{"id":20598,"date":"2018-03-20T01:00:11","date_gmt":"2018-03-19T14:00:11","guid":{"rendered":"https:\/\/www.realestatetalk.com.au\/?p=20598"},"modified":"2018-03-20T01:00:11","modified_gmt":"2018-03-19T14:00:11","slug":"the-making-of-a-great-buyers-agent-cate-bakos","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/the-making-of-a-great-buyers-agent-cate-bakos\/","title":{"rendered":"The making of a great buyers agent \u2013 Cate Bakos"},"content":{"rendered":"

We will be joined in the show today by a buyer\u2019s agent who has just been crowned as Your Investment Property<\/em>\u2019s<\/strong> number one buyer\u2019s agent in the country.\u00a0 Cate Bakos<\/strong> from Melbourne talks to us about her all woman team and how she got her start in property.
\nTranscript:<\/strong>
\nKevin:<\/strong>\u00a0 Here it is. We are, in fact, talking to Australia\u2019s number one buyer\u2019s agent who has just been crowned as\u00a0Your Investment Property<\/em>\u2019s number one buyer\u2019s agent in the country, Cate Bakos from Melbourne.
\nHello, Cate. Nice to be talking to you, and congratulations.
\nCate:<\/strong>\u00a0 Thank you. It means a lot. You can tell I\u2019m still in shock, somewhat.
\nKevin:<\/strong>\u00a0 Good on you. It was only last week that we had you in our sister program, Real Estate Uncut, talking to real estate agents all around Australia and New Zealand about what you do as a buyer\u2019s agent, so well done, Cate.
\nCate:<\/strong>\u00a0 Thank you. It was good to share some commonality.
\nKevin:<\/strong>\u00a0 It was, indeed. I notice that you say that you don\u2019t consider yourself as a buyer\u2019s advocate; instead, you\u2019re an agent for change with a mission to solve problems to help people. The role of the buyer\u2019s agent is becoming a lot more important, isn\u2019t it, Cate?
\nCate:<\/strong>\u00a0 It is, it\u2019s getting more recognition, but I think it\u2019s also very important because we\u2019ve had some enormously challenging times over the last few years in our seller\u2019s market regions and it\u2019s really come to the fore for a lot of people who needed that extra help.
\nKevin:<\/strong>\u00a0 Of course, you established your own business, Cate Bakos Property, and you\u2019re now pushing the envelope in terms of its success. Last year, very successful.
\nCate:<\/strong>\u00a0 Thank you. We certainly worked hard. And one thing I really need to say upfront is that there is no way I could do this on my own; I have an incredible team of people behind me. I work with three full-time women who just make every day a joy. They manage me most of the time, so I feel very, very fortunate that I have such a great work team.
\nKevin:<\/strong>\u00a0 Interesting that they\u2019re all women. I don\u2019t know whether that\u2019s been a deliberate focus for you, but it\u2019s something that\u2019s fascinated me for quite a while, and that is whether women are much more intuitive. Do they click into the conversation about what a buyer needs more so than men? I know that\u2019s a generalization, Cate.
\nCate:<\/strong>\u00a0 I think not necessarily. To answer the first question, I didn\u2019t design it. I didn\u2019t engineer a team of all women deliberately. We\u2019ve all kind of fallen together, and interestingly, everyone who works with me hasn\u2019t come through the normal HR channels. They\u2019ve found their way to me through the community or Facebook or been a past client, or whatever it might be. I feel very fortunate in that regard, because applying HR principles and going through all of the interviewing is not something that I\u2019ve been trained to do. We\u2019ve all just found each other.
\nI think women are very intuitive. We all multi-task. Our office is just crazy, with files and phone calls and all of us chatting to each other all the time. It\u2019s a lot of fun. It\u2019s obviously high stakes, but it can be very high energy and lots of high stress, and they just deal with it so well.
\nKevin:<\/strong>\u00a0 In the article, too, in\u00a0Your Investment Property Magazine<\/em>\u00a0where they\u2019re acknowledging your success, they say that before getting into property, you studied chemistry. That\u2019s quite a switch.
\nCate:<\/strong>\u00a0 Yes, it was a switch. I don\u2019t think I was a very good chemist, to be honest, Kevin. I didn\u2019t love it, I didn\u2019t have the passion for it, and it\u2019s a very lonely role if you\u2019re doing the kind of chemistry that I was, which was air-sensitive. So, you\u2019re not hanging out with people and talking to lots of people; in fact, you\u2019re working away from people because in a sense, it kind of explosive. If you make a mistake, it will blow up.
\nKevin:<\/strong>\u00a0 Why property? Why did you choose property?
\nCate:<\/strong>\u00a0 I was always interested in property. I started off as an investor or a homeowner at a pretty young age. I was 21 when I got my first deposit together and bought a property. I found all of it hugely rewarding but really exciting.
\nI remember in my honors year, instead of doing my experiments and writing up my thesis, I was spending a lot more time researching auction clearance rates and trends and suburbs to keep an eye on. I probably should have just listened to my own heart, but you do what you think you should do when you\u2019re that age and you try and finish your degree and make your parents proud, and I guess that\u2019s what happened.
\nBut I certainly lean on the analysis that I was able to utilize during that time, and I apply it now.
\nKevin:<\/strong>\u00a0 You chose to open your own business, Cate Bakos Property, that we\u2019ve already mentioned. You would have, obviously, had the opportunity to join other buyer\u2019s agency business but you elected to open your own office. Why was that?
\nCate:<\/strong>\u00a0 I was working for another firm for four years prior to that. And they were great; I grew some wings and went my own way. But I learned a lot and I had some fabulous people around me then. There was no point in leaving a great organization to leave another organization, so if I was doing this, I was doing it for myself.
\nIt was a real challenge and it was obviously a little bit scary and exciting all wrapped up together, but I knew I could do it.
\nKevin:<\/strong>\u00a0 I\u2019ve interviewed you on a number of occasions for both of our shows, Real Estate Talk and Real Estate Uncut, and I\u2019ve followed your career. I remember those early days of you sticking your toe in the water and opening your own business. Was that a scary experience for you, Cate, or were you full of confidence that it was going to work?
\nCate:<\/strong>\u00a0 A bit of both. It\u2019s always scary. I remember signing up for a photocopier, this big unit, and Xerox said to me, \u201cIf you\u2019re signing this equipment lease sheet, essentially, you\u2019re responsible for this.\u201d I said, \u201cWe\u2019ve negotiated our monthly repayments. What am I actually signing? Talk me through it.\u201d
\nThey said, \u201cIf you want to break your agreement, you\u2019ll owe us $11,000,\u201d and I remember thinking \u201cOh my gosh, I\u2019m really doing this. I\u2019m signing a lease for a business, I\u2019m getting equipment. I have to do this.\u201d
\nI knew I could, but of course, it\u2019s scary. You pull all your collateral together and get ready to serve clients, and then you open your door on day one and it\u2019s petrifying and exhilarating all at the same time.
\nKevin:<\/strong>\u00a0 That moment when you put the key in the door for the first time and you know you\u2019re actually opening your business to the public \u2013 and I\u2019ve spoken to many people who have opened businesses \u2013 that is a very, very exciting and thrilling time, isn\u2019t it?
\nCate:<\/strong>\u00a0 It is. It certainly is. I remember starting as small as I could and biting off as little as I could in terms of expenses, just to make sure that I could focus on everything and start small and get it exactly where I wanted it. I\u2019m still boutique to this day and I don\u2019t have any aspirations to be a massive, big business. But I remember those days when it took a lot of guts, but it was also a really exciting challenge, and I was ready for it.
\nKevin:<\/strong>\u00a0 In your own words, you say you don\u2019t want a very big business; you have a very successful business and you also play a very important role an industry level working with other great buyer\u2019s agents in the REBAA organization, the Real Estate Buyer\u2019s Agents of Australia. That\u2019s a key role for you, isn\u2019t it? It gives you the opportunity to influence the industry a bit.
\nCate:<\/strong>\u00a0 Yes, it\u2019s a really important role, and it was an honor to get that position. Probably the most exciting thing for me is that I\u2019m working with and rubbing shoulders with amazing people across the country. We talk, we get together each year for our conference, but we stay in touch as well. We see each other, we ask quite a few questions.
\nI really value the friendships and connections that I\u2019ve got through REBAA and I love that we\u2019re standing for something strong and looking after the interest of the buyers, and we have a really strict code of conduct.
\nI\u2019ve certainly experienced a lot of personal growth by taking on the role and there\u2019s a lot more to come, but most importantly, I really admire the people I work with.
\nKevin:<\/strong>\u00a0 I believe you also have a policy where you assist at least one gratis client per quarter, someone who is identified as really needing the care of a buyer\u2019s agent. It\u2019s a wonderful thing to give back like that, but has that been a great learning experience for you as well, Cate?
\nCate:<\/strong>\u00a0 Not so much a learning experience; it\u2019s just a really special experience. They\u2019re like no others because they\u2019re the people who really need you and for whatever reason, can\u2019t afford you. I think if everyone could have access to a buyer\u2019s agent, what a great world that would be, but that\u2019s not the reality.
\nIt\u2019s a huge investment of our time and resources, but it does feel very special. And it lets my staff get involved in helping someone who really appreciates it, and it makes an enormous difference to that individual or that family\u2019s life when we can do that, so I have no intention of changing that policy.
\nKevin:<\/strong>\u00a0 Congratulations, Cate. It\u2019s a pleasure to talk to you and especially a pleasure for us to be able to congratulate you on taking out\u00a0Your Investment Property<\/em>\u2019s number one buyer\u2019s agent award for this year.
\nCongratulations, Cate, and I look forward to talking to you again in the near future.
\nCate:<\/strong>\u00a0 Thanks, Kevin. It means a lot.<\/p>\n","protected":false},"excerpt":{"rendered":"

We will be joined in the show today by a buyer\u2019s agent who has just been crowned as Your Investment Property\u2019s number one buyer\u2019s agent in the country.\u00a0 Cate Bakos from Melbourne talks to us about her all woman team and how she got her…<\/p>\n","protected":false},"author":176692471,"featured_media":20599,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32,33,10,11,13,36,25],"tags":[101],"class_list":["post-20598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-a-property-topic","category-case-studies-topic","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-property-investment-topic","category-sponsored-channels","tag-podcast"],"yoast_head":"\nThe making of a great buyers agent \u2013 Cate Bakos - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/the-making-of-a-great-buyers-agent-cate-bakos\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The making of a great buyers agent \u2013 Cate Bakos - 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