LET GO TO GROW PAGE 26
THE ‘HIT AND STICK’ PHILOSOPHY PAGE 30
THE DREAM TEAM PAGE 48
LEARN FROM THE BEST #14 DEC 2016/JAN 2017
BUYER PERCEPTIONS HOW DO YOUR CLIENTS RATE YOU?
PROFILE
THE ART OF REAL ESTATE IN NYC
10 THINGS NEW AGENTS NEED TO KNOW
MARKETING
10 DIGITAL TOOLS TO SUPERCHARGE YOUR MARKETING TECHNOLOGY
MAKING EVERY PROSPECT COUNT
SONYA TRELOAR PRECISION AND PERSONAL BRANDING
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Issue 14 Dec 2016 | Jan 2017
eliteagent.com.au | eliteagent.tv SAMANTHA MCLEAN Managing Editor samantha@eliteagent.com.au MARK EDWARDS Publisher | Commercial Partnerships mark@eliteagent.com.au
TOM SULLIVAN Commercial Partnerships– Digital tom@eliteagent.com.au
LARA SCOTT Digital Editor lara@eliteagent.com.au
SHANTELLE ISAAKS Marketing Assistant | Newsroom shantelle@eliteagent.com.au
JILL BONIFACE Sub-Editor jill@eliteagent.com.au
CHORUS DESIGN Art Direction | Design thegoodpeople@chorusdesign.com
FEATURE WRITERS Samantha McLean, Sarah Bell, Iolanthe Gabrie
COVER STORY PHOTOGRAPHY Melissa Belanic, topsnap.com
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6 ELITE AGENT • DEC 2016 - JAN 2017
DELIVERED TO YOU STRAIGHT UP
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Contents Regulars 010 EDITOR’S LETTER 014 READER PROFILE Thom Eriksson-Lake 018 FROM THE DIGITAL EDITOR Lara Scott 020 ASK THE COACH Claudio Encina 032 MINDSET CORNER Jet Xavier 034 DATA INSIGHTS Eddie Cetin 036 BUSINESS DEPOT John Knight
30
038 WELLNESS Tom Sullivan 056 THE HOME STRAIGHT Mark McLeod
Everyone is talking about 016 LOCAL HERO - Hugh Bateman
First Person 022 WHAT DO THEY REALLY NEED? Josh Phegan 024 10 QUESTIONS YOU NEED TO ASK YOURSELF Tom Panos 026 LET GO TO GROW Julie Davis and Neil Williams 028 SHORT-TERM WINS, LONG TERM SUCCESS Charles Tarbey 030 THE HIT AND STICK PHILOSOPHY Cameron Nicholls
40
Cover Story 040 BREAKING THE BARRIERS Sonya Treloar
Elite Agent 044 T HE SELF ASSESSMENT TECHNIQUE THAT LEADS TO GROWTH Manos Findikakis 046 BUYER PERCEPTIONS: HOW DO YOUR CLIENTS RATE YOU? Kylie Davis 048 THE DREAM TEAM: Craig Fine, Darren Fine and Ben Cohen 050 PROPERTY AND PERSONAL INJURY: WHO IS TO BLAME? Lisa Jemmeson 052 1 0 DIGITAL TOOLS TO SUPERCHARGE YOUR MARKETING Samantha McLean 054 THE ART OF REAL ESTATE IN NYC Sarah Bell
54 8 ELITE AGENT • DEC 2016 - JAN 2017
THE ELITE AGENT TEAM wish you a fabulous festive season and prosperous New Year. We asked readers and contributors to share their goals for 2017. CLINTON KNOP, C21 BUNBURY, WA EA Issue 07 – Cover Story “To continue the journey of self-authenticity without the need of approval or understanding 2020 by others. To stay in a place of love and grace towards everyone around me. Ultimately it’s my life and to be accountable for that.” SOCIAL MEDIA REPORT CARD PAGE 14
HOW TO STAND OUT ON THE GLOBAL STAGE PAGE 20
#07 OCT/NOV 2015 AU$9.95 + POSTAGE
AUSTRALIA’S TOP GUN Red Bull racing champ Matt Hall talks mindset
NO SALES AWARDS
GET READY FOR
The agency that puts client satisfaction first
STRONGER THAN STEEL
Clinton Knop
Virtual reality agents
EQUITY: TO SHARE OR NOT TO SHARE
JEAN-PAUL ELSING LJ HOOKER TAREE, NSW Transform Sales #supersix 2016
“I still want to be on the front cover of Elite Agent Magazine. Not just to be on it but for what it would mean – that I’ve gone from the bottom of my real estate career to being back on top and pushing the boundaries of my work. While this is one major goal for me it will only work if I complete lots of small and medium goals along the way.”
“As Tom Panos said, ‘Energy is Everything’. This year I want to get back to my fitness days, Have the energy I used to and be able to bring the energy to the prospecting and listings I do.”
SERVING A NICHE MARKET PAGE 50
LEARN FROM THE BEST
CONNECTING EMPLOYEES IN THE CLOUD
ZAC MCHARDY RAINE & HORNE CHERMSIDE, QLD Transform Sales #supersix 2016
HAVE YOUR SAY IN OUR
READER SURVEY:
Find out more on page 47
MELINDA ALLAMBY, RAY WHITE, QLD Transform Sales #supersix 2016 “I’m on a mission to reach the top of my 2017 mountain. Building momentum and going through the ‘grind’ over the past six months has been, shall I say… interesting? But the most important change is that I have set very clear targets and broken them down into years, months, weeks, days. This gives me clarity to understand what I need to do every day to get where I need to be. It’s a simple formula and one that I am sticking with.”
NATHAN HAYNES BRADLEY FIRST NATIONAL FIGTREE “To achieve $450,000 in GCI in 2017 so my wife can stop working.”
“My goal for 2017 is to streamline the operations of the business as I’ve just hired three staff. More strategic thinking across Michael Clarke & marketing, market share, Cherie Humel less hands-on with admin and more prospecting to increase client base. More doing what I love, so more time for smiling.” EXPANDING TO NEW MARKETS PAGE 16
A GAME OF DRONES PAGE 36
SELLING PROPERTY TO SMSF INVESTORS PAGE 42
BEN MUNRO SMITH, DHA Transform Sales #supersix Winner 2016
STEFANIE DOBRO, CAPORN YOUNG, WA EA Issue 10 – Cover Story
and the power of presence
IT TAKES TWO
with Stuart Benson
“My goals for 2017 are all about connecting. The obvious connections in our industry as agents are about connecting Stefanie Dobro with sellers and buyers and connecting buyers to properties. At another level for me connecting is also about connecting, with my team, the people in our company, colleagues in the industry, and connecting people we meet with people they can help or who can help them.” LEARN FROM THE BEST #10 APR/MAY 2016 AU$13.50
4 RULES FOR BUILDING A WORLD CLASS REFERRAL NETWORK 5 TRENDS THAT MAY INFLUENCE PROPERTY IN AUSTRALIA
COMMUNITY ENGAGEMENT
IS YOUR DATABASE FIT OR FAT?
THE AWESOME HUMAN MANIFESTO
THE TRUSTED ADVISOR
FEE NEGOTIATION
HARNESSING BIG DATA FOR PROSPECTING HOW TO
SURVIVE YOUR FIRST MONTH IN REAL ESTATE
BRIDGING THE LEADERSHIP SKILLS GAP PAGE 66
110 PAGE SPECIAL EDITION FEATURING
CLAUDIO ENCINA JOSH PHEGAN STEVE CARROLL TOM PANOS NILA SWEENEY JOSH ALTMAN DAMON PEZARO MARK ARMSTRONG
+ THE TOP
50
TIPS FROM TRANSFORM
BEN MUNRO SMITH
FLIP MAGAZINE OVER FOR
How to get what you’re worth
KIM BAMFORD, EVIEW GROUP BAM & CO REAL ESTATE, WA Transform Sales #supersix 2016
Every picture tells a story
DEAN DELANEY COLLIERS INTERNATIONAL TOOWOOMBA “Listing 70 properties for 10 months at seven per month with a sale ratio of 50 out of 70, which equates to one per week over 52 weeks per year, with a GCI for 2017 of $500,000.”
OUTSOURCING PROSPECTING: CAN IT BE DONE? PAGE 64
TECHNOLOGY
#06 JUL/AUG 2015 AU$9.95 + POSTAGE
PREPARING FOR SPRING SELLING SEASON
DON’T LEAVE A DOLLAR ON THE TABLE PAGE 30
#11 JUN/JUL 2016
• HOW ARE THE TRANSFORM SUPER SIX GOING? FOR UPDATES AND COACHING TIPS SEE PAGE 16
LEARN FROM THE BEST
THE GIFT OF LISTENING
“To make a minimum of 50 sales between January and December 2017. Doing that will allow me to visit my family in the USA, MOST celebrate a friend’s 40th PROMISING NEW TALENT in Thailand and hopefully have enough left to catch the last of summer in Europe.” LEARN FROM THE BEST
5 ways to build your profile
CHERIE HUMEL-CLARKE CLARKE & HUMEL, NSW EA Issue 06 – Cover Story
TONY AMINIAN SIMPLE INDUSTRIAL COMMERCIAL “Build a fit database and consistently write a minimum $25,000 CGI per month.”
“By 30 June 2017, I would like to have billed $400,000 in sales, from a consistent four or five sales a month and have a steady 15 to 20 property managements that have grown organically. I will have secured a full-time administrator to look after both PM and Sales. I will have secured a full-time sales rep who is also bringing in three or four sales a month consistently and feeding PM.”
ANNA KHANDHAR HARCOURTS COORPAROO “A steady income of $15,000 net a month; four listings per month.” ALEX OUWENS, REISA PRESIDENT AND DIRECTOR OUWENS CASSERLY, SA EA Issue 12 - Cover Story WILL THE NEW DRONE RULES WORK FOR YOU? PAGE 18
“Improve all of our agents’ market share by 20 per cent and, personally, to enjoy my Dad’s 70th in Europe to a 5-star level!”
HOW TO BEAT CALL RELUCTANCE PAGE 34
THE NEW REAL ESTATE BUSINESS MODEL PAGE 46
LEARN FROM THE BEST #12 AUG/SEP 2016
7
STEPS TO IMPROVING YOUR CONFIDENCE
SURVEY
WHAT HELPS YOU TO EARN MORE
MARKETING
IS THE SOCIAL WORLD GETTING CLOSER TO THE LISTINGS WORLD?
THE NOW GENERATION OUWENS CASSERLY
FLIP MAGAZINE OVER FOR
MARINA PATIYANTS LJ HOOKER CRAIGMORE/ELIZABETH “To get into the multimillion-dollar Captain’s Club by April; for that my partner and I need to settle 13 properties each month. I want to get an award on stage for once at the annual awards night!”
eliteagent.com.au 9
E EDITOR’S LETTER
EVERY YEAR in November, Oprah
Winfrey writes a list of her favourite things, the ‘O list’ in Oprah Magazine. It’s the list of awesome things that she would like to get for Christmas that reflect the simple pleasures in life. On her list this year, I am loving the organic herb growing kits (although they would probably stand no chance in my house), the Bluetooth key finder and the Furry Friend’s gift bucket, even though I don’t have a dog, I wish I did every time I see a pic of someones cute dog on Facebook. (Kerry Holding and Luke McAuliffe I’m looking at both of you!) I’m not Oprah, nor would I ever compare myself to her, but I am inspired by her. And so I give you the ‘S list’ - a list of my favourite things/moments from the rollercoaster ride that has been 2016. Favourite quote – “Play the long game”– Tom Panos. We say this in our office all the time now. What are you doing right now? Does it reflect the short game or the long game? If it’s the short game save time now and just switch lanes. Favourite quick tip – from Sophie Lyon during Transform PM. A way to create a ‘wow’ moment for three bucks. When a prospective investor calls in to enquire about managing their property, casually ask them what sort of coffee they drink as the office is researching coffee
And so I give you the ‘S list’ – a list of my favourite things/moments from the rollercoaster ride that was 2016.
10 ELITE AGENT • DEC 2016 - JAN 2017
habits of the community. Then when you visit them for the listing presentation take them their favourite coffee. Favourite people – everyone involved in both rounds of Transform and our ‘Every Agent’ digital series; the coaches, the participants and sponsors. For the participants, I hope that what they have learned sets them up well for 2017 and beyond. And, a big thanks to the coaches for being there for everyone and sharing valuable knowledge.
Surprising moment – winning Business Magazine of the Year against the big publishers. Still pinching myself. Enough said. Fear conquered (almost) – getting up on stage at AREC for a short moment and ARPM for a much longer moment. I see why some folks enjoy speaking now, I loved sharing some of the things I’ve learned, but it’s pretty scary the first time. Crazy cool moment – when Charles Tarbey picked up my acoustic guitar and started
While on the subject of favourite people I can’t leave out the EA team, and also my husband and my daughter who are the best and will always be my ‘why’. Lightbulb moment – from Josh Phegan when he talked about potential and capacity during [sales] Transform earlier in the year. One of the takeaways for the Transform teams was about hiring a PA, but at that moment we also realised our business had more potential but not enough capacity. Cue office move and a couple of new team members.
playing in the last stage of the Transform PM Amazing Race. He plays crazy good blues. He asked me to play him a song, and I managed to crank out a bad version of Brown Eyed Girl. Embarrassing, but still, I can now say I have jammed with the CEO of C21. Glam moment – at the Eview 10th birthday bash and awards. It doesn’t get more fun than wondering who is ‘behind the mask’. And all the best to Eview for the next ten years, with such an amazing culture it’s easy to
see why the group is growing so fast. Favourite interview – hard to pick this one. Tom Panos, absolutely. Peter Knight from the UK – an incredible thought leader. Josh Altman – star factor so yes, include him. But the interview that really made me smile was with Craig, Darren and Ben, the associate ‘dream team’ who are in this issue on page 48. Coincidentally we met Darren and Ben at the Josh Altman event; they were winners of our competition to meet the Altmans. If these impressive young men represent the future of the industry, it’s a good thing. Funny moment – when Jet Xavier said in [sales] Transform that if it’s the telephone that scares them, they needed to chain themselves to it and call people until they were no longer scared. And then, he offered to chain himself to them as well. We all thought he was joking...but then the looks on the faces of the super six were confused when they realised he was serious.
WOW Moment – putting the VR goggles on at REA and walking the plank between two skyscrapers, which was so real it was scary. Thank goodness for Luke at REA who was kind enough to hold my hand to get across. It made me see why VR is going to be such a big part of our real estate lives in the future. Best Decision – welcoming Lara Scott into the EA team as Digital Editor. Now that the Brief (our e-newsletter) has gone daily the workload around here has increased a fair bit, so it’s great to have a such a talented all-rounder join our team. For those of you that know Lara, I know you’ll agree with that statement… … and well… now let’s just say the ‘S list’ could probably fill a whole magazine - if I were to keep going, but I will hold it there – for now. At the moment, you could be reflecting back on 2016 or looking forward to 2017; hopefully you will find lots of inspiration in this issue of the magazine from our readers, coaches, and our cover agent Sonya Treloar who has also had a fantastic year. Once again, we thank everyone for their support and encouragement. I hope you all get some good time-out over Christmas to spend with your loved ones, and that you have an absolutely brilliant 2017.
eliteagent.com.au 11
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12 ELITE AGENT • DEC 2016-JAN 2017
BIG DATA AND THE FUTURE OF PROSPECTING
THE ANNUAL TECHNOLOGY ISSUE
TOM PANOS
PLAYING THE LONG GAM E
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READER PROFILE
HARD WORK PAYS
for roughly four years. During the last year I worked in real estate part-time, as I was always interested in building relationships with people, communication and helping others achieve their goals. Once I started working part-time I was hooked.
Thom Eriksson-Lake was drawn into real estate from a background in the Public Service and has recently become a qualified auctioneer/agent with Peter Blackshaw in Canberra. Coming from a single-parent family, he learned the value of hard work from his mother’s example and now appreciates the opportunity to build relationships with his clients.
What is the market like in your area like right now? In Canberra we are experiencing a very buoyant seller’s market, with houses in particular attracting large numbers of buyers to inspections. This in turn is driving up sales prices and lowering the average days on market in the suburbs.
Thom, tell us a bit about your role at Peter Blackshaw. How long have you been there? I have been part of the Peter Blackshaw family for over five years as a registered agent and have recently finished studies to become a qualified auctioneer.
I hear old war stories of agents using pay phones at shopping centres to put deals together before mobile phones arrived.
What motivated you to get into real estate? Did you have a career before that? After graduating from college I entered the Public Service, working for the Department of Finance. I enjoyed my time there, working for the Parliamentary liaison section
Who or what inspires you? My mother – to me, being a single mum and raising two young boys whilst working full-time as a nurse in the
Emergency Department is an amazing feat showing dedication, strength and love. What are some of the challenges you have faced in your career and how do you push through them? Rejection is a big part of this profession. It’s hard to hear you have lost a listing; no human being I know enjoys being rejected. I find exercising and or listening to music is a great way of dusting myself off and focusing on the next potential listing. Define success for you? Success to me is demonstrated by the strength of someone’s family and social group,
14 ELITE AGENT • DEC 2016 - JAN 2017
combined with what makes them jump out of bed every day. It doesn’t need to be linked with how much money someone makes on their group certificate; it’s more about how much time and love they get to give to their family and friends, how much someone smiles and the experiences they create in their lifetime – but sure, money helps in achieving all of this! In your briefcase right now is… Wallet, notebook, pens, real estate brochures from the weekend. Is there something or someone that you couldn’t live without? Red wine…. Oh, and family and friends, as well as my two dogs, Doug and Heinz. What is your essential piece of technology or app for agents? Mobile phones – I hear old ‘war stories’ of agents using pay phones at shopping centres to put deals together before mobile phones arrived! Favourite thing about reading Elite Agent Magazine? The depth of information and the variety of topics that the magazine covers. What are your goals or New Year’s resolutions for 2017? To continue to grow my business by building rewarding relationships with clients and to continue to manage a healthy and enjoyable work-life balance with family, friends and my dogs. Do you have any words to live by, or a favourite quote? I’d rather have a life of ‘Oh wells’ than a life of ‘What ifs’. Any advice for someone starting out in real estate? It’s not easy; it’s an emotional rollercoaster! However, the people you meet, the goals you achieve and the way it makes you jump out of bed each day and not talk about that dreaded Monday makes it all worthwhile.
Pimp My
COMPETITION
AUSTRALIA, IT’S TIME TO choose a winner for our window makeover competition. It’s now over to you to vote for who you think should receive the $10,000 VitrineMedia prize.
Shopfront
LJ HOOKER SALISBURY “…2016 marks LJ Hooker Salisbury’s 40th Anniversary of being a local agency in [the area] and this would be the ultimate gift, surprising all our staff with a new modern front window display.”
1.
STOCKDALE & LEGGO EMERALD “…Our office is located next door to a post office and our shopfront is so bad at the moment that we have people come in thinking we're the same building and trying to post their mail! Please help us!!”
2.
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THEO POULOS REAL ESTATE “Our sales department's window hasn’t been updated since the 1980s and isn’t in keeping with the rest of the departments…”
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KS PROPERTY SOLUTIONS “I have just started my business – official open was on 1 September 2016.…I would love this opportunity to showcase my branding and the innovative marketing I pose in my tag line…”
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1
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FIRST NATIONAL GERRINGONG “…The one thing that lets our office down is the front window display. The old flouro lights are half hanging out of the ceiling and the old magnetic displays are starting to fall apart…”
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RAINE&HORNE MOREE “Our proud family shopfront (circa 70s) is needing a facelift! … it's time the old girl had a VitrineMedia Australia injection of light and life. We'd love to turn more heads with both windows shining 24/7!”
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PROFESSIONALS ULTIMATE “Our windows need to get into 2017 in great shape…Our car-park is getting full these days with Mum's and Dad's dropping kids off for dancing practice and we want to dazzle them with a great window display…”
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To cast your vote visit eliteagent.com.au/shopfront
vote now! As a bonus each of the finalists will receive 25% off any VitrineMedia Australia installation they take out if they don’t win (including free freight). Thank you to everyone who entered.
eliteagent.com.au 15
EVERYONE'S TALKING ABOUT… Bateman speaks passionately about the charity that he supports. “The McGrath Foundation’s breast care nurses were started by Jane McGrath, and also Tracy Bevan, way back 11 years ago when Jane first contracted breast cancer. Raising the $380,000 that we did was enough to put one new nurse on [to the program], which was #110 in Liverpool hospital. “[The Foundation], it’s enabled people who have breast cancer to have the care of a nurse in their area, not just from a physical point of view but also from a psychological one,” he continues. This year, Bateman was deservedly recognised twice at the inaugural AREA awards, receiving both the People’s Choice and Judges’ Choice Contribution to Community awards. Says Bateman, “It was a huge surprise, and a great night.” As a town, Mudgee has continued the mission to support the McGrath Foundation. With roughly one in eight women in
LOCAL HERO – HUGH BATEMAN OCTOBER IS TRADITIONALLY breast cancer awareness
month and for the past two years, there has been a spotlight on Mudgee, a regional town in NSW. Last year Hugh Bateman, Director of The Property Shop in Mudgee, went the extra mile embarking on a 2,900km trip around NSW on a pink tractor and raising more than $381,000 for the McGrath Foundation. This year he also lead the town in turning pink for October, raising a further $120,000. IN THE COMPETITIVE industry of real estate it
can be hard to stand out. But Hugh Bateman from The Property Shop, along with the Mudgee community, are great examples of going above and beyond the call of duty in helping to raise $500,000 in two years for the McGrath Foundation. Hugh’s quest began in early 2015 when, after hearing of several friends and clients fighting breast cancer, he decided to do something to help. He bought a tractor at auction in Sydney, took it home to Mudgee and painted it pink, as well as making some other alterations to make his planned journey more comfortable. After coordinating a fundraising function in each town where he was scheduled to
16 ELITE AGENT • DEC 2016 - JAN 2017
stop (with some help from his fellow RER Network members) Bateman set off in the tractor on October 9. His 21-day journey took him to Dubbo, Orange, Griffith, across to Goulburn and then to Wollongong, followed by seven suburbs of Sydney. After that it was up the east coast to places like Long Jetty and Port Stephens, Port Macquarie, Coffs Harbour, then down through the Hunter Valley on the way back home to Mudgee – all at an average speed of 27km/h. “At the time,” says Bateman, “I wanted to raise $250,000; but then it got to a stage where each function I was attending and each night I was out on the road we raised a little bit more money.” And he ended up with a better result than his original goal.
Australia being diagnosed with breast cancer during their lifetime, the Mudgee Chamber of Commerce, supported by the Mid-Western Region Council, coordinated an event this year called ‘Pink up Mudgee’ which has also been a huge success, raising a further $120,000. For his pink tractor journey, Bateman is still the highest individual fundraiser in the McGrath Foundation’s 10-year history.
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ELITE AGENT ONLINE
ICYMI with Digital Editor Lara Scott Elite Agent’s new Digital Editor Lara Scott takes a look back at what you may have missed online in the last few weeks. To stay up to date visit eliteagent.com.au/subscribe. BE AMBITIOUS BUT REASONED WITH YOUR GOALS As a kickstarter to our contributor’s sharing their goals for 2017 (page 9 and EPM page 5), Samantha McLean shared five tips on putting yourself in a position to successfully keep the goals you set. In a nutshell - be focused, be realistic, make it measurable, hold yourself accountable and share them with friend or mentor to help you stay on track. F ive Ways to Achieve Your Goals in 2017. FROM MACCAS TO MILLIONS A disciplined focus on customer service has seen the quick rise of Gavin Rubinstein to
number one agent in Ray White NSW. Since first entering the workforce via McDonald’s, Gavin’s secret to generating business from buyers is to remain focussed on servicing his vendors. “Any buyer who is savvy will see the work and loyalty you put in with your vendor. The buyers who become your next clients – or recommend you to their friends – walk away from the experience thinking ‘there’s no other person to use’,” he said. H ard Work, Hustle, Discipline: Gavin Rubinstein
THE BIGGEST TWO-HORSE RACE With the unexpected (for some) outcome of the US election and the Trump ascendency; the knock-on effect on the global and local real estate markets was a hot topic. Two pieces both by property research experts (Mathew Tiller, Head of Research, LJ Hooker and Tim Lawless, National Research Director, CoreLogic) highlighted similar points and the call for a wait and see approach. • Uncertainty creates volatility – flight to asset classes that are viewed as safe havens • Uncertainty may push demand higher for bricks and mortar but it may also simply cause investors to simply sit on their cash in a wait and see approach • Potential for a lower Australian dollar is a positive outcome for exporters and tourism, but the benefits of a lower dollar may be balanced by a dissipation in downwards pressure on interest rates and potentially some upwards pressure sooner than expected if consumer prices start to rise pushing inflation higher. • Negative implications for our largest trading partner (China) – but could be a positive if the Chinese stimulus response increases demand for Aussie resources. H ow the US election will affect the property market: LJ Hooker T rump: There is Nothing Certain But the Uncertain – Tim Lawless SOLAR JUST GOT SEXIER THANKS TO ELON MUSK Tesla is known for transforming the electric car market, but
the company has turned its attention to another market: solar panels. Australia currently generates 2.5 percent of its electricity needs through
on Daydream, Google’s high quality, mobile virtual reality platform REA are hedging their bets on the wider consumer adoption of VR. It will be
solar, but that number may soon change thanks to Tesla’s innovations. Find out what you need to know when buyers and sellers start to ask about it. 5 reasons your clients could be excited by the Tesla Solar Roof
interesting to see how many VR headsets are on your customers’ Christmas lists this year. REALABS is a purposebuilt invention space designed to create, trial and bring to life the newest technologies for consumers to experience property. Think there will be some cool innovations coming out of there in 2017.
Image courtesy of Tesla
INSTAGRAM FOR AGENTS: HERE ARE FIVE QUICK WINS • Showcase “Behind the Scenes” and OFI activity • Create an auction day timelapse • Create photo maps and geo tag images • Create preview and property videos (60 seconds) • Own your personal brand show who you are and your local area expertise - “Just stopped in for a coffee with [Mr Smith] at [coffee shop], the best cafe in [your town]” I nstagram 101 Guide: Tips and Strategies for Real Estate TWO TECH ANNOUNCEMENTS FROM REALESTATE.COM.AU on their move further into the VR space and the creation of REALABs. With the launch of their realestate VR app
For the extended read of these articles and more visit elitegagent.com.au/catchup 18 ELITE AGENT • DEC 2016 - JAN 2017
VIDEO OF THE WEEK is proving a hot contender in the favourite content category, especially good if you are looking for inspiration for your next blockbuster. All of these videos made the most viewed list in the week they were posted.
Toowoomba being revitalised with changing of the guard - set to a wicked beat this unique-tothe-area property is using video to capitalise on what appeals to the changing demographic of the area. Playboy mansion post-sale marketing - a bit of a ‘unicorn’ property listing and sale that poses the question - so what does US$100 million buy you the voyeur in all of us is dying to find out. One of Sydney’s Finest showcases incredible drone photography to visualise the scale and scope of the property. Near The Myrtle Tree on Horton - clever use of the vendor’s property story about the house and the great local community.
ACTIONABLE VIDEO TIPS AMP UP YOUR SMARTPHONE AUDIO Everyone has a smartphone, and they provide excellent video quality, but the most common problems I see when agents video themselves using their smartphone or tablet is simply awful audio quality. Most viewers will tolerate poor video quality, but poor sound can turn the audience away very quickly. The microphone on your smartphone is designed for recording audio up to about half a metre away. It’s no surprise then that when you record yourself a couple of metres away from your phone, it sounds like you are at the far end of a very distant, noisy tunnel. The simple solution is to use a lapel microphone plugged into your smartphone. You just clip it onto your shirt, about 15 to 20 centimetres away from your mouth, and plug it into the earphone jack on your phone or tablet. You need a lapel microphone with a TRRS
Do you have a video that should be recognised for its content or creativity? Email us newsroom@eliteagent.com.au.
LARA SCOTT
Watch more TV DON’T FORGET OVER the holidays you can catch up some of our video content you may have missed. All of the coaching sessions from Sales Transform, PM Transform, Every Agent has a Story, plus highlights of our CoreLogic/Big Data prospecting round table are all now online now. Visit eliteagent.tv for more.
12 CPD POINTS* FOR NSW AGENTS ONLINE AND READY WHEN YOU ARE FROM JUST $89
connection for use with most late-model smartphones and tablets. Ideally, you should get one two to four metres long, so you can stand back far enough while recording. At around $40, the UK-made Microconics lapel mics from Busivid.com work well with iPhones, iPads and most Android devices.
If you want to use a second lapel microphone to grab a customer testimonial or interview, Rode Microphones Australia sell an SC6 adapter that lets you simultaneously plug in two mics and some earbuds, so you can record two people and check audio quality between takes. The Wind can also be an issue when filming outside. The solution is to use a ‘dead cat’ fluffy cover that slips over your lapel mic. This stops the wind from buffeting the microphone when you are recording out front of a property on a windy day. For more information and tips visit busivid.com/elite.
MYREALESTATECPD.COM.AU (02) 8231 6669 * CPD Points are approved by RTO 41529 BPG Pty Ltd
eliteagent.com.au 19
Q&A ASK THE COACH – Claudio Encina Top real estate coach Claudio Encina is back to answer more questions, this time on trends heading into 2017, tips for growth and the right mindset for prospecting.
Q.
What trends do you see in our industry heading into 2017? Ian Qui, Morton Real Estate Pyrmont There are a few emerging trends as we head into the new year, but the biggest trend I’m seeing is around social media presence. We live in a digital age; research shows we spend about 51 per cent of our time on our mobile phone (Forrester Data-US Company). We’re checking emails, texting and scrolling social media. Our phone has become the remote control of our lives. Currently, most agents are still trying to figure out how to
end for your customer. By creating a theme each week for your posts, the content will become automatic. For example, if your theme was about schools in your local community you could do a post on different schools in the area by doing a review, interviewing a school principal and mentioning any school fetes coming up. Another question I get asked is ‘How many times a week should I post?’ My answer is one post daily. Many people may not comment or like your post, but they are watching you, so don’t be afraid to get noticed.
use social media effectively. You can get started by setting up a Facebook Business Page. This is the number one platform for social media. Through your business page, you can then create Facebook Ads to reach your targeted audience. Elite Agent’s own Samantha McLean recently released a video demonstrating how to target the right audience using data from CoreLogic and Quantium. It’s definitely worth a watch. Another tip is don’t simply post ‘Just Sold’ or ‘Just Listed’ updates. Think about the value
Q.
How can I grow my business in 2017? Giorgio Koula, Sotheby’s International As we head into the new year, now is an excellent time to review your business. Start by analysing your 2016 results. Where did your business come from in the last year? Understand that you are running a business and it’s vital you know the cost per lead. Work out how many leads came from letterbox drops, media advertising, open homes, social media, and so on. Once you break down your business in
20 ELITE AGENT • DEC 2016 - JAN 2017
Don’t simply post ‘Just Sold’ or ‘Just Listed’ updates. Think about the value end for your customer. this way you might start to see where the breakthroughs lie; you will identify the strengths and weaknesses. I recently had a client who was investing over $10,000 a year on letterbox drops to receive only 10 market appraisals in one year, versus Facebook ads that had generated 27 leads with a spend of $3,000 for the year.
Once you analyse your business, you will be creating the breakthroughs necessary to increase your overall GCI.
Q.
Prospecting is a ‘dirty word’ – what can I do to change my mindset around it? Andrew Burns, McGrath Hornsby Start by seeing prospecting as fun. Think of it as going into your Zone of Genius where you reach into your potential, ability, talent and creativeness. Here are some tips to make prospecting more enjoyable. 1. Do something fun before
you get started. Being in a great state of mind is key if you want to perform at a high level. Play awesome music that will uplift you, grab a coffee (or a green drink), listen to something inspirational on a podcast; whatever will get you in a motivated state. 2. Connect with the end result and how you will feel after you have made the calls. It always feels good when you take quality action; action that produces a result. Visualise booking those market appraisals before you pick up the phone or go on that doorknock. 3. Celebrate every call. No matter if it’s a good call or a not so good call, after you speak to someone do a little dance to celebrate doing it! 4. Connect with the person and have a laugh with them. Imagine they are your best friend and have fun when you talk to them. Think about the why behind the call and add lots of value. Smile when you’re on the phone as it does come through in your tone of voice. Changing your mindset starts with being in a peak state to make the calls while seeing prospecting in a different, more lighthearted way.
To have your question answered email askthecoach@eliteagent. com.au. To connect with Claudio visit claudioencina.com.
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FIRST PERSON
Josh Phegan
What do they really need?
IN THE DIGITAL AGE, showing that we’re human is more
important than ever. High performance real estate coach and trainer Josh Phegan highlights how great agents create a unique bond with their customers and why personalised service wins.
We live in a remarkable time. While the industrial revolution gave birth to huge factories and complex machines manufacturing on scale, the information revolution has opened up the playing field. Today, you don’t need to own the factory to sell the product, you don’t need to control the press to be heard and you don’t need a real estate agent to sell your house. Or do you? I believe there will always be room for a premium service in any market and I welcome the competition. Disruption is a term that has been bandied around over the past few years, but what it really means for real estate agents is a need to get clear about the level of personalised service they are offering to their customers. Think of it this way. If you bought a shirt from the Reject Shop and another from Louis Vuitton, what do you think the difference in customer service would be? At one you might have to rummage through boxes or shelves yourself to find what you’re after. If they have your size you won’t be able to try it on because there are no change rooms and the only interaction with the staff will be at the
counter, where it’s likely a junior staffer will give you a plastic bag with your shirt inside. At the other, you will be enthusiastically greeted at the door and invited to the change room by your personal
salesperson with a selection of shirts just your size. The lighting is just right and the experience makes you feel special. Your new shirt is carefully packaged and you walk away feeling uplifted.
If you bought a shirt from the Reject Shop and another from Louis Vuitton, what do you think the difference in customer service would be?
22 ELITE AGENT • DEC 2016 - JAN 2017
A few days later you might get a call from the store asking if everything is going okay with your new shirt. So what level of personalised service are you providing to your clients? As agents, we deal with complex human emotions during different and important stages of people’s lives and help them in making decisions. Whether it’s purchasing their first home, upgrading as the family grows, downsizing as they grow older or helping them with investment opportunities, the relationships agents have with buyers and sellers are a unique bond. Digital services are changing almost every industry. The way new technology is simplifying transactions and processes has and will continue to affect the way we work. But that doesn’t mean we need to reinvent the wheel. There is an opportunity to get back to the core of what makes real estate agents great and have a laser focus on the customer and their needs. We can reduce the friction of process, ensure there is transparency and do what it takes to keep responses and communication nimble and agile. Of course we need to harness new technology and ride the digital wave, but on the back of our core strength of connecting with the customer and managing human relationships. The most successful people I know don’t spend their days sitting in an office in front of a computer; they spend it face to face with the customer and on the phone. That’s where the deals happen.
Josh Phegan is a high performance real estate speaker, trainer and coach to some of the best agents and agencies around the world. For more information visit joshphegan.com.au.
FIRST PERSON
Tom Panos
10 questions you need to ask yourself BECAUSE WE LIVE in a society that works in time compartments,
twice a year in January and June we get to rewrite our agreement with reality. But if you wanted to, you could do so every day to keep yourself accountable. Here is a list of my favourite self-coaching questions that you can use to uncover areas that may not be working in your life.
1
What are you doing that people believe only you can do? This question is crucial because it creates separation between you and the competition. It’s the reason Donald Trump won the US election. Even though the whole world said he was going to lose, he believed in himself, and he backed himself. That’s a big lesson for real estate agents not to worry about what others think so much.
2
What do people say when they talk about you? You win business by what others are saying about you, not by what you’re saying about you. You may see yourself as being empathetic and a good listener. Other people may be saying ‘he never shuts his mouth, he doesn’t listen’. That gives you feedback about where you are at, versus where you think you’re at.
3
If you had all the money and resources you needed and you could
spend your life any way you chose – what would you do? So many times people create a path in their life, not of what they want to do but what they think they have to do. When you take away the barrier of money and give yourself a blank canvas, pick something that you would love to be doing. Sometimes, when your intention is not to make money, if you love what you are doing, the result is you make money. On that note, you should spend the next 12 months doing things that you’re really good at, and that you like. Which means, work your strengths and outsource your weaknesses.
4
What are you afraid of? “What you resist will persist, and what you befriend you’ll transcend.” When you work out what you’re afraid of, and you’re clear about it, you can address it. By facing your fears, they no longer control you. You may not believe this, but at uni my fear was public speaking. I faced my fear and obviously it’s a big part of who I am now.
5
Who are you trying to change? Change is hard. Think about how hard it is to make a change yourself and then think
24 ELITE AGENT • DEC 2016 - JAN 2017
out, ‘What do I want to be saying in the last hour of my life? What do I want others to be saying about me? Do I want to feel like I’ve lived a lie, or feel that I’ve played big?’ Don’t leave it to your last day, your last hour to take that action.
8
Would people miss the things you do if you stopped doing them? What things are you doing out of habit, and what you do out of intent? Ask yourself, ‘If I was starting from scratch today, would I have this procedure or practice in my business?’ If the answer is no, then change it.
Work your strengths – and outsource your weaknesses.
9
What do you stand for? In this busy, destructive world where people have a total addiction to distraction, you need to be clearly able to tell another human, ‘This is who I am, this is what I do, this is what I stand for,’ so people in an instant can work out what you are about. Trade in perfect and fake for real. what is the likelihood that you’ll change someone else? Work on yourself first, rather than others.
6
What is missing from your life right now? If you only had 30 days to fix something, what would you do? The answer will tell you what you need to work on for the coming year.
7
You are 90 years old looking back at your life. What would you have liked to have achieved to consider your life to be fulfilling? This is reverse engineering working backwards and figuring
10
What contributions are you making? What impact are you making on your industry, on your family, on your community, and on your friends; because at the end of the day, that’s how you will be remembered. And one last thing. Change is going to be difficult before it’s easy. And once you start, don’t go off track - it’s easier to stay in momentum than to get into momentum.
Tom Panos is one of the leading Real Estate coaches in Australia and New Zealand. For more information visit tompanos.com.au.
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FIRST PERSON
Julie Davis and Neil Williams
Let go to grow
ONE OF THE MOST COMMONLY HEARD TERMS in this industry is
‘taking your business to the next level’. To some this may mean opening another office or buying another rent roll. To others it may be putting on a business development manager, a PA or investing in technology or equipment. But you need to make sure you are making the right decision for the right reasons.
In our experience, one of the most common pathways for growth is by adding more people to the team. Team growth makes sense to most of us because it allows us to leverage the skills and labour component of others. However, irrespective of whether we have a large office or a BDU, we should first validate that we actually need to add another team member. Team growth needs to occur when we have identified a shortage of skills that are lacking in the team, or we want to allocate some of our current tasks to free up time for ourselves and others to devote to functions that add more value. Every team member needs to have a specific role, with specific levels of responsibility and accountability commensurate with the requirements of the position and the needs of the business. When deciding whether to recruit more people we need to validate against specific measurable criteria to determine whether we actually ‘need’ more people, or if we can achieve the growth through more efficient systems. The first step is to identify whether there is currently a particular skill or level of experience that is missing and required for future growth. If
the answer is yes, we need to assess whether an existing team member can be either trained or developed to carry out the function. Often the solution is already within our existing team and there is no requirement to add another fifty or sixty thousand dollars to the payroll. Adding more people to roles that are not clearly defined
is expensive in both time and money, and can often result in messy endings. So many of our team members already have the skills and motivation to be able to add value, but are not being used because of our resistance to thinking laterally. If they are already part of our culture; we simply need to assess their capability and capacity for self-growth.
You will never go to the next level if you are continually going back down the ladder to tell the team what to do.
26 ELITE AGENT • DEC 2016 - JAN 2017
If there is a need to add to the team, then get really clear on the roles and requirements of the position. Assess every candidate against a selection criteria and make the recruitment process both rigorous and defined. It is astonishing to those outside our industry that we continue to recruit based on reputation, often involving far too little scrutiny of past performance and validation of skill level. Ensure that your business, however big or small, has processes with indicators and triggers so that each requirement for the next phase of growth has checks and balances in place to mitigate the chances of making poor and expensive decisions. The number one inhibitor to growth is our resistance and inability to let go and entrust tasks and decision-making to others. Surround yourself with the right people and have faith that your standards and systems will support you. A lot of us resist delegating because we think that no one can do a job as well as we can. This is smallbusiness thinking and will stop business growth in its tracks. You will never go to the next level if you are continually going back down the ladder to tell the team what to do. Select the most suitable candidates, both internally and externally, against a criteria, train and support them and then let them fly. Yes, there is an element of risk involved but micro-managing people into early retirement is not a good business plan.
Julie Davis is one of the country’s top female real estate coaches. Neil Williams is a qualified coach, trainer, licensed real estate agent and workplace assessor. Together they use their skills to assist individuals and teams create their optimal business development pathway. For more information visit agentdynamics.com.au.
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FIRST PERSON
Charles Tarbey
Short-term wins, long-term success
SINCE THE EARLY DAYS of his career, Charles Tarbey says he has
sought to abandon goal setting in the traditional sense, as it is too easy to fall victim to an all-or-nothing set of achievements. Instead, he says, you should consider 2017 as the time for creating a workspace that you enjoy, and approach your goals with a new, flexible outlook. As we enter the New Year and plan out the months to come, I believe a more malleable attitude toward your annual strategies is best, as it allows you to adapt to changing circumstances throughout the year. I strongly believe that the key to achieving goals on a personal, business or even brand level is to create goals that are flexible enough to be achievable in the short term, while aspirational enough to build up long-term momentum that is both motivating and positive for you and your business. Here are five tips that may help you in developing your goals for 2017.
1
Break down your goals Goal setting can be intimidating as you set
the bar high for what you and your business can achieve. Some business objectives can be likened to scaling Everest – whilst they may be easy to devise and plan out on paper, putting them into action can seem like a mammoth effort. Then, if there is a lack of consistent achievement, feelings of failure can develop and create dark clouds over you and your company. To overcome this, I challenge you to break down major goals into simpler, short-term objectives. This way large goals can look more feasible and feelings of motivation will stem from regular wins. This year, one of Century 21’s dominant goals was to introduce ‘The New Century 21’ and give our brand identity a revitalised appearance in the Australian real
Some business objectives can be likened to scaling Everest – whilst they may be easy to devise and plan out on paper, putting them into action can seem like a mammoth effort. 28 ELITE AGENT • DEC 2016 - JAN 2017
3
Create a consistent platform for goal setting Before charging ahead at goals, start with the basics and ensure strong foundations are laid in order for your team to work towards their objectives. All members of your team should be equipped with the power to learn, develop and maximise their capabilities through these platforms. Established training programs have long been a priority within the Century 21 network and are viewed as a key component in achieving personal and business objectives. Offering opportunities to develop fundamental skills is an investment in ambitious agents. The confidence that results creates a team driven to make the most of all opportunities, regardless of market conditions.
4 estate market. We attempted to make this broad objective more achievable by breaking it down into five targeted categories – which included developing a new lead generation system, doing a rebrand of marketing collateral, commissioning a new and exciting range of corporate apparel, developing a new agent training platform and further enhancing our network’s access to international real estate markets.
2
Make your goals flexible Some businesses set their goals in concrete; when the slightest problem or hurdle appears, the things that have been worked for can slowly fade into the background as a result. Markets change and so do circumstances, so businesses must be willing to adapt their objectives to these dynamics. Goal setting can become more beneficial by accounting for surroundings and possible changes in circumstance.
Revitalise your weekly meetings One of the Century 21’s Five Laws involves conducting a ‘weekly action meeting’ – but not in the traditional sense of a sales meeting. Consider planning your meeting agenda to address short-term objectives that are specific to each part of your business. This could involve actions specifically targeted to sellers, buyers, potential sellers and general marketing objectives.
5
Demonstrate consistency to your clients Placing an emphasis on consistency within your business and determining your goals in line with this value will likely have positive flow-on effects on your dealings with clients. By setting and achieving short-term objectives, you or your business may as a result garner a positive reputation as a consistent performer – and this will likely lead to new opportunities for the future.
Charles Tarbey is the Owner and CEO of Century 21 Australasia.
FIRST PERSON
Cameron Nicholls
The ‘Hit and Stick’ Philosophy
THE TERM ‘HIT AND STICK’ WAS COINED BY ISAAC NEWTON to
describe the momentum theory, whereby objects collide and stick together. It is used in rugby as well. In real estate, however, it could apply to a committed approach to client service – upon initial contact we stick with them, as Cameron Nicholls explains.
With a sporting background, I have drawn on my knowledge and association with rugby league to best describe my real estate business philosophy. In football, the term ‘hit and stick’ refers to a tackle; the hit being the initial contact and the stick being the follow-through and completion. With every person I meet, I aim to create a client for life – although I prefer to call them ‘connections for life’. It is a long-term approach that involves servicing someone from the initial point of contact, with no end point to that service. When I meet a buyer and find out what they are searching for, I stick with them until I find exactly that. But the service does not stop there. I continue to connect with that client continuously as people’s property needs are forever changing and evolving. I have sold a property to a buyer as long as 18 months after the initial enquiry.
CREATE CONNECTION AND STICK WITH BUYERS More often than not, real estate agents will say, ‘When something comes up I’ll let you know’ and they don’t follow through. My approach sees us ‘stick’ with our buyers to ensure
Some real estate agents will say, ‘When something comes up I’ll let you know’ and they don’t follow through.
their goals are achieved. For some this may take as little as one month; for others it may take years. Real estate is cyclical: buyers become vendors and vendors become
30 ELITE AGENT • DEC 2016 - JAN 2017
buyers, hence the importance of continuous service and why I believe my philosophy is the way forward. I believe in real estate there is always a flow-on effect.
Take one of our recent sales in Drummoyne, for example – a luxury waterfront apartment with Sydney Harbour views that achieved a sale price of $2.9 million. I sold a different property to this vendor back in 2015, but continued to nurture the relationship beyond that transaction and 18 months down the track they appointed me to sell their Drummoyne apartment off the market as an open listing with three other agents. All agents brought their buyers through the property and competition was high. I had been working with a buyer for over 12 months and knew this property would suit them perfectly – and it did. Due to the non-exclusive nature of the listing, I had to execute a swift sale and encourage the buyer to move quickly on the purchase. They were more than happy to do so, being largely influenced by my long-term commitment and relationship with them. This is a classic case of my ‘hit and stick’ philosophy applied to both the vendor and buyer in this transaction.
ALWAYS THINK BEYOND THE TRANSACTION Let’s take a look at another recent sale, this time in Breakfast Point – a landmark waterfront penthouse, which also coincidently sold for $2.9 million. I first met the vendors seven years ago while I was working at a different agency as a property manager. In true ‘hit and stick’ style, I nurtured the relationship well beyond the realms of your standard managing agent. Seven years down the track, after opening my own real estate office, the vendors sought me out to sell the property, despite still having a professional relationship with the previous agency that had been managing the property that entire time. Again, I identified a buyer for this property immediately and
Agents need to be out there actively servicing buyers well beyond the point of purchase.
Cameron’s top tips to ‘Hit and Stick’ include: Don’t be afraid to suggest other agents’ listings
knew before they inspected it was going to be exactly what they were after. The vendors were after a premium price and the reluctant buyer went from an initial offer of $2.5 million to $2.9 million, due to the rapport and trust at the foundation of their relationship with me. I had worked closely with this buyer for nine months, showing them several properties in this time and advising them of many more. There was nothing they could fault with this property and, while their purchasing plan was to secure something between now and 2018, they knew this was the one and were
ultimately prepared to pay the asking price; a win-win for both the vendor and purchaser. During buoyant markets, agents can be guilty of quickly forgetting many of the buyers they meet. Customer service is at the absolute centre of our industry and, as we move into a market where properties no longer sell themselves, agents need to be out there actively servicing buyers well beyond the point of purchase.
Cameron Nicholls is Director of Nicholls & Co Estate Agents – a vibrant new boutique agency in Abbotsford, Sydney.
and even offer to have a look on their behalf
Know your client’s preferred method of communication
Remember that each property they don’t like takes you a step closer to the one they do
Even if there is no new listing to report, still touch base to let them know you are thinking about them and have them on your radar
Invest in high quality stationery to deliver personalised messages; the effect of email has worn off and receiving a personalised note has more impact
It’s a marathon, not a sprint – be prepared to look at it as a 12-month commitment at minimum
Constantly update and refine the requirements using whatever database you use.
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eliteagent.com.au 31
Mindset Corner Jet Xavier
10 things new agents need to know If you are just getting started in real estate, or want to know how to step further up the ladder, Jet Xavier’s 10-step plan will help you to find your focus in 2017.
H
ow do I create a platform for success as an agent? This is a question I get asked constantly by people new to the industry. Here is a comprehensive 10-step plan of what I advise to help new agents create successful businesses.
1. BUILD RESILIENCE FAST Most agents are good with people, but quickly find out it’s only a small prerequisite for success. The real challenge is learning how to handle constant rejection, setbacks, let-downs and things you cannot control. Getting good at dealing with these things is often half the battle. 2. HEAD IN THE GAME The battle is not won in getting the listing and sale only. The battle is won in the mind. Selfdoubt, negative thinking and emotional mismanagement are the biggest things to overcome. Learn how to be positive, patient, motivated, constructive and solutionfocused to assist you in staying energised and inspired. 3. DON’T RUSH THE RIVER Like in any business, it takes time to build a momentum and a solid platform for success. Too many agents expect things to happen in the first six months, but in reality for most it takes a good three years of total commitment to build a good business.
As Tom Panos says, don’t judge your first chapter on somebody else’s 12th chapter! Set short, realistic expectations of growth - be patient, keep focused, stay on the path and don’t look up for three years.
area results and information. Then build from there. Also be present and immerse yourself in the local area, connect with other business owners and get involved in building strong networks.
4. GO TO THE HEAT The quickest way to get initial traction is to get your own listing and work it. You can, however, accelerate your growth by hot-spotting around other listings. As soon as a listing comes on, get around it with calls, knocks, letters, promotions. You never touch the other agent’s listing – that’s a no-no – but any listing on the market generates interest in the area around it so you want to be there as an option. Be on the spot and hustle.
7. FIND A COACH AND MENTOR Get a coach or mentor who will keep you accountable and push you to stay disciplined, dollar productive and consistent. In the recent Elite Agent “What Really Helps You Earn More”
5. YOUR PHONE IS YOUR BFF Connection is king for success in real estate. Work hard to build a solid database fast and become a connection master. Working with buyers helps this happen quickly. The person who makes the most connects wins, so get used to being on the phone or in conversation and work your way up to 50 calls a day minimum. 6. LEVERAGE SOCIAL MEDIA AND ENGAGE THE COMMUNITY Use social media to create a profile in your area. Join your local community Facebook group(s) and add to the conversations, property and otherwise. Become the group’s go-to for
32 ELITE AGENT • DEC 2016 - JAN 2017
What new agents forget is they have bought a business.
survey, results showed agents who have a coach generate about 50 per cent more GCI than those who don’t.
8. TREAT IT LIKE A BUSINESS, NOT A JOB What new agents forget is they have bought a business. So you need to treat it like it’s a business, not a job, and invest in it straightaway with marketing, training, systems and promotion. 9. BECOME AN AWESOME LISTER If you don’t have something to sell, it is hard to make a sale, so become an expert lister. Practise your listing presentation; get around the best listers in your company and learn from them. Spend the time to become an expert listing machine. Make it a priority. 10. ENJOY THE RIDE Too many new agents take it all too seriously and end up stressed, burnt out and jaded. Enjoy the ride and the experiences you will have. Remember, it is only a means to an end. Don’t sweat the small stuff and have fun along the way. Jet Xavier is one of Australia’s leading mindset coaches for real estate sales professionals. Jet is an accredited EDISC human behaviour consultant, NLP practitioner, performance coach and motivational speaker. For more information visit jetxavier.com.
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Data Insights Eddie Cetin
Making every prospect count It’s a Saturday afternoon. You’re driving down a local street, which brings back memories of properties sold over the years. You suddenly screech to a halt: a competitor’s seriously large ‘For Sale’ sign has appeared outside a property you only appraised six months ago. You are mortified. How did this happen?
E
very agent has experienced one of those gut-wrenching moments. And whilst it stings to lose a listing, the agent whose board now graces the front of the property had a far more efficient marketing machine than you. They grew a relationship with the vendor in a way which you didn’t. Several Australian markets are light with listings, meaning every appraisal matters more than ever. Your success as an agent is based on your ability to nurture and build relationships with as many people as possible as efficiently as possible. The right CRM is key to you achieving success as opportunities to list become fewer; it’s your marketing machine. So what does this CRM-fuelled
Your success as an agent is based on your ability to nurture and build relationships as efficiently as possible. real estate marketing machine look like? Just like your car, it reflects your commitment to professionalism. You’d be unlikely to turn up to a listing presentation in a rusting Toyota Corolla, just as you would be unlikely to prospect from a clunky, outdated CRM which limits your opportunities to influence clients. Many agents take pride in their cars – this same pride applied to their CRM marketing machine makes all the difference as shown in the table below.
Cars versus CRM Car
Database
Looks sleek and professional Efficient to run and maintain
Emails templates, vendor reports and brochures.
Safety first
Staff are given access to details relevant to their role. Interface is fast, information is found quickly. It’s easy to send emails, SMS and letters – it’s also mobile. You can access your CRM anywhere, anytime with fast support for technical issues. Few portal feeding problems. Complete, accurate data including assets and emails. No duplicate contacts or properties.
Performance
Reliability
Fuel
Enter data once, see your listings and contacts on a map.
34 ELITE AGENT • DEC 2016 - JAN 2017
What does your marketing machine look like? Is it a finely tuned machine, or is it ready for a service or upgrade? No matter your CRM, creating a revenueproducing marketing machine depends on how you build it, use it and fuel it.
5 WAYS TO CREATE YOUR OWN MARKETING MACHINE 1. Clean up your data (For extra help, download Agentbox’s Data Detox checklist, visit agentbox. com.au/detox/) • Contact data: Check emails, phone numbers and appropriate categories for buyers, prospective vendors and past clients. Merge any duplicates and purge incomplete or old records • Appraisal data: Archive old or lost appraisals • CRM education: Ensure your team understand contact categories, contact ownership and email communication. 2. Master your lists • Buyer pipeline for each listing - hot, warm, cold • Prospective vendor pipeline hot, warm, cold • Anniversaries for past clients.
3. Targeted prospecting strategy • List the top 20 streets you want to ‘own’ in your area • Track your progress capturing contact and property data for this zone • Send regular helpful and informative letters and emails. 4. Email marketing strategy • Segment your database into your key categories • Detail each category’s problems and your solutions • Create an email marketing sequence for each category, including a message and appropriate timeframe. 5. SMS strategy • Keep buyers updated • Pre-marketing campaigns • Auction campaigns. Once you have your very own marketing machine humming, you should enjoy multiple benefits, from increased competition for your listings to a reputation as the most progressive and helpful agent in your market. By providing a higher level of service to more clients, prospective vendors will come to you when they’re ready to sell. You’ll be winning more of the listings you want at a commission that reflects your expertise – which means driving, ashen-faced, past lost listings will be a thing of the past.
Eddie Cetin is the founder of Agentbox. For more information visit agentbox.com.au.
It was a Wednesday morning. We had a pitch to a large developer at 3pm. As office manager I’d chosen the presentation binders with help from my Officeworks Business Specialist, and was almost finished binding all 20 of them, when my boss had a brain wave. He decided we were going to put the presentation onto USBs instead. Needless to say, 20 USBs were NOT lying around in my stationery cupboard. But I was all over it. I jumped online, placed the order and hit send. I was early enough to make same-day delivery and the clients walked away with the presentation in their pockets.
Get all over it. Visit officeworks.com.au/business-solutions
Printed for 30/11/2016. OWO2339
Business Depot John Knight
Why your business is worth squat If you are looking to sell your business, we all believe the real value is in the rent roll. John Knight says it is time we challenged this notion to create sales businesses that are actually worth something too.
I
am often asked ‘What is my business worth?’ The reality is that most sales businesses are worth squat; rarely do you see one sell for a material sum of money. That said, there are exceptions. Often the rule of thumb to value a sales business is one year’s profit, but this fails to take into account matters specific to the business. When we value businesses, whether in the real estate industry or not, the key drivers of value are: 1. Future earnings (as a substitute for future cash flows) 2. Risks (any risks that the earnings will not continue into the future) 3. Opportunities (the opportunity for earnings to improve into the future).
FUTURE EARNINGS The starting point with any valuation is to work out what profit the business is predicted to make year in, year out into the future. To work out your estimated future earnings, we start by looking at past results. Adjustments need to be made to come up with a more reliable estimate. These adjustments will include for structural changes in the business, abnormal items and costs associated with financing the business, such as interest on loans. Some of the more common adjustments are around sales team members who have come and gone, and the impact it has on earnings. You also need to allow an amount for the commercial remuneration for principals; for example, if you are not taking a commission
THE TOP 10 FACTORS THAT WILL MEAN YOUR SALES BUSINESS IS WORTH MORE THAN OTHERS 1. Bigger team 2. Limited reliance on key individuals or teams 3. Solid systems and procedures 4. Great brand presence 5. Great operations support 6. Great team culture 7. Leads generated by the office more than the individual salesperson 8. Key parties locked in – shadow equity agreements could help 9. Functional management team in place 10. A succession strategy that started a long time ago
36 ELITE AGENT • DEC 2016 - JAN 2017
on your sales you need to allow for one. You should allow too for roles like management and bookkeeping that would need to be replaced if you no longer worked in the business.
RISKS There are many reasons why the business may not continue to derive the estimated future earnings after it is sold to a new owner. The biggest risk, though, is that salespeople will leave and deplete the current earnings figure so much that it is difficult to put much value on the sales business at all; this is why your sales business is usually worth squat. Review the breakdown of your sales by person to see who the business is reliant on. Are there a few key people that derive the bulk of the sales? You need to reduce this risk. Is the business reliant on the principal? Does the principal sell? If so, when the principal leaves there is a massive risk that the business will not be able to continue earning the same amount in the future. This position is exacerbated if the business is named after the outgoing principal. Joe Bloe Real Estate without Joe Bloe can be a real problem from a branding and marketing perspective. PRICE VS VALUE Price and value are two different things. One person may see more value in your business than another person
Joe Bloe Real Estate without Joe Bloe can be a real problem from a branding and marketing perspective. because it is beneficial for them – for example, if the acquisition takes out a competitor, gives them scale quickly or provides access to new markets. Sales to existing team members undoubtedly generate a higher price than sales to an external party. The reason for this is simple – less risk of losing that team member and disrupting the team dynamics means there is a better chance the value will transfer. Your business may be worth squat now, but there are things you can do to improve your position. The more you think like a business, the more value you will create.
John Knight is the Managing Director of businessDEPOT, a team of energetic accountants and advisors. For more information visit businessdepot.com.au.
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Wellness Tom Sullivan
Breathe in From the very first moment we come into existence on this earth until our last, our breath is with us the whole way. The quality of those breaths can determine how our physical and mental wellbeing plays out in all those moments in between. Tom Sullivan outlines some simple, easy to follow exercises to make sure you enjoy the amazing health benefits of taking a good deep breath.
B
reath plays a pivotal role in your overall health and wellbeing inside your body. It performs many basic functions to enable your system to survive and thrive. When we suffer from issues such as stress, anxiety or poor posture, our breathing suffers. Without a deep, steady flow of oxygen into the body, our basic functions begin to perform at sub-par levels and invite imbalance in your physical and mental wellbeing. Ancient Eastern breathing techniques have been passed down through the centuries and slowly made their way to the Western world through various yoga teachings. Entire books have been written on the benefits of correct breathing and techniques to make sure that you are ‘breathing in’ optimal health. The following are a few short exercises that I teach and use for their calming effects and, most importantly, their simplicity.
the amount of oxygen you can bring in with just the top part of the chest engaging. Second, breathe only into the middle section of the chest, focusing on expanding the ribs up and out to draw oxygen into the body. The final section is the stomach. Draw a long deep breath just using your stomach, feeling the muscles drawing down and out. Picture your stomach as a balloon slowly and steadily
Without a deep, steady flow of oxygen into the body, our basic functions begin to perform at sub-par levels.
THE COMPLETE BREATH To begin with the complete breath, we break the technique into parts; you may like to try this exercise lying down for the first few practices. The first is to breathe just into the upper part of your chest. Feel what muscles you use and
38 ELITE AGENT • DEC 2016 - JAN 2017
filling with oxygen as your muscles expand out and down. The complete breath is the combination of all three in sequence, from stomach to the middle section and finally into the upper chest. Overemphasise the three stages in the beginning to make sure each is being exercised correctly. As your practice improves over time and your muscles familiarise with the motion, you will find this becomes easier and more fluid. While the aim is to fill the lungs completely, don’t burst a blood vessel doing so! It’s designed to be relaxing, so take each motion slow and steady. Normally I would do 8 to 12 cycles in bed as I wake up or when I’m about to go to sleep. It’s a great way to relax before sleeping or feel energised and focused for the day ahead.
RHYTHMIC BREATHING Taking the complete breath a step further, rhythmic breathing is the ultimate tool to bring a sense of calm and wellbeing into your day-to-day life. This practice combines the complete breath as instructed above with the natural rhythm of your own body, using your heartbeat as a tool. Sitting or lying in a quiet, relaxed environment, obtain your heartbeat through the wrist or neck. Once you have your rhythm, inhale a complete
breath and count the number of beats it takes to complete one inhalation; make sure it’s an even number. If your count is six, for example, inhale for six beats, then hold your breath for half the amount (three) and exhale for six beats. Hold your breath again for three beats, then begin the round again through an inhalation of six beats. Like the complete breathing exercise before, be gentle. Start on around five or six rounds to begin with and work your way up. The same rule applies for the number of beats you take on the inhale and exhale. Just take it to a limit you are comfortable with and work your way up over time. Confucius said, “Life is really simple, but we insist on making it complicated”. Health and wellbeing sometimes feels a lot like that, allowing us to overlook practices that appear too simple to be effective. This is a great practice and so easy to do. I hope that you give it a go and enjoy the many benefits it can bring.
Elite Agent’s digital partnerships manager, Tom Sullivan is also a mindfulness meditation teacher in Sydney. With nearly a decade of experience, having learnt from masters across the globe, Tom now heads up his own meditation school, A Still Mind. For more information visit astillmind.com.au.
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cover story
40 ELITE AGENT • DEC 2016 - JAN 2017
Precision and PERSONAL BRANDING SONYA TRELOAR OF RAY WHITE ASCOT has personally
S
TARTING HER real estate
career in real estate in her mid 40s, in six years Sonya Treloar has grown a strong business through valuedriven marketing, careful attention to the basics and a personal brand that is made for real estate. She is known to her local community and colleagues for three distinctive things: The colour pink, a set of pearls and an approach to customer service that is consistent and delivered with absolute precision.
FROM STANDING START TO TOP PERFORMER Like most agents, the first few years weren’t easy; but she learned from others who had already achieved success. “I think in any job, especially in real estate, it’s not an easy road. You’ve got to put in a lot of work, a lot of dedication; but to me it’s all about service and being consistent. It’s about saying what you’re going to do and then doing it. Repeatedly.” While Sonya began her career in real estate maybe later than most, she says that having some life experience behind her when she started has been a distinct advantage. “I admire our young superstars, but when you have to deal with different situations
sold in excess of $230 million in property in her six years in the industry to date. Along the way, she has also won countless awards, including No 1 Salesperson in the Ray White Brisbane Metro Area, and is consistently ranked in Ray White’s Top 10 performers in Queensland. This year, she was ranked number four on the international list, made the A-List for the third year running and was also inducted into the exclusive Ray White Chairman’s Club; proving age, gender and being authentically who you are do not create barriers to success in real estate. Story by Samantha McLean. sometimes people just feel they can’t do it because of their age. Well, age is no barrier. I don’t care what gender it is. I don’t care what nationality it is. There are no barriers [like that] to success in real estate.” Learning as she went, Sonya also realised early on that getting to know the local community inside and out was going to be important. “I knew I had to build networks very quickly and started sending out a monthly newsletter to the area that I wanted to be known in. Every month I did that, and I haven’t stopped. I’ve been to a client’s house and they had every newsletter clipped onto their fridge! Obviously, they found the information about real estate was useful, or something in their street that was very important to them.”
MAINTAINING A CONSTANT PIPELINE Working in and around the northern suburbs of Brisbane, Sonya’s average sale is around the $880k mark.“I list blocks of land for $300,000 or so right up to $4 million. Brisbane is a good, steady growth market. We’re not having massive booms like in New South Wales and Victoria. It’s sustainable, there’s confidence in the marketplace so it’s a good time to be in real estate.” Steadily carrying 20 to 25 listings at a time, for Sonya real estate is a game played in four quarters of the year. And, she says, that consistency is key all year around. “Everyone has four quarters, but what I do in those quarters is really important. What I do in my first quarter reflects in my third
eliteagent.com.au 41
cover story quarter. It’s all about how I consistently work with those potential purchasers, potential buyers, potential sellers; how I can dictate the next 12 months.”
BRANDING MATTERS From a marketing point of view, the Ray White brand and the support that the franchise provides has been important to Sonya’s success. “I’ve never met a company like it. The White family are such supportive people. When I do a listing presentation, I have a pre-listing kit that always gets sent first. Inside that is a bit about the White family and myself. Then once we transact and sell the home, I feel my family has worked with their family and we’ve all worked with the White family. The ethos around Ray White, and what I believe they bring to the marketplace as a brand, to me is number one.” To demonstrate the pride she has in the brand she represents, both Brian White the Ray White Chairman - and the original Ray White ‘shack’ appear in Sonya’s profile video. “I rang Brian White and said, ‘Brian, I want to do a video; it’s a bit about clients and a bit about the history of Ray White. Can I have the keys to the shed?’ And he said, ‘No one’s ever asked me that before, but yes you can.’ So I got out there with my film crew and we learned about the history of Ray White, who as it turns out started selling pigs at the old shed. Then we learned about Allen White, Ray’s son, and then Brian is of course Allen’s son. And now there is a fourth generation.” Along with the the Ray White brand, Sonya also has a strong personal brand that is instantly recognisable in the community – although not everyone agreed with it at first. “My first day in real estate I turned up with a pink skirt on, pink briefcase and pink laptop. My principal looked me up and down. He said, ‘Sonya, lose the pink because nobody’s going to take you seriously’. “I went home and cried. I said to my husband, ‘Well, that’s it. My real estate career is now over.’ But I thought, ‘I love pearls, I love pink, and I am who I am’. I went back the next day and have just weaved it into what I do. You have to be true to yourself. Who you are is who you are and you can’t change that.”
PROSPECTING TIPS Sonya says she started prospecting using the telephone, but really felt her strength was face-to-face. So she decided to try door-knocking. “I would go and door knock and talk to [everyone] just about sales in the
42 ELITE AGENT • DEC 2016 - JAN 2017
area. Whatever area you start in, you’ve got to become an expert in it.” Sonya applies all sorts of digital and social tools in her marketing and also uses Domain live auctions on Facebook, which she says work well. But she still does a few things the old way, including handwritten cards, which she says she loves. “I do them every time I’ve done an appraisal, thanking ‘Mr and Mrs Smith’ for allowing me in their home. I think the good old old-fashioned touch of personalisation is really important.” “I like everything to look fantastic, and keep our brand as much as I can in people’s lounge rooms because when they go into real estate mode I want them to say, ‘Let’s get Sonya in from Ray White as well’.” Sonya says that three people in particular have taught her a lot in this area. “Mark McLeod is a great guy. He has taught me how important customer service and [a good] database is, and the calls; we have a
“The market doesn’t dictate to me what I write; I dictate to it by what I do in preparation during those first two quarters that reflect on my third and my fourth quarters.”
system in Ray White called Concierge and I pay Concierge to call my database every quarter. That has been a key reason why I’ve written what I’ve written. “The second person is Julie Ryan, who also works for the White family. She’s just a great strategist, who’s taught me how to raise my expectation of where I can take this business and shown me the key people I must bring in to help me. “The third person doesn’t work for Ray White. His name’s Michael Gordon. He’s what I call ‘My wise old owl’. He’s been in the industry for 40 years, gives back to a lot of people; just a great man, but he’s someone that I can talk to about a bad listing or [when] something’s happened in life.”
ATTRACTING LOCAL AND INTERNATIONAL BUYERS Sonya is also known for her marketing creativity and attention to detail. One of the important things is making sure the online listing looks the best it can. “Great photography is very important. The text must be accurate and so must the photos. Courier Mail print advertising is very important as well. “Also, list on all the major portals. I even list all my properties on [Chinese portal] Juwai; I do as much as I can for my client, to give them a platform where everyone can see their property. I leave no stone unturned.” Sonya says she has had a great deal of success with international buyers in the area. “I have a person that interprets Chinese for me. Transactions can be done in any language. I have also had lot of Indian buyers and sellers. I believe our job as real estate agents is to represent our sellers in the best way we can and to tap into every portal, whatever medium that is, to showcase their homes so everyone sees their property.”
SEASON’S GREETINGS Sonya says, “In my six years of being in real estate, I’ve been very fortunate. It has provided my family and me with a wonderful life. “I’ve kept in contact with nearly every one of my clients. It’s a nice thing to be involved not just in the transaction but the aftertransaction as well. Every year I hand-drop a gift off to every single part of my database, so they all get a box of chocolates handdelivered in the month of December. That’s two and a half thousand boxes! I have a team that helps me do that, including my two sons.” And the rewards are in both the gifts
that come back and in the form of phone calls and contacts from her farm area. “It’s about the longevity of the name and [the customer’s] experience again. Giving a great experience, I feel, is a really big part of real estate. We need to remember what we’re there to do, and also to help people close one chapter and then open another.”
LOOKING FORWARD “In 2017, I want to increase my business by 20 per cent again. I’ve done that year on year, so whatever dollar value that is, as long as it’s at least a 20 per cent rise, I feel it’s all doable. “The market doesn’t dictate to me what I write; I dictate to it by what I do in preparation during those first two quarters
that reflect on my third and my fourth quarters. Every year’s a great year because I want it to be. Privately, I’d like to spend a bit more time with my family, have a few more holidays with them.” Sonya says the most important thing she has learned during her six years is about giving people time and being patient. “Never want the deal more than the buyer or the seller, because when you’re in that zone you’ve lost focus. We’re employed to broker deals; that’s our job. That’s why we must always give the best service, the best customer experience, and also be empathetic for why people are doing what they’re doing. “Selling a home is a major thing in someone’s life. When your life’s going well, it can be great; but when life’s not going well and you have to sell your home, we need to never lose focus on the trauma and the stress that’s on that person, and that’s why you need to be empathetic and understanding. We have two ears and one mouth. There’s a reason: you need to listen. So being patient and tolerant for whatever situation it is, that is really very important.”
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personal development
The self-assessment technique that leads to growth AT AREC 2014, Wendy Alexander from Barfoot
& Thompson spoke about a successful method of improving performance called ‘keep-start-stop’. Manos Findikakis of Eview Group explains how it works, and how some of Eview Group’s high performers are using it to set themselves up for the new year.
T
HE HOLIDAY season is
often a time to reflect on the year you’ve had and to plan for the year ahead. We all have improvements we’d like to make and goals we want to accomplish, but sometimes it’s difficult to know where to begin – and even harder to see our ambitions through to the end. Research has shown that setting your aim and successfully hitting the target ultimately boils down to structure and feedback. Using a simple but effective technique such as Keep-Start-Stop can turn vague ideas and wishful thinking into real goals by providing a framework for your objectives and a self-lead assessment.
WHAT IS KEEP-START-STOP? Professor Phil Daniels of Brigham Young University developed the Keep-StartStop method as a way to facilitate critical thinking when setting goals. Today, this technique is used by academic institutions, businesses and individuals as an assessment and strategy guide. Keep-Start-Stop serves as a road map, reminding you of what you’re doing right and keeping you on track to make lasting improvements.
4 4 ELITE AGENT • DEC 2016 - JAN 2017
HOW DO YOU START? Reflecting on your year, ask yourself three simple questions: • What should I keep doing because it’s working for me? • What do I need to start doing to reach my goals? • What do I need to stop doing because it’s hindering my progress?
Determine which activities are moving you closer to your goals and keeping you healthy, wealthy and wise. KEEP This question helps you determine which activities are moving you closer to your goals and keeping you healthy, wealthy and wise. Anything that is fulfilling, has a track record of positive results and adds value to your life goes under Keep. It may be helpful to enlist the opinions of colleagues, friends and family to identify your best qualities,
especially since our internal critic can make us blind to our own strengths. As you consider the answers to this question, you also need to think about how you build on these strengths and continue to grow in a positive direction.
START This question is to encourage you to think about what you need to add to your life to reach your goals. It may contain tasks you’re procrastinating on, the information you need to gather or skills you need to build to attain the next level. The Start category is also where you put new opportunities.
STOP The Stop question is probably the most difficult and requires you to deal with any bad habits, stresses and activities that are hindering your progress. These things are often time- or energy-consuming but provide very little in the way of advancement or happiness. In some cases, it may be as easy as changing your mindset or adjusting the way you approach a task. In more critical circumstances, you may have to completely eliminate behaviours, thought
processes or even relationships that no longer serve your purposes. Lastly, place your list somewhere prominent, and take time every day or so to revisit your answers and remind yourself of what you’re trying to accomplish. Conduct regular reviews of your overall objectives and any milestones you’ve established to ensure they’re still working for you. Keep things flexible, and don’t be afraid to make changes as necessary. We are, after all, works in progress!
MANOS FINDIKAKIS, CEO AND CO-FOUNDER EVIEW GROUP Keep – Delegation. It took a long time for me to let go of tasks and responsibilities in response to the enormous growth we have had in the Eview Group in the last 18 months. This has allowed me to get important projects finished on time, and in many cases with a better outcome than I had originally hoped for. Start – We have three new projects for 2017 – our own NEXT CRM, Prospecting Plan and Eview concierge service coming up – so for me it’s a case of prioritising the next actions, simplifying moving parts and successful execution. Stop – Ad hoc meeting schedules! I feel I’m too flexible with my schedule sometimes and allow it to be interrupted with impromptu chats or ‘meetings’; this puts pressure on me after hours to have urgent matters attended to and completed.
MARIA FINDIKAKIS, COFOUNDER EVIEW GROUP Keep – Staying focused on prospecting and faceto-face appointments. Presenting the Eview opportunity at large-scale events has been something that has been truly successful for us this year. Start – Since changing roles within the company from sales to recruitment, I have learned that prospecting for new sales listings is no different to prospecting for people, so we can continue to grow our franchising business. Having a defined strategy, a clear marketing plan and set KPIs will help me achieve my goals this year. Stop – Saying ‘Yes’ to everything! Saying ‘No’ to people is such a skill, and one that I need to develop with the help of my coach, Tanja [Jones]. My day starts well with scheduled appointments and then interruptions start, which leaves me with
work to catch up on at home late at night, which is not ideal. So I need to learn to say ‘no’ politely and direct the enquiry to the right people within our group.
JOEL HOOD, EVIEW GROUP SALESPERSON OF THE YEAR 2016 Keep – What is working for me is prospecting with a mix of personalised market reports and business cards to accompany the mass automated marketing to my core area. The response rate has been significantly higher and generally returns motivated vendors, rather than those just seeking a price. Training has been a huge part of my 2016 and one of the key reasons my team has tripled our business in the last year. I listen to audio discs in the car, attend conferences and bootcamps as well as having quarterly sales training with Aaron Sansoni, which has taken my listing presentation to the next level. Start – In 2017, I want to take my systems and structures to the next level, where all members of the team know their roles and KPIs so we are more efficient and maximise more personal time for our families and leisure. I also feel to date that I haven’t done the best job with seeking referral business, which has come in on its own. I want to make more of an effort to leverage off our happy clients in the honeymoon period between sale and settlement. Stop – I don’t need to control every part of the process, and I trust my team to deliver, so something I have already stopped is nondollar productive activities.
CLAUDIO CUOMO, DIRECTOR, EVIEW GROUP C+M RESIDENTIAL Keep – I’m a positive person and I enjoy the training routine I have set for myself. I like listening to the coaches, Tom Panos, Josh Phegan and others; that gets me into a positive mindset to start the day. I’ve got into a good rhythm with my ideal day and week; for example, calls in the morning and so on. Even now that I have my own business, my focus on listing and selling hasn’t changed as Eview take care of the back office for me. Start – I am going to try some meditation and also get back into the gym, a walk of a morning or a class of some sort. Stop – I started with my own business on 1 August, moving from a large franchise. So far it’s been great, but I need to stop
worrying about others’ perceptions about both myself and the business; it takes up a lot of energy and is not that productive.
JULIE ORMSTON, DIRECTOR, EVIEW GROUP JULIE ORMSTON & PARTNERS Keep – I’m a great believer in continual improvement and engage several coaches for the different aspects of my business. As a selling principal, I need to wear many different hats. I surround myself with amazing coaches and mentors, and train with high achievers so that I can deliver better outcomes for our clients and my team. Of course, I work with the most exciting company, Eview, so I am privileged to be surrounded by positive, forward-thinking leaders and colleagues who are working at an elite level and are always implementing success strategies that I can model. I was recently introduced to a great productivity app called Pomodoro, which
In 2017 I will ensure that I stop letting my ego influence my intuition! encourages you to focus single-mindedly in blocks of 25 minutes with five-minutes breaks. My team love it, and we achieve a lot more than when we were trying to multitask! Start – 2017 is our year of automation. I want to improve our systems and focus on fun and dollar productivity. We are looking at outsourcing marketing and low-value administrative tasks. We are mind-mapping our client management and lead generation trails so that they can be automated wherever possible. Stop – We have a picture of an ideal client and generally we deal with the most amazing people who trust us, our process and happily pay a professional fee for our services. Occasionally, my ego interferes with my intuition and I take on business that I know in my heart is not good business. I think a lot of agents are conditioned to take all business, but the bad business is soul destroying – it changes your energy levels and destroys your confidence. If we deal only with the good ones who have realistic expectations, who are motivated to move, then our business is an absolute pleasure. So in 2017 I will ensure that I stop letting my ego influence my intuition!
eliteagent.com.au 45
sales
BUYER PERCEPTIONS:
HOW DO YOUR CLIENTS RATE YOU? ONE OF THE GREATEST STORIES real estate agents tell themselves is that buyers and
sellers are two different types of customer who need to be treated differently. But agents who ignore buyers to focus on vendors they can pitch to in the short term could be reducing their leads by as much as 75 per cent.
T
HE NEW BUYER Perceptions
of Real Estate Agents report reveals that the concerns of buyers are similar to the concerns of vendors. And the common theme of both consumer groups is that they want agents to lift their behaviour. The Buyer Perceptions report, released this month by CoreLogic, is the second to be conducted on consumer experiences of real estate agents. It follows a report last year on vendor perceptions. The Buyer Perceptions report identified that the behaviours and skills that buyers see as hallmarks of excellent service are identical to those outlined by vendors. Both buyers and sellers want good communication, help, empathy, fast response times and a transparent process from end to end that recognises both the emotional and financial enormity of buying and selling property. The only difference is the degree to which buyers are likely to experience excellence, with the survey identifying that this was less than half as likely as in the vendors’ experience. The report shows 14 per cent of
buyers experience excellence across the key skills and behaviours of agents, with most relegated to ‘average’ experiences. The survey shows that buyers understand agents are there to serve the vendor and, as they do not pay an agent, they have limited power to demand better treatment. But it also reveals how genuinely confused they are as to why so many agents – always on the hunt for their next listing – just don’t seem to comprehend that good service creates referrals and new business. “At the end of the day, the agent works for the seller – but treating the buyer as a client as well can only help grow their business,” said one survey respondent. The survey delivers some extraordinary insights into the depth of feelings that buyers have around the legacy method of selling property, identifying opaque processes, complicated negotiations and political one-upmanship. Comments identify the frustration so many feel and how they are no longer prepared to be silently mystified – especially when they are the ones spending many hundreds of thousands of dollars. “Agents should just be honest, list the
NEW MODEL: ROLE OF BUYERS IN LISTING LEAD GENERATION FUNNEL General advertising and sponsorships
Awareness
Point at which client is in agent database
Listings advertising Open for inspections/ potential buyers
Need fulfillment
Agent website Client referral
Decision confirmation
Vendor pitch Service delivery
Validation
46 ELITE AGENT • DEC 2016 - JAN 2017
property in the ballpark of what it is expected to go for and not try and be clever,” one respondent wrote. “I can smell a manipulator and it really turns me off. I just like honest interactions and I like a person that just helps it all go through smoothly. Most people don’t buy and sell that often in life, so just help us understand the process and be honest.” Agents who seek to defend or propagate these methods are most likely to be labelled ‘poor’ or ‘disastrous’ by buyers. While many agents think they are playing it clever, the report shows they are the ones losing the long game. Only 25 per cent of buyers expect to stay in touch with the agent they bought from, and only 57 per cent would recommend their agent to friends or family. These figures start to identify the extraordinary client ‘churn’ rate that so many agents tolerate by turning their backs on buyers while chasing their next listing elsewhere. This is reinforced by the insight extracted from the earlier Vendor report that buyers are assessing and ‘auditioning’ agents from the minute they meet them – usually at the first open for inspection. As such, the way
HOW AGENTS CAN BE HONEST WITH BUYERS – WITHOUT UNDERMINING THEIR LOYALTY TO THE VENDOR • Listen to what the buyer is looking for and make viewing recommendations based on what you know is on the market, not just on your books • Provide lists of comparable sales rather than price guides, so that buyers can make informed judgments about what to offer • Be flexible on viewing times to accommodate genuine but timechallenged buyers • Provide vendor approved quotes for repairs or remediation work on properties with issues so that buyers go in with their eyes open • Respond quickly to inquiries and requests for further detail • Know the property inside out, including building materials, block size, renovation dates, rates, strata fees (if applicable) and running costs, and have these available at opens.
agents treat buyers is a critical decider in whether the agent will ever get an interview and opportunity to pitch for the client’s business when they make the decision to sell. But equally, agents have an extraordinary opportunity every time they hold an open for inspection. When an agent delivers a quality service to a buyer, three things happen – they are extraordinarily grateful, they become a client for life and they tell all their friends. This makes buyer-care one
The figures identify the extraordinary client ‘churn’ rate that so many agents tolerate by turning their backs on buyers while chasing their next listing elsewhere.
KEY STATISTICS • 58 per cent of buyers rated their experience of buying a home as positive, but just 14 per cent said it was excellent • 33 per cent of buyers said the post-purchase follow-through of the agents they dealt with was negative, with 22 per cent describing it as poor and 11 per cent claiming it was disastrous • 68 per cent of buyers stated agents had little to no interest in helping them find a suitable property to buy • 9 per cent of buyers claim the honesty and trustworthiness of agents was excellent; 28 per cent claim it was either poor (16 per cent) or disastrous (12 per cent) • 28 per cent of buyers said the price guide offered by agents was poor (18 per cent) or disastrous (10 per cent). Only 9 per cent said agents were excellent in this area. • 46 per cent of buyers are using property reports to help them understand pricing • 57 per cent of buyers would recommend their agent to family or friends • 25 per cent of buyers expect to stay in touch with their agent and use him or her again.
of the most powerful and affordable – yet undervalued – assets any real estate agent can own. To this end, the survey confirms the view that the sales funnel for real estate agents is significantly larger than the majority of agents realise. It confirms that those who expend their energy and training on improving conversion rates of potential vendors only once the decision to sell has been made and they have been invited to present are focusing on the wrong end. Providing an excellent experience for buyers can add significant numbers of genuine future sales opportunities when managed correctly. While the immediate financial pay-off for agents comes from vendors, having a process for supporting and helping buyers can become a highly valuable asset that sustains the economic growth of a successful real estate business.
Kylie Davis is the Head of Marketing – Property Services at CoreLogic and the co-author of The Future of Real Estate Report (corelogic com.au/ reports/future). Follow Kylie on Twitter @ KDavisCoreLogic
The smart way to save on your Professional Indemnity Insurance.
eliteagent.com.au 47
profile
THE DREAM TEAM PASSION, DRIVE, PERSISTENCE: While balancing an
‘apprenticeship’ in property with tertiary studies, these three impressive young sales associates in the Goldman team are well on their way to success at the prestigious Sotheby’s International business in Sydney. While each are still yet to turn 20, they seem to have the maturity and drive of many people twice their age. Story by Samantha McLean.
From left: Ben Cohen, Darren Fine and Craig Fine DARREN FINE HAS been in real
estate for five months, previously working at Westpac. “Myself, Ben and Craig are sales associates to Mark and Barry Goldman, and we are really enjoying it. I’m studying at UTS, a Bachelor of Commerce with a year to go once I’ve finished this year. I’m majoring in International Business.” Craig Fine is literally one minute older than his twin brother Darren and also worked alongside him at Westpac in Double Bay before entering the real estate industry. He too is at university, completing a Bachelor of Commerce
at Macquarie, majoring in International Business and Human Resources. Ben Cohen is studying with Darren at UTS, majoring in Business and Management Consulting. He has been in the industry for about eight months and says it has been a “serious roller coaster”. Never thinking when he started in real estate that he would end up staying, now, he says, he can’t see himself doing anything different for the rest of his life. Says Darren, “I never thought of getting into real estate until
48 ELITE AGENT • DEC 2016 - JAN 2017
Ben was in real estate and he said he was doing really well. At the time I wasn’t really enjoying the bank. I came into real estate and what attracted me at the time was the fact that it’s probably one of the only industries where you can get just as much out as you put in. Your earning capacity is truly unlimited.” Craig, on the other hand, has always had property at the back of his mind as a career. “Even when I was working at the bank, helping people out with their property, it always intrigued me. I didn’t know a whole lot about
real estate, but I was attracted to the idea of the reward for really working hard.” Ben initially didn’t expect to be in real estate either. “I was sitting in Cape Town, South Africa, at the end of 2015 and I saw that my careers advisor had sent everyone in our year an email about opportunities for salespeople at Raine & Horne and Laing + Simmons in Double Bay. I didn’t know what I wanted to do but when I saw that email I made a decision on the spot to give it a crack. “It turned out that by the time I got back, the agency said they weren’t looking for part-time associates. I refused to accept that and I emailed every single agency I could possibly think of, just telling them I was looking for part-time work. Ray White Double Bay got back to me. I was there for three months and then joined the boys.” Craig laughs, “We told Mark and Barry that they had to take him.”
MOVING ON UP Now working at Sotheby’s with the Goldman Brothers, there are eight people plus a business manager that make up the team, including Craig, Darren and Ben. It’s competitive but everyone gets along well. Darren says of his working relationship with his twin, “We’ve always been competitive, even from a young age, but it has worked to our advantage to push each other to do the best we can. Together we are all a sales associate team. It doesn’t matter if I do well or Craig does well or Ben does well. It’s about the team.” The typical day for the team looks just like a normal day for most top performing agents, with gym at 5.30am five days a week plus Saturday, followed by breakfast and into the office by 8am. Says Darren, “The gym is us getting ready for the day. It’s like putting on invisible armour. We spend half an hour or so doing admin things and by 9am we’re upstairs in our office to chat with owners Mark and Barry, and we establish a plan for the rest of the day. Then, depending on what day
it is, that influences what we do.” For the most part they all agree a successful day is about spending quality time on the phone and dollar-productive activities are key. Says Ben, “At the end of the day the reality is if you don’t get on the phone you won’t get business. If you don’t get business then why are you in the industry? It’s that simple. We’re very strategic about our time and that allows us to get back to the office early so we can hit the phones. “The other thing I will say is that the boys [Mark and Barry Goldman] have a lot of trust in us, even though we don’t have as much experience as a lot of other people. They give us the reins and we also have the privilege of being able to control what we do. Some days it’s not always about prospecting, even though prospecting obviously is a main part of the business. We work on a few different things, but everything is a constant hustle between us.”
MOTIVATING EACH OTHER While most agents will experience a fear of making calls or door knocking, Craig says for the three of them it is their bread and butter, and they motivate each other. All of them are crystal clear on the fact that prospecting is what brings results, both personally and for the team. “Just this week we’ve probably had our best week collectively between the three of us since we’ve joined,” says Craig, “One of Ben’s clients he’s been working with has just signed a listing today, an apartment in Double Bay, I signed a three-and-a-half million dollar townhouse in Woollahra, that’s starting this weekend, and Darren’s hopefully signing one up tomorrow in Double Bay. So, we should have seven listings
on the market by next week and we haven’t even been there [Sotheby’s] a week yet.”
SUCCESS LEAVES CLUES In the competitive area of Double Bay there are many successful agents that all three take inspiration from. “We obviously look up to Barry and Mark, but besides them I would say if there’s one person it’s probably Alexander Phillips, because he is a fantastic example of how you can just take everything back to the basics and you can still do very, very well. He’s constantly prospecting and does what he
one of the most knowledgeable guys I know and he would drop everything to help us out, even being so new. He sells all these big estates and he’s very much like a father figure for us boys in the office. He’s someone that I know a lot of other people respect very highly and he’s got a very wellstanding position in the industry.”
BE HUMBLE AND HONEST Getting started in real estate is never easy and the three have already taken on board loads of advice from others. Says Darren, “If there’s one killer tip to someone who’s new in the
“THE REALITY IS IF YOU DON’T GET ON THE PHONE YOU WON’T GET BUSINESS.”
does really well.” Ben says Michael Pallier, also at Sotheby’s, is someone he sees as a good role model. “I never knew anything about him until we met him the other day. He keeps a low profile, yet he is probably the most successful agent in the country. He knows what he has to do, he builds relationships, he’s honest, he’s a gentleman and he gets the job done.” “I’m actually going to talk about someone else who probably no one talks about,” says Craig, “and that’s Max Spartalis from our office. We sit next to Max, he is
industry it’s that you have to embrace the Altman Brothers’ concept of ready, fire, aim! “Basically what it means to say is you have to get to a state where you are confident enough and trust yourself enough to seize an opportunity. For example, many times when we are door knocking, we knock on the door, no one’s there, we’re walking away and then the vendor drives up; it’s sort of weird, do you approach them in the car or do you not? “We’ll just go ahead and approach them. We’re at an open
home and we see the neighbour across the road is outside her house, we’ll go talk to her and invite her to come over and look at our property. Overall, just once you see an opportunity, ready, fire, aim! You don’t waste time, you just go for it.” Craig agrees, “Double Bay is probably the most competitive real estate market in the entire country. There’s probably about three hundred or more agents just in Double Bay. They’re all calling the same people, most of them are knocking on the same doors. People sit back and wait for things to happen. You have to put yourself in situations and make things happen. I think my best advice, which also came from Josh Altman, is choose to be lucky.” Ben’s top tip for newcomers to the industry is not to take rejection personally as it can affect your whole mood. “We hear ‘no’ probably twenty, thirty times a day. The most important thing is to realise that it’s not personal, it’s just the business you’re in. As long as you can remain positive – that is going to be your best tool for success. “That’s also why a lot of the young agents leave the industry very quickly. They see this life of luxury and they see the lifestyle, but they don’t see the hard work that goes on behind the scenes. It’s long term; just remain positive.” Says Darren, “I agree; you’ve got to be playing the long game. When I first got into the industry I believed in instant gratification. Instant gratification doesn’t exist.” But the last and best tip comes from their mentors, Mark and Barry Goldman. “Something I learned from Mark and Barry which is so important,” says Ben, “is ‘Just be humble and honest.’”
eliteagent.com.au 49
best practice LAST YEAR IN DENVER, COLORADO, a woman made an unscheduled visit to an
unoccupied foreclosed house on which her husband had made an offer. During the visit, which was unsupervised, she slipped and fell on an uneven part of the sidewalk and injured herself. The woman then initiated legal proceedings with both the bank and the listing real estate broker, saying the ‘For Sale’ sign in the front yard made her an ‘invitee’, and that they should pay damages for her injuries. The court upheld in this case she was trespassing; but all cases are different. Lisa Jemmeson takes a look at the possible outcomes of a similar event in Australia.
Property and Personal Injury:
WHO IS TO BLAME?
L
AWS IN EACH COUNTRY
develop differently. In Australia, English law arrived in New South Wales with the First Fleet ‘so much of the English law as is applicable to the new situation and condition of the infant colony.’ English criminal law was imported into the colony from the first settlement under Letter Patent issued in 1787.
NEGLIGENCE: THE DEAD SNAIL CASE The Australian common law principles of negligence come from a famous British House of Lords case involving a bottle of ginger beer, a dead snail and an awful dose of gastroenteritis and shock. The plaintiff had become violently ill after consuming her ginger beer with a side of decomposing snail. She sued the manufacturers of the beverage for damages in negligence. This British case applied a new rule of law, otherwise known as the ‘neighbourhood principle’ referred to in this case (Donoghue v Stevenson, 1932). In summary it was found one person’s actions should not harm another (‘a neighbour’). A few years later, the Australian Courts had the opportunity to affirm the decision in the ‘itchy undies case’, thus cementing the law of negligence into our jurisprudential landscape. Briefly, the manufacturer of the said undies failed to remove a chemical irritant from their woollen underwear. The plaintiff who wore the underwear contracted dermatitis in a most sensitive body area and sued for damages in negligence. The Australian courts expanded the
50 ELITE AGENT • DEC 2016 - JAN 2017
legal principles originally established in the ginger beer case when deciding the itchy undies case. The Australian Court stated that for an action to be successful in negligence it must be shown that: • A duty of care is owed by the defendant • There was a breach of the duty owed • Damage was suffered as a result. Turn your mind back to the 1990s and the litigation explosion. A number of high-profile cases saw multi-million dollar damages awarded in situations where the plaintiffs established, under the then legal principles, that the defendant was negligent. The impact of these decisions was felt most acutely by Local Council authorities and professionals. In some instances, certain professionals such as doctors, specialists and the like could not
available; they include, under Division 4, that no wrong is done to one who is willing, or as we lawyers like to say ‘volento non fit injuria’. Under section 5F this is a defence to a claim if the risk to the plaintiff was an ‘obvious risk’. This might be used if, for example, the plaintiff had to cross a sharkinfested moat to get from the footpath to the front door. The quantum of damages for noneconomical loss that a plaintiff can expect is tempered under s.16 of the CLA. However, damages may not be awarded for non-economic loss unless the severity of the non-economic loss is at least 15 per cent of a most extreme case.
AGENCY AGREEMENTS: THE LOOPHOLE
The agent’s ‘For Sale’ sign does not constitute an invitation to walk onto the property. obtain insurance in their field of expertise. The Government moved to introduce legislation to modify, by statute, the common law principles. The Civil Liability Act (CLA) was enacted in 2002 and sought to address the perceived problems with damages claims and awards, together with the issues of obtaining insurance. Under the current regime, in order for a plaintiff to establish negligence under the CLA, they must prove that the defendant: • Owed the plaintiff a duty of care (Div 2). In determining whether a duty is owed, section 5B requires the court to inquire whether “the risk was foreseeable, the risk was not insignificant, and a reasonable person in the plaintiff’s position would have taken those precautions.” • Breached the duty of care • Caused the damages (Div 3).
WHAT CONSTITUTES TRESPASS? Leaving negligence to one side for the moment, we turn our minds now to the Law of Trespass. Trespass is an available remedy to an ‘occupier’ of property. ‘Occupier’ catches the person legally entitled to immediate possession; that is, the tenant if applicable. Other people have an implied licence from the footpath to the front door of the property; this is the mechanism that allows salespeople to go door knocking and Avon to pop round and sell their lippy. Once at the front door, if the occupier asks the person to leave, they technically ‘revoke the licence’. If the person remains on the premises once the licence has been
revoked, they then are trespassing. If a person is invited onto the premises, for example to attend an open house, they are only entitled to be there for that purpose and their right to remain ceases as soon as they are asked to leave. If the person refuses to leave, the matter becomes a matter for the police and The Inclosed Lands Protection Act 1901 [sic]. With this in mind, given the factual scenario in our US case study, could an estate agent in New South Wales be negligent by erecting a ‘For Sale’ sign at the front of the premises if someone was injured when entering the property without the agent?
THE SHARK-INFESTED MOAT The agent’s ‘For Sale’ sign out the front of the property does not, in and of itself, constitute an invitation to walk onto the property; the ability to walk onto the property to the front door operates as an implied licence. If someone – for example, a prospective purchaser – invoking the implied licence before they are asked to leave, injures themselves on the path to the front door, then one returns to the CLA when seeking to defend the action. Even if the plaintiff could establish the elements of the action, the CLA provides codified defences available to the defendants. The defendants, plural, will likely be the homeowner and probably the estate agent. Agents are usually named in proceedings as they hold a Professional Indemnity Insurance Policy. Various defences are
The CLA and Civil Liability Amendment (Personal Responsibility) Act 2003 were introduced to promote the notion of personal responsibility and, for the most part, make it more difficult for a plaintiff to succeed. However, as a panel solicitor for Realcover, I can personally attest to the fact that it does not stop plenty of plaintiffs from joining estate agents to personal injury proceedings. Commercially prepared agency agreements contain indemnity provisions that seek indemnity from principals, in favour of the agent, “against all actions, suits, proceedings, claims, demands, costs and expenses made against the agent in the course of, or arising out of, the proper performance of their duties under the agreement.” The REINSW standard agency agreement also includes express permission for the agent to erect a ‘For Sale’ sign. Agents could potentially fall foul of the protections in both the CLA and the agency agreement – that is, ‘proper performance’ – when they do something that creates a risk. An example of this could be if the agent props open the pool gate of a swimming pool at an open house so that prospective purchasers can easily stroll in and out of the pool area. If someone drowned or were injured, then the better view would be that the agent would be liable. Each case turns on their own set of facts and circumstances; agents should be mindful of how the legislation operates and the areas of exposure that could materialise when reasonable regard is not given to the neighbourhood principle and the common law as it stands.
Lisa Jemmeson is a Senior Associate with Jemmeson & Fisher. For more information visit jemfish.com.au.
eliteagent.com.au 51
technology REGULAR READERS of Elite
Agent’s daily e-newsletter The Brief receive a marketing and technology tip every Tuesday and Wednesday. Many of the tools we have talked about are over the last month are things we use and love ourselves; they keep our own website humming, and can help you achieve great results online too. Here are our 10 favourite digital marketing tools of the moment.
1
10 DIGITAL TOOLS TO SUPERCHARGE YOUR MARKETING
BUZZ SUMO
One of the best content marketing strategies is to find out what works for other people in the same market as you, learning about the content types that work best. Are they long posts, list posts or how to’s? Buzz Sumo is a great tool that does the hard analysis for you, showing you what works for your competitors and industry influencers. You can use this information to plan your content creation efforts and find influencers to help you share it. Find it: buzzsumo.com.
2
BUFFER
How about scheduling social media posts while you sleep, or while you are doing other important things, like prospecting or meeting clients? Buffer is a social media management application that allows you to schedule your social content and push updates to multiple social networks. You can also track performance analytics directly from your dashboard. Buffer also has an amazing blog with tons of digital marketing tips. Find it: buffer.com.
3
VISUAL HUNT You need pictures to add visual appeal to your digital marketing content, but professional
52 ELITE AGENT • DEC 2016 - JAN 2017
photography services may be out of your budget, or you don’t have the resources to get it done in-house. Visual Hunt searches free stock photography sources to find CCO, Creative Commons and public domain images meeting your requirements. Find it: visualhunt.com
4
SUMOME
Does your digital marketing plan for 2017 include boosting your site traffic? SumoMe offers an easy-to-implement application suite designed to support your efforts. The List Builder tool encourages email sign-ups through a popup or lightbox, heatmaps keep a close eye on the areas your visitors click on and a share box encourages users to spread your content around the internet.
One of the biggest benefits of SumoMe is how easy it is to add to your website. You don’t have to worry about configuring plugins in your content management system; instead, you copy and paste a few lines of code and handle everything through the SumoMe panel. Find it: sumome.com.
5
BEACON
Need a compelling offer to grow your lead-generation efforts? Wonder how we make our eBooks? Easy – Beacon repurposes your existing blog posts and turns them into a smart PDF that your clients can download. Your content goes into a professionally designed template created to engage your audience, and you don’t need to worry
about chasing after a creative team. Userfriendly customisation options let you brand it for your company. Find it: beacon.by.
6
MUSIC FOR MAKERS
Video content captures a lot of attention, but it may fall flat due to a lack of music. Music for Makers sends a weekly email newsletter featuring royalty-free, high-quality songs. You don’t pay anything for this service, so your video creation budget stays the same. The company also has a paid production library if you’re looking for additional music. The cost per track ranges from $10 to $25, or you can choose a recurring plan for $35 per month or $100 per year. Find it: musicformakers.com.
7
CANVA
Wonder where all those funky quote style images with the amazing fonts come from? Blog posts, social media updates and other content pieces shine with the right graphic design, but you don’t want to wait a week for a designer to create a picture for Twitter or a great Facebook cover photo for your
business page. Canva streamlines this process through pre-designed templates, an extensive stock image library and a userfriendly design tool. Find it: canva.com.
8
COSCHEDULE
To be consistent with your content you need an editorial calendar to plan out who is going to produce what content and when. CoSchedule is a marketing and content planner that is a fraction of the price of tools like Hubspot, and it goes beyond the typical editorial calendar. Never lose an idea or piece of content again. Find it: coschedule.com.
9
QUILL ENGAGE
Google Analytics is a powerful tool when you can understand what the data tells you. However, it’s easy to get overwhelmed with the available reports and features offered by the platform. Quill Engage by Narrative Sciences simplifies this information into straightforward explanations in plain English. The service sends your website report via email and
highlights the most important insights. Find it: quillengage.com.
10
SNIP.LY
You don’t have to create every piece of content you share on social media. If you find something great on another website, you can share it with your own unique Snip.ly link and help funnel visitors back to your site. Snip.ly recaptures this traffic by putting a call-to-action overlay on the page you share with your contact details. Find it: snip.ly None of us have an endless well of resources to draw upon for our digital marketing strategy. However, with the right mix of tools and the help of automation you can take your marketing up a level in 2017 to meet your prospecting goals. And PS: If you haven’t subscribed to The Brief you are definitely missing out! For more free tips like this and the latest news delivered to you daily, visit eliteagent.com. au/subscribe.
Samantha McLean is the Managing Editor of Elite Agent Magazine.
Knowing your team is great!! Truly understanding what makes your team tick is a game changer! “I was fortunate enough to have Julie and Neil work with me and my Property management team recently and I couldn’t be happier with the results. Understanding what gets your team excited, what drives them, how they might react in certain circumstances and most importantly they now have a better understanding of me. I am now expanding this though my entire business.”
Trent Shorland, Harcourts Want a winning team culture that get’s results? Call us today and realise your profitability and business goals. Contact Julie on 0412 752 366 or julie@agentdynamics.com.au or learn more at agentdynamics.com.au
eliteagent.com.au 53
case study
The Art of Real Estate in NYC IN ONLY FIVE YEARS, the artists turned real estate
agents at Bohemia Realty Group of Upper Manhattan have established dominant market share in the world’s coolest neighbourhoods. The agency has grown from its two co-founders to over 140 agents, many of whom came to real estate from the tribe of artists that define Upper Manhattan as a global hub for culture, art and fashion.
T
HE WORLDS OF real estate
and art collide at Bohemia. The group has carved out a lucrative niche in the selling and letting of residential real estate by being authentically, meaningfully and commercially connected to the community of artists that they know better than anyone. When we asked Bohemia’s co-founder Sarah Saltzberg, “Who are Bohemia?” the answer was simple. “We are Uptown”. By ‘Uptown’ Saltzberg is referring to two things. Firstly, Uptown is a geographical area. Bohemia specialises in Uptown, the name given to the New York City neighbourhoods of Upper Manhattan that lie between 96th Street and 220th. These are neighbourhoods that star in hit TV shows and movies, the kind that people write songs about, like
54 ELITE AGENT • DEC 2016 - JAN 2017
Harlem, Washington Heights, Manhattan Valley and the Upper West Side. ‘Uptown’ has another meaning, as it has long been a cultural and artistic hub for the world. It is a district that has accommodated artists from all over the globe, cradling and inspiring talent in theatre, music, fine arts and fashion. That legacy has given the area its unique soul. To business people, there is no value to be found in ‘soul’ – it is an intangible concept better appreciated by artists and those who seek to understand the human experience. It seems fortunate, then, that Bohemia’s two co-founders were not business people but the types of artists and intellectuals who converge on communities like Upper Manhattan. Although a principal agent of Bohemia now, Sarah Saltzberg’s first love was the performing arts.
Saltzberg was living Uptown, working as an actress and trying to get funding for a show she had co-written for Broadway. After a mentor (Wendy Wasserstein – the first woman to win the Pulitzer Prize) suggested that artists had done worse things than sell real estate for their art, Saltzberg qualified for her real estate licence and set out to find some clients. “I rang the owner of my own building again and again. Hang-up after hang-up. I finally convinced him by saying, ‘You want me in these buildings. I live here. I know this community. I am the people who want to live in these buildings’,” Saltzberg recalls. “Eventually he [my own landlord] gave me a shot to rent three apartments in the building where I was living over a weekend and I did it, just out of my personal network of people I knew who were wanting to move into the city to work as artists.” This break led to a major account of over 140 buildings. The original mission to fund the show was successful too – Saltzberg’s show made it on Broadway and ran for three years. While starring in the show for two of its three years, Saltzberg became more and more drawn to real estate for all the reasons people fall in love with the business. “Everyone I know gets into real estate for the money, but you stay for other things: you stay because you love the art of a deal, or because you enjoy being with people for the emotional journey of transacting property, or you want to be a part of a community.” Saltzberg and her business partner, Jon Goodell, decided to launch Bohemia Realty Group in 2012, seizing the opportunity to create a firm that integrated with the Uptown community. Bohemia has made an impact where the traditional, homogenous
When people and relationships come before the deal, the deal happens and it leads to more deals. real estate businesses had not been able to capture the imagination of the unique Uptown residents. The Bohemia approach to business is more about helping people to find enrichment. The website explains the Bohemian mission: “We have a three-pronged approach to improving quality of life: to service clients in an efficient, friendly way; to create a positive work environment for our agents and employees; and to enrich the community above 96th Street.”
The website hosts an interactive map of the Upper Manhattan neighbourhoods with information about their history, culture and property as well as insider tips on where to eat and how to get around. A hyper-local focus is one of Bohemia’s greatest defences against market competitors and the forces of disruption. “We have a site over here [in the United States] called Zillow.com that gives Zestimates, which are automated valuations of property and are notoriously unreliable,” said Saltzberg. “In our neighbourhoods, values will change greatly and you have to have lived here and immersed yourself to
understand that sometimes you have to take it block by block [to understand changing property values].” Bohemia’s 120 agents are deeply connected to their neighbourhoods, not only understanding the community but also contributing to that community in a meaningful way. “Ninety per cent of our agents live Uptown, and many of them were our clients who started part time and fell in love with real estate like I did. Many of the agents own cafes, bars and restaurants in the neighbourhoods,” says Saltzberg. Being local residents and business owners in the Uptown community positions the Bohemia agents as insiders, arguably the best place to add value to all clients on the property journey. It also aligns agents with the community and encourages the investment by agents back into their community to contribute in ways that replenish the soul of the area, so that it isn’t lost in the wake of development and gentrification. “As agents we have limited control over the transitions that occur in our neighbourhoods, but there is a lot that we can do to help make that change responsible,” says Saltzberg. “Our agents are finding ways to lead the
community by using their talents to enrich [it] with things like teaching a ballroom dance class at NYU, a baby music class, yoga or a workout in the park.” Community leadership has converted to market leadership for the team at Bohemia, with listing sites such as streeteasy.com verifying their market dominance of exclusive properties in Upper Manhattan. The people-first approach to business is a powerful takeaway from the Bohemia example. When people and relationships come before the deal, the deal happens and it leads to more deals. “What we have found is that if you prove your worth with the portfolio [of landlord clients], the portfolio stays with you [when it is time to sell],” explains Saltzberg. Bohemia Realty Group may be founded on a simple vision of artists serving artists in the community they love. But, Bohemia has a recipe that can help all real estate businesses to integrate and work with the communities they serve: local with global, human with brand, and people with profit.
Sarah Bell is a inhouse features writer and regular contributor to Elite Agent and EPM Magazines.
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The Home Straight Mark McLeod
Are you ready to go digital? It’s time that we, as an industry, learned a new skill. That skill is data mining in a digital world. Gone are the days where the traditional functions of listing and selling are the only ones an agent needs to perfect. We must learn to evolve and embrace digital behaviours or risk being left behind.
T
he changing expectations of consumers have created space for digital usurpers – businesses like Open Agent and Purple Bricks – to enter the market. Digital expertise must become the norm for agents. If we act like agents of the past, those usurpers will get through the digital door and will be a step closer to beating us at our own game. Take Open Agent, for example. It doesn’t employ a single agent. It doesn’t host a single open home, yet it claims to have done thousands
of transactions last year. Our clients are going through these digital doors whether we like it or not. When I talk about digital behaviours, it starts with our standard of database management and ends with how we treat the consumer. Are your communication plans strong and meaningful? Are you managing the entire customer experience from start to finish? Or are you solely focused on the transaction? Agents with good communication plans who genuinely connect with property owners achieve higher commission and success rates. At Ray White, we did some research into database
management and the results showed us that a solid database could expect 10 per cent of its contacts to be listing their property at any time. However, 55 per cent of clients within an office database typically drop off due to a lack of communication. And on top of that, data that’s not regularly maintained has an attrition rate of 12 per cent per year, rendering it inaccurate, unreliable and ultimately ineffective. Anyone who judges the quality of a lead based on having their mobile phone number needs to rethink. These days, the only people who use the phone as their primary communication method are
can genuinely engage. We live in a day and age where if customers don’t get what they want from a service they’ll find a digital solution, so we need to be agents of the future. Our customers are demanding it. Our businesses must be in line with where our customers are, and that starts with recognising that you can’t build a relationship with people by spamming them every week with emails and newsletters. You need structure, digital tools and client-centric processes that will allow for data-driven decision-making. The only way to execute any of this is to get a strong
You can’t build a relationship with people by spamming them every week with emails and newsletters. all born around 1944. We need to embrace the technology that allows us to respond the way our client wants – not our preferred method. Cold calling on cold topics is also a thing of the past, and we can thank social media for that. Social media reveals a lot about a person’s life. Do your homework before you meet a client and understand what’s important to them so that you
56 ELITE AGENT • DEC 2016 - JAN 2017
team made up of people with expertise in digital areas. If you think you can be a single agent in the future without a support team, you are delusional.
Mark McLeod is the Ray White Group’s Chief Executive of Growth. He works alongside both agents and businesses across Australia, helping them reach their ultimate potential to achieve success.
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