PHOTO: While the country is going through uncertain times, some industry stalwarts are staying positive. Photo: Stephen McKenzie. Photo: Stephen McKenzie
For many young real estate agents, coronavirus is the first major upheaval of the economy and day-to-day life they have experienced in their careers.
But a handful of industry stalwarts have lived through several uncertain economic times, including the 1987 stock market crash and the Australian recession of 1991.
Here, they shed some light on what they make of the current situation, how it compares to previous shocks to the industry and broader health of the country.
Ray White Surfers Paradise principal Andrew Bell: “The omens are really positive for real estate.”
Having joined the industry in 1972, Andrew Bell has experienced his fair share of economic shocks and has a cool-headed approach to the next few months ahead.
“I’ve been through credit crunches, credit crisis, three recessions, four stock market crashes,” he said. “We recover every time. It takes a bit of time but you dust yourself off and we go again.
“Something like this is not new to us or new to me. Every one of them is different … you don’t see them coming, even though they’re vastly different.”
He said the biggest difference between the Covid-19 circumstances and the past turbulences was the massive government response to help Australian people and businesses.
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