We’ve been closely watching leaders’ first 100 days since the times of President Roosevelt, and the two co-principals of McGrath Double Bay are no exception.
It’s been a busy start, co-principal Craig Pontey said, with the McGrath team reporting several milestone sales.
He shared with us the most pivotal moments from the team’s first 100 days operating under the McGrath banner.
To start, one of the most significant moments was the support received during the onboarding process, Mr Pontey said.
“We had a specialist in every single facet of agency to induct us, migrate us, and set us up for success,” he said.
“Property management – check. Public relations – check. Sales systems – check. Administration – check. Branding and marketing – check.
“It was the agency equivalent of flying first class – we were astounded.”
Mr Pontey paid special mention to operations personnel Violet Farebrother and Julie-Anne White for their assistance during this time.
He said another significant moment was the support and mentorship provided by two loyal McGrath employees, Simon Exleton and Chris Chung, who taught the co-founders the language and family values of the brand.
“Both loyal and passionate, the brand is in their blood,” Mr Pontey said.
“They are examples of the agents we want to attract more of: yes, they can skilfully sell real estate, but more importantly they have clear, clean ethics and family values that are the backbone of the business we are building together.”
Speaking of staffing, Mr Pontey said that the arrival of James Ledgerwood, and his associate Ben Fraser, had been a huge win for the team.
“With a 20-year career to his name, James is strongly established in Sydney’s eastern suburbs and well regarded for his record price achievements,” he said.
“We’re looking forward to James unleashing his potential in the coming months.”
Big-ticket sales
The McGrath Double Bay team also achieved several milestones in property sales, including a $6.25 million sale of a Tamarama home owned by the former chief financial officer of Afterpay, Luke Bortoli.
“The five-bedroom, four-bathroom, three-level house with double garage at 37 Fletcher St fetched $6.25 million,” Mr Pontey said.
“Simon (Exelton) sold the vendors that Tamarama home for $2,885,000 in 2015; a testament to the memorability of their experience with him.”
Then there was the $8.4 million sale of a Bondi penthouse to Kerry Packer’s grandson, Benjamin Packer Barham.
“A Bondi apartment record was set when James Ledgerwood achieved $8.4 million for the Kew Penthouse at 14/334 Bondi Rd. Benjamin Packer Barham (24), the son of philanthropic heiress Gretel Packer and Monaco-based financier Nick Barham, was the purchaser,” Mr Pontey said.
The team set a building record by selling a Bronte beachfront apartment for $4.5 million in under two weeks.
“The beach front apartment at 2/2 Pacific St, Bronte, was sold through Simon Exleton for $4.5 million pre-auction,” Mr Pontey said.
“The north-facing Bronte apartment with Bronte Beach and coastline views across Tamarama to Bondi from every room was purchased by a family who intend to rent it out for five years, before moving in and making it home.”
The team also sold a Bondi beachfront apartment for just over $2 million.
“Another special moment for the team was selling a beachfront apartment in Bondi Beach for just over $2 million in the iconic Pacific building,” Mr Pontey said.
The two-bedroom apartment has views over Bondi Beach and went to market when the owners relocated overseas, he explained.
“The property was hotly contested by five investors, before being purchased by a local investor a week prior to auction,” he said.
“It was sold by James Ledgerwood in conjunction with associate Ben Fraser.”
Recruitment drive
Mr Pontey said that the next 100 days would see the McGrath Double Bay team focusing on expansion.
“We are meeting with individuals whose core values and calibre of sales skills are suitable for our team culture,” he said.
“We have a strict policy around the type of person we want to work with and it has more to do with their personal attributes than their professional notches.
“The latter can be taught, the former is far more important.”
He said that the next 100 days would be about “about quality interactions with quality people”.
“We are developing a team of people that care, listen and understand that the picture is bigger than real estate, it’s about supporting others throughout life’s journey,” he said.
“We’re not about quick wins, we’re about quality interactions.”
