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How does your usual day look?
For the most part, my mornings consist of helping get the kids ready for kindy and school before I head out for breakfast or coffee meetings. I like to take the morning to think about my priorities for the day, catch up on emails, news, and overnight developments on social media platforms. Then I tend to fill the day with meetings, networking, inspections, and deal negotiation. I try to head home for about 7pm, to ensure I get a chance to see the kids before their bedtime. I am a bit of a night owl, so I am guilty of tapping out the odd email or thinking about strategy late into the evening!
How did you start your career in commercial real estate?
I studied real estate at Auckland University and was fortunate enough to be placed in a part-time role at a real estate investment management firm whilst continuing my studies. From there I have held various roles in New Zealand and abroad, all focussed on commercial real estate.
What do you enjoy most about being at Ray White Commercial? What makes Ray White Commercial different?
I enjoy the fact we have local experts with international reach and that we have so much potential. But most importantly I enjoy being a part of a trusted and reliable brand. We are different because we have a reasonable amount of latitude and autonomy running our respective franchises. Our strength lies in our people and our ownership structure brings about an intense passion and desire to succeed which tends to cultivate the best talent.
What are your go-to property marketing methods that you present to your clients?
It is widely reported that people spend between three and five hours a day on their phones with no sign of that focus diminishing. It stands to reason that I am a big fan of all forms of digital marketing. Digital happens in real time, giving us the opportunity to scrape data, hone content and be more targeted, ensuring we get the right information to the right people at the right time ultimately assisting us to achieve optimum transaction results.
Tell me about a unique success story?
I’ve been on board at Ray White for a few months now and am a ‘newbie’ agent starting relatively late in my career – having said that we are utilising and demonstrating a deeper level of background experience than many of our competitors and that bodes well for our clients. We have recently won a competitive pitch against established competition for a major asset as well as negotiated some complex off-market transactions in specialist areas much to the delight of our clients. Clients are really valuing the quality service offering we are promoting, and this is quickly becoming a differentiator for us with repeat work and increased market share as a result.
Do you auction?
Yes of course! For the right property, auctions tend to result in a quicker and cleaner transaction. Employing excellent marketing techniques in the lead up to auction can result in a packed auction room (including online with increased accessibility) and the chance for a bidding war. Interested parties will often go head to head and the result can far exceed vendor price expectations where alternative methods may not have achieved the same competitive tension and outcome.
What’s the one thing you know now, that you wish you knew when you first started out?
Set aside time to think. We tend to measure ‘success’ in terms of how busy we are or make ourselves. I am a big believer that to have maximum impact and effectiveness you need minimum interference. Routinely taking time to think critically is essential, and there is no reason to feel guilty about doing so.
What is your outlook for the Auckland market over the next 12 months?
COVID-19 is still front of mind for many clients at present. Economic growth and sustainability remain pivotal for investor confidence, and we will see increased scrutiny of tenant covenant as a result.
Occupiers are looking for curated workplaces and safe havens which bind more widely distributed workforces together. We will likely begin seeing a phasing out of traditional lease forms in favour of Management Agreements and Profit/Revenue Share arrangements. This will largely be driven by the occupier market which is less willing to accept significant lease liabilities on balance sheet.
I think the next 12 months will see accelerated transformational workplace change, rapid development of Proptech solutions, increased automation, a laser like focus on convenience and experience, and greater divergence between ‘essential services’ investment product and the ‘rest’.
Innovation no doubt lies ahead and I love that. I am certainly looking forward to keeping abreast of developments and helping clients navigate their property endeavours.
CONTACT
Email: mike.hoeft@raywhite.com
Phone: +6421560491
