Lessons from three Aussie billionaires

Want to be wealthy? What real estate agents can learn from these three Aussie billionaires.  

As the saying goes, success leaves clues. In a recent AFR article three of Australia’s wealthiest people – Gerry Harvey (Harvey Norman), Jack Cowin (Hungry Jacks), and John Van Lieshout (Super A-mart) – shared their advice on becoming wealthy: 

1.They’re all business owners.  

Their wealth journeys started with taking a calculated risk. They backed what they knew and backed themselves, and put in the hard work to achieve success. But lots of people work hard and don’t become wealthy; the difference is they all did for themselves, and that’s why you should start your own business. 

2.Think 10 years ahead. 

Gerry Harvey suggests you should always think about what’s around the corner. What will your industry look like, how will it shift, who will your competitors be? 

This applies to real estate in a couple of ways.  

Firstly, many agents focus on the short-term game, with little foresight for the future. One of the great things about real estate is the reward for hard work. You can make as much as you want, and if you invest a portion of your income for the long-term you’ll build wealth most people only dream about (see how long term thinking can grows wealth in this article). 

Secondly, competition – we’re in a fiercely competitive industry and it can feel like you have to go to battle day in, day out. Standing out and creating a strong personal brand is critical to long term success. This can be in how you treat people, how you market yourself, and the results you achieve. 

Vendor preferences are also changing, aligned to the general move to supporting local business. We predict a continued rise of the independent agent and vendors choosing to support locally owned and operated agencies over generic franchises. 

3.Embrace risk. 

This may be the most important advice: nobody has become a billionaire working for someone else. And Van Lieshout thinks more Aussies should be their own boss, “Australia is full of talented people who should have their own business.” 

While the stakes can be high, taking an educated risk can pay huge dividends. Had Van Lieshout decided not to start Super A-mart, he wouldn’t be sitting on his $2.72B property portfolio now. 

For agents, starting your own business doesn’t have to be difficult. You’re already doing most of what it takes to be successful building your name, a client list, and your reputation. All it takes is a small shift in mindset to realise you are the reason for your success and people will follow where you go. So why shouldn’t that be your own brand?  

Who knows, if you take a chance, you might just find yourself alongside these billionaires one day! 

Who knows if you take a chance, you might just find yourself alongside these billionaires.