From Scratch to Success: Derrick & Elizabeth Wong on Turning Passion into a Buyers Agent Business

In the bustling world of property investment, Derrick and Elizabeth Wong have carved a unique path. Despite sharing the same last name, the two were strangers until they crossed paths in the Buyers Agent Institute community. Today, they run a successful buyers agent business in Victoria, helping clients achieve financial freedom through property investment. 

Elizabeth Wong: From MedTech to Property Investment

Elizabeth’s journey into property investment began during Melbourne’s strict lockdowns. Seeking a meaningful outlet, she immersed herself in property research, uncovering the concept of rentvesting. Nine months of tireless study led to the purchase of her first investment property, which inspired a second. Realising that many Australians feel overwhelmed by the complexities of property investment, Elizabeth decided to channel her newfound expertise into helping others.

“My goal is to show people that building wealth through property is achievable,” Elizabeth shares. “I bought two properties on a single, average income, and I want to help others do the same.”

Before joining BAI in December 2022, Elizabeth worked in MedTech Commercialisation, applying her background in genetics and biotechnology to bring innovative medical technologies to market. This meticulous and analytical approach now informs her property strategies, ensuring high-performing outcomes for her clients.

Her leap into full-time business ownership came in December 2023, fueled by the support of BAI’s Everest program. While running a business presented challenges, Elizabeth finds immense satisfaction in closing deals and delivering value to clients.

Her advice for aspiring buyers agents? “Your first client is the hardest to sign up. Don’t be discouraged—keep going, and it will get easier.”

Derrick Wong: A Passion for Property

Derrick’s passion for property investment ignited at a young age. At 22, he purchased his first property, leveraging zoning knowledge to double its value within two years. This success led to ventures in subdivisions, rooming house construction, and more.

Initially unaware of the buyers agent industry, Derrick ran a finance broking business that helped investors grow their portfolios. A chance encounter with BAI’s programs in 2020 opened the door to turning his passion into a career.

“The biggest win for me was transforming my passion into a career where I could help others achieve financial freedom through property,” Derrick reflects.

His background in engineering and project management shaped his problem-solving approach, which sets him apart in the property industry. Derrick emphasises the importance of building efficient systems, hiring the right team, and leveraging existing resources to scale operations effectively.

A Partnership Built on Complementary Strengths

In 2023, Derrick and Elizabeth joined forces to create a holistic property service that integrates financial clarity, strategic planning, and property acquisition. Their partnership leverages Derrick’s expertise in finance and Elizabeth’s data-driven property insights to deliver unparalleled value to clients.

Key milestones include:

• Streamlining Operations: The duo built a CRM system, hired administrative staff, and established standard operating procedures to optimize processes.
• Integrating Services: By aligning their buyers agent business with Derrick’s finance broking operations, they created a seamless experience for clients.
• Rapid Growth: Within months, they onboarded multiple clients and built a foundation for sustainable growth.