The Slow Burn Recovery

In any economy, there are three stages, and we are currently in the third stage. In my Coaching Tip this week I’ll explain the slow burn recovery and my market projections for a fully normalised market over the next 6 to 18 months.

We’ll review the three economic stages and discuss where we are in relation to where we’ve been. I’ll step through some recent events that have put agents off their ball around prospecting, and the post-election bounce that has agents thinking the market is back.

We’ve gotten into a two-speed economy as a result. I’ll show you the pitfalls of the first side with properties that are languishing and low seller motivation, and I’ll coach you on how to target your prospecting in the recovery side of the market.

You’ve got to know what’s actually happening with the structural movements within this economy. We’ll look at the long-term impact on property prices and how interest rates can be used to reform the economy. And I’ll show you the most important thing you should be doing in this slow burn recovery stage.

I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.

Ep 203 – What Drives Great Salespeople

Today’s High-Performance Podcast for Real Estate Agents features Josh Phegan and Alexander Phillips on what drives great salespeople so you can better understand what drives you as well as people around you. Alex tells what drives him, and how you can use your own desires and what you want to do to calculate the numbers you need to reach. Josh elaborates on the importance of defining your vision for your life and as a leader, and knowing what success looks like for you and your team so that you can all be clear on what to do to get there.

They discuss the process of finding out what you want and knowing what it will look like when you achieve it, knowing what obstacles you’ll encounter on your path, and choosing not to do what’s easy but rather what will make you the person you want to become.

Pipeline Progression

The customer will buy your services to sell their property when they’re ready. The key is, it’s your sales process that gets them ready. In my Coaching Tip this week I’m talking about pipeline progression so you can develop the skill of progressing people to market.

Your job is to identify how to bring clients to market with a higher level of urgency. Start with a pipeline review meeting each week where you’ll look at all the people who are thinking of coming to market and their reasons for doing the move.

As you review these pipeline sellers, determine their problem, timeline, and destination. I’ll give you several points to sort them by according to what they should know about and how to bring them to the market earlier. This progression works for buyers, too.

Too many agents never review the pipeline already sitting inside of their database. You should review yours every week to learn what you can do to drive pipeline progression. It’s your ability to go deep with the client that will determine your success for the next 6 to 12 months.

I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.

Alignment – Vision, Purpose, Mission, Values

In a great business, everything you do leads to a desired outcome because you’ve got a clear strategy in play. That’s what alignment looks like, and my Growth, Leadership, and Management Tip this month is about your vision, purpose, mission, values, and ultimate success.

The vision you set is a core component to success, and that is made up of three elements beginning with purpose. I’ll help you define what you’re doing, why you exist, what problem you are solving, and how to make things happen.

Next, I’ll talk about getting clarity on your mission. It’s not where you are, but where you’re going, and the changes you need to make in order to get there. We’ll look at the actual strategic objectives you’ll need to achieve over the next 5 years.

This leads to getting clear on your values and the rules of the day that support them. This is key because if you don’t know them, neither will your people. If you want alignment you have to define your vision, purpose, values, to make your decisions going forward so much easier.

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 202 – Off and On Markets

In this High-Performance Podcast for Real Estate Agents Josh Phegan and Alexander Phillips discuss off and on market sales, using off market as a tool, and best practices for making the buyer pay more. Alex says there’s a time and place for off market and offers an example from a recent client interaction. He also tells how to use an off market situation to create urgency, and illustrates points to be careful of. Alex advises making sure the vendor is actually motivated to sell and not just fishing.

Josh tells how to use forthcoming auctions as a way to control the process of going to market and a mechanism to get buyers to pay more. He also lists advantages of launching and going to market this way.

Set Targets That Inspire

At the end of any review period, you’re faced with the task of setting a target for what it is you’re going to do next. In my Coaching Tip this week I’ll show you how to set targets that inspire and ensure alignment around your team’s day to day activities.

I want to get you thinking about things you can do to allow your business to grow year on year regardless of anything else. I’ll give you the formula for the rule of 72 so you can figure out how many years it will take for you to double your business.

The key is to set the same degree of momentum year in and year out to maintain that level of growth. To get the result, sometimes you have to change your strategy. Your annual strategy then breaks down to knowing what it is that you want to do.

To know what to change you must take measurements. I’ll tell you specifically what to measure, how to set targets that inspire, and how to list consistently. I’ll also tell you how the top performers in the country write over 350K in fees per month.

I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.

Changed Agents Award Finalist – Nick Penton

Nick Penton, Sales Agent of Barfoot & Thompson Warkworth is one of our New Zealand Changed Agents Award 2019 finalists. Nick tells us how he has engaged in a team, what he does to ensure he is evolving every day, and how he has changed his life to be able to focus on the core of his business of looking after his clients.

The biggest change I have made is going from “me” to “we”. I have learnt to leverage myself and let go of control, I have engaged in a team to help with the vendor nourishment and layered my offline presence.

I am evolving every day, learning something new and trying to shift the needle. I write two blog posts a week for Facebook and Instagram, a monthly email and quarterly report. I have been working to upskill my abilities through reading Josh’s daily email, listening to the podcast, joining the JP membership program and going along to listing mastery.

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My team is slightly unusual in that my wife Amanda set up a business specifically called Elite Agent Support. She has two virtual assistants in the Philippines and one account manager here in NZ. I made the decision after hearing Josh speak at AREC in 2017 to engage her as a paying client for a monthly retainer (instead of expecting her to work for free!) I now get a team that can look after and nurture my vendors, do all the copywriting, vendor reports, and onboarding (sending marketing calendars, welcome emails, etc.) to getting testimonials and sending gifts out once the property has sold.

This allows me to focus on the core business of looking after my clients and doing the dollar productive real estate activities.

My favourite quote from Josh: “What’s one thing you can do today to shift the needle? GOLD keeps you back on track when you stray off target!”

Changed Agents Award Finalist – William Tatana

William Tatana, Sales & Marketing Consultant of Harcourts Cooper & Co is one of our New Zealand Changed Agents Award 2019 finalists. William explains how his mindset has shifted dramatically since training with Josh, the point where the real growth happened, and how a strong team gives him tremendous leverage to cover more and establish networks.

The main thing I have changed since training with Josh Phegan was is my mindset. I have gone from a poverty mindset to an abundance mindset. Our Auckland market has become more challenging, so we are concentrating on our existing and past client base, plus nurturing the newer relationships recently established in order to list more properties. There is plenty of business out there for us, we just need to go out and chase it.

Prior to meeting Josh, I struggled with being systemised; I was all over the place, from prospecting to categorising clients all the way through to being sold.

The changing point for me was winning a ticket from our company to my first BluePrint 2014 in Auckland. From then onwards, I grew as a person

I moved from a small boutique to Harcourts Cooper and Co in 2016; since then I have tripled my business.

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Having a strong team gives me tremendous leverage to cover a wide geographical area, plus establishing networks you would never have on your own.

Our team involves Debbie Drazek our team PA, who has 20 years’ experience in the real estate industry, Troy Restieaux my sales associate, who has a wealth of project management experience, and Sam Walmsley our go-to auctioneer. He knows the team intimately and has always been supportive of our endeavours.

This team has helped me scale up business quickly and maintain momentum. They also provide a greater level of accountability. We have a directional meeting 8.30am every Monday morning which sets the next five listings we aim to achieve. When you join us, you are joining a tribe that has a positive culture and strong core values.

My favourite Josh Phegan quote is “Where do your customers hang out before they need you?”

Changed Agents Award Finalist – Peter Jones

Peter Jones, Sales Consultant of Harcourts Birkenhead is one of our New Zealand Changed Agents Award 2019 finalists. Peter tells us about his shift in schedules and time management, how he successfully transitioned from working in a business partnership to working on his own, and the importance of training and systems.

Prior to Josh’s training, I didn’t have any systems or scheduled time in place that allowed me to make calls on a daily basis. Now, I have dedicated time for this important task and am able to track the calls I have already made.

Importantly, as my circumstances changed, I have also learned to work as my own business, instead of with a business partner.

For most of the 22 years that I have been a real estate agent, I have worked in a business partnership. There are many great advantages of this, which include:

  • Two agents have two different personalities and skillsets, which can be more effective in dealing with vendors & buyers.
  • You have someone to bounce ideas off. When one is away the other is still working.

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Up until last year, I had always worked in a business partnership. Thanks to the training, the systems and being able to strengthen my own business, last year I increased my income three times the amount of the previous year.

There are so many great Josh Phegan quotes and one-liners, but my favourite is,” Every client has a problem, your job is to solve the problem”.

Changed Agents Award WINNER – Ali Hellesoe

Ali Hellesoe, Licensee Sales Person of Ray White is the winner of our New Zealand Changed Agents Award 2019. Ali explains how prospecting was made easier, how she is achieving her goals and how training with Josh has helped growth and success in her real estate career.

What I have changed the most thanks to training with Josh is being able to set goals and get a clear idea on the type of agent I want to be and where I want to go. Through scripts and dialogues, Josh’s training has made prospecting easier and more fluent in my day to day conversations with prospective vendors and buyers.

I have been able to adopt all of this thanks to Josh and the people around me. I have a great support network of mentors, friends and colleagues – everyone plays a part in my success and helping me achieve my growth and goals.

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Attending Blueprint in my first year allowed me to develop structure and steps to reach my goals. One of the first things I did was clean my database to service my customers more regularly to become top of mind and relevant. I listen to weekly podcasts and implement new ideas or dialogue to sharpen my language with buyers and sellers.

My favourite Josh one-liner is, “It takes guts, resilience, energy, momentum and sacrifice, it’s not easy but it’s definitely worth it”.