Elite agent issue 19 oct nov 2017 full by Elite Agent

A NEW WAY OF WORKING PAGE 30

HOW TO SURVIVE THE BUSINESS OF FAMILY PAGE 36

EMOTIONAL INTELLIGENCE PAGE 54

LEARN FROM THE BEST #19 OCT-NOV 2017

THE FUTURE OF REAL ESTATE MEET THE PROMISING YOUNG TALENT FROM THE AGENCY

The Innovation Issue

5 TRENDS THAT WILL IMPACT REAL ESTATE // THE AGE OF INFLUENCE AUTOMATION NATION // RETHINKING VIDEO IN THE SOCIAL MEDIA AGE

SAMANTHA MCLEAN Managing Editor samantha@eliteagent.com.au JILL BONIFACE Sub-Editor jill@eliteagent.com.au SHANTELLE ISAAKS Marketing Assistant | Producer shantelle@eliteagent.com.au

CONTENT MARKETING IS THE NEW BLACK One blog post might be all it takes to attract your next listing. If you are stuck for ideas or lack resources to get consistent in your digital marketing, hire a team that is always full of fresh ideas, and always on time.

FEATURE WRITERS Samantha McLean, Sarah Bell, Azal Khan, Shantelle Isaaks

MARK EDWARDS Publisher | Commercial Partnerships mark@eliteagent.com.au TIM DUNK Videographer | Editor tim@eliteagent.com.au CHORUS DESIGN Art Direction | Design thegoodpeople@chorusdesign.com PHOTOGRAPHY Eva Shaw Photography evashaw.com.au (Cover Story) Jason Malouin portraitstore.com.au (Transform Masters)

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EDITORIAL SUBMISSIONS The publisher welcomes editorial submissions from individuals and organisations within the real estate profession. The publisher reserves the right to edit, modify, reject or contribute to the content of the material provided. EDITORIAL DISCLAIMER: Some opinions expressed in Elite AgentMagazine are not necessarily those of its staff or contributing editors. Those opinions are reproduced with no guarantee of accuracy although Elite Agent Magazine endeavours to ensure those opinions and comments are factual. Our subscriber list may sometimes be made available to relevant brands who might be of interest to our readers and from time to time we may be in touch to inform you of new Elite Agent products and services. Please visit eliteagent.com.au/privacy for details on how we collect and use your personal information. Please email subscriptions@eliteagent.com.au if you would rather not receive these communications. © Elite Agent Magazine 2017. All rights reserved.

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Contents Regulars 004 EDITOR’S LETTER Samantha McLean 008 READER PROFILE Jacob Pirrone 010 WATERCOOLER Catch up on what you may have missed 030 PEOPLE PARTNER Alison McGavin 032 MINDSET CORNER Jet Xavier 034 DATA INSIGHTS Eddie Cetin 036 BUSINESS DEPOT John Knight

056 THE HOME STRAIGHT Mark McLeod

Everybody’s talking about 014 SCIENTIFICALLY SPEAKING with Rachel Lawrie 016 THE AGE OF INFLUENCE with Julie Masters 018 HOW RISKY IS YOUR BUSINESS with Sharon Fox-Slater

First Person 020 RETHINKING YOUR SYSTEMS Josh Phegan 022 DEFYING THE DISRUPTORS Rob Ward 024 7 REASONS WHY QUICK SALES ARE GOOD SALES Evan Broadbent 026 THE NEW WEB Anton Babkov 028 UPDATE BEFORE YOU INNOVATE Kylie Davis

Cover Story 038 THE FUTURE OF REAL ESTATE Meet the promising young talent from The Agency

Features 042 5 TRENDS THAT WILL IMPACT REAL ESTATE IN THE FUTURE Chris Rolls 044 CENTURY 21: FUTURE BY DESIGN Samantha McLean 046 AUTOMATION NATION Sarah Bell 048 THE INNOVATORS: JASON ALFORD AND KELLY TATLOW 050 RETHINKING VIDEO IN THE SOCIAL MEDIA AGE Daniel Dulhunty 052 TALKING TECHNOLOGY with John McGrath

054 5 WAYS TO INSPIRE YOUR TEAM THROUGH EQ Ush Dhanak 057 TRANSFORM: 2017 MASTERS EDITION The story so far

EDITOR’S LETTER IT’S NOT JUST real estate, but many

industries over the next few years will feel both gain and upheaval due to continuing advances in technology and innovation. As this is our ‘annual innovation issue’ we could talk about lots of things right now; shiny objects everywhere, as always. Thankfully, most of us have stopped using that awful ‘Uber of real estate’ analogy as we’ve found not every piece of tech ends up an Uber! Here are my thoughts on the last 12 months.

INTERESTING SPACE TO WATCH: THE MOVE TO CRYPTOCURRENCY Right now the banks have their eyes on cryptocurrency and the potential it has to change their business models. A significant example happened in Australia a couple of months ago, with ANZ and Westpac announcing they had successfully used Blockchain instead of paper for bank guarantees on a commercial property lease. In a cryptocurrency or digital currency (like Bitcoin) world, there are efficiencies to be gained in property, making transactions

as just being a type of car, it makes it a bit easier to understand. But as far as the road analogy goes, Blockchain can log exchanges of all kinds of assets, including different types of currencies, personal data and property, that may need to travel from one owner to the next. As it stands, Blockchain is a public ledger which is both transparent and extremely secure. Rather than storing information in a central repository as banks do, it is a distributed database spread across a very large computer network where each computer verifies the integrity of the decentralised database and its transactions. Did you get that? No bank or other third parties are needed to keep any of the processes flowing because resources are shared and open to anyone’s scrutiny. With the real estate industry currently relying heavily on traditional centralised financial institutions for mortgages and title deeds, this is likely to create significant change – but probably not overnight. For Blockchain property transactions to exist in Australia, every property would need to have a unique identifier (some land registry systems already have this); these would need to be transferred to a Blockchain, which would also need to contain definitions of who

For Blockchain property transactions to exist in Australia, every property would need to have a unique identifier. faster, easier and safer than they are today. Right now, a real estate transaction involves going through many intermediaries, such as mortgage providers, solicitors and others. Cryptocurrency does not rely on a bank or central party to process and verify transactions. Instead, your transfers are encrypted and sent to a distributed computer network (Blockchain). Blockchain, the ‘cryptocurrency enabler,’ is actually much more than that. If you think of Blockchain like a road or freeway, and Bitcoin or any digital currency

4 ELITE AGENT • OCT - NOV 2017

the stakeholders are in each transaction – for example, the owner, the buyer and the lender. All of the information associated with the property can be stored on Blockchain as part of the real estate process. But it’s not just the sales world sizing up the ways that Blockchain can be used in real estate; think property management too. At the time of printing there is a service called Trustbond launched by Silicon Valley FinTech startup Traity (partnering with landlord insurance specialist Terri Scheer).

This lets tenants avoid paying a traditional bond and instead pay a set fee, or a fraction of the rent paid for the term of the lease, depending on how ‘trustworthy’ the internet considers the person.‘Trustworthiness’ is measured using online data, including networks, ratings and reviews from Facebook, Twitter, LinkedIn, Airbnb, eBay and Uber, to determine a numeric score. Once eligibility has been established, the tenant pays an upfront fee that is a percentage of what a conventional rental bond would cost. Trustworthiness scores are etched forever in Blockchain, so it will be interesting to see where this goes in terms of tenant ledgers and other references. I don’t believe any of this means that buying, selling or leasing would take place without agents; the transaction would just be a lot smarter and faster, speeding up contracts and payment times. It’s fascinating stuff and I’ll be talking about this a whole lot more at our event on November 14: How to Lead a Winning Team in 2018. I hope to see you there.

COOL AND COMING SOON Less complex, but no less interesting, there are a myriad of new tools and tech capabilities that are gaining traction in the marketplace. Here are some that have caught industry eyes. Realhub With designers, photographers and other suppliers working on your marketing assets across a multitude of channels to take a property from listed to sold, there can be a lot of double handling. Realhub is a single access point for all marketing and works with all suppliers to create effortless marketing material. A singleentry property marketing dashboard hosts serious efficiencies for single agents as well as agencies with centralised marketing. One to watch. Prop.ly When most agents have access to the same data and tools, the

difference can be in the value added to the interpretation and presentation of that data. Prop.ly creates beautiful property presentations for vendors, integrating with research and information from data providers, portals, social, Google Maps and Adwords to create a powerhouse proposal in an oh-so-classy format at the click of a button. Proposals also include marketing plans, case studies and testimonials presenting owners with the information they need to make a confident choice in agent. The service dashboard allows you to track proposals and conversion data too, thanks to the personal performance analytics that empower a continuously improving agent.

Bidtracker Bidtracker provides a digital platform for agents to capture, collate and distribute auction bids in real time, rather than wait for sales to be reported and distributed by data companies. The platform collects information about bids as they occur (goodbye clipboard folders and pens) and can analyse the live behaviour of bidders to create insights and tools for agents and vendors to develop better, more informed, strategies for auction day. With almost a 50 per cent uptake in Victoria, Bidtracker seems to be a utility that agents have taken on board. RIP: GONE BUT NOT FORGOTTEN Not every tech tool invented ends up an ‘Uber’. Here, along with mainstream tools like Vine, Internet Explorer 8, 9, 10, the Apple headphone jack and more, are some promised ‘gamechanging’ tech solutions for real estate that we’ve said goodbye to in the last 12 months.

servicing, Settl was created as a parallel brand, likened to the Jetstar and Qantas relationship. However, unlike those aeroplanes, it didn’t take off. I know there were a lot of unhappy folks about this one, but I kind of felt it was a database-building exercise that could have been a great lead generator; I’m not sure too many others saw it that way!

Revalu8 Revalu8 touted an Uber-style revolution based on a belief that the power in negotiations lay with the agent and seller. Offering price comparison tools for purchasers, among other things, the start-up had the dual goals of empowering purchasers and disintermediating agents. It may have been remiss of them to disempower one side of the transacting parties completely, and there were also reports of a dispute with the app developers. A direct negotiation platform may not be off the radar entirely though, so we shall see if this concept is resurrected with different execution. Follow.it Follow.it – which entered the building in a blaze of glory – has a website that has been under maintenance for a while now (and still is at the time of printing). But there is a reincarnation of this one, I feel, around the corner as the founder of Airtasker, Jack Lui,has launched a product that looks and sounds very similar in Singapore called ‘Soho’. I’m sure there will be plenty more to come and go, but I’m out of space. But the space is something we will be watching!

Settl Settl was LJ Hooker’s antidisruption play as a low-price fixed-price online real estate agent. Noting that there was an emerging DIY selling market that the group wasn’t currently

eliteagent.com.au 5

ANTON BABKOV CEO, REX SOFTWARE

38 AZAL KHAN FEATURES WRITER, ELITE AGENT Where are you from originally and where do you call home now? I am a born and bred Sydney girl. I’ve lived all my life in Sandy Point, a tiny leafy suburb in the Sutherland Shire. Who or what inspires you at the moment? I’m re-reading Joy on Demand by ChadeMeng Tan. His simple, no-fuss take on happiness and meditation has inspired me to keep up my nightly meditation habit (nine months and counting!) which has helped with my chronic over-thinking and worrying. What’s the most important project you are working on right now? There isn’t one particular project, but juggling work with a full-time MBA in Entrepreneurship while working on my own business (all of which I love) keeps me pretty busy! Trend to watch in the industry? Millennials are often dismissed as entitled, but my generation is hard-working and thinking outside the box. My story on The Agency stars who work around the clock is the perfect example. I think millennials will change the way we work and entrepreneurial thinking will not just be a vogue subject but valued. Don’t underestimate us! Favourite quote or words to live by? Two favourites from Malala Yousafzai: “We should all consider each other as human beings, and we should respect each other.” Secondly, “There are two powers in the world; one is the sword and the other is the pen. There is a third power stronger than both, that of women.”

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Where are you from originally and where do you call home now? I was born in Russia and grew up in New Zealand. I’ve been lucky enough to live all over the place, but Brisbane is my home right now. Who or what inspires you at the moment? Elon Musk... because he’s Elon Musk. The man’s going to Mars! If that isn’t inspirational, I don’t know what is. And Steve Jobs, because all of his products were/are beautiful - in every sense of the word. What’s the most important project you are working on right now? The people in the company. I think getting people to learn, improve and become the best that they can be is always the most important project for any leader. Trend to watch in the industry? Agents need to realise they’re not just competing with other agents; they’re competing with the young 20-somethings working out of their garage. They need to think like tech companies, and become faster and more receptive to change. Being open to doing

things in different ways will be key to not only survive but grow spectacularly over the next 10 to 15 years. Favourite quote or words to live by? Build the right thing before you build the thing right.

CONTRIBUTORS DANIEL DULHUNTY DIRECTOR, CONNECTED MEDIA

Where are you from originally and where do you call home now? I was born in regional NSW and, after years living in the big smoke and working for corporates, I’ve returned to my country roots and run our business from offices in Albury. Who or what inspires you at the moment? Innovation. While the media industry is turbulent, it opens up opportunity for those who

54 USH DHANAK EMOTIONAL INTELLIGENCE COACH, COLLABORATE HR Where are you from originally and where do you call home now? I’m originally from London and now live in Sydney. I’ve been here for 13 years now, so the pom accent is slowly but surely fading. Who or what inspires you at the moment? Elon Musk, as he is one of the most highly emotionally intelligent leaders I’ve come across. It’s effortless for him to show his EQ and he remains humble. What’s the most important project you are working on right now? I’m working on some coaching packages for emotional intelligence, so that I can help the everyday hero become a better leader. Trend to watch in the industry? I’m intrigued by the microchip (size of a grain) that can be embedded into your hand. I’m also curious to see how artificial intelligence will impact on emotional intelligence. I’m convinced that high EQ will be a required element in sourcing talent. Favourite quote or words to live by? Mahatma Gandhi – “I will not let anyone walk through my mind with their dirty feet”. I love how this reminds me not to let the thoughts and opinions of others affect me negatively. It reminds me to keep my resilience up.

see it. Agents, now more than ever, have the ability to embrace and take charge of their platform. I love seeing people win by truly having a go at that. What’s the most important project you are working on right now? Working across quite a few industries, we have a big project underway in the education space. Real estate is a specialty and we enjoy our regular work for NewsCorp publications and directly with agents. Trend to watch in the industry?

Video, social and mobile will continue to be areas of disruption and progress. I am excited to see VR and AR mature. It will be interesting to watch price points for old media change as the medium shifts. Favourite quote or words to live by? ‘There’s more than one way to skin a cat’ and ‘nothing is impossible’. I’m a fan of creating your own culture because we’re not all wired the same way. Listen to everyone, learn everything you can but do things your way.

NOTHING FAKE ABOUT OUR NEWS Our new podcast “Elevate” takes you behind the scenes at Elite Agent with additional news analysis, exclusive interviews, extended Transform coaching and more.

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READER PROFILE

PASSION AND DEDICATION Two years ago property renovator Jacob Pirrone launched Pirrone Property in Bardon, QLD, at the age of 26. Following an intense period of networking and establishing his brand from the ground up, sales and rentals are increasing and the agency has received recognition within the local community. Read on to find out what motivated Jacob to start his own business and who inspires him to keep going.

How many years have you been in real estate? On and off since I got my licence at age 18, actively selling for the last four years. Pirrone Property just celebrated its two-year anniversary! What motivated you to get into real estate? Other than family influence, my wife and I are keen renovators and have been buying and selling across Brisbane for the last six years. I love the prospect of change and it was inevitable that I would be drawn back to real estate. Being hugely people focused, real estate is a perfect fit for me. What is the market like in your area right now? The Inner West has always been a hotspot; of course there can be ups and downs in certain

price brackets, but the charm of my local area means it‘s always going to be in demand – not to mention proximity to the city and the eclectic culture in the area. Who or what inspires you? Big inspirations for me would be the men and women behind small independent businesses. I love the groundroots attitude of hard work and dedication; you can’t teach that. In your ‘briefcase’ right now is… Compendium, my favourite pen and mints – I keep it simple! What apps do you use most at the moment on your iPhone or iPad? The obvious ones are the Domain and realestate.com.au apps, RPData and the ‘socials’. Although the majority of my

I love the groundroots attitude of hard work and dedication; you can’t teach that. data goes to Spotify, I love my music throughout the day. What do you enjoy most about Elite Agent Magazine? The diversity of the content keeps it engaging, from exposing new technologies and trends in the industry to success stories that are always inspiring. Any words to live by? Work hard and treat others well. What advice would you give to someone starting out in real estate? If you are passionate about helping people and genuinely have a lust for property, success will follow. Real estate is not like any other sales role and it is not an easy game. Dedication is key.

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The market just got hotter. Introducing the new-look Ray White Business-ownership opportunities. raywhite.com/joinus

THE WATER COOLER D

Our daily newsletter #THEBRIEF brings you the latest real estate news, tech and marketing tips straight up every day. In case you’ve missed anything, here are some of this month’s trending stories. Subscribe to #THEBRIEF eliteagent.com.au/subscribe.

BRESICWHITNEY NAMED IN TOP 50 PLACES TO WORK

Restructuring brings balance for Ray White’s first billion-dollar agent Superstar agent Michael Willems can boast being the first agent in Australia’s biggest property group to reach over $1 billion in settled sales. A true gentleman, Willems is a ‘what you see is what you get’ type of person. “There’s no magic dust; just work your butt off is the truth,” said the successful residential turned commercial agent, who hit the magic $1 billion in sales back in April. “In the beginning when I started with Ray White Surfers Paradise, I was selling property on Chevron Island and if you sold a property for over $100,000 you were excited. So given my average sale is now over $2 million, it hopefully shouldn’t take as long to get to the second billion!” But Willems is a highly efficient salesperson who is determined to manage his work-life balance with his family. The biggest innovation was when he cleverly hired a full-time driver. “I figured if I cannot have a good income-producing business on 50 hours a week after this many years I’m doing something wrong. But then I realised I spend 15 hours of those 50 hours in my car, driving from home to the office,” he said. “I don’t think you can have a productive business and work part-time. I needed those hours back. So I got the driver and the efficiencies in my week have been huge. “I get in the car and I put my head down and I work.” Then as soon as he gets home at 6pm he plays with his daughter and spends time with the rest of the family. “All my work is finished by 5pm or 6pm. All my phone calls are finished. The minute I get home, I put the phone on to charge and turn it on silent, and no one has ever complained that I don’t call them back until the next morning,” Mr Willems said. 10 ELITE AGENT • OCT - NOV 2017

BresicWhitney was born in 2003 from the vision of founders Ivan Bresic and Shannan Whitney to create an agency that led change and transformed the real estate experience for consumers and its employees. With a belief in collective leadership and a willingness to not only embrace but to create and lead change, the firm has just been named in Australia’s Top 50 Great Places to Work List, released last month. Co-Founder of BresicWhitney, Shannan Whitney said that the award was both “validating” and “satisfying”. He added, “Our main priority here is culture…We prioritise and see the value in workplace and culture and, in my experience, it is lacking in the industry.”

In entering the Great Places to Work Awards, which span all industries, Whitney said, “The real estate industry tends to prioritise and measure success through financial means…to us we want to create a culture where people can be the best they can be and contribute to the vision of the business, and participate as agents and as diverse and talented individuals; but perhaps we take more of a holistic view of what is important.” Having grown to 139 employees across five locations in Sydney, BresicWhitney offers an employer brand as impressive as the brand presented to the marketplace, with a defined focus on career progression, mentoring, benefits and diversity.

Pimp My

Shopfront

PIMP MY SHOPFRONT IS BACK! This time last year, First National in Gerringong, New South Wales was the lucky recipient of a shopfront makeover worth $10,000 after emerging as winners in VitrineMedia’s ‘Pimp My Shopfront’ competition. This year it could be you! Once again Mike Toweel and the VitrineMedia Group are playing Santa Claus for one lucky reader’s office, which will get a New Year shopfront makeover to the value of $10,000. All you need to do is send in a photo of your existing shopfront and tell us why you need a makeover. More information, including terms and conditions, at eliteagent.com.au/shopfront.

FOR LONGER VERSIONS OF ALL OF THESE ARTICLES VISIT ELITEAGENT.COM.AU/CATCHUP

BEATING THE ‘INTERCEPTORS’ What do the ‘Interceptors’ have that you don’t? They understand the power of being on page one of Google and are not afraid to use it. Interceptors such as openagent. com.au, localagentfinder.com. au and agentscompare.com.au to name a few, spend millions of dollars on marketing, but as real estate offices you have something they don’t - local search power. Lisa B has some tips on how to use this to your advantage. More at eliteagent.com.au/ localmarketing.

Home loan refinancing now fully digital in VIC and NSW

1 August 2017 was the banking industry deadline for paperless refinancing in Victoria and New South Wales. If you, or your clients, are looking at refinancing in either of these two states, the applications must now be lodged online with the land registries. WA also has a mandatory deadline for refinancing from December. According to PEXA, the platform which makes electronic land transfers possible, the deadline will enforce the capability to provide consumers with rapid processing of refinancing applications – applications that may have taken up to a month to process in paper format. A statement released by PEXA says, “Mortgage lenders Australiawide are now digitising back office operations. This is a huge milestone with more than 120 lenders now signed up to exchange property online through PEXA’s network. To date, the value of property transacted on PEXA’s network is almost $58 billion.”

RUBINSTEIN TOPS THE LIST Last month, more than 1,200 real estate agents and guests arrived at the International Convention Centre in Sydney to celebrate their achievements at the annual Ray White New South Wales state awards. Ray White Double Bay had a successful night at Getting to know the awards, picking up GAVIN RUBINSTEIN number one city office in settled commission, SPRING SELLING SPECIAL JOSH HART’S AGENT MARKETING REVIEW while Gavin Rubinstein KONDO: THE JOY OF DECLUTTERING // THE WINDOW WOW-FACTOR took out the number one salesperson in the state in settled commission. Gavin can also claim to be the number one residential salesperson in Ray White Australia and, in terms of international ranking across all he is the number three salesperson internationally for powerhouse group. In one of the top awards of the night, Andrew Jolliffe of Ray White Hotels took home the number one commercial performer in NSW. In addition, Andrew is also the number one top sales performer internationally across the Ray White Group. WINNING BIG PAGE 14

REVIVING INDUSTRY WELLNESS PAGE 36

WHAT’S YOUR WORKFLOW? PAGE 56

LEARN FROM THE BEST #18 AUG-SEP 2017

Future tech horizons challenge or opportunity?

COMING SOON

With real estate on Australia’s eastern seaboard increasingly out of reach for many, buying pieces of property rather than an entire house is gaining traction as Australians seek fresh ways to enter the market. Don’t miss our wrap-up online of new ways of buying and selling real estate by in-house features writer Azal Khan, covering Brickx, Domacom, Assquire, Ten-x and others. More at eliteagent.com.au/tech17. eliteagent.com.au 11

THE WATER COOLER ANDRE FRACK: LEADING FROM THE FRONT Congratulations to R&W Bondi Junction principal Andre Frack. At the beginning of the year he had a shortage of salespeople; rather than hire, he decided to see what he could do himself. “I really just wanted to be number one in my marketplace and show what I could do,” says Frack, laidback in jeans and sneakers, and putting on a convincing show of being

anything but your highperforming, hard-working, stress-wired real estate agent. So what’s the secret to turning a middling sales performance into one that positions him at the top of a network that boasts some of the top sellers in the country? “I’m not your typical agent,” says Frack. “I don’t mine data, I don’t canvass, I don’t door knock, I don’t do scripts and I don’t have a social media profile. But there’s never a moment that I’m not working, on the phone, meeting people, working a deal.”

FOR LONGER VERSIONS OF ALL OF THESE ARTICLES VISIT ELITEAGENT.COM.AU/CATCHUP

IT’S NOT YOU, IT’S YOUR SUBJECT LINE By Ash Farrugia, CEO ActivePipe I LIKE TO THINK of a subject line

like a pick-up line – if you get it right, you’ve got a chance to prove yourself and if you get it wrong no one is going to listen to what you have to say. A subject line has to be compelling enough to convince a person that you won’t waste their time and interesting enough to make them want to learn more. Here are some tips to make sure people respond to your communication. THE VALUE-FIRST STRATEGY We’re all a little bit selfish with our time. Tell your clients the benefit of reading the email as incentive to click through. eg ‘How to prepare your home for the best selling price with interior design’ A QUICK AND EASY FIX Human beings are wired to look for the highest return on the lowest investment. Implying a quick and easy fix to a problem will appeal to their self-interest and motivate them to read on. eg ‘5 fast and simple ways to declutter your house before an OFI’

FAIR WORK COMMISSION HANDS DOWN AWARD REVIEW DECISION The Fair Work Commission has ruled on a number of matters in relation to salary levels and types of work-related payments in the real estate industry which, at the earliest, are mostly due to come into force on 1 January 2018. These changes include increasing minimum awards wages, commission-only arrangements, debit credit restrictions, plus other items. These are explained in detail by Bryan Wilcox, the CEO of the Real Estate Employers’ Federation, online at eliteagent.com.au/fairwork.

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A GENTLE THREAT How will reading this email protect your contact from a future they don’t want? Fears of loss, missing out and making mistakes are powerful motivators. eg ‘You’ll never sell your home without these three things’ EXCLUSIVITY No one wants to think you’re sending your offers to every Tom, Dick and Harry in your database. Make the contact

feel exceptional with subject lines that speak to them directly. You can achieve this with a broad identifier. eg ‘Investors, this is the perfect property for you!’ HAVE SOCIAL PROOF People look at the behaviour of others to make a decision. They take an interest in their success and are eager to learn from their ways. eg ‘Joe Blogs tripled the value of his home with one simple trick’ ASK A QUESTION A question is the ultimate psychological ploy. Your contacts will subconsciously answer it and want to find out more. eg ‘Do you know what your home is really worth?’ SPARK CURIOSITY Make your subject lines openended to escalate intrigue and increase anticipation. eg ‘We didn’t believe Isaac’s story either’ CONVERSATIONAL TONE No one wants to communicate with a robot. Be lively, upbeat and conversational. eg‘Hey Lucy, home prices in your area are off the charts!’ Above all, make sure the content matches the thriller. If you keep luring them in under false pretences you’re not going to go anywhere. To find out more about ActivePipe visit activepipe.com.au.

Join us on a remarkable journey.

Century 21 is building the future of real estate. We bring together the latest technology and forward thinking agents — and through innovation, we help you generate more leads so you can list and sell more property.

If you’d like to join an office network committed to looking forward, you should talk to us today.

1300 24 21 21 — c21future.com.au

Think Future Think C21

EVERYONE'S TALKING ABOUT…

SCIENTIFICALLY SPEAKING IF YOU THOUGHT IT WAS tough to find one or two points

of difference to win a listing, how many listings could you win if you had 17 or more of them? For Ray White Principal Rachel Lawrie of North Adelaide, SA, this is the competitive advantage she has realised in becoming a Liveability Real Estate Specialist and part of what has helped her to a near-perfect appraisal to list ratio.

AS AN AGENT, RACHEL LAWRIE professes she is different than most, but when you get talking

to her it’s clear that’s definitely in a good way. Having grown up in the country on a farm, and also having experienced physically and mentally challenging work as a marine biologist for 16 years, she says, “I’m used to doing that sort of hard work, those hard hours. In the country and as an aqua-culturalist that’s your income; if you don’t do the job properly you don’t have an income for the whole year.” Rachel made the switch into real estate, she says, out of the necessity to be around more for her two young daughters. Completing her real estate course in 2015 and “sprinting out” into the industry, she wrote $400k in GCI in her first year. And, she says, much of it is down to being a “true professional” and investing a great deal in the community and sponsorships. Another part is her Liveability Real Estate Specialist qualification which allows her to approach listing and selling in a way that appeals more to the increasingly cost and environmentally conscious buyer or tenant.

PROPERTY MARKETING BACKED BY SCIENTIFIC PRINCIPLES Originally conceived under the LJ Hooker umbrella, The Centre for Liveability Real Estate is now owned by the CSIRO, who are inviting all real estate professionals to become Liveability Real Estate Specialists like Rachel by completing their award-winning training course. Rachel has followed the concept of Liveability from the beginning. “Being a scientist, it

14 ELITE AGENT • OCT - NOV 2017

all just made sense and I wanted it straight away, and I was one of the first on board the training as I could see the benefit. “Every industry I’ve worked in, or I’ve grown up with, if you value-add you are going to be able to promote yourself better and your clients. So I was like ‘Wow, I’m going to do this’.” Under the CSIRO’s property marketing framework, there are 17 Liveability Property Features which can give a property potential for reduced running costs and increased comfort. As a result of the training and applying the framework, Rachel says that she can have in-depth, quality conversations with all of her clients. “I was having seriously meaningful conversations about every home that I was trying to list or sell with the vendors and the purchasers, or even the landlords with investment properties.”

ONGOING RUNNING COSTS GO DOWN Rachel says the process of appraising the property is straightforward. “I’ll just say to the client, ‘Unlike the other agents, I’m doing two appraisals. Firstly you get your standard appraisal everyone else gives you, and then we’re going to do what’s called a Liveability appraisal where I’ll be looking for features in the home that make it healthy, comfortable, connected, and offer the opportunity to reduce running costs’. And they sort of go, ‘Ah’. Then I explain to them what I do with it, and how it leads me to

negotiate the price of their home up, not down. And they’re like, ‘Wow’. “And so I do the initial appraisal with them, and as I’m going through I’ll ask specific questions which are about that, and make notes. And then, I do the Liveability appraisal. When we sit down at the dining table I get them to give me the evidence required for that at the same time.” The Liveability features appraisal checklist is accessible on mobile devices like iPads, which is what Rachel uses during the listing. If a property has more than six features, the Liveability features trademark can be used on the property listing. The online checklist also automatically generates a more detailed

“The client says, ‘You’re right, you are the professional, you’ve got all this other stuff!’”

point of interest, which gets huge traction. People ring me up to have a conversation about it - and I can send them proof of the property’s Liveability features. That’s when the importance of it hits home to them.”

CONVERSIONS AND REFERRALS When Rachel started with Ray White last October at The Hub in Adelaide, she was at around 89 per cent repeat and referral business. This stemmed from a deliberate decision to work the community and ensure that every person at every open was well nurtured, so that even if they did not use her services initially they would refer people on in any case. “Since I started in North Adelaide [her own business], I’m at a 100 per cent repeat and referral business. “All of the clubs and sponsorships that I’ve invested heavily into, it’s all coming back tenfold now. That’s how it works in the country. I don’t have to go and prospect because my teams and my charities and my foundations do it for me.”

customised listing image which shows the all the particular individual Liveability features that property has. This approval usually happens on the spot. And Rachel says her clients, both men and women, have been loving this for individual reasons. “The wives and the ladies, they love it because I can show them how to run the house more efficiently, because that saves bills coming across the desk. But equally, I’m trained to have those nitty-gritty conversations with the guys about the pumps and the plumbing and the engineering, about the depth of the mechanics of the home, which they seem to like the idea of.”

PROFESSIONAL SERVICE MEETS PREMIUM FEE In terms of protecting her fee, Rachel writes an email to each client with a very detailed breakdown of why she charges the professional fees she does. “The other day I walked away from [a listing]; the client kept wanting me to compromise my fee, even though I had all these extra qualifications.” But, she says, they came back. “The client says, ‘You’re right, you are the professional, you’ve got all this other stuff!’” South Australia has some of the highest energy costs in the world right now and Rachel says that potential purchasers or tenants see the icon and call her for a chat, because of the reduced running costs. Having the Liveability Real Estate Framework supported by CSIRO gives the program credibility. “It’s created a great

In addition to that, in the time since she implemented the Liveability framework into her listing presentations, she says the difference in her figures has been staggering. “To see my figures grow the way they did, I had to review exactly why and where they grew. My prices went up 15 per cent. My conversion of appraisal to listing ratio went up 17 per cent. “I had a pretty good conversion ratio at around 81 per cent. I’m now at 98 per cent. I barely miss a listing. The majority of listings I miss now are due to me letting them go because I don’t think the client aligns well with me. They don’t respect my professional opinion and experience, and/or want me to compromise my integrity, morals and my ethics.”  SAMANTHA MCLEAN

WHAT ARE THE 17 THINGS™? The 17 Liveability Features are property features which cover location, floor plan and layout, key building structure elements, important energy and water-saving inclusions, and a vibrant community experience close by. It is not an energy rating but a ‘features-based’ checklist. Each feature has benchmarks which must be met when the agent conducts their appraisal walk-through. The features (the 17 Things™) are not numbered in the checklist in order of importance; rather they are designed to mirror a property ‘walk-through’ from the front door, through the house and back out again. In this way it makes it easier for agents to appraise the property and easy for people to validate at an open home. • Climate zone for this property • Living locally • Orientation • Cross-ventilation • Zoning • Insulation • Density of building materials • Windows (glazing) • Shading or sun control • Efficient heating and cooling devices • Energy efficient lighting • Efficient hot water system • Solar photovoltaic (PV) system • Low-water garden • Water efficiency devices • Rainwater tanks • Energy rating – state and/or national scheme.

The Centre for Liveability Real Estate runs courses regularly for sales people and property managers. If you are interested in upskilling to become a Liveability Real Estate Specialist like Rachel you can book at liveability.com.au. Rachel will be speaking at ‘How to Lead a Winning Team in 2018’ on the topic of ‘How to use science in property marketing to win the listing’, specifically talking about how she differentiates herself from the competition. For more information and to book tickets visit eliteagent.com.au/ win2018.

eliteagent.com.au 15

EVERYONE'S TALKING ABOUT…

THE AGE OF INFLUENCE IN THE CURRENT DIGITAL landscape where attention is scarce, noise and complexity are

high, and standing out is harder than ever before, how do you become the go-to authority in real estate or in your field? Samantha McLean finds out from Julie Masters, CEO and founder of ODE Management and Influence Nation, the techniques that will get you the right type of attention from the right type of customer. Influence (n): the capacity to have an effect on the character, development, or behaviour of someone or something, or the effect itself. Trust (n): firm belief in the reliability, truth, or ability of someone or something. PUT THESE TWO terms together, influence and trust, and according

to Julie Masters you create the most powerful tool possible to market either yourself or your business. Welcome to a new age of authority marketing. Masters herself has spent a career decoding influence. As a leading authority in the speaking world, she has earned a reputation for launching and advising some of the world’s most respected thought leaders, including industry-leading CEOs, speakers, bestselling authors and media personalities, whose combined voices have reached millions of people globally through speaking, publishing and digital channels. And in the 15 years she has spent in the industry both in Australia and overseas, Masters says that while the definition of influence has remained the same, what has changed remarkably is ‘the how’. As humans we are no longer necessarily following brands but more

16 ELITE AGENT • OCT - NOV 2017

trusting instead of individuals. “The rise of the influencer has been a really interesting shift in attention. For example, L’Oreal used to be more powerful than Taylor Swift. Now Taylor Swift is more powerful than L’Oreal. Nike used to be more powerful than Ronaldo; now Ronaldo is more powerful than Nike. “As a result of all of that, how we compel people has shifted from an ‘out-spending’ model, which is what I would call a volume strategy where you outspend, out-shout, outimpact everyone else in the marketplace through traditional methods, to an out-contributing model. By ‘out-contributing’ I mean providing value. Figuring out where the pain points are, what the opportunities are for

the people that you’re trying to reach and being the translator in your industry where you’re out on the fringes and bringing back important information for your tribe.” What does this mean for your marketing to consumers in the real estate industry? Masters says, “Ninety-three per cent of people make buying decisions based on the recommendations of an actual human being. Only 14 per cent trust a brand message. That makes you more powerful than Microsoft, more powerful than Apple in a way. “The good news is you can now stand out and own your space as a thought leader and an influencer with very little budget. You have access to

every single media channel. You are a publisher. You can have your own TV channel if you want to get on YouTube. There is no reason not to stand out and own your space any more.” Can everyone be a thought leader? “In the old days,” says Masters, “there was a guru on leadership, there was a guru on health and wellbeing. There were a handful of gurus who owned very big spaces. Now that the marketplace is

are three other ‘secrets’ to becoming a micro-authority, or to being trusted in the new age of influence: epic contribution, authenticity and intention. “Firstly, you need to contribute on an epic level. You need to know what your customers are struggling with. You need to know what the opportunities are. And you need to keep contributing so they keep looking to you for what’s next, what do we do now, how

“You can’t be the guru of real estate. What you can do is own a small space that contains enough people to keep you and your business happy for a very long time.” completely democratised, you can’t ‘own’ one particular space any more. You can’t be the guru of real estate. “What you can do is own a small space that contains enough people to keep you and your business happy for a very long time, and that’s what a micro-authority is.” To be a micro-authority you need to work out where your own personal influence intersection is. “What are two worlds you can own that nobody else can own? Justine Musk, once married to Elon Musk, when asked what was the secret to his success, said when you become a master of two worlds (say, engineering and business), you can bring them together in a way that will introduce new ideas to each other. This creates a competitive advantage because you can move between worlds and connect the tribes and create magic. And that’s really true; that is the secret to becoming a micro-authority.” Masters now regularly advises CEOs, entrepreneurs and executive teams on how to dominate their marketplace by turning their expertise into influence. She says there

do we master that? “Next is passion versus perfect; that’s what we call authenticity. Often we stay quiet because we’re not perfect, and we don’t share because it’s not perfect and we might change our mind tomorrow. If you look at people you follow, I guarantee you they’re authentic in their journey. They’ve got their ups, their downs, the things they tried, the things that didn’t work. “The final one is being really clear about your intention. You look at someone like Jamie Oliver and you’re really clear about who he serves and why. Get clear about who you serve. Get clear about why you’re serving. Then everything, every piece of communication needs to come from that place if you are going to garner trust in a new age of influence.”  SAMANTHA MCLEAN

Julie Masters will be speaking at ‘How to Lead a Winning Team in 2018’ on Nov 14 on the topic of ‘How to dominate online in a new age of influence’. For more information and to book tickets visit eliteagent.com.au/ win2018.

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EVERYONE'S TALKING ABOUT…

HOW RISKY IS YOUR BUSINESS? CYBER RISKS, PUBLIC LIABILITY, management liability,

strata and Director’s and Officers’ cover are just some of the insurances that any real estate business should likely be carrying, along with other covers like employment practices, motor vehicle cover, business travel insurance and workers’ compensation. Many agents have found, with increased risk around them, it really pays to talk to an experienced broker who can tailor insurance to your needs; and it is also way better safe than sorry. THERE IS NO DOUBT that the business of

real estate has its rewards, but also its challenges. From legislation to professional standards, regulations to duty of care, licensing to continuous education – there’s a lot for real estate professionals to take into account, even before they start selling and managing property. Into this mix of considerations is protecting the business – and the agent’s livelihood – by selecting the most appropriate insurance. As part of their licence to operate agents may need to hold certain insurances, such as professional indemnity (PI), which is also sometimes referred to as Errors & Omissions cover. PI is designed to protect agents against legal costs and any claims for damages from third parties which could arise from an act, omission or breach of professional duty in the course of their business – in other words, if the agent is accused of negligence or failing to adequately carry out their duties. It’s a common misconception that agents only need to hold PI to cover their sales work, when in reality most PI claims stem from the property management side of their business, according to Sharon Fox-Slater, Managing Director of EBM’s RentCover. “Every year we see at least one hundred PI claims that relate to property management, yet only a handful relating to sales,” said Ms Fox-Slater. “Frequently those PI claims are the result of poor property management practices. We often see claims where the agent has done their job, but not well enough and tenants end up injured as a result. “And while liability often rests with the owner of the property, the agent is also held partially to blame for failing to act – and when

18 ELITE AGENT • OCT - NOV 2017

Sharon Fox-Slater

“We often see claims where the agent has done their job, but not well enough.” the lawyers get involved you can pretty much guarantee that there will be apportioning of responsibility and ultimately compensation.” Ms Fox-Slater pointed to one recent PI claim where the pergola at an investment property was riddled with white ants and was unsafe. The tenant told the agent, on numerous occasions, that they were concerned about the safety of the pergola and the agent advised the landlord. The landlord asked for quotes to repair or replace the pergola and there was a lot of back and forth between the agent and owner. The tenant was so concerned about the safety of the pergola that they paid their full rent until the end of the lease but decided to vacate the property early. During the move,

the tenant had to remove some items from the back yard and while doing so the pergola collapsed, breaking the tenant’s leg. Although the agent did the right thing in notifying the landlord about the pergola’s condition, they failed to stress the seriousness and urgency of the matter strongly enough and, as a result, they shared in the blame for the tenant’s injury. “Luckily the tenant’s injury was not more serious, but there are many incidents where tenants have suffered life-altering or fatal injuries as a result of urgent repairs not being made soon enough at their rental property,” said Ms Fox-Slater. “These incidents are an important reminder to all agents about their legal responsibility when it comes to urgent and emergency repairs, but also about the impact that poor management practices can have on the people involved.” Given the importance of having the right PI cover, Ms Fox-Slater recommends that agents seek out the services of insurance advisers with extensive experience in the industry. “You can purchase the mandatory insurances through a wide range of insurers, but when you speak to a specialist broker you are dealing with someone who truly understands the risks associated with the real estate industry and can take a more holistic approach to risk mitigation,” she said. Ms Fox-Slater notes that, depending on the individual operation of each agency, there are specific risks and covers often available to suit. “Beyond the obligatory PI cover, agents should look at comprehensive cover that protects their physical property and their business. For example, our OfficeCover provides cover for property building and contents, business interruption, broadform liability, glass breakage, machinery breakdown, general property and statutory audit fees,” Ms Fox-Slater said. “Residential and commercial landlord insurance is also needed to help protect the agent’s rent roll. “In addition, agents may like to look into cyber risks, public liability, management liability, strata insurance and possibly even Director’s and Officers’ cover, statutory liability or employment practices liability. Then of course there are other covers that can help protect the business, like motor vehicle cover, business travel insurance and workers’ compensation. “So it really pays to talk to a specialist broker that can tailor your insurance packages to your exact requirements – and make sure you have the protection you need at the best possible price.” 

FIRST PERSON

Josh Phegan

Rethinking your systems

THE NUMBER ONE reason a business fails is because it lacks

clarity about its purpose and direction. When it comes to the latest technology, Coach Josh Phegan recommends asking, ‘Will this or won’t this help me get to where I want to go?’

The challenge with technology in our industry is that we’re not playing a big enough game. It’s our strategy that’s wrong, not the technology itself. In recent years we’ve been longing for a piece of tech that does it all, a magical database that lets property management and sales play together. Instead, what we’ve developed to date are silos of data, systems and departments that don’t talk – and little vision for what’s possible. The new world is about app stacking. There’s an app for that, and modern APIs (application protocol interfaces) allow truly dynamic systems to talk to each other. Fascinating new technology like Clearbit allows you to take an email address, then bring in the latest data, including first name, surname and even mailing address and contact number, by researching over 80 different lead sources across the internet to tell you more than just surface-level information. In an app stack, you engage with the best in class apps that do individual components incredibly well, talking with existing systems to ensure one true source for customer

20 ELITE AGENT • OCT - NOV 2017

data. If you feel Xero is best on ground for accounting then you use that; if you like MailChimp for automated email marketing, use that. If you prefer Google apps for email, calendar and docs, then use that. The key is to ensure an open architecture around the API and use incredible systems like Segment and Zapier to allow individual systems to talk. No longer are we in an age of waiting, or praying for one app that masters it all; instead we’re looking for best in class, best in world apps to come together to ensure the perfect customer journey. It requires you to sit down and define what you want to see happen, from lead generation to nurture, nurture to conversion and back again. Once you’ve defined it, then you go in search of the systems that can deliver what you want. The most important things to consider when evaluating new technology: • Does it make it easier, faster or cheaper for us to serve our customer? • Will it uphold the customer service standard and provide reporting to identify gaps in the service standards? • Is it mobile-first? We have a mobile-first approach to

to do what Google does so well. My vision for the industry is to be able to do a Google search on your data to bring up rich search results that enable better work: ‘Google, find me all past clients that bought a property from me in September.’ Then have all the clients appear. Broken CRMs make us search all past clients, then narrow it down to September, then narrow it down to the year. So if your business has been in operation for ten years, you have to do ten searches to find all past clients in September. Crazy, I know. And it’s exactly

No longer are we waiting for one app that masters it all; instead we’re looking for best in world apps to come together to ensure the perfect customer journey.

every piece of technology we evaluate. If it’s not good on mobile, we don’t use it. • Does it have a truly open API, meeting API industry standards – not just oneway sync, but true system integration? I always prefer to build a manual system first before I bring in the tech. Past client anniversaries are a classic example. Most databases have no real way to empower search

why sometimes a manual system, like my grandfather had in 1972, wins. All he had was 12 exercise books he’d bought from the local news agency, labelled by month. He’d open up his September one, and in that was a list of all the past clients who’d bought or settled in that month over the history of the business. He’d add any new sales and file it away for next year. Stunningly simple, highly effective. So before you go app crazy, or go all in, define what it is you want to do. Then go all in, learn everything you can and use technology to your advantage. A system rarely works on its own if it’s not well thought out. 

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.

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FIRST PERSON

Rob Ward

Defying the Disruptors

EVERY DAY WE seem to hear about another disruptor entering

the real estate space. What will the impact be? How will it change what we do? How will our industry respond? Time for Australian agents to wake up and work together before it’s too late, says Rob Ward, CEO of Di Jones Real Estate.

The constant speculation around industry disruption led me to attend Inman Connect San Francisco last August – a real estate conference exploring current industry trends and technology, and focusing on how agents can leverage the benefits of changes and innovations to grow their businesses. From the moment I stepped into the conference, one thing was clear. We’re in a race. A race to secure our data and leverage it for the benefit of our customers.

As I walked through ‘start-up alley’, where potential disruptors lined up to tout their innovations, a clear theme came through. We need to better understand our customers and we can do this by analysing their data trail and using it to target a more relevant and valued service. It made me stop and question whether we really know our customers. One of the major themes at Inman Connect centred on how much agents should be paying for leads. It’s an interesting issue,

We arrogantly believe we ‘own’ customers. We don’t – and it’s time to wake up.

22 ELITE AGENT • OCT - NOV 2017

so I decided to find out more. Zillow and realtor.com are the major property portals in the US and, over the last 10 years, they’ve recognised the poor service provided by agents to their customers. They decided to do something about it by qualifying customers when they interact with their websites. They convert these qualified customers into buyer and seller leads and then sell them to agents. For how much, I hear you ask? Their market-based pricing sees leads go to whichever agent is willing to pay the most. Agents are now crying ‘disruption’ and complain about having to share their commission with the portals. But the failing is their own, because to date they haven’t provided a level of service that meets the expectations of their customers. The frustration of some agents about this new reality was palpable as I moved on to learn about iBuyers. iBuyers are pre-qualified buyers who are ready to make an unconditional offer on a property, based on data and without an inspection. Homeowners looking to sell can now access iBuyers directly through Zillow, without the need to interact with an agent.

The service is still in its infancy, with only a few thousand transactions to date, and offers still seem to be on the low side – but how long will that last? Already frustrated by the fact they have to pay for leads, our US counterparts are even more frustrated that they’re now being cut out of the equation completely as customers connect directly with each other through Zillow. ‘We’ve supported Zillow for the last 20 years. How could they do this to us?’ I could hear agents asking. I think a much better question is: How could you do this to yourselves? It’s the same question we should be asking here in Australia. The major portals thrive on an industry that’s divided. Let’s face it, we’re our own worst enemies. If we came together and shared our data, we wouldn’t leave ourselves open to these sort of moves by the portals. Instead, we arrogantly believe we ‘own’ customers. We don’t – and it’s time to wake up. Despite the wonders of technology, our customers crave a high level of service and expect an outstanding experience – and they’re prepared to pay for it. In the absence of service and experience, price becomes an issue and this is what drives customers to look for alternatives. They want value for the money they’re spending. Unless we improve the level of service we provide and enhance the customer experience, we’ll continue to see downward pressure on our commissions and leave ourselves vulnerable to the possibility of living the nightmare of the US experience. Let’s do something about it. 

Rob Ward is one of the real estate industry’s most respected and dynamic young leaders, taking the helm of Di Jones Real Estate in April 2016. For more information visit dijones.com.au.

FIRST PERSON

Evan Broadbent

7 Reasons why quick sales are good sales

THERE ARE MANY reasons why a quick sale can be a fantastic

result for all parties involved. Evan Broadbent lists his seven top reasons why every agent should have strategies in place that facilitate these transactions. The buzz you feel from a quick sale that has resulted in both a happy vendor and happy purchaser more than compensates for that enduring sale that is seemingly taking forever to sell, if you sell it at all.

100 PER CENT STRIKE RATE DOES NOT EXIST I don’t know any agent who has a 100 per cent strike rate for selling every property they list. The simple fact is the longer a campaign runs the less likely it is that you will be the selling agent of that property. We continue to benefit from strong real estate markets in most regions, but it isn’t always this way and buyers aren’t always as readily available.

TIME-POOR SOCIETY Everybody is in a hurry. ‘I want it done yesterday’ or ‘I want it done ASAP’ are two of my favourite sayings, as I’m sure they are yours. In today’s society of instantaneous expectations, both vendors and buyers, and landlords and tenants for that matter, want things to happen quickly. Time is money, and people have never valued their own time as much as they do today. Save your clients’ time and create clients for life.

24 ELITE AGENT • OCT - NOV 2017

URGENCY CREATES ACTION A common objection to a quick sale is that it is not in the best interests of the vendor, because the property has not been exposed to a wide enough market to create competition and seek further interest in anticipation of higher offers. It is a valid objection; however, therein lies your leverage in negotiations. ‘Mr and Mrs Buyer’, or Mr and Mr Buyer, or Mrs and Mrs Buyer (have we voted yet?) this property is yet to be advertised online or in print to a wider audience. We suggest you present a very enticing offer to avoid the vendors going down that path. Remember, you have an early opportunity and a head start on others, so don’t waste it.’ Is a big expensive auction marketing campaign, with a huge floodlit board and VIP night with champagne and canapés, social media videos and front page editorial, really all about the vendor?

THINGS CAN AND DO GO WRONG We all have a story about a vendor who changed their mind (yes, I know – hard to believe) or decided they no longer wanted to sell, or were offended

Things can and do go wrong, and irrelevant of who is to blame you don’t get paid. by a purchaser’s offer, or sacked you because you didn’t tell the buyers about the extra power point under the laundry trough which is great for charging the dust buster, or missed showing them how to use the foldout ironing board that you also forgot to list in the extra features or display in a photo. Things can and do go wrong, and irrelevant of who is to blame you don’t get paid. You

have donated your valuable time to a vendor who will also share their trauma on Facebook.

MORE TIME TO PROSPECT FOR THE NEXT LISTING As hinted earlier, some agents want a strong campaign to simply help promote themselves and their agencies, meet more potential clients and build their database, and so on. I get it. Absolutely. But doesn’t a nice quick sale actually free up more time to prospect for the next listing, plus achieve what we are ultimately employed to do – sell property? Don’t complicate it.

SAVE $$$ Print media may be on the decline, but online advertising costs are not. Although most offices now charge 100 per cent vendor-paid advertising, there is still substantial leakage in many businesses along with agreed but unpaid advertising to be collected, and deals done to secure listings. When considering this, along with a dollar value placed on your time, a quick sale has the highest profit margin – an important metric when assessing the success of any business. Not to mention the fact that you can also save your vendor thousands of dollars and most of them will be appreciative.

SOMETIMES THE FIRST OFFER IS BEST No need to elaborate, plus I’m apparently over my word limit.  Evan Broadbent is the Managing Director of Harcourts Warragul and the Founder and CEO of Quickrealestate.com.au. If you don’t have steps in place to increase your likelihood of achieving quick sales Evan recommends you visit quickrealestate.com.au and subscribe for free.

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UNDER THE LEADERSHIP OF ANTON BABKOV Siteloft provide

website infrastructure for over 500 agencies around Australia. And their research has found that more people visit your site to find out about you, than to find out about your listings.

On paper, it makes sense: turn your website into a mini portal and promote current listings to generate more enquiries. But buyers and renters flock by the millions each month to portals like realestate.com.au and domain. com.au. By all means highlight your properties and let people search, but don’t lose sight of the fact that from a business generation standpoint the most valuable use of your agency’s website is to attract potential sellers. Your website is an extension of you: according to Eight25Media, 70 to 80 per cent of people will research your business online before they ever pick up the phone. You only get one chance to make a first impression; think about the business you’re not even getting the chance to pitch on because you’re not investing in the right presence, or the right content. Think about the people who never pick up the phone after they visit your website. If I’ve got your attention, here are four simple things you can do to attract potential vendors.

GET MORE CLIENT TESTIMONIALS AND USE THEM Testimonials are the most important element of your website. Reading about past clients’ satisfaction with your work builds credibility, creates

26 ELITE AGENT • OCT - NOV 2017

a human connection and gives visitors a clear indication of what to expect from your business. According to Turnto Networks, online reviews can influence as much as 90 per cent of a person’s decision to purchase – outranking every other form of marketing. If you’re not doing so already, every time you help a client sell their home send an email asking for feedback: • Why did you choose me to represent your home sale?

REFRESH STATIC CONTENT You should be refreshing the static content on your site every two to three months, making sure your website reflects your agency (and the market) as accurately as possible. This means making sure: • agent profiles highlight all recent achievements • information about market trends is up to date • your welcome message (or

DEVELOP A CONTENT SCHEDULE It’s crucial to have a regular content schedule. Great content draws eyes to your website – and keeps them there. Fresh, relevant, useful content is one of the most important Google ranking factors. To put it bluntly, if you want your website to show up in Google searches, you need to start writing relevant, targeted and comprehensive copy. To get started, think about what your audience wants to know.

START. NOW. Or even better, yesterday. You might have no problem winning listings right now, but don’t let that fool you. A new generation of homeowners is about to hit your business with a bang. According to Domain, millennials will make up 43 per cent of all homebuyers by 2018, so it won’t be long before they’ll need your help selling their first home. If you haven’t invested the time to make your website attractive

By all means highlight your properties and let people search, but don’t lose sight of the fact that from a business generation standpoint the most valuable use of your agency’s website is to attract potential sellers. • What did I do best to help your home sale? • Would you recommend my business to others? That content isn’t any good in folios or listing presentations. Post your reviews to your website and your agent profile. Broadcast them on your social media channels. You don’t need to go overboard. According to BrightLocal, 90 per cent of visitors read fewer than ten reviews before forming an opinion about a business. But 73 per cent think reviews older than three months are no longer relevant, so you’ve got to keep them current.

‘About Us’ section) remains relevant and engaging. This type of content is often added as an afterthought during the process of getting a new site up. We always intend to change it – but in our experience those good intentions are forgotten as soon as the site goes live. We always invite Siteloft clients to consider the amount of time and money they invest in prospecting for listings. Then we ask them to consider the time they spend preparing the content that will likely make the first impression when their potential clients are researching them and their agency.

to potential vendors, you’re not going to be their agent of choice. Think about how many hours a week you spend crafting the perfect ad text – and how much time you spend tailing photographers while they snap your listings. You should be spending at least double making sure your website appeals to potential sellers. 

Anton Babkov is CEO of Rex Software, a real estate software provider with 60 staff and more than 1,000 agency users. He talks regularly with Rex users about technology and innovation in the industry. For more information visit rexsoftware.com.

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FIRST PERSON

Kylie Davis

Update before you innovate PEOPLE NOW SPEND NEARLY an hour a day on Facebook and

social media, scrolling through posts and chatting on Messenger. This figure is up from 20 minutes a day back in 2015 and is a number Facebook is intent on increasing further. Kylie Davis therefore asks the question: Why do agents still invest so much time and money in outdated practices like letterbox drops? Research shows that people touch their phone 2,617 times a day – the equivalent to 145 minutes, not just on Facebook, but doing anything and everything. Compare this to the amount of time people spend rushing to their letterbox to eagerly pore over the latest flyers and junk mail, and open their bills. Wait? You mean you don’t do that? Not even for five minutes a day? Wow. Okay then, so answer me this – why do real estate agents continue to spend so much on generic letterbox dropping? Why on earth do we persist in engaging with a practice that is becoming so irrelevant we don’t even spend time on it ourselves? I’ll answer for you. Because it’s familiar. Because it feels safe. Because you know how to do it. Because it’s physical and tangible. Walk down a street and stick flyers in letterboxes and you feel like you’ve done something purposeful – you spent an afternoon trying to win business. And how’s it working for you? One lead out of 100 flyers? Is that really going to make you a million in GCI? At the recent REIQ Tech Day, it was highlighted that one of the greatest challenges today is not

28 ELITE AGENT • OCT - NOV 2017

about trying to understand all the technology that is pushed upon us, but being flexible in our approach. “The old world was complicated and you needed expertise to succeed,” said Greg Dickason from CoreLogic.

“But the new world is complex and now you need adaptability to succeed.” How can you be more successful and innovative in an ever-changing world? The trick is not to focus on making the latest do-dad or upgrade. The

Research shows that people touch their phone 2,617 times a day, the equivalent to 145 minutes – not just on Facebook, but doing anything and everything.

trick is to focus on yourself and to make time in your week, not to do the familiar, but to try and learn something out there that is new to you. Want to win the technology race? You don’t need to ace writing code or launching an app. Instead focus on your own adoption of new ideas that are already around you. Look at ways you can ace execution of just one thing well. Put an hour or so a week into doing that, rather than spending an hour on something familiar. Let’s use the letterbox flyer example. What would happen if you actually fished where the fish are? What would happen if you put information about your business in the place where people are now spending an average of 50 minutes a day, instead of the place where they put five seconds of their attention as they strip out the junk mail and place it straight into the recycling? Would that improve your conversion? What would happen if you spent the two hours a week and the cost of flyers creating content that was helpful and useful to property owners, that helped them research the area or better understand the value of their home, and posted that on Facebook? According to Techwell, video converts 40 per cent better than any other content on Facebook. What if you upped your conversion rate from one per cent for the flyers even just a few points closer to 40 by getting more comfortable creating video? Wouldn’t that be a win? You can win the tech race, not by being the first or the fastest to adopt but just by being prepared to practise the most regularly until it too becomes as familiar as dropping a letter into a box. 

Kylie Davis is the head of content and property services marketing at CoreLogic.

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People Partner Alison McGavin

A new way of working Talented but tricky? The generation known as ‘millennials’ have a lot to offer if they find meaning and value in their work. Alison McGavin from Real+ shares some tips for ensuring you can engage and retain your top young talent.

he millennial portion of your office, already likely to make up a substantial percentage which will just get larger as time goes by, has quite a different work style to colleagues from other generations. To allow these strong-minded individuals to thrive in your organisation, there are a few rules to abide by – the first being try not to have too many rules! Millennials are dependent on devices in all aspects of their life, so provide them with the best access you can afford. They may want to spend some time working from home, or from the coffee stop down the road, so be prepared to approach this request with flexibility – they don’t have the expectation that they need to be in the office to be ‘at work’. To give them the freedom they want, they need of course to reward your trust with results – and they are very results-oriented. Millennials are not happy to be drilled, but rather are driven by real leadership. They like to be part of the job from start to end, to know how they can contribute and ‘Why are we doing this anyway?’ This generation has a thirst for knowledge and experience gained along the journey, not necessarily from formal education alone. It’s important to millennials that they are part

30 ELITE AGENT • OCT - NOV 2017

of a team, both socially and at work. They have been used to a group collaborative approach to projects from college through to tertiary education, and they like it. Your job as their supervisor is to inspire them to take the journey with you. And when inspired, your millennial will respond positively. With millennials, it’s more effective to give constructive feedback that points out what they’re doing right ahead of what they’re doing wrong. They want feedback, but not criticism. This aligns with the style of schooling they have become accustomed to. As a leader, set up expectations from the beginning, and offer compliments before giving

Millennials are not happy to be drilled, but rather are driven by real leadership. negative feedback. More than ever, millennials view their boss and colleagues as their ‘work family’. Gone are the days where employees would address their boss as Mr or Mrs; they want a boss who is warm and inviting, and someone they can have a real relationship with. Build on this by holding regular team building and mentorship. This advice is based on a

generalised view, of course, and there will always be exceptions. However, if you want to keep those talented, wilful millennials in your business and allow them to thrive, some unconventional thinking will help you do that. 

Alison McGavin is a Senior Recruitment Consultant with Real+. For more information visit realplus.com.au.

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Mindset Corner Jet Xavier

Time to rise and shine Is it time for a new working model in the real estate industry? Jet Xavier explains why the old hustle and grind message is failing people, and how the rise and shine approach is winning more followers every day.

he old ‘hustle and grind’ message perpetuated through current social media platforms and those driven to succeed at all costs seems to be failing people. It is only working for those willing to risk almost everything – from health, family and relationships to retention of staff, good culture and leadership, and much more – to get to the top. The Wall St ‘greed is good’ message of the 80s has failed many and fallen out of fashion, and the ‘harden up and just do it’ slogans are starting to wane amidst a new breed of agents, principals and property managers who would rather rise up and shine than hustle and grind any day. The mere definitions of hustle and grind already give the impression that something is wrong. To hustle, in its purest form, means to push roughly and jostle, and to obtain illicitly or by forceful action. In the real estate context it doesn’t mean this for everyone, as for most hustle has taken on the connotation of pushing yourself to your limits at any expense or cost; to be successful, no matter what the impact. To grind means to reduce something to small particles or powder by crushing it or, in real estate-speak, to constantly be in the game 24/7 – ironically

32 ELITE AGENT • OCT - NOV 2017

crushing yourself. Consequently there is also a pervading message in the industry that if you are not earning a million dollars or above then you are not a successful agent. This is often held up as the Holy Grail in real estate, yet many people have commented that this type of chest-beating approach is not a true reflection of success in the industry, and certainly not a working model to be espoused. Now there is no doubt that hard work is required to achieve any type of success, and that at times sacrifice and doing the hard yards is important. But at what cost and for what? This is where the issue is; not in working at your best and doing everything you can to be a success, but the impact of a message and working model that says ‘just keep pushing and pushing so that everything that is important gets impacted and forced aside’. And you can only push the capacity of a human to work for so long before it breaks. So what is the alternative, and why does the ‘rise and shine’ message resonate with so many? The change itself is being driven by a new generation of young people who refuse to live out their parents’ lives and work practices, or the political status quo that keeps people in the mindless pursuit of meaning through bad work practices. Young entrepreneurs

are starting to drive the new economy globally, rethinking and reconfiguring work/life balance to ‘life balance and then work’. Look at companies like Google and Apple, and wellness and wellbeing programs around the world, and you will see a massive shift in how work is

life and business; there is a better way that allows you to minimise and potentially avoid the pitfalls of the hustle and grind approach. There is a movement towards doing what you love to do and having the psychology of flow at the centre of it. Work for work’s sake is being replaced

There is a pervading message in the industry that if you are not earning a million dollars or above then you are not a successful agent. delivered and practised. People are starting to realise that if you work smarter, not harder, you can still achieve what you want and more, and have less impact on what’s important. By adapting a new way of working we could actually be happier, less stressed and more fulfilled. Money or status or achievement in itself is not the real driver for a successful

by work for the sake of passion and purpose. Work because you love it, not because you have to. It’s time to rise and shine in life and business, and leave the hustle and grind behind. 

Jet Xavier is one of Australia’s leading mindset coaches for real estate sales professionals. For more information visit jetxavier.com.

Data Insights Eddie Cetin

10 Productivity apps leading agents use every day

The future of real estate lies in the hands of those multi-tasking agents who leverage their daily efforts with smart tech. Eddie Cetin looks at the best apps for busy agents.

new generation agents are mobile agents. With fewer physical hours in the office, collaboration with their colleagues is still critical to success – as is their desire to nurture more relationships with prospective clients. You might be wondering: how do these uber-agents keep all their plates spinning? How can they be fast, accurate, connected and productive whilst being outside of the office? The answer lies in productivity apps, the most important of which is your CRM’s app – enabling you to manage hot prospects, buyers, listings and OFIs on the run, whether online or offline. Apps also enable real estate businesses to reduce timeburgling email communications, freeing up valuable time for prospecting and client care. We see high-performing agencies embracing cloud technology working seamlessly between desktop and mobile – with some agents (including market leaders Ouwens Casserly) ditching the desktop altogether and adopting hybrid devices like the iPad Pro. In addition to your database app, here are 10 must-have apps built to leverage your productivity. Whilst not all are real estate-specific, they will each make a profound impact upon your daily efficiency and success!

34 ELITE AGENT • OCT - NOV 2017

TOTAL COMMUNICATION PLATFORMS Facebook Workplace Brand new from your favourite social networking platform comes Facebook Workplace, which offers a secure online environment to communicate with your team in real time. It’s already in use by top real estate performers in Australia, including Morton Real Estate. Office 365 and Google Business Using privately hosted servers can cause agencies serious and costly tech problems. Upgrade to Office 365 or Google Business for your agency’s emails, calendars, tasks and contacts; both of these cost-effective platforms will easily connect to your CRM to sync appointments and more. WORKFLOW COLLABORATION Trello An attractive app ideal for team workflow management and collaboration. Using Trello’s intuitive board interface, you can track your own activity and observe your colleagues’ results. Trello is the ultimate for checklist lovers. Any.Do Got a long to-do list? Break it down with Any.Do’s simple task management functionality. It even allows you to talk to your phone, and set a reminder that will sync with your calendar and tasks. INTERNAL COMMUNICATIONS Slack The best of the best! Slack is one of the most popular internal communication

platforms in business. Create bespoke team channels with specific colleagues, or communicate company-wide in a moment. Easy to use on both mobile and desktop, Slack has changed the way teams work remotely. WhatsApp Used by many agencies, WhatsApp is a great way to easily share photos, videos and updates. Some agents take photos of their OFI sheets and send them straight

Some agents are ditching the desktop altogether and adopting hybrid devices. back to admin via WhatsApp for CRM input. Pro tip: do you have repetitive tasks in your office that you could have completed at a lower cost offshore? Australian agencies are already amping up their productivity with professional offshore task management in hand with tools like WhatsApp. RP Data CoreLogic’s suite of mobile apps is proving a winner for savvy agents who choose to offer prospective clients a free RP Data postcode report in exchange for their email

address. The Mobile Lister App encourages heightened levels of participation from potential vendors during the appraisal process, allowing them to view comparables and calculate a listing price on their own property within a pre-set range. Such involvement helps manage vendor expectations, while reducing price objections. RP Data’s Mobile Lister App is loved by the team at Ouwens Casserly.

SOCIAL MEDIA Buffer Lighten your social media burden and post across multiple platforms, including Facebook, LinkedIn and Twitter, using Buffer. Buffer also helps you to track results on these platforms, so you can observe what your audience is engaging with. Evernote Evernote helps you to organise your thoughts into handy digital notebooks, which live within the app both on your desktop and your phone. Once within Evernote, your notes are easy to share with your team. You can also add dictation and photos to your Evernote app! DocuSign DocuSign is changing the way clients sign off on contracts. Leading the way in the category of digital signatures, DocuSign can be used for appraisals and is now integrated with REI Forms Live.  Eddie Cetin is the founder of Agentbox. For more information visit agentbox.com.au.

Business Depot John Knight

How to survive the business of family Many real estate agencies are classic ‘family businesses’ with more than one family member working within them. John Knight looks at the challenges and the opportunities unique to family business.

rowing up in a family business, I never knew any different than the sound of the fax machine early in the morning and Dad being on call 24/7. Although I became the disappointing son who did not want to be an electrician and take over the business, these experiences as I was growing up gave me an insight into family business that I often lean on. As if work was not hard enough already, being a family business adds another layer of complexity that needs to be constantly monitored and managed – especially in the high-performance environment of real estate. I have seen many family-run real estate businesses achieve enormous success, but I have also seen many never reach their potential because of ‘family’ issues. The top three barriers I see to success in family-run real estate businesses are:

THE MEDDLING MUM AND DAD I have seen it time and time again: the senior family member, usually the mum or dad, keep saying they want their kids to take control but simply do not truly let go. Often the next generation are ready but constantly feel like their efforts are over-ruled and they start to question why they bother. Suddenly, concerns arise that ‘Mum and Dad will

36 ELITE AGENT • OCT - NOV 2017

never let go – why am I wasting my time here?’

THE GUNG-HO GRANDSON There is a common statistic that 90 per cent of a family’s wealth is lost by the third generation. Maybe it is the different relationship between the founders and the

The senior family members keep saying they want their kids to take control but simply do not truly let go. grandchildren that makes them oblivious to what is going on, or maybe they just have such a strong desire to keep the business going that they leave it in the wrong hands. Personally, I believe it is more about hardship – the third generation are so far away from the tough days they don’t have the fear of failure. Great family real estate businesses are constantly telling stories of tougher days to ensure the following generations don’t forget how hard it can be when those sales don’t come easy.

SQUABBLING SIBLINGS Family businesses are different and there is nothing surer than sibling rivalry rearing its ugly head when brothers and sisters end up working together. I have been in a boardroom with multiple generations to discuss succession strategies only to hear something along the lines of ‘Johnny always gets what he wants’. In real estate, this is often amplified when one family member sells and can easily show the value they provide, compared to another looking after the back office and often under-appreciated. FROM SURVIVING TO THRIVING If you want your family real estate business to shift from surviving to thriving, here are my top tips: 1. As the family leader, change your role by letting go of a key function in the business. Maybe it’s managing the accounts, presenting the awards or dealing with recruitment, but it needs to be something visible to the team and the market. 2. Give every family member clarity on their role, from sales to PM and back office or marketing. Clarity, not charity, is required so everyone has a sense of purpose. 3. Reward the role, not the individual. Asking someone to sell but paying a flat salary usually ends in the person feeling ripped off unless there is some other type of variable reward. 4. Document your succession and exit plan. Show the

family how they will get equity in the future, whether by gift or acquisition. 5. Manage performance of family members the same way you do others in the business. Feedback is even more important to ensure trust and competency exist both ways. 6. Sit down and document your family business vision and mission – no different to any other business. 7. Invest in the EQ and IQ of the family group. A little selfawareness goes a long way to making sure the team works well together. 8. Invest in a family charter – it’s like a shareholders’ agreement or constitution for the family and includes rules like not taking work issues home. 9. Estate planning should never be an afterthought; it is even more complex when only some of the family work in the business. 10. Some family members just shouldn’t be in business together. Talk about the elephant in the room. The most successful businesses are those that have multiple individuals with a vested interest in its success. This, combined with the passion and emotional connection, can make family real estate businesses a real force to be reckoned with. 

John Knight is the Managing Director of businessDEPOT, a team of energetic accountants and advisors. For more information visit businessdepot.com.au.

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cover story

The Futur

38 ELITE AGENT â&#x20AC;¢ OCT - NOV 2017

e of REAL

ESTATE PRINT MEDIA, DOOR-KNOCKING, letterbox drops and

handwritten notes: it sounds a bit like a coaching mixtape from way back. While everyone expects the younger generation to be behind a tablet or mobile, these agents who are the future of the industry are actually more sold on the traditional listing techniques that top agents were successful with 20 years ago. But perhaps what sets them apart is that passion to go the ‘extra mile’ for their clients in a market where competition is more fierce than ever. And, as you would expect, they do have a tip or two on how to maximise the tech they have grown up with. Azal Khan time travels backward and forward with some of the promising new talent at The Agency. ANJI LAKE New girl on the block Anji Lake knows how to think outside the box. Having joined The Agency Eastern Suburbs just a few weeks ago following a career in fashion PR and in sales at BresicWhitney, Anji has had to hit the ground running to forge her own path as an agent working independently without support staff or under a lead agent. This has meant being more creative in her lead generation approach and combining traditional and digital methods. “In a day and age where no one knocks

on anyone’s door any more, people do sometimes get a little bit of a surprise because they go, ‘Wow, okay, she didn’t call me beforehand or send me an email to let me know they’ll be knocking on my door’. “Some people do find it a bit confronting, but once you actually provide them with information that is valuable then people really do drop their guard and actually appreciate that face-to-face contact. Especially in a world where everyone is hiding behind their computers and iPhones.” A focus on cultivating good relationships with buyers has given Anji an edge in an industry that is being constantly disrupted by tech. “I think we’ll see an explosion of a lot of companies opening up on the internet,

making it a lot easier to sell a house. I think our job as the agent is to show that we can actually provide an amazing service. Things change in minutes these days, so we have to work a little bit harder.” With over 7,000 followers on Instagram, Anji knows the power of personal branding. “Social media doesn’t really generate a lot of leads for people, but it gives you great exposure. I think it gives potential sellers or buyers an insight to who you are. So doing my little videos, putting together some good content, I think is a really good way to capture who you are as an agent.” Despite not being in a team at The Agency, Anji knows she is part of a greater team and the lack of competition amongst agents is part of the success of the business. “I can call any one of these agents any time, male or female, young or older, and they will take my call and give me fantastic advice or just listen. I think that speaks volumes about the company.

eliteagent.com.au 39

cover story “I was working on leads and Tom said, ‘Let me look through my database and see who I have in Rushcutters Bay’. He then printed out a spreadsheet of people that he knew in that area on his personal database. I have had that from various other people in this office and I just don’t think that happens in a lot of other real estate agencies. There is a sense of ownership over ‘these are mine’ contacts. I think it’s very different here; there’s zero competition within our office, no one concealing things or competing against one another.”

everything, Ben is pretty old-school and likes to run with print.” Georgia uses Microsoft Outlook to manage the database and MailChimp for marketing campaigns. HomePass is another app that connects to a CRM and stores data collected from open homes, but mostly the team use iPads with names collected on the Notes section which are then transferred to an Excel spreadsheet. “Being on Ben’s team is full-on. It has its highs and lows, but mostly highs; I think you have to really enjoy who you’re working with. I feel like it’s more of a family than a team.”

GEORGIA LUNN What is it like to manage the team of one of Australia’s highest-performing agents? Georgia Lunn has been keeping the Ben Collier team running like a well-oiled machine for five years and the key is to keep it simple. “We’re very old-school. We don’t really do anything special. And it works for us so we just go with it.” Client services manager Georgia’s week is spent working on proposals for Ben, preparing an upcoming auction, marketing, liaising with clients, managing Ben’s diary and making sure the other five agents in the team have the tools they need to succeed. “Peter and Davide are on the phones all day every day. Ben’s on the phone as well, but Ben normally is on the phone to his current vendors and his thirty, sixty, ninety-day pipeline, so he’s nurturing people all the time. And so in terms of the marketing and

PETER PERRY Peter has been in Ben Collier’s team for three years and believes real estate has come full circle back to traditional methods, where it’s all about the experience for the client. “I think it’s now going back to where people want the experience. People want to speak to a person; I think those traditional methods are starting to come back into play. People are too afraid to go out and door-knock or pick up the phone. “Too many people hide behind emails and [...] social media and think they’re getting close to people. But they’re not. “We don’t use a lot of technology. Maybe that’s because of who we work for. I think that our whole team runs with the mentality of ‘keep it simple’.” Working in the competitive patch of Paddington, Peter works seven days a week and says it’s not hard to stay motivated

when surrounded by inspiring and supportive agents. “In the last couple of years I have developed friendships with certain high-performing agents in the industry. Every now and again, I sit down and have a coffee with them, or I know that I can give them a call and they’ll help me out.”

DAVIDE TALONE Davide started out in real estate three years ago, doing eight hours of phone calls a day generating leads, and from there has worked his way into Ben Collier’s highprofile team. Work ethic is what will distinguish young agents from veteran agents who have been working in areas for decades, Davide says. “Get out there in the marketplace, doorknock, make the calls, be seen at your open homes. That way when people meet you they have an understanding of, ‘Oh yeah, I’ve seen [or] spoken to that guy a few times.’ I think that the best way you can win is [by] sweat and time-honoured relationships.” It takes a certain kind of drive to work seven days a week non-stop for months on end. “On our team, we just keep it simple and work hard. “We walk into Mondays like they’re Saturday, Sunday, Wednesday, Friday. You’re always there and you know what’s expected. There’s no downtime or winding down. So it’s actually a good thing when your competitors have had a day off on Sunday and they come in Monday morning and take a bit to warm up. We’ve already been there, we’ve already called that client. “When people ask me, ‘You work seven days, that’s absolutely crazy’, to me it doesn’t feel like I’m working seven days because whenever we’re in a group we all get along with each other. At the end of the day, we all want the same thing, which is success.”

TOM WILKINSON Tom Wilkinson joined The Agency after being a small business owner and project manager in the construction industry. Working closely with agent Thomas Heath as support partner, Tom manages the content strategy for the team and spends the majority of his time reaching clients on

40 ELITE AGENT • OCT - NOV 2017

the database. The team do a weekly market wrap video and are active on Facebook and Instagram. “The video goes out once a week onto the Facebook page and we’ve got an Instagram page that’s run by a third party; we just have to provide them the information to post and they kind of edit it to suit the audience. “Recently I’ve done a bit of the doorknocking and I find I haven’t had a negative response. When I have knocked on doors I’ve always been quite welcomed; they are interested and want to know what’s going on in your area.” He believes change is imminent in the industry. “I think when the time will come we will have to adapt. We will have apps eventually where you can sell your property online. “As the younger age groups come through, they are already heavily relying on their phones and apps for their everyday use. So who’s to say they won’t want to sell their home through an app? “We might not see it in the next five years, but next 10 to 20 years I think we’ll see a big change.”

RICK WOODWARD Digital communication is all well and good, but nothing can take away “the element of hard work and just sweat”, says Rick Woodward, who joined The Agency last year. “Social media might be good for branding, but I don’t think it’s as effective as an hour of door-knocking would be, or an hour of phone calls. You should be prospecting for a relationship.” Rick is selective with the content he pushes on social media, finding “things like what to look for in a kitchen” or “how to create a better ensuite” work better than telling people how much you sold a house for. Younger agents don’t have an off switch, and that’s their competitive edge over more experienced agents. “When you’re contacting clients who are thinking of selling on Sundays, they know that there’s never downtime for us. We’re never thinking of anything other than their property

and how we can get a better result for them. “You just don’t switch off. I’ll go to bed at night thinking about who I need to call tomorrow.” It’s the little wins that keep Rick motivated and lead to bigger wins, “like even when a client saves your name in their phone. And when they answer it’s not, ‘Hello, who’s this?’. It’s, ‘Rick, what do you have to tell me?’”

ADRIAN GARCIA You’d be hard pressed to find a single minute in Adrian’s day that isn’t maximised for productivity. He uses multiple forms of contact to achieve his aim of reaching a minimum of 50 contacts a day. Adrian uses the Mojo app while driving that calls three different numbers at a time and connects to the one that answers. He can dial between 300-400 people a day. “I have definitely pulled business from sitting in traffic. I was calling someone once and happened to be driving through the area. Then five minutes later I turned up to their doorstep with a card and told them now they can put a face to the name. They were surprised but appreciated that level of service and attention.”

“We walk into Mondays like they’re Saturday, Sunday, Wednesday, Friday. You’re always there and you know what’s expected. There’s no downtime or winding down.” Part of being a young agent is building resilience to rejection. “It is tricky getting listings when you’re young. People will say ‘I like you but we are going to go with this other person’. It’s hard to beat the guy who has been in the area for 30 years. The only remedy to that is you need to have more opportunities and a bigger

pipeline. You have to move on.” You can count on Adrian to do things differently. In 2014, every one of his listings was found on Gumtree. “Gumtree is another way to find private sellers. With those calls you have to create impact immediately with energy on the phone. You’re not going to have that if you’re not driven and hungry.” The roles of agents will change because there is so much pressure from the digital space, Adrian says. “I think there’s a lot of people like Purple Bricks coming out that are offering things for free. Nothing happens for free. REA and Domain are pushing up their prices and that makes it harder to make higher commissions. To combat that, agents will need to offer greater service.”

SPENCER MITCHELL When was the last time you received a handwritten note? The simplest tool is often the most compelling. Starting at The Agency a few months ago, Spencer thought getting on to expired listings might open some doors for him. “I wrote a handwritten card to touch base with the vendors of a $3 million apartment in Port Melbourne that had been on market for 62 days with a different agency.” The family called him back a week later. “It came out in the listing presentation that Peter [Kakos, GM of The Agency Victoria] had sold their family home in Brighton East for a record price four years ago, so the vendor had trust in Pete. The family loved the fact I wrote a handwritten card.” Spencer works seven days without an assistant while juggling a business degree to achieve his goal of working in Melbourne’s prestige market. In the future, Spencer thinks agents will need to be “more chameleon”. “There’s older agents in [the] system, but the younger guys are willing to work until 11pm or 12am at night; we are willing to do all it takes. People do business with people they trust and like. It doesn’t matter what the brand is, it’s the person they want to do business with.”  AZAL KHAN

eliteagent.com.au 41

thought leaders

5 TRENDS THAT WILL IMPACT REAL ESTATE IN THE FUTURE TEN YEARS AGO venture capital specialist Chris Rolls was

among the first to outsource backend administrative tasks overseas. With his wealth of experience he takes a look at current trends in real estate that will impact the industry well into the future.

IT’S ALL ABOUT THE DATA

Imagine as a sales agent if you could scroll through your database of 2,000 contacts and pick the 100 people you knew were going to sell over the next six to eight months. Imagine if you could predict how many people would be bidding at your next auction and what price the property would sell for prior to listing it. Both of these situations are becoming a reality now, thanks to predictive analytics. These use a range of techniques, including data mining, statistics, machine learning and artificial intelligence, to make accurate predictions about future events based on large amounts of data. Real estate agencies around Australia have millions of data points and many more are available publicly.

42 ELITE AGENT • OCT - NOV 2017

Agents who use this data to their advantage will be able to outperform those who don’t. It’s already happening in the US; it’s only a matter of time until it takes hold in Australia.

SALES AND PROPERTY MANAGEMENT COMMISSIONS WILL DECLINE

According to Macquarie Bank’s latest Real Estate Benchmarking Report, sales and property management commissions are on the decline. A large part of this is because of new technologies that allow agencies to operate more efficiently. As they become more efficient, in order to win more business they reduce their price. Additionally, technologyenabled business models like Purple Bricks, and others that will soon be in Australia, will

further drive down commission rates across the industry. To combat this agencies will need to introduce new technology to drive efficiencies and start generating revenue from places other than traditional commissions.

PERSONAL RELATIONSHIPS WILL NOT BE NECESSARY TO SELL OR MANAGE PROPERTY

Before you crucify me for saying that relationships don’t count, let’s get the facts straight. People already rely on computers to diagnose and recommend treatments for cancer. Australians have more friends on Facebook than they do in the real world. Just look at the way children use products like Amazon Alexa and Google Home. Alexa (not yet available in Australia) and Google Home know the answer to everything. When those kids want to buy or sell a house, who are they going to ask to find out which agent they should use? Like it or not, they won’t be calling three local agents to do the comparison themselves when Google has already done it for them. The agent of the future needs to stop asking, ‘How do I meet more people?’ and start asking, ‘How do I get Google to recommend me?’

UNFORESEEN NEW ENTRANTS WILL CHALLENGE THE TRADITIONAL AGENCY MODEL IN HIGHLY UNLIKELY WAYS There’s a property management company in the US that, with some advanced software and a team of 30 people, manages a little over 200,000 properties. That’s seven times larger than the biggest property management company in Australia.

but those that adapt and change have an enormous opportunity to expand their market share. A key trend will be for existing agencies to collaborate to reduce costs and improve efficiencies. Agency offices will downsize and move from prime retail locations to cheaper office space, and small businesses will be consolidated into larger organisations who have better economies of scale.

The agent of the future needs to stop asking, ‘How do I meet more people?’ and start asking, ‘How do I get Google to recommend me?’ Amazon has invited real estate agents to sell their services on their website. Just last month Facebook announced that globally they were getting into the real estate advertising market. Opendoor, which is worth more than $1billion, facilitated the sale of 400 properties last month in the US. Not one of those sales required a traditional real estate agent, and no commission changed hands. The traditional model of agency practice is going to come under enormous pressure from innovative new business models. Many incumbents will cease to exist,

THE MACHINES ARE COMING

The traditional open home for an hour on a Saturday morning will be gone, as will the personal assistant, the office administrator and the trust accountant. All will be replaced with machines. Sounds ridiculous? It’s already happening in other industries. The artificially intelligent lawyer ‘Ross’ has already been hired by law firms to provide legal advice on contracts. There are places in the US where you can visit an open home 24 hours a day,

seven days a week, gaining access with an app that unlocks a smart lock, which then triggers all the lights to turn on and cameras to record your every move. Ten years ago at Rental Express when I started sending backend administrative tasks to be done with cheaper labour in the Philippines, people thought I was mad or even ‘un-Australian’. Now it’s one of the biggest trends in the real estate industry. The next step is to completely automate these processes so that they are done by computers without any human interaction at all. The need to change is not new. The theme of Charles Darwin’s The Origin of Species is, “It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change.” Never has this been more relevant in the business world than right now. 

Chris Rolls is the Managing Director of PieLAB Venture Partners, who manage Australia’s first real estate specific venture capital fund. Prior to PieLAB Chris built and sold Rental Express, one of the largest property management businesses in Australia.

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feature interview

Century 21 FUTURE BY DESIGN

TODAY’S CONSUMERS ARE increasingly connected and

tech savvy, so real estate franchises must lift to meet new service demands by using technology to its full potential. Century 21 are leaders in innovative thinking and today are considering how a new era of innovation will help their network to thrive in a mobile future. Samantha McLean talks to CEO Charles Tarbey and CTO Steve Glachan to find out more.

harles Tarbey has always been forward thinking when it comes to technology, which is the reason we are here today. But he is also crystal-clear with me that the business of real estate is still about the people. “You have to remember that the majority of the community is not even thinking about real estate. Where most agents focus on the small percentage of the overall population that are looking to buy and sell now, Century 21 as an organisation has always, and will continue, to focus on those that are currently not looking at buying and selling through sponsorships and brand

INNOVATING FROM THE TOP DOWN At a franchise level, Glachan says if consumers are all about mobile (which we know they are) there is a need to respond by ensuring that Century 21 is present, and as a result, the eSales platform is being redesigned to be responsive and to ensure that salespeople have the tools they need at their fingertips in the field. “We’rebusy redesigning the Century 21 AustraliaandNew Zealandcorporateand officewebsites.Thismeansf ullyf unctional, informativesitesa ndc ontent designedfor consumers,nom atterwhatdevicet heya re using–mobile,t abletord esktop – w hich will be a huge improvement. We are laser

“You have to remember that the majority of the community is not even thinking about real estate.” campaigns to keep the name top of mind.” But with that, Tarbey also acknowledges that technology should be able to be used to alert agents to the times when they need to be having the right conversations, not just with customers but also with co-workers, and this is where both he and Glachan are redesigning the future technology platforms for the franchise.

4 4 ELITE AGENT • OCT - NOV 2017

focused on consumer experience and engaging with talented digital partners like our web design team at PUSH Creative, to provide increased support and guidance to our network,” says Glachan. In a bold move, opportunities will also exist for franchiseest or uns eparateb ut integratedofficewebsites,salespersonspecificsitesandpromotionalmicrosites–

allf eaturingconsistentdesigna ndc ontent toensurea unifieddigitalbrandp resence. “This is something we are really excited about,” says Glachan. “We hope to have this capability released by the end of the year.” The next generation eSales redesign is also focused on more efficient workflows and better user experience. Glachan says the less time a salesperson has to spend in eSales the more they can achieve. “We’ve made it easy and quick to enter listing and contact information via mobile and tablet. Enquiry and interest can be easily captured from any device at open house inspections, with follow up SMS and emails able to be quickly customised and sent out immediately. We believe this will get us closer to real-time communication and presence if we can capture information quickly and act on it.”

WORK BECOMES SOCIAL Century 21 is the first franchise to have adopted Workplace by Facebook both here and in the US. “The increasing need to deliver real-time training and property information has been enhanced with this platform. When new training sessions become available our agents are immediately alerted and can participate live or with recorded sessions,” says Tarbey. The platform is just like Facebook and works just like Facebook, so everyone already knows how to use it. “It also allows agents to communicate more freely within a Century 21 family platform rather than public, and share more easily with the work colleagues and friends who are working for them – providing great ideas between team members which are not limited by geographical boundaries,” says Glachan.

LISTINGS BECOME SOCIAL Century 21 are the CoreLogic/Onthehouse. com.au major network launch partner for their new Facebook ‘Smartads’ product.

While Facebook ad targeting, design and placement can be quite confusing for many agents, Smartads are an automated way to engage Facebook audiences simply and effectively. Phase one of the rollout is a ‘Property Listings’ and ‘Just Sold’ module and will be followed by data-driven suburb updates, all of which will be able to be automated in the future. Following this will be the development of targeted user-generated content from Facebook users which will appear on both the Century 21 website and also at Onthehouse.com.au. Corelogic’s Head of Innovation David Maire also says he is excited to be working again with Century 21 on the product’s launch. “Century 21 has a solid data-driven technology vision and were our launch partner for our original RPConnect social platform in 2010.” In terms of other social media reach and keeping the brand top of mind with consumers, the team are also bringing on board a dedicated social media side. “This team will be responsible for creating, building and assisting in the maintenance of all social media activities for every office across Australasia,” says Tarbey.

Charles Tarbey

Steve Glachan

There is only one true factor in the success of an agent in the future, and that remains the ability to work a database well. THE WAY FORWARD There is only one true factor in the success of an agent in the future, says Tarbey, and that remains the ability to work a database well; not only to work with current buyers and sellers, but also to nurture others. But despite this being a ‘basic’, Tarbey says that agents need to get smarter in

the way they use the database to help customers meet their own goals. “We should be able to automatically identify, say, a client’s previous purchase price vs current value of the property and allow our agents to identify for those people opportunities around greater equity or realisation of assets for other purposes. This has a far greater meaning in the scheme of things than a simple Facebook post or blog, albeit these are all part of the puzzle,” says Tarbey. And lastly, there is a clear message to pick up the phone. “It is critically important that the industry does not fall into a pattern of complacent behaviour,” says Tarbey. “Our job is to list and sell real estate, and while technology helps us deliver our message, only the best agents are able to take any activity from online to offline and continue the conversation in person. “Unfortunately, technology has created an environment where agents can avoid talking to people, which is not ideal. Some agents are looking for the silver bullet whilst the smarter agents are not hitting the reply button on their emails, and telephoning people back instead.”  SAMANTHA MCLEAN

eliteagent.com.au 45

technology

Automation Nation CHRISTIAN LOUS LANGE FAMOUSLY said that

technology was a useful servant but a dangerous master, yet with the sheer volume and pace of new tech implementation it has been difficult to get that balance right. Sarah Bell caught up with Ian Campbell (and Rita) from Aire Software to talk about what is possible in automated technology for prospecting, processes, property management and more.

here is no doubt that we are on the crest of another wave of technological breakthroughs. The next generation of tech implementations are not the clunky packages that forced us to adapt to rules. The new era allows us to literally write the rules while intelligent tech adapts to the ways we want to work and live. When we think about artificial intelligence (AI) and the rise of bots, it can be difficult to frame exactly how this stuff of science fiction could be relevant to a local real estate business. If we humanise it, however, and start to think of AI technology as an extra person in our business, then we start to gain a concept of what a digital assistant might be. A digital assistant means that technology is no longer simply a tool to use at work, but that tech has become capable of achieving its own work outcomes. “Automation gives businesses a huge opportunity to do a lot more with less,” says Ian. “If I was a real estate agent, I don’t think I would be worried about automation replacing what I did. There has been

46 ELITE AGENT • OCT - NOV 2017

research to support that things like negotiation, deal-making and interpretation of legislation are all higher-order human functions that have fundamental human traits at their core. Agents offer a huge value in the sale; humans want comfort from other humans, generally speaking, but there are some interesting business models starting to challenge that. The idea of digital assistants isn’t to challenge the relevance of the traditional agents – it is to do the heavy lifting at the back end so that humans can be freed to be more involved where they are most relevant.”

ENTER RITA Ian has created the first digital assistant for real estate agents in the form of Rita. Rita is Aire’s first digital employee and her name stands for ‘Real Estate Intelligent Transaction Assistant’. For a fraction of the cost of an additional employee – and none of the headaches, breaks or errors – Rita can automate almost anything, and she learns and uses your current systems. “We do know that this is the first implementation of a digital employee in Australia. Rita won’t do the same thing

in any two businesses, because every business is unique. It is a fully bespoke implementation and she has a similar individualised onboarding process to a team and to those systems as though she were a new employee.” Rita is already working at Watt Realty in Brisbane. Her job at Watt Realty is to manage buyer enquiry, to respond immediately with relevant information, to complete missing information in their CRM, to update customer records and to create follow-up tasks for agents based on inbound enquiry. Justin Watt from Watt Realty said: “We estimate that Rita saves us around 780 hours of administrative work in a year just from automating enquiry, and that represents a cost saving to the business of over $30,000. Possibly the best part of bringing Rita into the business is the service levels that we have been able to create. “When buyers are complaining that other agents don’t get back to them, we can boast the fastest response times and we can guarantee that we never miss an enquiry. Rita sends them extra information which they may find helpful and it is all completely automated. The agent has time to call and because Rita does everything on behalf of the agent, when the agent does call they are doing so from a base where they have already given a customer a great experience and started to build a relationship. In that sense, Rita is a pretty powerful listing tool as well. “Our first version of a digital assistant had similar functionality but it looked like a service desk and ran kind of a ticketing system. We soon realised that people didn’t want to log into another piece of software because their day is already too busy. Most of the software that we leverage exists in the software that a customer is using – for us it is

about automating integration using APIs and keeping a complex web of automation really simple for our users.” When it comes to automation, the capabilities of a digital assistant are very broad and the goal is always to free up the time of an agent to focus on higher-order, complex and dollar-productive activities. While Rita is working on buyer and tenant enquiry management at Watt Realty, from a first response perspective she could also provide an initial reply to appraisal leads and landlord leads and respond to general enquiries. In database management, Rita could be employed to de-duplicate or segment data, to build and augment data, and to report from the CRM in real time. Rita could take over some of the workload with social media automation, including synchronising data with a Facebook audience or Facebook’s new property catalogue product. The application to property management is equally exciting, with Rita able to manage leasing enquiry, maintenance, arrears and lease renewals – and she is just getting started. “I think it is critical for the industry to spend more time on its customer service – to be face to face,” said Ian. “Agents spend a lot of time doing other ‘stuff’ where there is no value-add to the end consumer. There is an

ENQUIRY MANAGEMENT

DATABASE MANAGEMENT

SOCIAL MEDIA AUTOMATION

Buyer enquiries Appraisal leads Landlord leads General enquiries

De-duplicating Cleansing Segmentation Automation Reporting

Facebook custom Audience sync Facebook property Catalogue sync Content posting

PROPERTY MARKETING AUTOMATION

PROSPECTING AUTOMATION

PROPERTY MANAGEMENT AUTOMATION

Just listed Just sold Price changes Inspection reminders Auction reminders

Contact prioritisation Daily call list preparation Lost opportunity alerts Other agents stock

opportunity for the good guys to get even better and to create a massive gap between the agents who invest in technology to help them to that – and the agents that don’t.” Artificial Intelligence creates a new world of possibilities for real estate and, as the usecase emerges for different applications of the technology, we will see providers, agents and consumers adopt and normalise AI.

Pimp My

Shopfront

Maintenance Arrears Lease renewals Leasing enquiries

You can meet Rita at getaire.com.au. Ian Campbell will be speaking at ‘How to lead a winning team in 2018’ on the topic of ‘How to hire and manage your first digital employee.’ For more information and to book tickets visit eliteagent.com.au/ win2018.  SARAH BELL

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eliteagent.com.au 47

feature interview

THE INNOVATORS AS A RESULT OF THE explosion in digital lead

generation, the traditionally separate departments of marketing, service and technology now need to work together. When leads are ‘generated’ they should be nurtured, according to the individual’s needs, both online and in person. As a group, Ray White are continually on the cutting edge of innovation through investing in people and development. Two of their key leaders, Jason Alford and Kelly Tatlow explain how they provide value to the network by promoting their agents in the best light, while putting them face to face with more people.

S CEO OF Concierge, a

Ray White and Loan Market service providing before, during and after sales care for clients across Australia and New Zealand, Kelly Tatlow manages a team of about 75 professional communicators. Jason Alford is the National Technology Manager in a team of 60 IT professionals. At a franchisor level, both Kelly and Jason strive to achieve the ambitious goal of ensuring every single customer who contacts a Ray White agent around the country has not just a good experience but an ‘unbelievable’ experience. In this country right now that’s around 1.6 million people per year.

DELIVER, SURPRISE, DELIGHT While there is a vast array of technology tools to choose from today, Jason says the simplest way to make technology decisions is to imagine the customer testimonial that you want to receive and then reverse-engineer the technology and the service needed to achieve it. “What I want to have any client say to me is I have communicated well, kept them up

48 ELITE AGENT • OCT - NOV 2017

to date, did what I said I was going to, was an expert in my suburb and sold their house at the highest price. To achieve that testimonial you have to deliver exceptional service and exceed expectations in each of those areas.” What customers are demanding right now, says Jason, is speed of response. Digital enquiry is outstripping organic inquiry or natural sales by a factor of 10, so the response needs to be immediate. “We are continuing to improve transparency and communication with real-time responses embedded in MyDesktop, so that no inquiry goes unserviced and that person is surprised and delighted right at the start. “Then, as you get into the meat of the relationship and [the agent] is appraising the property, many of those tools [which] are now in mobile apps, a CMA or pre-listing presentation can be sent straight out. “Then when it gets to the contract management bit, making it a seamless process through digital signature software that is connected into our secure database. “We are completely changing the pace at which a contract can be signed, which we measure as ‘velocity of signature’. This is now, on average, under two hours. “So, if you can deliver service like that,

you’re more likely to receive the testimonial we just spoke about. Exceeding expectations to such an extent that these people will then recommend another 20 clients (likely to be friends and family) – that’s the goal.”

BUILDING ROCK-SOLID RELATIONSHIPS Jason is adamant that digital tools are there to enhance an agent’s ability to build relationships with more people than is possible face to face, which he estimates to be around four to five hundred. To nurture these early relationships online, the group rolled out a series of ‘digital life cycles’ using ActivePipe, which has had a significant uptake from the network and is producing stellar results. “ActivePipe wraps around MyDesktop and is deeply integrated into our One System. And when a contact is added (via an open, a portal or a doorknock), ActivePipe goes to work. It immediately sends that new contact a welcome email and offers the client the potential to profile themselves via a communication saying, ‘Hey, I know I just met you. Just wanted to say we are committed to excellent service. Can we find out a bit more about you?’ And we effectively profile them and ask them a few questions about where they live, and their current property interests.” Technology also enables critical parts of the after-sales program, which is embedded into the Ray White DNA and is by all standards world-class. “It’s not just a set of keys and a basket of fruit any more. For example, we send out a gift certificate after three months to say ‘Hey, if you’ve been in the household a little while and you may have something that needs fixing or some gardening, we’ll give you a $150 voucher.’ Not to renovate the place, but just to fix up one or two things and to show that we care. “And if you’ve been there six months in a rising market your home may have appreciated. That’s something all homeowners want to know,” says Jason.

THE ABILITY TO SCALE The digital aspect of the client relationship is also tightly woven into Ray White and Loan Market’s Concierge, where additional capacity for personal service can be created by Kelly’s professional team during any stage of the client lifecycle. Says Kelly, “Digitally, our group is generating more and more leads, along with more and more opportunities. Unless the agent can respond quickly and develop a relationship with them, the opportunities are wasted.” Kelly says Concierge started out as a service

Jason Alford

Digital enquiry is outstripping organic inquiry or natural sales by a factor of 10, so the response needs to be immediate. to clean up the data in different databases and systems. “We would speak to people, and we offered market reviews, kept in touch, completed the data picture where we could. “Once [our network offices] had their databases reasonably clean, they needed resources to ensure that agents could keep in contact regularly and deliver services in a wide range of areas that are not always expected of a real estate group. “Last month, we made about 67,000 calls to people for our agents all over Australia and New Zealand.” With the MyDesktop system tightly integrated into the call centre, if the agent doesn’t get a chance to follow up their open homes (for example), Kelly’s professional team can step in and assist.

Kelly Tatlow

“We’re there behind the scenes, so if our agents don’t get a chance to follow up their open homes, we can do it; we log straight into MyDesktop, we fill out the vendor reporting. Where they’ve got an open property that they’ve listed, we can call around the suburb if they don’t have a chance. Neighbours love hearing about what’s happening with the property in their area and they love getting a special invitation to view the property.” Most of the Concierge staff (mostly students at local universities) work three or four short shifts per week so they remain energised. Kelly says, “It’s a wonderful professional role where they learn amazing communication skills. Most of them come out of Concierge saying they have some great skills and learnings to take with them into their new careers.” An area of even greater opportunity Kelly has found is keeping good contact with past purchasers to show that they continue to be important clients. “Our agents really understand the opportunity cost of not keeping in contact as we work with our technology team looking at data – for example, past purchasers who have resold – and compare that to how many re-sales we’ve completed. And then we can

multiply that out by the average commission and work out the dollar value they may have missed out on. “Really, we’re like a specialised PA, but we also offer the thinking and that’s my big thing. We’re not just people making calls; we work with our principals to find out what is the highest value for them and where is the greatest opportunity. Then we come up with a plan that is consistent with everything else we do.”

STRIVING FOR CONTINUOUS IMPROVEMENT Both Jason and Kelly say they are lucky to have the opportunities to innovate across the Ray White Group, with the business growing year on year and the family continuing to invest in people and technology to stay ahead of the curve. “Once you’ve got enough good people and you’ve done your thinking, and you believe you’ve got the right strategy, it’s about consistently reviewing and refining. And because technology evolves so quickly, tweaking, discussing and challenging that strategy is probably one of the most important things we continue to do.”  SAMANTHA MCLEAN

eliteagent.com.au 49

marketing

RETHINKING VIDEO IN THE SOCIAL MEDIA AGE ONCE A POINT of difference

for savvy agents, it is now normal to see social media feeds packed with property marketing videos. However, many agencies produce videos to the same prescription that pre-dates the introduction of the first iPhone in 2007. Today, as Daniel Dulhunty explains, the rules have changed. 50 ELITE AGENT • OCT - NOV 2017

F YOU’RE NOT ALREADY convinced

that social video is where you need to be, consider this: • Eight in 10 Australians are now on social media • 81 per cent of them prefer to access social media on a mobile device • Video accounts for more than half of all mobile traffic See a pattern here? With that in mind, here are five tips for maximising the impact of your social content.

FORMAT

Social media and smartphone domination have changed the game completely. Online video was originally engineered for desktop computer screens, taking many cues from TV production.

According to the 2017 Sensis Social Media Report, 57 per cent of people use social media to share photos and videos. They hold the content in the palm of their hand with sharing and connecting at their fingertips. Size matters, so ensure if you have text or graphical overlays to keep them at a readable level. The best advice I can give is to stop creating landscape (16:9) videos. Not only do they look awkward on gridded-display platforms like Instagram, but they’re far less effective. So what’s the answer? It’s hip to be square. Square ratio (1:1) videos give you an additional 78 per cent of screen real estate on a person’s mobile news feed – that’s a huge advantage over your competitors. Picture how your video may be created

once and cut a number of ways. For example, you may have a 60-second Instagram clip, a two-minute Facebook post and a six-minute YouTube video from the one production. Captions are huge, too, given that when people scroll through their newsfeed videos will start autoplaying. Ensure you have dynamic text overlaid on the video to give viewers an idea of what the video is about before they need to turn up the volume.

SELLING VS STORYTELLING

It may go against the instinct of most agents, but your opportunity with video on social media isn’t to create the best advertisement for your listing; it’s to tell the best story you can about the property. As Darryl Kerrigan famously said in the Aussie classic The Castle, “It’s not a house, it’s a home”. Tell the story of the home, its history, what you love about it and why it’s special. Describe what it would be like to live there so others can share this vision. When seeking assistance, look for agencies that have journalistic talent and experience to help create this experience.

TIMING MATTERS

Understand who you are selling to and target them when they choose to be engaged with social media. Sensis data tells us that 18-29 year olds are most likely to access social media first thing in the morning (79 per cent), last thing at night (65 per cent), at work (46 per cent) and, ahem, even on the loo (46 per cent).

More than half of those surveyed in the Sensis report check social media more than five times a day and own three onlineconnected devices. When planning a schedule, video content seems to perform well in the evenings where people tend to have more time to relax and consume, versus the digital snacking that happens throughout the day. Understand how the different platforms work, too. Facebook’s algorithm doesn’t give you much control over when your audience might see your content, whereas Instagram and Twitter are somewhat more predictable – but keep in mind they are constantly shifting the goalposts for organic posts. Use tools like Buffer (buffer. com) to understand these trends and schedule future posts to hit the mark.

THE NEED FOR SPEED – AND QUALITY

I’m sometimes asked how many listing videos an agency should create. My answer is that every property should be your goal. That doesn’t mean you need to get drone footage of every property; it means there are different types of video

Using video on social media isn’t to create the best advertisement for your listing; it’s to tell the best story you can about the property.

and there’s one just right for every listing. If you have an exclusive listing that warrants a bigger marketing budget, send in the drones and create a cinematic masterpiece. Some properties can be simple slideshows and most will land somewhere in the middle. A lot here depends on your market and budget, but understand that it’s better to have exposure to as many listings as possible. If you’re uncomfortable in front of the camera, consider quality audio over the top of pictures as another way you can produce great video. Work out whether you’re best placed to do it yourself or engage a supplier. There are amazing tools out there which enable you to be your own media organisation, as long as it doesn’t take you away from the core business of selling. Sometimes it’s a mix of approaches that will work best.

LIVESTREAMING

These days you have a TV studio in your pocket, so make use of it. The Sensis report shows 25 per cent of us use Facebook Live to watch live or recently recorded videos, but only five per cent have published their own live video. I expect to see this number rise dramatically on Facebook and other social streaming platforms in the future. This is an opportunity for you with auctions, staff Q&As, suburb profiles and more. The beauty of livestreaming is that it can often come off as personal and authentic. If you’re out and about, don’t feel the need to overproduce the production value – keep it real. If you have the capability, you can set up a makeshift studio using great tools like the Mevo 4k Livestream camera (getmevo.com) and direct your own production from the palm of your hand. To make the experience better for those tuning in, invest in a good external microphone, basic lighting and a tripod to keep things steady. If you want to take things to a more professional level, engage an agency near you who can assist. We have a permanent livestream studio set up at our agency for clients to stream and record content. 

Daniel Dulhunty is Director of Connected Media Solutions, which specialises in real estate content solutions. With almost 20 years’ experience at Australia and New Zealand’s leading media organisations, Daniel runs the agency with his wife Kylie Dulhunty, a former real estate editor and journalist at NewsCorp and Fairfax Media. For more information, visit connectedmedia.com.au.

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ceo viewpoint

“Those who have been order-takers in a strong market and don’t significantly improve the customer’s outcome will no longer exist.”

52 ELITE AGENT • OCT - NOV 2017

TALKING TECHNOLOGY WITH JOHN MCGRATH TECHNOLOGY, TOOLS, INTERCEPTORS, and the role of

the real estate agent in the future. With many changes continuing in and around the industry we asked McGrath founder John McGrath to give us his thoughts on what he believes the near future will bring. What are the tech tools agents will need in the future? For prospecting and listing, a solid CRM database system which categorises customers to allow you to send only relevant messaging to each client will be important. Curation of messaging will become more and more significant as people get bombarded with information. The next big thing will be predictive algorithms which allow agents to identify potential sellers and proactively service their needs. In terms of property marketing, large portals have changed the way property is marketed forever, and this will continue to grow and become more tailored to each buyer. Social media marketing is rapidly gaining momentum and I see it playing a far greater role in the marketing mix from here. Targeted marketing, again using masses of different data to pinpoint your best buyers, will be the next wave in property marketing. For productivity, there are many tools now available and most do an equally good job. As our industry is very mobile and informationintensive, the key technology platforms that allow us to operate from anywhere in the field and provide customers whatever they need in real time will be invaluable. Video is also a key tool in a people-centric industry, so the platforms that allow agents to have real-time face-to-face meetings when in the field will become more important. People still like to see who they’re dealing with.

What about the future of interceptors such as OpenAgent and LocalAgentFinder? What sort of role will they play in the future? I’ve never been a fan of the interceptor groups; I personally feel their model is flawed. In a business world where margins are under pressure, for these companies to seek 10 per cent or 20 per cent referral fees for zero value-add seems totally unsustainable to me. In essence they appear to advertise a service to introduce potential sellers to agents and provide data to assist in their decision-making. I suspect this type of data is easily accessed elsewhere and therefore the model won’t endure; I have seen similar models over the years and none exist today. It’s easy for most sellers to get ample data and insights to select a good agent, so I don’t see a future for these businesses. Is the development of proprietary technology still a competitive advantage for franchisors and large groups? We have always had our own proprietary platform internally, which we believe will give us an edge going forward. The costs are high; however, we believe that in the future it will give us the flexibility to do things the way we want rather than in an industrywide manner. We are about to release our newest version and it will have a number of functionalities that will put our team at an advantage, so we believe the effort and investment will be worth it.

There’s lots of talk about the ‘one-stopshop’ of real estate. What other services or adjacent opportunities do you think business owners should be considering now or in the future? I think agents will inevitably become a conduit for many services that are needed by buyers, sellers, tenants and landlords moving forward. If you build trust with a customer, then they will be delighted to have your input and assistance in selecting the best service providers. Home loans are an essential part of every real estate transaction and therefore an obvious service to provide. I don’t see many agents becoming the actual provider of all the possible services, but they should become the curator and conduit to the best local services. Where do you see the role of a real estate agent in 2017 and beyond? I see technology as being more of an enabler than a disruptor. Let’s face it, Purplebricks is not a new idea. Approximately five per cent of Australians have been selling their own home without an agent for many years. Purplebricks will be a good option for those people who wish to sell without an agent. But history tells us that, when it comes to the largest financial transaction in your life, most people would rather have an expert handle it for them. Platforms like realestate.com.au have allowed us to reach more people faster and for less money than ever before. I think social media in the main will be the same: a great channel for us to connect with potential customers as well as find new buyers. Agents who have built strong reputations for value-adding and integrity will continue to build their business. Those who have been order-takers in a strong market and don’t significantly improve the customer’s outcome will no longer exist. 

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leadership Since the late 1990s, emotional intelligence has increasingly been identified as one of the elusive factors connecting the world’s most inspiring leaders. It is now seen as one of the foundations of powerful leadership in the boardroom too. And, without it, your attempts at motivating your team to higher performance levels or to embrace change in your organisation may be falling on deaf ears. So how exactly do you improve team motivation by raising your level of emotional intelligence?

1 5 WAYS TO INSPIRE YOUR TEAM THROUGH EMOTIONAL INTELLIGENCE REAL ESTATE EXECUTIVES have probably read volumes

about leadership and motivation, but the fact remains: worldwide, employees are less and less engaged in the workplace. EQ expert Ush Dhanak shows how inspiring them through emotional intelligence can motivate your team to new levels of success.

HILE WE ALL want

the professionals we work with to be self-motivated, a helping hand from inspiring leaders never hurts. After all, without motivating his hordes, Genghis Khan may have remained the chief of a small Mongol tribe; and without inspiring a band of entrepreneurs to help him grow his empire, Sir Richard Branson might still be working in a record shop. Jim Clifton recently wrote on the Gallup website: “While the world’s workplace is going through extraordinary change, the practice of management has been frozen

54 ELITE AGENT • OCT - NOV 2017

in time for more than 30 years. According to Gallup’s World Poll, many people in the world hate their job and especially their boss. My own conclusion is that this is why global GDP per capita, or productivity, has been in general decline for decades.” The poll he is referring to found that only 15 per cent of the world’s one billion fulltime workers are engaged at work. Something new is clearly needed. Is emotional intelligence, or ‘EQ’ as it’s sometimes termed, the missing link? Although IQ was once considered absolutely key for success, the fact that many successful entrepreneurs and leaders didn’t boast notably high IQs caused a rethink.

YOUR MOTIVATION IS INFECTIOUS

Emotionally intelligent leaders are naturally self-motivated. They are self-aware, confident of their abilities, resilient and committed to overcoming obstacles to get where they need to be. They have a positive, can-do attitude and high energy levels. Rather than being motivated by money and titles, they thrive on the success of their teams and are comfortable leading the way even through tough times. This is an infectious quality that rubs off on team members. Think of the leaders that you respect the most in your life and it’s likely you were motivated just by their strong guidance and positivity.

YOU’RE ABLE TO BUILD STRONGER RELATIONSHIPS

We’ve all worked in places where there are hostile, conflict-based relationships between individuals and leadership, and we know how demotivating this can be. A toxic atmosphere can make just coming to work a chore. Emotionally intelligent leaders understand other people, are comfortable socially and love to build close relationships with those around them. They listen to and empathise with others and find them interesting, enjoy their company and naturally build rapport, trust and respect. Team members are more likely to ‘bond’ with leaders with this outlook, and with this bond comes the motivation to succeed and to achieve high performance levels. It’s very unlikely that employees will work so hard for a leader they feel disconnected from, and they definitely won’t go the extra yard for leaders who do not respect them.

YOU PROVIDE MORE AUTONOMY

Because emotionally intelligent leaders build trust with their team members, they are comfortable with delegating tasks and leaving them to accomplish them.

They are self-aware and understand their own strengths and weaknesses, so they also better recognise qualities in others. They will not over-expect or undervalue. They don’t live in fear of mistakes, constantly micromanaging and looking over shoulders or holding employees’ hands. Instead, they accept mistakes

Unless your organisation is providing a career path for your team members, watch out for a talent drain. without flying off the handle and see them as learning experiences. This is motivational because it appeals to an employee’s need for autonomy and to self-govern. They feel trusted, competent and of value to the organisation.

YOU’RE INCLUSIVE AND SEEK FEEDBACK

Emotionally intelligent leaders involve their team in the big stories and make sure that they feel included. They know the importance of the

organisation’s vision and for employees to feel a part of this. They don’t just expect them to perform their tasks and go home; instead, they want them to understand how their role affects the whole organisation and will take the time to explain it. This appeals to an employee’s natural need to feel safe, appreciated and satisfied in their work. Such leaders also accept input and feedback from employees. Emotionally intelligent people are self-aware enough to ask the big questions without being fearful of the answers. They are comfortable in their own skin and will not react impetuously to negative sentiments from employees.

YOU HELP DEVELOP CAREER PATHS

Despite popular belief, relatively few people leave their jobs because of money. One of the key reasons people quit is, in fact, a lack of future opportunities. So, unless your organisation is providing a career path for your team members, watch out for a talent drain. With a revolving door of employees arriving and rapidly leaving, you end up with demotivated staff. The ‘Who’s next out of the door?’

mindset can take hold and start to poison the whole workplace. It’s a vicious cycle that emotional intelligence can help break. Leaders with EQ invest time and effort in their team members to help establish future goals. They become a coach and mentor, helping them with opportunities to achieve what they are looking for within the organisation. This is highly motivational for employees. The five characteristics above that boost employee motivation are all active on the deeper ‘human level’. They are personal characteristics that are just as important outside of the workplace as in it. Until we start seeing the workplace as an extension of our personal lives – and stop expecting people to change into highperforming machines as soon as they clock on for the day – we will not see workplace motivation levels improve. That’s why emotional intelligence has an important role to play for leadership now and in the future. 

Ush Dhanak is an Australian Emotional Intelligence and HR Expert, and is the founder of collaboratehr.com.au.

MUSCLE UP AND RAISE THE BAR IN REAL ESTATE [ insights into real estate businesses beyond the numbers ]

REAL INDUSTRY KNOW HOW There’s a good a chance our real estate accountants have done it before so lean on us to help you reach your potential.

STARTUP, GROWTH OR SUCCESSION We can help at all stages of the business lifecycle. Love helping out individuals with their tax returns and personal planning too.

YOU DON’T KNOW WHAT YOU DON’T KNOW We are specialists in Real Estate Industry. We are specialists in accounting, tax, superannuation, bookkeeping, business, etc. Lets collaborate for a better outcome that allows you to focus on what you are good at.

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eliteagent.com.au 55

The Home Straight Mark McLeod

Consistently Inconsistent Real estate remains a fascinating and mysterious industry even though it’s still the only one in the world that actually knows where its customers live. But our knowledge is often wasted through our inconsistent response to potential clients, as Mark McLeod explains.

like to compare real estate to golf, as the ball itself remains motionless on impact. You would think that it would make it easier, but no. As technology comes more into play, sometimes getting back to the raw essence of how this industry operates in its purest and simplest form can help an agent perform. The one thing that I do know is that inconsistency is the consistency. If you break down every step of the real estate process and there is an acknowledgment around the fact that we are going to be inconsistent, then we may approach the critical tasks of what we do with a far different lens. Market research shows there is a lack of consistency with the way that we respond to digital leads. A survey we conducted right across the industry a couple of years ago showed that just over half of people who come to open inspections are never contacted again afterwards. I’ve shared these results with you in the past. Similarly, we know that when someone sells a home they often never hear from the agent who sold it ever again. The reasons why agents would not understand the value of these functions are: 1. They don’t fully understand the importance of these functions inside the real estate business. 2. They are incapable of

56 ELITE AGENT • OCT - NOV 2017

structuring their business in a way to deal with them. 3. They don’t believe that these tasks are important, or they are simply stupid. If you wrote down your 10 most important tasks and looked at them through the lens of ‘I am going to be inconsistent with these’, what would you do differently today? Would you source technology to assist? Would you outsource tasks to teams? Or even virtual assistants? If you looked at it through a different lens, how differently would you shape your business today? I am often asked what is the key to success in our business and I always respond with ‘consistency’. At the latest Inman technology conference in San Francisco, I saw a myriad of new platforms, disrupters and people who are building tools to enhance the real estate process. Nearly all the new tools are directed at taking advantage of inconsistencies in our industry. The majority of these inconsistencies revolved around how we respond to digital inquiry. Let’s look at a typical scenario: a potential vendor searches on a portal or website and makes a passive digital enquiry. They might be put on one of your EDMs which leaves a trail of analytics; perhaps they enquire of you specifically for more information on one of your listings, potentially turn up for an OFI, followed by

Just over half the people who come to open inspections are never contacted again. a request for an appraisal and then a listing presentation. The new entrants to our industry look at these steps with different eyes. You may believe the most important part of that process is the appraisal and listing presentation. But our new opposition will weigh the digital footprint and create an understanding of the customer using technology to highlight that person as a potential customer long before our traditional methods. The fact is our customer is revealing themselves earlier. I have said it many times before: customers reveal themselves digitally long before they reveal themselves physically. Technology isn’t about a mobile phone or an app or a tool to sign

someone in at an OFI. It’s the way we enhance our capabilities to identify customers earlier in the process, which enables us to provide a greater deal of service for a longer period of time. This all ensures we build a deeper relationship which will create the ease of transaction further down the track. Many offices have been built on the fact that everything is consistent with these people, but ultimately we have created an industry where inconsistency is the consistency. 

Mark McLeod is the Ray White Group’s Chief Executive of Growth. He works alongside both agents and businesses across Australia, helping them reach their ultimate potential to achieve success.

Transform

2017 Masters Edition Taking the original Transform formula that is intense learning and accountability over 12 weeks, this round of Transform we’ve set the bar even higher. This time it’s industry leaders who have taken on the challenge of mastering leadership and their businesses. Welcome to Transform Masters 2017. It’s time to meet some of the ‘Masters’ coaches and the #SuperSix; plus our additional challengers, the #LuckySix.

Transform Masters (2017) is presented by

• TRANSFORM MASTERS EDITION

THE TRANSFORM PROGRAM Visit eliteagent.com.au/transform to find brief video tips from our coaches. To hear full coaching episodes in the office or on the go, subscribe to Elite Agent’s new podcast ‘Elevate’, which features the full audio of the Transform Masters webinars. PODCAST RELEASE DATE

COACH

TOPIC

11 September

Jet Xavier Mindset Coach

John Maxwell’s Five Levels of Leadership

19 September

Fiona Blayney, CEO, Real+

The 8 fundamental areas of goal setting in life and in real estate

22 September

Matt Lahood CEO The Agency

Creating a winning culture in your real estate business

25 September

Kylie Davis, Head of Content and Product Marketing, CoreLogic RP Data

How to recognise your leadership style and better engage your team + Suburb reports and market share insights

5 October

Fiona Blayney, CEO, Real+

Decisions by numbers

10 October

Tara Bradbury, Director, BDM Academy

Extreme rent roll growth

17 October

Aimee Engelmann, CEO, Beepo

Getting your real estate business ready for outsourcing

24 October

Chris Hanley OAM Director, First National Byron Bay

Good Works: Your role in the community

26 October

Julie Masters, CEO Influence Nation

Personal communication: Structuring compelling messages

31 October

Alister Maple-Brown, CEO, Rockend Scott Downing Head of Customer Experience Rockend

Building your business for the customer

2 November

Sherrie Storor, Experienced Agency leader

Building your database and lead generation online

7 November

Ian Campbell, Founder, getaire.com.au

Technology audit and automation

9 November

Kul Singh, Executive Manager Marketing, realestate.com.au

Tailoring your online message to reach different landlord and tenant archetypes

16 November

Craig Templeton, Chief Information Security Officer realestate.com.au

Managing cyber risk

21 November

Sharon Fox-Slater, Managing Director RentCover, EBM Insurance

Managing risk in business

23 November

Ush Dhanak, EQ Speaker, Trainer and Coach

Mastering Emotional Intelligence to raise employee motivation

TO NEW BEGINNINGS... After two full days at ARPM 2017, it was down to business for the Masters #SuperSix, including getting to know Head Coach Fiona Blayney, plus some shiny new headshots by Jason Malouin of the Portrait Store. FIONA BLAYNEY, CEO REAL+ (TRANSFORM MASTERS HEAD COACH) Transform Day 1 is always a challenge, and this year, Fiona challenged our #SuperSix with a 360 goal-setting session, geared at understanding the value play-off between all the different facets of life and within a business. Fiona then spent an hour with each to figure out their specific objectives for the following 12 weeks.

We asked Fiona: What is a values play-off? “When you shift your focus you have to take some energy from somewhere else. For example, the principals I work with who want to quickly grow their rent rolls, they have got to move energy from sales and over into property management. We run at life at such a fast pace that we don’t just stop for a minute and work out where we’re running to and why we want to get there, and that’s the exciting thing about Transform – getting people to stop and take stock... ”

JASON MALOUIN, THE PORTRAIT STORE Transform coach Jason Malouin from The Portrait Store believes that

the traditional headshot has a new and heightened place of relevance in the modern world because it either establishes a connection, or it does not. After being made over by pro makeup artist Liz Tagla, Jason worked directly with our #SuperSix to create a dynamic series of portraits. Watching Jason work is exhausting, as his high energy level pours into every subject and every shot. Jason conjured and captured different micro-expressions, which dramatically impacted the look and feel of each image for our Masters #SuperSix.

We asked Jason: What makes the perfect headshot? “The perfect headshot is kind of an elusive creature… We’re thinking about the end user every time we make something… We give a little glimpse of humanity that hopefully makes the viewer feel they can connect with the person.” Jason says the ’connection’ is the moment of truth when a customer, or prospect, decides whether they want to know more, based on what they have seen of you. eliteagent.com.au 57

• TRANSFORM MASTERS 2017

TIPS FROM THE MASTERS #SUPERSIX As Transform requires its participants to ‘hit the ground running’, here are some of the insights our Masters #SuperSix have gained so far. JOSH HART, DIRECTOR, ONE AGENCY LAUNCESTON, TAS Josh Hart has had a big 2017. Walking the floorboards of the AREC stage in May this year, Josh is an accomplished salesperson and already an industry personality, having established a powerful personal brand and stellar sales career over the past decade. Josh recognised that sales and leadership were two very different beasts and applied for Transform Masters to transform his leadership brand. Josh said, “Everyone presumes that you are ‘fantastic’ and you have a strong business, but they don’t see the chaos behind the scenes. Everyone [also] presumes that if you are in a high-profile role, then you are good at leadership – it’s almost like a given. “I’ve come to understand that I’m not that

JOSH HART

58 ELITE AGENT • OCT - NOV 2017

strong a leader because I have never been taught to recognise really strong talent and to be able to give them guidance; but also to recognise that they are not me… I want to be able to harness that person and give them the best opportunity to succeed for their family – but also to their true self as well.” A tip from Josh: “In this industry, everyone expects that you have to work these ridiculous hours – not just nine to five, but 24-seven – and it’s almost like beating your chest with it as a gold medal or award. That is actually not a cool thing to do. It’s really unhealthy… it’s not going to give you longevity as well.”

ALICIA WILLIAMS, DIRECTOR, LOCATIONS ESTATE AGENTS GLADSTONE, QLD With a background in accounting and finance, Alicia’s segue into real estate almost five years ago has seen her wear a mixture of hats and roles across the offices. Located smack in the wake of Central Queensland’s mining boom, Alicia is operating in one of the toughest markets in the country. Listing and selling, growing the rent roll, balancing the books and leading the organisation, Alicia is combining both strategic and tactical roles across all of the verticals in her business. On joining Transform Alicia said, “I want to... look at what I am doing, what I

ALICIA WILLIAMS

have learned so far and what things I can change, not only to [add] value to myself in the future but to benefit my team, because their personal growth and professional development is going to be integral to the success of Locations [Estate Agents].” A tip from Alicia: “My key tip is being more accessible to my staff and that it’s important to interact with them as a whole person (how are the kids, how was your day) and not just be work oriented. Sensing their energy and working with them to overcome personal issues will in turn grow them and the team, and boost office morale together. “For me, it is going back and looking at what I am doing, how I am really spending my time – not just whether it’s a dollar cost-productive activity, but whether there is real value there.”

sustained through the highs and lows of the Perth market. While Ashleigh’s primary focus has been property management, she is now working on moving into more of a strategic role to create some goal based outcomes in the business, enabling a better work-life balance. “My leadership ambition is to create an independent team,” says Ashleigh. “I also want to have someone that I am accountable to in the business.” NICK PAPAS

NICK PAPAS, DIRECTOR, CENTURY 21 MAROUBRA, NSW Nick Papas is a very popular ‘good guy’ of the real estate industry, who decided to relocate his sales practice from Sydney’s western suburbs to its eastern beaches and Maroubra – an upgrade in Nick’s quality of life because of the time it would give him with his young family. A humble leader, Nick’s challenge is to recognise that he no longer is a guy who ‘just lists and sells houses’, but that he has built up a rent roll and a formidable business he must now lead. Temperence of leadership and sales is a challenge Nick shares with many real estate business owners. “I want to be able to make enough time to continue doing what I do in my business,” says Nick, which is true to his passion for listing and selling. Nick adds, “My leadership ambitions are to really grow my current team and to get them into my business as shareholders/ partners. I’m all about helping others grow with me; not just seeing myself grow… I want to grow the people who are on my journey with me right now.” A tip from Nick: “This has taught me that my business is like any other relationship I have in my life. What I put in is what I get back. I no longer have that mentality of ‘I don’t want to know about it so I won’t worry about it’. I worry about it, but I look for the solution and move on. I have also learnt that giving your staff the authority to make decisions and finding solutions to problems by themselves makes them better at what they do and helps them grow.”

BELINDA MCARTHUR, MANDURAH PROPERTY MANAGEMENT, MANDURAH, WA ASHLEIGH GOODCHILD

A tip from Ashleigh: “My tip is ‘what gets measured gets actioned’ and collect data on everything then leverage from it for performance management and marketing,” says Ashleigh. “ It is really important with staff members to see how we can retrain them into different areas within the business and upcycle their skills.”

Belinda founded Mandurah Property Management in 2016, and is the only property management specialist in the Super Six, as well as in her marketplace. Belinda has been in real estate for 10 years; she was a chef before that and cut her teeth in kitchens at the hand of a series of Gordon Ramsay-esque kitchen captains. In Transform, Belinda is looking to be a calmer, more professional business leader than that and to put the right structure in place to grow.

MARCEL DYBNER, BESSER & CO, MELBOURNE, VIC Marcel is the Head of Property Management at Besser & Co in St. Kilda East and Balaclava in Melbourne. With eight years of real estate experience, he has created his own brand and band of followers through his blogging at askmarcel.com.au. Marcel has come to Transform for its cocoon of intense learning, and the opportunity to focus on the business and plan for a bigger future. “I suppose [I want to know] how to get the

ASHLEIGH GOODCHILD, DIRECTOR, SOCO REALTY, SOUTH PERTH, WA With a real estate career already spanning 18 years, Ashleigh created SOCO Realty in Perth as a family business in her early twenties, and has

most out of my team – and myself. We are a small team at the moment and I think it is important to install those values early on in your business so that you’ve got a strong foundation,” says Marcel. “What I would really like to get from Transform is some strategies to really help the team and the people from my organisation to work at their best.” A tip from Marcel: “Transform has been an eye-opening journey. My biggest takeaways so far are that you need to know what numbers and statistics are important to your business and have a strategic plan to grow. Also, the importance of leadership starts with you – your team has to come first, [so] give them the tools and support they need to succeed.”

MARCEL DYBNER

BELINDA MCARTHUR

“I want to make sure that my processes are in order for my business and that my team will grow from there,” says Belinda. “It is really important to be able to manage your time efficiently and to be able to teach your staff that as well.” A tip from Belinda: “I strongly believe as business owners we need to be using profit to donate back into our community. Every month I give a $50 Coles voucher for each property I lease to any single-parent tenants in my portfolio. I know firsthand what’s it like to struggle, so even if they use it to buy ice cream treats for their kids it has an impact.”

eliteagent.com.au 59

TRANSFORM MASTERS 2017 •

INTRODUCING THE #LUCKYSIX As if the Transform experience wasn’t intense enough, this season we have added a ‘Black Ops Crew’ – the #LuckySix who will play along at home and stay snapping at the heels of our #SuperSix. Without having access to all the perks, the Black Ops Crew will be joining the podcasts and coaching sessions, transforming along with the #SuperSix – and eligible to win! Think of them as the intruders of Transform Masters. Who doesn’t love an underdog? KALY SMITH, KS PROPERTY SOLUTIONS, ALBURY, NSW Kaly has opened up her own property management business and in around 12 months has seen extraordinary growth for a sole trader. Kaly is looking to learn the skills she needs to scale. She is organised, highly skilled and a formidable member of Black Ops.

KYLIE MAXWELL, DIRECTOR, LJ HOOKER, QUEANBEYAN, NSW Kylie is a 25-year veteran of the game and a successful operator, with one of the larger rent rolls in her area. Energised

and experienced, she is looking for ways to convey an exciting vision for property management to her team.

REBECCA FREEMAN, LJ HOOKER CITY RESIDENTIAL PERTH, WA Joining our strong WA contingent in the Transform Masters Edition, Rebecca met our #SuperSix at ARPM 2017 where she was a speaker. Already running a large organisation across two locations (and in competition to some of our Super Six), Rebecca sees the tough WA market conditions as the opportunity to grow. She is experienced and battle-hardened from growth in highly competitive conditions.

MEGAN GREEN, WISEBERRY HERITAGE, CENTRAL COAST, NSW Megan is the General Manager of Wiseberry Heritage, which some of you may recognise as the brand that gave us Darin Butcher for Sales Transform 2017. As she already runs a large operation, we think she has big potential in Black Ops.

SHELLEE HENNESS, PROSPER GROUP, MANLY, NSW Shellee had dreams of joining the police academy before finding a passion for real estate. Since 19 years of age she has learned the ropes on her way up from reception to Head of Property Management. With a wealth of frontline experience and an obsession with running and health, Shellee is competition-fit and hungry for the Black Ops experience.

JESS KINDT, HARCOURTS MARKETPLACE OXLEY, QLD Jess is known to many in the industry as a highly-skilled and high-profile property manager. She has recently accepted the challenge of starting a PM division from scratch, which comes with the challenges that you don’t find in an established portfolio. Jess says she is ready to rise to the challenge of Black Ops.

WHO WILL WIN? The competition is scored over 12 weeks of challenges – and both the #SuperSix and our Blacks Ops #LuckySix are playing to win. The competition culminates in the major challenge, which will be an opportunity for the #SuperSix and the two highest scoring #LuckySix contestants to ‘pitch’ their transformed businesses to a panel of investors, Shark Tank style. The winner will have the opportunity to double their score from any of the challenges. The winner of Transform Masters will be announced at ‘How to Lead a Winning Team in 2018’ event at Doltone House, Sydney on 14 November, where you can also hear directly from some of our Transform Master coaches, including Matt Lahood, Chris Hanley, Samantha McLean, Fiona Blayney, Ian Campbell, Sherrie Storor and more. To book visit eliteagent.com.au/win2018. 

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• TRANSFORM MASTERS 2017

MORE COACHING TIPS FROM DAY 1 If you are also ‘playing along’ with the finalists of this season’s Transform Masters, here are some of the top coaching tips from Day 1.

MASTERING YOUR NUMBERS FIONA MOTT, HEAD OF Customer Loyalty at

Rockend, and EPM Editor Sarah Bell are data devotees who took the #SuperSix through the critical numbers they can look at to monitor the overall health of their real estate operations. “You know how you might go to a doctor complaining that you are tired but can’t pinpoint why? Well, the doctor would normally perform a blood test to monitor some key markers which would indicate where there may be an issue –

or at least which avenue to investigate further,” says Sarah. Fiona agrees. “Good operational data works exactly like that in your business, and can give you an early indication of where you can make improvements. It’s interesting how we can use software and even manually record all kinds of things every day, and yet put little effort into pulling out the information and analysing it to show us the bigger picture.”

MASTERING YOUR MESSAGE SAMANTHA MCLEAN IS THE Managing Editor

of Elite Agent Magazine and knows a thing or two about getting a message out there. Samantha worked with the Dirty Dozen, analysing their strengths and making sure that the story they were telling the world through their online profiles was a story worth telling. “We are all being told to play to our strengths, but it is really interesting to see how many people find it challenging to write or talk about themselves. I think a lot of people don’t have a good handle on what their strengths actually are,” says Samantha. Samantha had each of the Dirty Dozen complete their VIA character strengths profile. The profile is a free and scientifically validated tool which ranks different character traits from most prevalent to least prevalent, so that you can focus on your core strengths and understand what you’re good at. “What is great about the strengths survey is that there are no weaknesses, only less prevalent strengths,” says Samantha. “So what it forces you to do is look at the cards that you have and play them. This is actually what your unique selling point is in the market.” It is important to ensure that your

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message is consistent across all of your marketing, because it is a noisy world and you want to be heard clearly. “What we want to avoid is any friction in a message. So if your potential client finds your realestate.com.au profile and is attracted to your modern marketing and experience, but then they go to connect with you on LinkedIn and your profile hasn’t been updated since you got your first real estate job at reception, you are giving them an excuse to walk away,” says Samantha.

COACHING TIPS – ONLINE NOW As Transform Masters is already in full swing, here are highlights some of the videos, podcasts and resources you can find online now at eliteagent.com.au/transform. MATT LAHOOD, CEO, THE AGENCY Matt Lahood is known for adding a good measure of fun to the workplace. He has developed a professional expertise from his genuine care of people and is a logical go-to guy for questions of team culture and performance.

We asked Matt: How do you keep everyone engaged in meetings? “My sales meetings are never boring. I don’t run them all myself any more, but I coach. “Here’s my tip. I keep them one hour, I keep them really fast. So what we do is there is always a video to start. Just a two to three minute video. They’re always

JET XAVIER, SALES AND MINDSET COACH When Jet found out we were holding Transform for leadership, he immediately invited himself to the party with an idea to take the team through John Maxwell’s ‘Five Levels of Leadership’. Defining leadership is a critical step to understanding and improving it, while the five levels gives leaders a framework to understand their own personal leadership evolution. Insights into the different styles of leadership allow existing leaders and those with aspirations to expand their leadership horizons to become the best leaders.

We asked Jet: What makes a Level 5 or pinnacle leader? “People in society look at Level 5 leaders as people like Nelson Mandela or Bill Gates or Oprah Winfrey or Mother Teresa. They

motivational, exciting, fun; they could be something silly, they could be something like a silly accident someone had, just to get everyone laughing. “Second thing then is we talk about what’s currently listed on the market now. We talk about what is going to auction on the weekend. We talk about offers they are accepted in the business right now. We talk about top fifteen buyers the company has got right now. We also talk about properties that have passed in an auction that didn’t sell. Then we talk about pipelines. “The one thing I do consistently, before the meeting I put things under chairs. I might put a Westfield gift voucher, two of

look at them and think, ‘Hang on a second. That type of leadership is way out of the stratosphere for me as an individual in an organisation.’ Well, I’ve seen lots of leaders within the real estate industry who are Level 5 leaders. You’ve got people like John McGrath, people like Phil Harris. People follow them because of who they are, not necessarily what they do. People follow them because of what they represent.”

CHRIS HANLEY OAM, DIRECTOR, FIRST NATIONAL BYRON BAY A tribal elder of our industry, Chris Hanley lives and guides others by the central tenant that ‘Good Works’, because it does. Chris is a big believer that real estate, and the opportunities and rewards it delivers, ought to be a vehicle for doing good and for putting down deep roots in a community, and being of service.

them randomly spaced in the team, then when I can feel the meeting going into a lull and people start to look at their phones and things, I say, ‘All right, everyone stand up and check under your chairs.’ “At the end of the meeting I say, ‘Guys, here’s why you should never not come to my sales meetings: you just don’t know what’s going to happen.”

Living a life of purpose and service, has seen Chris himself enjoy the respect of the industry as a leader among leaders. He has also won the respect of his own community in receiving Byron Shire’s Citizen of The Year award and has been awarded an Order of Australia Medal for his contributions to literature and indigenous education.

We asked Chris: How does ‘good’ work? “Nothing encapsulates not only my ethos, but the ethos for most successful organisations I’ve ever seen, as much as ‘Good Works’ and it does: good does work. But in terms of how good works, if you build your own business in real estate and you practise good, and good is within your community and within your staff, the bottom line is that a model of ‘good people’ kicks in. Your business will work and you’ll put down deep roots, really deep roots in your community, like a big, solid tree. And although stuff will happen, your organisation will still prosper. That’s why I love that expression about good works.”

Transform Masters (Leadership) is presented by

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Q&A ASK THE COACH – Claudio Encina With our Transform Masters program ongoing, the latest Transform #SuperSix have some tricky questions for head coach Claudio Encina to answer.

What is considered a good conversion rate from appraisals to listings? And what are the three best things to focus on? – Ashleigh Goodchild, Soco Realty Awesome question! Generating leads is easy, but all the money is made in the conversion – the lead follow-up and priming the client before the listing appointment by delivering an effective presentation. Firstly, be sure to understand the quality of the lead; some people think a market appraisal is a seller, but I consider the listing appointment more qualified as you will discuss commission, marketing and price. A market appraisal may just be a price check.

experience a consumer has ever had? How can you create an amazing experience for your client? Consider the whole process, from when you take the initial phone call and thank them by text immediately afterwards, to your pre-list information kit. Finally, video record your listing presentation and observe how you are coming across to people. Is your message right? Are you on point? Are there any um’s and er’s with irritating speech habits or are you comfortable pausing? Make the necessary changes to get more yeses and win the listing.

WHO ARE YOU TALKING TO? The very first question you should ask is ‘Who is your customer?’ It’s vital to know who you are talking to, and it can be just as useful to work out who you are not trying to talk to. For example,

If you can’t find something that makes you stand out, you need to add something special to what you do and then let people know about it!

The truth is that today you are competing to provide the best experience a consumer has ever had. The conversion from a listing appointment to a listing should be somewhere over 70 per cent. Review your conversion in the last 12 months in your business. To achieve a 70 per cent conversion rate or more at the listing appointment you should know the common five or six questions every seller will ask when you show up – the old adage Proper Preparation Prevents Poor Performance. To improve conversion rates, are you providing the best

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How do we stand out from the crowd when it comes to listing? Are people more inclined to go to a tech-savvy agent or is the old way still the good way? – Kaly Smith, KS Property Solutions It is a crowded world out there, with a lot of agencies and listings vying for customer attention. Here are number of thought starters on how you can make yourself stand out and talk to the right people with your marketing.

quality, speed, reliability, convenience or something else? Work out the main drivers; if you are unsure it is always a good idea to ask your existing customers. Action step: Write down what is most important to your customer.

your marketplace is full of millennials. High tech and social media platforms might be the best strategy to target that audience for that listing. Action step: Write down exactly who it is you want to appeal to. WHAT DO YOUR CUSTOMERS CARE ABOUT? The next thing to work out is exactly what motivates your customers. Ask these questions to get an idea: Do they care most about value,

WORK OUT YOUR POINT OF DIFFERENCE Are you able to differentiate yourself? What is your degree of separation from your competition? If you can’t find something that makes you stand out, you need to add something special to what you do and then let people know about it. Remember that your front window is a valuable marketing site – it’s basically a big free billboard. And don’t forget to get inventive in your marketing, especially Facebook Ads as they are cost effective. It doesn’t have to be expensive to work. Action step: Work out what is most special about how you deliver your service, or the most distinctive advantage you have, and then put it in a way that makes you stand out from your competitors. 

To have your question answered email askthecoach@eliteagent. com.au. To connect with Claudio visit claudioencina.com.

ELITE AGENT AC A DEM Y

CPD ONLINE

Ready when you are! Elite Agent delivers distance CPD and other short courses online for NSW Agents in association with MRT (RTO 41529).

Standard online courses from $89 including assessment and certificate (or contact us about having our team put together a bespoke CPD course for your office)

Visit eliteagent.academy for more information

ELITE AGENT AC A DEM Y