LEADERSHIP
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Prepare For The Obstacles
We’ve all said it: ‘I’m going to start on Monday!’ This is the banner cry for people who are momentarily inspired to make some big changes, only to run into difficulties when Monday arrives. But if you prepare in advance for the obstacles that you may find in your way, you will be more likely to succeed. Chris Helder explains.…
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7 Things Top Principals Are Doing To Achieve Great Results
There are always standout real estate principals who are ‘smashing it’ in one way or another, regardless of whether it is a tough market or not. John Knight pinpoints what these top principals are doing that makes the difference in their business success. If you are a business leader or owner, clarity on what is working is just as important…
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Five Tips for Managing Virtual Teams
Virtual teams are an increasingly common part of the Australian real estate industry, thanks to the reduced overhead and limitless location flexibility they allow. Whether you’re going all-virtual or integrating one remote worker, the lack of in-person communication can be a challenge. With the right strategies, you can build a strong, productive team. 1. Integrate Video Conferencing For real estate…
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Would You Hire a Chef Without Tasting Their Food?
THE MOST IMPORTANT element of a real estate agent’s business is without doubt their ability to list a property. If we all recognise the importance of a professional and competent listing presentation, why do we totally ignore this when we recruit or head-hunt experienced agents? When was the last time you asked a prospective team member to do a role…
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The New Real Estate Business Model
TECHNOLOGICAL DISRUPTION means anyone – including vendors – can master the basics of property marketing. So the new value proposition for real estate will be agents as a coach, guiding vendors through a stress-free sales process. Kylie Davis explains. The traditional business model for real estate is being seriously challenged. It is no longer enough for real estate agents to…
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ARPM 2016: It’s a wrap
Here are a couple of tips of the week from ARPM 2016. ARPM 2016 once again, lived up to all of its promises and was full of great speakers including Lisa McInnes Smith, Fiona Blayney, David Thomas, Peter Knight and Matina Jewell just to name a few. We have got plenty of interviews and takeaways from the conference coming up…
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James Tostevin: Learn from Australia’s #1
James Tostevin, Director and Auctioneer at Marshall White, has been ranked Australia’s number one real estate agent in three of the past four years. Now after 30 years in the industry, he is using his wealth of knowledge, experience and skills to conduct seminars for other agents, designed to propel their real estate careers and help them achieve more, in less time. James…
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Fibonacci rules for real estate agencies
Dan Brown’s The Da Vinci Code may have been the first time you came across Fibonacci numbers, but according to Peter Knight of Property Academy who will be speaking at ARPM 16 in August the magical sequence discovered by Fibonacci in 1202 also applies to real estate agencies. Let me start with the sequence: 1,1,2,3,5,8,13,21,34,55,89,144,233,377… These numbers are typically the…
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Bridging the Leadership Skills Gap
THE PATH FROM salesperson to leader is often one huge leap with no middle management experience in between. Julie Davis and Neil Williams reveal how to overcome this gap and become a leader worth following. THE QUESTION of good leadership becomes more vexed in real estate because, more often than not, in our industry a career path is often salesperson…
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Five Ways to Keep Morale High While Growing the Team
IN LAST YEAR’S Elite Agent Reader Survey, many of you noted there were plans to grow the team in 2016. We all know this can be a challenge if you aren’t completely prepared. Experienced recruiter Virginia Brookes looks at how to grow while keeping team morale high. Some of the most common phrases we hear are ‘I’m thinking of putting…
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The Top 10 Mistakes of New Principals
John Knight from Business Depot looks how to avoid the most common errors when buying into or starting a new real estate business. I OFTEN FIND MYSELF (unfortunately!) advising new principals and picking up the pieces when things don’t quite go to plan. ‘Stepping up’ is an exciting time but here are some things to look out for. WRONG LEGAL…
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The Art of Managing Sales People
The measure of success is directly related to the level of ownership that is inherent in the business plan, plus the consistency with which you deliver it to your team. Focus on that and success will follow. Managing a team that openly approaches you with challenges and solutions is far less stressful than those who come with problems, no solutions,…
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8 Ways To Keep The Peace in Your Workplace
LOOK UP CONFLICT IN THE dictionary and you will read ‘a serious disagreement or argument, typically a protracted one, to fight or contend; do battle, or struggle, especially a prolonged struggle; strife.’ Any wonder why many of us avoid it like the plague. Why would we actively step into situations where pain will be felt and feelings will be hurt?…
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The Good, The Bad and The Ugly
When was the last time you had a “no holds barred” discussion about what is working and what’s not working in your business? John Knight from Business Depot has some tips for effective team workshops that will prioritise the your most urgent actions. Jim Collins was spot on when he said you need “the right people on the bus”. But…
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Sales Staff Pay-packets: What’s Working?
Enquiries regarding commission splits have well and truly jumped in the last couple of months. Many commission arrangements reset on 1 January each year, so now is a good time to reflect on the effectiveness of your current commission structure to drive your strategic objectives. JUST WHEN I thought I had seen it all with commission splits, another variation comes…
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Equity: To Share or Not To Share?
Exploring the idea of equity for key individuals in the business is today a common topic of discussion. While there are stories of success beyond expectations, there are also stories of epic failure. Equity is not the only option; before you do go down this path you need to be aware of the pitfalls and possibilities. John Knight explains. When…
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The Innovation Bell Curve
MANY PEOPLE THINK that embracing change and adopting innovation is a new thing made necessary by computers, mobile devices, Google and Facebook. Not true, says Kylie Davis from CoreLogic, the same challenges have been overcome by our predecessors. Like most things to do with human behaviour, the more things change, the more they stay the same. Understanding how people respond…
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New Financial Year, New Technology
Updating technology can improve productivity and provide new opportunities for your business. Alister Maple-Brown from Rockend explains. The phrase ‘End of Financial Year’ often brings a combination of dread, stress and fear to the minds of many business owners. Another year has rolled by and we are already in the midst of the new financial year. Was your tax time…
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It’s A Balancing Act
BELLE PROPERTY PERFORMANCE Coach Andrew Robinson suggests the best way to lead and motivate your team is by setting a good example which incorporates both building your personal business and spending quality time with your team. Successful agents andhigh-selling principals lead the majority of real estate businesses these days. Agents starting out need guidance and motivation, and they look to…
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Starting Small, Thinking Big
JOHN PERCUDANI OF REALMARK in WA looks back at the early days and forward to the next 25 years. GROWTH IS something for which all small business owners constantly strive. It’s something that provides the impetus never to rest on your laurels and continually to innovate, regardless of how well you may be doing. Earlier this year, Realmark celebrated its…
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Waste Not, Want Not: The Revolving Door of Real Estate
As a leader, your greatest assets are your time and your people. You need to make the most of both, say John and Stephanie McCloskey. WITH 80 PER cent of new entrants to real estate gone within 18 months, it seems that some businesses should just have a revolving door! The old approach of ‘you’ve got a desk, you’ve got…
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Grow Together, Grow Your Business
John McCloskey recalls the ‘shock’ of going from being a listing and selling agent to being a manager, and then principal of an agency. Gone was the constant drive for personal results, and in its place was a never-ending process of back-patting and encouraging others. What should you expect if you are planning the same move? THE MOVE from being…
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What Leaders Need To Do To Inspire Action
WHAT QUALITIES DID Martin Luther King have that our industry leaders need to adopt? Peak performance coach Tanja M Jones outlines the reasons why leadership in the real estate industry needs to get personal. HOW DID American civil rights activist Dr Martin Luther King Jr get over 250,000 people to attend his public address from the steps of the Lincoln…
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Could Your Cashflow Use A Boost?
WITH BANKS IMPOSING inflexible and restrictive lending criteria, it can sometimes be difficult to get cashflow for your agency at the times you really need it. If you are looking for a standby finance line or a working capital facility that can grow in line with your sales, Express Commission may be able to do what the banks can’t. We…
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Find your Business Rhythm
CAN AN ACCOUNTANT PREDICT your success in real estate? We can come close, says John Knight, who has studied the business management practices of top agents over a number of years. WHEN WE launched our business late last year our team of accountants looked to stretch the boundaries. We wanted to move out of our comfort zone and take a…
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Sustainability: A New Opportunity in Real Estate
IN THE LAST FEW YEARS, our politicans have contributed to the idea that sustainability is either too hard, too expensive or too complicated. Cecille Weldon, Head of Liveability Real Estate at LJ Hooker, says this is definitely not the case – agents who are able to demonstrate how sustainability factors can impact the value of a sale or rental property…
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Is Gen Y Driving Your Business or Driving You Nuts?
BRENDAN LAWLEY, CEO of Brad Teal Real Estate, looks at the impact of a younger workforce on the industry. How can we attract and retain the present generation into our business and have them perform at their peak? IF YOU’RE THE principal or office manager of a real estate business, it’s almost impossible to ignore discussions or commentary regarding Generation…
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Moments of Truth
Successful implementation of the company vision is a sign of great leadership. John and Stephanie McCloskey share how to turn your vision into reality, starting with an honest examination of customer experience. In our last article we floated the idea of a company vision. A great leader is one who can take that vision and turn it into something meaningful,…
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All Aboard!
Do you know where you’re going in your business, and do your team know which direction you’re headed? It’s up to you to provide the beacon for navigation with an agreed Vision Statement, driving the right types of winning behaviour in your team. WE LOVE the song Ship of Fools by World Party. It’s a reasonable commentary on how some…
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Contractor or Employee: What you need to know
WHETHER YOU are working for someone or running a business it is crucial to establish who is a contractor and who is an employee. Ursula Hogben, co-founder and Managing Director of LegalVision, discusses the topical issue of staff contracting arrangements. ARE YOU hiring new staff or checking your current staff arrangements? If so, congratulations on the growth in your business…
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Bring Out Their Best
John and Stephanie McCloskey discuss why a softer and more involved approach to management can lead to happier and more productive employees. AS A LEADER, if you want a thriving business today you must be much more involved in the growth of your people. Engagement and transparency are the new buzzwords where a collaborative team drives the business, based around…
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Four Steps to Twice The Accountability
WHAT GETS MEASURED gets done! Tony Rowe discusses how to keep staff engaged, motivated and productive with a simple four-step process for measuring success. MANY, MANY MORE set out on the path to success in this industry than actually make it. And while in some cases it can be lack of commitment from the person in question, sometimes it is…
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5 classic ‘fails’ of many business this year
Ross Elliott has some good advice for all small business owners this year; very relevant to maintenance of CRM systems and marketing for Real Estate Businesses. A new year awaits and prospects for economic improvement look good. Some businesses will grow, others will tread water, and some will fail. But more and more as I am involved with building business prospects…
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On the safe side
With all the recent news about serious instances of trust account fraud, we asked CEO of Property Training Solutions Guy Innes to give us some tips for Directors to ensure they stay ‘on the safe side’ and protect their trust accounts. Trust account fraud: its mere mention is enough to send a shiver down the spine of the most hardened…
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Lead, Transform, Innovate
You can’t transform your business without transforming your people, says Michael Sheargold. The key to growing and building your business is to focus on the right leadership and innovation. But if you look across the entire real estate industry today, there is a distinct lack of these two elements in most agencies, with principals increasingly looking to build or transform…
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