Thought Leaders – Real Estate Re-imagined (formerly The Elevate Podcast) 50 years in real estate: Philip Webb on real estate over the decades, building a rent roll and his legacy
After 50 years in real estate, Philip Webb officially sold his Doncaster-based business in December, closing the door on a career that saw the profession grow from humble beginnings into the thriving industry it is today.
His distinguished career was a far cry from the green, inexperienced teenager who left school in 1970 and started in real estate the very next day, before going on to become one of Melbourne’s most revered and respected agents.
In this episode of the Elevate podcast with Elite Agent Managing Editor Samantha McLean, Philip shares how and why he started selling property and how he was able to grow Philip Webb Real Estate to become one of the highest-performing in Melbourne with a rent roll of more than 5500 properties.
Philip reveals how the life of a real estate agent changed over the course of five decades and how a medical condition, which left him paralysed for three years, was the catalyst for him starting that rent roll.
He also shares his thoughts on what needs to happen to fix the current rental crisis, why he ultimately decided to step away from the industry after a lifetime of work and what he hopes his legacy might be.
“As an agent, the ones that are doing best in the area are always the agents that are flexible and adaptable and that have a go. It’s not the smartest or the most intelligent that survives. It’s those that are the most adaptable that can adapt to a market.” – Philip Webb
Samantha and Philip also discuss:
1:55 – How real estate has evolved over the years and how Philip got his start in the business.
4:59 – What Doncaster was like back in the 1970s and how it’s changed to what we see today.
7:55 – How being paralysed for three years made Philip realise he had to change his business model and the one thing he suggests agents do right away.
11:30 – Dealing with high interest rates and what you have to do to survive during a tough real estate market.
15:20 – How to build a 5500-property rent roll and the key things you need to do to succeed in property management.
17:37 – Why Philip ultimately sold his business and the one key asset that set him up for retirement.
19:55 – What needs to be done to fix the current rental crisis and the mistakes our governments are making.
26:03 – What Philip hopes to be remembered for and the one thing he wished he did differently.