Monika Tu: “I’m the best agent”

Kanebridge News: What Drives Monika Tu to wake up in the morning and work in property?

Monika Tu: I just want to do the best I can, get a couple more deals done — I just want to do another deal, take the commission, move to the next one. I just don’t want to waste time. I also have a lot of commitments to charities which drive me too.

KN: But why property, over another industry?

MT: The number one thing is the longer you’re in the industry, the better you get. With other businesses, you must buy and sell. For real estate, you don’t have to buy and sell, you just take this property, you put the strategy behind it, you work hard, you find the right buyer, you sell it, you get commission.

KN: The prime property market — in which you operate — has had little stock the last few years, how do you navigate that?

MT: When the stock is short you really must find your niche — ask yourself why do they [clients] want to work with you? I just have that unique selling point, that will just stand out amongst everybody else. We sell to local, maybe about 60% of our buyers are local buyers but that other 40% of international buyers — I corner that market.

KN: But right now there’s a shortage of stock in Sydney’s eastern suburbs, do you tell buyers to look beyond that? How do you manage a motivated buyer?

MT: I’ll give you an example. If somebody wants waterfront, the first question is how much you have? They go, ‘Oh, I’ve got 15 to 20 million dollars,’ or, ‘I want to buy for 30.’ Darling, to be honest, for that kind of budget, you want the eastern suburbs then you’re only buying a dream. Sometimes you just have to be flexible for change, and I’ll try and suggest waterfront in Northbridge or Mosman. Just because you have the money doesn’t mean you can get what you want.

KN: You’re the break-out star of season two of Luxe Listings Sydney. How would you describe the experience?

MT: I’ve done a lot of TV appearances in the past. I mean, I’ve been on Unreal Estate with Channel Nine. I’ve got global properties with the ABC. I’ve done quite a few in the past, I’m kind of a semi-pro. But Luxe Listings is a different level — I think Amazon has a much bigger budget and everything is so professional.

KN: And what of your co-stars? In the real world, away from the show, do they motivate you? Does someone like Gavin push you to be better?

MT: Nobody pushes me better because I think I’m the best. I think it gives us an opportunity to get to know each other — we get to know the real person rather than just a competitive agent. I think we probably bring the best out of each other.

KN: Why would someone do business with you over another agent?

MT: If you are desperate to sell, I won’t have the buyer for you. My [buyers] take time to understand the property and I take time to find the buyer who will pay the premium price. In the end, the buyer is happy and the vendor is happy. My brand is, ‘can I be your trusted advisor?’. With my clients, I think I’ve become more like their friend than their real estate agent.

KN: What do you think is the next big trend in the luxury real estate space?

MT: I think what is coming is the penthouse with the view. You see all the very wealthy Australians are older, 70-, 80-, 85-years old, so where are they going to go? That’s the ultimate retirement plan and for some of my Chinese friends — it’s quite easy to maintain.

KN: And what’s next for you?

MT: Well, I want to become a queen of the penthouse. Seriously, you watch me for two years, I tell you, I will get all the big penthouses in Australia. Also, season three of Luxe Listings and continuing to work with my charities.

blackdiamondz.com.au

There are 10 local council areas scattered along the East Coast of Australia that offer both affordability and solid fundamentals for sustainable future growth, according to the research team at residential property network, PRD. The areas have been selected based on five criterion. They are affordability – defined as a median house price below $600,000, rising house values, strong rental yields to encourage investment, a strong pipeline of residential, commercial and infrastructure projects to facilitate local economic development, and low unemployment.

Here are Australia’s 10 most affordable regional property markets with great future potential.

Mackay, QLD

Mackay is a tropical coastal area located in north Queensland. It’s known for its closeconnection to the Great Barrier Reef. The median house price is $462,750, up 8.9 percent in 2023. Mackay attracts a lot of interstate migrants and is home to more than 120,000 people. It has a healthy economy with an unemployment rate of 3.7 percent and $1.7 billion worth of projects due to commence this year.

Toowoomba, QLD

The Toowoomba median house price was up 10.9 percent in 2023.

Toowoomba is located west of Brisbane and is known for its Victorian buildings, street artand surrounding national parks. The median house price is $560,000, up 10.9 percent in 2023. The city has a population of more than 180,000. The unemployment rate is 4 percentand there is $6.1 billion in projects commencing in 2024.

Townsville, QLD

Townsville is a coastal city in north-eastern Queensland. The median house price is $420,000, up 5 percent in 2023. It is home to more than 200,000 people. Unemployment is very low at 2.5 percent and there is $3.2 billion of projects commencing this year.

Dubbo, NSW

Dubbo is located west of Newcastle in the Orana Region and is home to the Western Plains Zoo. The median house price is $530,000, up 11.6 percent in 2023. The population has exploded in recent years to more than 56,000 people. The unemployment rate is just 2.2percent and the economy is thriving. There is a pipeline of $4.7 billion in projects commencing this year.

Tamworth, NSW

Located in north-east NSW, Tamworth is known for its popular annual Country Music Festival. It’s also the largest retail centre for the New England and Northwest Slopes regions. The median house price is $490,000, up 14 percent in 2023. With a population of more than 65,000 people, the economy is strong with unemployment of just 2 percent and $112.4million worth of projects commencing this year.

Griffith, NSW

Located west of Sydney and northwest of Canberra, Griffith is known for its prime produce production and wine cultivation. The median house price is $531,000, up 2.1 percent in 2023. Griffith’s population is about 27,000 people. The city boasts high economic resilience with a 2 percent unemployment rate and $258.7 million in projects in the pipeline.

Ballarat, VIC

Ballarat is a 1.5–hour drive west of Melbourne. It’s popular with city commuters who move here for housing affordability and a relaxed lifestyle with easy access to the city via train. The median house price is $570,000, down 4.2 percent in 2023 but up 92.9 percent over the past decade. The city has the third highest population in Victoria at about 118,000. Ballarat has an unemployment rate of 3 percent and a total projects pipeline worth $2.3 billion for 2024.

Shepparton, VIC

Shepparton is a rural area about two hours north of Melbourne. It is popularly referred to as ‘the food bowl of Australia’. The median house price is $475,000, up 4.4 percent in 2023. The population is about 70,000. The unemployment rate is just 2 percent and there is $1.8 billion in projects for 2024.

Wodonga, VIC

Wodonga is located on the border of NSW on the southern side of the Murray River. It is approximately 320km from Melbourne and 345km from Canberra. The median house price is $567,250, up 4.7 percent in 2023. With a population of about 44,000, the city’s jobless rate is 3 percent and there is $388.2 million in development set to commence in 2024, primarily new infrastructure.

Burnie, TAS

Burnie is a bustling port city located in Emu Bay in Tasmania’s north-west. Overlooking beaches and parklands, the area is known for its rich agriculture and mining projects. The median house price is $435,000, up 3.6 percent. Despite a rising population, the unemployment rate is falling and is currently 5.6 percent. In 2024, Burnie’s project pipeline is valued at approximately $1.6 billion. A significant portion is commercial development, primarily renewable energy projects.