Reducing days on market

Your expectation as an agent is to reduce days on market and give the vendor a feeling of momentum inside the campaign. In today’s Coaching Tip, I’ll show you how to keep days on market short, and why days on market is such a critical component in your career.

The easiest way to reduce days on market is to set benchmarks, and I’ll give you some for the start of the campaign and through days 7, 14, 21 and 28. I’ll also share my 9/14 rule around managing appointments and offers for your existing stock.

Properties tend to be on the market for a long time in a declining market like we have now. I’ll explain peaks and troughs and give you the rules for what to do when things aren’t happening when they need to.

Vendors want to manage things emotionally. You need to be using logic to make the right decisions in a timely manner, to get the property sold at the best price. Reducing days on market means putting energy into those campaigns and keeping your confidence high for you and your vendors.

Fast Pace Ep 76 – The war for talent

In this Fast Pace episode, Dean Mackie and Josh Phegan discuss sourcing and the war for talent. Insights include the need to always be recruiting, creating new positions to bring good people in, having a process for replacement, building an attractive environment where people can excel, and demonstrating leadership and support.

Founders S2 Ep 7 – Josh Phegan interviews Josh Symons from MRI

In this episode Josh Phegan interview Josh Symons of MRI Technologies. Josh’s focus is on sales and property management, the lack of alignment between departments and teams, and the challenges of integration. He explains big data and exhaust data, servicing landlords as 4-dimensional customers, why PM needs automation and specialisation, the relationship between tech and PM, better ways to show properties, and how sales has already been using new technologies successfully.

The game of retention

There’s no ceiling on the amount of income you can produce in real estate, but there’s also no floor. My Growth, Leadership and Management Tip today is about the game of retention and how to hang on to your existing people in today’s uncertain market.

People are looking to you for great sales leadership. I’ll show you some changes you can make to help them be even more financially successful as they were last year, and prevent them from moving into other industries that appear to be easier.

As a leader, your skill is to build confidence in your people and show them what to do in declining markets. I’ll give you the elements of the playbook you can give them, and tell you why it’s so important to celebrate every victory.

We’re working with a completely new set of conditions, and the game of retention is more challenging than ever before. I’ll show you how to retain your top tier talent by showing them a bigger, better future inside of your estate agency.

Expired listings

Markets are changing rapidly, and agents haven’t adapted. As a result, clients are feeling betrayed as their properties fail to sell. In today’s Coaching Tip, I’m talking about expired listings and what you need to do when you go to sell that unsold property.

Hope is not a strategy. You need a plan, and I’ll show you what to look for in the last agent’s failed campaign so you won’t make the same mistakes they did. It’s also important to look at what did sell during the same time period and what worked for those listings.

You’ll also need to regain the trust of the customer. I’ll step you through the actions you’ll take to show your client that you can build a new campaign that will get their property sold, and quickly.

Expired listings require a plan, and I’ll outline what you should be doing with any property that doesn’t sell on auction day. It’s best to avoid having listings expire in the first place, but you can sell that property if you know what to do.

Fast Pace Ep 75 – Business intelligence

This week on Fast Pace, Dean Mackie and Josh Phegan explore business intelligence and insights inside the data. They look at data driven decision making, fully utilising the tools you have, small moves that make big shifts, capturing customer moments that matter, combining data sources for fuller insight, and becoming aware of unconscious behaviours.

Founders S2 Ep 6 – Josh Phegan interviews Angus Ferguson from Domain Group

In this podcast, Josh Phegan interviews Angus Ferguson, Commercial Director of Agent Solutions at Domain Group. In this episode, they look at the real estate process and the tools to help agents move through the processes, from agency agreements to settlement. They look at the future of how people access technology and become aware of the different solution providers available in the marketplace, and the different problems Domain solves in the digital workspace.