Ep 79 — Delivery of Service – What It Really Takes

This High Performance Podcast for Real Estate Agents features Josh Phegan and Alexander Phillips discussing delivery of service and what it really takes. Alexander describes Six Star Service and how it places you above other agents, and Josh notes the importance of the little things you do that make a big difference to the customer. They discuss the need to relate to people and the difference in emailing or calling a client. Josh talks about maintaining control of the conversation and Alexander tells how he achieves that.

They discuss ways to bring value to the table, get the timing right, communicate with confidence, be responsive to your customer, and Josh ends with asking the right questions to find out how you can provide your best possible service.

You Get What You Negotiate

Negotiation is a necessary skill if you want to become a great agent. In my Coaching Tip today I’ll tell you how you get what you negotiate, and take you through the steps to make that agreement between buyer and seller happen.

You need to understand the rules of negotiation beginning with making sure you’ve got all the information you need. This includes the purchaser’s name, solicitor’s identity, settlement timeline, deposit amount, express conditions and purchase price. The next step then is to identify how you’re going to negotiate, and I’ll tell you how to arrange to get an offer set in a way that’s legally binding.

Understand that the majority of negotiation happens in the first round. You want to right away get the buyer up into the price point where they need to be, and I’ll give you some examples of ways to do that. Avoid pivot pricing by getting the buyer to make their best offer from the start. It’s also crucial to get your timing right, and making offers with time limitations is an effective way to do this.

Specific performance is important in all negotiation, and that means getting specific things done quickly, in their proper order, and according to set time limits. You get what you negotiate, so be firm, be clear about expectations, stay in control of timing, and remember you’re negotiating not only around the numbers, but more importantly around the emotions that drive the deal.

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

 

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Ep 78 — Coping with Stress

In this High Performance Podcast for Real Estate Agents Josh Phegan and Alexander Phillips talk about coping with stress that comes with being an agent. Alexander tells how he helps his team members deal with pressure, and describes mechanisms he uses in his life and business to manage sources of stress. Josh suggests using lists to identify what’s putting pressure on so you can find solutions. He also offers perspective on what’s really important and what isn’t. They discuss how your diary can help you stay centered and present on the busiest days.

Josh tells how planning and routine reduces the number of unimportant decisions you have to make, and Alexander describes routines and systems he uses to reduce stress each day. Josh ends with the advice to choose what’s most important to do and only do those things.

Practice Like You Play

The key to confidence is to practice like you play so you can play like you practice. In my Coaching Tip today I’ll show you how to become a better prospector by getting great at listing, and how role-play will help you accomplish that.

Prospecting is your most primary task every day so you need to get that skill set right. Part of the challenge is shifting your mindset from pursuing right-now business to working with people you already know, and being there for them when they are ready to do something.

Your other vital skill set is the listing presentation, and that’s really critical to your prospecting as well. If you’re great at listing you’ll be much better at prospecting. That’s because you’ll know the right questions to ask and the most important information you need to provide the best service possible to your customer. And knowing what you’re doing from prospecting to listing will give you confidence when you get in front of that customer.

But how do you know how good you really are if you’re not getting feedback? It’s not a comfortable thing to hear that you need to do some things better, but it’s necessary. One of the best ways to get that feedback is through role-playing with your peers. Set a practice session with another agent, switch back and forth between playing agent and customer, record the session, and find out what you both need to fix in your listing presentation. Doing this with agents at your same level, in a safe environment and for just a few minutes, will give you the opportunity for an even exchange of helpful feedback that will make you both better agents.

This is how you practice like you play so you can play like you practice. To be a great lister you really only need to learn 15 questions and 5 trial closes. Getting that right changes the way you run your entire business and gives you a whole new level of confidence in your capabilities.

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

Ep 77 — Accountability

This High Performance Podcast for Real Estate Agents features Josh Phegan and Alexander Phillips discussing the need for accountability and why agents struggle with it. Alexander talks about how he maintains focus and motivation through measurements, and practices accountability in communicating with customers. Josh notes booked appointments as a key measurement, and tells why accountability partners are helpful. Alexander explains how to set goals and make the achievement of accountability less daunting.

They continue with the influence of consistency in the number of open for inspections as a significant lead generator. Josh sums up by detailing how to reach that necessary number of opens each week for accountability.

The one number you need to track

There’s one key number that will tell you how well you’re going as an agent, and that’s how many appointments you’re booking each week. In my Coaching Tip this week I’ll show you how we develop as agents and what you can do to grow your success more quickly.

The reality is that you’ll only book 3 appointments a day, but you need to get to that number consistently to reach a target goal of 60 appointments a month. When you’re just starting out in real estate you work buyer appointments selling stock made available by all the agents in your office. A lot of those buyers are also going to be sellers. From there you progress into market appraisals, and then into listing appointments.

Your diary will reflect your progress as your 60 buyer appointments per month begin to include more market appraisals. Then you’ll start booking progressively more listing presentations. But the core number you want to keep tracking on is appointments per month. The more of those that are listing presentations, the greater success you’ll realise.

Part of how we develop as agents is our drive to succeed. If you’re having a bad week and not getting those bookings you need, simply make a commitment every business day not to go home until you’ve booked 3 appointments. Exercise that hunger to win and you will become a great agent.

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

LSN Take 5 with … Michael Klim

Eternal hunger – it’s what you do after you’ve won, after you’ve ‘made it’ that determines the type of person you become. Arguably one of Australia’s great swimming success stories, he’s seen it all. From the triumph of winning Gold at the Olympics to life out and beyond the pool, where he’s found a new level of success as an entrepreneur behind the MILK Skincare range. Michael brings commitment, energy, drive and hunger to the game, even after reaching the perceived pinnacle of his career. He’s no stranger to overcoming
adversity, tough competition, training and living life on the road. He will be speaking at the List Sell Negotiate event on November 11.

 

What’s the best piece of advice you’ve ever been given?

It’s nice to be important but it’s more important to be nice.

What does success look like for you?

For me, success is a perfect work-life balance.

How do you stay hungry and inspired to achieve more?

As a person I always strive for further growth personally and professionally so with that mindset it allows me to enjoy and recognise present achievements but it drives me for further growth.

What’s the best thing about the real estate industry?

The best thing about the real estate industry in my mind that you create and deal with something tangible and of meaning.

What one thought do you want to leave LSN attendees with?

I would like to share my 5 simple keys to achieving success in all facets of life.

// Learn more about this year’s List Sell Negotiate event at listsellnegotiate.com.au

 

Ep 76 — Adapting to Fast and Slow Markets

n this timely High Performance Podcast for Real Estate Agents Josh Phegan and Alexander Phillips discuss adapting to fast and slow markets. Alexander tells some of the ways he stays successful in either marketplace, and Josh describes 3 types of motivation and explains how to understand them. Alexander adds the importance of clarity in order to be a good advisor. Josh details planning your year and working ahead so that you’re not pushing hard in December.

Josh tells how to maintain hunger and determination to list consistently so you’ll sell well. Alexander advises listing ahead of the curve and maintaining maximum exposure. Josh ends on planning, taking action and reading the rhythm of the market.

How We Learn

The best way to learn is to get clear about what you want to learn. My Coaching Tip today is about how we learn, because once you understand the process you can learn faster, learn more and teach others more effectively.

When I’m teaching someone a new skill set I look at something I call a job scorecard. As an example, let’s say a new buyer’s agent needs to learn how to run an open home, do an open for inspection callback, and do a just sold call. I’ll schedule those specific skills in the scorecard, beginning with running a great open home. When training is done for that skill we then do an assessment on what the agent’s learned. If they pass then we move on to the next skill set on the schedule.

The key is having all of these necessary skill sets clearly mapped out in a training system. The result is that trainees learn a lot faster and get exposure to the forms, checklists, and systems they’re going to be using. They get a much better start toward becoming a great real estate agent.

Knowing how we learn and using the job scorecard to track training and progress also helps you clearly see where your deficiencies are as well as opportunities for improvement. You want to be able to grow great people and a phenomenal team whilst always working to become a better agent yourself.

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

Job Scorecards

You’ll always have great people in your business if you learn how to make them great. The unfortunate thing that usually happens when you bring in a new hire is that training drops as soon as you start to scale. In my Growth, Leadership and Management Tip today I’ll tell you about the job scorecard we use in the Josh Phegan Company and how you can benefit from using it.

There are important skills you need to train specific individuals to perform, and it’s always better to use a system for that training. Our job scorecard lists these required skill sets for each person. You prioritise the order you want the skills to be taught and then schedule training. Teach each skill until that person appears to have it down, then test them and assess their performance. When they can perform that skill correctly you can use the scorecard to start training the next skill.

It’s key that your enthusiasm doesn’t get deflated if someone doesn’t get a skill set down their first time through training. Your job is to help them become great, so be willing to give them the time and support they need to succeed. By using the job scorecard you’ll be able to systematically make progress and see results by doing those assessments and keeping score.

I hope you’ve enjoyed this Growth, Leadership and Management tip, and I look forward to seeing you here again next month.