Million Dollar Agent: Update

For those of you that enjoyed our Million Dollar Agent story last issue we have an update on how Edgar Natolo from Natgroup on the Gold Coast is going in his quest to earn $1million in commission this year.

How have things been going since January?

I remember when I set myself this challenge in November 2011 – I raised the bar for myself, and thankfully, momentum had already started to build. John McGrath said to me back in 2004 – “Ed, whatever is happening in your world right now is a result of what you did, or more importantly didn’t do 60 to 90 days ago”.

As of 1 January, with my preparation done, and prospecting well in place the stage was definitely set. How did that look? Great! My stock levels were sitting at 65 listings! That’s right, my assistant Clinton and I carry that on our own easily thanks to our systems and trails developed over the previous 90 days.

Sales for January were like an explosion, with new listings hitting the market, many campaigns starting and our interactive online magazine ramped up to include videos.

Buyers that many say “were non-existent”, seemed to appear from nowhere! Why? Because we had listings, and good ones. Buyer inspections were the highest we’ve seen for months and offers being made. This was a good sign.

By the third week in January the months target had been reached which was really exciting.

What have been your biggest challenges?

The end of January saw two challenges arise. Firstly, the market changed again. Whilst buyer numbers increased, they were sitting tight. The gap between sellers expectations and buyers perception was now even wider.

The time had come to be brutal and have crucial and direct conversations with sellers. The message: our price needs to meet the market where the buyers are or you just will not sell! Therefore, it was time for owners to make the decision – “adjust, or take your house off the market!”

This created the second challenge, which was homes coming off the market, and less people listing stock. Remember, to meet my goal it is about the numbers, and now I need to work a bit harder to get my seven listings per week.

What are your next goals?

I need to raise the bar another level, and add a third part time admin member to my business unit. This means that we can increase our prospecting area. We are refining our prospecting letters to a more direct, simple message, and it is working. Prospecting is the key. It always has been.

We are also implementing our six monthly CMA report. This is a prospecting tool Mat Steinwede had shared with me. The goal is to get this out to all people in my area over next few months, speak with them and get eyeball to eyeball. Essentially, it is a more refined version of the early preparation days, keep talking to past clients and buyers. Nurture and farm the existing relationships.

The important thing is we are aware of our monthly targets, analysing our results weekly, which keeps us all accountable. Other than that, it’s all about mindset and staying focused!

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