This week on Fast Pace, Dean Mackie and Josh Phegan explain how the leader leader model applies in real estate. They show how the leader follower model limits potential and growth whilst the leader leader model helps people think fast, take initiative and make decisions with confidence. They share tips, tools and templates to train, teach and test, and help your people do more as individuals within your framework.
Don’t neglect the balance sheet
In business you’re playing profits and losses. Most agents are focused on top line revenue, but in this Growth, Leadership and Management Tip I’m here to show you why you don’t neglect the balance sheet if you want to build profits and saleability.
It’s really all about comparing revenue minus expenses. I’ll show you how balance sheets differ between a small business and a publicly traded company, and where profit and loss statements are massively important.
I’ll explain why spreading the percentage of recurring revenue from a particular writer across the sales team reduces risk. Then I’ll break down the balance sheet and show you why it’s your assets and liabilities that show you what’s ultimately won or lost.
It’s important to buy and sell for your own firm as well as your clients. I’ll tell you about buying freeholds and how to use them as assets. Again, don’t neglect the balance sheet. Understand the importance of building significant assets for extreme profits.
Ep 311 – Starting out in a team
This High Performance Podcast for Real Estate Agents features Josh Phegan and Alexander Phillips on starting out in a team and developing the skillset you’ll need to be useful to other team members. Alex notes the importance of listening, taking in information and asking questions. Josh talks about gaining and using product knowledge and they explore what it is, and illustrate the best ways to learn it.
They discuss the 5 key skills you need to learn, pacing yourself not to try to do too much too fast, asking your agent where your blind spots are and how to improve, and making sure you really understand the core basics.
How to stop getting rejected
Too often we avoid making those crucial phone calls because we fear rejection. In my Coaching Tip today I’ll show you how to stop getting rejected, end procrastination and overthinking, and take a winning approach with customers.
The key is to open up the customer, find out where they’re at and determine what their next steps should be. I’ll show you why rejection isn’t about you at all, and how to end it by calling the right people, having the right dialogue and asking the right questions.
I’ll tell you how to assume a customer-led strategy by focusing on building relationships, how to read the customer to know which questions to ask, and lead consumers into making much better decisions as a result of using you as their agent.
Your job is to find people who don’t think they’re ready, ask them relevant questions, increase their level of motivation, and get them to ‘yes’. Change your game by identifying the customer’s problem and helping them solve it. That’s how to stop getting rejected.
Fast Pace Ep 46 – Motivating your team
This episode of Fast Pace features Dean Mackie and Josh Phegan with insights for business leaders around motivating your team. They talk about knowing when your team is lagging, initiatives that can get them back on track, understanding what drives motivation, helping individuals with their specific challenges and creating a supportive environment.
Ep 310 – Making the perfect call
In this High Performance Podcast, Josh Phegan and Alexander Phillips talk about making the perfect call, areas where most agents have problems, and what you can do to improve your results. Alex tells how he prepares for the call, keeps it productive and gets through it quickly. Josh offers some tips on getting commitments from customers and they discuss why speed, time and volume are important when you’re on the phone.
Alex suggests role playing with a colleague to build confidence and improve your delivery, and Josh adds knowing the purpose for the call you’re making.
Why you lose listings
The number one reason why you lose listings is because you fail to find out about the customer and their situation. In this Coaching Tip, I’ll help you stop telling the customer what you want them to know and learn to listen to what they need you to tell them.
You need to have a clear opener for your listing presentation that sets the scene for the customer to feel comfortable in deciding to use you. I’ll also explain the ‘your situation’ section, where you find out what they need to know and how you can help.
I’ll talk about game changing questions, visuals that show your skills and capabilities as an agent, using trial closes, summarising the end of the presentation with clear confirmation around all agreements, and what’s next if they don’t sign.
After you leave the home, there are more steps to take, and I’ll walk you through those. You need to know why you lose listings and what you can do to really get yourself back in the game. I’ll also show you how you can list a property in under four questions.
Fast Pace Ep 45 – Cracking the formula
This Fast Pace episode features Dean Mackie and Josh Phegan on how to find the best people and help them get seriously good. They acknowledge there’s currently a shortage of qualified people and explain why that’s true, outline different strategies for recruiting and qualities they look for in a good candidate and discuss recruiting from complementary industries and setting a high performance environment so good people will stay.
What’s important now
Your ability to focus on what’s important now will make the difference between having a great business or just an ‘okay’ one. In my Growth, Leadership and Management Tip today, I’ll give you some simple tools to get clear, pivot, and realign.
I’ll show you how we use the W.I.N. acronym inside of our business to realign our focus on what’s important now. I’ll give you my forecast for the coming year and tell you why it’s not going to be as good as last year and how to work with that.
As a leader inside of your organisation, your number one job is to tune your people in to what’s important now and train them on those specific skillsets. And you’ve got to be incredibly optimistic for them, regardless of circumstances.
Sometimes a market happens to you, but I’ll show you how you can respond in a positive way so that you happen to the market. What’s important now needs to be on the agenda of every meeting you do because new waves are rolling in. It’s time to learn to surf.
Ep 309 – Working nervous buyers
This High Performance Podcast for Real Estate Agents features Josh Phegan and Alexander Phillips on working nervous buyers. Alex tells how he sets up an environment where buyers feel the urgency to make a decision and act on it, and he suggests progressing sellers as well as buyers. Josh tells how building relationships boosts customer confidence, and they discuss how buyers want to feel like you’re managing them through the process.
Alex and Josh look at how current market knowledge changes the way you go to work with buyers and sellers, how to stay ahead of a broad marketplace and avoid being pigeonholed into one area, and how to think about your own brand in a way that gives you a wider reach.