July 30, 2024 • 29 mins
- Early Stages Focus: Becoming successful in real estate requires a keen understanding of product knowledge, foundational skills, and effective time management.
- Evolving to a Black Belt: Achieving high GCI levels involves strategic chasing of listings, developing brand positioning, and leveraging a supportive team structure.
- Pathway to Mastery: Real estate mastery is a process that involves continuous learning, client-focused service, and intelligent marketing.
Navigating the real estate landscape requires a mix of determination, strategy, and ongoing education.
Drawing insights from the experiences and wisdom shared by industry leaders Tom Panos, John McGrath, and Troy Malcolm, we explore the pathways to achieving 'real estate black belt' status - a metaphor for reaching exceptional GCI (Gross Commission Income) levels.
Let's delve into the core themes and step-by-step strategies to ascend the real estate ladder.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Tom Panos (00:00):
Tom Panos, john McGrath, troy Malcolm,
million-dollar agent.
Four weeks to spring.
It is a critical time becauseI'm telling everyone at the
moment gentlemen, the listingsbetween September and December
are in conversations with realestate agents in August and
right now, don't waste thisimportant opportunity 100%.
John McGrath (00:23):
Tommy, and before we know it we're going to be
starting to list for next year.
So you need to really get yourskates on right now, and I think
today we're going to talk abouta whole range of things around
the various pathways to mastery,and we're going to talk about
all things except the NRL today,I suspect.
Tom Panos (00:40):
Well, Hunt, we're not going to talk about the NRL
because the West Tigers are abasket case.
South Sydney are officially nowout of the premiership for 2024
.
John McGrath (00:51):
And you know, Troy , and the Roosters are coming
third, but we all hate theRoosters.
Well, troy likes them, buteveryone else on the call hates
the Roosters, so I think we'dbetter just move straight
forward.
They've got to be the mosthated team, so we'll just let
Troy salivate over his successand we'll lick our wounds and
rebuild for next year.
Troy Malcolm (01:11):
Yeah.
Yeah, so the name of thepodcast the Spain and Tall Poppy
Syndrome at its best.
Tom Panos (01:16):
Yeah, troy, let's leave it at that.
You had a win.
Everyone's saying it was alucky win.
You're coming third.
But I will say to all ourlisteners in Melbourne, even
when you think that, hey,they've had their run for the
decade, they're back.
Melbourne Storm are thefavourites to win the grand
final, and you know well doneVictoria.
John McGrath (01:36):
Penrith are unbeatable, I think.
Tom Panos (01:38):
Wow.
John McGrath (01:39):
The only good thing Tom about currently is the
Roosters.
Whilst they are third, theyhave no chance of winning the
comp.
Technically they do, but inreality better chance than the
Rabbitohs and the Tigersnonetheless.
But there's only two possiblechances Penrith and Storm, and I
reckon Penrith.
Now they've got Nathan Clearyback.
Troy Malcolm (01:57):
We will see I was going to say.
The one thing about Penrith isI don't know whether you both
saw the highlights or watchedthe game, but Nathan Cleary,
what an influence, and I guessthat's a little bit of what
we're going to talk about todaythe influences of individuals on
a team unit and the impact thatcan have in any market.
I mean, he scored three tries,he set up two, he was phenomenal
out there, but he also has acalm approach and I think when
(02:19):
you talk about what it takes tobe black belt in real estate,
there's a lot of synergies therewith sport.
John McGrath (02:25):
Yeah, the other thing, troy not to flog the NRL
or the sporting metaphor toomuch, but I think, for those
that do follow the NRL and I'msure there's an equivalent, I
just don't know it in the AFLPenrith, even though you know
they had a lot of injuries andthey've lost a lot of their gun
players over the last few yearsbecause of the salary cap and so
(02:45):
forth, they have a systematicapproach that seems to fit
people into it and always works.
So, even though Nathan Clearycould be the world's best rugby
league player at the moment,he's been out for a long time.
The team continue to the maindegree, and Melbourne Storm's a
great example of this too.
They continue even when many oftheir top people are out.
(03:06):
So I think it's about building.
Let's get back to real estatefor a minute here, tommy.
I think it's about building aprocess and an approach which
includes a structure and amindset that will perform in and
out, because you know there'sgoing to be markets go up,
markets go down and I thinkyou've just got to build that.
So let's talk through, I guess,the various tiers and everyone
(03:30):
will probably relate to one ofthem that's on the call and then
we can sort of have a bit of achat about what we'd be focusing
on if we were you.
Tom Panos (03:37):
Okay, so the listeners will not see the slide
, but the title of this podcastis the Pathway to Real Estate
Black Belt and Black Belt is 2million GCI and over Red Belt
I've got as 1 million I've justused various brackets that real
estate agents go up a ladder andif you start off with White
(04:01):
Belt and I want to touch on thatso, john and Troy, when a
person is relatively new to realestate, right, they join the
business and a lot of the timesthey have zero experience and
maybe zero experience in sales.
What are the sort of things thatthey should be focused on the
first two years and what sort ofincome do you think is
(04:26):
achievable early on?
I mean, I know, I mean I satthrough an interview and I had
an agent say to me oh, how longwould it take me to write the
numbers that you know GavinRubenstein writes?
And this guy was a 19-year-oldkid, never worked in real estate
, and I just felt like saying tohim listen, that should not be
your focus for the next 24months to be Gavin Rubenstein or
(04:47):
be Matt Steinway.
What do you think, gentlemen,the early stages, what should
the focus be first two years ofreal estate?
John McGrath (04:55):
I think I'll start off Troy.
I think that early on.
For me anyway, productknowledge is really really
critical.
It's the foundation upon whichyou can build your confidence,
and confidence is critical inthis industry.
So I think that you need tomake an absolute study of the
market.
(05:16):
What does that mean?
That means values.
That means architectural style.
That means what's happening inthe market.
That means what's happening inyour community, but you know
specifically, really getting toknow everything that's in the
market.
That means what's happening inyour community, but you know
specifically, really getting toknow everything that's on the
market, everything that's sold,why things are selling at those
levels, why the north sidefetches more than the south side
and how much a double garageadds, and and so forth.
(05:37):
I just think in any industrythat product knowledge is a
really critical starting point.
So I would be really working.
In fact, that's what I did whenI started out.
I started selling when I was 20.
And because I was a bit sort oflacking in confidence and
obviously fairly young to startout, I really found it was
(05:59):
important to build thatconfidence based on product
knowledge.
So in the early stages, I justthink I know your table there.
Tommy has got the word learn,which is a great word, and I
think I'd be learning theproduct knowledge and learning
the basic skills I mean we oftentalk about Troy.
Learn the skills so you canforget it, meaning learn it, and
(06:20):
it'll feel a bit robotic forthe minute and you'll practise
it.
Practise it and at some pointit no longer feels robotic, it
just feels a natural part ofyour approach.
So I think you know your basicinfrastructure, mainframe skills
base and there's only threeactivities prospecting, listing
and selling.
So there's not that much tolearn and I think, coupled with
(06:43):
the foundation of great productknowledge, what do you think,
troy, what other things in theearly stage of a career would
you be focused on learning?
Troy Malcolm (06:51):
I'll echo your comments, john.
I think, yeah, market knowledge, the basic listing and basing
prospecting skills are key.
I think you've got to manageyour time and energy really
clearly when you're starting outand accountability I think
those three areas is where a lotof new starters or learners
fall off track.
We noticed that.
So how do you overcome that?
(07:12):
I think you've got to develop areally clear business plan.
You've got to make sure thatyou put the systems in place
what's your prospecting system?
What's your market researchsystem?
What's your listing framework?
Develop those core systems andthen keep yourself accountable
or get a peer partner.
It's a really hard grind in thefirst 24 months of real estate
and I think if you can alignyourself with someone that's
(07:34):
going through that similarjourney, you're going to set
yourself up for success andyou're probably going to fast
track because you're going tolearn from both people or
multiple people, as opposed tojust trying to go on your own.
So they're the areas that I'dbe most focused on.
But, john, I think you're 100%right Market knowledge, listing
skills and prospecting skills inthat order, I think, will
really set you up for success.
John McGrath (07:54):
And you do all that, Tommy, you get to the next
phase on your black belt chart,which is chase meaning.
What do you take from that?
Tom Panos (08:03):
Well, so to make things clear and easy for people
, there are two pathways.
You might go down the path ofbeing a CSM or associate, or you
might be a standalone agent.
So I should clarify that,because there are those two
models.
But one thing is for surenothing is going to happen, and
I think it was Marcus Ciminellothat said it to me, when one of
(08:25):
these old directors early on inthe piece said Marcus,
everything is fine in whatyou're saying, but you need to
remember one thing Where's yournext listing going to come from?
That is fundamentally what we'rein the business.
We're a volume-based businessand nothing happens without the
volume of a listing basedbusiness and nothing happens
(08:46):
without the volume of a listing.
So I think you do have to,early on, before you become a
magnet, before you have ravingfans, before you become an
attraction agent, you do need tolearn the art of gentle
interruption.
That's how I define prospecting.
You're going to have to learnhow to interrupt people gently,
whether it's face to face,whether it's on the phone.
You're going to have to try andmeet people that own real
(09:09):
estate in your core area and getthem to start liking you and
getting a feel that, hey, he orshe's like a nice person, so
that's what we call prospectingin real estate.
John McGrath (09:21):
Yeah and Tommy, let's face it, in the early
stages of many careers in realestate, yeah and Tommy, let's
face it, in the early stages ofmany careers, especially if you
start at a younger age, youdon't yet have a network.
You haven't got past clients tofollow up, all you've got is
energy.
And hopefully by this stagebecause the first session, the
first section we talked aboutyou know product knowledge.
So hopefully you've now gotsome product knowledge.
You haven't yet got momentum,but you need to chase and chase
(09:45):
and chase, because you shouldhave a bit more confidence.
And you've got energy and we'veall got boundless energy.
It just depends on how much wewant to pour into this great
business of real estate.
So the chase bit for me, exactlyright.
And you know you use Marcus'scommentary and I remember back
to the late great Ron Pillingerand he was always, you know,
first thing in the morning youget to the office what's the
(10:07):
best deal, what's the closestdeal, what calls can I make
right now to get a deal sold ora deal listed?
And he was just totallydeal-focused.
And you know he's still to thisday, one of the best agents in
40 years of real estate thatI've ever seen.
So I think, yeah, it's justusing your enthusiasm, energy,
(10:33):
your newfound product knowledge.
So you should have a bit moreconfidence.
And just chasing, as RonPillinger said, you know what
call can I make this morningprospecting, following up deals.
So, troy, I think the chase bitis self-explanatory.
You've got to get up and go.
Troy Malcolm (10:45):
Yeah, a lot of it, john, comes down to the feeling
of pressure because, like yousaid, tom, a lot of these agents
they're making 20 to 40transactions, depending on what
market they operate in.
The chase is on and they'refeeling that pressure.
So it's like, how do theymanage their time effectively,
how do they make sure thatthey've got the lead generation
and the listing lead source inplace?
(11:06):
Because they have made a fewsales and so they know what it
takes, but they're probablychasing a lot more than what
they're actually converting.
So the pressure improves here.
But if you actually break itdown into the systemized
approach, that kind of gets youto the next level, which I think
we're going to talk about in asecond, about you know the
support and the brand positionand how you create that
attraction business.
Tom Panos (11:26):
Yeah, I'll just add and extend on what you spoke
about both about the Chase bit.
I was overwhelmed in my secondor third year in real estate and
on a specific Monday morning myemployer, john Owsnet from the
professionals padstow pulled measide and he said listen, I'm
going to make things easy foryou.
(11:47):
Let's go and have a sit down ata coffee shop.
We sat down and on a piece ofpaper, he divided a piece of
paper into three columns.
The first column was listingsI'm chasing.
The second column was hotbuyers I'm working with and the
third column was my currentvendors.
And he said do me a favor,write it all out, write all
(12:08):
three out.
And I wrote it out and he saideffective, from today, every
Monday morning you'll have apersonal meeting with yourself.
You'll write these threecolumns out and you're going to
write them out.
I said why am I going to writeout all these listings?
I've changed.
He goes because when you writeit out, you're forcing yourself
to come up with an action stepon what will you do this week to
(12:30):
get closer to that listing?
He says when you write yourbuyers out, you're reminding
yourself these are the highprobability buyers and you write
out your vendors because itforces you to come up with an
action step.
What can I actually do to helpget this vendor sold this week?
Is it another conversation?
Is it more marketing?
Is it a price alignment?
And that piece of paper becomesyour agenda for the week
(12:54):
because you can get lost gettingbusy, being busy without a
clear agenda at the start of theweek.
John McGrath (13:02):
You know, tommy, I reckon that's as good a real
estate advisor as I've heard infour decades.
Wow Listings.
I'm chasing hot buyers andcurrent vendors.
What else is there to do andwho else is there to speak to?
You can try and get fancy pantsand get into the social media
era and that might work as well,but just the basics of that.
You are name dropping again.
(13:22):
Professionals, padstay Jesusunbelievable.
Tom Panos (13:26):
Yeah, and I'll tell you what Maddy King knows.
Maddy King was a good mate.
Is Maddy King's, I think, goodmates with them, right, john?
Maddy King knows Maddy King wasgood.
Is, maddy King's, I think, goodmates with him, right, john?
And it's interesting, you know,because when I joined that
office I'll still never forgetit Owsnet said to me we do 30
sales a month here.
That's a sale a day.
And he goes and you've got tochip in with seven of those.
(13:48):
And it was like this is whatyou've got to do and I thought
that that, to me, was the norm.
And subsequently I've realizedthat not every office does 30
sales a month.
But let's move on.
So you've learned the basics,you've learned product knowledge
and no one's got an excuse.
Go to realestatecom.
(14:09):
You could have a universitydegree in product knowledge in
one day, in 2024.
You can see all the just sold.
You can see all the currentlistings.
By the way, can I ask you bothwhat's your view on agents that
improve their product knowledgeby going to other agents, opens
auctions, sending associates in?
I get mixed feelings.
(14:30):
I get some agents at an auctionon a Saturday.
Oh Tom, what's this guy doinghanging around his property here
.
I don't want him to be on myproperty.
Troy, you would hear it.
You'd hear when agents getshitty about competitive agents
coming along to the properties.
What are your views on that?
Can you do it in a good way?
John McGrath (14:51):
I think number one public auction.
You can't really retard anyonefrom coming.
If they want to come, theyshould be able to come, although
I do know there are some agentsthat try and ban other agents,
which feels a little bit miserlyto me.
So I think, as an agent that'sattending other agents' auctions
, one must be careful not todisrupt in any way and appear to
(15:15):
be touting for business.
I mean, I've seen some agentsattend our auctions and even
other agents' auctions and theysort of go around the crowd
networking and I've even seenpeople, believe it or not,
handing out business cards andsome have approached buyers who
have been underbidders and I'vegot to say I find that a bit
distasteful because I think it'sa bit like you've got to be
(15:36):
respectful to the agent holdingthe auction and if they're happy
to have you attend which Iwould be and I think most should
be I think you know you shouldbe appropriate.
I've even seen I'll tell youthe worst bit is I've seen other
agents handing out brochuresfor similar properties to people
on the way out of an auction.
That's probably about as bad asI've seen, which I find
(15:59):
offensive and some might argueoh, they're doing the right
thing by their vendor.
But I just think there's waysto do things and there's ways
not to do things.
Tom Panos (16:07):
And what about at Opens, john?
Because the Opens the auctionsis less so but Opens about.
You know, because the open thethe options is lesser but opens
like, and a lot of companies aresending their younger
associates saying go in, checkthat, place out um see what it's
like.
What's your view?
John McGrath (16:21):
I think every agent should see everything
that's for sale, if they can, intheir neighborhood.
I wouldn't be sending anassociate.
I'll be going to look at itmyself, because you can't really
tell unless you walk through it.
And you know, to be quitehonest, I had very good
relationships with pretty mucheveryone in my market except for
one, but everyone else I hadvery good relationships with and
you know we'd welcome eachother.
(16:42):
Come along and they came to myOpens and I went to theirs.
So I think you know there's noreason why this is not war and
peace here.
We're not taking over a country, just get on with each other
and yeah, go along and have alook at them.
Troy Malcolm (17:02):
Troy, have you got the same view?
I've got the same view.
I mean I would encourage and Ido encourage my agents to let
agents come through their opens,but they need to be respectful
about it.
You know, when I was in insales, we'd always go midweek,
when it was a little bit quieter.
We'd never have our tie on ourname badge.
We'd always introduce ourselvesor do a courtesy call before we
arrive to say, hey, we've got aneighbor in the area that we're
(17:23):
thinking about giving arecommendation about a
renovation.
Is it okay if we walk through?
Looks like the owners have donea great job, there's a way to
go about it.
And I I think, John, that'swhat you're saying Everyone can
get along, but you need to berespectful.
And so I think you know themore care you take with those
relationships.
It's a law of reciprocity.
You know it'll come back to atsome point in time.
Tom Panos (17:41):
Okay, beautiful, let's talk about the next level.
I'm going to bundle it together.
You get to around 400 GCI,thereabouts, maybe 500.
And all of a sudden you've gotfive or six listings on the go
and all of a sudden you've gotto remember things and you've
got to chase things and you'vegot to do your opens and then
you've got to do your vendorreports, but you still got to
(18:03):
look for new business.
So all of a sudden things havegot busier and in addition to
that, your name's getting outthere in the marketplace.
People are seeing you on REAand Domain.
You're probably hitting sociala lot more.
The community's becoming awareof you, and it's both about
(18:23):
brand and it's about support.
Do you have a view?
Do both of you have a view onthe support bit?
When do you pull the triggerand say I'm bringing in someone
to help me?
I'm a standalone agent.
At what point in your realestate path to Black Belt do you
do that?
John McGrath (18:44):
Probably depends initially, tommy, on the level
of support your office gives you.
If you've got full support inthe office in terms of the admin
, I think you can hang on a bitlonger.
But if you've kind of supportin the office in terms of the
admin, I think you can hang on abit longer.
But if you've kind of got to doit all yourself, you know you'd
be better off paying someoneelse 25, 30 an hour to do
activities that you know 25 to30 hour activities.
(19:05):
I reckon as a general rule ofthumb, you should be able to
list and sell one property aweek yourself and I think once
you're at or above those levels,I think you know you definitely
want to hire your first teammember by the time you got to
that.
If you're only doing one or twosales a month, I think it
doesn't make sense financiallyand you probably don't need it.
But I think once you're gettingto three or four sales a month,
(19:27):
you definitely need to startyour team, starting with someone
who can probably take care ofall the paperwork off your plate
, help you get organized, helplook after the marketing
activities and then, as you geta little bit more, you might get
another couple of sales a monthand then you start probably
with someone that can help youwith buyer work.
That would be my thinking, troy.
Troy Malcolm (19:50):
Yeah, I think it depends on the individual as
well, Tom.
We know there's agents outthere that are extremely savvy
in their approach.
They know how to use technologyto their advantage.
They're using products outthere that streamline everything
.
So I think if you're tech savvyyou can probably leverage being
a sole agent for a lot longerthan what someone would be if
they were probably not as techsavvy.
(20:10):
So it depends on the individual.
But I agree with John, Ifyou're making two to three sales
per month and you're getting alot of volume through Open for
Inspections and there is a needfor the buyer work, I would
definitely be looking atbringing on that person and
that'll kind of take you to 60to 75 sales for the year and
that's kind of that realm ofwhat we're talking about from a
(20:31):
GCI point of view as well.
Tom Panos (20:33):
Okay.
The magic in real estate startshappening when, all of a sudden
, you're on the shopping listand they're calling three agents
and you're just getting callscoming in from people that you
may or may not know saying hey,troy, could you pop over and
look at our home in KingsleyStreet?
Right, and that normallyappears not to happen.
(20:57):
In your first two years, I mean, you might get the occasional
one, but I get a lot of realestate agents that tell me from
around year three onwards, hey,they seek me out, I'm getting
call-ins.
They're saying that they'veseen me on the review site on
the JustSold section.
So, on that, should real estateagents, apart from vendor-paid
(21:20):
advertising, should they belooking at investing in
agent-paid advertising toenhance and extend their brand?
John McGrath (21:33):
their brand.
It's funny this is one of thoseindustries where a lot of your
brand positioning can be donewhilst you're doing a great job
as agent marketer.
I'll give you an example justlisted cards.
They are actually important andbeneficial to a vendor, but of
course, they do, in a sense,promote you and your brand at
the same time as do just listed,just auction invites and then
(21:54):
just sold.
Well, the just sold probably isa cost for you.
So I do think you have to startinvesting, just like any
business.
You've got to, as soon as youshift from a mindset of an
employee to I'm a businesswithin a business.
I mean every business drycleaner, laundry, corner stores,
anything.
If you want to grow, you needto promote your service and your
products.
(22:14):
So, yeah, I think for sureyou've got to start doing that.
In fact, I think the next twolevels, tommy, which isently is
a really important and a greatway of doing it.
I think just the simple things,like you know just listed, just
(22:44):
sold, type of cards.
Really important, troy.
Troy Malcolm (22:48):
I think it actually creates a bit of
breakthrough.
When we get to this moment, tomand John, I think you've got to
really look at the quality ofthe team excellence standards,
because if you're doing theright thing out there, then you
probably won't need to do asmuch marketing as what you would
have done in the past.
When you're getting through tothis level, you do become that
household name and you do getpeople coming to you instantly.
(23:11):
Do become that household nameand you do get people coming to
you instantly.
I think, with some really smartmarketing initiatives, this is
where you can see one sale turninto four very quickly with a
campaign and that's what mostpeople should be focused on
doing great things.
I think of agents throughoutour group, john, that use social
media and video products veryintelligently around their just
sold and just listed properties.
Not only is it in the letterbox, but it's also online and
(23:34):
that's leaving a digitalfootprint, tom, that people are
looking and digesting, you know,months after the event, and I
think that that's a really smartstrategy to get that next level
of momentum and take you to thesuperpower teams you know, 2
million and above.
John McGrath (23:48):
It's a good point, troy, because we often talk
internally at McGrath aboutraving fans and to create raving
fans it costs zero, it's justeffort and interest and service
levels and attention to detailthose things.
And whilst a lot of people goand spend thousands a month on
newsletters and letterbox dropsand social media, their service
(24:10):
levels, which are far moreimpactful and cost nothing, are
often a bit substandard, youknow.
Then you go to one of theiropens and they're on the phone
and they're not particularlyattentive and you know, whatever
.
I think that the number onebrand positioning and the number
one marketing is always goingto be your attention to people
that you're serving in themarket.
So I think you're right, that'scritical.
(24:33):
And then that brings you to theleverage point.
You know, if you're up andaround the sort of 800k, a
million dollars, whatever, youknow you've got now, now you've
got a business that's bustling,that's got momentum, that's got
a bit of scale, that's gotenergy and it's really about.
You know how do you leveragethat level of momentum to go to
(24:55):
what we often call runawaysuccess?
Yeah, I think it's a reallygreat graph you've got there,
tommy.
I hope you can somehow put itup on your gym site.
Tom Panos (25:04):
Yeah, I'll put it up.
I'll even put it up on socialand on that last bit there, when
I look at the black belt andyou can't see it there team.
But just picture, black belt is2 million plus and the focus is
on team because there's only acertain amount of things a
single person is going to do.
So I sat through the REB top100, call out the names with
(25:28):
Phil Tarrin about three monthsago and there was one column
that had how many members werein the team as I was going
through the list 100, 99, 98,which, by the way,
congratulations.
I think there would have beenaround 30 people from McGrath on
that list when I was goingthrough it.
However, the observation I wantto make is it appears there was
(25:51):
not one person that was able todo 2 million plus without at
least two team members in theirteam.
One might have been workingtowards buyers and helping with
lead generation and another onewas doing more marketing and
admin.
That's when you start talkingabout epic levels in real estate
(26:13):
.
We could go through lots ofnames.
You could go to the REB Top 100and see them, but you will see,
the bigger the dream, thebigger the team.
John McGrath (26:23):
Yeah, and the last one team development, which
you'll see on the list when yougo to Tom's website.
When you're really in momentum,you're able to engage, hire and
and retain really good qualitypeople that become part of your
team.
But they're fully fledged andand very successful agents in
(26:43):
their own right and that's wherethese multi-million dollar
agents I mean, you know they'reall going to have quality people
at that level and a lot ofpeople are happy to work for an
Alex Jordan or a Matt Steinwayor, you know, gavir Rubenstein
they're looking to be mentoredand coached and they want to be
a part of a team.
So, yeah, I think it's a greatway to go forward and everyone
(27:05):
should check out this ladder.
Troy Malcolm (27:08):
When I was looking at that list, Tom, I was always
really keen to see how longthose associates and team
members had been retained bythose lead agents, because I
think you would find there's acorrelation between the success
of the agent and the part of histeam.
(27:30):
For probably as long as I canremember, there's a really good
synergy there between businessoperations, scale and senior
agents that are writing hugenumbers.
So lesson for everyone the teamthat you have, it's the pick
and stick mindset and developingthat team that's going to get
you scale and consistency aroundhitting $2 million plus GCI on
(27:51):
an annual basis.
John McGrath (27:53):
Yeah, good point.
Check it out at Tommy's websitebecause it's a fantastic
pathway to give everyone a senseof the way to go to build their
career.
Tom Panos (28:04):
All right, Gentlemen, it is good to see you again and
it is very good to know that.
Look, I don't know about you,but my experience in real estate
is July to December is always alot more volume than January to
June, and I think that we'reentering our state of origin
(28:25):
period in real estate.
We're only four weeks away froma lot, a lot of listings and
volume is high and I don't knowwhat it's like there at McGrath,
troy, but you can tell thereare a lot of auctions being
booked in at the moment.
John McGrath (28:42):
It's definitely on the up, definitely on the up.
Chase Harder and Criago threethat is.
I love that.
Tommy, three columns listings.
I'm chasing hottest buyers andmy current vendors.
There you go, guys, tommy.
Three columns listings.
I'm chasing hottest buyers andmy current vendors.
There you go, guys.
If you heard that today, that'sa great piece of gold.
Thanks, tommy.
Thanks a lot, troy.
Troy Malcolm (29:00):
See you, Tim.
Have a great week.
Tom Panos, john McGrath, troy Malcolm,
million-dollar agent.
Four weeks to spring.
It is a critical time becauseI'm telling everyone at the
moment gentlemen, the listingsbetween September and December
are in conversations with realestate agents in August and
right now, don't waste thisimportant opportunity 100%.
John McGrath (00:23):
Tommy, and before we know it we're going to be
starting to list for next year.
So you need to really get yourskates on right now, and I think
today we're going to talk abouta whole range of things around
the various pathways to mastery,and we're going to talk about
all things except the NRL today,I suspect.
Tom Panos (00:40):
Well, Hunt, we're not going to talk about the NRL
because the West Tigers are abasket case.
South Sydney are officially nowout of the premiership for 2024
.
John McGrath (00:51):
And you know, Troy , and the Roosters are coming
third, but we all hate theRoosters.
Well, troy likes them, buteveryone else on the call hates
the Roosters, so I think we'dbetter just move straight
forward.
They've got to be the mosthated team, so we'll just let
Troy salivate over his successand we'll lick our wounds and
rebuild for next year.
Troy Malcolm (01:11):
Yeah.
Yeah, so the name of thepodcast the Spain and Tall Poppy
Syndrome at its best.
Tom Panos (01:16):
Yeah, troy, let's leave it at that.
You had a win.
Everyone's saying it was alucky win.
You're coming third.
But I will say to all ourlisteners in Melbourne, even
when you think that, hey,they've had their run for the
decade, they're back.
Melbourne Storm are thefavourites to win the grand
final, and you know well doneVictoria.
John McGrath (01:36):
Penrith are unbeatable, I think.
Tom Panos (01:38):
Wow.
John McGrath (01:39):
The only good thing Tom about currently is the
Roosters.
Whilst they are third, theyhave no chance of winning the
comp.
Technically they do, but inreality better chance than the
Rabbitohs and the Tigersnonetheless.
But there's only two possiblechances Penrith and Storm, and I
reckon Penrith.
Now they've got Nathan Clearyback.
Troy Malcolm (01:57):
We will see I was going to say.
The one thing about Penrith isI don't know whether you both
saw the highlights or watchedthe game, but Nathan Cleary,
what an influence, and I guessthat's a little bit of what
we're going to talk about todaythe influences of individuals on
a team unit and the impact thatcan have in any market.
I mean, he scored three tries,he set up two, he was phenomenal
out there, but he also has acalm approach and I think when
(02:19):
you talk about what it takes tobe black belt in real estate,
there's a lot of synergies therewith sport.
John McGrath (02:25):
Yeah, the other thing, troy not to flog the NRL
or the sporting metaphor toomuch, but I think, for those
that do follow the NRL and I'msure there's an equivalent, I
just don't know it in the AFLPenrith, even though you know
they had a lot of injuries andthey've lost a lot of their gun
players over the last few yearsbecause of the salary cap and so
(02:45):
forth, they have a systematicapproach that seems to fit
people into it and always works.
So, even though Nathan Clearycould be the world's best rugby
league player at the moment,he's been out for a long time.
The team continue to the maindegree, and Melbourne Storm's a
great example of this too.
They continue even when many oftheir top people are out.
(03:06):
So I think it's about building.
Let's get back to real estatefor a minute here, tommy.
I think it's about building aprocess and an approach which
includes a structure and amindset that will perform in and
out, because you know there'sgoing to be markets go up,
markets go down and I thinkyou've just got to build that.
So let's talk through, I guess,the various tiers and everyone
(03:30):
will probably relate to one ofthem that's on the call and then
we can sort of have a bit of achat about what we'd be focusing
on if we were you.
Tom Panos (03:37):
Okay, so the listeners will not see the slide
, but the title of this podcastis the Pathway to Real Estate
Black Belt and Black Belt is 2million GCI and over Red Belt
I've got as 1 million I've justused various brackets that real
estate agents go up a ladder andif you start off with White
(04:01):
Belt and I want to touch on thatso, john and Troy, when a
person is relatively new to realestate, right, they join the
business and a lot of the timesthey have zero experience and
maybe zero experience in sales.
What are the sort of things thatthey should be focused on the
first two years and what sort ofincome do you think is
(04:26):
achievable early on?
I mean, I know, I mean I satthrough an interview and I had
an agent say to me oh, how longwould it take me to write the
numbers that you know GavinRubenstein writes?
And this guy was a 19-year-oldkid, never worked in real estate
, and I just felt like saying tohim listen, that should not be
your focus for the next 24months to be Gavin Rubenstein or
(04:47):
be Matt Steinway.
What do you think, gentlemen,the early stages, what should
the focus be first two years ofreal estate?
John McGrath (04:55):
I think I'll start off Troy.
I think that early on.
For me anyway, productknowledge is really really
critical.
It's the foundation upon whichyou can build your confidence,
and confidence is critical inthis industry.
So I think that you need tomake an absolute study of the
market.
(05:16):
What does that mean?
That means values.
That means architectural style.
That means what's happening inthe market.
That means what's happening inyour community, but you know
specifically, really getting toknow everything that's in the
market.
That means what's happening inyour community, but you know
specifically, really getting toknow everything that's on the
market, everything that's sold,why things are selling at those
levels, why the north sidefetches more than the south side
and how much a double garageadds, and and so forth.
(05:37):
I just think in any industrythat product knowledge is a
really critical starting point.
So I would be really working.
In fact, that's what I did whenI started out.
I started selling when I was 20.
And because I was a bit sort oflacking in confidence and
obviously fairly young to startout, I really found it was
(05:59):
important to build thatconfidence based on product
knowledge.
So in the early stages, I justthink I know your table there.
Tommy has got the word learn,which is a great word, and I
think I'd be learning theproduct knowledge and learning
the basic skills I mean we oftentalk about Troy.
Learn the skills so you canforget it, meaning learn it, and
(06:20):
it'll feel a bit robotic forthe minute and you'll practise
it.
Practise it and at some pointit no longer feels robotic, it
just feels a natural part ofyour approach.
So I think you know your basicinfrastructure, mainframe skills
base and there's only threeactivities prospecting, listing
and selling.
So there's not that much tolearn and I think, coupled with
(06:43):
the foundation of great productknowledge, what do you think,
troy, what other things in theearly stage of a career would
you be focused on learning?
Troy Malcolm (06:51):
I'll echo your comments, john.
I think, yeah, market knowledge, the basic listing and basing
prospecting skills are key.
I think you've got to manageyour time and energy really
clearly when you're starting outand accountability I think
those three areas is where a lotof new starters or learners
fall off track.
We noticed that.
So how do you overcome that?
(07:12):
I think you've got to develop areally clear business plan.
You've got to make sure thatyou put the systems in place
what's your prospecting system?
What's your market researchsystem?
What's your listing framework?
Develop those core systems andthen keep yourself accountable
or get a peer partner.
It's a really hard grind in thefirst 24 months of real estate
and I think if you can alignyourself with someone that's
(07:34):
going through that similarjourney, you're going to set
yourself up for success andyou're probably going to fast
track because you're going tolearn from both people or
multiple people, as opposed tojust trying to go on your own.
So they're the areas that I'dbe most focused on.
But, john, I think you're 100%right Market knowledge, listing
skills and prospecting skills inthat order, I think, will
really set you up for success.
John McGrath (07:54):
And you do all that, Tommy, you get to the next
phase on your black belt chart,which is chase meaning.
What do you take from that?
Tom Panos (08:03):
Well, so to make things clear and easy for people
, there are two pathways.
You might go down the path ofbeing a CSM or associate, or you
might be a standalone agent.
So I should clarify that,because there are those two
models.
But one thing is for surenothing is going to happen, and
I think it was Marcus Ciminellothat said it to me, when one of
(08:25):
these old directors early on inthe piece said Marcus,
everything is fine in whatyou're saying, but you need to
remember one thing Where's yournext listing going to come from?
That is fundamentally what we'rein the business.
We're a volume-based businessand nothing happens without the
volume of a listing basedbusiness and nothing happens
(08:46):
without the volume of a listing.
So I think you do have to,early on, before you become a
magnet, before you have ravingfans, before you become an
attraction agent, you do need tolearn the art of gentle
interruption.
That's how I define prospecting.
You're going to have to learnhow to interrupt people gently,
whether it's face to face,whether it's on the phone.
You're going to have to try andmeet people that own real
(09:09):
estate in your core area and getthem to start liking you and
getting a feel that, hey, he orshe's like a nice person, so
that's what we call prospectingin real estate.
John McGrath (09:21):
Yeah and Tommy, let's face it, in the early
stages of many careers in realestate, yeah and Tommy, let's
face it, in the early stages ofmany careers, especially if you
start at a younger age, youdon't yet have a network.
You haven't got past clients tofollow up, all you've got is
energy.
And hopefully by this stagebecause the first session, the
first section we talked aboutyou know product knowledge.
So hopefully you've now gotsome product knowledge.
You haven't yet got momentum,but you need to chase and chase
(09:45):
and chase, because you shouldhave a bit more confidence.
And you've got energy and we'veall got boundless energy.
It just depends on how much wewant to pour into this great
business of real estate.
So the chase bit for me, exactlyright.
And you know you use Marcus'scommentary and I remember back
to the late great Ron Pillingerand he was always, you know,
first thing in the morning youget to the office what's the
(10:07):
best deal, what's the closestdeal, what calls can I make
right now to get a deal sold ora deal listed?
And he was just totallydeal-focused.
And you know he's still to thisday, one of the best agents in
40 years of real estate thatI've ever seen.
So I think, yeah, it's justusing your enthusiasm, energy,
(10:33):
your newfound product knowledge.
So you should have a bit moreconfidence.
And just chasing, as RonPillinger said, you know what
call can I make this morningprospecting, following up deals.
So, troy, I think the chase bitis self-explanatory.
You've got to get up and go.
Troy Malcolm (10:45):
Yeah, a lot of it, john, comes down to the feeling
of pressure because, like yousaid, tom, a lot of these agents
they're making 20 to 40transactions, depending on what
market they operate in.
The chase is on and they'refeeling that pressure.
So it's like, how do theymanage their time effectively,
how do they make sure thatthey've got the lead generation
and the listing lead source inplace?
(11:06):
Because they have made a fewsales and so they know what it
takes, but they're probablychasing a lot more than what
they're actually converting.
So the pressure improves here.
But if you actually break itdown into the systemized
approach, that kind of gets youto the next level, which I think
we're going to talk about in asecond, about you know the
support and the brand positionand how you create that
attraction business.
Tom Panos (11:26):
Yeah, I'll just add and extend on what you spoke
about both about the Chase bit.
I was overwhelmed in my secondor third year in real estate and
on a specific Monday morning myemployer, john Owsnet from the
professionals padstow pulled measide and he said listen, I'm
going to make things easy foryou.
(11:47):
Let's go and have a sit down ata coffee shop.
We sat down and on a piece ofpaper, he divided a piece of
paper into three columns.
The first column was listingsI'm chasing.
The second column was hotbuyers I'm working with and the
third column was my currentvendors.
And he said do me a favor,write it all out, write all
(12:08):
three out.
And I wrote it out and he saideffective, from today, every
Monday morning you'll have apersonal meeting with yourself.
You'll write these threecolumns out and you're going to
write them out.
I said why am I going to writeout all these listings?
I've changed.
He goes because when you writeit out, you're forcing yourself
to come up with an action stepon what will you do this week to
(12:30):
get closer to that listing?
He says when you write yourbuyers out, you're reminding
yourself these are the highprobability buyers and you write
out your vendors because itforces you to come up with an
action step.
What can I actually do to helpget this vendor sold this week?
Is it another conversation?
Is it more marketing?
Is it a price alignment?
And that piece of paper becomesyour agenda for the week
(12:54):
because you can get lost gettingbusy, being busy without a
clear agenda at the start of theweek.
John McGrath (13:02):
You know, tommy, I reckon that's as good a real
estate advisor as I've heard infour decades.
Wow Listings.
I'm chasing hot buyers andcurrent vendors.
What else is there to do andwho else is there to speak to?
You can try and get fancy pantsand get into the social media
era and that might work as well,but just the basics of that.
You are name dropping again.
(13:22):
Professionals, padstay Jesusunbelievable.
Tom Panos (13:26):
Yeah, and I'll tell you what Maddy King knows.
Maddy King was a good mate.
Is Maddy King's, I think, goodmates with them, right, john?
Maddy King knows Maddy King wasgood.
Is, maddy King's, I think, goodmates with him, right, john?
And it's interesting, you know,because when I joined that
office I'll still never forgetit Owsnet said to me we do 30
sales a month here.
That's a sale a day.
And he goes and you've got tochip in with seven of those.
(13:48):
And it was like this is whatyou've got to do and I thought
that that, to me, was the norm.
And subsequently I've realizedthat not every office does 30
sales a month.
But let's move on.
So you've learned the basics,you've learned product knowledge
and no one's got an excuse.
Go to realestatecom.
(14:09):
You could have a universitydegree in product knowledge in
one day, in 2024.
You can see all the just sold.
You can see all the currentlistings.
By the way, can I ask you bothwhat's your view on agents that
improve their product knowledgeby going to other agents, opens
auctions, sending associates in?
I get mixed feelings.
(14:30):
I get some agents at an auctionon a Saturday.
Oh Tom, what's this guy doinghanging around his property here
.
I don't want him to be on myproperty.
Troy, you would hear it.
You'd hear when agents getshitty about competitive agents
coming along to the properties.
What are your views on that?
Can you do it in a good way?
John McGrath (14:51):
I think number one public auction.
You can't really retard anyonefrom coming.
If they want to come, theyshould be able to come, although
I do know there are some agentsthat try and ban other agents,
which feels a little bit miserlyto me.
So I think, as an agent that'sattending other agents' auctions
, one must be careful not todisrupt in any way and appear to
(15:15):
be touting for business.
I mean, I've seen some agentsattend our auctions and even
other agents' auctions and theysort of go around the crowd
networking and I've even seenpeople, believe it or not,
handing out business cards andsome have approached buyers who
have been underbidders and I'vegot to say I find that a bit
distasteful because I think it'sa bit like you've got to be
(15:36):
respectful to the agent holdingthe auction and if they're happy
to have you attend which Iwould be and I think most should
be I think you know you shouldbe appropriate.
I've even seen I'll tell youthe worst bit is I've seen other
agents handing out brochuresfor similar properties to people
on the way out of an auction.
That's probably about as bad asI've seen, which I find
(15:59):
offensive and some might argueoh, they're doing the right
thing by their vendor.
But I just think there's waysto do things and there's ways
not to do things.
Tom Panos (16:07):
And what about at Opens, john?
Because the Opens the auctionsis less so but Opens about.
You know, because the open thethe options is lesser but opens
like, and a lot of companies aresending their younger
associates saying go in, checkthat, place out um see what it's
like.
What's your view?
John McGrath (16:21):
I think every agent should see everything
that's for sale, if they can, intheir neighborhood.
I wouldn't be sending anassociate.
I'll be going to look at itmyself, because you can't really
tell unless you walk through it.
And you know, to be quitehonest, I had very good
relationships with pretty mucheveryone in my market except for
one, but everyone else I hadvery good relationships with and
you know we'd welcome eachother.
(16:42):
Come along and they came to myOpens and I went to theirs.
So I think you know there's noreason why this is not war and
peace here.
We're not taking over a country, just get on with each other
and yeah, go along and have alook at them.
Troy Malcolm (17:02):
Troy, have you got the same view?
I've got the same view.
I mean I would encourage and Ido encourage my agents to let
agents come through their opens,but they need to be respectful
about it.
You know, when I was in insales, we'd always go midweek,
when it was a little bit quieter.
We'd never have our tie on ourname badge.
We'd always introduce ourselvesor do a courtesy call before we
arrive to say, hey, we've got aneighbor in the area that we're
(17:23):
thinking about giving arecommendation about a
renovation.
Is it okay if we walk through?
Looks like the owners have donea great job, there's a way to
go about it.
And I I think, John, that'swhat you're saying Everyone can
get along, but you need to berespectful.
And so I think you know themore care you take with those
relationships.
It's a law of reciprocity.
You know it'll come back to atsome point in time.
Tom Panos (17:41):
Okay, beautiful, let's talk about the next level.
I'm going to bundle it together.
You get to around 400 GCI,thereabouts, maybe 500.
And all of a sudden you've gotfive or six listings on the go
and all of a sudden you've gotto remember things and you've
got to chase things and you'vegot to do your opens and then
you've got to do your vendorreports, but you still got to
(18:03):
look for new business.
So all of a sudden things havegot busier and in addition to
that, your name's getting outthere in the marketplace.
People are seeing you on REAand Domain.
You're probably hitting sociala lot more.
The community's becoming awareof you, and it's both about
(18:23):
brand and it's about support.
Do you have a view?
Do both of you have a view onthe support bit?
When do you pull the triggerand say I'm bringing in someone
to help me?
I'm a standalone agent.
At what point in your realestate path to Black Belt do you
do that?
John McGrath (18:44):
Probably depends initially, tommy, on the level
of support your office gives you.
If you've got full support inthe office in terms of the admin
, I think you can hang on a bitlonger.
But if you've kind of supportin the office in terms of the
admin, I think you can hang on abit longer.
But if you've kind of got to doit all yourself, you know you'd
be better off paying someoneelse 25, 30 an hour to do
activities that you know 25 to30 hour activities.
(19:05):
I reckon as a general rule ofthumb, you should be able to
list and sell one property aweek yourself and I think once
you're at or above those levels,I think you know you definitely
want to hire your first teammember by the time you got to
that.
If you're only doing one or twosales a month, I think it
doesn't make sense financiallyand you probably don't need it.
But I think once you're gettingto three or four sales a month,
(19:27):
you definitely need to startyour team, starting with someone
who can probably take care ofall the paperwork off your plate
, help you get organized, helplook after the marketing
activities and then, as you geta little bit more, you might get
another couple of sales a monthand then you start probably
with someone that can help youwith buyer work.
That would be my thinking, troy.
Troy Malcolm (19:50):
Yeah, I think it depends on the individual as
well, Tom.
We know there's agents outthere that are extremely savvy
in their approach.
They know how to use technologyto their advantage.
They're using products outthere that streamline everything
.
So I think if you're tech savvyyou can probably leverage being
a sole agent for a lot longerthan what someone would be if
they were probably not as techsavvy.
(20:10):
So it depends on the individual.
But I agree with John, Ifyou're making two to three sales
per month and you're getting alot of volume through Open for
Inspections and there is a needfor the buyer work, I would
definitely be looking atbringing on that person and
that'll kind of take you to 60to 75 sales for the year and
that's kind of that realm ofwhat we're talking about from a
(20:31):
GCI point of view as well.
Tom Panos (20:33):
Okay.
The magic in real estate startshappening when, all of a sudden
, you're on the shopping listand they're calling three agents
and you're just getting callscoming in from people that you
may or may not know saying hey,troy, could you pop over and
look at our home in KingsleyStreet?
Right, and that normallyappears not to happen.
(20:57):
In your first two years, I mean, you might get the occasional
one, but I get a lot of realestate agents that tell me from
around year three onwards, hey,they seek me out, I'm getting
call-ins.
They're saying that they'veseen me on the review site on
the JustSold section.
So, on that, should real estateagents, apart from vendor-paid
(21:20):
advertising, should they belooking at investing in
agent-paid advertising toenhance and extend their brand?
John McGrath (21:33):
their brand.
It's funny this is one of thoseindustries where a lot of your
brand positioning can be donewhilst you're doing a great job
as agent marketer.
I'll give you an example justlisted cards.
They are actually important andbeneficial to a vendor, but of
course, they do, in a sense,promote you and your brand at
the same time as do just listed,just auction invites and then
(21:54):
just sold.
Well, the just sold probably isa cost for you.
So I do think you have to startinvesting, just like any
business.
You've got to, as soon as youshift from a mindset of an
employee to I'm a businesswithin a business.
I mean every business drycleaner, laundry, corner stores,
anything.
If you want to grow, you needto promote your service and your
products.
(22:14):
So, yeah, I think for sureyou've got to start doing that.
In fact, I think the next twolevels, tommy, which isently is
a really important and a greatway of doing it.
I think just the simple things,like you know just listed, just
(22:44):
sold, type of cards.
Really important, troy.
Troy Malcolm (22:48):
I think it actually creates a bit of
breakthrough.
When we get to this moment, tomand John, I think you've got to
really look at the quality ofthe team excellence standards,
because if you're doing theright thing out there, then you
probably won't need to do asmuch marketing as what you would
have done in the past.
When you're getting through tothis level, you do become that
household name and you do getpeople coming to you instantly.
(23:11):
Do become that household nameand you do get people coming to
you instantly.
I think, with some really smartmarketing initiatives, this is
where you can see one sale turninto four very quickly with a
campaign and that's what mostpeople should be focused on
doing great things.
I think of agents throughoutour group, john, that use social
media and video products veryintelligently around their just
sold and just listed properties.
Not only is it in the letterbox, but it's also online and
(23:34):
that's leaving a digitalfootprint, tom, that people are
looking and digesting, you know,months after the event, and I
think that that's a really smartstrategy to get that next level
of momentum and take you to thesuperpower teams you know, 2
million and above.
John McGrath (23:48):
It's a good point, troy, because we often talk
internally at McGrath aboutraving fans and to create raving
fans it costs zero, it's justeffort and interest and service
levels and attention to detailthose things.
And whilst a lot of people goand spend thousands a month on
newsletters and letterbox dropsand social media, their service
(24:10):
levels, which are far moreimpactful and cost nothing, are
often a bit substandard, youknow.
Then you go to one of theiropens and they're on the phone
and they're not particularlyattentive and you know, whatever
.
I think that the number onebrand positioning and the number
one marketing is always goingto be your attention to people
that you're serving in themarket.
So I think you're right, that'scritical.
(24:33):
And then that brings you to theleverage point.
You know, if you're up andaround the sort of 800k, a
million dollars, whatever, youknow you've got now, now you've
got a business that's bustling,that's got momentum, that's got
a bit of scale, that's gotenergy and it's really about.
You know how do you leveragethat level of momentum to go to
(24:55):
what we often call runawaysuccess?
Yeah, I think it's a reallygreat graph you've got there,
tommy.
I hope you can somehow put itup on your gym site.
Tom Panos (25:04):
Yeah, I'll put it up.
I'll even put it up on socialand on that last bit there, when
I look at the black belt andyou can't see it there team.
But just picture, black belt is2 million plus and the focus is
on team because there's only acertain amount of things a
single person is going to do.
So I sat through the REB top100, call out the names with
(25:28):
Phil Tarrin about three monthsago and there was one column
that had how many members werein the team as I was going
through the list 100, 99, 98,which, by the way,
congratulations.
I think there would have beenaround 30 people from McGrath on
that list when I was goingthrough it.
However, the observation I wantto make is it appears there was
(25:51):
not one person that was able todo 2 million plus without at
least two team members in theirteam.
One might have been workingtowards buyers and helping with
lead generation and another onewas doing more marketing and
admin.
That's when you start talkingabout epic levels in real estate
(26:13):
.
We could go through lots ofnames.
You could go to the REB Top 100and see them, but you will see,
the bigger the dream, thebigger the team.
John McGrath (26:23):
Yeah, and the last one team development, which
you'll see on the list when yougo to Tom's website.
When you're really in momentum,you're able to engage, hire and
and retain really good qualitypeople that become part of your
team.
But they're fully fledged andand very successful agents in
(26:43):
their own right and that's wherethese multi-million dollar
agents I mean, you know they'reall going to have quality people
at that level and a lot ofpeople are happy to work for an
Alex Jordan or a Matt Steinwayor, you know, gavir Rubenstein
they're looking to be mentoredand coached and they want to be
a part of a team.
So, yeah, I think it's a greatway to go forward and everyone
(27:05):
should check out this ladder.
Troy Malcolm (27:08):
When I was looking at that list, Tom, I was always
really keen to see how longthose associates and team
members had been retained bythose lead agents, because I
think you would find there's acorrelation between the success
of the agent and the part of histeam.
(27:30):
For probably as long as I canremember, there's a really good
synergy there between businessoperations, scale and senior
agents that are writing hugenumbers.
So lesson for everyone the teamthat you have, it's the pick
and stick mindset and developingthat team that's going to get
you scale and consistency aroundhitting $2 million plus GCI on
(27:51):
an annual basis.
John McGrath (27:53):
Yeah, good point.
Check it out at Tommy's websitebecause it's a fantastic
pathway to give everyone a senseof the way to go to build their
career.
Tom Panos (28:04):
All right, Gentlemen, it is good to see you again and
it is very good to know that.
Look, I don't know about you,but my experience in real estate
is July to December is always alot more volume than January to
June, and I think that we'reentering our state of origin
(28:25):
period in real estate.
We're only four weeks away froma lot, a lot of listings and
volume is high and I don't knowwhat it's like there at McGrath,
troy, but you can tell thereare a lot of auctions being
booked in at the moment.
John McGrath (28:42):
It's definitely on the up, definitely on the up.
Chase Harder and Criago threethat is.
I love that.
Tommy, three columns listings.
I'm chasing hottest buyers andmy current vendors.
There you go, guys, tommy.
Three columns listings.
I'm chasing hottest buyers andmy current vendors.
There you go, guys.
If you heard that today, that'sa great piece of gold.
Thanks, tommy.
Thanks a lot, troy.
Troy Malcolm (29:00):
See you, Tim.
Have a great week.
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