Another national top honour! A source of pride for Chinese New Zealanders! This year, this Chinese achiever deserves to be remembered…



Many Chinese agents stood out at Barfoot & Thompson’s annual awards ceremony. Their combined efforts have helped the company write a remarkable chapter in real estate. This was more than a moment of glory for them: it also reflected the tireless determination of Chinese people working hard overseas.

 

Real estate veteran Eddie Zhao’s moment of glory

 

Everyone working to build a life overseas has their own story of struggle. Eddie Zhao is no exception. 

 

At Barfoot & Thompson’s 2021 annual awards ceremony this year, Eddie led his team to the company’s national top sales team honour (No. 1 Sales Team), while personally winning the prestigious Residential Salesperson of the Year award.

Asked how he felt about these honours, Eddie was remarkably matter-of-fact:

In his 18 years as an agent with Barfoot & Thompson, he has received company honours 17 times. These include winning Residential Salesperson of the Year 5 times and securing a place among the company’s top ten sales teams for 4 consecutive years. He is also among the few Chinese agents inducted into Barfoot & Thompson’s Hall of Fame. Throughout his career in this industry of opportunities and challenges, Eddie’s professionalism, dedication and trustworthiness have earned him awards and recognition from his company, the market and every client.

 

Behind these honours lie extraordinary effort and hard work.


 

A newcomer who refused to give up

 

‘Countless brilliant pearls are scattered across the vast Pacific Ocean, and Palau is one of them…’ This is a memorable line spoken by actor Ge You while planning an emigration route in the film After Separation, released 22 years ago. The film reflected China’s emigration boom in the 90s. Eddie, now approaching forty, was among those who ventured overseas in the late 90s.

In 1999, Eddie left Jiangsu for New Zealand, joining the wave of people heading overseas. After completing business studies at Massey University in Auckland, he joined the Tony Tay Group, then one of Auckland’s largest property developers, in 2002, working in residential sales. Just over a year later, he moved to Barfoot & Thompson’s West Harbour branch, building a career in the industry spanning 18 years. Whatever the role, working in an unfamiliar country means embarking on a journey into the unknown. Eddie recalled:

‘When I first entered the industry, I started from scratch. Real estate is particularly challenging for newcomers, more so than many other industries. When you first join a company, clients have almost no trust in you, you have no client base, and you have to find every listing yourself. There were times when I went a fortnight or even a month without making a sale, and that could be deeply discouraging.’

 

Yet his motto is: ‘With perseverance, even metal and stone can be carved.’ Eddie approaches his work with the enthusiasm of a ‘first love’. Long hours are routine; he pursues every potential listing and takes every client question seriously. Within just a few years, his sincerity and dedication gradually won clients’ recognition and established a strong reputation in the industry.

Building a reputation through sincerity

 

For Eddie, continued career progress depends on three essential factors. First, maintain enthusiasm for your work. Second, a successful salesperson must know how to promote themselves. Third, there are no shortcuts in any industry: a practical approach and a willingness to work hard are the keys to success.

In Eddie’s view, ‘The most important quality for success in our industry is sincerity. How you do business reflects who you are. Having buyers trust and value you is the best reward we can receive.’

 

‘Before a property goes on the market, I offer clients plenty of honest advice about current market conditions and nearby sale prices. I also need to understand the prices buyers and sellers have in mind. When selling a home, I strive to achieve the most satisfactory result for my client. Over time, word-of-mouth referrals grew, and I gradually gained more listings. At my busiest, I would often sell several properties in a day.’

 

As an industry veteran with 18 years’ experience, his message to newcomers is that starting out is difficult in any industry, but perseverance brings rewards. Clients may not trust you at first. However, if you truly understand their needs, work from those needs and earn their recognition through sincerity, your relationships will improve, along with your chances of completing a sale.

Eddie also attributes his success to his willingness to work hard and endure difficulties. New agents seeking similar results need to strengthen their determination at work and learn to handle hardship before taking on greater challenges.

Talent finds someone who recognises it

 

Eddie sees Barfoot & Thompson as a very approachable company, where managers and staff get along well and everyone takes a practical approach to work. As a long-established real estate company, it has built a diverse sales team and an open corporate culture. Every employee is respected, and its management approach, which treats people equally regardless of ethnicity, and fair competition have won staff approval. Eddie reflected: 

‘The company’s support has been essential to my development. As a long-serving employee, I am very grateful to Barfoot & Thompson for providing such a substantial platform for continued growth. For new agents, the company’s greatest help is that every listing can be accessed internally from the moment they join. Sharing these resources helps newcomers get started quickly and develop rapidly within a large organisation.’ 

‘From starting out as a newcomer to becoming a long-serving employee who has now spent 18 years with this team, I have witnessed the company’s growth. It has also given us Chinese staff a sense of belonging in a foreign country,’ Eddie said.


 

Views on the current market

‘When I first arrived in the late 90s, homes in New Zealand cost around NZ$100,000–200,000. With inflation, Auckland house prices have now soared. As real estate agents, we have witnessed the changes in New Zealand’s housing market in recent years.’ This veteran agent, with 18 years in the industry, has his own insights into the New Zealand property market.


YIJU: As a property professional, how do you see this year’s housing market?

Eddie：So far, the new regulatory policies have not had the intended cooling effect on the housing market. Investors and owner-occupiers remain active, and our listings are in strong demand, particularly properties on large sections. The Government’s policies this year support new housing construction, making large-section properties especially popular and generating strong development demand.

Housing supply will remain tight in the second half of the year, with prices trending steadily upwards. 

YIJU: What is your outlook for next year’s housing market, and how long do you think low interest rates will last?

Eddie：Personally, I believe house prices will continue rising next year. Severe shortages of raw materials are driving up construction costs, with building materials particularly scarce this year. Most of the many homes now being built will start coming onto the market at the end of the year or early next year. Once they do, rising prices and raw material costs will push house prices higher still.

People often complain about high house prices, but these are linked to inflation and rising raw material costs. For example, most New Zealand homes are built with timber, and construction is very expensive. This year’s timber shortage means every new house now costs more to build than before. 

The pandemic continues to affect the global economy, and countries are still imposing border restrictions. Until the pandemic is completely over, low interest rates will persist for quite some time. Our interest rates follow those of the United States.

YIJU: Could you suggest some areas in West Auckland suitable for investors and buyers needing a home to live in?

Eddie：Although the property market is currently hot, choosing the right location is crucial. Not every Auckland property will make money simply because you buy it; a small number appreciate very slowly. In West Auckland, I personally favour Westgate and Hobsonville for investors and buyers needing a home. Both are undergoing substantial development under the Government’s Unitary Plan, and surrounding amenities will become increasingly established. Whether buying to live in or invest, the four golden rules remain location, schools, transport and amenities.

 

For sellers and buyers: tips 

Sellers

• Choosing a good agent is very important for sellers. The agent needs to be reliable, offer sound advice and help you achieve the best possible price.
• Once sellers and agents choose to work together, they must trust each other. Communication and feedback are also important. It is a collaborative process, rather like rowing a boat together: everyone must work together to achieve the desired result.


Buyers

• Given the current conditions, house prices will keep rising, so buying sooner will naturally offer buyers better value.
• Always read the contract yourself when buying a home, rather than relying entirely on your lawyer. Many Kiwi buyers here depend heavily on their lawyers and barely read the contract. As a buyer, you need both a professional lawyer and your own scrutiny of the agreement. Only by truly understanding the contract can you fully understand the home you are buying.
• New investors and buyers unfamiliar with the housing market should regularly attend open homes. Only after viewing enough properties can you make a clear judgement about the condition and price of the home you intend to buy.
• Before buying, be very clear about the price you are comfortable paying. At auction, remain rational and keep within what you can afford to avoid financial difficulties.

 

 

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