real estate gym - perth, march 2014
TRANSCRIPT
Presented by Tom Panos General Manager, Sales – Real Estate
www.tompanos.com.au
If you don’t find them, they will find you! Earn people’s attention.
Jab, jab, jab, hook
www.tompanos.com.au
Be their agent before they need an agent
Which One Do You Want to be?
UN
FOCU
SED
FOCU
SED
YOU
YOU
TITLE
BUYER TO
UR
INSPECTION CALL BACK
CMA
TRAINING
SHOWINGS
VPA
PROSPECT
STAY IN TOUCH
LIST
SELL
YOU Have Two Choices: Be FOCUSED or BE UNFOCUSED
Listing presentation begins at the open
PV – Chase List
Address Name Phone
Hot Buyer List
Name Phone No. Details
Property Address Sale Date Method of Sale
Advertised Price
Marketing Investment
Print Upgrade Online
Video Original Buyer Source
Sale Price
40 Forrester Rd, Erskineville 04/11/13 Auction n/a 17,500
Newspaper 2,100,000
22 Main Dr, Newtown 15/11/13 Private
Treaty 975,000 8,450
Internet 960,000
11 Winters St, Camperdown 28/11/13 Private
Treaty 895,000 8,100
Signboard 883,000
18 Elizabeth St, Newtown 08/12/13 Private
Treaty 980,000 11,000
Internet 980,000
2 Williams Rd Stanmore
12/12/13 Auction n/a 6,500
Internet 800,000
14 Euston St Alexandria 22/12/13 Private
Treaty 1,050,000 9,300
Newspaper 1,040,000
Average 10, 141 1,127,167
Recent Sales
RP Data Media Maximiser – The Sunday Times
Source: RP Data Feb 1st 2013 to Nov 30th 2013 RP Data Media Maximiser
58% 50%
0%10%20%30%40%50%60%70%80%90%
100%
ONLINE and PAPER ONLINE ONLY
Success Rate
58 78
0
20
40
60
80
100
120
ONLINE and PAPER ONLINE ONLY
Average DOM
$520,709
$509,671
$504,000$506,000$508,000$510,000$512,000$514,000$516,000$518,000$520,000$522,000
ONLINE and PAPER ONLINE ONLY
Average Sale Price
RP Data Media Maximiser – The Sunday Times (Houses)
Source: RP Data Feb 1st 2013 to Nov 30th 2013 RP Data Media Maximiser
63% 49%
0%10%20%30%40%50%60%70%80%90%
100%
ONLINE and PAPER ONLINE ONLY
Success Rate
49 71
0
20
40
60
80
100
120
ONLINE and PAPER ONLINE ONLY
Average DOM
$605,218 $473,975
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
ONLINE and PAPER ONLINE ONLY
Average Sale Price
RP Data Media Maximiser – The Sunday Times (Units)
Source: RP Data Feb 1st 2013 to Nov 30th 2013 RP Data Media Maximiser
69% 61%
0%10%20%30%40%50%60%70%80%90%
100%
ONLINE and PAPER ONLINE ONLY
Success Rate
50
82
0
20
40
60
80
100
120
ONLINE and PAPER ONLINE ONLY
Average DOM
$513,222
$506,622
$502,000
$504,000
$506,000
$508,000
$510,000
$512,000
$514,000
ONLINE and PAPER ONLINE ONLY
Average Sale Price
• Can’t control the price but can control method of sale and marketing
• Must go fishing in an ocean not in a pool • We know where 100% of the buyers come from – just don’t
know where the best buyer will come from • Your marketing investment is equal to half a bid auction • Are you comfortable with not talking with 100% of the
buyers • What’s more important to you the 3k marketing or the risk
of underselling your property by 30k • You need to decide whether we whisper in the room or
scream from the mountain tops
Marketing Dialogue
• Your home’s value is dependent on 4 things • If we don’t use 100% of the resources, how will we know
we have achieved 100% of the potential price • Just so I understand first buyer or best buyer? • Wolf on Wall Street analogy • Home is on the market in competition not in isolation • Active intellectual internet vs passive print • When you watch the news you notice the news reader • I don’t want a buyer saying it wasn’t meant to be • We are taking out insurance
Marketing Dialogue
SCRIPTS & DIALOGUE
“ART”
• It’s the process not the promise of a price
• I can see the logic in meeting one extra agent…
• We can debate price for hours today between ourselves
but the main conversation about price must be with the
new owner
Listing Dialogue
• You won’t be buying this home in isolation with the
owner but under competition – can I show you how
to win?
• Are you going to make a decision for your family
based on the market or based on your life?
• Thank you that price level has already been tested
Buyer Dialogue
• Were you enquiring about this property in regards to
buying it or comparing it to something you currently own
• Are you researching, buying or selling
• I have 2 buyers who are hot to trot should we quote
yours
Prospecting Dialogue
• When do you want me to start
• When can I start work
• Do you have a spare key or should I get one cut
• When should we start bringing the buyers through
Closing Dialogue
• 5am Club • 10 before 10 • Saturday afternoon call backs • Live independent of other peoples opinions • Audio Books/ Reading Books • Daily Exercise • Have courage embracing temporary incompetence • Never begin the day until finished in writing • Marketing agent vs transactional agent • 2014 Language – not expired dialogue • Daily Journal (Goals/challenges/gratitude) • Take Risks
www.tompanos.com.au
Life Transforming Rituals
In 23 years of Real Estate, I have come to the conclusion that training and coaching is EMPTY without ACTION and COURAGE. Temporary incompetence is a critical behaviour in growth
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