Changes at Property Brokers Whanganui as branch manager becomes company shareholder

Ritesh Verma (left) and Vicky Todd started working together at Sutton Real Estate, under 'the late great Doug Lacy'. Photo / Mike Tweed

After two decades together in real estate, Sunday open homes may finally be a thing of the past for Property Brokers’ Ritesh Verma and Vicky Todd.

Verma has been made a shareholder and regional manager of the company, with Todd moving up to take his Whanganui branch manager role.

The pair first met at Sutton Real Estate in 2005, under “the late great Doug Lacy”, Verma said.

“We’ve both worked really hard but, if you’re good at it, it can be life-changing.

“There are no silver bullets.

“No one else can make the phone calls for you, and no one else can go to the homes and meet the people. You have to do it yourself.”

Before real estate, Todd was a police detective in the Criminal Investigation Branch for six years.

She said the job was “pretty taxing at times”.

“It was a great career, but it was time for a change. This has been an incredible career as well, for 20 years.

“The thing with real estate is there is absolutely no hierarchy.

“Someone could come into the industry tomorrow as a new salesperson and do as well as anyone.”

In 2022, Todd and her team sold a five-bedroom mansion at Otamatea for $2 million, which remains the most expensive residential sale in Whanganui.

Verma, who began as branch manager in 2020, said Property Brokers Whanganui had grown from an 11% market share to between 50% and 60%.

The company had given out sponsorships totalling about $1m since it began in Whanganui in 2008, he said.

“That’s one thing, but you need your people involved in that stuff as well, otherwise it’s just a donation.

“For example, when any of the team comes to us about sponsoring a shirt, we say ‘That’s great, but are you going to be there?’.

“Are you going to be the one giving a speech at the end of footie game? That’s just as important.”

Ritesh Verma worked at a petrol station before becoming a real estate agent, with Todd a police detective. Photo / Mike Tweed

Todd said despite technology such as social media playing more of a role in the job, the basics had not changed.

“Doug Lacy always said ‘You won’t get a listing sitting at your desk’.

“It’s about talking to people and meeting people - human relationships.”

The pair had never thought about moving to another career, Verma said.

“That’s not to say there haven’t been days when we’ve been in our car in tears thinking ‘Why the hell do we do this?’, but we’ve never quit.”

Verma, who grew up on Talbot St in Whanganui East, worked at a petrol station in Wairarapa before becoming an agent.

“If you want to meet a lot of people, work at a servo,” he said.

“They said I’d make a great real estate agent, so I did, and I’ve been one ever since.”

He said his new role involved running operations “from a business perspective” and making sure staff were well trained and resourced.

“I’m not sure there’s another role up from here. I’d probably have to marry into the Mordaunts [company founders].

“There are no open homes on a Sunday, that’s the important thing.”

Todd said the Whanganui branch had won best medium office (sales volume) at the Real Estate Institute of New Zealand Awards for Excellence for six of the past eight years.

“We punch above our weight, and there are really great people here - good buggers, basically.

“Ritesh was the person I looked up to when he was achieving a lot, he was number one in the country for several years, and that drove me hugely.

“I’m really proud of him.”

Todd was in Property Brokers New Zealand’s top 20 for sales in 2024/25, a list she has featured in every year since 2017.

Mike Tweed is a multimedia journalist at the Whanganui Chronicle. Since starting in March 2020, he has dabbled in everything from sport to music. At present his focus is local government, primarily the Whanganui District Council.