Interview with Mark Ferguson from Ray White Taranaki

“We started 12 months ago from nothing. We didn’t even know the market in which we opened an office in”

These are the words of Mark Ferguson from Ray White Taranaki, a man whose passion for people, property and the community saw his boutique start-up business trade 71 properties and over $17 million of property in its first twelve months – from the little country town of 1200 houses called Inglewood.

Ray White Taranaki was launched as a boutique Real Estate franchise (with his wife Rachel) in July 2009 during the midst of a recession where house prices had just taken a hit and the New Zealand housing market had slipped onto shaky grounds. New to the area and with everything to lose, Mark and Rachel managed to build the company from the ground up into a customer driven Real Estate Agency that they are proud to claim makes a real difference to the community in which it operates in.

With over 17 years of experience in Real Estate including Sales, Sales Manager, Training and  as an Auctioneer, we talk to Mark about his story of creating a successful business from nothing …. during the low of a financial crisis.

Where were you born and raised?

Upper Hutt and proud of it!

What were you doing before Real Estate?

Primary school teacher. Have been in real estate for the last 17 years.

When did you launch Ray White Taranaki and what was involved in the set up?

July 13 (my birthday) we were new to the town didn’t know anyone or the streets – we had to use a Map to get to appointments. We wanted to create a boutique style business that really cared about their customers and do that from a building that reflects our care and style for business. We are in a renovated Bank (ex Bank of New South Wales) built in 1888.

What was it that attracted you to Real Estate?

The ability to work with a lot of different people and through my skills being able to add value to the price realisation of a seller’s property.

What qualifications or experiences did you need before you could start up your own Real Estate business?

You need to be a Licensed Agent.  The Real Estate Agents Act was amended in November last year – prior to that you needed to be an AREINZ (an associate of the Real Estate Institute of New Zealand). That required completing a series of papers through TOPNZ or Massey University. I completed mine through a Diploma of Business Studies at Massey.

What was it that made you decided to choose the Ray White brand when considering launching your own Real Estate business?

I started my real estate career in 1994 with Ray White – (United Realty in those days). I then later worked for them as an Associate at a corporate level. The brand and company has developed significantly to 134 offices in NZ and I was looking for great technology/ large brand/ with marketing products and the looks that would suit my boutique business. Ray White was the perfect fit. Plus its still a family owned company – just like us!

What were your feelings towards the industry at the time of start-up in light of the negative media and down turn in the market?

I think the media just love to talk the property market up or down – anything in between does not interest them. Everyone seems to be an expert – yet few have the credentials/experience to make an informed comment.

How did you overcome this?

We just get on running a business. Real estate is not the only industry that is feeling the effects of a global recession. Many industries are far worse off – retail for example…. Now that’s real hard at the moment.

What would you say has been the key to your success in Real Estate over the past twelve months?

We worked 100 times harder than anyone else – and that is true! We worked through to midnight many nights in the establishment of this business. You have to understand we started from nothing:

• No real estate signs
• No listings
• No office signage/stationary
• No real estate licence to run from these premises
• We knew no one in our market
• NOTHING

But we had a hunger and a passion to succeed coupled with 16 years of skill/knowledge and expertise.

I have a great team. My wife Rachel is in sales support and runs the office systems, my selling partner Blair who would be one of the most talented realtors for his age in New Zealand (just 25 years old) and Debbie who provides administration support.

What would you say are the core values that you use to manage your business?

We have a very clear set of core values:

We established this family owned company to bring all the things that are right about real estate agency practice – into reality.

Our Passion - people and property
Our Vision – to be the very best customer care real estate organisation in New Zealand
Our Care – for our people, our clients and our communities
Our Integrity – will never be compromised. What we promise – we deliver upon
Our Innovations – be different in our marketing and approach to ensure the best for our clients

What has been the hardest thing about launching your own business in Real Estate?

Not spending as much time as we would like with our kids. We have a structure now that we can – but that was really hard!

What is the best part about your job?

As I am writing this a client comes into the office. We sold his property last week. He has his property on the market with another company for 5 months – we sold it in 3 weeks. We sold it because we gave him the right advice about price marketing and profiling. He was in the office thanking us – he is so happy to be moving closer to his grand children. That’s what I love – helping people move and realize the best possible price in the market.

Where do you see the New Zealand Real Estate market headed over the next five years?

I think we are in a settling in cycle and thus we will see little price growth over the next three years. The market will pick up after that – it always does.

What advice would you give our young readers considering starting up their own business or franchise?

1. Look at a number of franchises to compare
2.  Read a few books – I read ‘Toughen Up: What I’ve Learned About Surviving Tough Times’ by Michael Hill for inspiration
3. Seek mentors. I had three guys I rang constantly for advice and opinion
4. Work REAL HARD! As you get momentum that can button off a little bit but you need to put out a heap of energy into your trade area. It always comes back.
5. Don’t have a business plan  – have an activity plan. What you are going to do when and where.
6. Give back to your communities via CHARITY! We do and we feel good about it. Very important
7. Get a great accountant
8. Get out there and make it happen!

Lastly, what do you have planned for the future of Ray White Taranaki and where can we check out Taranaki’s hottest property on the market?!

We have BIG “top secret plans” all around business growth in the manner in which we wish to have our agency portrayed in the market.

HOTTEST PROPERTY

http://rwtaranaki.co.nz/cgi-bin/clients/rwnz//profile.cgi?propertyid=RS2800539&gid=24383

- for its current return and development potential on SH3

www.rwtaranakai.co.nz