Millionaire estate agent Ric Serrao lives in demolished Bondi Beach

Why One of Australia’s Top Estate Agents Chose This VERY Humble Unassuming Home Over a Mega-Mansion

  • Australia’s 3rd-highest-grossing estate agent lives in a ‘dismantling’ in Bondi
  • Ric Serrao, 55, lives in the three-bedroom fiber house in the beach suburb
  • He says he and his wife Lucy fell in love with the house’s large off-street parking lot

One of Australia’s top estate agents lives in a fibro ‘bust’ in Bondi, choosing off-street parking and a prime location over a suburban mega-mansion.

Ric Serrao is the director of Raine and Horne in Double Bay and Bondi Beach, two of Sydney’s most desirable and expensive property markets.

In 2021, he was the third highest-ranked estate agent in Australia after closing deals worth $315 million in just 12 months.

One of Australia’s top estate agents lives in a ‘dismantling’ fibro in Bondi, choosing off-street parking and prime location over a suburban mega-mansion

Ric Serrao, pictured here with his wife and three sons, is the manager of Raine and Horne in Double Bay and Bondi Beach, two of Sydney's most desirable and expensive property markets.

Ric Serrao, pictured here with his wife and three sons, is the manager of Raine and Horne in Double Bay and Bondi Beach, two of Sydney’s most desirable and expensive property markets.

Speaking to FEMAIL, the father-of-three revealed he and his wife adore their modest three-bedroom home and want to “keep it real”, noting flash isn’t always the best.

In fact, he admitted one particular feature caught the eye of his wife Lucy when they looked at the North Bondi home 12 years ago.

“My partner fell in love with the number of parking spaces and private garden,” he said.

Before you admit parking in the seaside suburb is crazy, the off-street access is an incredible bonus.

The house has a huge side driveway - the feature that first caught his wife's eye

The house has a huge side driveway – the feature that first caught his wife’s eye

Mr Serrao, 55, who grew up in the western suburbs, said the family carried out some minor renovations before moving into the house, but retained many original features.

Renovations included infilling the pool and opening up the interior of the south-facing home to allow more natural light.

But the bathroom and kitchen remained the same as they were in good enough condition to do the job.

“By saying that our kitchen cupboard door fell off this morning, I guess that will have to be fixed,” he laughed.

The real estate agent lives in the house with his wife and toddler, but his two now grown sons also lived there.

The house is a few minutes from the beach, on foot, which is another reason why the family loves it so much.

The house is a few minutes from the beach, on foot, which is another reason why the family loves it so much.

The real estate agent, who was born in the west end of the city, says people expect agents to drive expensive cars and live in huge houses, but she prefers to be in a big community

The real estate agent, who was born in the west end of the city, says people expect agents to drive expensive cars and live in huge houses, but she prefers to be in a big community

“People expect real estate agents to drive a Lamborghini and live in a flashy house,” he said.

Before revealing the location, place a few blocks away from the beach, and the pleasant atmosphere of the community has a much higher value for him.

The house is set back from the street behind a high wall and hedge which provides the family with privacy from passers-by.

The wide driveway means they don’t have to fight for parking, and neither do their guests.

The kitchen and bathroom are the same as they were 12 years ago when he moved in - he admits some things will need fixing soon after a cupboard door recently came loose

The kitchen and bathroom are the same as they were 12 years ago when he moved in – he admits some things will need fixing soon after a cupboard door recently came loose

“Living in Bondi, parking is a nightmare, you shouldn’t buy a property here without parking,” he laughed.

The couple plan to one day tear down the old-style house and rebuild it, but will focus on maintaining the elements of the property they love: the private garden and parking lot.

“Given rising building prices, we may have to delay,” he said.

According to real estate data on Realestate.com, the agent has sold 131 properties in the last 12 months.

He acted as lead agent on 71 of these properties which had a median sale price of $3.15 million and closed in less than 30 days.

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