REINZ recognises Rotorua's Ian McDowell

HONOURED: Rotorua real estate veteran Ian McDowell receives his Real Estate Institute of New Zealand life membership from chairwoman Dame Rosanne Meo. PHOTO/SUPPLIED

Rotorua realtor Ian McDowell, who retired this year after selling the family business, has been awarded the industry's highest accolade by being inducted as a Real Estate Institute of New Zealand (REINZ) life member.

Only around 60 people have been admitted to the life members' club in the century since REINZ was founded, and there are currently 27 members, including Mr McDowell, the institute said.

"This is very highly regarded in the real estate industry," said Steve Lovegrove, who acquired the McDowell Professionals Rotorua office early this year.

"It's a major achievement for Rotorua to have someone in the equivalent of the real estate industry hall of fame."

Mr McDowell was a prominent figure in the Rotorua real estate market for almost 50 years. Four generations of the family, beginning with his great-grandfather in 1911, have been active in Rotorua real estate.

Mr McDowell cut his teeth as a valuer with an Auckland agency after completing his qualifications at Auckland University. After a stint overseas, he came back to Rotorua in 1970 to join the family business.

At the time there were 33 real estate agencies in the town and, like most of the other companies, the family firm had just one salesperson. The firm grew substantially with amalgamation and he became the firm's principal in 1976.

After selling the business to Mr Lovegrove, he stayed on for a few months as a consultant during the transition, then retired mid-year and has relocated to Mount Maunganui.

"It was a very great honour to receive the life membership," said Mr McDowell, who is also a fellow of both REINZ and the Valuers Institute.

Mr McDowell said he had been advised he had been nominated, but was delighted when the REINZ annual general meeting in Hamilton yesterday voted him into the life membership.

"I was especially pleased that such a large number of the Professionals staff in Rotorua came over to support me," he said.