Before the onset of COVID-19 in January 2020, Sydney agent Sanjeev Kumar transitioned from agent to business owner. As he and his team celebrate three years in the business, he spoke to REB about how he cast aside all doubt to run his own business.
Having grown up in Sydney’s north-west suburb of Schofields, Kumar – director and licensee at LJ Hooker Schofields – had extensive local knowledge of his property market. This, coupled with his passion for property has been instrumental in his success as a real estate agent.
After working in a sales office at the Ponds for around four years, Kumar was determined to realise his ambitions of becoming a business owner, but not before overcoming self-doubt.
“I always aspired to be a business owner,” Kumar said in an episode of the REB Business Empowerment Showcase.
“But at a certain point during the grind, I put that dream on hold. I was thinking, ‘Can I really do it?’ I lost that little bit of belief.”
However, a conversation with a member of the LJ Hooker corporate team injected Kumar with the confidence to take the plunge. He joined the agency’s network as a franchise owner in January 2020, just weeks before the onset of the COVID-19 pandemic.
“I didn’t know the COVID pandemic was coming,” Kumar mused.
While he was already an accomplished listings and sales agent, Kumar learnt quickly that operating a business required a different skill set. Undeterred, he buckled down and acquired these skills in a short period of time.
“I had to learn fast about team culture, and the challenges that come with [being a business owner],” he recalled.
Kumar oversees a dedicated team of four in his business, who together consistently rank in the top 5 per cent of the network’s high-performing offices. He has sold 61 properties in the last 12 months, with an average sale price of $1.1 million, taking his total sales value over the period to $64.4 million.
Kumar credited the LJ Hooker network for supporting him through his transition to a business owner by offering training and networking events.
For example, the agency provides access to Lighthouse, a platform that allows agents to book one-on-one sessions with coaches and members of the corporate team to build their skills as a principal, learn about team culture, and how to recruit top talent and grow agents in the business.
“Sometimes, you’re having a chat with one of the instructors and then you start talking about mindset, which I find is really underrated in the real estate industry,” Kumar highlighted.
“It’s such a big part, having that extra advantage over your competition. That helps me win a bit more business and leverage that brand.”
Alongside this, Kumar attended a conference called Grow for Profit hosted by LJ Hooker, where he met other principals, and a study tour to top-performing LJ Hooker offices throughout Queensland, which he said offered ample learning opportunities around being a business owner”.
Furthermore, Kumar and his team visited LJ Hooker Padstow to build their skills as an auction agent, he said.
“They run really successful in-room auctions. I saw these guys sell five to six properties on a Wednesday. Not on a Sunday,” he exclaimed.
“That’s just a really great culture to be a part of. I think that also helps with leads. I’ve had a customer who purchased a home off LJ Hooker 20 years ago. I won the resale at Schofields.”
His strong track record led to a persistent client insisting that he manage a rental, spurring Kumar to establish a property management and rental division in his agency. Kumar and his team manage over 270 rentals, and are aiming to reach 300 by February 2025.
As he and his team outgrow their office, Kumar also aspires to open another office in the near future.
“[I also want to] see my team grow professionally and personally. My view is I’ve been able to rise up to number one in Riverstone, top market share, top agency there. I want to see our agents do the same,” he concluded.
To listen to the full episode of the REB Business Empowerment Showcase with Sanjeev Kumar, click here.
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