CEL­E­BRAT­ING 50 YEARS IN THE MAR­KET

Eastern Reporter - - Residential - Natalie Hor­dov

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 “In the past, sales ev­i­dence was kept on mi­cro­fiche and was three to four months out of date; you had to keep clip­pings from the pa­pers to keep up with the lat­est prices.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.

Ian Cor­nell

Tino Bruzzese

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