Eddie Zhao is one of the busiest people in Auckland real estate. The West Harbour-based Barfoot & Thompson agent had at the time of writing 106 listings, and had sold and/or marketed 243 properties in the last two years. In 20 years in the job, he’s sold over $1.6 billion worth of real estate. Yet he thinks he could do better.
Q: What did you do before real estate?
I was a student. I had gone to college in China to do electrical engineering but after about a year and a half of that, I came to New Zealand. My sister moved here and she loved it, and she wanted the rest of the family to come. So I came and my parents did too. I only spoke limited English so I had to learn the language. I am still learning every day – it’s a very hard; the vocabulary is massive.
I continued with my tertiary education once I got here. Information technology was the most popular subject at the time so I went to Massey University to study IT.
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Q: Did you have a plan for what to do after uni?
No, I was still young and I didn’t really know what I wanted to do for my career. I just knew I wanted to be independent and to be able to survive, to pay my bills and to feed myself. I applied for lots of different jobs, including the police. I got through to the final stage but they had just brought in experienced constables from the UK so they put me on a waiting list. They did come back later to see if I was still interested but by then I had started in real estate.
Q: How did you get into real estate?
I started out working for a development company, selling their apartments. I got the job through an introduction from a friend who worked for them. It was very competitive, and I learned a lot. We were selling off plan, which was hard but I was doing quite well. After about a year and a half I decided to change to working for a real estate company. I knew people who had done well financially with Barfoot & Thompson, and I was hungry for that. It was different to what I was used to, which selling property for just one vendor, the developer, but in my new job I was acting for lots of vendors. Barfoot & Thompson was a very good company to work for, a humble company, and for me it was a good career move, no doubt about it.
Q: What do you enjoy about the job?
I like the fact that every day is different. You do have a daily routine, but new things happen each day and you don’t always know what is ahead. I also like meeting people, and being able to get good results for them. I enjoy seeing when they are happy.
Zhao says he’s always looking for ways to improve himself. Photo / Fiona Goodall
I sell a lot of different properties – a little bit of commercial, quite a few rural, lot of houses and apartments and investment properties. I also sell some beautiful luxurious homes. I like the variety.
I am very glad I got into real estate; I have no complaints. After 20 years I still have a passion for it. Otherwise, I would have been long gone.
Q: What’s the secret to your success?
You have to be willing to help and to show initiative. And you have to be willing to keep learning as many skills as you can. I think my best skill is being able to find the best price.
Also, I am very persistent, I do not give up. One property I had took over a year to sell. I negotiated for a very long time. I got it sold in the end and never gave up. I work hard, often I start at 8am and don’t finish in the office until 8pm. But I try to be relaxed – if you are nervous and tense you can get things wrong. When you are relaxed you get things done.
And I am always available, so that means a lot of hours spent working.
Q: What advice would you give to anyone thinking of becoming a real estate sales person?
The best thing to do is get your head down and get the job done. You have to have a willingness to do the work that is needed. I also think it is important to market yourself so people know who you are, but you have to make sure you deliver on what you promise them. You have to be confident but also responsible – if you overpromise that will backfire on you.
Q: Do you have any time outside of real estate for hobbies or interests?
My hobby seems to be spending time on my cell phone – I am on it far too much! I do like to do some activities. I haven’t been to the gym since the pandemic started but I do try to play indoor soccer every week. I have been doing that for about 10 or 15 years and it’s good fun - it’s the best day of the week.
Q: Has real estate changed your life?
Definitely. I could have done something else and I might not have done so well. When I started out, I would never have thought I would have sold over $1.6b worth of property. I think I am on the right path but even after 20 years, I still feel like I have more to learn. I still feel like I am not good enough yet but I have a lot of potential and I will get better. But so far, so good!
