The PROPERTY DOCTORS, Sydney Australia Novak Properties
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The PROPERTY DOCTORS, Sydney Australia Novak Properties
EP. 1418 UNLOCK YOUR FUTURE: GATEWAY INTO REAL ESTATE
The world of real estate isn't just for the middle-aged professional anymore. This eye-opening conversation with property management trainer Nathan Pansini shatters preconceptions about who can thrive in this dynamic industry and when they can start.
Did you know a quarter of Sydney real estate agents are between 25-34 years old? Yet many newcomers face unnecessary struggles because they lack proper preparation. Nathan shares his passion for properly equipping new property managers before they're thrown into challenging situations, preventing the expensive cycle of burnout and turnover that plagues many agencies.
Most fascinating is the revelation that real estate truly has no age barrier. From the 11-year-old eager to print letterbox drops on weekends to the 16-year-old learning to handle difficult rent collection calls, young people are finding valuable entry points. As Billy notes, property management may be "the pool of hard knocks," but it provides exceptional foundational knowledge for any real estate career path.
The conversation explores why young people typically gravitate toward sales (spoiler: it's the glamour factor of "TV shows and Lambos") while the equally rewarding property management side remains hidden "like an iceberg" with most of its substance below the surface. Nathan's work with school-based traineeships shows the tremendous interest from young people seeking alternatives to university education, with programs filling to capacity within hours.
Whether you're considering a career change, guiding a young person's professional journey, or managing an agency seeking fresh talent, this discussion offers valuable insights into the multiple gateways into real estate. Ready to discover which path might be right for you or your team? Listen now and reimagine what's possible in property careers.
young people exploding into real estate. There are tricks, these things. You should know what to do, what not to do. We're going to teach you this morning. Stay tuned.
Speaker 2:Good morning gentlemen. Nathan Pansini, thank you for joining us Morning. Billy. How are you mate? Really good. You got great exposure to our topic this morning. Gateway into real estate. You're probably seeing the most up and coming agents, probably in the country, a big real estate trainer.
Speaker 3:Yeah, mate, working in the property management space as a trainer has been a bit exciting, but it's also opened up, I guess, a real flow of staff, that there's a lot of older staff heading out, a lot of retirements happening and, yeah, seeing a lot of new young people coming into the industry.
Speaker 2:And where do we start? Do we talk about, you know, what the first step is for some of these people you're seeing? Do we talk about prior learning of what they've been doing beforehand?
Speaker 3:Yeah, I think so. I think, yeah, I think we could do that. And I think what I really want to sort of get into is like the experience of Mark, the experience of yourself, yeah, how you know how that sort of worked, what the benefits are. So we'll segue sort of segue into that. I'm happy to open up with mine if you like. So ask me, go with me first and talk about what I'm doing, and then I might throw over, or you can then throw over to Mark, or you know what I mean. Give a bit of experience that way. So, yeah, I reckon that's probably the right idea.
Speaker 1:Well, billy. I think Billy's a shining example. He started when he was in the office at 15. Now he's 16.
Speaker 3:And look at him now. Yeah, that's exactly what I'm after, though. I'm after that Like, that's awesome.
Speaker 1:Yeah, look at him now 16 and a half I think, but actually out of interest we've got an 11-year-old starting with us as well.
Speaker 3:Yeah right, wow, yeah, yeah. Year old starting with us as well. Yeah right, wow, yeah, yeah. You're saying that last night.
Speaker 1:That's he's uh a mate of mine, a mate of mine's son is is stinging, stinging to get into real estate stinging. So I told him he can come in and print letterbox, drops off uh for us. And he's over the moon. He's going to come in on every second saturday to do it. So you know, there's opportunities, there's a bit of fun, but I think principals are going to open their minds up a little bit and, you know, foster the process because these kids are seriously talented and keen.
Speaker 3:Yeah, they are, yeah, they are yeah and they bring an energy Mark. That, like when I build a property management team from scratch, I look at it and do the mix, because you've got to have that level-headed experience but at the same time you want that young energy there to keep us rolling. You know, because we feed off that now billy you what do you?
Speaker 2:reckon bill yeah, well, I'm just going to give some context here, because I do found find this fascinating um a quarter of real estate agents in sydney are between 25 and 34 years old, but the median age is 43 to 44 years old. So that's kind of like, when you think of your career, I I would think that somewhere in the middle I would think that somewhere in the middle.
Speaker 2:What do you mean? Well, you know that's, that's like midlife 40, you know mid forties, fifties, that's interesting, there's 550 real estate agents operating on the Northern beaches selling selling, selling that.
Speaker 1:That's interesting because that's a much older mix of agencies than I actually thought, nathan. I thought agencies were much younger than that.
Speaker 3:Real estate agencies as a whole, the agencies yeah, right, yeah, well, yeah, I'm surprised by that. Yeah, yeah, I'm surprised by that, yeah.
Speaker 2:Yeah, I am surprised by that. It is a fantastic gateway, though, yeah.
Speaker 1:So why do most kids want to get into sales first, when there's kids coming out of school or 18, 19, 21, 23? Why sales? It's all they think about. It's all they talk about. I think they see it as glamorous mate to why sales? It's all they think about. It's all they talk about.
Speaker 3:I think they see it as glamorous mate. To be honest with you, I think they see you know the high profile, the TV shows, you know the high profile agents driving Lambos and things around, and I think that's what they see and that's what they want. They see it as a desirable you know a desirable career and I think they see the PM side as tough and rough and tumble and you know a bit dirty, which at times it is. It's exactly that, um. So I think they see it. Bill, did you?
Speaker 1:feel that way.
Speaker 2:I think it's got more exposure to the shiny side of the business, but property management is a lot more behind the scenes. It's a little bit like an iceberg you kind of see the tip from the top and underneath there's just so much more to it and I think in sales it's really easy to find that top of the iceberg because it's always on social media, tv, fancy property videos, whereas with with property management, I think there's a lot more that goes underneath. You can't see it. So it's a really good starting. Definitely the thing I love the most is there's no age. Uh, the gateway into real estate can be 16. Um, you know, doing it in your last two years of school, it's which, which is what I did. It can be 11 years old and I'm not really real estate as such in selling, but it's it's getting exposure to the back end of the business, you know, or any other point in your career where you want to change across and do something different. That's what I love.
Speaker 1:That's a good point. So, nath, you're a trainer. Nath, you're a trainer for property management. Your focus is on getting the young bloods into real estate, into property management and working them and getting them educated as fast as possible. Tell us more.
Speaker 3:Yep, yeah. So I guess for me it's a real passion to have people enter property management because they choose it, not because they didn't make it in sales or something you know anything like that, or they they couldn't study uni course. I want them to choose to come over to the property management side. That's, I guess, my initial passion for doing this is choose the career and and and you're right about that is getting them there the fastest but also the most prepared.
Speaker 3:Because one of the things we find when property managers turn up to an office, we employ someone. They never had any experience. They got the right, you know vocabulary, they speak well, they can handle conflict. We put them in the chair, but they've really had no training, they've had no experience. No one's told them, you know, about what can happen. So I guess for me, being in the space that I want that I'm working in is really giving that education so that when they turn up they're not confronted because we turn up, we put three months into them, someone tells them to you know, you know what, and then all of a sudden they leave and we've just spent three months and we all know how expensive it is to employ and train people and the next thing you know, they leave. So for me it's about preparation more than the word training, prepping them.
Speaker 2:Yeah, stunning.
Speaker 1:Billy, did you have this prep?
Speaker 2:Yeah, I got the Novak prep, the pool of hard knocks. It's tough out there. It's tough. You get a lot of objection very quickly. One of my first jobs was to pick up a phone list of name and numbers and and just finally remind them that their rent was behind, and you can imagine the response there done that myself, mate at the age of 17 yeah, oh yeah, it was fun, but I'll go back to what Lisa just said.
Speaker 2:What it does do is it gives you a really good, solid foundation and it gives you insight into all the different parts of the business, and whatever you choose to do, whatever your passion is, I think it will help you. Yeah.
Speaker 3:Yeah, yeah, exactly, and I think too, like the school-based traineeship stuff that I'm doing with Department of Ed is more than just PM, and I've come to realise that is that we will feed the industry, as opposed to just feeding one side, because I start with that in mind, the PM side. But when I look at it realistically, I think what we need to do is feed the industry as a whole and let the people, or let the talent of the person, decide where they go.
Speaker 2:Yeah, agree, it's hard to hold someone back if you try quickly to find they like something or don't like something. That's the nice thing again, working in a good office, you'll be able to go in the direction that you love, totally, totally, yeah, yeah, yeah.
Speaker 3:And then the other thing, mark is, is um is getting um agencies buy into this. So it's about getting principles buy-in to say to support I think mark dropped out.
Speaker 2:We've got a little bit of audio feedback. I don't know if you can hear the audio.
Speaker 3:Yeah, I can hear it. Yeah, okay, got it, got to go out, Okay cool. There we go, got a really bad line.
Speaker 3:Sorry, gentlemen got a really bad line, sorry, common always saying so we're just talking about not holding them back, about channeling these telling these newcomers to the industry into either property management or sales, or in fact, it might be a marketing manager, it might be someone who is good at that type of angle. So, yeah, it wouldn't be fair to hold them back. So so I think that's really key, billy, to what we're doing and so what are you doing at the moment?
Speaker 3:Yeah, so I guess the main role is property management educator for lead-able training systems, and we're out and about in offices, you know, I guess, solving some of the challenges that offices have in property management.
Speaker 3:It might be staffing, it might be tech stacks, it's those types of things. And really, lee and I started this by wanting to help officers with what to say and what to send, because there are plenty of trainers out there who are doing fantastic work, but they're working with acquisitions, you know numbers, these types of things. I can do that, but the basis of what I'm doing is what to say, what to send, and helping them with the conversation. And we recently held a one-day event in sydney, uh, which we had 84 attendees, including principals and a whole range of different people, and in that we they had a workbook to work through and they went through this, this scenario of you know conversations and you know winning listings and how to handle difficult conversations. So, and then, flowing on from that, yeah, then, as you say, the side project then is to help grow the industry and feed them in from schools where kids have you know already.
Speaker 3:I mean, we had 20 kids register in about 16 or 18 hours. It was up for at school and we had 20 kids register in about 16 or 18 hours. It was up for at school and we had 20 kids register which was the, the, the capacity of the pilot, um, so I guess that demonstrates the interest. Um, you know kids that don't necessarily want to go to uni yeah, doesn't surprise me at all where do you go?
Speaker 1:like it doesn't surprise me at all. Where do you go? Yeah, like I think, billy, if you think back to when you started, where do you go? And I guess you've got to do a full-on course or there's nothing in between, you know yeah heavily right. Guys, I've got a really bad line. I'm going to dip out. I've got a really bad line with you, hopefully to dip out. I've got a really bad line with you. Hopefully that will improve your chat. But thanks, legend.
Speaker 3:He's gone. But yes, I guess that's the main thing and, as Mark and I and yourself were chatting about before, it's about agencies opening up and principals opening up to this idea, and you raised a really good point before about it's not also about young people as well. We can actually, using this program and this process, we can put people of any age into real estate. So it really does span, because I think, as a young person, you really raised a thought I guess bubble for me, thinking well, you're right, it's about any age entering real estate. We can assist and put these people through this program.
Speaker 2:Yeah, because the barriers to entry are all people.
Speaker 3:Really people not knowing where to start.
Speaker 2:Yeah, no, no for sure, awesome mate. So how do people find you if you're training or preparation, as you said? Yeah, so leewoodwoodtrainingsystemscomau.
Speaker 3:So if they jump on there there's a contact Nathan button on there or Nathan Pensini Auctioneer on Facebook. I do a little bit of auctioneering as well, so look, yeah, reach me on socials. Leewoodwood website and happy to have a chat to anyone interested in jumping into real estate.
Speaker 2:Yeah, stunning. And the same thing for any agencies, I guess.
Speaker 3:Yeah absolutely, yeah, most definitely, any agents that need help with property management. As I said, that's what I do all day, every day, so I'm happy to help out with that as well.
Speaker 2:Thanks, nathan, appreciate your time this morning. Good insight. You don't hear from trainers like that every day, so it's been very interesting. Thanks morning. Good insight.
Speaker 3:You don't hear from trainers like that every day, so thanks, billy have a great morning.
Speaker 2:Take care, guys.