Marcus Chiminello: This Melbourne agent sells $800 million worth of luxury property a year
Marcus Chiminello is in a unique position to understand the true depth of Melbourne’s most prestigious property market, and the director of Marshall White Stonnington says discretion, patience and persistence are essential.
Some of Chiminello’s deals, involving vendors and buyers of prominence, are so confidential that only the names listed on the contract ever know they occurred.
The highly regarded Chiminello, who joined Marshall White in 2004, is a Toorak specialist and inks more than $800 million worth of property sales each year.
There was one week in 2022 he’ll never forget, when he twice broke Victoria’s house price record.
A near-$75 million deal for 17 St Georges Road in Toorak was making headlines, while another benchmark was about to be shattered nearby.
“I think the greatest three days in real estate that ever occurred were the sale of 29-31 St Georges Road for just over $80 million, which followed the sale of 17 St Georges Road 48 hours earlier,” Chiminello says.
“They were both record-breaking results, and it’s going to be very hard to repeat a week of real estate like that.”
As a result, few know Melbourne’s most storied suburb as thoroughly as Chiminello.
“Toorak is steeped in history, and it has been the destination for the movers and shakers and those who have shaped Melbourne for a very, very long time,” he says.
“It has been, and will continue to be, Melbourne’s most aspirational suburb. Everyone has a different reason why they come to Toorak, but it caters for all.”
A former builder, Chiminello’s path to success began 18 months before his debut sale. He had paused to watch an auctioneer in full flight outside a property on the illustrious Monomeath Avenue in Canterbury.
The property sold for $1.82 million, which Chiminello recalls was “an extraordinary amount of money, relative to my world”.
“I thought, ‘What amazing responsibility someone has, conducting this auction process,’ and that’s what sparked the curiosity to investigate what it looked like – and took – to get into the industry,” he says.
Chiminello inked his first real estate sale at 24, thriving under pressure just six weeks into his career.
“Pressure is a by-product of the industry – it will either make you or break you,” he says of the work done at the top end of the market.
Chiminello’s strong suit is luxury homes and developments upwards of $10 million.
Operating at this level has seen him handle many landmark estates of cultural and historic importance to Melbourne. Among them is the Myer family’s Cranlana, which is for sale with a public price guide of $96 million to $105 million.
“Every sale is important and there are emotional ones, whether you are representing someone’s loved one or it’s been a family home for decades,” Chiminello says.
Outside of real estate, staying fit and boxing are his passions and avenues to unwind.
“You’ll either find me in the gym or in the ring,” he says, “and then having some downtime, immersing myself with my family.”
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