How Croydon Businesswoman, Michelle McPherson, represents Women In Estate Agency whilst managing Hyde & Rowe and a Multi-Million Pound Portfolio.
Michelle McPherson is the CEO and Managing Director of Hyde & Rowe Property Agents.
She was voted Croydon’s most trusted estate agency and South London’s best trusted independent agency 2018 and Michelle has been awarded the CEO of the year for 2 consecutive years running, which is a result of continued success and company growth.
Michelle Mcpherson grew up with an entrepreneurial spirit and ran her own nail technician and makeup artistry business at 18, while also doing some modelling on the side. Her go-to attitude and energy was later transferred into her multi-award-winning company which she has been running for 15 years to date.
As the CEO and Managing Director, Michelle has successfully built a motivated team of people that runs like a family, as a result, the team are known to go out of their way to provide the best service possible, which is reflected in our overwhelming number of word of mouth referrals and repeat clients.
Take a look at this exclusive interview with Michelle where she discusses her achievements and aspirations.
How did Hyde & Rowe begin? How did you choose the name?
Michelle McDonald: I had been interested in estate agency since I was a young and although my career was in corporate banking, I was headhunted to run a franchise in the property field with a global corporate company in 1997 as a financial and mortgage advisor whilst continuing my banking role. By 2004 I had decided to take a leap and end my contract with the company so I could take over the office and re-brand it to give birth to Hyde & Rowe. The name Hyde & Rowe simply came from brainstorming. While I was in the process of finding a name, I knew I wanted a classy and prestigious name. Hyde & Rowe just came to me, just like that.
How did you lift your company off the ground?
Michelle McDonald: I designed leaflets and posted them around Croydon. This landed me 5 instructions so I could get the ball rolling smoothly. I also did door knocking to engage with prospective vendors and buyers as a method of building a rapport, which had proven to be effective in bringing in business. I would also engage in cold calls, as that was a proven strategy for lead generation in the early 21st Century. Each of these methods have proven to be excellent and it is through these methods of marketing that I have been able to build such strong rapports; I still do business with some property investors from 2004 to this date.
What’s your secret to the company’s outstanding growth?
Michelle McDonald: My naturally driven attitude is why I am so keen to develop new services, as well as move into new markets and generate fresh new deals. My secret is that I never stop planning and executing. I am a big believer in door to door selling which is why leaflet drops and door knocking are a huge part of my marketing efforts. The number of leads that have been generated as a result of our leaflets is overwhelming. In addition, I have also invested heavily in social media marketing and search engine marketing, as the world is turning digital and Hyde & Rowe is always in sync with people and culture. Another reason for the success of my company is that I always stay updated about market trends and changes, which has lead to the opening of two more departments; emergency accommodation and serviced accommodation, both which have proven itself as having high returns on investment. My guaranteed rent department focuses on assisting our local councils with the homeless prevention scheme as we ask landlords if we can take over their property so we can supply it people on benefits that need immediate housing. It is an honour to be able to help people and ensure that they are safe. In addition to providing them homes, we are also responsible for seeing to wear and tear damages as well as paying utility bills, so that our tenants live comfortably. My serviced accommodation department effectively runs properties like a hotel, which are advertised for short stay lets, which is ideal for people on business trips or for people on holiday.
Teach us something people don’t know about estate agency:
Michelle McDonald: Many people don’t realise that estate agency is actually about people and not properties, therefore building lasting relationships is the key. As a result, I always emphasise the importance of building a positive rapport with each individual we do business with and I have instilled strong customer service skills into my team. As a result, I have gained long term business partners and I have met some amazing property investors that do repeat business with us, some as long as 15 years. An extra bonus of thinking about people rather than properties is our endless word of mouth referrals as people recommend as a result of being impressed with the service we provide and how they have been treated.
What makes Hyde & Rowe stand out against other estate agents? How did you accomplish this?
Michelle McDonald: Hyde & Rowe is a lot more diverse than most agents, as I have branched out beyond sales and lettings, which has been a huge factor to opening up to new clients and business partners. As the managing director, I have a dynamic attitude and I am always up for a challenge. I never bury my head in the sand when the market is going through a challenging period, instead, I solve the problem myself to sustain my business. In addition, I stay ahead of my competitors by developing unique niche-based services to open doors for new types of clients.
What is your number one takeaway that you have learned from your success?
Michelle McDonald: One rule I have learned while running Hyde & Rowe is that it is important to hire individuals that have a passion for properties and a vision to stay in the industry. By doing so, I have been able to bring on passionate and motivated individuals that care about Hyde & Rowe and are willing to lookout for new ways to improve the company. As the property industry is so fast-paced, it is vital that my team always stay in the know of the housing market.
You’ve just been awarded the CEO of the year by CEO Today for the second consecutive year, what have you learned from your success?
Michelle McDonald: I have learned that hard work undoubtedly pays off and it is imperative that I don’t ever give up on my dreams. Being awarded the CEO of the year has driven me to grow Hyde & Rowe further, such as creating new plans and targets, as I am confident that it will certainly reap rewards. I also feel proud to have always gone with my instincts and knowledge combined, as I created and developed Hyde & Rowe from the ground up by myself.
Where do you see yourself and your company in 5 years? What’s your dream?
Michelle McDonald: I aspire to have a total of 5 fully functional offices around South London, as our supply in demand increases and I gain more business and expand my team.
I also plan on having new departments, such as a dressing department for serviced accommodation and for our sales department. I am also planning a refurbishment department especially aimed towards property investors that are looking to flip homes for a quick profit. In the next 5 years, I would like to multiply my annual turnover and I have strong faith that it will be possible to achieve, with the plans I currently have in place as well as a result of my enthusiastic attitude.
Hyde & Rowe in a nutshell
To round it up, there are a number of reasons why you should choose Hyde & Rowe next time you need an agent, the main one being that they care so much about people and ensuring that they meet the needs of vendors, buyers, landlords and tenants alike. It is no wonder property investors in Croydon choose Hyde & Rowe over and over again.
Your property will definitely be in safe hands when you allow Hyde & Rowe to take care of it all.
Thanks to Michelle for her time and thank you for reading.
The Hyde & Rowe Team.