Ep 154 – Dominate Your New Market

In this High Performance Podcast for Real Estate Agents Josh Phegan and Alexander Phillips discuss ways to dominate your new market by building market share. Alex describes what his agency is currently doing in their newest market. Josh advises playing to your existing strengths and getting to know your new market area by spending time there. Alex adds the effectiveness of using your market knowledge and data in the right way and building on it from there.

Josh emphasises getting the intention to own the new market, and Alex details how dominance is built one step at a time. Josh adds choosing a marketplace that’s big enough for your aspirations and remembering that each new market leads upward to your next.

Make it easy to say Yes

Great questioning and dialogue leads the customer into a position where saying yes is natural. In my Coaching Tip today I’ll tell you how to make it easy to say “yes” by phrasing questions to your customers in a way that shows you understand what they want.

Start by thinking about the important conversations, like the listing presentation. I use a technique called “That’s Right” where I summarise everything I’ve discussed with the customer. The more I can get the customer to say “that’s right”, the more they know that I get them about their needs and their situation.

I’ll give you an example of one agent’s winning fee negotiation dialogue. His customer was deciding whether to go with him or another agent. He won the listing by using a simple methodology based on the question, “if you get what you want, can I have what I want?”

Getting people to say “yes” is about meeting three things: the unidentified, unsatisfied, and unmet needs of the customer. If you can identify, satisfy, and meet those needs, you change the value proposition. At the point where they’re ticking the boxes and saying, “Yes, yes, yes,” you’ve won.

A lot of agents concentrate on fixing the wrong problems, and that can result in the customer asking you questions like, “How long have you been doing real estate?” If you get a response like this from the customer, it’s because you exhibited some behaviour or action that looked out of place. Most likely, you asked the wrong question.

Great questions reveal a completely different conversation and ultimately make it easy to say yes. Once you learn how to ask the right questions you can lead people to say “yes” to you naturally. Help them to get clear about what success looks like for them and they’ll feel confident that they can make easy decisions with you.

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

Ep 153 – When Deals Won’t Come Together

In today’s High-Performance Podcast for Real Estate Agents, Josh Phegan and Alexander Phillips are talking about what to do when deals won’t come together. It’s a common occurrence, and Alex shares some of the things he does to understand the problem and deal with it. Josh adds the importance of outcomes over positions in negotiation. They then discuss how agents need to filter communications between seller and buyer, and the necessity for buyers to get pre-approval in the current market.

If you’re in a locked deal Josh advises seeking input from a coach or another agent to get a fresh voice and point of view. He also reminds us to make sure you’re really listening and addressing what your client actually wants out of the deal.

Champions are good at the Basics

If you think about it, the entire goal of what you do at the office every day is about getting on the phone. That’s because getting on the phone is what gets you the appointments. My Coaching Tip today is about why champions are good at the basics because that’s what gets the results and the outcomes we want.

You’ve got to start making better decisions about what you’re doing as an agent to drive the activities that actually work. Too often we’re trying to solve the wrong problem instead of looking at what’s already working and doing more of that. Get a formula that’s going to work for you so that you feel like doing it more often.

The best in the business hit that higher level of success by getting the most out of every call and making sure they’re helping the customer to move forward. And that starts with getting yourself into a position where you’re energetic and driven.

Great agents focus on the behaviours and activities that lead to success, and they schedule those activities so they stay consistent and reliable. Be decisive in your actions, but if what you’re doing isn’t working, then adapt boldly and shift. Find new methods and technologies that will get you in front of more customers and lead you to the results you desire.

Champions are good at the basics because they’re also good at knowing what they want and doing what it takes to get it. They’re willing to look at the things that aren’t working and eliminate those preventable errors that can cost millions of dollars in fees each year.

What you need to do, then, is strip it all back to the basics. Get back to doing 45-minute call sessions. Get back to booking three appointments a day. Use the systems that work consistently and set you up for success. And keep fuelling the energy you need to get everything you want out of your career.

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

What drives your people?

The secret to building a quality business is in knowing what drives your people. In my Growth, Leadership, and Management Tip this month we’ll look at why you need to take care of your people and understand why they’ve chosen to work inside of your organisation.

Your first challenge is in creating an environment for success. People join your firm because they’re looking for someone who can offer a vision that inspires them, an environment that supports them, and a place where they can be successful as real estate agents.

As a director, your job is to set that environment up and to do that you have to know those fundamental drivers. Whether your people want a great family life, or asset accumulation, or a Hawaiian vacation, work needs to be meaningful and people need to love what they do.

You can add fuel to that fire with regular reminders to keep them clear about their vision, like, “People who go to Hawaii make phone calls. They book appointments and they get listings. People who go to Hawaii make sales.” Give them that nudge as needed because this action leads to that result, and that gets you what you want.

When you’re energetic about what you do and you love to help your people, then you change as a director. You need to look after your people. Get clear about what drives them and remind them of it daily. By helping them take action and get the results they want to achieve, they, in turn, help you to achieve what you want as a business owner.

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 152 – Protecting Your Margins in a Shifting Market

In this High-Performance Podcast for Real Estate Agents, Josh Phegan and Alexander Phillips discuss protecting your margins in a shifting market, especially when some competitors are including marketing and styling with their fee. Alex advises selling yourself based on proven benefits you offer that others can’t. Josh notes how vendor investment creates motivation, and they continue around the Australian vendor-paid marketing model in contrast to marketing standards in other countries.

Josh explains reach and frequency of marketing programs, Alex elaborates on how quality marketing positions your brand in the marketplace, and Josh wraps up with the importance of selling the marketing that will attract the most interested buyers.

How to clean up your database

What would happen if you started ringing every single person who’s already in your database? In this Coaching Tip, I’ll show you why you don’t need another customer if you simply learn how to clean your database so that you can actually use it.

A lot of agents are afraid of the database because it’s not categorised. They don’t know who those contacts are or have all the information they should have about each entry. If you really want to get your business to move then you need to get these things cleaned up, organised and accessible.

Your database is built from buyers you’ve already met at an open for inspection, or after an inquiry from the real estate websites. With this in mind, you can just call them up like you would any other buyer. If you’re afraid you don’t know what to say, I’ve got you covered there, too.

I’m going to give you some basic dialogues that work for initiating the call, asking if the customer has bought yet or is still looking, inquiring about property management needs, offering relevant services, and finding out if they’re planning to sell.

What you’ll begin to see is that real estate dialogue is simple. Each question leads to the next, this leads naturally into that, which quickly leads to a solution you can provide. It’s a foundational formula and yet too many agents are missing millions of dollars in fees by not doing the little things that set you up for future success.

Learn how to clean your database and make those basic calls. You’ll quickly discover how simple, easy, and effective it is to just get on the phone and talk to the people who are already with you. The agent that wins is the one who knows exactly what to say to identify the problem that the customer needs you to solve. That is what great agents do.

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

Ep 151 – Solo Agents and Team Builders

This High-Performance Podcast for Real Estate Agents features Josh Phegan and Alexander Phillips talking about the place of solo agents and team builders in the industry. Alex weighs in on deciding what you want and which way you want to go as there is a place for both approaches in real estate. Josh notes fee production as a determinant, and they continue around how to meet consumer expectations in either position.

Alex details requirements to define and meet the level of service you set for yourself and relates an example from his own business. They discuss the advantages of multiple listings, and Josh details elements to consider in planning your business model.

How do you know when you’re Winning?

You want to be successful as a real estate agent, but what does that success look like for you? How do you know when you’re winning? In my Coaching Tip today I’ll give you the tools to answer those questions through measurable results.

To become a great agent, you need to design your business around the lifestyle you want to lead. This could include building an asset base, or having a great family life, exciting experiences and holidays you can enjoy. These are the outcomes you should always have in mind in order to feel purposeful and driven when you come to work.

My own basic philosophy is that every single minute you’re not in front of a customer is another minute that you’re not enjoying those things you really want to do in your life. Make sure you’re being highly efficient and effective around what it is that you’re doing.

In our 30-Day Intense Coaching Program, we have people do a call session every day for the first week. The second week they do two call sessions a day, and three call sessions a day in the third week. By then the momentum in their business has shifted because they’ve learned what really counts and what can be stripped out.

Think of a day you’ve had when you felt highly productive, you really had clarity and great things were happening for you. Now, break that down beginning with the 24 hours before that day. How were you doing with diet, exercise, sleep? What might have inspired you? Most likely you did something that helped you to get out there and achieve your potential.

So how do you know when you’re winning? You’ll start to get clarity around what your goals look like so you can achieve them. Once you feel like you’re winning you’ll do more of the work that produces more income, which gives you more choices and more of what it is that you really want to get out of life.

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

Changed Agents Award Finalist – Josh Saliba

Josh Saliba from Soames Real Estate is one of our Australian Changed Agents Award 2018 finalists. He shares how missing more than a dozen listings in a row helped him pinpoint the issues in his business and make change for the better. 

“Having a great team is what has separated me from my competitors.”

Josh Saliba’s biggest achievement is becoming the licensee of the office he works in – a business that was set-up more than 50 years ago. “It’s been a privilege to take over from someone who has built such an amazing culture,” he said.

But it has been a challenging ride to get there. Mr Saliba described how he hit “rock bottom” in early 2017.

“I had missed 15 listings in a row and it was at that point I knew I had to change what I was doing. I decided to do one-on-one training with Josh Phegan. We worked out that I was doing all the call sessions and the hard work, but I was taking things too seriously; I wasn’t smiling and having fun with it.”

Mr Saliba said the sessions changed his life.

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He discovered a lot about himself and what he needed to do to grow his business.

“Creating a team was something Josh had suggested, so I decided I was going to go all in – I put every dollar I was making back into the business. I wanted to provide a service that no one else could and, to do that, I had to share the workload,” he said.

In building the team, Mr Saliba decided not to put himself first. “When I pitch the business, we are all on the same level. Some in our team do things better than me,” he said.

Last financial year, Mr Saliba had an average sale price of close to $1.3 million, writing $700,000 in fees, around $200,000 more than the financial year prior.

“One thing I pride myself on is being consistent. I am high energy and am constantly wanting to give back.
I confidentially can say I have one of the best teams. I recently got married and went away on my honeymoon for four weeks. I was worried about my business, but when I got back, I had no work to do!”

Making sure his team is healthy and happy is top on Mr Saliba’s priority list.

“I’m trying to let the others be ahead of me. I want to build people up and be a mentor. That’s what satisfies me more than listing and selling,” he said.