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.

Changed Agents Award Finalist – Jeremy Hodder

Jeremy Hodder from Belle Property is one of our Australian Changed Agents Award 2018 finalists. He explains how he had to adjust to going from a secure job to pursuing a career as an auctioneer. Now, as a successful sales agent of 14+ years, he writes over $1.5 million a year. 

Jeremy Hodder has been close to “throwing it all in”.

“Rock bottom for me was when Sian (who is now my EA and is godmother to our first daughter Evie) was having to buy us groceries to get by,” he said.

Mr Hodder’s biggest career challenge was the transition from a secure job to pursue auctioneering as a 24-year-old with his first baby on the way.

“I went to Sydney to learn the craft of auctioneering. I was trying to build an auction culture in Wollongong, which was not traditionally an auction-based marketplace and was really struggling financially as a result of minimal auctions, not to mention the toll the travelling was having on me with then a newborn baby,” he explained.

It was at that point Mr Hodder decided to leave Sydney to go back to an agency. He said it was starting from scratch.

“I was determined to be the best I could be and determined to never feel like I did again. Josh’s training, podcasts, scripts and emails were an integral part of my “set up” period as I couldn’t afford personal coaching.”

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But it is all a far cry from where he is today.

In 2017, Mr Hodder was awarded REB’s number one regional sales agent in and he has been Belle property’s highest transacting agent for the past three years.

“I have had to make change happen on many occasions to get to where I am today. In the beginning, I took a huge risk to change my position and dedicated myself to making it work. Once I built some traction, I then made change happen with the start of building my team to build on my processes and increase the volume in my business. By being super consistent with my prospecting and BDA marketing, I was able to double my business two years in a row,” said Mr Hodder.

Last financial year, Mr Hodder sold 120 properties with an average sale price of $964.411.

He is now a principal of an office and takes joy in helping mentor other young agents and his team, all the while still growing his business.

Mr Hodder shared that he has always been driven and competitive.

“I was very sport focused as a kid and always thrived on being coached and improving at whatever I did.  I am a very caring person, very down to earth and I wear my heart on my sleeve, this is a quality that has always allowed me to build rapport with people quickly and genuinely.

These qualities and the ability to provide amazing and personalised service, whilst delivering outstanding results and also being very conscious and understanding of people’s needs and circumstances I believe make me a stand-out,” he said.

Ep 150 – Auction Day Success

In this High-Performance Podcast for Real Estate Agents, Josh Phegan and Alexander Phillips discuss assuring auction day success, beginning with asking the right questions of your buyers. Alex lists some examples of direct questions to determine pricing and advises getting preregistration. Josh addresses knowing who your support team will be on auction day, and they further detail the elements of a successful auction. Alex tells how he breaks the ice with the buyers when they first turn up and offers examples of dialogue.

Josh talks about getting the buyers focused on the outcome that they really want, and they weigh in on how to interact with the underbidders before they leave so that you can continue to work with them to gain a better result at their next auction.

Reversing Market Trends

Consumers want an agent that can sell their home around all the recent changes in market conditions, and they’re willing to pay higher fees for that result. My Coaching Tip this week is about reversing market trends by boldly adapting to what’s happening today.

A lot of agents panic when they see things shifting in their market. You need to know what to do when change happens to make sure your business continues to grow. I can tell you that a great business is built on the simple foundation of serving your customer by solving their problem.

So how can you put yourself in the front to make things happen? First, understand that people don’t turn up to open homes and make online inquiries about properties if they’re happy where they’re living. Next, don’t worry that there are fewer people coming through open homes right now and it’s impacting your lead generation. This is where a great agent will reverse the market trends.

First, start really working your buyer and seller hit lists. These are the customers who have already proven that they have a higher level of urgency than most. They have clarity about what their dissatisfaction is, about their vision and where they want to go, and they’re prepared to take those first steps.

Timelines are critically important in a shifting market. You have to stay ahead of upcoming changes, so you need to build a sense of urgency and even a little fear to create reasons around why your clients need to do certain things by a certain time. For reversing market trends, focus on your average sale price, the volume of transactions, and average fee. Adjust those numbers as needed and you’ll continue to grow in any market.

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

Changed Agents Award Finalist – Grant McConnell

Grant McConnell from Hocking Stuart is one of our Australian Changed Agents Award 2018 finalists. He shares how drastically changing his fitness and health routine paved the way for his success in the industry and helped smash his goal of writing over $1 million in fees.

Grant McConnell has made incredible changes to get to where he is today; one includes losing a massive 25 kilograms, which he believes played a huge role in becoming a high performing agent.

“When I’m fit, I’ve got more energy; I’m more alive and that comes out in me when I’m with my clients,” he said. Last financial year, Mr McConnell wrote $1.2 million, close to $450,000 more than the year prior while being mentored by Josh Phegan.

“There are so many things that resonated with me during our training sessions. Family is very important. You have to have that work/life balance and you have to be healthy to succeed. I decided I wanted to take my business to the next level and being healthy and fit was a big part of that,” said Mr McConnell.

Mr McConnell said if you are determined and have a solid work ethic, you can do anything well, but you can’t overlook the daily grind.

“You’ve got to continue to do those little things that make you a good agent. I am constantly following up leads, I dedicate time to prospecting session, I nurture relationships; it’s the stuff that we don’t overly love doing but you have to do it.”

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Mr McConnell has increased his sales from 58 to 70 in one year. His market share is now approximately 43% and his average commission went from $13,362 to $17,142.

“The addition of my PA has been amazing. I’ve obtained more appraisals and pipeline listings,” he said.

Implementing constructive change has allowed Mr McConnell to have more time with his family. He is married with two kids and plans his day to be home by .530pm.

“Getting fit and healthy makes me a great competitor, but also gives me the energy to come home and be there for my family.”

His biggest tip to agents wanting to increase business:

“You have to be well-liked. Be genuine. You do what you say. You don’t procrastinate. Trust doesn’t happen overnight and it takes a lot to keep it with someone you’ve just met. Learn a successful and honest nurturing process where you can build long-term trust with someone.”

Ep 149 – Serving the Customer and Not Just Writing the Fees

This High Performance Podcast for Real Estate Agents features Josh Phegan and Alexander Phillips live at AREC 2018. Today they’re talking about serving the customer and not just writing the fees. Alex advises having a long-term view and building a good name in the marketplace. Josh speaks to the importance of doing the foundations well, and they discuss the effect that confidence, social proof, and credibility have on your business.

Josh notes that good agencies do a lot of sharing of information, and Alex offers some examples of how his agency does it. They discuss the benefits of an “If it’s not simple, we don’t do it” philosophy, and building a culture of excellence based on service.