23 Oct 2023
Words Miguel Bozina Informer 108

Riding the wave

Since joining ResortBrokers at the end of last year, our Gold Coast and Northern Rivers NSW broker Miguel Bozina has been on a winning streak. We let him catch his breath for this interview.

How long did it take you to get your buyer network going? 

Not long, but I feel that’s less to do with me and more to do with two key factors: the region I serve, and ResortBrokers’ stellar reputation. The 200 km stretch from the Gold Coast down to Yamba is where everyone wants to be. I have no shortage of buyers. They’re ringing me every day asking, ‘What have you got?’ ‘What’s coming up?’ Outside of Melbourne and Sydney, some of the biggest capital gains in the country have been in this area over the last five years. Combine that with the relaxed beach lifestyle and you’ve got a winning combination.

The second factor is ResortBrokers’ reputation. It’s not just that we’ve been here the longest and that we’re the biggest and best in our field. It’s more about that we’re trusted. It is made clear to us by the directors from day one, that there’s only one way to do business if you want to be successful at it for as long as ResortBrokers has been, and that’s being honest and transparent with your clients, both vendors and buyers. We’re very proud of the reputation we have in the market for that. 

I suppose a third thing could be that I really enjoy doing this. I’m well past the honeymoon now and I really enjoy getting up every day doing what I’m doing.

Before ResortBrokers you worked in sales and finance for almost 30 years. What’s the main difference between accommodation property sales and other sales?

With most other sales, you might just wait for buyers to come through the door. The accommodation property business is far more active. It’s about getting out there, meeting real people, hearing their stories and building genuine relationships.

It doesn’t matter what product you’re selling, it’s always about the relationships you build. I’ve always tried to apply the age-old wisdom of having “two ears and one mouth”.

Listen, really listen, to what your clients are trying to achieve and where they want to be. Then support and guide them to get somewhere that they may not know how to get to themselves.

What sales are you most pleased with so far? 

All of them to be honest because I love when I can make things happen for vendors and buyers. But two stand out. The first was Murwillumbah Motor Inn. I had more enquiries with that listing than any other I’ve had, and I am still getting them. It wasn’t necessarily because the location was Murwillumbah. It was because it was a wellpriced leasehold near the beaches of the Northern Rivers and had a lot of new infrastructure happening in the area.

The other was Ballina Colonial Motel. We ran a great campaign, and it was like a feeding frenzy as soon as the property hit the market. I was having to manage a tight schedule with inspections that prospective buyers wantedto do at the last minute. I was needing to schedule people around inspections that were already booked, which wasn’t a simple task with some buyers needing to secure flights and accommodation. 

We received so much serious interest on that listing, resulting in $250,000 above what we originally listed the property for, which was well above the vendor’s expectations, but the buyers were quite astute and realised the opportunity this property offered them and their business and were not going to miss it. The property had been on market for only three days before we got it under offer. Like Murwillumbah, I still have several investors that missed that property calling me.

Are buyers more interested in Queensland or NSW?

There’s strong interest in Queensland, no question. But the Northern Rivers is what most buyers ask me about. People from Sydney, Melbourne and even overseas often say they want to be at the top end of NSW mainly for the lifestyle and beaches. I ask them if they’d consider the Gold Coast. Most will, but some people just want to be in the Northern Rivers and near Byron Bay.

The Northern Rivers is where they really want to be. That said, of all my sold, settled and agreed listings in both regions not one has lasted more than four days on the market before going under offer. Some don’t even get to market because I already have a list of qualified buyers lined up. That’s just how popular this region is.

What’s the most important thing you’ve learned about the accommodation property market?

It was a steep learning curve learning about yields. Yields are a great guide, and vital in conversations with vendors and buyers. But they do vary region to region. The more desirable an area is, the tighter the yield and higher the price you can expect.

One thing I did find transferrable from my previous industry was financial statements. Talking every day with business directors and accountants, I quickly learned how to navigate a P&L and know what makes a business tick. That side of things is very transferrable. I’m more than comfortable sitting down with vendors, having them pull out their financial statements and getting straight into the nuts and bolts of their business.

How important is it to be a local when serving your clients?

Well, while was born up the road in Brisbane, I moved as a child from Darwin to Adelaide and even to California. But I’m a local at heart. For many years I had a home in a little beach place called New Brighton, near Brunswick Heads in the Northern Rivers and loved living there. I’ve lived and worked in this area for over 25 years now and my kids were born here on the coast, where we live now. I know having that intimate knowledge of the Gold Coast and Northern Rivers is extremely valuable.

Plus, I genuinely believe it’s the best place to live in Australia, so it’s easy to communicate that to a buyer that may be from somewhere else.

Do NSW buyers ever give you stick about being a Queenslander?

[Laughs] Only for those important few weeks in the middle of the year when State of Origin is on! At that time of year for transparency, I do advise my clients, ‘I have to tell you I’m a proud Maroon!’ But I don’t think it’s lost me any sales. END

Miguel Bozina, Broker
0419 848 444
miguel@resortbrokers.com.au