Ep 62 – Shifting to a Higher Price Point

This High Performance Podcast for Real Estate Agents features Josh Phegan and Alexander Phillips on how to handle the shift upward to handling higher price points. Having confidence in your systems and processes is Alexander’s first point, followed by hunger and motivation. Josh notes that higher-end clients are actually easier to work with, and Alexander elaborates on what they really look for in an agent. They discuss anticipating the client’s needs and being ready to present great ideas before they ask.

Josh notes negotiation points and Alexander adds that thinking of percentage rather than cash is helpful for agents new to dealing in that higher price range. They end on gaining confidence and social proof as you progress upward.

Sell Every Property You Take to Market

The thing that makes an agent great is understanding what it takes to sell every property you take to market. It’s more than photographing homes, working opens and showing up to auctions. In my Coaching Tip today I’m talking about being in control of timing and process, and making the most of your opportunities whilst you have them.

Build and use your buyer hit list. Those buyers who lost out on a property with you before are motivated to win the next one. But you want to get them through the home before it goes live, because once that listing hits the major real estate websites you’ve lost your negotiation power. Present the home beautifully and, more importantly, present the desired lifestyle that home represents.

Use a little compression selling to raise the buyer’s sense of competition and fear of missing out again. If they make that early offer you’re ready to negotiate. Then you need to decide whether to sell prior, go forward into the marketplace, or go to auction to get the best price possible. That decision needs to be made on a case-by-case basis. Your ability to make the right decision consistently and quickly, and sell every property you take to market, will make you a great and in-demand agent.

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

Ep 61 – Becoming a Great Re-order Business

In today’s High Performance Podcast for Real Estate Agents Josh Phegan and Alexander Phillips focus on becoming a successful re-order business. They tell how they’ve each handled some properties 2 or more times by taking care of past clients and maintaining those relationships over time. Josh notes the need for consistency, and Alexander talks about contacting the people you know near every new listing and Josh notes how that can lead to a zero-competition listing. Alexander lists some advantages of being the known agent and trusted advisor, and Josh advises being a great connector of people.

Josh tells why you want to list some properties in the aspirational price range, and how being a full-service firm changes the way you run your business. Remember each customer is 4-dimensional and thus a potential repeat client.

The Fundamentals that Count

What you’re doing right now will determine how well you do in the months ahead. It all comes down to being great at the fundamentals that count, and in my Coaching Tip today I’ll show you what you need to focus on most.

The best barometer to your success is the number of appointments you meet each month. I want you to look at your diary for the past month. Have you been as busy as you thought you were? Probably not. Set a goal now to book 3 appointments per day, and categorize them so you can track their effectiveness.

I use codes to track how many bar appointments (BAP), listing appointments (LAP) and market appraisals (MAP) I do each month. If you keep a digital diary you can search those items easily. Tracking your numbers of appointments this way allows you to see how they directly affect your listings, sales and income. And that impacts your results for months to come.

Think of it this way: If you’re having trouble just getting face to face with customers, who is going to want to use you as their agent? Don’t just focus on dollar productive appointments because you’ll miss out on opportunities for generating referrals, building relationships and being the trusted advisor people come to when they’re ready to buy or sell property. Of the fundamentals that count, those 3 appointments a day are crucial to your business success.

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

Ep 60 — Charging What You’re Worth

In this High Performance Podcast for Real Estate Agents Josh Phegan and Alexander Phillips tell how to make sure you’re charging what you’re worth. Discussion begins around how to judge your worth and set your fees accordingly. Alexander cites market share, consistency and results as measurable proof of your expertise. Josh tells how differentiation leverages price, and they discuss knowing where the customer is and what they need to see. Josh describes the fee approximation close, and Alexander tells how he sets his sliding scale fee base. Josh then talks about fee defence, negotiation, and percentage vs. dollar amount.

They discuss the reality that you won’t win every customer. Alexander and Josh list some key actions you can take to secure the listing if at all possible, and points of consideration around how to address the client’s needs.

Your most Important Marketing Tool

Taking care of your customer’s needs is the most important marketing tool you can employ. There’s no competition when you’re the best, and in my Coaching Tip today I’ll show you how to get referrals from satisfied clients by being their best agent.

Cold calling and knocking on doors is harder work and more time consuming than simply providing great service to every client whose property you list. Focus on getting the property prepped and sold quickly, but don’t stop there. Follow up with call-backs at intervals after the sale and make sure your clients feel well taken care of. Every satisfied customer represents at least two future referrals.

Learn to anticipate your customer’s needs before they even know they need you. Start taking care of those details for them right away. Be there to help them with things like insurance, utilities, and mail redirection. Show them you care by delivering six-star service, going above and beyond, and doing what you say you’ll do. Be their trusted advisor and friend in the business and they’ll tell their friends and family good things about you.

Putting yourself in your customer’s place and being there for them really is your best marketing tool and will establish you as the great real estate agent you want to be.

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

Ep 59 — Six-Star Service

This High Performance Podcast for Real Estate Agents features Josh Phegan and Alexander Phillips on how to deliver the highest customer service. Alexander says caring about clients and working hard for them is key. Josh notes that six-star service is about delivering on your promises and being present to ensure your clients have an easier time with the process. Alexander reinforces this with a description of how he runs a Saturday. Josh speaks to the necessity of having an assistant to help take care of customers, and they discuss the importance of preparation in making sure everything runs smoothly.

They talk about about timing, intensity, and seasonal rhythm around knowing when to work hardest, and then go on holiday while the market is slow. They agree on building a great team so you can focus on the work that matters.

Communication With Vendors

You must maintain good communication with vendors if you expect to command their trust and cooperation. In my Coaching Tip today I’ll show you why it’s so important for you to keep your vendors informed around the work you’re doing for them every step of the way, and how to do it.

You might want to blame changing market conditions and stubborn vendors for disappointing results, but it’s more likely that you simply haven’t established rapport with your owners. Everything you do after listing a property will make or break your relationship with your vendors. It all comes to the level of trust they have in you, and that’s your responsibility to establish.

Your clients need to know what’s going on with the process of selling their home. Every time you take a step forward, give them a call and let them know what’s happening. It only takes a few seconds to call them up and tell them what’s been done and what happens next, but it makes a world of difference to their confidence in you to know that you’re actively working for them. Once you’ve built that foundation they will be more likely to accept your advice when it’s time to accept an offer on their home.

It’s also good to make sure your vendors maintain perspective on the marketplace beyond their own property. Give them news on similar properties in their area, days on market, buyers viewing homes, and final sale prices, to help them set reasonable expectations. Along with frequent calls, arrange for a few face-to-face meetings at your office as well to discuss business matters without distractions.

Always bear in mind that your role as an agent is to sell properties for the best possible price in the least amount of time. Your vendor has hired you to perform an expert service for them, and they want to be able to trust your judgment and performance. Your communication with your vendors will establish that trust and demonstrate your ability to uphold your commitment to them.

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

Communicating the Vision

You may have a clear vision for the future of your business, but your people may not have that same vision. If you took your team to climb Everest would you make it to the top?

Vision is made up of 3 components: purpose, mission and values. Purpose is beyond money and profit. It is defined by the outcome of what you do. In real estate purpose is about helping people grow and progress throughout their lives. And purpose is never achieved, it is perpetuated through every new person you encounter.

Mission is measurable and it’s a long-term pursuit. It can be based on numbers for sales, properties, employees, profit, and expansion. You can monitor those numbers in terms of weeks and months, but your vision needs to be projected to where you want those numbers to be after 5 years and beyond.

Your values form the foundation for your business and you maintain that through communication and consistent reinforcement of rules. My own foundational values are these:
1. We perform at our best in everything that we do
2. We believe in people and their dreams
3. We innovate and constantly improve
4. We renew our energy
5. We work free of time and space

These are the values that I make sure my people know and remember from day one. All hiring, firing and performance evaluation is based upon these values.

Like an Everest mission, your business success is based upon your purpose, mission, and values. As a leader you must set the example you want your team to follow. Be clear about your vision and stay the course so your people know where they are now and where they’re going inside of your business, and keep everyone working together as a team toward a common goal.

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 58 — Expired Listings

This High Performance Podcast for Real Estate Agents features Josh Phegan and Alexander Phillips on getting expired listings sold. Alexander covers some reasons why a listing might not sell the first time and notes challenges around getting it sold now. Josh reinforces the importance of knowing what went wrong with the first campaign and gaining the trust of sellers who have been disappointed. They discuss ways to improve marketing by really knowing your marketplace, and presenting the property more effectively than before. Josh stresses the importance of service through regular communication and responsiveness to your clients’ situation.

Alexander describes how to handle client expectations around pricing by focusing on percentage rather than dollar amount. Josh then emphasises the need to reassure client confidence by demonstrating effort, integrity and results.