Michael Mahon
Reol Property Consultants
Real Estate
Age: 35
Business Est: 2005
Number of staff: 20
Growth: 20%
Turnover: $1.42m
FORGET virtual property tours – Reol TV is here.
The Burleigh Heads realtor sold $12 million of property in the last month, averaging $600,000 per sale. That number is expected to double in the next 12 months.
The business has launched a vigorous online marketing strategy and Reol TV, where potential buyers can view a mini documentary on listed properties.
Founding principal Michael Mahon says the move has brought an edge to the business as it seeks to position itself as the market leader in a competitive space dominated by multinationals.
“Our online marketing is second to none. There is not an agency in town that holds a candle to us. With Reol TV, it’s not just selling the house, but the street, the lifestyle and the capital growth,” he says.
The company was listed in the Top 100 Fastest Growing Companies in Australia by BRW over the last two years. Mahon’s business ethic is driven by a ‘can do’ approach that has resulted in the business bolstering growth in a tight market.
“When everything slowed down, we invested back into the company. I would be lying if I said I wasn’t daunted by the negatives in the media, but I looked at it from a logical point of view. The Gold Coast is the fastest growing region in Australia and people were still selling and buying. The difference is that clients became more discerning,” he says.
“We very nearly talked ourselves into a recession. It becomes a self fulfilling prophecy, but it’s important for us to spread the good news and we can.”
Mahon says the First Home Owner’s Grant prompted buyers ‘to get out there and commit’ and does not forecast diminishing sales with the roll-back of the initiative.
He also remains positive that conditions are quickly improving and recognises the latest .25 per cent cash rate increase as a good sign.
“It will affect people with mortgages, but I think most people in the community recognise it as a sign that things are improving,” he says.
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