ELITE AGENT Issue 06 Jul Aug 2015 [FULL]

EXPANDING TO NEW MARKETS PAGE 16

A GAME OF DRONES PAGE 36

SELLING PROPERTY TO SMSF INVESTORS PAGE 42

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Issue 06 Jul/Aug 2015

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2 ELITE AGENT • JUL-AUG 2015

Contents Regulars 006 EDITOR’S LETTER 008 READER PROFILE Luke McAuliffe, Peter Blackshaw Gungahlin 010 UPFRONT News from the Community 014 EVERYONE IS TALKING ABOUT Are foreign buyers a positive for Australia’s Housing Economy?

024 TECH IN THE CITY Lisa B 025 HEALTH SCIENCE Emily Schofield 026 BUSINESS DEPOT John Knight

14

028 CHAMPIONS Harcourts Awards 2015 040 AGENT PROFILE Anthony Gattuso, Woodards Carlton 045 MY LOCAL Tegan DeClark, Ray White Toowoomba 048 THE LAST WORD Fiona Blayney

First Person 016 MAKING A MOVE Josh Phegan 018 IT’S A BALANCING ACT Andrew Robinson 020 THE GIFT OF LISTENING AND THE POWER OF PRESENCE Tanja M Jones 022 THE WHALE WAY: VIEWS FROM A PROPERTY POM Simon Whale

30

Cover Story 030 IT TAKES TWO Michael Clarke and Cherie Humel-Clarke

Features 034 SUCCESSFUL SPRING SELLING with Stuart Benson 036 A GAME OF DRONES Karin Barschow 038 THE INNOVATION BELL CURVE Kylie Davis 042 SELLING PROPERTY TO SMSF INVESTORS Glen Doherty 044 AVOIDING THE AWKWARD SILENCE Carl Quested 046 LADIES & GENTLEMEN… Brendan Lawley

34 4 ELITE AGENT • JUL-AUG 2015

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P EDITOR’S LETTER

PROPERTY MANAGEMENT used

to be like sport and milk. Not necessarily in that order. And now not any more! Was it always the plan? Maybe in the backs of our minds it was. But on this occasion it was a case of reader feedback and timing that brought it significantly forward.

I like to think of feedback as a gift, whether good or bad. If it’s good, it can spur you on to greater things. If it’s negative it can give you the opportunity to fix something or push harder.

(Unless you do nothing with it, but that maybe a story for another day...)

While doing the rounds of ‘conference season,’ so many readers told me how much they were enjoying Elite Agent.

For that I am both humbled and grateful. Smiles from ear to ear. There were a couple of occasions I maybe had a couple of ‘Nina moments’- something fans of the show Offspring will understand. If you’re wondering, my personal Nina moment usually involves imagining myself sipping tea with my hero Ita Buttrose who is also saying I have done a good job. Ita and I are chatting and smiling and we are swapping nice magazine stories. How good would that be?

Usually for Nina, as it was for me one day, the reverie was broken by the mental sound of an old vinyl record screeching

In the absence of feedback nobody moves forward. Everyone misses that opportunity to improve, change, grow, right wrongs; whether they are perceived or otherwise.

6 ELITE AGENT • JUL-AUG 2015

everything back to reality and the current awkward moment. And the moment for me happened to be someone asking the question, “Why is property management always at the back of the magazine?”

I can’t quite remember what I responded with at the time, but I just remember a weird feeling in my gut that I needed to ‘fix it’.

Most magazines and newspapers are designed in very definite sections so that the people know where to find things and with a cohesive look, feel and story. Pick up Good Weekend, Inc, BRW, Vogue, Marie Claire – whatever your taste is – and you will find your favourites (usually) in the same place. In a newspaper, if you’re interested in sport, you will almost always turn to the back.

Another good metaphor is a supermarket; everything is organised in aisles so that you know where to go to find what you are looking for. Take milk for example. Have you ever noticed that it is always in the farthest corner, up the back of the supermarket? There are two reasons for this; almost everyone buys milk; when it’s up the back and you have to walk past everything to get there, chances are you might pick up a few things you maybe didn’t need. And may I suggest that if you needed milk and walked into a supermarket – even one that you weren’t familiar with – chances are you would instinctively head diagonally to the back out of habit.

Anyway this is not about those

tricky marketing tactics that supermarkets use to catch us unawares so I’ll move on!

The positioning of Elite Property Manager at the back of Elite Agent was never meant to diminish it’s importance in any way. Rather it was about keeping similar types of content together and knowing where everything sat. I suppose I thought everyone knew that was where to look for property management content, just like sport and the milk. And then ouch, another screech of the vinyl inside my brain, this time of my own doing.

I’m always saying that property management should be treated with the same importance as sales, but now felt like I wasn’t demonstrating that the best way that I could.

And then, while we were at a conference together the very lovely Tanja Jones (see her article on the Gift of Listening on page 20) commented that PMs really should have their ‘own voice’.

And so I started wondering and thinking out loud which turned

into countless conversations, which turned Elite Property Manager into its own magazine.

Initially, the thinking was that it would be a one-off, but response already has been so great we are making it a permanent fixture.

And property management will only become more important in the future. This month, after a successful listing on the ASX, I’ve spent quality time chatting with Mark Woschnak, CEO of rent.com.au. He pointed out that many commentators, Government, and other statistical agencies have been suggesting that our capital cities in Australia are likely to follow the trend of other major capital cities in the world, where 50% or more of the population rent. Some are saying that Australia could reach these figures within a decade.

Back on the subject of feedback I want to make special mention this month of our amazing partners at Industrie Media who give us incredible support in digital; in particular Dean Summers who has once again created some amazing images for both magazine cover stories. One shoot in beautiful sunny Manly where the weather was almost as good as spending time with Michael Clarke and Cherie Humel-Clarke. This pair are an absolute inspiration and such a perfect example of how to use individual strengths to create real listing magic. Then, another shoot in Canberra for Hannah Gill, who has already achieved so much in her career; on this particular freezing cold day also managed to achieve

the amazing feat of not looking cold at all! And Aaron Jaeger, a videographer in Brissy who hangs out with us a bit. We had heaps of fun at both AREC and the Console user group; he did a fantastic job of filming and editing our panel discussion with on the “Challenge of Change” which you will find online and in Elite Property Manager.

If feedback happens to come as a ‘badly wrapped’ gift, I still think getting some feedback is much better than getting no feedback. Sometimes, when the ‘shoe is on the other foot’, I can be reluctant to give feedback; I hate confrontation. But, I will have to work on that. Why? In the absence of feedback nobody moves forward. Everyone misses that opportunity to improve, change, grow, right wrongs; whether they are perceived or otherwise, which I am sure most of us would if given the chance.

So, when you’re hesitant, or avoiding having that awkward conversation with a friend, family member, colleague or manager I urge you to put your heart in the right place, and, if it’s tough love, be sensitive. Be courageous about speaking your mind, and be open to two-way conversation.

And if you are getting feedback, really listen and take it on board.

And of course, if you have any feedback for us, or you have any ideas for change or improvement, don’t hesitate, I’m well and truly open to it. You never know what we might do next!

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READER PROFILE

ROOKIE ON THE RISE Luke McAuliffe was born and schooled in Canberra. Having remained in the local area he is now a part of the sales team at Peter Blackshaw Real Estate Gungahlin, where he has worked for the past three years. His career now provides the reward of satisfaction in finding the perfect homes for others.

What motivated you to get into real estate?

I’ve always had a passion for the real estate sector. My father operated real estate franchises in Canberra for over 20 years, and his influence guided me to join the industry.

My prior employment in both the mortgage broker industry and in construction helped me

gain insight into the property buying and selling process. As I have high energy, I was looking for a fast-paced career and something that allowed me to control my income.

What are your biggest challenges so far?

My biggest challenge so far was moving from being a sales

assistant (which I was for my first 12 months) to a commissiononly agent last year. The leap forward was scary at first, as having a set income felt safe; but I embraced the challenge and charged forward. I don’t plan on looking back at all. I am currently competing for the Office Sales Person of the Year for 2015, after receiving the Rookie of the Year award for 2014.

What or who inspires you?

I’m inspired by the success of those I work with and I’m proud to be working under the Peter Blackshaw name.

The support I receive from our administration staff allows me to service my clients with a 110 per cent positive attitude as my commitment to them is

What do you enjoy most about Elite Agent magazine?

As always, there are lots of publications doing the rounds of real estate offices, either by hardcopy or by email. I first heard about Elite Agent through Facebook and we also have an office subscription. I enjoy reading about the different ideas other agents have, other agents’ experiences, information about the local and interstate markets and anything that will enhance my skills and knowledge.

I’m inspired by the success of those I work with and I’m proud to be working under the Peter Blackshaw name. paramount. I also have positive quotes around my desk and a photo of Hawaii, which is my holiday destination this year. I recently received the gift of a blue heeler, Buddy, from my girlfriend for my last birthday, which was the best present ever.

I look forward to coming home to them each day.

In your briefcase right now is …

My briefcase is like a part of me; I always have my property brochures, iPad, business cards, pens, and agency agreements – lots of these! You never know who you may meet each day.

What could you not live without?

Downtime is very important to me in my career as a sales agent.

More often than not we’re on call 24 hours a day, seven days a week. My family have been a great support of my move to real estate and I can say ‘I love coming to work each day’ as I love my career.

Favourite piece of technology?

Where would we be without

8 ELITE AGENT • JUL-AUG 2015

the use of phones, computers, iPads and search engines?

I’m never far away from any of these – including my client database, which is the most important resource I have on all my devices.

What advice would you give someone just starting out in real estate?

I would advise anyone just starting out to work with an experienced agent for the first 12 months. I was sales assistant to a multiple award-winning agent and during this time I gained insight, knowledge and confidence to allow me to adapt and grow quickly in my role as a sales agent. From here I was able to grow a client database before I started working solo.

Find and have a great mentor; my principal, Michael Braddon, is someone I hold in very high regard. He always has time to share his knowledge regarding the industry – not only to me but to our whole team. We benefit from taking on board his experienced views.

Work within an agency that can give you premium administration support to allow you to list and sell. We have fantastic admin support at our office, which gives my colleagues and me extra time to be out in the community meeting new clients.

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REIQ Summit offers secrets of success The REIQ Summit is a two-day conference that no real estate professional can afford to miss – with an array of spectacular speakers who will inspire, provoke and galvanise.

Day two of the conference is focused on the whole real estate profession and will be headlined by the US queen of real estate, Dolly Lenz.

Fresh from selling Rupert Murdoch’s Manhattan apartment (for $US 53 million!), Dolly will reveal the secrets of her success, outlining how others can adopt her client-centric strategy and succeed in a real estate career.

REIQ CEO Antonia Mercorella said Ms Lenz’s story was an incredible one. “Dolly’s successes are breathtaking – she began her professional life as an accountant and quickly transcended to the stratosphere of the real estate world,” she said.

“While she was with real estate firm Douglas Elliman, Dolly won their top honour – an award based on gross commission income – eight years in a row before retiring from the competition to open the floor to her colleagues.

“Her achievements are legendary in the real estate profession and she pioneers the way for a new breed of super-agent,” Ms Mercorella said.

Wealth builder and founder of Yellow Brick Road financial planning business, Mark Bouris is a disrupter who has turned his small idea into big business, leveraging it to become one of Australia’s most notable financial experts.

Star of the Australian version of The Apprentice, Mark’s unique leadership and mentoring style have helped many create their own pathways to success. He will be sharing tips for entrepreneurs on how to capitalise on their great ideas and turn them into reality. He will also offer guidance and advice on ways to build personal wealth and professional success like a boss.

Understanding the secrets of body language can be a hidden superpower. Leading expert and pioneer in the field of deconstructing body language, Allan Pease will be teaching the skills to help win that pitch every time.

“Everyone knows who Allan Pease is. To learn the secrets of mastering your own body language from the king will be a vital session for every real estate practitioner,” Ms Mercorella said.

Other speakers include Lee Woodward, real estate coach and listings expert Tom Panos, CoreLogic RP Data’s Tim Lawless, REIQ Sales Person of the Year Brett Andreassen, Dr Adam Fraser, and real estate business expert and leadership teacher Mandy Wurth – to name just a few!

10 ELITE AGENT • JUL-AUG 2015

Close more sales with Deposit Power’s Home Equity Deposit Guarantee Are your clients asset rich but cash poor? If the answer is yes, Deposit Power can help set you apart from the crowd by giving them the freedom to purchase their dream property today.

Agents need to provide a high level of service in order to maintain the loyalty and trust of their home buyers. The most successful representatives go beyond the basics of buying and selling a home and look for ways to simplify and speed up the sales process, which in turn allows them to sell more properties. This often means they will be required to assist clients with financing solutions.

With Deposit Power’s new Home Equity Deposit Guarantee option, agents are one step closer to helping their buyers secure their property quickly and easily. Potential buyers with established equity in their home may now access a deposit guarantee without the delay of waiting for their loan to be approved.

“Our customers were looking for a more flexible alternative for their clients,” says Deposit Power’s General Manager, Keith Levy. “We had real estate agents, mortgage brokers and conveyancers with customers who were asset

rich but who were waiting on their loans to be approved or their houses to be sold.”

With Deposit Power’s Home Equity Deposit Guarantee option, a deposit guarantee can be issued for up to 10 per cent of the purchase price on residential homes and investment properties, depending on the amount of equity a buyer has in their existing property, with a maximum settlement term of six months.

“The aim is to make the home-buying process easier and faster for people who need an immediate deposit. The Home Equity Deposit Guarantee option gives buyers the freedom to purchase and provides a functional way for agents to sell more properties and close sales quickly.

“Agents with this information and the product at hand can provide their clients with a complete sales solution. They are able to offer a flexible finance alternative, allowing their clients to secure their property on the spot,” Levy adds.

For more information please contact Deposit Power at info@depositpower.com.au or call 1800 678 979 to speak to a dedicated representative.

LJ Hooker launches Auction Services LJ Hooker have officially launched Auction Services, which will see the real estate giant expand services to cater for the full selling experience.

LJ Hooker Auction Services which will operate in NSW and the ACT, will provide a superior auction experience which includes onsite and inroom auctions, ongoing training programs and forums and vendor assistance.

Ricky Briggs, Auction Manager at LJ Hooker Auction Services said,

“Not only will the business be providing on site and in room auctions but will also be working with LJ Hooker regional teams around training programs and forums.”

“We will be assisting LJ Hooker offices who are yet to adopt auctions to implement the selling method into their listing tool kit and helping those offices already

using auctions to further improve their systems.”

According to LJ Hooker Head of Real Estate, Christopher Mourd, the agency is set up to support the LJ Hooker network where auction is the preferred method of sale.

“One in three of our listings in NSW and ACT are to be auctioned so the need for specialised services within the network is apparent,” he said.

The auction team is made up of experienced auctioneers Ricky Briggs, Jon Craven and Ben Mitchell.

“The team is made up with a wealth of knowledge and experience, Ben and myself have both come from national auction teams,” Mr Briggs said.

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UPFRONT

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Never cold call again ‘Cold calling’ is the term used to describe prospecting by phone to people you have never spoken to before. Cold calling in and of itself produces mediocre results at best. But team that up with a marketing strategy for the long term, and suddenly phone calls present an attractive proposition. Carl Quested, director of AgentMail, explains more.

“The cold call is a necessary evil – you need to start the relationship somewhere. But whilst the puns and comparisons between real estate and dating are plentiful, it holds true that you wouldn’t (or shouldn’t) ask someone to marry you before you buy them a drink.

“Cold calling to generate listings works on a low hanging fruit mentality. With only around three per cent of the market selling at any one time, you can’t expect to get that many hits from a cold call. But when you build a strategy around the call that focuses on gathering intel, providing useful

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12 ELITE AGENT • JUL-AUG 2015

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information and creating the start of a relationship – suddenly you’re on a real live date!

“I don’t recommend cold calling just to get listings – the numbers simply do not stack up. Of 100 calls, you can only expect three to five people to actually have an interest in what you are selling. But start creating a conversation around real estate, and you might find people open up some more.

“We have entered the telemarketing space, not to offer simply another way for agents to avoid making calls – but to provide a focus on relationship building and identifying the people agents need to be speaking with right now.

Growing and nurturing, not churning and burning.

“For agents who have been considering adding a PA as their workload increases, this is a great stepping stone: to get effective calls made by professional, certified telemarketers.”

For more information visit agentmail.com.au.

Scan t ow our vid atch eo

EVERYONE IS TALKING ABOUT…

FOREIGN BUYERS: ARE THEY A POSITIVE FOR AUSTRALIA’S HOUSING MARKETS AND ECONOMY?

DR ANDREW WILSON, Senior Economist at Domain

Group, analyses the findings of the recent Parliamentary Enquiry into the effects of overseas buyers on the real estate industry, including how increases in foreign students are driving purchasing and rental activity.

AUSTRALIAN HOUSING markets have

generally activated over the past three years through a significant improvement in affordability and confidence.

The sharp cuts in interest rates from late 2011 to 2013, to the lowest official rates in 60 years, has been the key driving force for increased buyer activity and prices growth.

The Sydney housing market has been the leading performer of all the capitals over the past three years, with decade-

14 ELITE AGENT • JUL-AUG 2015

high prices growth. With prices rising strongly and concerns over affordability, renewed focus has been generated on the role of foreign buyers, particularly in the top-performing Sydney and Melbourne housing markets.

The rules for foreign investors in Australian housing markets are clear.

There are no restrictions for buyers of new property. This is particularly beneficial for the Sydney market, where

underlying prices growth has been driven through a chronic imbalance between supply and demand.

Concerns have been voiced that the level of foreign investment, particularly in the Sydney housing market, has contributed to strong prices growth in that city. The latest data from the Foreign Investment Review Board (FIRB), however, indicates that the contribution of foreign buyers to housing market activity is minimal.

The FIRB approved 7,195 applications by foreign buyers for established home purchases in Australia over the 2013-14 financial year. This represented just 2.4 per cent of all established house title transfers registered nationally over the same period, according to the ABS. Victoria recorded the highest number of established home purchases by foreign

buyers over the year with 3,483, followed

by New South Wales, well behind, with just 2,353. Victoria unsurprisingly had the highest proportion of foreign established home purchasers to total established home sales at 4.1 per cent, with New South Wales again well behind with just 2.4 per cent.

The Federal Government, showing concern over the level of foreign investment in Australian housing markets, has recently conducted a Parliamentary Enquiry examining the issues.

The Committee recommended no change to the existing rules for foreign purchasers, reflecting confidence that price inefficiencies were not occurring and that new investment was a positive for the market and the economy generally.

The Committee, however, recommended changes to the monitoring of foreign investment activity, enforcement of the rules and new penalties for breaches.

An application fee will be levied to cover new audit, compliance and enforcement of the rules. There will be stronger civil penalties for breaches and foreign purchasers will be required to sell the

property within three months of it ceasing to be the principal residence.

Following up the Committee’s recommendations, the Federal Government announced in the Budget new fee structures for foreign buyers of real estate, with a $5,000 application fee for purchases under $1 million and

international students enrolled at Australian educational institutions in the year to date this April, an increase of 11.2 per cent compared to the year to April 2014. Foreign students are also an important driver of Australia’s real estate industry through purchases and rentals.

Given the decline of Australia’s resource

Concerns have been voiced that the level of foreign investment, particularly in the Sydney housing market, has contributed to strong prices growth. $10,000 for properties valued over $1 million, plus an additional $10,000 fee increase per additional $1 million in property value.

Foreign investment in Australia’s housing markets remains beneficial, but activity levels must be accurately monitored.

Many, if not most, temporary visas granted to foreigners are for students studying in Australia. The Federal Department of Education and Training reported that there were 433,936

sector and the transition of our economy into other mechanisms for generating growth, the education export sector will become increasingly important to our economic wellbeing, inclusive of its benefits to the property sector.

Dr Andrew Wilson is Domain Group Senior Economist.

Follow him on Twitter @ DocAndrewWilson.

eliteagent.com.au 15

FIRST PERSON

Josh Phegan

Making a move

IT’S AN AGE-OLD QUESTION that both excites and perplexes

many real estate agents: When is the best time to expand into a new market?

This questions is usually then closely followed by ‘How do I decide which areas to expand into?’ and ‘How do I ensure I’m successful?’

On the one hand, expanding your business is exciting; but on the other it may be a tad scary.

It need not be. Setting yourself some clear business goals can pave the way to smooth market expansion.

Once upon a time, deciding where your core market should be was as simple as selecting 1,000 homes and working that area.

The trouble is, not all properties are equal; some suburbs may be tightly held and have low turnover, while others trade quickly. So better questions to ask yourself are ‘What am I trying to achieve, and what do I need to do to get there?’

If you want to sell 100 homes at an average fee of $10,000, then you need to achieve a 10 per cent market share in 10 markets of 1,000 homes at a rate of 10 per cent turnover.

It’s also important to remember that the traditional model of selecting your coverage area, suburb by suburb, is a little tired.

Buyers don’t just shop by suburb but, more often, by the lifestyle they’re seeking, such as beachside bliss or inner-city convenience.

If you want to cater to buyers seeking a sea change, your coverage area might range from Bondi to Coogee; or if you’re catering for the innercity market, your area might be Darlinghurst to Surry Hills.

The key is to make sure you

16 ELITE AGENT • JUL-AUG 2015

Focus on one listing at a time, and make sure every aspect of that campaign is a success. The more successful campaigns you run, the more social proof of your expertise you will gather. cover the gamut of price points.

If you have properties on the market for low, average and high sale prices then you’ve covered yourself if one market slows down.

Once you’ve achieved dominant market share in your core area, that’s when you can branch out and expand the region you cover. If you follow your careful business planning you’ll know when your existing coverage area is no longer large enough to meet your goals.

Some agents will want to

take a small slice of a large pie, such as covering an extensive geographical area, while others want to take a hefty chunk out of a small pie, such as electing to be apartment specialists. Either option can work.

Market expansion can also help you raise your average sale price – but how do you decide which areas to expand into? The adage ‘it’s not what you know, but who you know’ rings true here.

Using a mapping service such as batchgeo.com, jot down where all the people you already

know live. Think past market appraisals, past clients, existing landlords and previous clients of your brand. Where the greatest collection of dot points fall, that’s where your new market is.

It’s also vital that you work on getting as many ‘trade-ins’ as you can. Trade-ins cause a domino effect, where a vendor who sells in the lower end of the market buys a home in the medium price bracket, while a seller in the medium price bracket buys a high-end property, and so on.

Sales in the lower price brackets can help you achieve goals such as building a large property management business, while average sale prices keep you in a safe market regardless of economic conditions.

To build your profile in a new market, the key is to network with and put your name in the mind of as many people as possible. Network with the local business owners.

Ask yourself if you manage any rentals in the area? Do any landlords live locally? Have you sold for or to anyone in the area?

One great listing will lead to another and then another.

The secret is to focus on one listing at a time and make sure every aspect of that campaign is a success. The more successful campaigns you run, the more social proof of your expertise you will gather. This will give you more tactical evidence to pitch for and gain the next listing.

The pitfalls to beware of when expanding are moving before you’re ready. Make sure you maintain your market share in your primary area before chasing secondary regions. It’s also important to work in markets that complement each other.

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

Andrew Robinson

It’s a balancing act BELLE PROPERTY PERFORMANCE Coach Andrew Robinson

suggests the best way to lead and motivate your team is by setting a good example which incorporates both building your personal business and spending quality time with your team.

Successful agents and high-selling principals lead the majority of real estate businesses these days. Agents starting out need guidance and motivation, and they look to their principal for leadership and knowledge.

The most successful offices I work with are those led by a principal who works tirelessly, not only on personal sales and profitability, but also by spending quality time with the agents and staff within their business. Principals who share their industry knowledge and experience with their agents foster a better team of working professionals. It’s a win-win structure; it’s leadership from the front.

YOUR PERSONAL SALES BUSINESS Have you set your ‘big three’ goals within your personal sales business? Do you have a structure around your Effective Business Unit (EBU)? Do you meet with your EBU frequently, and discuss how you are tracking towards your personal and collective sales targets?

If you answered ‘no’ to any of those questions, it may be wise to re-evaluate your priorities and business structure so that your sales business and office do not go off track.

It’s important to write down your individual sales goals and to communicate them with your EBU and office. By having transparency around individual and business goals it will ensure everyone is working towards a common objective.

In today’s marketplace, it’s essential to have daily ‘alignment meetings’ or ‘clarity sessions’ with your EBU. By tracking the progress of individual tasks, and more importantly your own personal pipeline, you reduce the risk of losing opportunities you’ve worked so hard to grow.

Conducting regular meetings with your EBU, roughly five

18 ELITE AGENT • JUL-AUG 2015

to 10 minutes a day, will give your team more guidance and clarity, in turn increasing overall productivity.

Do you know what is motivating your team? Does each individual have a set of goals and a plan to become successful? Setting goals with your EBU and working towards them as a team is ultimately how sales agents should work. If your team members all know what their own objectives are, and those of the overall business, then the whole office will work more collaboratively to achieve them.

PERSONAL PROSPECTING PERFORMANCE As a principal, how hard have you been prospecting lately?

What type of prospecting are you doing? Many of my coaching clients say, ‘I wish I could hear other agents around me prospecting; it

you? This is your opportunity to lead! Get your entire office together for two hours a day to prospect, and create an energetic environment where people can learn from others.

Over 1000 sales consultants

DEDICATING TIME FOR YOUR OFFICE As a principal, how hard is it to stick to an ‘ideal week’ when you are often distracted by other members within your office asking questions or needing direction? Having an ‘ideal week’ is what all agents genuinely work towards, yet many distractions can occur that throw the week off course.

Being distracted during these times can completely ruin a prospecting session and other dollar-productive activities, and it takes time to refocus.

It is vitally important for you as principal to have dedicated time for your staff, making yourself accessible to answer questions and lead your

Think back to when you started out as an agent. How motivating was it to see peers and leaders prospecting around you? motivates me to get on the phones too.’ Some agents even question ‘but I don’t see the principal doing it’, so they lack the motivation and encouragement to action it themselves.

More often than not, it isn’t necessarily the team’s fear of prospecting but confusion around what type of prospecting they should be doing. I remember wishing I could hear other people in the office prospecting around me; I wanted to learn the effective ‘one-liners’ and dialogues that other agents used.

Think back to when you started out as an agent. How motivating was it to see peers and leaders prospecting around

team. I recommend making yourself available to your team at the very beginning of the day, when tasks have not yet filled your plate and people are generally fresh. Having received the answers they need from you, your office can then be more productive and efficient for the rest of the day.

Andrew Robinson has risen quickly through the ranks of the property industry, from being a sales assistant at age 18 to an accredited auctioneer at 21 and a principal at 22. Andrew now shares his wisdom and experience to develop Belle Property professionals as a trainer and coach at the Belle Property Academy.

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eliteagent.com.au 19

FIRST PERSON

Tanja M Jones

The gift of listening and the power of presence ACCORDING TO THE INTERNATIONAL bestselling author of The

7 Habits of Highly Effective People, Dr Stephen R Covey, most people listen not with the intent to understand, but the intent to reply. If you have your own agenda instead of giving someone else your full attention, you may be missing out on getting the most out of this powerful tool.

Recognised as one of TIME Magazine’s 25 most influential Americans, Stephen R. Covey was one of the world’s foremost leadership authorities, organisational experts and thought leaders.

In my personal experience, his ideas could not be truer.

Many of us think we are really good listeners; we do all the right things; we make eye contact, nod and are seemingly engaged. But, more often than not, we are actually listening to our ‘internal voice’ that is

20 ELITE AGENT • JUL-AUG 2015

agreeing, disagreeing, judging and assessing what the other person is saying.

Depending on the nature of the conversation, we are often also preparing our response, crafting our defence or sometimes completely distracted by our mental ‘to do’ list, including the bills we need to pay, the calls we have to return and the birthday card we’ve forgotten to buy.

The Gift of Listening is the ability to really ‘be over there’ with others; to have them feel

that you are deeply engaged in what they are saying and interested in their perspective.

When we leave our own agendas or concerns behind, especially with respect to time we leave other people feeling valued, honoured and deeply appreciated. This simple act builds a good foundation for effective relating.

Whether you are a director, in sales, property management or administration, the Gift of Listening is a powerful way to deepen connection as it elicits

trust. It is a brilliant tool to use, both internally with teams and externally with clients, stakeholders, families and communities.

Many of us have heard that it takes seven seconds to make a first impression. This means potential buyers have decided whether they like you, trust you and want to work with you, often before you’ve even had the chance to say ‘Hello’.

So how can we elevate our ability to connect, and what are the best ways to increase likeability? How can we increase the probability of successful listings and problem-solve effectively in property management?

BE PRESENT Some 98 per cent of what we do stems from our subconscious, which is always trying to resolve tension. It is constantly sorting through our thoughts, feelings and physical state.

When we are worried we are in the past; if we are experiencing anxiety we are concerned for our future, yet all we can ever be is right here, right now. People can feel it when you are ‘with them’.

International bestselling author Eckhart Tolle writes extensively about this in his acclaimed book The Power of Now. The best way to be present is to dissolve the tension that exists in our subconscious. This is a powerful practice to do before a listing presentation, attending a meeting, calling an auction or phoning an upset tenant or landlord.

HOW TO DISSOLVE THE TENSION Step 1 Observe and acknowledge your thoughts.

What you are thinking right now? Just stop and notice what’s on your mind. There is no need to attach to your thoughts, just witness them and release them.

Step 2 Observe and acknowledge how you feel. Stop

and ask yourself, ‘How do I feel right now?’ and take a moment to notice what’s obvious. Are you anxious, frustrated, happy, tired or stressed? Simply acknowledge your emotional landscape, breathe deeply and let it go.

Step 3 Acknowledge your physical body. Take your awareness to anywhere you feel tense or sore; perhaps you have an injury that you’re managing.

Drop your shoulders, relax your

respond with empathy.

International bestselling author and Ted Talk sensation Dr Brene Brown says that “empathy fuels connection and sympathy drives disconnection”. She highlights that there are four qualities to empathy.

1. Perspective taking: the ability to take the perspective of another person and recognise their perspective as their truth.

2. Staying out of judgment:

across more than 300 agencies

More often than not, we are actually listening to our ‘internal voice’ that is agreeing, disagreeing, judging and assessing what the other person is saying. belly, take a breath and let go.

This process sends a simple yet potent message to your subconscious that you have ‘witnessed’ the tension, therefore it doesn’t have to spend all its energy resolving it; it can simply be. This creates stillness and expands your state of presence.

Once you are present you are able to truly be with another. The Gift of Listening is the ability to listen beyond the content and tune into the deeper context the person is offering.

CONSIDER THE THREE LAYERS OF LISTENING Layer 1 What the other person is saying, the actual words they are using.

Layer 2 What they are worried about – the things they want to avoid or are concerned about.

Layer 3 What they’d love, their desires, plans and dreams.

Most of the time we are not really listening; when we do respond we usually go straight to the second layer and unconsciously activate the concerns of others. You want to avoid doing this as it only amplifies their stress levels.

Really good communicators

this can be a hard one for many, as we like to be right.

3. Recognising emotion in other people.

4. Communicating the emotion back to others.

To demonstrate empathy and truly build connection you need to have others feel that they have been clearly heard by you.

The way to achieve this is by ‘reflecting’ what they’ve said.

So when it comes to listening try this method.

Step 1 Show up and be present.

Step 2 Actively listen for what they’d love.

Step 3 Respond by first acknowledging what they’d love then come back to their concerns and reflect them with empathy.

Ultimately, be in the moment with others, for this moment is a gift; that’s why it’s called the present.

Tanja M Jones is a Leadership, Mindset and Peak Performance Specialist. Her clients are usually real estate COOs or GMs who want up to 40 per cent more time to grow their business. For more information visit tmjcoaching.com.au.

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eliteagent.com.au 21

FIRST PERSON

Simon Whale

The Whale Way: Views from a Property Pom

SIMON WHALE DISCUSSES how physically mapping your clients

and prospects, both past and present, can deliver invaluable information about where you should be growing your business.

It seems ironic that most CRM systems started off their lives many moons ago as matching systems and yet most agents today will tell you how poor their systems are at helping them in this vital area. Many end up just doing it in their heads; or worse, just spamming buyers with everything – hardly a tailored service.

One of the most important roles of an agent is to understand the needs of the buyer. The phrase ‘location, location, location’ is true wherever you are in the world. Descriptive areas are subjective and therefore open to different interpretations; postcode areas are too broad and inaccurate, so mapping is the only way to cater for the discerning buyer.

Real estate territory is, and has always been, defined in niche ways. Geographic boundaries such as rivers, roads and railway lines shape and

differentiate the hot suburbs from the less desirable ones.

If a buyer has to move to a particular street or wants to move within a certain school zone, only mapping delivers; and if you haven’t got this in your tool bag then prepare yourself for the inevitable criticism. ‘Why do you keep sending me these properties when I’ve told you what I want?’ Many of these buyers will have a property to sell and are therefore potential vendors; are they really going to consider giving you the listing?

But this is about far more than just fixing the matching process. Mapping runs central to the entire system, so you can plot your past clients on a map, or current stock listings and indeed competitors’ listings. Some of our clients are using these mapping tools to highlight strong areas of business where they don’t currently have an office, giving them invaluable clues about

These quite unusual geographical trends are not necessarily obvious on a spreadsheet, whereas on a map they jump out at you.

22 ELITE AGENT • JUL-AUG 2015

where to grow their business and focus their marketing.

Mapping can also play a vital role in prospecting for business. For example, if a buyer wants to live in a

particular school zone and you don’t have any listings available, why not call up all past market appraisals, landlords or historic sold properties in the zone and see if you can meet the buyer’s needs by introducing the buyer to some of these potential clients? At the very least it gives you a reason to contact the prospect and demonstrate that you are active in their market.

You can go with options like BatchGeo with its online tools, but as we all know it needs to be integrated seamlessly for anything to work properly.

We took the view some time ago that mapping was vital and so we have natively integrated with Google Maps across all areas of our system. Matching, the ability to plot your data and power reporting are all harnessing

the potential of the world’s largest geolocation service to bring your business to life.

Leading coaches like Josh Phegan have talked about the importance of geotargeting for some time; in fact, he works with many of our leading clients in the UK, helping them maximise their ability to prospect by visualising this data.

Last month, during the Sunday Times Awards in London, the UK’s largest portal, RightMove, announced an innovative lead generation mapping tool. It allows agents to plot on maps where their landlords are, and the areas their tenants are interested in, allowing them to overlay both and address imbalances.

RightMove’s stats show that 46 per cent of landlords in the UK live more than 15 miles away from the property

they’re letting, whilst 33 per cent live more than 40 miles away. These quite unusual geographical trends are not necessarily obvious on a spreadsheet, whereas on a map they jump out at you. It’s clear to me, and indeed to our best clients, that agents who aren’t using the power of geotargeting are missing a trick and will undoubtedly also be missing opportunities.

As for harnessing the power of mapping to exploit referrals between your sales and property management departments all on a single CRM system, that’s a story for another day!

build their brand with

Simon Whale is a Director of Reapit, the UK’s leading provider of Real Estate CRM software, now also available in Australia. For more information visit reapit.com.au.

1300 505 539 industriemedia.tv Leaders in quality real estate digital media SYDNEY I CANBERRA I BRISBANE I GOLD COAST I MELBOURNE I ADELAIDE I PERTH

eliteagent.com.au 23

Tech in the city Lisa B

Instagram: Every picture tells a story In 2012, Kevin Systrom and Mike Krieger sold Instagram to Facebook for a healthy sum of $1 billion: $300 million in cash and the rest in Facebook stock. And as one of the fastest growing social media platforms right now, it appears to have been worth every cent.

A

t last count, there are over 300 million active users on Instagram; over 90 per cent of those are under the age of 35. Young people seem to like the platform the most, as they know that their parents are probably still hanging out on Facebook!

Females are the more active users, having a reported 68 per cent ownership of those accounts. With such a large user base it is very easy to develop your brand in a creative way.

excellent photo-filtering options with various ways to make your photos look amazing, such as putting borders around your photos and adding special effects. When you post those photos to other sites via Instagram they retain your photo-filtering and effects.

To me, Instagram is like telling a story in one photo. That’s where the art is. Of course, uploading your photo to include hashtags as mentioned, with relevant words so people can find it, is crucial. If your aim is to get followers, you want to be found and for people to like what they see.

As with any social media platform that you intend to use to attract business, think about the way you present yourself.

Why would anyone want to follow you? What are you going to share in your posts? What’s your message? Are you going to put a mixture of funny and

Instagram is actually one of the easiest (and fastest) ways to share your photos to other social media sites.

WHAT USERS LOVE ABOUT INSTAGRAM Instagram is actually one of the easiest (and fastest) ways to share your photos to other social media sites such as Facebook, Tumblr, Flickr and Twitter. To share across the other sites, all you need to do is link your other accounts and then post your photo to Instagram. Your updates will be automatically sent to the other social media platforms you nominate.

Instagram also has some

24 ELITE AGENT • JUL-AUG 2015

WHAT DO YOU WANT TO ACHIEVE? If you are not yet on Instagram, as with any other social media site – wait! Think about what you are doing and why you are doing it. If you are looking at the platform to help you get listings or make sales, before you jump in and decide to take on Instagram as well remember to prepare a social media marketing and prospecting plan and stick to some basic strategies.

motivational posts? Are you going to let people see a little of your life? Design your theme and your brand. Don’t make everything about your work as a real estate agent. Trust me, no one wants to see every single one of your listings.

HOW TO GET FOLLOWERS If you have a big presence on Facebook, it will be relatively easy to convert other users of Instagram connected to you through that platform.

There are a number of ways to connect you to others in your networks, such as a function to invite friends from Facebook.

Another way is the effective use of hashtags. Remember that your aim as a local real estate agent is to have locals become your followers. There is no point in you having people all over the world. It’s unlikely they will be selling or buying property in your area.

WHAT TO POST If you are going to use Instagram to enhance your brand or to attract business, here are some ideas of things to post.

• Great photos of the local area • Interesting shots of local well-known people • Gorgeous designs of kitchens and bathrooms • Look for beautiful angles • Amazing views • Beautiful furniture • Striking and unusual pieces • Represent your brand in pictures • Photos of staff • Beautiful gardens • Amusing and/or funny things that represent your brand.

Keep adding to your collection of photos to keep the interest going.

Join Lisa B online in her 10 week real estate marketing course.

You can participate from wherever you live in the world.

For more infomation visit realestatemarketingacademy. com.au.

Health Science Emily Schofield

Manage your stress levels for success Leading up to Spring ‘selling season’ you will be able to perform much better overall if you keep your stress levels under control. While being super organised will help, there are some extra things that you can do that will help you attain peak performance. Exercise Scientist Emily Schofield explains.

A

cute and chronic stress affects many people to varying degrees.

I frequently see clients who are plagued by stress, and the physical and mental issues associated with being stressed due to their work or their working environment. Little do people realise that stress wreaks havoc on our mental health, body composition and productivity. It makes us tired, accelerates the aging process and can prevent us from reaching optimal productivity in our work.

The health-damaging behaviours associated with the feeling of being ‘stressed out’ all play their part.

As mammals, the ‘fight-orflight’ response is hard-wired into us as a physiological response to stress. Physical changes evoked by the fight or flight response include an elevated heart rate, elevated blood pressure, slowed digestion, decreased immune system and increased release of cortisol (cortisol is a stress hormone that is closely related to fat storage, especially around the midsection). For this reason people who are chronically stressed may not be able to lose fat, even if they are doing everything right from a training and dietary point of view.

The fight-or-flight response is intended to prepare the body to respond quickly to a

harmful event, attack or threat to survival. However, everyday stressors that provoke such a response put significant stress on the body. For individuals who experience stress as a part of their daily life, the chronic elevation of these mediators (such as a chronically increased heart rate and blood pressure) produce wear and tear on the cardiovascular system. Over time this can result in serious health issues.

Reducing stress and balancing cortisol levels is essential if we are looking to attain peak performance, gain more energy and achieve optimal body composition – that is, more lean muscle and less body fat. When cortisol is chronically elevated, the body thinks it needs to store fat around the midsection so that it will have an easily available source of energy in the event of more intense stress. It may also leave you feeling tired and run-down.

However, stress can be managed effectively through various means.

1. Follow a strength training program. Strength training stimulates the body’s antistress system; it also builds muscle, gives you more energy and makes you feel good.

2. Supplement with magnesium and fish oil. I recommend all my clients supplement their diets with magnesium, which is

an anti-stress mineral that helps calm the nervous system, resulting in an improved quality of sleep and helping to lower cortisol levels. Omega 3, found in fish oil, is proven to decrease inflammation within the body, and this helps fight the sensations of stress.

3. Reduce alcohol intake.

Alcohol is not a sleep aid; in fact, it reduces the quality of your sleep. Less sleep = higher cortisol = more stress on body. Alcohol may help you fall asleep more quickly, but it reduces Rapid Eye Movement (REM) sleep, causing disruption to your sleep pattern.

4. Improve sleep quality and quantity: get an early night.

Staying up late stimulates the release of stress hormones, which trigger the fight or flight response in the body. As mentioned above, take magnesium to regulate serotonin levels and improve your quality of sleep.

5. Eat! All too often people who are stressed go too long without eating, sending cortisol levels even higher. Eating will reset your hormone cascade and reduce cortisol. Choose low glycaemic, protein rich foods, removing all processed foods for more effective fat loss.

6. Have four hours of just straight plain fun. This means spending time

without purpose; play with your kids in the park or go for a walk. No one on their deathbed ever wished they spent more time in the office!

Cut back on things that you don’t really need to do.

If you can’t decide what they

No one on their deathbed ever wished they spent more time in the office. are, ask yourself: if someone dear had fallen ill and you had to take care of them, what activities would you reduce or eliminate altogether?

Sometimes the answers become pretty clear, and by taking care of yourself you will ultimately end up doing a much better job for your clients, your family and yourself.

Emily Schofield is an Exercise Scientist, having completed a Bachelor’s degree in Sport and Exercise Science. She is a Personal Trainer at Vision Personal Training, North Sydney. For more information visit visionpt.com.au/studios/ north-sydney.

eliteagent.com.au 25

Business Depot John Knight

The good, the bad and the ugly When was the last time you had a “no holds barred” discussion about what is working and what’s not working in your business? John Knight from Business Depot has some tips for effective team workshops that will prioritise the your most urgent actions.

J

im Collins was spot on when he said you need “the right people on the bus”. But not only do they need to be on the bus; you need them all facing the front with someone at the steering wheel.

With growth back on the agenda for so many real estate agencies, we are having more and more discussions about the ‘people’ side of business. What are you doing to maximise the positive impact your team has on your business?

What are you doing to maximise team engagement?

Team engagement is so much more than Friday afternoon drinks. When you have an engaged team, the business will be nimble – decisions are easier, you are more trusting of your team and performance tends to go through the roof.

So where do you start? An alignment of values and clarity of vision are essential ingredients for any engaged team. Next, though, comes communication.

When I talk about communication I am not talking about a high-level conversation about their latest listing or their next planned vacation. I am talking about a deep two-way conversation about the interests of the individual and the interests of the business as a whole.

A great way to get the conversation started is with a team workshop – I often use one we call a ‘Good, Bad, Ugly’ workshop. Usually the workshop

26 ELITE AGENT • JUL-AUG 2015

will go something like this: 1. Set the scene and set the tone of the conversation. Do not hold the team back from talking about anything they want. Let them know you want to hear their thoughts and that there will be no repercussions for speaking their mind (something you must adhere to).

2. Reflecting on the past 12 months, what has been good? Use a whiteboard

An alignment of values and clarity of vision are essential ingredients for any engaged team.

or butcher’s paper to summarise what is discussed - I do a mind map with ‘good’ as the mind map subject. It is critical that the findings are visual, as this allows discussion points to be linked, for people to explain their point further or to refer back to something already mentioned.

3. Reflecting on the past 12 months, what has been not so good? Again, use a whiteboard to summarise in a separate mind map what they say was not so good about the past 12 months.

I always write ‘bad’ as the mind map subject first but then cross it out and write ‘not so good’ to broaden the discussion to include wider areas of improvement.

4. Hand out the whiteboard markers and ask every person in the room (all divisions, all levels – yourself included) to tick the top three items that, in their view, would lead to more success in the business by enhancing the good items or fixing the bad ones.

5. Summarise the top three items (those with the most ticks). You will find some items are similar or clearly linked. Group these items together and summarise the top three areas of improvement.

These workshops are a great way to get the communication flowing with the team. You can facilitate these discussions yourself but an external

facilitator can often help. In my experience, the team want to contribute and want to make a difference – they just need to be given the opportunity.

Ideally, once you have your ‘top three’ you can then schedule follow-up sessions to determine together the actions required.

My top five tips for facilitating a great ‘Good, Bad, Ugly Workshop’: 1. It must be visual (write with chalk pens on the windows if you need to) 2. Don’t be defensive and don’t offer solutions (everything should be written on the board) 3. Principals and/or senior management can set the scene early on (say something early on that shows you really want a completely transparent discussion maybe even controversial) 4. Adding an anonymous employee survey beforehand can help with big teams (presenting the findings will ensure nothing is missed) 5. Don’t be tempted to choose more than three items (you can always come back and address the other items at a later date) Good luck! Communicating is only the first step – it is what you do with the findings and observations that matters most.

John Knight is the Managing Director of businessDEPOT, helping businesses of all shapes and sizes achieve their goals.

For more information visit businessdepot.com.au.

Realty Bytes Alister Maple-Brown

New financial year, new technology Updating technology can improve productivity and provide new opportunities for your business. Alister Maple-Brown from Rockend explains.

T

he phrase ‘End of Financial Year’ often brings a combination of dread, stress and fear to the minds of many business owners. Another year has rolled by and we are already in the midst of the new financial year.

Was your tax time stressful and paper laden? If so, now is the time to evaluate your current business processes and technology to determine the best course of action for the new financial year. Taking the time to plan strategically at the beginning of the financial year can help ensure 2016 is your most successful and profitable one yet.

ELECTRONIC DOCUMENT MANAGEMENT SYSTEM Having just finished your end of financial year process you will know only too well that it is a paper-laden procedure.

Collating invoices and clients’ property documentation as well as your own business’ documentation can be many days’ worth of work.

Have you considered transforming your business into a paperless office? Aside from the environmental benefits, a paper-free office streamlines your business processes and data collation.

Implementing an electronic document system such as

WHY INVEST IN TECHNOLOGY? Over the past 20 years technology has transformed the business landscape. A day in the life of a property manager back in 1995 was vastly different to the daily regime of a property manager in 2015. It is hard to imagine what our jobs would be like without the aid of technology; I believe our property portfolios would be significantly smaller without these systems.

The initial upfront cost of technology often scares businesses, but the return on investment is well worth the initial expenditure. Researching and investing in a high quality technical solution for your business can streamline and automate many processes in the office.

Documents can be retrieved and distributed in a matter of clicks, providing your business with time savings of up to 10 hours per week. fileSMART allows agencies to store all of their valuable client and property information in one central location.

The system removes the need for filing cabinets and paper storage in your office, eliminating the manual labour which was previously needed for the search and retrieval of physical documents. Clients’ documents can be retrieved and distributed in a matter of clicks, providing your business with time savings of up to 10 hours per week. Paperless offices are the way of the future and now

is the best time to implement an electronic document management system.

SOFTWARE With such a vast array of software on the market, it’s often hard to decipher the fads from the fantastic technology available. When looking to invest in software for your business, ask yourself these questions prior to purchasing: will this system streamline my processes and will it save time?

A property management business has many moving parts, from inspections to maintenance; there is an

array of processes involved for each property. These all require data entry and documentation. Investing in a feature-rich piece of property management software can reduce your time spent on manual tasks, cut costs and increase your productivity.

The time saved can be spent building your business or improving your customer service offering. Streamline your business and increase your profitability with reliable and feature-rich property management software.

New technology is sometimes overwhelming, but it is something that should be embraced. Look at the current technology in your office and see whether it is improving your processes and saving you time. If it is not, investigate other technologies which can eliminate time-wasting procedures from your day.

Alister Maple-Brown is the CEO of leading property management software provider Rockend. For more information visit rockend.com.au.

eliteagent.com.au 27

Champions

Franchise Award Winners – Harcourts 2015

AUSTRALIA’S REAL ESTATE

industry is continually shaped by hard working, high-achieving professionals who are passionate about their careers and their businesses. Elite Agent Magazine would like to congratulate this year’s Harcourts 2015 Franchise award winners.

Mike Green, pictured with Administration Assistant Kasey Layton, Buyers Agent, Jamie Banks and Top National Sales Consultant, Lee Perry, Harcourts Mandurah, WA

Harcourts Hall of Fame Inductee, Tony Morrison (centre), CEO Harcourts Tasmania, pictured with Mike Green (left) and Harcourts International Chairman of the Board, Paul Wright (right)

Top National Exclusive Lister, Lee Perry, Harcourts Mandurah, WA

Top National Auction Lister, Andrew Chrysanthou, Harcourts Unlimited, NSW

Top National Office for Revenue, Harcourts Mandurah, WA. Team pictured with Mike Green

The Harcourts Coastal team from Qld pictured with Mike Green after winning the Top National Franchise for Revenue

Rising Star of the Year, Chris Butterworth, Harcourts Mandurah, WA pictured with Mike Green

28 ELITE AGENT • JUL-AUG 2015

Auctioneer of the Year, Mark Sheppard, Harcourts Sheppard Property, SA

Top National Property Manager of the Year, Katrina Weidemann, Harcourts Ballarat, VIC

Top National Commercial Harcourts Sales Consultant, Phil Grant, NAI Harcourts Pinnacle Aspley, QLD

cover story

IT TAKES W O MICHAEL CLARKE AND Cherie Humel-

Clarke own the boutique agency Clarke & Humel Property in Manly, NSW. Working in a franchise office for several years before starting their own business from scratch, together they have sold more than $1 billion dollars’ worth of real estate. With Michael’s strength his sales expertise and Cherie’s architectural qualifications and local knowledge, they have proven to be a force to be reckoned with in this super-competitive area. Interview by Samantha McLean.

M

anly is a beautiful suburb on any given day, with the iconic beach, shops and laid-back lifestyle. And the sun is definitely shining at Clarke & Humel Property, where I meet Michael Clarke and Cherie Humel-Clarke for the first time. As a married couple and co-principals of this boutique agency, they have a unique combination of skills: Cherie’s original background is as an architect/project manager for Lend Lease, and Michael’s is in advertising. And their energy together is both positive and infectious.

I start by asking them how they met. “We met, of all places, at a salsa dance class; they put us together as trainee instructors. We got through that together, and the rest was kind of history!” says Michael with a big smile. “I grew up in Orange and moved to Manly. Cherie was the only person I knew here.”

“When I met Michael,” says Cherie, “He was selling encyclopedias. With the way technology was going with CD-Roms and digital, I thought if he could sell traditional encyclopaedias then he could sell anything.” Michael says, “I’d never considered selling real estate at that time; it wasn’t in my family. In Cherie’s, yes, but not mine. But I read this book that Cherie gave me and knew immediately that was what I wanted to do.”

How did you begin to sell real estate together? “We didn’t actually start together,” says Cherie, “I still had my career in architecture. And for Michael it was where everyone starts, making call after call on the phones.”

“When I started, it was from scratch” says Michael. “I didn’t know the area and really I didn’t have the first idea about property in general. I knew I could sell things, but I had no

idea. But, with Cherie’s local knowledge, being born and bred in Manly, plus her architectural background; I was learning what the local buildings were created from, what materials were used and how to talk about these aspects of the property to owners.”

After Michael had gained some traction, Cherie jumped in one day to help when

“Every night we would workshop all the elements in the business; what things made a difference and what didn’t. And we would brainstorm together how we could improve things.”

30 ELITE AGENT • JUL-AUG 2015

Michael’s PA didn’t show up. Cherie recalls, “I stood in on the first open home and thought, this can be done so much better.

It really did evolve from there. I guess also with my project management experience I was able to analyse the business and what Michael was doing with a view

eliteagent.com.au 31

cover story to optimising it. Every night we would workshop all the elements in the business; what things made a difference and what didn’t. And we would brainstorm together how we could improve things.”

“As things evolved,” continues Cherie, “I started to move more into representing the owner on the open home, adding in that bit of architectural expertise, helping the owners with the styling, through to actually renovating the home, dealing with the business and the council codes.

People eventually started asking me, ‘What do you think I should do with my house before I sell it?’”

So it was really about leveraging your individual strengths? Michael continues,

“Yes, Cherie had never ‘sold’ anything, but property and business were in her blood. I had sold everything from lollies to encyclopedias but found Cherie’s property knowledge and business acumen invaluable. And that’s no doubt why it worked. We worked together in another franchise for a long time, but it was a very natural progression for us to say, ‘OK, well, what next?’. At that time there wasn’t the opportunity to take the next step in that franchise, so it was a choice of open another franchise or start on our own. So we started on our own.”

Did you have a clear vision, at the time, of what you wanted your own business to look like? “Yes, we definitely wanted to be premium boutique,” says Michael, “but we talked about what we wanted to do for a long time.” Cherie adds, “Although the feeling is premium boutique, we are happy to sell everything from one bedroom apartments through to multimillion-dollar homes.

And it doesn’t matter what the property is; we operate on the basis that every client’s experience is the same. Their own home, their own apartment - it means the world to them. They put all their eggs in your basket and really it’s a big leap of faith in you. So we thought hard about how we could make sure that every facet of the business and every interaction with every client was top notch, and not just a grab for all the high-end clients.”

How do you generally approach a campaign? Michael responds, “Rather than just taking the cookie-cutter approach, where everything is an auction or everything is a private treaty, we look at every campaign and try to isolate what it is about that particular property that is unique, whether it lends itself more to a particular type of sale. Within that we look at the marketing.

“Our staff are really crucial in this, as is their happiness. Your energy in real estate, in any business, is critical.

Everybody has to have really good strong energy; we’re all here as team members to support one another. I think you can’t do all this just by yourself.”

32 ELITE AGENT • JUL-AUG 2015

What are the stand-out features?” Cherie continues, “It’s about the person as well.

What do they want? Do they want a fast transaction? Do they want to attract international buyers? We really look at the person as well as the property and design something that’s tailored to their needs.”

Michael agrees with her, and adds, “Rather than just looking at how we can sell the property, it really is a case of how can we maximise the result for them. For 90 per cent of people, the most important thing is the highest sale price possible. For some people it’s just as important that they get a quick sell or a discreet sell.”

Now, Michael leads the charge in a sales team of 15 out of 22 staff, while Cherie looks after the business side of things, including the finance and HR side of the business, as well as the property management department. And she still goes to most listing presentations with Michael. “I am at most of open homes, and do follow-ups as well. Some of the buyers relate to me more (because women make eighty per cent of decisions), so at times they contact me; some obviously relate to Michael better. Often when we are going over the day we sort through and work out who is the better person to lead.” Michael adds, “We don’t mind who they deal with, of course; irrespective of the customer’s communication style or preference, we’re able to tailor an approach with great authenticity.”

I point out that half the world are now renovators and that must make Cherie very popular. She laughs, “Yes, I get all the questions, like what can I build? Can I build to the boundary? Can I build out sideways? All that sort of thing they’re really keen to know. Sometimes a buyer will walk into the property and love it, but they can’t articulate why it’s so nice. Is it the light? Is it the ventilation? Is it the way the materials have come together? With my architectural knowledge I can help them articulate what these things are.”

Michael says “It’s not plain selling; it’s being able to realise the full potential of the home. That’s why the asking price is what it is. That’s why this property is worth more. There are, of course, the objective things; and yes, people do make emotional decisions about property. But getting that best price is a combination of things, because while people make emotional decisions, they still like to base it on facts and objective reasons. I think Cherie really helps people to come to an understanding about why they like a particular property; what it is about that home that makes it better, unique, or worth a certain amount of money.”

“Sometimes a buyer will walk into the property and love it, but they can’t articulate why it’s so nice. Is it the light? Is it the ventilation? Is it the way the materials have come together? With my architectural knowledge I can help them articulate what these things are.”

It’s worth noting that Manly is a highly competitive part of the Northern Beaches as far as real estate is concerned. I ask what are some of the other secrets to their success. Says Cherie, “I think there’s one really important thing to mention, and that’s that our staff are really crucial in this, as is their happiness. Your energy in real estate, in any business, is critical.

Everybody has to have really good strong energy; we’re all here as team members to support one another. I think you can’t do all this just by yourself. It’s the team around you; and you have to care for the

team and the training of the team, and have the desire to see them grow.” Michael adds, “Actually, yes; the thing that we are probably most satisfied with right now is the growth of our team. We’ve had a couple of success stories in the past 12 months and it’s something we are really proud of.”

What would their advice be to anyone else who wanted to get out on their own and start their own real estate business from scratch? Cherie says, “You have to be prepared to work really, really hard!”

Michael’s answer is clear too. “Planning.

We planned for years before we went out on our own. They say overnight success is ten years in the making, and it’s not far off!

I think for whatever success that we’ve had recently, it can be heavily attributed to the fact that we meticulously planned it long before we employed it.” And then there is the serious side of the business: Money.

“You have to have enough behind you,” says Michael. “You have to have saved enough to be able to make sure that you don’t open the doors and have to make a sale within the first six months. That is critical.”

Any plans for the future? “Consolidation,” says Michael. “Our focus is very much on growing the people that we have and helping them realise their goals. That and keeping our level of service consistently high through every aspect of the business.”

eliteagent.com.au 33

sales

Successful Spring Selling

WHILE THE WEATHER may still be chilly, it won’t

be long before the sun shines on the traditional spring selling season in a couple of months. So the time to prepare is now! We asked Stuart Benson of Domain to share his thoughts on how to maximise your time now to maximise this important time of the year.

W

hat will we see from the property market this spring?

Stuart says: There has been a lot of talk in the market around the ‘housing bubble’. While the debate continues about its existence, I doubt it will put any kind of damper on the spring selling season.

What we’re seeing now is that borrowing money has never been easier, and the

34 ELITE AGENT • JUL-AUG 2015

money itself has never been cheaper in terms of the interest rates being offered.

That’s always attractive to people who are entering the market, to change-up buyers, and it’s attractive to investors as well. The market at the moment is activated on all fronts. It’s not just favouring one buyer type, which means that competition is very strong for property at the moment. Homeowners who are considering selling really need to start that conversation now, if they’re going to hit the market in spring or even

slightly before, when there are perhaps fewer properties to compete against.

The auction clearance numbers in Sydney and Melbourne are showing strength.

We’re seeing other states raising their clearance rates too, as well as the volume of properties being taken to auction. Auctions are great around this time of year, because the auction method of sale is a structured time-line event. Announcing an auction date gives you a potential sale date. By offering auction, or by choosing to list by auction more often, you can put your

records and contact points that they’ve already had for the best part of this year.

Your prospects are the people who have been coming to open for inspections, attending auctions, unsuccessfully bidding at auctions. These are all people who have made contact with you, given you their information and said ‘contact me’.

Raising your profile through current listings advertised in print and online, as well as through your online agent and agency profiles also prompts potential prospects to get in touch.

You really must be having the conversations now. It’s no good asking potential prospects ‘Are you considering selling?’ later on in the year. By September or October it’s too late, because you don’t have time to help them prepare for maximum value; issues such as finalising renovations, tidying up the property, new carpet or new paint. Have those conversations now. The conversations that we have 30, 60 or 90 days beforehand are the ones that turn into transactions later on down the line.

What are the best methods of having those conversations? I would recommend a mix of messages on multiple platforms.

Some prospects prefer email, some prefer newsletters and some will look for you online and in the newspaper. Your online

versions of products that ensure your property can be anchored to page one.

We are seeing a huge uptake of video marketing as well. This really invites the consumer, domestic or international, into the front door of the property and allows the vendor to showcase their home 24/7 across any device that is around.

Any other tips?

Stuart says: As an agent, you have to have a plan. If you come into spring and you haven’t put any forethought into how you’re going to structure your day, your week and your month, you’ll not be just be running from A to B to C. You’ll be going from A to B to Q, back to C and this will get on top of you. This is the time of year when a lot of agents get burned out. You don’t want to appear sluggish; you don’t want to sound sluggish. You don’t want to be calling people back later than you said or promised you would, so structure is never more important than at the busiest time of the year; traditionally this is spring.

Then there is also that ‘healthy mind’ aspect as well. It can’t be overstated how important it is to be physically healthy and to be switched on yourself. Healthier eating and exercising will release endorphins through the body. I know it sounds a bit left field, but the reality is that if you are going to

It’s no good asking potential prospects ‘Are you considering selling?’ later on in the year. By September or October it’s too late, because you don’t have time to help them prepare for maximum value. profile is extremely important, but don’t forget that letterbox drops, phone calls, call-backs, personalised emails and text messages are all important too.

vendor in with a very good opportunity to get a result in a 28-day program.

It really is an exciting time and it’s a great time to start thinking about that spring strategy and having those conversations with vendors.

What prospecting activities should we be doing now for good stock levels come September?

Stuart says: For a lot of agents, the key to maximum listings for this period is sitting right inside their databases – the logs,

What’s the latest in marketing that agents can offer to vendors?

Stuart says: There are statistics that show, without a doubt, that bigger is better.

Newspaper ads and online advertising that can be viewed in a larger format and videos included in marketing campaigns are all the big things that will attract the largest number of potential buyers and generate the most enquiries. They generate more click-throughs on an online campaign..

For vendors, it really is a case of ‘If you are entering the market in the spring, you will be competing with a fair few other properties that are very comparable to yours’. In order to stand out, like anything else you do, you need to go to another level to get noticed. Domain has upgraded

get through this season and you are going to do it at peak performance, there is no reason why you shouldn’t take the attitude of an athlete. Athletes understand that if they want the best results taking care of their bodies is vitally important.

I really do advocate that agents should be looking after themselves first and foremost so that there’s no burnout. And then make sure that you structure your months to come in terms of how many hours a day you will dedicate to call-backs and how many hours a day to structuring campaigns with your team.

Stuart Benson is Corporate Sales Manager and Property Spokesperson for Domain.

Stuart has over 15 years’ experience in the real estate industry, and as Domain’s Corporate Sales Manager, works closely with the largest corporate real estate offices in the country.

eliteagent.com.au 35

technology

A GAME OF

DRONES

KARIN BARSCHOW FROM Top Snap takes a look at

the potential of drone technology after her ‘geek week’ at the Connect Show in Melbourne earlier this year.

U

AV, UAS, RPA, RPAS, UACS, drones – confused? So was I! Let’s just call them all drones for the sake of simplicity, although the Civil Aviation Safety Authority’s (CASA) preferred term is RPA (Remotely Piloted Aircraft). The simple drone may look like an enthusiast’s plaything, but it is actually classed as an aircraft.

I volunteered to do the research as I love the aviation industry and spent a considerable amount of time inhaling nav gas at the local heliport some years back. Plus it gave me the chance of a few days in my home town of Melbourne with family and friends, shopping and wandering through golden, tree-lined streets in the sunshine.

What I thought would be a fun-filled week turned into an eye-opening, empowering time visiting Connect Show 2015, a large annual trade show organised in partnership with the Victorian Government. The UAV Aircraft Summit fitted perfectly into this category, showcasing the humble drone and its emerging use in the commercial sectors – not to mention the potential for the real estate industry.

The summit was well attended but, as I suspected, I was the only ‘girl geek’. The agenda included speakers from CASA , MIT Department of Aeronautics, project leaders from Google[x], Melbourne Metropolitan Fire Brigade, Melbourne Water, RMIT Engineering Department, CSRIO, Alaska Centre for Unmanned Aircraft Systems and company representatives from Matternet, URS Engineering and ETH Mapping.

36 ELITE AGENT • JUL-AUG 2015

One particular speaker of interest was from Google[x], a project think-tank run by Google that is dedicated to major technology advancements focusing on three criteria: Significant problem, radical solution, breaking technology.

These projects are called ‘moon walks’ by the Google[x] team; drone-based delivery systems are just one of the moon walks they are currently working on.

Another company making headway into the idea of transportation using drone technology is the Florida-based start-up Matternet, who are already servicing customers with drone deliveries using a clever mobile phone app.

They have just signed a strategic alliance with Swiss Post and Swiss Cargo to start delivering packaging in Switzerland. In fact, Central Europe is poised to lead with the implementation of delivery drones as there are few overhead power cables, a huge safety theme when working with drones.

TIGHTER REGULATIONS Not only is Australia leading with the innovative use of these cost-effective tools, but we are well advanced in regulatory affairs. CASA hope to have overhauled regulations in place by mid-2015, using a few manageable processes to simplify this development.

Operators will either need to sit the Private Pilot Licence theory test and complete training with the RPA manufacturer, or attend a CASA-certified training course, which will cover both of the above stages.

All operators must have a CASAissued Controller’s Certificate and all

organisations using drones must have an Unmanned Operator’s Certificate UOC. Listed are a few of the compliance points, which must be remembered when flying commercially or privately.

• Drones are not to fly closer than 30 metres from other people or property, other than on your private property, and must not be flown over crowds of people, beaches or sporting events.

• Drones can only be operated in daylight where operators can see them; that is, in visual line of sight of the operator and only in good weather.

• Drones should be kept more than five kilometres from any type of airport or landing site, including those at hospitals or police stations. Operators need to be aware of where these airports and landing sites are located.

• Drones must be flown at heights below 121 metres.

In the real estate industry it is common knowledge that some agents are flying substandard and unregistered drones to do their own photo and video work, despite not being Operator Certified or insured.

CASA is cracking down in this area, so beware: fines range from $850 to $8,500 for non-compliance.

CASA, Air Services Australia and the Department of Defence all have an integral role in controlling Australian airspace. Not only is safety a priority, with a rapid increase of commercially operated drones in use;

Australia is way ahead in regulatory affairs and there are many industry sectors already using drones on a daily basis. there have already been some privacy issues.

The right to privacy is a controversial topic. What could happen if those with a criminal agenda use drones? Privacy law is not governed by CASA but by the Australian Privacy Commission, who take all complaints seriously. Probably the best advice given by all speakers was to advise neighbours if you are planning a flight nearby.

What this translates to is that real estate agents should use only CASA-certified commercial drone operators. Currently there are 220 already certified with CASA and listed on their website, with another 150 operators being processed. There is no shortage of good, qualified drone operators in Australia.

As mentioned, Australia is way ahead

in regulatory affairs and there are many industry sectors already using drones on a daily basis, aside from the real estate industry.

In fact, a lot of wedding photographers are catching on and using drones to differentiate their services by using exciting visual effects. Others include law enforcement and emergency services, engineering firms, utility companies, scientific research, health organisations, agricultural firms and farmers for stock scanning, ecologists, mapping and topography surveyors, logistic companies, mining firms and of course Defence.

• The Melbourne Metropolitan Fire Brigade performs HAZMAT investigations with drones mounted with gas sensors, collecting dangerous gases before sending in crews.

• Most major infrastructure suppliers are using drones for surveying dangerous tasks like high-voltage inspections or monitoring methane levels at sewerage plants.

• The Coast Guard uses drones to identify illegal fishing in our waters.

• Ecologists use drones to survey rare species in remote areas, collect hours of data in temperatures that no human can comfortable sustain for long periods of time, or monitor ecological disasters such as oil spill spreads in vast oceans.

• Across the world one billion people don’t have access to reliable roads. The World Health Organisation recently diagnosed blood samples and then sent medicine from 30 central hospitals to 180 remote clinics in Bhutan after a rare malaria outbreak. These trips, which previously would have taken five hours by road, took 55 minutes each with the aid of a drone.

• Governments are using drones to safely detect land mines without the use of animals. It is estimated there are still 120,000 active land mines in BosniaHerzegovina from the civil war of the 1990s.

• As mentioned previously, delivery of parcels is fast becoming a reality using drones. With 75 per cent of parcels shipped weighing under one kg, deliveries are already taking place in the US and Central Europe with DHL, Amazon and Google grappling for position. The obvious advantages are a saving in cost and time, not to mention the reduction in our carbon footprint.

Indisputably the future of drones is bright.

Fedex has an application pending with the US-based FAA for an unmanned 747 for cargo operation. This could conceivably lead to routine unmanned commercial cargo flights one day.

AND THE WINNER IS...

There is now an awards ceremony dedicated to drones. The UAE-hosted Drones for Good Awards, with a first prize of US$1m, was won in 2014 by a Swiss company called Flyability, who developed the world’s first collisionresistant drone for search and rescue.

It is a very small, lightweight drone called GimBall, which has the unique capability of being able to collide into obstacles without losing its stability and of being safe to fly in contact with humans. It has the unusual ability to squeeze into tight indoor spaces and search for potential disaster victims. It can even roll along the ground or ceiling. The prize money will help these innovators bring about more and exciting products and uses for drones than we ever thought possible.

This sector has emerged as the most dynamic growth sector of the world aerospace industry this decade. Globally, civilian drones are set to become big business, and in Australia we are at the forefront of this exciting new technology.

Karin Barschow is the coowner and COO of Top Snap.

For more information visit topsnap.com.

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eliteagent.com.au 37

sales

THE INNOVATION BELL CURVE MANY PEOPLE THINK that embracing change and

adopting innovation is a new thing made necessary by computers, mobile devices, Google and Facebook.

Not true, says Kylie Davis from CoreLogic, the same challenges have been overcome by our predecessors.

L

ike most things to do with human behaviour, the more things change, the more they stay the same.

Understanding how people respond to change – why some of us embrace it and others reject it - is not a new concept. The idea that people adapt to innovation differently was being researched as far back as the 1920s to 1940s, when rural sociologists began examining the success of crop farmers and their approach to innovation. With rapid changes in agricultural techniques, such as hybrid seeds and new equipment, researchers wanted to understand whether there was a correlation between the attitude of farmers

Rogers Innovation Bell Curve

EARLY MAJORITY Pragmatists stick with the herd.

to embracing change and their level of success and wealth.

Not cloud technology, or mobile adoption, or learning how to use a new CRM. But crop farming. In the 1930s. Seriously.

The researchers found that farmers who were open to trying new things or who quickly adopted farming innovations made the most money. Not only that, but those slowest to embrace change were the least successful.

The work was used as part of a seminal piece of research by Everett Rogers, who went on to become one of the founding fathers of modern psychology. He created a visualisation of the data with what is now famously known as ‘Rogers’ Bell Curve of Innovation’ in his book Diffusion

LATE MAJORITY Conservatives hold on.

EARLY ADOPTERS Visionaries get ahead.

INNOVATORS Techies try stuff.

2.5%

LAGGARDS Sceptics. No way!

13.5%

38 ELITE AGENT • JUL-AUG 2015

34%

34%

16%

of Innovations in 1962. It’s been pretty much in reprints ever since, showing just how current the thinking still is.

Rogers discovered the rules that applied to innovation adoption in a cornfield played out across the general attitude towards adopting most new ideas. And this remains true today, even in real estate.

The reason I love Rogers’ innovation bell curve is because it demonstrates beautifully the experience of many principals and real estate executives whenever the topic of introducing something new to their team comes up.

‘Oh, we’re not good at change,’ I have heard. ‘Our best agents will get it, but the others will keep doing what they always do. Getting people to change is really hard.’

Well yes, getting people to change can be really hard. And confusing. Because some people adopt quickly while others lag behind. And wouldn’t it just be easier for us as managers and leaders if everyone embraced the idea immediately and did what they were told? But it’s lovely to know that we’re not the first generation to experience this.

The way I like to use Rogers’ bell curve

is to understand how the group of people I am working with is likely to interpret any message about innovation. The bell curve helps you understand that not everyone is going to embrace the idea straight away. And you can virtually plot

AS EVERY GOOD SALESPERSON KNOWS, YOU SHOULD NEVER GIVE UP THE FIRST TIME A CLIENT TELLS YOU ‘NO THANKS’. the numbers of people who fall into the different categories.

It also helps you understand how much ‘proof’ and evidence you will have to provide to ensure your audience is comfortable, and the best way to target your messaging. For Innovators, Early Adopters and Early Majority, focus on talking up the benefits. For Late Majority and Laggards, reassure about security and the lack of risk.

Innovators and Early Adopters will move fast. Expect to double or triple the time frame for others.

Rogers also identified the Five Stages of the Adoption process. I’ve personally adapted this to a rule I was taught when I first started to sell – the Three Nos to Get a Yes rule – because, as every good salesperson knows, you should never give up the first time a client tells you ‘No thanks’.

So the next time you need to introduce an innovation into your business, don’t despair. Change and innovation is not a decision, it’s a process, and you’ve got to follow the process.

Identify which categories the members of your team fall into, target your messaging and levels of assurance to the different categories and time your change so that even the laggards get over the line. And prepare for a bumper harvest.

Kylie Davis is the Head of Real Estate Solutions at CoreLogic, Australia’s largest provider of real estate data, insights and analytics. Follow her on Twitter @CoreLogic_KDavis.

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agent profile

Anthony Gattuso

Auctioneer and Associate, Woodards Carlton A veteran of Melbourne’s prestigious real estate market of the inner north, Anthony has sold in excess of 800 properties in his 15 years of practice. A true fixture of the Carlton community, Anthony is as much as part of the ambiance of Lygon and Rathdowne Streets as Cinema Nova and Brunetti. An auctioneer of note, his work is informed by the courtesy and quick-mindedness of another era.

What was your first job, and what was the most important thing it taught you?

As a teenager, my first job was restocking grocery shelves at the local supermarket in Cobram on the Murray River. The hours were typically after school, on weekends and late at night on occasion. It instilled in me the importance of structure, discipline and independence – and camaraderie too.

What do you like most about your work now?

I enjoy the flexibility of the job, and the capacity to be an individual within it. Real estate remains a relevant, essential profession, and it has the same appeal today as it did earlier in my career.

What do you still find the most challenging about the industry, and how do you deal with it?

I find the biggest challenge to relationship building and profitable expenditure of energy is at times an erosion of time due to overzealous

40 ELITE AGENT • JUL-AUG 2015

meeting scheduling. Team property tours (sometimes called caravans) are of importance, but they can chew into a huge portion of positive prospecting time if not structured well.

Describe what a typical day looks like for you.

I get up at 5.30am and enjoy a simple, light breakfast of a banana, coffee and yoghurt before arriving at the office between 7 and 7:15am. I then have coffee at my favourite café

at 7:30 am while I review my call and task list for the day. I initially structure these lists in the evening or late afternoon the day before to minimise downtime. I’ll then go back to the office and respond to all emails, and tackle

BITE-SIZE PROSPECTING BLOCKS ARE SUPER BENEFICIAL TO ME AND WORK BEAUTIFULLY. administration tasks.

I then commence prospecting and telephone calls from 9am until 10.30am. Bite-size prospecting blocks are super beneficial to me and work beautifully. I’ll then have a midmorning break to recharge and replenish, before embarking on more calls until lunch. When I return from lunch, there’s a quick-fire hour of calls between 1:00 and 2.00pm.

I typically conduct all appraisals and buyer appointments in the afternoon between 2:00pm and 5:00pm when possible. After 5pm I

return to the office, check my inbox and mop up any other newly acquired tasks that may have hit my desk, such as advertising proofing and review. There’ll then be another bite-size slot of calls until 6pm, when I shut down and head for home. I believe in working with intensity and efficiency whilst in the office, avoiding late nights where possible to ensure personal replenishment time.

Define ‘success’ for you personally - what do you feel most satisfied to have achieved?

Contentment and satisfaction in my current place in life is the definition of success for me. I feel that the trust and respect of many different people from different walks of life is my greatest achievement.

What would you say is your secret superpower?

I would say it’s my negotiation ability, which defines my success. This skill encompasses a balanced temperament, clarity of purpose, good preparation and focused empathy.

What’s the best compliment you’ve ever received?

I was once described as ‘unaffected’.

If you could give one piece of advice to the younger you, what would it be?

I would take a few more investment risks. My advice would be to purchase as much property as your tolerance level for financial pressure will allow.

What are your goals for the next year?

My aim is to continue to build my personal business by adding a team member to my work ‘pod’.

* CPD Points are approved by RTO 21687 BPG Training Pty Ltd

12 CPD Points for NSW agents, online, in your own time, from just $89 eliteagent.com.au 41

sales HOW CAN AN INVESTMENT PROPERTY BE PURCHASED THORUGH AN SMSF? Firstly, your client will need to set up an SMSF. Clients will need to seek specialist advice in relation to the appropriateness of an SMSF from a qualified adviser, such as Exelsuper, who specialise in SMSFs. In simple terms, an SMSF is a straightforward tax structure, created for one to four members who act as the trustees of the fund, and who are happy to

This strategy can open up opportunities for more sales and adding more properties to your rent roll.

WHAT AGENTS NEED TO KNOW ABOUT SELLING PROPERTY TO SMSF INVESTORS ACCORDING TO NEW STATS from the ATO the

number of Self Managed Super Funds (SMSFs) are on the rise. A popular investment, of course, is property. Glenn Doherty, a specialist SMSF adviser, has some tips on what agents need to know to help clients navigate the legislative and commercial requirements for such a purchase.

F

or a number of years now, an SMSF has been able to purchase investment property, either with the funds held in super or by using borrowings in a SMSF. Using this type of arrangement to purchase investment property has been common practice for some time, and is unlikely to change. Self-

42 ELITE AGENT • JUL-AUG 2015

Managed Super is a common structure these days, with over one-third of all Australian superannuation savings now held in SMSFs. They have been particularly popular for the control they offer, the tax advantages to be gained, and the overwhelming number of highly effective strategies available.

As a real estate agent this strategy can open up opportunities for more sales and adding more properties to your rent roll.

accept all the decision-making power and control over how funds are invested.

There are generally two ways that an SMSF can purchase property: either with funds already held inside an SMSF, or by taking out a Limited Recourse Borrowing Arrangement (LRBA).

Most people will not have sufficient funds to purchase an investment property through their SMSF; therefore they will be required to implement a Limited Recourse Borrowing Arrangement.

WHAT IS A LIMITED RECOURSE BORROWING ARRANGEMENT? Essentially an LRBA is a borrowing arrangement that allows an SMSF to borrow for investment purposes. The arrangement must be set up under strict criteria. The loan is held through a separate trust called a bare trust. The bank only has recourse on the property held in the trust, not the other assets held within the SMSF. This is shown in the diagram opposite.

AS AN AGENT, WHAT DO YOU NEED TO KNOW? The buyer can purchase a single acquirable property; that is, a single residential property or a group of units. The buyer cannot significantly change the nature of the property, for example by demolishing and rebuilding it. It is important that, where clients are buying an established residential property, they are clear on what the borrowed funds can be used for. You can use the funds under this arrangement for maintenance or repair, but not to renovate and change the nature of the property. You can, however, use funds already in the SMSF to renovate it, provided it does not change the nature of the property.

When completing the sale documentation,

Limited recourse loan

SMSF

Lender Principal and interest payments

Beneficial ownership

Rental income

Custodian Property held on trust for SMSF

Lender’s security limited to property

Property the property must be bought in the name of the trustee of the bare trust where the property will be held. This will always be a trustee of the SMSF. It cannot be in the name of your clients.

However, if the property is being purchased solely with funds from the SMSF, the name to be entered on the contract will be the trustee of the SMSF, either an individual or (as is more common) a corporate trustee.

This structure must be in place prior to the entering of any contract to purchase a property. It generally takes approximately two to three months to make such arrangements, from setting up the SMSF, transferring super-funds into the SMSF and arranging the trust for where the property will be held.

It is advisable that the client has preapproval for the funds to purchase the

property. At present banks will generally lend up to 80 per cent of the purchase price of the property. However, with concerns about property prices in Sydney and Melbourne, banks are reviewing their policies around these types of arrangements and we may see this come down.

The property cannot be rented to a family member or related party. It cannot be used as security for other investment properties.

For every investment property there can only be one charge over the property.

Purchasing property through an SMSF can be a great wealth creation tool if used correctly. It can also provide business opportunities within your real estate business. *Purchasing investment properties through an SMSF is complex; the information given here is to provide a general understanding of these arrangements. Anyone considering this type of strategy should seek appropriate advice from an SMSF specialist.

Glenn Doherty is a financial organiser/SMSF specialist at Exelsuper. For more information visit exelsuper. com.au.

Elite-agent-2015.pdf 1 1/6/2015 3:26:23 PM

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eliteagent.com.au 43

marketing

AVOIDING THE AWKWARD SILENCE

SOLD A PROPERTY? What happens

next? Carl Quested looks at how you can continue to build on the relationship instead of waiting for years until the client is ready to sell.

I

f you remember your dating days, you’ll recall that moment on a first date. You’ve covered the basics, ordered a drink or meal, and then it happens – the awkward silence.

What do you say next? The wrong thing could mean the end before it’s even started.

There are a lot of comparisons between real estate and dating (rightly so; they are both relationship businesses), and the one that needs to be addressed is the awkward silence.

It’s that period shortly after you have turned a buyer into a new property owner. What the heck do you talk to them about now?

Clearly you can’t start promoting properties to them – they’ve only just purchased. And the stats show the average sales cycle is seven years; that could be a really long and awkward silence.

As real estate agents, there isn’t a suite of different products and services that you can continue to promote, upsell and cross-sell.

Take a stationery shop, for example. You buy a pen, but they can promote paper, office supplies, furniture, printing, even office fitouts and on and on. Their ability to be ‘sticky’ with their clients is significant.

But don’t despair – the exact same opportunity is available to agents too. It’s a matter of perspective.

We all need to focus on revenue; it’s what pays the bills. But there are actually three different types of revenue available: cash, trust and referral. Sure, the first one comes right now, the result of selling the house.

But the latter two don’t require any real estate transaction to occur. Take tenants, for

4 4 ELITE AGENT • JUL-AUG 2015

example. Your interactions with them may be minimal, but they still have friends, work colleagues and so on, exactly the same as a homeowner. Their ability to refer business to you is no different; they don’t even need to have used your service.

This means that you can start associating revenue with those people you had perhaps closed off as an opportunity.

But what does this have to do with an awkward silence? You have seven years’ worth of silence to fill, which is a good amount of time to build trust and referral.

And the two can actually help propel each other forward too.

You have seven years’ worth of silence to fill, which is a good amount of time to build trust and referral.

When someone moves into a new home, most agents think it is end of the transaction and speak again in seven years. They won’t become an agent of choice if they don’t stay top of mind. The opportunity here is to start asserting yourself as the ‘sticky’ agent.

If you position yourself as the go-to person for everything in relation to property and community, you get to be sticky. Think about the opportunities that exist: builders, decorators, carpenters, pest inspectors, gardeners. All of these businesses will be needed by homeowners at some point. If you

can be the one to present them with relevant information and offers, not only will you become a useful resource to the homeowner, but you will build an amazing level of trust with the business too.

Who are these businesses more likely to refer to in future – the agent who actually promotes them, or the one who has their business card on a counter with 50 others?

Get them to provide special offers just for your clients, give them the ability to track the relationships and put special offers or coupons on your letters and emails. It’s going to the next level of value-adding.

Then there is the wider community, where you have the opportunity to keep owners up to date with local matters like council issues, road closures and new businesses opening. Providing this information on a regular basis is useful; it shows that you care and understand the needs of where your clients are right now, not just when they are ready to sell.

Finally, what about your interests outside real estate? People buy from people, so if you go around with your real estate hat on all the time others don’t get to see the real you.

If you have hobbies, passions, philanthropic initiatives, make sure you share them. You will be amazed at how much easier your conversations become when you start talking like a human being instead of a stat-fuelled agent. Let a little bit of yourself come through and watch how your listing presentations change.

These are just some examples of how you can avoid the awkward silence with your clients and ensure that you remain relevant and useful – ‘sticky’. From here you create a better chance of being the agent of choice when they are next ready to sell.

7 SUMMARY TIPS 1. Understand the seven year sales cycle 2. Remember the three revenue types – cash, trust and referral 3. Build relationships and promote those businesses that add value to your clients 4. Be active in the community – share information about what is going on that will interest them 5. Don’t ignore tenants – they can be awesome referrers for your service 6. Learn what your clients are looking for and be sticky 7. People buy from people – don’t be an agent all the time.

Carl Quested is the director of AgentMail, a boutique mail house that specialises in real estate mail and telemarketing.

Visit agentmail.com.au.

1

MY LOCAL

TOOWOOMBA, QLD

2

3

Tegan DeClark is an experienced real estate professional with Ray White in Toowoomba. She has experience in international real estate sales, commercial real estate, property management and residential home sales.

After relocating from Florida USA three years ago, Toowoomba is now definitely home for Tegan. She is a current member of the Toowoomba Education Capital Steering Committee, an REIQ Individual Member, a member of the REIQ Young Industry Professionals Advisory Group and a member of Toowoomba Future Leaders.

Here are just a few things that Tegan loves about her local area the top of the Darling Downs.

4

5

1. PICNIC POINT and several suburbs such as Rangeville and Mount Lofty and Blue Mountain Heights have some amazing properties on the top of the range, with incredible views over the Lockyer Valley.

2. THE EMPIRE THEATRE It’s the largest regional theatre in Australia with over 1,500 seats in the main auditorium. Built in 1911 and heritage listed it has been the location for some of Australia’s and the world’s most renowned acts. It has also been host to numerous local performances and TV shows. I am involved in local community theatre productions and love the art scene in this area.

3. WELLCAMP AIRPORT Opened in late 2014, it is the first privately funded public airport in over half a century and is 747 capable. They have just make an agreement with the Australian Aviation academy to make Toowoomba its base.

4. URBAN, SUBURBAN, AND ACREAGE PROPERTIES are all within a short distance from Toowoomba, amenities and transport. You can easily live on acreage and work in the CBD.

6

5. FESTIVALS, EVENTS, COMMUNITY Known as the ‘Garden City’, Toowoomba has a spectacular annual flower festival, along with Easterfest and the food and wine festival. Numerous other events and festivals are held on a regular basis.

6. GROWTH Significant investment has been put into redeveloping the Toowoomba CBD with roads, accommodation, new and redeveloped shopping centre and in addition to the airport, the Toowoomba second range crossing is in the budget and on track for boosting this region further.

Photography: Sean Buckley © Blue Diamond Photography

eliteagent.com.au 45

personal development

‘Ladies and Gentlemen…’

BRENDAN LAWLEY GUIDES us through the

perils of public speaking, from preparation and content to overcoming the dreaded nerves.

W

hether your Board of Directors wants a comprehensive department overview or Nancy is getting married, as an agent or a senior person in your department, sooner or later you will be required to give a speech or make a presentation.

Broadly speaking, this is something not too many people enjoy. In fact, ‘Top Ten Fears’ lists often have public speaking rated higher than death. (This presumably means that at a funeral people would rather be in the box than giving the eulogy!)

The key to any successful presentation, however, is preparation. You will have seen this proven at weddings where the best man (often after a few nerve-settlers) has totally underestimated the significance of preparation and fumbled his way through a terrible speech. An audience will accept that you may be nervous, but they won’t accept that you have shown a lack of respect by not bothering to prepare.

Your preparation starts with a series of basic questions.

• Who is my audience?

• Why am I giving the presentation?

• When will I be giving the presentation?

• What is the subject matter?

46 ELITE AGENT • JUL-AUG 2015

• Where will I be presenting?

• How will I present the information?

You should begin your preparation as soon as you know that you are to give a presentation. This doesn’t mean you lock yourself away and start ploughing through piles of research. It may initially mean that you just start thinking about your topic and making some occasional rough notes, which will ultimately evolve into a structured, fluid presentation. The longer you prepare, the more chance you have of delivering a refined outcome, memorable for the right reasons.

Your first task is to establish clearly the purpose of your presentation. Are you

Don’t forget that as much as your content may be gold, ‘it ain’t what you do, it’s the way that you do it!’ Your statistics and data may be top notch, but if they are delivered in a monotone manner supported by a bland PowerPoint presentation with four million numbers on it, it’s snooze time for your audience.

As gripping or compelling as your numbers may be, we all have a limited attention span (in adults it’s now less than about ten minutes), so don’t push your luck.

Make some broad notes as an outline for your presentation and ideally rehearse with someone first as a ‘dry run’. Try to

An audience will accept that you may be nervous, but they won’t accept that you have shown a lack of respect by not bothering to prepare. there to inform (the introduction of a new department procedure), convince (you need a bigger department budget) or the much less formal celebrate (good luck on your wedding day, Nancy).

For any of these, you will need to do some research and compile anecdotes, facts, quotes, personal experiences or statistics.

You must then sort this information into a meaningful and relevant structure.

do this with someone who can give you constructive, honest feedback.

Be careful not to over-prepare. Once you have done all the work to put your presentation together and you are happy with its content, structure and how you plan to deliver it, leave it alone.

If you are speaking to a large group and are using visual aids such as PowerPoint, arrive at the venue in plenty of time.

Identify any potential problems (noise, room layout and so on), and check that your technology works.

Don’t apologise for yourself or your subject.

If you are delivering a topic that you think may be dry or boring, try to make it different or throw in something that is unexpected, challenging or confronting. A well-placed question or relating a personal experience can re-engage an audience that might be slipping away. Speak clearly and naturally, use expressions and gestures, and make sure you speak to the entire room.

Don’t be afraid to use a pause to effect. This is useful if you are a fast talker and your audience needs to catch their breath and absorb what you have just said. It can also be used if you want your audience to think about a statement you have made, and of course it’s handy for you to gather your thoughts if you’ve been thumping along at a rate of knots.

Try to anticipate questions. These are great if you are planning an interactive presentation, as it generates a real connection with your audience. Treat obvious questions with respect; you’ve invited questions, so don’t make someone feel embarrassed if they ask a dumb one. If you don’t know the answer to a question or

it’s off topic, promise to find out the answer or offer to discuss the question later.

As much as you might like to think your audience is focused on visual aids or handouts, the reality is they are looking at and listening to you. Be aware of your stance and posture. Don’t slouch, pace the floor, rock backwards and forwards, or fidget.

Some speakers find themselves doing these things out of nerves, so just be aware of it.

Gestures are really important. As most of our communication is sent by non-verbal signals, your body language, volume, pace and tone are vitally important.

Using gestures keeps you animated and interesting, but this doesn’t mean you have to be flapping around like one of those inflatable waving guys out the front of a car dealership. Make sure your gestures are relevant and timely, to give your presentation enthusiasm and energy.

If you are using a presentation on a screen, make sure you are facing your audience when you speak to them and don’t direct your voice to a screen or whiteboard.

Sweaty palms, increased heart rate, shortness of breath? Congratulations, you’re normal! The good news is that these signs are rarely noticed by your audience,

but because they are inside you they seem magnified 100 times compared to what others can see. All public speakers who care about their topic or their audience experience nerves. Take three deep breaths before you get up to speak rather than a series of short, shallow breaths. Walk slowly to the front of the room and start with a measured, controlled introduction.

Try to sound confident. This may call for some acting but it will be worth it. Above all else, don’t get nervous about being nervous.

Just go with it and accept it.

Most people appreciate that speaking in front of a group is a difficult thing to do. As a result, you have the chance not only to impart some valuable content but to represent yourself as a confident and assured leader.

Brendan Lawley is CEO of Brad Teal Real Estate, an eight office network covering Melbourne’s north-west suburbs. Brendan has a background in general management and human resources roles, and is responsible for the development of corporate growth strategies in the business.

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eliteagent.com.au 47

The Last Word Fiona Blayney

If it ain’t broken… break it!

In today’s fast-paced business world, ‘if it ain’t broke, don’t fix it’ is probably one of the worst philosophies you can hold if you want to stay in business says Fiona Blayney.

W

hy do so many businesses continue to hold on to the ways of the past? I hear agents complaining about challenges like recruitment, retention, fee maximisation, increases in expenditure and risk management. Customer needs are on the increase, employees want more from their employer and there’s a shortage of experienced practitioners… the list goes on and I have to stop somewhere.

Team these demands with the needs of the consumer evolving at a rate which is so fast that it proves difficult for the industry to keep up. If you reflect on other markets,

repsonded? Are we listening to the consumer who wants options? Or are we swimming in the same ocean as our esteemed colleagues, offering the same service albeit with a

If I have managed to scare you today, dig deep and turn that fear into excitement. like banking and finance, telcos, travel and hospitality - these sectors have risen to the challenge of change. New offers have arisen in other verticals, with insurance being offered by supermarkets, budget flights have provided access to travel for all, bundles for phones, home, business, internet and pay TV are coming at us at all-time low rates.

Has the real estate industry

48 ELITE AGENT • JUL-AUG 2015

few bells and whistles?

Why is there not the Tiger Air of property management, a bundling of property management and sale for an investor? I’ll tell you why: because if it ain’t broke, don’t fix it.

My favourite words are ‘why’ and ‘how’. Why do we do it that way? How could we do it? What would happen if…? It can be very confronting to consider for a moment that the way you are doing something is actually not

sustainable five years from now, even though it’s working today.

Are you going to be the trailblazer or the person following the blaze? In any industry the trailblazer is continuously questioning what they do every day, looking for ways to do things smarter, faster and with greater return.

The trailblazer doesn’t look inside their industry at what others are doing to replicate; they are looking outside the industry for ideas and concepts to apply to theirs.

The trailblazer seeks to understand the consumer in their market; they identify that their needs do not remain stagnant but evolve in line with economics, social and otherwise, and they seek to remain relevant and in demand.

A trailblazer can see a market need before the consumer even knows the need exists. I didn’t know I needed a fitbit, an iPad, or even a mobile

phone before it was presented to me. A trailblazer hears consumers shouting ‘What a great idea!’ in their wake.

A trailblazer will enter our industry and disrupt it like never before. I wonder if you will be watching and condemning their actions, quietly wishing it was you? Or will you be surprised that it happened at all?

I’m at the front of the trail – that’s my job – and from here Blind Freddy can see what will happen. There is so much that can be broken about our industry and I’m excited to see how it unfolds. Are you?

If I have managed to scare you today, dig deep and turn that fear into excitement. With change comes opportunity, and the great thing about 2015 and beyond is that opportunity is endless. It’s time to sure up what you are doing and start thinking about what is possible, start thinking about what is needed.

Of course not everyone will follow the path to reconstruction. A stream of businesses will remain and continue offering their existing service, and you may be in that group. But mark my words: something new is coming.

Let’s just hope it’s not more ‘Google glasses,’ I’m glad that one got shelved!

Fiona Blayney is the founder and director of Real+, an industry-first Property Management learning platform. For more info visit realplusonline.com.au.

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Kelly Whitten: 0466 Morgansrquodale said: prices AFRGD1 ets p17, er Gree s yesterday ths? ‘‘The lowe probably cted McCo cent to anies & Mark share in five mon p13 over anoth ,’’ he said. the share overseas have expe ralian s Grigg index to tair we saw Comp out todayr supports we may day.’’ did Aust biggest rallyASX 200 2 per Angu that ncy falls .’’ caught g as dolla k Mon st ence their ralian as stron sell-off on ets p15 the curre et at 6000 Developed and built by Perfectly balanced living benchmar s, or almo $30 bilAbernethyt Aust the day mark and if The Mark point around spen the r John g market will see the most of the ar given anies & up 106 led by Comp we t officeal banks had crisis t

six-ye ¢ ended 5581.4, addin ion, spen sustmen US70 dollar to the to early inves capitalisat ng was l centr the financialms and cent, at ed The or close market a, tradi said globa since US75¢, it had plung . lion in s. In Chin cial syste years s. .52¢ market seven up the finanget out of hand to below US74 big bankin 700 stock ve many of Impression ct ting Artists' ce ng low impa got pended investors belie ted the Sun- shori d not let Gree been opera J001 stima 1HERSA1 woul shorters have et and they ding Some have overecrisis, inclumore ausmark ‘‘The st debt players in our Greek excess vote again of the nt no ent chief day’s defia ures.

45 Sample St, Suburb meas Managem terity Asset Clime ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●

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