LEADERSHIP
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Strategies to reduce your break even point: John Knight
In the last month’s article, we talked about the one number every business owner needs to know – their breakeven point. Once you know your breakeven point, what do you do about it? Irrespective of how your specific market is travelling, the lower your breakeven point, the lower the risk in your business. The lower the risk in your business,…
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Purple Rain: 7 marketing lessons for any business
Purplebricks spent roughly 900 days on Australian soil, reportedly spent roughly $200 million in marketing, yet couldn’t make their business model work. With my marketer’s hat on, here are what I hope are seven useful and practical lessons we can all take away from the experience. 1. There is no point branding unless you can convert Homer Simpson can’t live…
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Finding your break-even point to make better business decisions: John Knight
In business, there are hundreds of numbers you could be tracking and the key is to know which one to focus on at the right time. Recently we’ve had a number of discussions with clients where they have expressed concerns about whether or not they should cut costs in their business. ‘Is it time to batten down the hatches?’ ‘We…
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Pareto people: Sarah Dawson
What do the humble green pea and real estate have in common? The Pareto Principle. The brain child of Italian philosopher and economist Vilfredo Frederico Damaso Pareto, the concept evolved from his observation that 20 per cent of the pea plants in his garden generated 80 per cent of the healthy pea pods. Commonly known as the 80/20 rule, the…
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Great expectations
Have you ever asked yourself, ‘Am I expecting too much?’ It’s a question principals and lead agents ask frequently. It usually comes up when they are frustrated, disappointed and the performance and follow through of their team members has let them down. It’s rare that the leader’s expectations are too high. Instead, there is often a gap between the expectations…
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50 lessons that will make you a better leader
The Leadership Diaries, an exclusive set of Elite Agent podcast interviews, turns one next month. Over the past 12 months, and with much more still to come, we’ve discovered leadership is a skill, an art and an essential ingredient for your business to achieve growth. To celebrate the milestone we’ve put together, in no particular order, our top 50 tips…
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‘Together we will succeed’: Owen Wilson
Owen Wilson stepped into the top job at realestate.com.au in January – amidst arguably the worst downturn in the property market in the past 10 years. With an uncertain year ahead and global players such as Facebook making their own plans in real estate, Wilson’s overall philosophy is that it’s time for REA Group and agents to work together for…
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What are your agents worth? Andrew Acton
In 2017, the Macquarie Residential Real Estate Benchmarking Report found the national average commission had slid from 2.6 per cent in 2009 to 2.18 per cent in 2016. Meanwhile, agencies were ‘looking to get more value from their investment in salespeople’. How can I help you? As a second-generation real estate agent who has experience building both franchise agencies and…
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On her own terms: Michelle Kerr
From her newly opened agency in Nedlands, WA, Michelle Kerr says she never expected to become a real estate agent. Rather, it was a career she fell into that ultimately saw her thrive. “I had a long history of property development and renovations,” Michelle explains. “I enjoyed 15 years of buying and selling, and saw the best and the worst…
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Independent contractors and the tax man
Everyone wants to recruit and grow their team, but for many the costs and risks associated with adding more employees are prohibitive. While it may seem like an ideal solution, entering into independent contractor arrangements is fraught with danger for both the business owner and the contractor. Even before we worry about the industrial relations risks, the main tax risk…
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Message received: Sarah Dawson
As a manager, leader or business owner, it is important to ensure that you consider the impact your messaging will have every time you have a conversation. This is not just in a group session, but also one-on-ones, networking events, peer-to-peer catch-ups –in fact, in every interaction there is impact in message delivery. This is especially so when it comes…
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Is now a good time to start your own real estate agency?
After a few years, many agents dream of starting their own real estate business. Independence allows you to make business decisions and, in the process, grow in confidence. However, many real estate agents struggle to work out the right time to leap into freedom. Right now, with a softening market, it can be daunting for those of you considering to…
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What are the real costs involved in funding a startup?
As a sales agent, you’re one of the best! You’re winning awards, have a dominant market share, lead a small team and the cash is flowing. So what’s next? John Knight looks at the costs of starting your own office.
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Rent Roll Myths Busted: Mark Sinclair
Mark Sinclair of Realestimations examines some of the common myths around the buying and selling of rent rolls, especially in a cooler market.
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How a recruiter can help you build a stronger team
The generalised reputation of recruiters enters a room well before the consultant does. In fact, the taglines ‘no recruiters please’, ‘we aren’t using recruiters any more’ or ‘thank you, we will contact you if we don’t have any luck’ are often the first words we see on advertisements when job hunting. The reason for this is that there’s a mistrust,…
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How and why you should be measuring leadership success
Leadership in real estate is not just a business journey; it’s also a personal one. Together they are like intersecting rollercoasters: do you strap yourself in, fuel up for the long haul, learn better navigation, get your mind clear of distractions, or stay focused on the road ahead? In fact, you need to do all this and more. In every…
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How to secure a tax-free business sale
It is not often as an accountant that I can tell a client they have no tax to pay on the sale of their business. For many real estate agencies, however, that is exactly the case thanks to the Small Business CGT (SBCGT) Concessions. It doesn’t matter whether you are selling all of your business, part of your business, units…
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How to create the right leadership atmosphere for your team
I visited a different gym a number of months ago; the weights were all over the place, nothing was put away and there was little or no respect for the equipment. As I walked out it became quite easy for me to act in the same fashion as every other member. The environment was setting the tone. Conversely, the gym…
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7 ways to boost your leadership skill set
We often hear about different forms of leadership – inspirational leadership, motivational leadership, innovative leadership and leading-from-the-front leadership. Leadership is many things, but in essence it all comes down to this: a leader provides a pathway to help others expand their thinking, challenging their beliefs and attitudes about what’s possible. Leadership allows others to own their contribution, which boosts confidence, growth and…
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37 lessons to 10x business growth
Before its acquisition by US powerhouse Douglas Elliman, California’s prestigious Teles Properties experienced 10x growth in just five years. Realising success leaves clues, Sharran Srivatsaa summarises a decade of learning into 37 actionable takeaways.
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How to build a team that will support success: Cathy Richards
In a five part series we caught up with some of the keynote speakers ahead of TBORE 2018 to find out more about their businesses, where great ideas come from and how they onboard new team members. Part five features Cathy Richards of Place Estate Agents.
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How staying curious can boost your business: Nick West
In a five part series we caught up with some of the keynote speakers ahead of TBORE 2018 to find out more about their businesses, where great ideas come from and how they onboard new team members. Part four features Nick West of Nelson Alexander.
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How to turn your passion into great leadership: Emily-Jane Megraw
In a five part series we caught up with some of the keynote speakers ahead of TBORE 2018 to find out more about their businesses, where great ideas come from and how they onboard new team members. Part three features Emily-Jane Megraw of LJ Hooker Nerang.
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Olympian Anna Meares inspires at Connect 2018
Eleven-times world cycling champion and Olympic Gold medallist Anna Meares offered an inspirational perspective into the mindset and physical stamina required of champions when she presented at Connect 2018 on Tuesday. “My career success has not been defined by being undefeated. It’s been defined by overcoming challenge and adversity along the way,” she said. A coal miner’s daughter, Ms Meares…
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Why empathy is the key to good leadership: Sam Rigopoulos
In a five part series we caught up with some of the keynote speakers ahead of TBORE 2018 to find out more about their businesses, where great ideas come from and how they onboard new team members. Part two features Sam Rigopoulos of Jellis Craig.
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The Hon John Howard OM AC on leadership at Connect 2018
When it comes to leadership mistakes, former Prime Minister John Howard yesterday joked to Cass Charlesworth, his biggest was a shoddy cricket bowl against the Pakistani army in Kashmir. The infamous 2005 footage of the then PM’s bowling attempt has haunted the cricket tragic ever since; but, according to Mr Howard, the true test of leadership is learning not to…
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Why focusing on team culture makes you a better leader: Stefanie Dobro
In a five part series we caught up with some of the keynote speakers ahead of TBORE 2018 to find out more about their businesses, where great ideas come from and how they onboard new team members. Part One features Stefanie Dobro of Caporn Young.
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Peter Gilchrist: Collaborate or Compete?
I would estimate that 90 per cent of those in a leadership role are also still in the sales room, competing with the rest of the team on all levels. In addition, many oversee property management, with sometimes as many as 600 properties on the rent roll. If that is not complicated enough, these ‘leaders’ are also in charge of everything from…
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Who is measuring customer experience? Leanne Howard
The customer experience will keep the industry relevant in the future. But to be truly successful in delivering someone needs to 'own it' says RER Network Head of Growth and Engagement Leanne Howard.
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John Knight: How much should my business be making?
When I am presenting at industry conferences or hosting principal workshops, there is always one question I am asked: ‘How much should my business make?’ Usually when people ask this question they are really fishing for a benchmark profit percentage. It is a question that is hard to answer; hard, because every real estate business is different. It is near impossible to compare a sales-only business…
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John Knight: The 10 Traits of Future Leaders
I see businesses start. I see businesses stop. What makes one succeed where another has failed? Through our experience of working with agents and real estate businesses of all shapes and sizes, we have been able to iden-tify the traits of those agents able to make the transition to the ultimate role – principal. EVERYONE IS A BUSINESS I love the philosophy of ‘everyone is a business’ –…
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Nathan Jones: The Importance of Bringing Gen Y Into the Leadership Mix
It’s not often that you will see a leadership team in a company comprising of most members under 50, unless the company has been founded by people below this age. However, for older companies that have a long history of having a team of ‘senior’ leaders, it can be challenging for them to accept younger generations into leadership positions. This…
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