SECTOR RESIDENTIAL PROPERTY MANAGEMENT
Taking a leap of faith to start a property management business
Grace Wu, Managing Director at LJ Hooker Mount Albert and mother of two, spoke with Head of Property Management at REINZ, Joanne Rae, about her journey of moving from employee to business owner and mustering up the courage to pursue her passion.
It’s almost two years since I started my own property management office at LJ Hooker Mount Albert. Whilst it was indeed a journey, it was my best career move so far because it has enabled me to have a healthy work-life balance with my family. Working in the real estate industry and meeting other likeminded people gave me the confidence to embark on this business opportunity.
When starting my office, my priorities were being a REINZ member and connecting with TPS and Palace. The LJ Hooker brand gives us a marketing advantage as it’s well known and trusted. Our team prioritises having the best software and tools to be more efficient with what we are doing.
In my previous role, I drove back and forth from Mount Albert to South Auckland for eight years — stuck in traffic for several hours, always with the fear in the back of my mind that no one would give me business if I moved from where all my connections and networks were. However, with constant encouragement from extraordinary people in the industry, including my previous employers, teammates, clients and friends, I decided to begin my own property management company.
Adopting a growth mindset
Building a brand By getting advertisements in the paper, making cold calls and using good old-fashioned word of mouth, we began to build the strength of a great brand. I was lucky to have previous employers pass me a few managements along the way in the early stages, for which I’m incredibly grateful. Additionally, I was fortunate to have many great connections before starting this office, which has kept me up to date with the latest laws and legislation.
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The Real Estate Institute of New Zealand
Grace Wu, Managing Director, LJ Hooker Mount Albert
We always gave ourselves plenty of capacity to grow and maintain the momentum. We have never let ourselves be in a situation where our team is too busy with too little administrative support. I believe if you want to grow your business, you must make sure the capacity is there. For each milestone we reached, we had planned for a new member to come on board. When I was in the planning stage of the business, I already had two people in my mind who I felt would be an excellent fit for the team. I invited them to join me right from the beginning. A top salesperson once told me that real estate is all about teamwork, and with this in mind, our team conquered challenges and worked tirelessly to grow the business. We celebrated every little win. Now, we are a team of five and looking to recruit again. The team knows they are well-supported and that we will all help each other.
