Chasing the big 3

Your skill as a business leader is to find the biggest opportunities for growth over the next twelve months. In my Growth, Leadership and Management Tip today, I’ll look at chasing the Big 3 and getting strategic around those opportunities inside of your business.

Our industry manages growth opportunities really poorly. I’ll show you your greatest opportunities for growth and tell you specifically whose job it is to take those actions, beginning with calling your landlords and discussing what you can do for them.

Past clients offer us huge opportunities, yet we’re fixated on finding new clients. I’ll help you change the way you work with your past clients and begin seeing them as future clients and valuable customer referrals.

Next, we’ll look at what to do with your market appraisals, which are done and waiting to show you the problem the customer needs you to solve. Chasing the Big 3 means identifying and pursuing the opportunities you have that are well worth the pain of change.

Ep 326 – Market aspirations

In this High Performance Podcast for Real Estate Agents, Josh Phegan and Alexander Phillips discuss market aspirations, learning to think about a bigger core market whilst growing towards a secondary market, and working before-and-after markets. Alex talks about cross-selling between suburbs and avoiding getting pigeonholed into a single area. He also notes that the smaller properties are as important as the larger, more expensive ones.

Josh lists his primary and secondary markets, including those in New Zealand, Dubai and the UK, to reinforce the need to make sure your aspirations are big enough and to demonstrate that it’s really not that hard to make it happen.

Finding latent demand

Right now, people have significant equity on properties they own. In this Coaching Tip, I’ll help you with finding latent demand for properties that were not transacted during the pandemic and buyers who’ve had an equity event during that time.

These people may not be actively looking for properties, but they would probably do a transaction if you were to find them something to buy. I’ll show you the skill of finding people with the capacity to do that when the market changes.

It’s about asking the right questions and having great game-changing dialogue. I’ll give you some examples you can use and a few key questions that will create real buyers today who will then qualify to be future sellers.

Finding latent demand is what great agents do. Take action now. Don’t rely on marketing. Build a business where you know the people who need to do a transaction, and build reliable relationships with them that matter.

Fast Pace Ep 63 – Leadership in the VUCA world

This Fast Pace episode features Dean Mackie and Josh Phegan on leadership in the VUCA world, meaning Volatile, Uncertain, Complex and Ambiguous. They discuss the VUCA concept and how it applies to real estate, understanding and thriving with change, learning to pivot and adapt, bringing clarity in uncertain times, taking action quickly, and being a better leader.

Ep 325 – Growth engine

Today’s High Performance Podcast for Real Estate Agents features Josh Phegan and Alexander Phillips on identifying your growth engines and recognising the biggest opportunities inside of your business. Alex looks at how market dynamics affect available properties and advises focusing on price points when the market is slow. He talks about equity and tells how past clients can be your biggest growth aspect.

Josh notes the need to create opportunities instead of waiting for them to come to you, skills you actually need agents inside your team to have and learning to think bigger and do the extra transactions per year that will ultimately grow your business.

The three lists

It’s not about the size of your database, it’s what you do with the data and how often you review it that matters. In my Coaching Tip today, I’ll give you three lists that will allow you to use that data to build an incredible business.

The seller hitlist contains the people you’ve already pitched to, and they’re either going to choose you or a competitor. I’ll show you what you need to do to make sure you secure those listings.

The next list is market appraisals. I’ll outline what to do beyond the appraisal and where to go with them next when they say they’re not selling. This leads to your list of buyers/sellers who will sell with you if you find them something to buy. It’s crucial that you understand their needs and keep them informed.

Building a huge database is pointless if you do nothing with it. Review that data every day, and use these three lists to print out those call lists and make those calls. Push yourself to the upper echelons of high performance and you’ll scale your business exponentially.

Fast Pace Ep 62 – Onboarding (new, established and learned history)

This week on Fast Pace, Dean Mackie and Josh Phegan talk about onboarding and the first 90 days. They look at optimising the process through pre-boarding, why 30% of hires leave within 90 days, getting people engaged, what to do when onboarding fails, mapping out expectations, making it a good experience, and paying attention to feedback from the new hires’ fresh views of the business.

Performance planning

How are you going to shift your performance over the next 12 months? You need a growth plan, and in this Growth, Leadership and Management Tip I’m talking about performance planning. The end of our financial year is where the rubber hits the road. 

This is where you’re faced with the reality of what’s been happening inside of your business over the past year. What you see here will inform what your next trajectory should be, and I’ll show you where to look for your greatest growth opportunities.

Identifying what to do next and the strengths you need to develop is an essential skill for a great agent. I’ll show you how to build a one-page growth plan that will give you clarity of purpose, values for team building, and the specific mission you want to achieve.

As a business leader, performance planning is necessary to make sure your team is clear on where to find opportunities, and to show you where to help them improve their level of performance. Give them a plan so they know what to do next over the coming financial year.

Motivation commitment

It’s motivation that makes a market fluid and commitment that completes the transaction. In this Coaching Tip, I’ll examine which events affect motivation and commitment and how understanding those influences puts you in control of the transaction.

In any transaction, there is a buyer, a seller and an agent. I’ll break down the motivations of each party and illustrate how the media, the market and opportunities to make the deal can influence their decision making.

When buyer, seller and agent motivation are all low, you experience flat periods in your career. But commitment is another element, and I’ll show you how that looks with buyers, sellers and agents. And I’ll tell you how to make your business market-proof.

The most important thing you can do to make your business seriously move is to make sure you’ve got the motivation and commitment of the buyer, the seller and you as the agent. This will consistently put you in the position to win.

Fast Pace Ep 61 – Entries and exits (slow buy in, slow sell out)

In this Fast Pace episode, Dean Mackie and Josh Phegan look at entries and exits for business ownership. They discuss evaluation methodologies, complete documentation, clear systems and processes, slow buy in and slow sell out, building for saleability, knowing your own strengths and skillset, and insights for shareholders.