CELEBRATING 50 YEARS IN THE MARKET
THE real estate market has changed a lot over the past 50 years, but one constant has been the Professionals Michael Johnson & Co.
The team has been helping people buy, sell and rent property since opening their first office on Beaufort Street, Mt Lawley in 1967.
A second office opened in Davallia Road, Duncraig in 1978 and the Walter Road, Morley office opened in 2007.
Director Ian Cornell has been with the company from the start and said at the time they had just 37 rental properties under management and prospective tenants would collect the keys from the office and view the properties on their own.
The property management team now oversees more than 1500 rentals, and procedures are much more strict.
Director Tino Bruzzese, who started his career with the company in 1994, said the team had seen the market weather significant changes, including rising prices and decreasing block sizes.
“I was selling units for $40,000 and houses for $300,000 in the early days,” he said.
“Now they’re priced around $400,000 and $1.5 million respectively.”
Mr Bruzzese said technology had perhaps made the biggest impact in the industry.
“The way we sell has changed,” he said. “In the past, sales evidence was kept on microfiche and was three to four months out of date; you had to keep clippings from the papers to keep up with the latest prices.
“Everything used to be done in the print media and we used a typewriter to prepare letters. Now, everything is digital and proceeds faster.
“As a result, buyers and sellers are a lot more savvy, they too have all the information at their finger tips.”
Mr Cornell recalled using a “wet” photocopier in the 1970s that only printed one page at a time.
“Our first fax machine cost $2000 and when mobile phones came out they were the size of a brick and cost $2500,” he said.
Celebrating 50 years in the industry is a rare achievement and Mr Bruzzese thanked their past and ongoing clients for their support.
“We have had some investors who have trusted us to manage their properties for 30 or 40 years, and buyers and sellers who come back to us again and again as their preferred local agent,” he said.
“One particular client bought a home from us in 1976 and recently chose us to sell it for them 41 years later.
“It really is about the people, and when they use your services again and again it tells us that we must be doing something right.”
The Michael Johnson & Co Mt Lawley office in 1984.
This Inglewood home was sold by Michael Johnson & Co in 1976 and is on the market with the team for the first time in over 40 years.