Numbers or Stories?
Josh Phegan, Australia’s number one estate agency coach, once asked an underperforming team: “are you going to show me your numbers or tell me your stories?” – sounds harsh I know but he was bang on as usual – top performers’ numbers don’t need embellishment.
Josh returns to the UK in September and will be speaking at the EA Masters on 22nd September – I asked him what we can expect, and I’m really excited that he’s going to share the success formulas of his highest performing clients, those earning in excess of $10million a year…and here’s one of them that I picked up on my last trip down under.
The best agents know how or more importantly who to spend their time with. They start with their current hot prospects – those people who are active in the market place. But the difference between the average agent and the best is how proactive they are. The $10million agents have daily contact with their hottest prospects, they call them first thing and at the end of the day and rather than pester instead they either give or receive information. “Good Morning Peter, have you seen the new listing at Acacia Avenue…..I reckon it’s got potential to be remodelled to what you’re after….it might not look exactly right on first impression but when you see the garden I think you’ll get the picture….what’s best for you, 2 o’clock or 4 o’clock?” Each call has a predetermined action in mind.
They then work their personal network. Your friends and personal contacts are your best referral source. Of course you need to keep in touch regularly and relevantly and the best way is to use give and take, the principle of reciprocity – i.e. before contacting them have something to give.
“Hey Bobby, how are you? Have you seen the article on the BBC website today about the shortage of coffee in Colombia? Had me thinking of you and wonder if it’s a good time for you to be stocking up? Anyway, I’m going to be passing later with a client so will pop in if time allows….”
The key, as Professor Robert Cialdini told me several years ago, is to give without condition as it’s almost impossible for most decent people not to give back.
“Hey Peter, thanks for your call this morning, I read that article and placed an extra order – thanks for thinking of me. By the way, a young couple were reviewing property details for an hour or more in here this morning so I gave them your name and number….”
I saw the best agents in Sydney, Canberra and Melbourne work their neighbourhood this way each and every day – they are the most visible people in their area and buy everything locally – they use the local gym, local hairdresser, restaurants, bars and coffee shops and each time they give something of value.
The third set of people the best agents spend time with are past clients. It’s totally normal for them to make 100 or more calls a day but again, each time with something of value, some interesting fact or market insight that’s relevant.
If you make twenty calls a day you will make three appointments on average which will yield one deal, if not immediately then over time on average. That’s how Josh’s top clients make $10million plus. Not by having a secret formula, magic potion or the latest bit of tech but by making the calls, day in, day out – they’re relentless. But it’s why, when the day is done,they don’t tell stories – their numbers do the talking for them.
Josh Phegan will share much more about what it takes to be a $10million agent at the EA Masters on 22nd September. Get your tickets now.
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