Claudio Encina: We’ve got a special guest who spoke this morning, Matt Lancashire from Ray White New Farm. Hey, Matt. Awesome speech and presentation this morning.
Matt Lancashire: Thank you very much.
Claudio: And I’ve got some great comments from a lot of people. You mentioned the importance of a team. How many in your team at the moment and what are some of the roles that they all work in?
Matt: I have a team of four. So it’s myself, a PA and two Sales Associates. So my PA basically does all of the activities to make sure the administration’s done, the letter box dropping, the mail outs, marketing, all of that side is covered by her. So anything that has to do with dealing with, liaising with clients around marketing is done through Jess.
I have two sales Associates. One of them’s been around for a year longer. So he looks after my warm prospecting.
Claudio: Okay, would that be Josh?
Matt: That’s Josh.
Claudio: Okay, fantastic.
Matt: So Josh looks after my warm prospecting. So he looks after my pipeline of clients where they’re looking to sell within the next three to six months.
Then I have Jahkoda as well, who works and does all the cold stuff. So he’ll go in and he’ll look after all the people that are 12 months plus, whether it will be valuations and weekly reporting. I don’t any of that. All I do is the $500 an hour jobs, not the $25 an hour jobs. So anything that’s dollar productive, I’ll do it. So dealing with cold buyers, I don’t deal with that. I only deal with them when they’re warm, second inspections and closing deals. And vendors.
So, I’m the only one that deals with my vendors. I talk to them every single day. Most of them I’ll talk to them twice a day. So at the end of the campaign, they’re either sick of hearing from me or they’ll miss me.
Claudio: Yeah, exactly. We were just coming off listening to Bob Wolff and he was talking about getting out there, doing the things that make you feel uncomfortable. What dialogue would Josh have used in the beginning to knock on those doors?
Matt: He didn’t really have the dialogue. All his instruction was was to go out, knock on 50 doors and get 10 bits of data. That’s all I wanted him to do. On the first day, I wanted to test him to see how he would go. He didn’t do very well. He knocked on 50 doors and got zero. He got chased by a little old Italian lady with a broom.
So what I did was I took him through for a door knock and my dialogue to get his confidence up was, “Hi, Matt here from Ray White New Farm. We’ve just sold a property up the road, which is quite similar to yours. We’ve got a couple of buyers that we had left over. I was just wondering … If it comes to anything, you know, great. If it doesn’t, no worries. We’ll give you an evaluation on your house. We’d love to come through and have a look.”
And we got invited through the house and got the confidence. On that day, when Josh knocked on that door when it was raining, it was just a Sliding Doors moment where you press the doorbell, went to the front door. She was expecting another real estate agent. It wasn’t him. She said, “Well, I was going to deal with another guy, but you’ve presented yourself.” We went in, closed the deal and sold it for $5.2 million.
Claudio: And what was the commission again?
Matt: $132,000. One fee.
Claudio: Just from a simple door knock.
Matt: I get reminders like that all of the time from new agents that are in real estate. The fact that, even if I haven’t done the calls that I say that I’m going to do, the new guy in real estate will say to me, “Hey, mate, aren’t you meant to do 80 calls a day? You’ve only done 20.” And I’ll go, “Well, you know what? You’re right. Maybe I need to make my 80 calls like I’m telling you to do.”
And imagine the guy that was in real estate for two days – and I’m not talking two years – two days, walked in and got an opportunity to sell a river front home in the scariest market in Brisbane. And we listed and sold it. There’s so many opportunities that I can guarantee you, if a new person in real estate would just go out and knock on the doors and have no fear, their business would change. Guaranteed.
Claudio: You spoke about leverage in your presentation, which I loved. You know, how many times one person can lead to so many multiple transactions.
Claudio: For some of the viewers out there, around leverage. Any tips that you could give them?
Matt: So the leverage side of it, you need to leverage the listings. So you need to tell everyone that has comparable properties that that’s listed. If you can get them through, fantastic.
Then the second part of it is you need to leverage the marketing. So the marketing that we did we were able to go out to the masses. We got a number of people came through. A lot of the purchasers that came through may not have owned a property like that, but the ones that bought it also had a property that was a little bit lower
We were able to get that business straight off the back of that, which then, when it came to do the listing for their house, they said to me, “Ah, Matt, you know, obviously we saw it in the paper.” That gives me that next little easy, easy dialogue to say, “Well, if you’ve seen it in the paper, the next person’s going to see it in the paper.” To leverage that marketing.
And then the third is you need to leverage the sale. So the result. So you tell them that you’ve listed it. They come through the property. You follow them up over time. You tell them how well you’re going. You sell it in a month and you say to them, “We’ve sold and broken the Brisbane record in a one month period.” And you need to leverage the hell out of that.
And the other thing is just doing it. I’ve lost a couple of listing this year. The feedback that I got was, “Someone else wanted it more than you.” I can guarantee you the one I got for Don O’Rorke’s, I wanted it more because I didn’t have it and I’d never had it and I wanted it.
You can’t get complacent in this gig. The moment you get complacent is the moment you fail. The thing about this industry, it rewards the hard working and crucifies the lazy. A young guy that’s been in real estate for two years with energy and enthusiasm can come in and beat the old dog nine times out of ten.
Claudio: Thanks for sharing.
Matt: Thank you very much. Cheers.