Today’s High Performance Podcast for Real Estate Agents is all about systems. Josh Phegan and Alexander Phillips discuss knowing how you do business and outlining systems to get it done. Alexander describes the systems his business runs on and how he and his team execute on them, detailing phone work and scheduling, and emphasising time management and preparation. Josh notes that systems must be teachable and Alexander tells how his people stay on track by following systems from day one. Josh notes how systems support expectations, values, accountability and consistency as well as health and energy. He points to procrastination as a lack of clarity, and Alexander closes with staying focused on your desire to succeed.
Buyer and Seller Hit Lists
Of all the categories in your database the two most important are your buyer and seller hit lists. Active buyers and sellers are primarily important because these are the people you will be doing most of your business with, and this year’s market will be presenting you with some new challenges and details to watch for.
You need a system for determining which of the buyers in your database are still interested in buying property within your market. Many buyers are finding that the values of properties in their initial areas of interest are not what they expected and start looking in other markets for acceptable properties in their price range.
The best way to know who is on board with you is by calling them ten days after the open for inspection, then again when the property sells to find out if they’ve bought something else or are still looking within your market. And make sure the buyers you spend time on have been fully approved by their bank and are able to buy.
With sellers you should determine if they are in red light, orange light or green light mode and focus on clients you know are prepared to work with you. Call these people regularly with new listings and sales, plus open for inspections and auctions, and keep tabs on their why, how and when situation.
Project beyond immediate listings and plan ahead for those who are likely to come to market 30, 60 or 90 days from now. Watch for those future opportunities and know ahead of time which sellers will likely be coming to market later in the year.
Working your market effectively is all about being able to search your categories and get the reliable information you need when you need it, especially for these vital buyer and seller hit lists.
I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.
Ep 36 — Creating a Future Greater Than Your Past
Today’s High Performance Podcast for Real Estate Agents features Josh Phegan and Alexander Phillips on how to work beyond past failures and realize future success. Alexander advises setting goals continually, knowing what you want out of life and loving what you do. Josh cites early influences in life and Alexander adds his own experiences and support structure. They discuss how good relationships with other dynamic agents, including competitors, enhance motivation and growth. They also note the importance of always having a number of prospects so that if one or two listings fail there are more to work towards. Staying mentally and physically prepared is also key. Josh closes with a reminder to focus on your future ambitions, not on the past.
What’s Your Unique Selling Proposition?
What is the one standout quality that identifies you as the best agent your clients can choose to work with? If you don’t have an answer you’re in trouble already. In my Coaching Tip today I’m talking about establishing your unique selling proposition to set you apart from other agents and demonstrate genuine value for consumers.
Your unique selling proposition (USP) is the quality that influences customers to want to work with you. It starts with demonstrating that you understand their needs and you have the solutions to fulfil them. First, demonstrate your viability by presenting lists of open for inspections and buyers you already have waiting to see the home.
Outlining ways your proven approach to maximizing sale price is more effective than other agents is especially impressive. Visuals are also powerful as clients really connect when they can see photos from successful campaigns, sales and auctions to help you get clients focused and engaged with what you’re telling them.
You have to identify which of the many things on a client’s mind is the most important outcome for them. I use the SPACER analogy, which identifies levels of need for Safety, Performance, Appearance, Convenience, Economy, or Reliability. Once you know which of these aspects is most compelling to your buyer you can zoom in on that, break it down and base your presentation around that need.
Lots of agents rely on preview and coming soon campaigns, but you can set yourself on a higher level using a list to launch plan, showing that you have a buyer hit list ready to go and can produce potential buyers right away. This progressive approach to marketing often eliminates the need to list at all by selling the property quickly to buyers you already know and are working with. It also allows you to command the best possible pricing for a property.
Differentiating yourself from the competition with your unique selling proposition is key because if you don’t offer clients a foundation of confidence, dynamic solutions and demonstrated value for your fees they will simply go with an agent that charges less for their services.
I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.
Ep 35 — When a Property Sale is Off Track
Today’s High Performance Podcast for Real Estate Agents features Josh Phegan and Alexander Phillips on getting properties sold in today’s evolving marketplace. Alexander emphasises knowing your process and communicating clearly with your vendors about what is happening. Josh advises setting expectations right from the listing presentation. Both agree the vendor relationship and initial buyer experience are crucial. They discuss indicators for property tracking, how to evaluate where the vendor is emotionally and ways to get buyers more invested in a property. Alexander tells how to handle a property that previously failed to sell through another agency, or get an extension on an agreement you are handling.
Setting Intentions
It’s easy to look at your accomplishments over the past year and decide to do better in the year ahead, but you need a deep will to win if you want to achieve substantial growth. You must consciously set clear intentions for your business and leadership goals for yourself.
Having a solid foundation is a must for the adaptability you’re going to require as the marketplace changes and there will be some real challenges coming up this year. You will have to focus on your numbers like never before and you need to plan for that now.
Planning takes time and it’s not a set-and-done task. Schedule a two-day planning session once a year, then follow up with regular tracking on your progress. Use monthly catch-up sessions to detail what you’re doing and what needs to be done. Conduct quarterly reviews to look at achievements, lessons learned, strengths, weaknesses and opportunities. Evaluate your big projects and decide how you want to steer them in the next quarter. Great businesses are built on honesty and vulnerability as you have to see what’s really happening, not just what you want to see.
Your long-term plan should include multiple streams of income. Beyond real estate sales, think about expanding into mortgage brokering, property management – even in-house photography and media production for presenting properties with brand distinction. Take a new view around the kind of business you want to build. How has your scope broadened over time? How much more is possible for you now?
Remember to create lucrative career progression for your people, too, because as they grow your business grows with them. Help your good people become great so they can channel their skills and capabilities into stellar business success.
Imminent market trends you need to prepare for include longer days on market, lower auction activity, and challenging conditions overall. Align your organizational culture now so your people know what is expected of them and can stay motivated when these changes occur.
Don’t forget to set your calendar for marketing campaigns and leave time for the year ahead. That New Year vigor won’t last, so make sure you keep your marketing current and your people energized, because those are the two most vital elements for keeping your business fresh throughout the year.
I hope you’ve enjoyed this month’s Growth, Leadership and Management Tip, and I look forward to seeing you here again next month.
Ep 34 — Handling Common Objections
In today’s High Performance Podcast for Real Estate Agents Josh Phegan and Alexander Phillips share strategies around handling common objections. Alexander offers examples of ways some clients test you out, then Josh and Alexander exchange the questions clients ask most often, show how you should respond, and give examples of sound answers to those objections. A most common client objection is fee percentage, so fee defence and demonstrating your value are covered at length. They address objections to method of sale, and Alexander offers advice for younger agents whose clients have misgivings about their age.
Ep 33 — Going Pro: Managing Your Time, Health and Energy
Today’s High Performance Podcast for Real Estate Agents features Josh Phegan and Alexander Phillips on managing your time, health and energy as your professional demands increase. Alexander describes the effects of stress and tells how he maintains positive energy and a clear head. Josh observes that your external world is a reflection of your internal state and being disorganized is a big stress factor. Alexander suggests setting up personal systems and outsourcing basic tasks so you can always stay focused and present yourself well with clients. Discussion continues around the need for healthy nutrition and fitness activities, a daily routine, and systematic orderly processes in your work. Josh ends on implementing these tips to stay focused on building a great career.
Ep 32 — Building Your Profile
This High Performance Podcast for Real Estate Agents features Josh Phegan and Alexander Phillips on building a great profile as an agent and an individual. Alexander notes that whether you’re working or socialising you must present well as an agent and a person, and be consistent in all you do. Josh reinforces making the decision to commit yourself to your career as an agent, and suggests ways to promote yourself and your brand in your daily interactions. Alexander reminds agents that your focus must be on the client, not yourself, and Josh advises to focus on one promotional method at a time for consistency and quality. He closes with ways to establish yourself as a trusted agent and advisor.
Ep 31 — The Structure Inside the Listing Presentation
In this High Performance Podcast for Real Estate Agents, Josh Phegan and Alexander Phillips focus on the purpose and philosophy behind an effective listing presentation. Alexander describes the three aspects of a listing presentation and emphasises asking the right questions. They discuss initial contact with a potential vendor, planning the meeting, and dealing with unexpected developments. Alexander tells how he evaluates clients and defines their needs and desires. Next they share procedures and preferences for conducting and controlling the meeting, and discuss whether to make a proposal during the listing presentation or in a second meeting. Josh ends with ways to differentiate yourself from other agents.