Through the lens of the media you often just see one side of finance, Wall Street traders and stock charts make up most of the images that grace your screens. At How To Money we know that there’s a lot more to finance than that, and there are countless individuals working across the industry in a huge variety of roles. 

Whether you’re looking to work in finance or just interested in what they do all day, this series focuses on people working in finance and their stories. Welcome to the Faces of Finance…

In this instalment of Faces of Finance, we interviewed Veronica Morgan from Good Deeds Property Buyers. We’d love your feedback and suggestions on who we should interview next! Get in touch by sending us an email.

Introducing Veronica Morgan from Good Deeds Property Buyers

Veronica Morgan is co-host of Foxtel’s Location Location Location Australia & Relocation Relocation Australia, principal of Good Deeds Property Buyers, co-founder of Home Buyer Academy, co-host of Your First Home Buyer Guide podcast & The Elephant in the Room property podcast and author of “Auction Ready: how to buy property at auction even though you’re scared sh!#less”. She is a Licensed Real Estate Agent, Buyers Agent and Qualified Investment Property Advisor. 

Where do you work and what is your role?

Firstly, as principal of Good Deeds, I lead a team of Sydney buyer’s agents who are dedicated to helping our clients buy their homes and investment properties without regrets. We also have an advisory arm where we consult with clients who want to make good property decisions – all around buying and selling: when, where, how much they should spend and what other experts they need to engage before taking action.

Secondly, as co-founder of Home Buyer Academy, I’m fulfilling a passion to help first home buyers get safely onto the property ladder. We’ve created an online education and mentoring program to ensure that people can follow the property buying process step by step. 

How did you get into finance?

Well, I’m not officially in “finance” as property is not deemed to be a financial product. However, I think that our regulators have this completely wrong. Residential property is by far the biggest asset class in this country and it is predominantly responsible for the financial situation (good, bad or otherwise) of millions of Australians. 

I originally got into the real estate industry back in 2000 after I had a stint owning a cafe that lost money. I needed to repay some debts and I decided that selling property would be a great pathway to making some money.

Along the way I realised that, yes, it could be a lucrative career for me, however it was really rewarding personally! I really had a knack for it – not just the bricks and mortar, but the “numbers” and the people side. Fast forward 7 years and I “jumped fence” to work for buyers rather than sellers, as I realised how woefully underrepresented they were (and still are).

What do you enjoy about working in the financial services industry?

When you help people buy a home that not only serves them well as shelter (and everything else that entails) but also performs as an investment – that’s incredibly powerful. And when they build good equity in that home and can afford to invest in quality real estate, they are really starting to lay solid foundations for their long term financial future.

I never forget the privilege it is to be entrusted with spending millions of dollars of my client’s hard earned (and mostly borrowed) money.

Being on the buyer’s side of the equation has been an excellent opportunity for me to hone my critical thinking skills. Through observation, research and experience, I’ve learnt how to identify quality assets, manage market conditions, deal with information asymmetry, negotiate…

All of these “super powers” I am then able to share with my clients, giving them insights that allow them to make more confident decisions.

I love the continuous learning journey I’m on and I love to share what I’ve learnt with clients so that they can benefit from my experience.

Do you see any downsides to working in this industry?

Sometimes the lack of ethics and old school tactics of many industry players can get me down. Real estate agents are the third least trusted profession in this country!

But it doesn’t take me long to rise above this and remember that consumers need people who give a s#!t!

What is the most common misconception you think others have about the industry?

That all sales agents are shysters and that all buyer’s agents have their client’s best interests at heart. There’s a percentage of sales agents who are ethical, long-term focused and transparent in their dealings. Of course I love dealing with this type of agent. They often face the challenge of being misunderstood and tarred with the same brush as the dodgy agents.

On the other hand, in recent years there has been a proliferation of new buyer’s agents and too many of them are inexperienced and have a transactional approach, which means their unwitting clients are often very poorly represented.

Another misconception is that real estate always goes up in value, or that property prices double every ten years. Sometimes they do, but in a significant number of cases, they don’t. A rising tide does not lift all ships, it’s disingenuous to say “safe as houses” when discussing investment risk. 

If you received $1000 extra to spend to ‘increase your happiness’ right now, what would you use it on?

A weekend away where I can see rolling hills and the coast!

What are your tips for young Australians considering a career in finance?

Do some soul searching and determine your personal values and set your own standards. Decide how you want to show up and what you won’t compromise on.

Find a mentor, and choose a contrarian who will challenge your preconceptions and get you really thinking and learning.

Think about what the future holds – not just for you, but for the industry as a whole, the wider community and the planet. Make a conscious choice to work towards a sustainable career and aim to remain relevant through inevitable change and evolution.

In 2022, I’m on a mission to lead the conversation about #TruthTransparencyTrust in the real estate industry. Property decisions can make or break Australians financially (and emotionally!) so it’s critical that buyers and sellers can access sound, unbiased advice when they need it.

It’s my vision that the industry professionals who give a s#!t can stand up and be counted and that the consumers who need their guidance will be able to find them when needed.

Check out my series of rant videos and join in the conversation.

Click here to learn more about Veronica!