Keep The Mission, The Mission

What makes a great business is recurring revenue, and in this month’s Growth, Leadership, and Management Tip I’ll tell you why you must keep the mission, the mission in order to ensure you’ll maintain that ongoing profit.

Your number one recurring revenue stream is, of course, property management. But what other ancillary services can you create? You are, in fact, doing more and more for the customer and you should be charging accordingly for those services.

You must understand the metrics you want for growth. That includes organic property management combined with purchasing new assets. I’ll tell you how to move into a position of ownership once those assets start making good money.

I’ll also tell you why you have to always be building talent and systems to amplify your people’s performance. And that all comes down to you and the platforms you provide to coach your agents to greatness.

To keep the mission, the mission means getting clear on what success looks like for you, and making the right decisions, setting the right missions, taking metrics and measurements, and then making the necessary adjustments to get the results you deserve.

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 206 – Building a Mindset of Resilience

Today’s High-Performance Podcast for Real Estate Agents features Josh Phegan and Alexander Phillips on the benefits of building a mindset of resilience and projecting confidence. Alex notes the importance of learning from your past and continuing to learn so you present a level of comfort in knowing what you’re doing. Josh speaks about his early days and how he learned to move from transactional to transformational, and Alex speaks to authenticity and being who you are in building better relationships.

Josh notes that it takes less energy to be naturally yourself than to try to be someone else, plus you’ll be more approachable and project better energy. That energy and confidence is attractive, and it will make people want to work with you.

Ep 205 – Your Three Most Important Numbers

In this High-Performance Podcast for Real Estate Agents, Josh Phegan and Alexander Phillips discuss your three most important numbers for being competitive whilst maintaining your fees. Alex returns to the fundamentals of real estate and points to the most controllable numbers for you to spend time on. He uses some of his recent sales to illustrate how to evaluate your marketplace potential, and Josh adds the necessity of being able to surf the waves of the changes we’re navigating in this new market. He also talks about performance-based “kicker” fees to gain a bit more income from each transaction.

Josh reinforces the expectation that charging what you’re worth and being worth what you charge, plus generating better quality lead sources, can turn a business quickly. You need to work out what’s right for you inside of your market and play your best position.

The Leftovers – How to Sell in Under 30 Days

Repositioning is about not being afraid to re-list existing properties that have already been on the market awhile. In my Coaching Tip this week I’m talking about the leftovers and how to sell in under 30 days in today’s economy.

If the property isn’t selling, the owner knows. Your job is to maintain a high level of rapport in the relationship with your client so you can be the trusted advisor. I’ll demonstrate good dialogue for having that conversation around what needs to happen next.

I’ll make some recommendations for changes you should consider for re-listing the property. I’ll also show you how to reposition the property and ensure as many buyers as possible will see the home.

Don’t be afraid to take the property back to auction or make a change in the price, but make sure you get new buyers through the home within 24 hours so the client sees results. I will tell you how to find buyers and when it’s time to use the changed player technique.

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

Ep 204 – Committing to the Basics

This High-Performance Podcast for Real Estate Agents features Josh Phegan and Alexander Phillips on why committing to the basics is necessary for making things happen in this market. Alex lists basics for time management and working smarter and Josh shares some observations from recent open for inspections. They discuss ways of being more present and getting good information in the moment. Alex suggests using guide prices to cut back on pricing inquiries, and they note the negative impact of not being attentive to customers during opens.
Josh elaborates on opportunities for lead generation at your open for inspections, making a good lasting impression while you have the chance, being focused on what the customer is doing, and learning to give good immediate answers to their questions.

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.