INTERVIEW: MONIKA TU, Founder / Director Black Diamondz Group
Where her Chinese-focused business is headed given ongoing COVID constraints.
3 min
Monika Tu doesn’t mince words. Nor does she carry any passengers.
How else to explain what is now a rather well-worn tale – a story, hers, that details a Chinese immigrant who landed in Australia from Shenzhen in 1988 without any English.
She studied, claimed an RMIT scholarship and subsequently turned a basic market stall into a successful international electronics business. She’s since found incredible acclaim — and arguable dominance — as a property agent within Sydney’s tightly-held prestige property market.
There’s more to her work than simply opening residential doors — helping to forge and foster cultural and community links for her largely immigrant (predominantly from China, Middle East, Europe) client list, alongside arts philanthropy and an unwavering dedication to each and every day.
We caught up with Tu to discuss the difficulties of 2021 — and to better understand the road ahead.
Kanebridge News: There’s an incredible resilience that seems to frame the Sydney prestige market – but how difficult was 2020 in regards to your business and key clients?
Monika Tu: Obviously, Covid-19 had huge impacts on many businesses last year and ours was no exception. The restrictions on international travel hit us hard, however, we saw a surprising rise in local Chinese buyers wanting to buy a property quickly. People may think that most of our buyers are international. However, that’s not the case and many of these people had been holding out for the ‘perfect’ property — but when Covid hit they relaxed their expectations slightly because their main aim was to secure a property.
KN: And how do you view the road ahead?
MT: I see the market continuing to do well. The prestige market will always follow a different trajectory to the general market, but I don’t see things slowing down. With the influx of movie stars and wealthy individuals wanting to call Australia home, there’s only one way prestige property is going, and it’s up.
KN: There’s a belief in some economic quarters that things must naturally end, and soon.
MT: People have always said this, even prior to the pandemic. But Sydney and Australia’s prestige property market is robust, resilient, and has proven itself repeatedly. As long as Australia is seen as a world-class lifestyle destination, people will always be willing to pay.
KN: What was the allure of property that made you start Black Diamondz?
MT: If I’m honest, it wasn’t so much the allure of property that made me start Black Diamondz. It was the gap in the market of servicing the multitude of high net-worth individuals, predominantly from China, who were looking to call Australia home. Some agents were more than capable of finding them a great property but could not open other doors such as schools, lifestyle, business opportunities, networking, and philanthropy. This is the gap that I knew I was able to fill.
KN: How did you get your start in the prestige market?
MT: Black Diamondz really started by chance. There were a lot of conversations at the dinner table about new migrants searching for luxury homes, but a lack of services or guidance for them when it came to making decisions. One of my friends had a friend from China looking for a property and was having no luck with local real estate agents. I took him for a drive around Sydney’s Eastern Suburbs and just asked him what type of house he liked. He picked one, I knocked on the door and the owners said it was not for sale. Fast forward five days later and they sold it for $13.5 million. That is when I realised the need for this type of service was out there and took full advantage.
KN: Does the size of the deal you’re working to close ever intimidate, or is it something that drives you?
MT: For me it’s never about the size of the deal. I treat a $5 million apartment with the same work ethic that I treat a $50 million home. For me it’s all about giving my clients, both buyers and sellers, the very best experience possible.
I love smashing records, like selling Sydney’s most expensive home in 2019, but those things don’t happen every day and if that’s what drives you, you won’t last long in real estate.
KN: What do you think gives Black Diamondz a competitive edge?
MT: On the surface, it’s our proven ability to achieve consistent, market-leading results over the past ten years, as well as our international database. But deeper than that is our standing within the community. I know almost everyone in Sydney, and I have nurtured these relationships over the years. This is the key to a successful real estate business — your network and influence.
KN: You’re a self-confessed workaholic, is that a necessary mindset to achieved success especially in the market you work?
MT: I think the entrepreneurial mindset I have is what has made me successful — not only in real estate but in life. I never stop working but I also don’t see it as work, it’s my life and it’s what I do day in, day out.
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
7 min
Curb appeal—the attractiveness of one’s property—is everything when deciding to sell, rent, or simply add value to your home. That’s why Australians spend approximately $1 billion per year on property renovations.
“I am seeing smart investors and homebuyers now actively looking to upgrade, capitalising on opportunities in the market,” said Nunzio Bagnato, consultant at Homebuyers Centre Victoria. “It’s no longer just about looking for a specific price point; buyers are willing to pay extra for quality.”
From strategic renovations to expert upgrades, there are many ways in which you can add value to your property, no matter your budget. Whether you’re a seasoned investor looking to maximise returns, or a savvy homeowner wanting to spruce up your living space, look to these 10 ideas for maximising your home’s aesthetic and appeal…and in the process, add value to your property.
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1). A fresh paint job goes a long way
A fresh coat of paint applied to tired walls, whether on the exterior or interior, can do wonders for your home says interior designer and stylist, Jono Fleming.
“Give your space a makeover with paint to create a fresh and elevated look. This is an accessible tool to introduce colour into your home, which serves to transform the mood and feeling of a space,” he says.
“Colour is an incredibly powerful design tool, however itʼs incredibly important that the end result feels grounded and draws people into the space. I recently refreshed a bedroom in my family’s farmhouse using Fantan and Canyon Cloud from the 2024 Dulux Colour Forecast Muse palette, which has converted the space into a vibrant retreat filled with warmth and new life.”
Besides the obvious — paint acts as a protective barrier against the elements such as rain, UV rays, and moisture — a fresh paint job can immediately add value to your home. If you have some minor imperfections, such as cracks or dents, spend some time on prep before you paint for a better finish and a more durable result. For exteriors, lighter colours are a surefire winner.
“There’s a lot of interest generated from colours; a neutral palette appeals to a broader range of buyers,” says Mr Bagnato.
2). Landscape the garden
A well-kept, manicured garden can add thousands of dollars to the value of your home. If we learned nothing from the pandemic, it’s the value of a private, well-designed outdoor area. Spending time on landscaping your front garden will not only enhance street appeal, but can also increase the functionality providing areas for relaxation, entertaining, and recreational purposes across the site.
A well-designed garden including green space, paved areas, room for entertaining and water features, can also increase your property value by up to 20 percent, according to a study conducted by the University of Western Australia. For smaller areas such as apartments or townhomes, consider seeking help from a gardening specialist who can advise on the best pots, plants and flowers depending on the orientation and soil type of your garden.
3). Your home’s facade says a lot
The very first thing that people will see when looking to purchase their next property is the facade. Even when people are searching online, it’s often the very first image shown on a listing, and one that can make or break a property in a matter of seconds. A visually appealing frontage can set your home apart from neighbours, and can really set the tone for what visitors, future buyers, or investors can expect when they walk through the door.
Patrick Cooney, director of sales at Melbourne-based Milieu Property, agrees that the facade of a home leaves people wanting more.
“The vast majority of people only ever get to see and experience the exterior of a building,” he says. “This is an advertisement for those who walk and drive past. Having amazing architecture and landscaping leaves people wanting to know more.”
4). Who doesn’t love new flooring?
It’s always immediately apparent when a vendor has spent the time and money upgrading their home’s flooring. Besides changing the look and feel of your interiors, investing in high-quality flooring materials, such as sustainable wooden floorboards for common areas such as your living and dining space, and carpet for bedrooms, can immediately increase the perceived value of your home.
One factor to keep in mind is that upgrading your flooring is not only a costly exercise but a disruptive one at that, so careful planning is encouraged.
5). Add that new kitchen
Should homeowners ever consider the need to renovate their homes, the kitchen is often top of the list. However small or large, adding a new kitchen to your home can do a lot for adding value to your home. Why? Recent studies conducted by OnePoll suggest that individuals spend over 1000 hours a year in their kitchen. Whether it’s preparing meals, eating meals, or working from the kitchen bench top, having a kitchen that is accessible, practical but also aesthetically pleasing is every home owner’s dream. Costs vary widely but be aware that there’s not a lot of economy of scale involved. Designing and installing a small kitchen often doesn’t cost significantly less than a larger one.
6). Consider art and furnishings
Another great way to elevate the look and feel of your home—and add value in the process—is through the addition of decorative pieces and furnishings.
“Art, display books and uniquely shaped vessels add interest and are an easy way to introduce colour, achieving a cohesive palette,” Mr Fleming says.
Avoid generic prints and go for something bolder, like vintage advertising posters to add personality to the room. Original art, sourced either directly from the artist, through galleries or at auction is a great way to add a luxe feel to a room. Beyond solid walls, Mr Fleming says window coverings can also benefit from the right dressing.
“Curtains, in particular, are often overlooked as an interior design tool, but theyʼre such an easy way to add colour to your space without it feeling too permanent and can completely change the ambiance or mood within a space.”
7). Upgrade your bathroom
After the kitchen, bathrooms are high on the priority list for buyers. If you’re planning on selling soon, you can make a considerable difference by taking small steps; replacing older sinks and toilets, upgraded hardware and new lighting can instantly transform your bathroom. If you’re planning to stay, or you’re keen to create that ‘wow’ factor for would-be buyers, opting for additions like a double vanity, walk-in shower, bathtub, or simply choosing premium materials such as marble or other natural stone, can all make a significant difference to the value of your home.
If you have more than one bathroom to renovate, consider mixing up materials and fittings while staying with the same colour palette for a cohesive look.
8). Be inventive, add storage
Storage—or the lack thereof—is something all homeowners have to deal with. For many first homebuyers or renters, storage is likely one of those additions worth its weight in gold. So, as a homeowner, adding thoughtful and meaningful storage solutions can go a long way in adding appeal to prospective buyers.
“Smart storage solutions can change one’s home from a nice home to a great home. The majority of people have a plethora of ‘stuff’ and finding a place for these are key,” said Mr Cooney.
“Whether its dropping off your keys and a dog lead in your welcome station by the front door, to having an appliance nook for your coffee machine and toaster, or ensuing you have the basics like adequate bathroom storage that accommodate a hair dryer, these are all incredibly important considerations.”
9). Is your home ‘smart’?
Integrating ‘smart’ technology is something we’re likely to see more homeowners do. While the outlay and time spent in setting up a smart home can deter some, considering things like integrated security systems, sensor blinds, keyless entry systems, smart lighting controlled via your phone, and indoor/outdoor entertainment systems can appeal to tech-savvy buyers (and ultimately increase your property’s value).
“Smart tech for the home can be pushed as far as people are wanting. At Milieu, we generally now include smart locks, smart parcel lockers, energy monitoring and number plate recognition access to basements to our new developments,” said Mr Cooney.
“In our last three projects, we have specified VZug appliances which can also be controlled from the touch of your phone.”
10). Sustainability is key
As we all look to add sustainable measures to our homes for a better, brighter, and greener future, energy efficiency in and around our homes will only become increasingly sought-after among home buyers. This can be done by installing solar panels or energy-efficient windows and doors, installing skylights, opting for appliances that save on power, and increasing ways that save on utility bills, like swapping gas for electric induction stovetops.
“Buyers are highly focused on sustainability and future-proofing their homes,” said Mr. Cooney. “Highly sustainable buildings, with EV provisions are key. People place a premium for sustainability and especially EV charging – the mindset has change from, ‘I may get an electric vehicle’ to ‘when I get an electric vehicle’.”
Adding an EV charging station, should you own a hybrid or electric vehicle, is a great initiative to consider for your home. Not only can an EV charging station power your vehicle, but its power can also be offset to power parts of your home.
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Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
