Proprietor of Monaghan's Real Estate in Stawell, which itself recently celebrated its 50th birthday, Terry said it's been a 'fascinating' four decades in the industry.

"When buying or selling on behalf of a client, no two scenarios have been the same," Mr Monaghan said.

"Dealing with people from all walks of life and getting their purchase just right is a wonderful challenge.

"Probably one of the nicest feelings is helping a first-home buyer secure their first property. It's a privilege to be part of their genuine excitement."

Educated at St Patrick's Primary School in Stawell then Xavier College in Kew, Mr Monaghan started his working life in Melbourne then travelled around Australia finding jobs that ranged from truck driving in Port Augusta, well sinking at Barrow Creek to steel fixing in Alice Springs.

He returned to his hometown of Stawell in 1974 to work with his father Dick in the family business established in 1962. Terry and his wife Annette took over when his dad passed away in 1986 and focused on residential property sales and rentals.

"Our family has been in the district for more than 150 years," Mr Monaghan said.

"In 1873 my great grandfather Patrick Monaghan at only 16-years-old emigrated from Ireland on his own. My grandfather Peter was a grazier and stock agent. My father, RP Monaghan, became an independent stock, station and real estate agent in 1962 dealing mostly in stock, merchandise with some real estate sales.

"Today we continue the strong family tradition, with my son Matt also a fully licensed estate agent."

When reflecting on his career, Terry remembers negotiating the first house sale in Stawell that achieved the previously unheard of price of $100,000 - a near new four bedroom brick veneer.

"Now you are lucky to find anything at all below that figure," he said.

"Another significant event was the auction of Mrs Elsie Reading's estate.

"We filled the Stawell Town Hall with her rare and precious collectables and antique furniture and people came from all over Victoria as well as interstate. Everything was sold at marvellous prices."

Mr Monaghan said there had been many changes to the Grampians' property landscape over the years, including a dramatic rise in in the number of rental properties.

"We started out with only a few rentals on the books and now thanks to our dedicated staff we have around 400," he said.

Mr Monaghan said despite economic changes over the past 40 years - the closing and re-opening of Stawell's Main Street, Stawell Gold Mine's 30 years of operations, the growth of Frewstal and the ups and downs of farming - the Stawell market remains solid.

"We need to remember that even though some people are leaving for other endeavours, we are always welcoming new residents in their place who are attracted to our lifestyle and excellent facilities," he said.

"Stawell maintains a basic strength despite what changes are going on in industry or business."

Mr Monaghan has been an active member of the community during the past 40 years, lending his auctioneer skills to countless fundraising events and supporting sporting clubs through business sponsorship.

He is a Life Governor of Stawell Regional Health and a Justice of the Peace.