Q & A with Wendy Thomson | General Manager | Victoria

03/12/2024

As the highly regarded General Manager for Victoria, Wendy is a renowned all-rounder in the property industry, having built an impressive reputation across various real estate sectors. Her expertise spans commercial sales, leasing, and management, excelling in negotiation, strategic thinking, and client relationships. Wendy’s dedication to mentoring has significantly shaped the next generation of professionals, while her active involvement with the Australian Academy of Property has played a pivotal role in advancing careers and driving success within the industry.

You’ve built a reputation as an all-rounder in the property industry. What key skills or areas of expertise do you believe are essential for success in such a diverse field?

Success in the property industry requires a broad skill set that blends technical knowledge with strong interpersonal skills. Understanding the market, whether commercial or residential, is crucial, as are communication and negotiation abilities for securing deals and building relationships.

Having previously run my own agency and consultancy, it’s reinforced the value of strategic thinking and problem-solving, especially when navigating challenges. Attention to detail, managing risk, and ensuring compliance are also essential. Staying organised and proactive helps manage diverse portfolios and ensures success.

How has your regional background influenced your approach to real estate?

Coming from a regional background has taught me not to take “it cannot be done’ as an answer and to always remain curious. This perspective isn’t just beneficial in regional areas but translates across city and metro markets too. Connecting with people on a personal level, understanding their needs, and offering solutions that are practical yet creative is what sets successful professionals apart in any real estate market.

With several decades of experience in the property industry, what are the most significant changes you’ve witnessed, particularly in regional Victoria?

Regional Victoria has undergone a tremendous transformation over the past 20 years. One of the most notable changes has been the lifestyle shift. People are no longer just escaping the city—they’re choosing regional towns for the work-life balance, space, and sense of community they offer. This shift has propelled growth, turning once-quiet towns into vibrant hubs of innovation.

What’s exciting is the evolution of these communities, which are not merely replicating urban life but developing their own ecosystems. We now see local entrepreneurs meeting the demand for high-quality goods and services, from gourmet dining to first-class healthcare. Regional areas are emerging as thriving, self-sufficient alternatives to city living.

Regional Victoria, and Australia in fact, has become an attractive market, offering the perfect blend of modern convenience and a community-driven lifestyle. It’s an exciting time to be involved in property in these areas, as they redefine themselves in new and exciting ways.

What should investors look for?

Regional areas offer commercial investments at more affordable entry points than metropolitan markets, which is attracting investors who may not have previously considered commercial properties.

Commercial properties in these areas often come at lower price points while still offering solid returns. It’s crucial, however, to engage a professional property manager familiar with the local market to help maximise rental income and minimise risk.

Post-COVID growth in both population and business activity in regional areas makes this an opportune moment for long-term capital growth. Investors targeting areas with strong infrastructure development, new projects, and a solid local economy are well-positioned to benefit from the rising demand for commercial spaces and the corresponding increase in property values.

Looking ahead, what trends or shifts do you foresee for the future of the property industry?

Regional Victoria continues to attract significant interest from global and national businesses, especially in industries such as manufacturing, agriculture, food production, and solar energy. This influx of investment is driving demand for industrial and commercial properties, as well as for infrastructure to support these growing industries.