THE HOME STRAIGHT

Mark McLeod

Elite Agent - - CONTENTS - Mark McLeod is the Ray White Group's Chief Ex­ec­u­tive of Growth. He works along­side both agents and busi­nesses across Aus­tralia, help­ing them reach their ul­ti­mate po­ten­tial to achieve suc­cess.

Talk­ing to a team of agents on the Gold Coast re­cently, I asked them to pic­ture a foot­ball team who has been play­ing on a dry sur­face for the last few years when all of a sud­den they have a wet, rainaf­fected pitch to play on.

If the play­ers don't adapt their game, they will lose. In that game there will still be a win­ner and a loser, but it's the team or player that adapts to the con­di­tions who will al­ways win. The rules of the game are still the same, the ball is still the same, but the con­di­tions have changed.

It's the same in this mar­ket­place that we are now faced with; there will be win­ners and there will be losers. Peo­ple will still buy homes, re­gard­less of the mar­ket.

But re­mem­ber – mar­ket con­di­tions only af­fect you if you have 100 per cent mar­ket share. I might go to an of­fice and some­one says to me, ‘The mar­ket's stuffed, Macca!' But if you only sell two out of 10 houses in your area any­way, then if you lifted and sold four out of ev­ery 10 houses you would tell me, ‘It's the best mar­ket ever'. So stop fo­cus­ing on the mar­ket, and start fo­cus­ing on the op­por­tu­ni­ties that ex­ist on the dif­fer­ent play­ing fields.

You can no longer rely on the mar­ket­place to give you the sense of ur­gency that you once had. In a real es­tate busi­ness, the of­fices that will win in the long term are the ones that con­trol in­ter­nal en­ergy and don't rely on ex­ter­nal en­ergy. In­ter­nal en­ergy is cre­ated by aware­ness and func­tion­al­ity around the key met­rics that drive your busi­ness.

Clear­ance

If you can­not con­trol your clear­ance, then your en­ergy in­side your busi­ness will drop away dra­mat­i­cally. Clear­ance is a con­trol­lable fac­tor by a com­bi­na­tion of process and de­tailed in­for­ma­tion de­liv­ered to the owner in an em­pa­thetic and pro­fes­sional man­ner.

Days on mar­ket

When the clear­ance rate drops, your days on mar­ket rise; it's like a see­saw as one af­fects the other. I be­lieve this to be the most in­flu­en­tial num­ber in a real es­tate busi­ness. If you let your days on mar­ket blow out by 10 days, your turnover clear­ance drops by 30 per cent.

Pro­file

It's a no-brainer that you need to raise your pro­file in tra­di­tional channels across dig­i­tal, news­pa­pers and so­cial me­dia. How­ever, as the mar­ket changes the most in­flu­en­tial pro­file is the Sold sticker pro­file and your abil­ity to demon­strate to your com­mu­nity that you can shift prop­erty re­gard­less of the mar­ket.

Ev­ery agent I know needs to man­age their own ex­pec­ta­tions too. In this mar­ket, agents sim­ply can­not ‘ex­pect' in­quiry to come. Or­ganic traf­fic is what the mar­ket serves up and what many of you have been ex­pect­ing for the last five years. Now you are go­ing to have to drive traf­fic to your stock. Do not ex­pect a price re­duc­tion with­out ev­i­dence.

Qual­ity, struc­tured feed­back with em­pa­thy for the owner's sit­u­a­tion is crit­i­cal to work through this. What never ceases to amaze me is that if an owner has a piece of stock with an agent for a long time, they of­ten say they never, ever saw an of­fer, let alone a rude of­fer. Those ven­dors are ef­fec­tively say­ing that their agent lacked the skill to find an of­fer. The trust of the ven­dor is gone, and there­fore a price ad­just­ment never ex­ists.

Fi­nally, this is what I can guar­an­tee you: ev­ery owner will ac­cept less than you know. And ev­ery owner will take less than they know.

THIS IS WHAT I CAN GUAR­AN­TEE YOU: EV­ERY OWNER WILL AC­CEPT LESS THAN YOU KNOW. AND EV­ERY OWNER WILL TAKE LESS THAN THEY KNOW.

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