We’re excited to introduce you to the always interesting and insightful Penny Hyde. We hope you’ll enjoy our conversation with Penny below.

Alright, Penny thanks for taking the time to share your stories and insights with us today. We’d love to have you retell us the story behind how you came up with the idea for your business, I think our audience would really enjoy hearing the backstory.

Many years ago, I found myself at a crossroads in my career within the real estate industry. Having spent six years as a real estate agent in Canberra for a wonderful agency, I had become increasingly disheartened by the ethical challenges I faced. At that point in the market, prices were consistently on the rise, it was competitive however it seemed all too easy to convince buyers to inflate their offers needlessly. The balance between how sellers were supported, versus how buyers were supported in a property purchase was so unbalanced that my part in this process didn’t feel right any longer.

I had also started working in real estate when my son was only 3 months old so the challenges of motherhood and working full-time in a role that wasn’t satisfying were butting heads with me in a big way as well. I felt a desire to change the narrative of my career, to shift from a seller-centric focus to a buyer-centric approach in a role that also allowed me to spend more time with my family.

The decision to start a buyers agency business in Canberra was not only a personal pivot but a strategic response to an industry gap in my market. At that point in time, there was only one other buyers agent in Canberra. It was evident that buyers needed dedicated, unbiased support in navigating the real estate market here, and I knew that I had the expertise to guide buyers through the complex process of property acquisition, ensuring they made informed decisions without unnecessary financial strain or emotional distress. I envisioned a business that would challenge the status quo, offering a unique and ethical approach that prioritised the interests of the buyers.

In essence, my buyers agency was not just a business venture; it was a mission to redefine the real estate experience in Canberra. I was driven by the belief that ethical representation for buyers, coupled with a deep understanding of the market from the point of view of a sales agent, could create a win-win situation for buyers and sellers alike.

This journey was not only a logical response to the challenges I faced but also a passionate pursuit of a more equitable and client-focused real estate landscape. By focusing on the buyer’s needs, my business would stand out in a market saturated with seller-centric agencies. I was excited about the prospect of bringing positive change to an industry I had grown disillusioned with, and I believed that my commitment to integrity and transparency would resonate with clients seeking a trusted advocate.

Awesome – so before we get into the rest of our questions, can you briefly introduce yourself to our readers.

My journey began with my personal experiences in buying, renovating and selling properties for myself for many years before formally entering the industry. Having navigated the real estate market for my own investments, I gained valuable insights into the intricacies of the process and an understanding of the importance of having a knowledgeable and trustworthy agent by your side. The positive impact of a skilled agent on my real estate endeavours inspired me to transition into a career where I could provide the same level of expertise and support to others.

Over the years, I’ve honed my abilities to assess market trends, negotiate effectively, and ensure a smooth and successful transaction for my clients and my business is now in a position where we can confidently give our clients an unfair advantage when they are buying real estate In Canberra.

We assist clients from all over the world who don’t have the time, inclination or ability to confidently represent themselves in a property transaction and we do this through bidding at auctions, finding off-market properties and negotiating a purchase to assisting with renovations and property management. As independent buyers agents, we look at the whole market and provide a full open home-to-owner journey and take the stress out of that whole process.

Can you talk to us about how your funded your business?

I was fortunate that my business could begin on the smell of an oily rag. At the time, I was quite naive and didn’t explore alternative funding options as I wasn’t aware that was an option. Instead, I chose to save money by forgoing certain luxuries for a while. Given my limited financial resources, I invested time in acquiring new skills so that when the business required something, I taught myself how to handle it, from building a website to designing my own logo.

Essentially, I maximised my time and minimised expenses by taking a hands-on approach and learning to do things independently. The business has been fully self-funded from day one with a percentage of each commission being used to fund the business activities and this is still a concept we use today.

We’d love to hear a story of resilience from your journey.

In my opinon, resilience isn’t just about bouncing back; it’s about growing stronger through adversity because adapting to challenging life experiences is an everyday occurrence when you’re a business owner right? It feels like a normal part of life because the thing about these situations is that they will always occur to varying degrees and you can’t just stop and take time off as the business doesn’t stop. As business owners we don’t have sick leave and a boss who can delegate your work to someone else so you just have to keep on keeping on despite what is going on for you.

The journey I’ve been through, marked by medical challenges and professional setbacks, has been a testament to my willingness not to let the bad things rule my world. At 37 I had a stroke which was followed by 12 months of rehab learning to walk and talk properly again; Becoming suddenly anaphylactic to nuts when I turned 40 and having to discuss my funeral with my husband from an ER bed due to the possibly impending heart attack from the adrenaline injections, to the diagnosis of a disease that left me needing an emergency hysterectomy at 42. These were my resilience-inducing events.

I found myself not only battling physical health issues but also grappling with the unexpected upheaval in my professional life. The added stress of an employee neglecting their duties during a critical time whilst I was in hospital threatened my business and reputation, imposing a massive financial burden and causing me to almost lose the whole business; a part of which I later had to sell off.

I experienced a lot of weakness, feeling broken and battered and unable to cope but I was being supported by a team of caring individuals, some close to me and others who emerged from the challenges themselves. I realised the power of a strong support system. Their belief in me and their love fuelled my determination to move beyond the hardships and succeed.

At 44 and almost very healthy, I now reflect on what has been and through this journey, I’ve come to understand that resilience is born not just from adversity but from a very conscious, in some cases daily and sometimes even hourly decision to rise above it.

Today, I sit with a happy heart, grateful for the strength within me and the unwavering support that propelled me forward to be in a position today where my business, which faced the brink of collapse, not only survived but thrived, and is already out performing any year we have ever had.

Contact Info:

• Website: www.pennyhyde.com.au
• Instagram: https://www.instagram.com/pennyhyde.buyersagent/
• Facebook: https://www.facebook.com/pennyhyde.com.au
• Linkedin: https://www.linkedin.com/in/pennyhyde/?originalSubdomain=au