Words of Wisdom – with Recruit RE and Tracey Dixon

An opportunity to change career over 20 years ago saw Tracey Dixon move into real estate, where with hard work, determination and a love for the industry, she thrived.

Tracey has animpeccable knowledge of real estate and her local area where she has immersedherself in the community and built an impressive business.

Now as a Director of McGrath Hunters Hill, Tracey and her team focus on delivering exceptional service while giving back to their local community, and are looking forward to expanding further over the coming year.

Tell us a bit about your career and how you got started in real estate?

I've been in real estate for around 22 years and, while that sounds like a long time, it’s gone so quickly. When I started I was a single mother, and I had a background in economics and history teaching until my daughter went to school.  I then moved into the hospitality industry.

My family were publicans and my ex-husband and I were in the motel and hotel industry.  I had always worked with people and I love being sociable.  When my daughter was around six years old, I decided to look for a career change, and a local agent mentioned they thought real estate would be a good fit for me.

I began working in her office in marketing and attending photoshoots, and it was a good place to start as a soft landing into the industry.  I knew a lot of people locally and buddied up with another agent as her sales associate and learned the ropes.

It took me around five years until the owner of the office promoted me from an assistant to a sales agent, and I had to get serious about listings.  It's a great career that can be flexible around family, and over the years my friends became colleagues and clients, and vice versa.

I’m now Director at McGrath Hunters Hill with a business partner and we have been working in this area for a longtime.  We are expanding our horizons and moving into new suburbs over the next six to 12 months.

What qualifications did you complete to begin in the industry?

I completed the real estate course which was a 12-month requirement and I loved learning about contracts.  I found that I loved any training around real estate and the psychology of how people buy and sell and what goes into their decision making.  Being an ex-teacher, I enjoy the training and getting involved.

How would you say that your friends and colleagues would describe you?

I'm very easy going, dedicated, love change and am a big picture thinker.  I also love switching it up and being on top of innovation within the business.  I'm a fair and impartial boss and enjoy helping our teams reach their goals.

I love a team environment - I was always a good doubles player, not a singles player, and I really enjoy having the team around me so that we can bounce off each other.  There are so many ups and downs in real estate, and I believe that great teams are the strong real estate agents of the future.

What would you say your proudest career moment would be?

Speaking at AREC in front of my industry colleagues was a real highlight and I really appreciated that opportunity.  Giving people takeaways was great, and I also thrive on mentoring and nurturing of other teams.

I find that a lovely part of our industry is where people appreciate your time and, even if there are not a few takeaways, it's always worthwhile to have a conversation.  As a director, your responsibilities are to everyone, and I have a team that I am really proud of.  Trying to make sure that everyone is happy is something that I don’t take lightly.

What do you find the most rewarding part of your job?

The people that I deal with and moving them from A to B.  It's a life-changing decision to move homes, whether it's within the suburb or out of the area, and whether they are upsizing or downsizing.  It's very rewarding at the end of the day reducing stress from people’s lives and helping them with their home.

Property transactions are one of the most stressful things you go through.  It's very rewarding if we can make that a little bit easier for our clients.

What does a typical day look like for you?

There's always something different going on.  It involves a lot of meetings with my work colleagues, catching up with vendors and potential sellers and property negotiations.  I do all my vendor meetings on certain days and evenings.  There are a lot of conversations talking to the hot buyers and those that have taken contracts on homes.  Then there is a little bit of admin and catching up with team meetings.

My team support me to organise my calendar and tell me where I've got to be, and it all works smoothly.  I love that it is ever changing, and no day is the same.

What advice would you have for early career professionals?

Becoming an expert in your area of expertise is important, whether it be property management or sales - having knowledge is key.  Check what is happening with you, your competitors and local environment including plans and new developments.

Since I started out, I've tried to be of assistance to people.  Whether they're moving somewhere and they want information about what's available, keeping in contact is key. Information giving is the new prospecting.

What advice would you give to anyone in real estate to maintain their mental health?

Play to your strengths and create a group of like-minded people that you want to do business with, and don't sweat the small things.  You can't win every piece of business, and you're not going to get on with everyone.  Be that helpful person who is going to assist as many people as you can in your day, and that will come back to you.

Keep your mental health on track with holistic parts of your life like relaxation, physical activity, taking time out and holidays.  There are so many hours that go into real estate and it’s important to factor in other elements of your life, otherwise you will burn out.

What do you think the biggest recruitment challenges are that we're having in the industry?

Finding the right people for the various roles within businesses.  Everybody runs their business differently and there are unique skills sets that people bring to the table.  It’s matching people to the right roles which can be challenging.

My advice is always start where you want to finish.  There is no point starting a sales or property management role if it's not the place you want to be for the next five years.  Think carefully about what sort of lifestyle you want to have and where you want to be.

How do you find the best talent to join your team?

I think as an agent and as someone who runs the business, you tend to hire people you feel have similar attributes to yourself.  That can sometimes be a mistake.  You want others around you with complementary skills.

It is a challenge to find people, because a lot of good people are happy where they are, and it can be hard to find someone who's going to fit in with everybody, particularly when you have a team that’s been together for quite some time.  Many of my team members have been with me for six to eight years.

What is your opinion of the current real estate market?

The current cycle is changing more quickly than ever before.  In the past a cycle would last for three to four years, now it seems to be every six months.  We've got to be quick to zig and zag, and there is a lot of commentary in the media.

Every market is different.  We all work in one market, but there are a lot of micro-markets.  You need to be resilient and ready to take on whatever market we're in.  People are exercising a lot of caution around what they do and not jumping into things quickly.  However, if the property is right and it's properly priced, they will take it on.

Agents need to be armed with more knowledge and explain to people that the cycles change quickly, but over a period, it'll be almost always be positive.

What advice would you have for people looking to buy or sell?

Knowledge is key.  You've got to speak to the right people who are doing the business.  In one area I have people calling me to ask who they should sell with, and I can go into real estate markets and pick the stronger agents by looking at their recent sales, how they present themselves in their company and how their sales look online. You need to research and talk to others for recommendations and not make a quick decision about it.

Buying is another thing and buyers tend to look at a very wide area.  Home in on where you want to be and follow the market for three to six months until you understand it, and don't buy the first property. Get some advice from local agents to adjust your expectations and research.  There is so much information online now.

What is your top tip for those who want to flourish in real estate.

You need to have a passion for property and people, and like who you work with and the business that you are working in.  People lead by example, so look to the industry leaders when you are searching for a job.

Flourishing is about being happy in your environment and having someone you can learn from in a positive way -someone who provides a good platform with training and mentoring to grow in this industry.

You also need to have some drive and a passion for the industry.  It is not an industry you can walk into and just do the bare minimum.  The best agents I've met are passionate about the job, engaging to talk to, love what they do and have good people around them.

‍