Dominic Longcroft: The Sydney real estate agent with NYC and Switzerland prestige market credentials
From the ski resorts of the Swiss Alps to the bright lights of the Big Apple, Dominic Longcroft has made a name for himself as an expert in luxury property. Now, he’s setting his sights on the Sydney prestige market as a sales executive at Ken Jacobs Christie’s International.
You’re a relative newcomer to the Sydney real estate scene. When did you arrive and how has this strange year played out for you so far?
I moved to Sydney at the start of this year. My wife started a new role here as a director at Google. It hasn’t been easy to build a customer base and get listings but we’re ticking along and we have a few listings coming to market. It’s about targeting the right people.
Tell us more about your early life. I understand you collected quite a few stamps in your passport?
I was born in London and when I was 12, I moved to Switzerland. My father was in the oil business. I had fantastic friends from all over the world there and we were able to ski every day during the ski season. I moved to the US for college, where I studied business and marketing, then back to London.
What was your first job?
Selling life insurance. That’s the life of hard knocks. It was before the internet, so you had the telephone book in front of you. You’d open to A and start calling. I became salesman of the year for that company, then I shifted into advertising. After that point, I started working for myself, initially conducting independent market research for major companies.
How did you shift into real estate?
In 2000, I went back to Switzerland and I started a portal website for agents in the Gstaad valley. A couple of years later, I started my own real estate business, which I ran until 2013 when my wife – who had been at the UN in Geneva – was offered a job in New York. We moved with our two children there and I started working for Sotheby’s, before moving to Berkshire Hathaway Home Services. Warren Buffet is a mentor of mine. I worked there until the start of this year. I’m still a partner in a boutique brokerage business in New York.
How has the pandemic changed the luxury property market?
It’s interesting. People are saying, I’m not going to spend $10,000 to $20,000 on an overseas trip but I will renovate, add value and maybe test the market. There are buyers out there.
What’s the biggest difference you’ve noticed about selling homes in Australia compared to the US or Europe?
Most listings in US and Europe are sold by private treaty or expressions of interest, however auctions are very mainstream in Australia and have been for more than 20 years. I have noticed in Australia that luxury listings above $10 million have been traditionally sold through expressions of interest as well, however, this is now changing and gearing more towards auction. I think that where buyer pools are limited, the auction process can be a great way forward for the seller.
How do you spend your downtime?
We live in Putney. It’s lovely to be able to look at the water every morning. I have four children – two from my first marriage and two from my second. Here in Sydney, my children are 11 and 13. We do weekend sports. We love to go out boating. I kick myself that even in the middle of winter you can go out on the water or explore bush trails. Winter in Australia is like a UK summer.