When Michael Kollosche considered opening his own real estate agency, he had a clear vision of what he wanted to achieve – be different, be better.

To do that, he needed to bring together the industry’s top performers – those who shared the same morals, ethics and level of integrity – to work in collaboration.

“I used to look at the top 10 to 15 agents on the Gold Coast and think, imagine if you could bring all of them under one umbrella, with all their contacts, databases and experience, and get them to work together rather than individually. What a powerhouse that would be,” Michael says.

“Real estate agents generally, are not held in high regard. I think it’s because some act like cowboys, without morals or values,” he says. “I wanted Kollosche to be different. I wanted there to be a big focus on compliance and ethics, and to make sure that the advice we provided to clients was honest and always in their best interest.

“In being honest, you provide the basis for client relationships that last a lifetime.”

When Michael opened the doors to Kollosche in 2019, with a team of 11, including some of the Coast’s top agents, he was already on his way to achieving his vision.

A year down the line and the Coronavirus pandemic reached Australia’s shores, bringing with it doom, gloom and predictions of a housing market crash.

What could have been a devastating blow to the agency turned into an opportunity, aided by some strategic thinking.

“For nine months we doubled down on training and brought in mindset coaches to keep the mental health of our team in check. Morale couldn’t have been better.” 

The strategy proved successful, and meant Kollosche was well-prepared when the market failed to crumble and instead turned into one of the most prosperous property markets in decades. As a result, Kollosche achieved more than $1 billion in unconditional sales in the 2020-21 financial year.

RAPID RISE

Between 2020 and 2023, Kollosche continued to grow exponentially. It now boasts a 97-strong team of highly experienced sales agents and real estate specialists across multiple divisions, including residential and commercial sales, leasing and property management, off-the-plan sales through Kollosche New Projects, along with K Intel and K Insights. The team is further supported by in-house accounting, HR, and legal divisions.

Growing a business at such a rate does not come without challenges, however.

“There are always growing pains when going through rapid growth,” Michael says. “Trying to work out what you should be focusing on, while not getting distracted by things that may not be a good fit for the business is tricky.”

Michael attributes the ability of the business to succeed in the face of such challenges to the quality of the people working within it.

The only way that I am able to do what I do is because I can throw things over my shoulder knowing they are going to be caught by the right people,” Michael says.

“Our business is successful because of the level of collaboration and how well everyone works together, but it is also, in some ways, because of the people that we have had to say no to along the way. Recruiting like-minded people to come on a journey with you is so important. It took me a while to learn that.

“Most people do have the potential to grow into better versions of themselves with guidance and training. Kollosche focuses a lot on people’s overall wellbeing, which is why we brought Aneta (Kollosche’s inhouse wellbeing and transformational coach) into the business from the outset.”

KEY LEARNING

On Kollosche’s five-year journey, Michael admits to having had to learn many things, and fast. The key takeaway he proffers to those thinking of following in his footsteps is to own every mistake.

If things go wrong, take 100 per cent ownership of it. Too many people blame everyone else for what goes wrong, rather than own it, unpack it, analyse it, then put systems and processes in place to ensure that it does not happen again.

“It’s the reason we have two lawyers and a legal assistant in our business, for compliance and training, so we can ensure that everyone is operating under best practices, and we can minimise any issues. 

BIGGEST ACHIEVEMENT

One of the more memorable milestones of the past five years, Michael says, has been the establishment of the Kollosche Community Fund, a vehicle through which agents and staff can support causes close to their hearts. Set up in 2021, it has grown to become an integral part of Kollosche’s core ethos and operations.

“Kollosche has improved and enriched the lives of many people and their families over the years through the Community Fund. Being able to assist those who are homeless or hungry, in desperate circumstances, alongside sporting organisations and other charities has been extremely fulfilling.”

THE FUTURE

When asked about the future, Michael says: “It is our intention to grow our market share. There are a few other sectors that we will look to move into, but I don’t want to give too much away.

Personally, I do not want to be a selling principal forever. I have nothing left to prove. While I enjoy it, I get more of a kick out of growing and helping the wider team.

Ultimately Kollosche will continue to elevate its people, making sure everyone has the right work-life balance.” 

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