Bayleys champions and supports young property professionals as they establish their careers in the fast-paced real estate industry.

Figures from industry regulator the Real Estate Authority (REA) show at 30 June 2024, there were 15,489 active licensees operating in New Zealand. Of these, 3,528 – or around 22 percent – were aged 18-37.

Traditionally, real estate has not been seen as a first career but that is changing as new graduates come out of the university system armed with property or business degrees and a hunger for the industry.

Keen to see young property professionals succeed in the competitive real estate market, Bayleys established its Bayleys Young Networking Group (BYNG) as a key initiative to help attract young talent to the company and help support them through the formative years of their careers.

Last month, 16 top-performing brokers from BYNG celebrated the achievements of the last financial year, travelling to Brisbane and hosted by senior brokers Sunil Bhana of South Auckland Commercial, and Fraser Press, Wellington Commercial.

The group attended the State of Origin Game 3 decider, where New South Wales claimed their first series title in three years beating the Queensland side, spent some time in the Brisbane sun, and networked with colleagues from Knight Frank, Bayleys’ global real estate partner.

Bhana says real estate is increasingly perceived as a credible career choice in and of itself, not merely a lifestyle change after other vocations, and the compliance and academic bar has been raised.

“Students straight out of university have opportunities through all parts of the real estate business, often opting to do some work experience while studying so that when they graduate, they have a clear idea of where their strengths lie.

“Bayleys’ in-house training goes above and beyond the prescribed professional development the industry demands, with modules to fine-tune every part of the process to set new brokers up for success.

“The new generation of property professionals has a symbiotic relationship with the established brokers. Each can learn from the other and the new ones often find their groove handling day-to-day processes so the senior brokers can focus on deal-making, or by doing things that the older generation sometimes grapples with like leveraging technology across the business.”

Bayleys has also been a proud sponsor and supporter of the Keystone Trust for over 30 years, helping give students who would benefit from receiving financial, mentoring, networking and other assistance to get a tertiary education and set themselves up for a successful property or construction career.

The power of the team

Nick O’Styke is an industrial broker with Bayleys Christchurch and joined the firm in 2011 after three years at Lincoln University studying valuation. For the first four to five years at Bayleys, he was in a cadetship, then later a partnership, with senior agents Stewart White and Chris Frank, before launching out on his own.

Named Bayleys Overall National Commercial Salesperson of the Year for the financial year ending 2023, O’Styke consistently sits within the top five percent of Bayleys salespeople nationwide.

“The ability to create opportunities from scratch, build lasting friendships, and nurture loyal clients with the Bayleys brand behind me, has kept me in the industry.

“Bayleys has a high-performing nationwide network of agents and I know I can pick up the phone and talk to anyone in the company – including the Bayley family – and they’ll be happy to help and share their knowledge.”

O’Styke says the younger generation has speed and enthusiasm on their side in the demanding real estate environment, but wishes he had fully appreciated the benefits of using industry-specific customer management software earlier in his career to even better streamline systems.

“And never underestimate the power of the team you build around you. My business partner, Anna Morawiec is a key part of the team so we can be Altogether Better, as the Bayleys mantra goes.”

Celebrate success

Since commencing her commercial property career, Tiana Warren has held a number of roles with Bayleys and is now Head of Corporate & Occupier Services for Bayleys Property Services Auckland, leading a specialist occupier lease and facilities management team.

Warren says she had an early interest in property and loves the variety and challenges the sector offers.

“I’ve always had very supportive mentors and managers at Bayleys who have encouraged my development and career growth.

“I enjoy being part of a diverse industry where every day is different, with many career pathways and opportunities depending on your interests.

“It’s motivating to be surrounded by peers who are passionate about what they do and have a wealth of experience and knowledge to tap into.”

While earlier in her career Warren sometimes felt she had to work harder to prove herself as a young female in the broader property industry, results and tenacity are great levellers.

“I value being in a diverse team that works hard but also celebrates success – and has a lot of fun along the way.

“Regardless of age, building and maintaining relationships in this industry is crucial for success. It will unlock opportunities, support personal development and make your work life more enjoyable in general.

“Young professionals are more adaptable to emerging technologies and generally have a bigger appetite to challenge the status quo and to take risks.”

Income a by-product

Ethan Hourigan of Bayleys Wellington specialises in industrial sales and leasing in the Hutt Valley market. His father, Mark, is the managing director of Bayleys’ commercial operations in Wellington and Hourigan junior quips that he had no choice but to join the team straight out of high school – despite fleeting dreams of a motorsport career.

“I have grown up around the Bayleys brand and its people, so it was a natural progression. But there was no preferential treatment – I started at ground level and built up my knowledge and track record by observing and honing fundamental skills.

“Developing comprehensive market intel on what has sold or been leased in my patch and at what yields and rates, has helped clients feel confident in dealing with me and to know that I am on the ball.”

Hourigan says the income is a by-product of doing the job well. The challenge and thrill of pulling a deal together, of burning off the opposition, and working with clients that have become good friends over the years, are the best parts of the job.

“I’m very passionate about Bayleys and think that our support and resources such as marketing and professional development are unmatched within the industry.

“I strongly believe the younger generation has an advantage, especially in the current tough market, because clients are looking for an active, energetic broker willing to do the hard graft to bring them the right opportunity, or the right buyer.”

Opportunities for growth

Youna Lee is a graduate valuer in the Bayleys Valuations Limited Auckland team and says she changed her university study path to a Bachelor of Property after attending an engaging presentation on the real estate sector.

“I was so inspired that I obtained my salesperson licence and started working as a salesperson for another agency, where my interest in valuation grew.

“An opportunity arose in Bayleys’ valuation team and now I maintain a comprehensive database of lease and sale transactions. I’m currently learning how to write valuation reports and accompanying valuers on inspections to further develop my skills in the field.”

Lee says despite being the same age as many of her colleagues’ children when she was working as a salesperson, she has not encountered any credibility issues in the industry.

“People were often surprised that I had started in the industry so early, but young people have fresh energy and can often leverage digital tools and platforms more effectively, making processes more efficient and innovative.

“The best thing about the real estate industry is its dynamic nature, plus the continual opportunities for growth, learning, and career advancement and the connections made along the way.

“My team is always supportive, especially when I have questions, and my goal now is to learn more about the different property sectors and to keep up with the changing markets.”

Earn your stripes

Following an OE rite of passage, Ben Laing embarked on a Bachelor of Property at the University of Auckland in 2015. The following year, eager to get some work experience while studying, he met with now-CEO of Bayleys Real Estate Auckland, Lloyd Budd, was shown to a desk – and never left.

With a property degree and many hard yards under his belt, Laing is now a valued and high-achieving broker with the Auckland Central commercial leasing team.

“Like any job, you earn your stripes and people respect hard work more than anything.

“When I started, I mainly focused on smaller leases which helped build my confidence, but quickly realised that the principles of a deal are essentially the same across all leasing footprints.”

The people, the dynamic nature of real estate, the flexibility, and the fact that it’s up to him to make things happen motivate Laing.

“Younger people generally have fewer distractions and lower ‘overheads’ in their personal life so can focus on day-to-day work with no excuses for not turning up. Personally, this allowed me to comfortably give agency work a good go early in my career.

“I also think younger brokers can be more nimble with new technologies like ChatGPT which gives us an advantage in the market.”

Laing says a huge benefit of Bayleys being a private, family-led company is that decisions can be made quickly rather than at a global corporate level, and there’s a genuine camaraderie between colleagues and clients.

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