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A real estate agency, which opened its doors in 1977, is celebrating four decades in the business as it continues to thrive in Sydney’s trendy inner west.
Warwick Williams Real Estate, in Drummoyne, is preparing to mark 40 years of business. The agency’s director Warwick Williams attributes the boutique firm’s success to its “reputation for integrity, honesty and professionalism”.
“Your reputation is something that nobody can imitate or buy,” Mr Williams said.
“Talk is cheap in our industry; a lot of people come and go and they think it’s a sprint race.”
“Some think it’s easy and all you need is a flash car and a suit, but it takes hard work to get a following, and we’re here for the long haul.”
Today, Warwick Williams Real Estate employs 30 staff and has a rent roll of 1,400 properties. The company has its beginnings as a Raine & Horne franchise. Prior to that, Mr Williams worked as a property manager for the Hooker Corporation.
He said “never even sold a property when I started out on my own”.
The agency’s first sale was a house worth $40,000 in Russell Lea. Mr Williams estimates that property is now worth close to $2 million.
“Back then, the inner west was very industrial with factories lining the Parramatta River and western harbour, and power stations pumping black grime out over the suburbs,” he recalled.
“Gentrification, particularly in the lead-up to the 2000 Olympic Games really transformed the area.
“We were in the right place at the right time and we grew with it.”
In 1998, the agency was the number one Raine & Horne office in Australia, after staying in the top 10 offices for a decade.
Mr Williams decided to go independent and formed Warwick Williams Real Estate.
“I felt it was time to stand on my own two feet, and gain the agility and flexibility of being an independent agent,” he said.
“There was a shift away from franchises, with more people wanting to deal with boutique agencies, so the timing felt right.
“It’s a funny feeling when you put your own name on a building, it’s like being exposed.”
Mr Williams said the highlight of the business was the sale of a harbour-front home in Drummoyne in 2013 for $4.5 million, a record that stands today.
Despite growing to multiple agencies and expanding the rent roll to 2000, Mr Williams made the decision to consolidate the business to Drummoyne because of a fear of losing control of the Warwick Williams Real Estate culture and to strengthen service for clients.
“I made the decision to have one very good office that I could control to ensure the service to our clients was never compromised. I try to instil in our team how essential it is for our clients to receive the best advice, have the most rewarding experience and excellent results,” he said.
While the industry has changed significantly since Mr Williams began his career, he said the essence of the industry has remained.
“Real estate has grown from a cottage industry to a corporate one,” he said.
“There’s been an incredible shift in how you do business – the transactional time has gotten shorter as people do homework via the internet before they come to you. There’s greater vigilance over how you do business but fees are less regulated so it’s more competitive and you spend more time pitching for business.
“But the fundamental business has not changed – you are helping to get a roof over the heads of people, and using technology to make it more productive doesn’t change the fact that you are dealing with people every day.”
Warwick Williams Real Estate has received numerous industry awards. These include the Marketing Campaign of the Year and Business Development Manager of the Year awards at the 11th annual Australasian Real Estate Results Awards (ARERA) last year, and Property Manager of the Year at ARERA in 2015. It was also recognised by Canada Bay Council for 40 years of service in real estate in the Canada Bay area.
Mr Williams has received the 1997 Paul Harris Fellowship medal for services to the community by the Rotary Club of Drummoyne and was Canada Bay’s Citizen of the Year in 2009.
