LEADERSHIP
-
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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,…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
Follow the Leader
In the most recent leadership spill Kevin Rudd managed to regain his title on his terms. Jason Hellyer draws some parallels between the recent political leadership spill and how agents should demonstrate a similar resolve with vendors. People seek leadership. Throughout history this has always been the case and I doubt it will ever change. Just last week I sought some…
Read More » -
Get There Faster
John McGrath, Chief Executive of McGrath Estate Agents, says “Ignore the economy and your competitors, and focus on what really matters” There are only two places you can be in your business – on track or off track. Nowhere else. The same can be said for the rest of your life as well. Where are you today? On or off…
Read More » -
Best of the Best
As the owners of most businesses, regardless of size or industry, the staff members that you employ, train, manage, and retain are easily some of the most valuable assets that you have. This is certainly the case in the real estate industry where companies are represented out in the field by their sales agents – with the quality and dedication…
Read More » -
Are Leaders Born or Made?
Bradley Brown, CEO of Fletchers, tells his story about how he became a management leader. I am using the term management leader to refer to the path I’ve chosen, which is to be a leader in the business environment. We continually read theories from a range of writers on what makes a good leader, what leaders do, or how you…
Read More » -
The Future of The Shopfront
In what appears to be an era where agents are reconsidering the traditional shopfront, Stacey Sheehan discusses why it remains of utmost importance. In 2002 a new CEO was appointed to AMP, Australia’s largest superannuation fund manager, to navigate it through a corporate crisis that some viewed as terminal. He was noted to say at the time of embarking on…
Read More » -
The Butterfly Effect
For every action, there is a reaction. Douglas Driscoll, CEO of Starr Partners asks the question, “As real estate agents, do our actions lead to the desired reactions from our customers?” It is said that it can take a lifetime to create a great reputation, whereas it can take just a second to shatter it. One small misdemeanor is often…
Read More » -
The Next Generation
Phil Harris tackles the challenges of a diminishing workforce and how to get the best out of younger practitioners. We all know the Australian housing sector is still recovering from the effects of the global financial crisis and while there has been much talk around affordability, interest rates and building issues there hasn’t been enough emphasis placed on the massive…
Read More » -
From Getting up to Setting up
Have you ever thought about setting up your own Real Estate office? There are lots of things to consider, whether it’s joining a Franchise, or going it alone; operating from a shop-front or elsewhere; plus how to start your sales business and your rent roll. Kirsty Dunphey – Real Estate Entrepreneur, speaker, author and Telstra Business Woman of the year,…
Read More » -
Recruit, Train & Keep Match Fit
What are the key things you should be doing to find and retain the very best sales people for your agency? Here are some ideas from Peter Gilchrist to make sure you find and retain the best new sales people for your office, every time. What are the key things you should be doing to find and retain the very best…
Read More »