2021 was another extraordinary year for Australians, dominated once again by COVID-19. For the team at KR Peters, the year was one of challenge and triumph as sales surged beyond all expectation, resulting in the company's best financial year on record. KR Peters director Peter Nicolls reflects on the highs and lows of 2021.



Q - How did you find 2021, especially being in lockdown for more than 3 months?



2021 was our best year ever financially. We sold in excess of 700 properties, more than two properties every day! At the beginning of the year we anticipated solid sales, however there was an underlying fear that the COVID lockdown may have an adverse affect on property sales and values.



The introduction of the HomeBuilder Grant stimulated the property market beyond all expectations. People being kept at home by the strict lockdown requirements discovered a passion and love affair with buying property. The home became their castle. Whether they renovated, upsized or sought a lifestyle change, they became consumed, even obsessed, with buying or selling.



The lockdown did not affect me in a business sense. We quickly adapted to Zoom meetings to communicate with buyers and sellers. Contracts were executed via Docusign. Staff communicated via the Slack app and we wrote business like there was no tomorrow.



On a personal note, having been a regular gym user, I found it hard keeping motivated to exercise. When the Premier announced in October that personal training was permitted in parks or outdoors it was the best news for me.



By the end of the year it felt like the year had been a long race. We hit the finishing post tired and a little worn out.



Q - After a long career in real estate spanning almost half a century, which sale has been your favourite.



I would have to say 4 Rowena Rise, Wantirna South. The owner was a former real estate agent who had operated in the Knox area. They were looking to downsize and still stay in the Knox area. They had owned the home for 43 years and were keen to buy and sell hassle free.



After listing the home we immediately erected (with the owners' permission) a directional sign on the corner of Mowbray and Rowena drives. Within 15 minutes buyers were calling and making offers to buy without even inspecting the home.



The property was listed to be auctioned at 10am. We had a property being auctioned on the same day at 1pm which our vendors had inspected and were keen to buy.



We auctioned and sold their home at 10am and at 1 pm they successfully bid and purchased the property we had shown them. They had become vendor and buyer in one day. We received a fantastic review from them and they are now referring their friends.



Q - What was your favourite auction?



Definitely 14 June Court, Bayswater. We conducted the auction during one of Victoria's strictest lockdowns. We had 9 registered bidders, and of course it all had to be conducted online using Anywhere Auctions and Zoom and telephones.



Our vendors were as nervous as anything. They had lived at the home for close to 40 years and were downsizing. They took our advice and put the house on the market when we were close to the reserve price. This kept the bidding momentum going and we eventually sold the home above the reserve. This was the first auction I had conducted 100 % virtually. It gave me a lot of confidence and the belief that we did not need bidders in attendance to run a successful auction.



Q - What was your hardest sale?



I'd say 12 Oakwood Close, Officer. It was listed by me and eventually sold by one of our agents. It had been on the market with another agent for more than two years. It was the original homestead in the Heritage Hill Estate. It had been heritage listed and council had slapped a lot of onerous conditions on the permit. It needed a full renovation and people were afraid of the exact cost that would need to be spent to repair it.



Q - Looking ahead to 2022, what excites you?



The new products that we will be using to make KRP more competitive and leaders in real estate. We have strong relationships with Corelogic and Zenu. They are innovative companies with new products and advanced technology. We will integrate their latest products into our business. We understand the importance of continuous improvement and to implement best practices into everything we do.



Our team culture and caring for each other is of vital importance. We are not a revolving door with staff and are looking forward to watching all the team grow to another level. We are keen to see the young and the old learn new tricks.



We are looking forward to listing and selling more properties and honouring our vision and mission statements.



Q - What are your predictions for 2022?



The property market will not see double digit growth. It will increase maybe 4 -5 %. Governments will continue with incentives like Victoria's HomesVic Shared Equity Initiative, whereby the government takes a 25% stake in the property.



More vendors will list their homes for sale. With state and federal elections to be held this year the heat will come out of the market as people re-evaluate what is important to them.



Q -What will you do differently in 2022?



Not a lot as financially 2021 was a standout. I will try to work harder on maintaining more balance in all areas of life. I have re-written my goals for 2022 and am keen to work more on the physical, spiritual and mental areas of my life. I also plan on spending more time with family now that lockdowns have ceased and host more staff lunches to applaud our triumphs.