Login
iscover
Clarke & Humel principal Michael Clarke is proof that having a stronghold on a state requires consistency and adaptability in a changing market, rather than sweeping changes.
The agent has emerged as the second-best agent both in the REB Top 50 Agents NSW 2023 (for the third consecutive year) and in the Top 100 Agents 2023 rankings.
He sold 186 residential properties across the 2022 calendar year for $771.5 million, a slight improvement on the total sales value of $770.5 million he achieved in the previous year.
Mr Clarke – who operates in Manly and the Northern Beaches in Sydney – said his accomplishments are a culmination of almost two decades of hard work, dedication, consistency, and a concerted effort to grow in a changing market.
“I continued to do what I’ve been doing over the last five or so years in a changing market,” he told REB.
“My team and I recollected what strategies we used during the GFC, or around 2004–05 when I entered the real estate market, as well as 2012 which was a tough year. I used the lessons I learnt during that period when the market turned.”
Mr Clarke also credited his wife, business partner and the second half of Clarke & Humel, Cherie Humel, also a principal at the agency.
“I workshop every single deal with her, sometimes to her frustration,” Mr Clarke quipped.
“She’s the ultimate strategist in the business across everything from securing more listings to recruiting talent.”
Providing “airtight” communication with buyers and vendors throughout the property transaction process helped Mr Clarke and his team manage everyone’s expectations including their own, Mr Clarke added.
“We might have had a conversation with the vendor at the initial stages of their property campaign and listed their property for a potentially strong price,” he explained.
“But the market could have changed in the six to eight weeks since we listed their house or since we had that initial discussion with them. But through very good quality communication, we could either seize the moment with a buyer who made an offer early, or we could make the necessary adjustments.”
As interest rates have risen and lenders have tightened their policies, buyers have been questioning why they should proceed with their purchase if their property value could depreciate in the near future.
“We’ve had to help vendors understand what a good offer is. Sometimes, an offer didn’t feel good until they looked back retrospectively,” Mr Clarke said.
Nevertheless, the rising rate environment has not impacted the top end of the market significantly, which is where Mr Clarke operates (he primarily sold houses in the Northern Beaches that were priced around $5 million in 2022).
“Many people did quite well financially during COVID but hadn’t found a home to upgrade into over the past two years,” he said.
“We sold properties to people who had been waiting until the right property came up.”
Referrals also helped with Mr Clarke noting that while clients might forget what agents say, they remember how they made them feel.
“I’ve always focused on ensuring that with each transaction, the vendor knows that I flogged myself to get the best result I could, while the buyer understands that we’ve conducted ourselves in a transparent way to ensure the process was fair,” Mr Clarke underlined.
The current state of the market excites Mr Clarke, he said, as it is neither a boom nor a bust.
Instead, the market is fluctuating between contractions and expansion, which he said is conducive to meritocracy and allows the top agents to shine.
“When the market booms, it can be difficult to convince vendors that it matters which real estate agent they choose to sell their property. If an agent with no experience can set a street record, that indicates that the market is strong. But a market in bust is stressful both for us and vendors,” he said.
“But the current market really allows us to prove that it makes a difference which agent a vendor chooses. In many ways, that’s most satisfying because real estate is a great leveller over the long term.
“You can see who’s putting in the effort and doing the things they should be doing to thrive.”
Mr Clarke concluded by advising new agents to absorb knowledge from mentors and implement it, and remain humble throughout the process.
He concluded: “I’ve never encountered a scenario where arrogance helps. There’s always going to be somebody better or worse than you. But if you can be better today than yesterday, then you’ve done a good job.”
Click here to view the full list of the REB Top 100 Agents and Top 50 Agents NSW 2023 rankings.
You are not authorised to post comments.
Comments will undergo moderation before they get published.