REI Super Member Profile
Jeanette Laffan, Ruralco Property
The idyllic lifestyle of Kilmore and the surrounding areas draws Melbournians up the Hume, and Jeanette Laffan is only too happy to show them everything the township has to offer.
REI Super: How did you get into real estate?
Jeanette: I wanted a part time job that fitted around school hours, so I started as administration assistant here at Ruralco. Within a couple of months I got a feel for what real estate and being an agent involved, and I thought, "Wow, I think I'd be good at that." Six years later, I'm so grateful for the personal growth and the sense of satisfaction and achievement that the job's given me. It really has had a massive impact on my life for the good.
REI Super: What do you like about the industry?
Jeanette: Real estate's not really about properties; it's about people. It's about being a problem solver and smoothing the path of their transaction. I also love the negotiating side of the job. It is quite competitive, which suits my personality.
REI Super: Can you tell me about the Kilmore area?
Jeanette: It’s a beautiful town with a population of 8,000. There are a number of small acreage properties, as well as some bigger, rural farms. We're about an hour out of Melbourne, with really good transport corridors in the area, so it is very easy for people to enjoy that country lifestyle but still be close to all that Melbourne has to offer with employment, entertainment, and sporting facilities.
REI Super: Do you have a particular property that was a favourite of yours to sell?
Jeanette: The highlight for me in the last 12 months has been Chase Farm at Strath Creek, set on over 1,000 acres. There aren’t many that large left in the area. We ran a really strong marketing campaign in print media, social, as well as the web portals.
We ended up getting 16 offers on that property and it went for hundreds of thousands of dollars in excess of the vendor's price expectation. It was a fantastic result for everyone.
REI Super: Do you get much interest from overseas, or is it mostly domestic?
Jeanette: It's mostly local or interstate, but we’ve had the occasional buyer from South Africa, China, or Europe. A big percentage of the buyers we deal with are Melbourne based, moving out for that lifestyle change.
REI Super: We recently had International Women's Day, what does this day mean to you?
Jeanette: For me, it's about highlighting women's achievements in their particular roles or areas that they work in. It's a great opportunity to focus on equality in the workplace and in life in general. Unfortunately there are still a way too many women in this world that are not treated equally and don't have the same opportunities that men have. I think the more we can focus on that and address it, the better.
I would love to encourage more women to get into the rural real estate space, because there's not very many of us. It's hard for women to find other female mentors, too, in management roles. There are lot of female salespeople, but that hasn’t yet translated into women in higher management roles.
I did have a very proud moment, recently. A former colleague of mine, who we were very sad to see move Queensland, called her first auction. I was a wonderful moment see someone I’d mentored doing her first auction and selling under the hammer.
REI Super: You recently joined REI Super. Why did you choose us?
Jeanette: I've always been a big fan of industry super funds because I think their fee structure is much better for members. It's great to be able to support the industry funds, and they've been getting great results.
REI Super: What is your approach to investing in super?
Jeanette: I regularly make personal contributions to top up my super. As a mother of three I spent extended time out of the workforce or in part-time work while my kids were young. I also had a serious accident 11 years ago which involved weeks in hospital and rehab, and of course time off work. At that point I was doing freelance work so it really affected my income and hence my super contributions. I strongly believe that the government needs to rethink the caps on tax deductible contributions for women. We commonly do spend time out of the workforce when our children are young. Then when we re-enter and start earning good income our attempts to catch up on super are effectively penalised.
REI Super: Can you ever see yourself retiring?
Jeanette: I don't think I would ever be able to completely stop working. I would have to have a few part time projects on the go. I might even consider joining a board for a not-for-profit or charitable organisation. And of course I want to do some more travelling, too, and to spend more time with family.
REI Super: Have you had any experience with self-managed super funds?
Jeanette: Yes. My husband and I sat down with a financial advisor and explored the possibility of going down that track. We decided it was going to be an additional burden on us that we really didn't have time for. Sometimes you're better off focusing on what you know you're really good at. For me, that’s real estate, and for REI Super, it’s super.
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