has won numerous awards throughout his career, including the 2016 REINSW Woodrow Weight Award for Outstanding Service.