I’m live-blogging #AREC16 from the Gold Coast. Here are my top learnings from Alexander Phillips: Creating Raving Fans Beings with 6 Star Service.
Tom’s now introducing Victoria’s top real estate agent. Obviously my focus is on the overall business strategy, and while I don’t work with individual agents there’s definitely an overlap in their business strategy and what a Principal needs to do.
- 6 Star Customer Service is possible when you’re managing 20-25 listings every week. So it’s certainly possible if you have the agent average of 2-6 at once. It boils down to some of the best advice I’ve ever received and shared: “Tell the client what you’re going to do; do it; and then tell them you’ve done it.” The word Alexander is using a lot here – Expectations!
- Alexander has 4 assistants: one project manages the whole team and acts as the face of the business – this person needs to be reliable; the next two are similar to sales agents, and are charged with ‘getting 20 buyers for each property’ – think of them as buyers agent, and Alexander believes they get 20% more buyers per property as a result; the last one is the admin and sales assistant, managing other parts of the process including pre-listing kits, project managing things like minor renovations and staging, plus building inspections etc. Alexander offers all of these roles a roadmap to becoming their own agent, if that’s what they want.
- A lot of people are saying the market is softening – this comes back to qualifying and motivating the sellers. His team have higher average prices and lower days on market than the competition (you track that data for your office, don’t you?), and a lot of that comes back to asking the right questions of sellers and buyers so they know they’re ready to go through the process you are taking them through.
- Compression Selling – getting the most amount of people through in the shortest possible time. Linked to his Principal Ivan’s ‘Buyer approach’ from this morning, the whole office is incentivised to sell – abundance, not silos, and it creates more listings and outcomes all ’round!
- Energy Management. Love this – the team know their market’s annual cycle and stock levels. They plan ahead of the curve – plenty of time for holidays, especially heading into winter when they stop listing for a time but pre-book the Listings for when they return (ie, at a better time for selling for the client as well). Vanessa from inside80 would love this – something she does with many executives, and it means you are energised and focused towards the end of the year at a time when your competitors are often beginning to flag.
Alexander is a good speaker, and a great example of how a Sales Agent really does run their own mini-business with leadership, team-building, and culture/energy as part of it. The average real estate agent in Australia earns less than $80,000 per annum and never recruits an assistant. Those two are linked – not to each other, but to the higher mindset about growing a business not just earning personal income.
Our next speakers are Sam Guo and Julia Kuo – live blogged here.
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Jacob Aldridge is a co-founder and business coach at Real Estate Grow.
If you’re a real estate Principal looking for fresh ways to help you work on your business, let’s chat. Contact me on either 0427 151 181 or firstname.lastname@example.org.
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