Tree change boom

REI Super Employer Profile

Matt Childs, Patt Rice & Hawkins

Post-COVID Australia is embracing working from home, and that has resulted in a boom in buyers looking for a tree change. Matt Childs is only too happy to help them find their new escape. 

REI Super: What it is you enjoy about working in real estate?

Matt: It's the thrill of making a deal, whether that's generating a new listing or selling that listing, the reward in not only achieving the results for yourself, but for the two clients. That's probably the biggest reward in it all, achieving a happy outcome for them.

REI Super: What are your biggest challenges in your role?

Matt: We're a unique brand in how we operate. We're a Melbourne-based agency that operates throughout Victoria and New South Wales. We cover a massive area, whereas most agents focus in one small spot, so just generating exposure for our brand within that entire region is really difficult. We don't have the luxury of a real estate office with a window on the street, but we focus on a certain type of property and we pop up wherever that property is.

REI Super: Can you tell me a little bit more about the company history?

Matt: Pat Rice & Hawkins has been around for over 40 years. Peter Hawkins and Pat Rice were the two founding directors and it's been a boutique agency specialising in a prestigious line of rural property. It’s a niche market, but we’ve been very successful with it.

REI Super: You’ve been auctioneering for twenty years, so you’ve sold quite a number of properties. Is there one in particular that stands out?

Matt: I remember auctioning a historic hotel on the lake in Daylesford. It wasn’t exactly rural, I would call it more of a lifestyle property. It was a truly unique property, and we had a magnificent result on the day.

REI Super: The industry, and indeed, the world has been in upheaval recently. How has your business model changed since COVID-19 restrictions came into place?

Matt: We haven’t had to change too much. Like everyone we’re working from home more, but we don't do a lot of auctions anymore, and we don't run open for inspections because they've never been practical for rural properties. The properties we sell could be many hundreds if not thousands of acres, with the inspections sometimes taking two or three hours with each group. The only way we've been impacted is when doing those inspections, instead of having the clients in our vehicle, they've had to drive their own vehicle following us around the property. We just chat on the phone as we're driving around in separate cars. It's a small price to pay compared to how some people have had to change.

REI Super: What has the demand been like for these rural and lifestyle properties you offer?

Matt: I've never seen the buyer demand like it in my career. Many people are now working from home and they might do that indefinitely. The suburban or city environment with a large population has become less appealing to some people. The tree change concept of living in a regional area has become more popular.

REI Super: And has that increase in demand affected prices already?

Matt: Yes, they’ve gone up. They were heading that way anyway, largely because of low interest rates. Investors are looking at their options: the share market is turbulent, long-term bank accounts aren’t providing the returns they want. And when they look at rural properties, this year's probably the best agricultural season we've had in Victoria for more than 30 years. The price of livestock is at record highs, and demand on food production is right up across the globe. All these things point towards a buoyant rural real estate market. Particularly properties that are an hour or 90 minutes from Melbourne have been in red hot demand. We've seen results just in the last two or three months that are much higher than our vendors could have dreamed of.

REI Super: When you're recruiting staff, what do you look for?

Matt: Integrity, professionalism and knowledge about our market. It's one thing to be an estate agent but you've got to apply those skills and have the knowledge of our sector. It's a unique set of skills.

This information has been prepared and published by REI Superannuation Fund Pty Ltd ABN 68 056 044 770 RSE L0000314 AFSL. 240569. REI Super ABN 76 641 658 449 and RSE R1000412 MySuper unique identifier 76641658449129 for the general information of members of REI Super. It does not take into account any member’s individual financial objectives, financial situation or needs.