Million Dollar Agent: Update

After two years of tracking the market monthly through our sign counts we know we are entering into the busiest selling period of September, October and November. We have turned up our prospecting activities further knowing that sales will come from having the stock. As a result, we have seen three possible sales come from listings we secured the week before, confirming that we are entering a busier selling period of the year with time on market coming back to five weeks in many cases.

Just some quick numbers for the readers: we have listed a total of 104 properties for the year, with commissions totalling $697,000 and listings now coming from referrals, the number of signs in our area and the material we’re constantly sending out.

Here’s an interesting fact about properties that have been on the market for a long time: in the past, if an agent hadn’t kept in contact or sold a property within two or three months many sellers would seek another agent.

What we have noted and found to be the case in suburbs all over Australia is that sellers in this market seem to be more casual. They are not changing agents but just sitting it out, even if other agents are selling properties around them! Even more intriguing is that these properties are now receiving offers $50,000 to even $150,000 less than asking prices, and selling! So it seems that this is a market where you need to list properties and those happy to wait for you just hold them until the time is right!

So while I still walk away from any listings that I truly believe I cannot help, it may be time to develop a separate vendor management system for those happy to wait.

I am already in the planning phase for the next things I want to implement for my personal sales targets and even more so for the business expansion.

After doing some project marketing style sales, I really want to grow our strength and expand into that market. Having the large buyer reach and knowledge of all the different marketing avenues, I believe this is a part of great growth for my business and something that we can leverage with all our office divisions, such as re-sales and property management.

More than ever I have realised the importance of having a large, strong property management division to help when I want my time out next year! We are at the beginning stages of modifying the highly successful prospecting techniques, letters and so on used to gain over four listings a week into a system for gaining new managements. That’s next year’s project!

More importantly, though, one of the reasons for this challenge was raising awareness. To show people that it can be done in this market and it’s about systems and numbers which I have worked hard on perfecting so we can share. To that end, I want to expand the office sales team and have good, motivated agents who I can guide into making larger commissions in their careers, growing our market share and business on the Gold Coast. I want people to know that if they join our team, they are being led by someone who has charged into the battlefield, tested the systems and the letters and worked out exactly what it takes in people to be successful. I want the industry and my future sales team to know that I will be honoured to lead them onto their field of battle!

Focusing on bigger numbers means encountering even more interesting people! As part of my KPIs we focus on doing 20 prospecting calls and keeping in weekly contact with our hot buyer list, which is currently at 27.

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