September 11, 2024 • 36 mins
Celebrate the spring selling season—a critical period in real estate stretching across September, October, and November. With spring signifying an extremely busy time in the real estate market, our hosts delve into the key elements of crafting an impeccable listing presentation. They explore essential strategies and insights that can lead agents to success during these lucrative months.
The discussion revolves around the three critical phases of a listing presentation: the pre-presentation, the actual presentation, and post-presentation strategies.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:04):
Tom Panos, john McGrath, troy Malcolm.
Welcome to spring.
This is our first springepisode.
Our first spring episode.
Good to see you.
This is one of our favoriteperiods in real estate.
Because we love being busy, welove the weather.
(00:24):
Because we love being busy, welove the weather.
We know that September, october, november is probably worth six
months in normal real estateland.
They're highly valued months.
Firstly, how are you both,gentlemen?
Speaker 2 (00:37):
Very good, tommy.
Good to see you, troy, good tobe back.
Speaker 3 (00:40):
Very good, spring has sprung, the weather's warm.
Speaker 2 (00:44):
Now we are talking, it is.
NRL and we're not going to gointo that because none of us
really have a chance.
Even the roosters are out withall their injuries.
I may as well be planning fornext year too, and, tom, you and
I definitely need to be, butthis is the grand final of real
estate really.
I mean, if you have a greatspring, it's going to take you
right through to list some greatproperties towards Christmas,
(01:07):
for the new year, and it's justgoing to give you an incredible
momentum for the whole of 2025.
So I think you know today we'regoing to touch upon, you know,
some of the things you can bedoing maybe the one percenters,
if you will, to get morelistings or get better listings,
you know, in terms of thelisting presentation.
But I think right now I wastalking to our mutual friend,
(01:29):
tommy John Hatz, the other dayfrom VSX, best signed boards in
the country, and you know he wassaying to me I think he did
about 460 boards last week andhe was saying it was a record
week for them for this yearanyway.
So clearly and he's always agood barometer because he does
most of the good companies inSydney a good barometer, there's
(01:50):
plenty of business around, solet's get into it.
Speaker 1 (01:53):
Yeah, and today our listeners are going to listen to
a 20-minute masterclass ondelivering an irresistible,
unstoppable listing presentation.
And the reason I picked thissubject today, gentlemen, is a
real estate gym member told anirresistible, unstoppable
listing presentation.
And the reason I picked thissubject today, gentlemen, is a
real estate gym member told methis morning that they have
missed six out of the last 11listings that came onto the
(02:16):
market.
And he then went on to say thatnot only is each fee 20 grand,
so that's 120.
He said to me that they werethe sort of properties that
would have been nice, propertiesthat would have attracted other
listings as well and otherbuyers.
Basically, they were pinnaclelistings.
(02:37):
So he said to me I actuallythink it's costing me $300,000.
And he says I'd love to sitdown and do a session with you
on a listing presentation.
He's been doing listingpresentation for years but, like
we all do, we can actuallysometimes cut corners when you
feel like you know the client,when you assume you're going to
(02:57):
get the business, when you arejust being a little bit
lethargic in your approach andwhat I've got on the screen you
can't see it viewers orlisteners.
But I want to look at the threecomponents to a listing
presentation the pre, the at thepresentation and the post.
(03:17):
In fact, john, I actually got alot of this information.
You used to draw up thisdiagram at all the listing
sessions you used to do for meat News Corp.
You used to draw up on thatwhiteboard that round circle and
I think you used to say 30, 40,30.
30 before, 40 on the day and 30post-listing.
Is that?
Speaker 2 (03:37):
right, yeah.
So Tommy that referred to and Ipinched that for my brother who
was a great ad man in the adindustry and of course, being an
ad man is really about pitchingfor new business all the time
as well and he said that theyhad a view that 30% of the
business they got was won orlost before the actual pitch.
It was how well you researched,how well you connected with the
(03:58):
CEO's, pa to understand andconnect with people and so forth
, and 40% no doubt the majoritywas what happened at the
presentation I mean, howcompelling you were and the 30%
was what happened afterwards,whereas I think a lot of people
in our industry they think it'slike 99% what you do at the
pitch.
(04:19):
So he gave me a new perspectivethat what you do before, as
well as during and thenimmediately after if you haven't
listed it at the listing isreally vital and incredibly
influential.
So 30-40-30 is just a goodlittle one for everyone to bear
in mind that there is work to bedone before and after.
Speaker 1 (04:38):
So, troy, let's kick it all off.
Let's look at the pre.
We're going to look at a fewbullet points on each part of
the presentation.
The pre is generally a lot ofthat work is actually done on
the phone call when you'resetting up the appointment.
But a lot of the other timesit's actually done leading up to
that, because great real estateagents, once they actually meet
(04:59):
a client, they then get thatclient and begin a
permission-based relationshipwith them.
They obviously go into theiragent box or their CRM system.
They then talk to them, theysend them text messages, they
send them emails and they'remaking sure that they're only
giving them information.
That's making them smarter.
No commission breath in thecommunication pieces and we know
(05:20):
that the more touch points youhave with someone prior to going
to a listing presentation, thehigher the probability that you
will get that listing if itcomes on to the market.
But a lot of it's actually doneon the time when you're setting
up the phone.
And you know great agents,great agents.
And I remember Matty Steinway.
I actually talk about MattSteinway in the presentation bit
(05:43):
because I plagiarized a form hehad called the Help Me, help
you form that gets a client tocomplete it.
So when he gets there, it'sanswered a lot of their
questions, their motives, thecriteria that they're going to
be selecting an agent, theirpast experiences.
Explain to me in your words,when you're setting that
appointment on the phone, whatare some of the things that
(06:12):
you're having a conversationwith.
Speaker 2 (06:13):
I just want to jump in Troy before you comment on
that.
It actually happens pre-pre,because one of the things you
should be talking about whenyou're actually with the client
is how well you follow throughbuyers and attentiveness and
world-class open for inspectionsand some of the things that are
points of difference.
Now, of course, you can't talkabout those unless you're
actually doing them, becausehalf the people you're going to
(06:34):
meet have met you in thosesituations.
So, just as a quick reminder toeveryone that if you're not
walking your talk 365 days ayear, if you're not greeting
everyone and holding every openfor inspection as a world class,
you can't use these as pointsof difference because someone's
thinking in their mind well,I've been to two of your opens
and you never call me back, sortof thing.
(06:54):
So I think we're always on showand it's just vital that at all
times we're at our best.
Troy, over to you.
Speaker 3 (07:02):
I was just going to say, john and Tom, our dear
friends at REA, also producedthat stat only a couple of years
ago to say that clients andpotential vendors are
researching us online anywhereup to 18 months before they send
an inquiry or a request for usto go out and see them
face-to-face.
They've done their individualresearch on that and I think
that's a really interestingpoint because it's kind of
(07:23):
reflective of exactly what youboth said.
Couldn't agree more.
Everything you do in the marketfrom the way you conduct
yourself at the local cafe tothe open for inspections, to
friends and family referrals andpast clients actually leads you
up to the pre-comment, becauseto get on the shopping list, you
have to not only have theresults but you also have to be
the attraction agent, tom, thatyou would talk about so well to
(07:44):
get on that shopping list.
So, leading up to theappointment, I think it's you
know, it's pre-pre, like Johnsaid, and then when you get to
the pre, I think you've got tohave the strategy set out and
setting expectations to makesure you've got a diligent
process, that you take themthrough to make sure that you're
not missing anything before youget to see them face to face
key thing early on, I think, isuh, what, what one is?
Speaker 2 (08:08):
you know you're on your game and and you know you
sound like you're on game two isyou've got to obtain their
price expectation as early aspractical in the whole process,
because the closer you are tothe listing, presentation and
the discussion on price, theless likely they are.
So I always one of the keyquestions is, tom, if you've got
a couple of minutes, I'd justlike to ask you some questions.
(08:28):
So when we meet I'm bestprepared to really service your
needs.
First thing is can you give mea bit of a ballpark estimate on
what the property might be worth, because I want to do some
relevant research before we meetso we can actually go through
together the right comparablesales and have a value
discussion.
So I find and a lot of peoplesay, oh, they don't want to tell
(08:51):
me.
Well, it depends how you ask itand how early.
If you're there and you askthem in the lounge room, what do
you think it's worth?
They're probably not going totell you.
They'll say, well, you're here,you may as well tell me.
But I do find if you pose yourquestions in the right way early
enough and price is a criticalone because, let's face it, one
of the things that most agents,or many agents, get caught up on
is dealing with pricingcorrectly.
(09:13):
So I think that's reallyimportant, troy.
Speaker 3 (09:17):
The other thing is, John, that very early on as well
, you want to make sure that allthe decision makers are there
and I know that that's kind ofan obvious one.
But, Tom, you mentioned veryearly on in this interview about
sometimes we fall into thecomplacent trap and lethargic
trap of just going through themotions and, I think, going
through and having a set seriesof questions where you're making
(09:38):
sure you're qualifying that notonly you're going to get it as
the sellers now they're notfuture sellers with a price
update you're getting the priceexpectations.
But then the third part of thatis understanding that all
decision makers are going to bethere to make the decision at
the listing presentation andmaking sure you're setting up
the success.
Speaker 1 (09:57):
So I think, gentlemen , that there are four or five
questions that should not benegotiable.
They should be imperative thatyou ask, but not ask them as if
you're on 60 Minutes in a yarnevent.
You know a very clinical way.
They've got to be seamless andI just want to share the ones
(10:17):
that I think are very, veryuseful, ones that I think are
very, very useful.
On price, by the way, john, Istill remember that in the old
days I just used to look at RPdata and I'd actually say on the
phone call when I come out tosee you, what I'd love to do is
to bring properties that areapples with apples.
(10:38):
Now I don't know exactly whatthat is, but I've actually just
opened up your property on RPData and it's telling me 900 to
a million.
Now I want to let you know it'sprobably about 75% accurate.
Often I find that sometimesowners' homes are more than that
.
Sometimes they're a little bitlower.
If I were to bring comparablesfrom 900 to a million that we
(11:01):
could look at them, look at thephotos.
You think that's a wide enoughspread, or should we go beyond
that or underneath that and justshut up and listen to what they
say?
Because I think, um, orsometimes, if they, you know,
said, oh, we saw the one you haddown the road, you can ask them
oh, how's that one compared toyours, right?
And you can get into thisconversation where you're
(11:21):
finding it out.
The second question that I thinkis really useful is asking them
have you made the decision thatyou're going to be appointing
an agent in the near future?
It's a good question becauseit's working out whether they're
a price update early stages orwhether they're actually selling
and they have a reason thatthey've got to sell their
(11:41):
property.
A third question, following upon what Troy said, is I find
that most owners like to bepresent Apart from yourself.
Is there any other people thatshould be involved in this
conversation?
And that's the sort of nice wayof trying to get decision
(12:02):
makers there.
Probably the last question Iwould say that's very useful to
be asking in that conversationon the phone is have they ever
sold the property before andwhat did it feel like?
How did it go?
Because if they've had a badexperience with an auction or if
they've had a terribleexperience, you want to find out
from them what they hate andwhat they like in that
experience that they've solvedbefore.
Speaker 2 (12:23):
Yeah, yeah, no, that's right, and I think
there's some good questionsthere.
One that I don't like asking,and it could be conflicting with
what you guys think, but a lotof people say how many agents
are you seeing?
I find that's intrusive, yeah.
Speaker 1 (12:40):
It's their business, isn't it John?
That's right, intrusive, if Iwas thinking of selling.
It's their business, isn't itJohn?
Speaker 2 (12:43):
It's their business.
You sort of yeah, that's right,so I don't like to ask that.
And the other thing is, itsounds a bit defensive, it's
like I'm starting to focus on mycompetitors.
So for me and again, I'm notsaying I'm right and anyone else
that does that is wrong I'mjust saying there is a reason
that I don't ask, there is areason that I don't ask.
And how many other people, tom,are you and Sue going to be
interviewing?
You know, I just don't thinkit's my business or it's
(13:05):
relevant.
The one question, the otherquestion I do ask, though, is
and again I'm referring toCoreLogic.
As you are, tom, while we're onthe phone, I'll say Tom, I've
noticed you've been there for 12years.
Have you made many majorcapital improvements since
you've been there?
So I'm kind of wanting to ohyeah, we put a second story on,
or we gutted the whole place andstarted again, because
(13:25):
CoreLogic is going to be morerelevant if they haven't made
any major capital improvements,because CoreLogic wouldn't know
if you have.
So I often will just, you know,get a bit of a sense on, you
know, any major renovations, anyextensions, just to get a bit
of a sense as to how relevantthe actual, because core logic,
as most people would know, allit does is it tracks the
movement in the suburb and itapplies that movement to how
(13:47):
long you've been there and howlong the suburb's grown, which
is probably brilliant if youhaven't made any major
improvements.
But if you spend a milliondollars demolishing the old
house or putting a second storyon, you know that's no longer
relevant.
So, yeah, I think, work outwhat questions work for you and
in your market, but I think thepricing one is non-negotiable.
(14:08):
That's critical for sure.
And then just work out, buthave two or three questions at
least, because you know this isa big appointment, it's
important.
So you've got to make sure youequip yourself with a little bit
of detail before you visit.
Speaker 1 (14:23):
Yeah, and I was going to say and our listeners can't
see it, but I've got two bulletpoints there Digital
introduction and buy a match.
We are living in an era, hightech, high touch.
We're not asking you to usetechnology to substitute you,
but you should complimentyourself.
Substitute you, but you shouldcompliment yourself.
(14:43):
And if you can do somepersuasion by sending out a good
pitch report from a realtor orany of the ones that people use
it it.
I remember robert caldini ataric five years ago, just before
he went on stage, he waswriting a book um a second book.
The first book was calledinfluence.
The second book he was writingwas a book called Persuasion and
he actually said that there's alot of selling done prior, as
(15:06):
your brother talks about, priorto the meeting, you're getting
information and you're actuallypriming the client for what's
coming next.
So sending out a digital introand also the buyer match and
(15:27):
Alexander Phillips does it verywell, where he actually goes to
the appointment with clearlydefined buyers that he has
matched with the details he'sbeen given on the phone
regarding the property and heactually says you know, mr and
Mrs Vendor I actually want totalk about two or three people
I've got at the moment that Ithink are going to be high
probability potential buyers onyour home.
Speaker 2 (15:44):
So I think if you do that.
Yeah, there's one other one,tommy, that I know, adrian Bow,
when he was selling and he gotit from one of the early ARICs
was that he would pre-deliver ordrop around in advance.
He would send a booklet of allthe testimonials from all
previously delighted clients andyou know they had ended up
(16:04):
being 250 or something.
It was very thick, you know,sort of later in his career,
obviously, and he would deliverthat around and just pop it in
saying looking forward tomeeting you.
In the meantime I thought youmight like to, you know, read
some of the comments thatprevious clients that have used
my services have made about me,and then the other would be on
their letterheads, you know, andwhat they said and the property
(16:25):
they sold, and so that was alsoquite good.
So I think, again, you've gotto work out what works for you,
what works in your market, butthese are just ideas that could
be the things that put you aheadof the pack.
Speaker 1 (16:37):
Yeah, shannon Whitney in the real estate gym.
He once did a webinar for meand then he attached a document
that he sends out.
It was very, very simple.
It was a one-page, basically anExcel document that said my
last 100 sales name, address,mobile number, feel free to call
(16:57):
the clients.
Yeah, and I actually asked him.
I said, um, do you tell yourclients that they're going to
get a phone call?
He says yes, I do.
I said did they ring him?
He says hardly, but he goes.
The power in it is yourvulnerability and courage to be
able to say um, here are all mylast hundred sales.
(17:18):
Have a chat with people.
Speaker 2 (17:21):
Yeah, exactly right, that's a very good one.
And I think that agent reviewsand you know we spoke about Troy
mentioned it before I waslooking at an agent the other
day, a guy that I actually wouldlove to work with and was going
to reach out to him, and I wentto his profile and he had 157
agent reviews on well.
I wrote my agent on one of thebig sites and they're all five
(17:41):
star.
And I went to his profile andhe had 157 agent reviews on well
.
I wrote my agent on one of thebig sites and they were all
five-star and I thought, youknow, impressive.
The bit I thought was mostimpressive is he had a system to
ask and capture and post these.
Now I know that a lot of thesesites the people only ever get
invited.
The ones that you know aregoing to be pretty likely to
give you a five-star rating andanyone that's been disgruntled
probably never gets an invite.
(18:03):
I get that.
So maybe it's skewed a littlebit, it's a little bit
rose-colored glasses, but Istill acknowledge there's a
system in place and there'sstill 157 people that were
prepared to give him a five outof five.
So even if there were five or10 that didn't get the invite.
It's still quite impressive.
So I think again, 1% is whatare the little things you can
(18:23):
stack together to put yourselfahead of the rest?
Okay perfect.
Speaker 1 (18:28):
So you've done the pre.
You've collected someinformation.
You've done what a good doctordoes, and that is diagnose
before they go up and prescribea solution.
You've collected the facts.
You're now at the listingpresentation.
Let's talk about when you'reactually there.
The first 20 seconds mattersbecause, whether we like it or
(18:50):
not, we do seem to quickly cometo an assumption on someone very
early in the piece.
Often it's the way that they'redressed, often it's the way
that they behave getting therehave they got there on time?
When the door opens, what theylook at, do they feel like it's
a likable person and, mostimportantly, showing that you've
(19:12):
got there on time.
There are some listing agentsthat are chronically late to
listing presentations.
They've made late a habit.
Speaker 2 (19:21):
Yeah, I used to be the opposite, tommy.
I'd find that if I got there 10minutes before, I could sit
quietly and visualize which Iused to do every listing
presentation.
I would quietly sit in my carand visualize meeting the client
, having a great meeting, havinga great tour of the property,
having good rapport and askingfor the business and getting the
go-ahead.
And it didn't always happen,but I got to tell you.
(19:43):
I think just being there andbeing in a calm state and having
a positive visualization in mymind went a long way towards
helping me get a lot of thebusiness I got.
Having a positive visualizationin my mind went a long way
towards helping me get a lot ofthe business I got.
Speaker 1 (19:54):
So I'll tell you an interesting thing about taking
shoes on.
So, sula, we don't wear shoesat home right.
We've never for 30 years wedon't wear shoes at home right.
And whenever we havetradespeople come over, sula
gets a connection and affinity.
The minute a tradesperson says,would you like me to take my
(20:16):
shoes off, straight away shefeels like this person is going
to pay attention, he's going totake care of the asset that we
own, he's not going to be clumsyand dirty, he'll clean up when
he's finished.
Obviously, tidiness is an issue.
I think real estate agentsshould actually be mindful, and
I know that I don't know.
(20:36):
I think maybe 80% of peoplewear shoes in a house, but I
think about 10% or 20% don'twear shoes in a house.
I think the first few secondsyou should actually offer that
to every one of your vendors.
Should I take my shoes off?
Speaker 2 (20:59):
Yeah, I think that's attention to detail, it's
respectful.
Yeah, In fact, I usuallyactually say do you mind if I
take my shoes off?
Because most of the timethey're not wearing shoes and
you'll see a lot of theproperties we get invited into.
They're nice properties,They've got nice polished
floorboards, they've got, youknow, beautiful quality carpet.
So yeah, I think that's anotherone percenter.
The thing I don't think wementioned yet, Tommy, was SMS
confirmation the morning of.
(21:20):
It's possible they've forgotten, Maybe it slips through their
diary, Maybe they've got achaotic morning and they might
have to reschedule.
So I always just do a quicklittle, looking forward to
seeing you at 2.30 pm thisafternoon.
If you have any challenges,just let me know in advance.
Otherwise, see you at 2.30.
And I find a gain to 1% man.
Speaker 1 (21:40):
Okay, let's talk about the presentation You're
going through.
Normally the way it looks likeis you do a guided tour of the
property.
Most agents that I ask tell methey start off with the tour and
they don't sit down first,unless it's a very small one
bedroom bedsitter where youcan't really build rapport and
(22:01):
get to know a client if they'rejust going to spend one minute
saying here's the unit.
Most people it's a bit of aguided tour.
Finding common denominatorsobviously is something that is
basic 101, sales and influence.
If you can connect with someone, finding things that are in
common, whether you know there'sa Roosters jersey up there on
(22:23):
the wall, or you see golf clubsaround there, or you see a
university degree up on the wallfrom the same uni, or whether
the kids go to a school thatyou're aware of or your kids go
to school.
So I just want to ask both ofyou what are some of the other
things that you think are worthmentioning here before you sit
(22:44):
down at the dining room and havethat sit down, talk the proper
business, talk Any other thingsthat you can think of.
Speaker 2 (22:51):
I always like to get permission and check that
they're okay if I start takingnotes, which of course everyone
says, yes, but I like capturingnotes when someone says
something about their propertyor about their situation.
That I think is going to helpme later on should I get the
listing.
I'm trying to capture that down.
This was done by Burleigh, kateand Halliday in the late 1980s.
(23:11):
I'll just take a note of thatbecause I just find the process
of taking notes with people isreally important.
Second one is just be curious.
A lot of people, a lot of agentsI know, especially like the
three of us, those that havecome from the wrong side of the
tracks.
They get intimidated by goinginto people's home and there's
some amazing painting on thewall or there's some great
(23:33):
collection of sculptures, anddon't be afraid to say you know
that is a beautiful painting.
Would you mind if I ask who didit?
And you know what's the contextor what's it about.
So don't be nervous.
You know people likeauthenticity.
In fact I think it's one of thekey skills at a listing
presentation is being authentic.
So if there's something therethat you know you find it
(23:55):
interesting it's not toopersonal, obviously.
You know, don't feel afraid toask them a bit more about it.
And you know I've never seenthis kitchen before.
It's a beautiful kitchen.
Do you mind if I ask who is thedesigner or the manufacturer?
Just little things like that toeducate yourself.
Take the notes.
Yeah, build the rapport, butdon't be too cheesy about it.
There are some agents that wentto sales one-on-one workshop
(24:17):
and they asked the most obviousquestions and it's kind of like
you know you can feel thevendor's eyes rolling in the
back of their head.
Yeah, I think you're right.
Speaker 1 (24:26):
Sorry, go Troy.
Speaker 3 (24:28):
I just think it's the genuine questions.
If you see something that youhaven't seen before or there's
something a little bit unique,it's like oh so can you tell me
about that, like what attractedyou to that piece?
If it's an artwork, or ifthere's, you know, a piece of
sporting equipment or somethingthat's a little bit unique and
unusual that you know yougenuinely kind of well, what's
that and how did you come acrossit?
(24:48):
People love talking about thedetails of their home.
They're very proud of it and Ithink you know, the more genuine
you are and the more authentic,like John was saying, you can
definitely build a lot moretrust and rapport very quickly
if you show that vulnerabilityof trying to get a really clear
understanding.
The other one is, tom, that youknow we take for granted and
underestimate the amount oftimes we do walk through
(25:09):
properties and we go through thelisting process.
For a lot of the times whenwe're sitting down with the
vendors or that we're openingthe front door and we're seeing
them for the first time, theyactually don't know the process
that much.
They don't have a lot ofexperience, so kind of giving
them a bit of a guide to saywhat we normally do or what we
like to do.
Is that okay?
And asking him for thatpermission to do the tour of the
home and take notes, like Johnsaid, can sometimes give them
(25:31):
comfort because you get awayfrom that awkwardness of so what
do we do?
Do you sit down, or do you giveme a proposal, or do you come
into the house or do we standoutside?
What is the go with the listingpresentation?
Speaker 1 (25:42):
That's a very, very good point.
Very good point, troy.
I find that question therediscovering invisible value.
If you want to get a client totalk a lot more than what, you
ask them an incredible questionand you'll get an incredible
response.
And I don't know where Iplagiarized that question, but
(26:03):
it was at the presentation.
Say, as you're going through theproperty, mr and Mrs Vendor,
I'd love it if you're able tohighlight and describe the
invisible value that's notobvious to the eye, because if
you can actually share that withme, I'm going to be able, down
the track, if I have theopportunity, to share that with
(26:24):
the buyers.
And that would be an extra 5%to 10% on the value of your home
that we can't see the eye 10%on the value of your home that
we can't see the eye.
And I think, as you said, troy,I heard Tom Hopkins 30 years
ago say be an interestedintrovert, not an interesting
(26:44):
extrovert In sales.
Be the listener.
People adore and love peoplethat are listening to them.
So you've got to ask questions,otherwise you won't be
listening.
Speaker 2 (26:55):
Michael Paglia, one of the best agents in the
country, no doubt constantlycurious, loves asking questions,
enthusiastically, listens.
When he's listening andwatching, you can tell that he's
nodding his head and smiling.
He's actually loving theresponse and he's loving being
educated and he's yeah, it's oneof his great skills is he's
(27:17):
just got this wonderful power oflistening.
The way he does it it's, youknow, it's a real skill.
Speaker 1 (27:22):
Yeah, so we're not going to spend a lot of time on
this podcast talking about thehouse maximisation plan, but
what we will just say is that iscritical.
Like we've said it before, wecan talk about all our awards,
we can talk about our history,we can talk about biography, but
what really a client caresabout is how will you get me
(27:45):
more money for my home thanother people that work in real
estate in this marketplace?
How is my home worth more moneywith you?
And you need a plan, and plansinvolve you talking about
marketing.
They involve you talking aboutyour process.
I think, john, back in the NewsClub days, you used to have the
(28:06):
house maximization plan in onesentence.
It was, you know, emotionalconnection plus world-class
marketing plus competitivebidding.
Speaker 2 (28:18):
Yeah, it was more exactly it was the more buyers
that are emotionally connectedin a competitive tension state
is going to, you know.
So I used to make it into aformula MB, more buyers plus EC
emotionally connected plus IC incompetition equals HPP, highest
possible price, and that justsort of, I guess in your
(28:39):
writer's sentence outlined howare we going to get the most?
Now then you've got to dig into.
So how do we get more buyers?
How does one get thememotionally connected?
What are the methods to createcompetitive tension?
And I think maybe next to oneof the upcoming podcasts, how
does one get them emotionallyconnected, what are the methods
to create competitive tension?
And I think you know, maybenext to one of the upcoming
podcasts, we can definitely diginto that.
But just on this one, before wekind of finish off on this one,
(29:01):
tommy, a couple of things cameto mind for me as we were
talking.
I just jotted them down.
Number one it's more importantto be compelling than
comprehensive.
A lot of agents, you know, andI like attention to detail and I
do like sort of a plan and anagenda and all that good stuff,
but we've got to be careful wedon't get too caught up in it,
because if you try and give themevery single thing you know
(29:23):
about selling the property, youactually become overwhelming and
you oversaturate them and theybecome fatigued and they don't
know what to remember becauseyou've told them 150 things.
So I think, pick out what arethe three or four points about
your business that you believewill help them maximize price,
what are the three or fourthings about the specific
property that you'll focus onduring the sale process, and
(29:45):
just don't try and have 27points of benefit.
And here are my 112 items ofadvantage.
I think that was one.
The other one was preparationis free.
These are just two of myfavourite sayings.
Preparation is free.
Guys, most of the preparationwe're talking about, it's not
money, it's just a few extraminutes, or even half an hour,
an hour before a meeting, aftera meeting, preparing and
(30:09):
following through.
These are the things thatreally matter.
So I just wanted to add thosetwo before we kind of clocked
off, because I think it'simportant.
But we should do a pricemaximisation revisit.
I think it would be good tosort of talk through the process
and you know what are some ofthe points of difference and
everyone's going to be different, by the way, not everyone's
going to have the same points ofdifference, but thank God.
(30:31):
But certainly, you know, we canshare some of the ones that we
use and we've heard others usethat we think are really good.
Speaker 1 (30:40):
Yeah, you know, John, as you're talking, I was
thinking about in Byron about ayear ago with Maddie, and she
went into a dress shop to buy adress, and I was sort of hanging
around at the front of the doorand she saw a dress.
She goes this is the one I want, right?
And the sales assistant goesyeah, it's beautiful, isn't it?
(31:00):
And the sale was there, it wasdone and finished, and then she
turned around and she said ohlook, let me show you one that
looks very similar to this aswell.
Right, so she shows up, shegoes, but I don't have that size
on.
And then the next thing youknow is oh, I'm confused now,
Daddy, I don't know.
Speaker 2 (31:21):
Talked away out of a sale.
You're right.
Speaker 1 (31:23):
Talked away out of a sale.
Speaker 2 (31:24):
you know, once you've got agreement, stop selling and
start signing it all up.
Yeah, Okay.
Speaker 1 (31:33):
So agreement, stop selling and start signing it all
up, okay.
So look, let's just touch oneor two minutes.
You don't sign it up.
They're not ready, right?
And the last thing we, as threepeople, we are not high
pressure, bully, fast talking,commission breath approach.
We do believe in closing, we dobelieve in making it easy for a
client to say yes, but thereare certain times when clients
(31:53):
are not ready to do business andyou've got to work with them at
their pace.
What are your views that youknow you walk away from the
listing presentation.
They say, look, we need a bitof time.
You know we're still doing ourdue diligence.
We're talking to people.
What do you do over the nextone or two weeks without coming
(32:13):
across as having dual breath?
Speaker 2 (32:17):
Well, for me it's over the next few hours, or
certainly one or two days,because I do think at that point
, if you sense that they are indecision-making mode, I think
you don't want to leave it toolong, you want to get back on,
and so I always go back throughmy notes and I'm thinking what
were the items that were raised,what were the concerns, what
were the questions?
And then I try and get back tothe owners as quickly as
(32:40):
possible with you know, by theway you're asking me about this,
I've done the research here'sthat you wanted to find a good
plumber that could fix this.
You know I mentioned my stylist.
Here's their number.
I rang them in advance.
They're happy to look after youas a VIP client, just what was
discussed or raised during thelisting presentation, that you
(33:01):
can go back to them and givethem some more information, and
I find that is really important.
So bespoke, relevant, topicaland fast.
I think you want to getstraight back on.
So many times you leave at 48hours and you ring them up and
they signed with someone elsethe day after you went there
because you know the otherperson showed enthusiasm, sense
(33:23):
of urgency.
They popped an agreement, youknow, in their inbox and they
got the business yeah.
Speaker 3 (33:29):
Troy.
For me it's yeah, it's exactlythat, tom.
It's follow through, follow upand follow back straight away
and then leverage and rethink.
What have you missed or whatquestions did they not cover off
that they did cover off.
Sorry that you can get back infront of them or at least have a
conversation with them.
It's really articulating yourkey systems and making sure that
they understand why that pointof difference is the thing
(33:52):
that's going to maximize theirresult.
But again, it's not being toopushy, it's just an education
point of view and staying intouch with them and making sure
that you're there, you know,champion not only them and the
result they're looking for, butalso the benefit of working with
you as a, you know, the agentof attraction in the market.
Speaker 1 (34:08):
Okay, gentlemen, I want to thank you so much.
A very important subject,because without a listing we
have zero in real estate and weknow that every time a listing
does go on the market there arefar more real estate salespeople
available for the number oflistings there are in the market
, but I think there's not enoughgreat real estate agent for the
(34:30):
number of listings there in themarket and that's why real
estate's the highest paid hardwork, the lowest paid easy work
and it's not split evenly.
You'll probably find and Iwouldn't be surprised if it's
the same in mcgrath that youknow uh, 30, maybe percent of
the agents in an office end updoing most of the volume, and
(34:51):
having a great listingpresentation is critical.
Gentlemen, I asked you lastweek I want to see whether
you've changed your view uh, afl.
Uh, sydney swan's incrediblevictory, incredible victory
against the giants.
Last minute stuff, um, wouldyou change your view?
Speaker 2 (35:12):
afl, nrl, tip, the grand final winners no, no, I
think there's only two can winthe uh now with the roosters
with their injuries.
I think there's only two canwin the nrl, despite people's
talking about canterbury and anda few others.
I think it's penrith or storm,but I think I went for penrith,
I think you went for storm trosy, from memory, and I think we
(35:33):
all went for the swans and Ireckon we're all on winners
there.
Speaker 1 (35:38):
Yeah, troy troy, troy , troy, troy hasn't.
Troy wants to open up his mouthand actually say hang on a
second here.
Do you think the Roosters arestealing with a chance, troy?
Speaker 3 (35:48):
It's challenging Any key position.
It's like in real estate, anykey position that you lose at
this crucial moment.
It's like going into a listingpresentation losing the key
agent that's doing the listingpresentation before you go in.
You can't lose your hooker.
You can't lose your halfback atthis time of the year and
regroup Now.
I'm happy to be proven wrongand I'd be the first person to
say I was wrong if they go awayand win it.
Speaker 2 (36:09):
Troy, troy, troy, cut the crap.
I got no chance.
Very difficult, very difficult.
I got no chance.
Speaker 1 (36:14):
And Troy you want to make it worse.
The truth is, both your twoco-hosts also don't like your
team.
Speaker 3 (36:23):
Yes that's exactly right, you know, the good thing
is they're in the finals andthere's a chance.
Anyone that gets to this pointthere's a chance.
Speaker 2 (36:34):
They've got a better chance of the Tigers than the
Rabbitohs, for sure, but afterthat beyond that they have no
chance.
But good luck to them anyway.
Speaker 1 (36:45):
See you next week, gentlemen.
Speaker 3 (36:48):
Thanks guys, Bye.
Tom Panos, john McGrath, troy Malcolm.
Welcome to spring.
This is our first springepisode.
Our first spring episode.
Good to see you.
This is one of our favoriteperiods in real estate.
Because we love being busy, welove the weather.
(00:24):
Because we love being busy, welove the weather.
We know that September, october, november is probably worth six
months in normal real estateland.
They're highly valued months.
Firstly, how are you both,gentlemen?
Speaker 2 (00:37):
Very good, tommy.
Good to see you, troy, good tobe back.
Speaker 3 (00:40):
Very good, spring has sprung, the weather's warm.
Speaker 2 (00:44):
Now we are talking, it is.
NRL and we're not going to gointo that because none of us
really have a chance.
Even the roosters are out withall their injuries.
I may as well be planning fornext year too, and, tom, you and
I definitely need to be, butthis is the grand final of real
estate really.
I mean, if you have a greatspring, it's going to take you
right through to list some greatproperties towards Christmas,
(01:07):
for the new year, and it's justgoing to give you an incredible
momentum for the whole of 2025.
So I think you know today we'regoing to touch upon, you know,
some of the things you can bedoing maybe the one percenters,
if you will, to get morelistings or get better listings,
you know, in terms of thelisting presentation.
But I think right now I wastalking to our mutual friend,
(01:29):
tommy John Hatz, the other dayfrom VSX, best signed boards in
the country, and you know he wassaying to me I think he did
about 460 boards last week andhe was saying it was a record
week for them for this yearanyway.
So clearly and he's always agood barometer because he does
most of the good companies inSydney a good barometer, there's
(01:50):
plenty of business around, solet's get into it.
Speaker 1 (01:53):
Yeah, and today our listeners are going to listen to
a 20-minute masterclass ondelivering an irresistible,
unstoppable listing presentation.
And the reason I picked thissubject today, gentlemen, is a
real estate gym member told anirresistible, unstoppable
listing presentation.
And the reason I picked thissubject today, gentlemen, is a
real estate gym member told methis morning that they have
missed six out of the last 11listings that came onto the
(02:16):
market.
And he then went on to say thatnot only is each fee 20 grand,
so that's 120.
He said to me that they werethe sort of properties that
would have been nice, propertiesthat would have attracted other
listings as well and otherbuyers.
Basically, they were pinnaclelistings.
(02:37):
So he said to me I actuallythink it's costing me $300,000.
And he says I'd love to sitdown and do a session with you
on a listing presentation.
He's been doing listingpresentation for years but, like
we all do, we can actuallysometimes cut corners when you
feel like you know the client,when you assume you're going to
(02:57):
get the business, when you arejust being a little bit
lethargic in your approach andwhat I've got on the screen you
can't see it viewers orlisteners.
But I want to look at the threecomponents to a listing
presentation the pre, the at thepresentation and the post.
(03:17):
In fact, john, I actually got alot of this information.
You used to draw up thisdiagram at all the listing
sessions you used to do for meat News Corp.
You used to draw up on thatwhiteboard that round circle and
I think you used to say 30, 40,30.
30 before, 40 on the day and 30post-listing.
Is that?
Speaker 2 (03:37):
right, yeah.
So Tommy that referred to and Ipinched that for my brother who
was a great ad man in the adindustry and of course, being an
ad man is really about pitchingfor new business all the time
as well and he said that theyhad a view that 30% of the
business they got was won orlost before the actual pitch.
It was how well you researched,how well you connected with the
(03:58):
CEO's, pa to understand andconnect with people and so forth
, and 40% no doubt the majoritywas what happened at the
presentation I mean, howcompelling you were and the 30%
was what happened afterwards,whereas I think a lot of people
in our industry they think it'slike 99% what you do at the
pitch.
(04:19):
So he gave me a new perspectivethat what you do before, as
well as during and thenimmediately after if you haven't
listed it at the listing isreally vital and incredibly
influential.
So 30-40-30 is just a goodlittle one for everyone to bear
in mind that there is work to bedone before and after.
Speaker 1 (04:38):
So, troy, let's kick it all off.
Let's look at the pre.
We're going to look at a fewbullet points on each part of
the presentation.
The pre is generally a lot ofthat work is actually done on
the phone call when you'resetting up the appointment.
But a lot of the other timesit's actually done leading up to
that, because great real estateagents, once they actually meet
(04:59):
a client, they then get thatclient and begin a
permission-based relationshipwith them.
They obviously go into theiragent box or their CRM system.
They then talk to them, theysend them text messages, they
send them emails and they'remaking sure that they're only
giving them information.
That's making them smarter.
No commission breath in thecommunication pieces and we know
(05:20):
that the more touch points youhave with someone prior to going
to a listing presentation, thehigher the probability that you
will get that listing if itcomes on to the market.
But a lot of it's actually doneon the time when you're setting
up the phone.
And you know great agents,great agents.
And I remember Matty Steinway.
I actually talk about MattSteinway in the presentation bit
(05:43):
because I plagiarized a form hehad called the Help Me, help
you form that gets a client tocomplete it.
So when he gets there, it'sanswered a lot of their
questions, their motives, thecriteria that they're going to
be selecting an agent, theirpast experiences.
Explain to me in your words,when you're setting that
appointment on the phone, whatare some of the things that
(06:12):
you're having a conversationwith.
Speaker 2 (06:13):
I just want to jump in Troy before you comment on
that.
It actually happens pre-pre,because one of the things you
should be talking about whenyou're actually with the client
is how well you follow throughbuyers and attentiveness and
world-class open for inspectionsand some of the things that are
points of difference.
Now, of course, you can't talkabout those unless you're
actually doing them, becausehalf the people you're going to
(06:34):
meet have met you in thosesituations.
So, just as a quick reminder toeveryone that if you're not
walking your talk 365 days ayear, if you're not greeting
everyone and holding every openfor inspection as a world class,
you can't use these as pointsof difference because someone's
thinking in their mind well,I've been to two of your opens
and you never call me back, sortof thing.
(06:54):
So I think we're always on showand it's just vital that at all
times we're at our best.
Troy, over to you.
Speaker 3 (07:02):
I was just going to say, john and Tom, our dear
friends at REA, also producedthat stat only a couple of years
ago to say that clients andpotential vendors are
researching us online anywhereup to 18 months before they send
an inquiry or a request for usto go out and see them
face-to-face.
They've done their individualresearch on that and I think
that's a really interestingpoint because it's kind of
(07:23):
reflective of exactly what youboth said.
Couldn't agree more.
Everything you do in the marketfrom the way you conduct
yourself at the local cafe tothe open for inspections, to
friends and family referrals andpast clients actually leads you
up to the pre-comment, becauseto get on the shopping list, you
have to not only have theresults but you also have to be
the attraction agent, tom, thatyou would talk about so well to
(07:44):
get on that shopping list.
So, leading up to theappointment, I think it's you
know, it's pre-pre, like Johnsaid, and then when you get to
the pre, I think you've got tohave the strategy set out and
setting expectations to makesure you've got a diligent
process, that you take themthrough to make sure that you're
not missing anything before youget to see them face to face
key thing early on, I think, isuh, what, what one is?
Speaker 2 (08:08):
you know you're on your game and and you know you
sound like you're on game two isyou've got to obtain their
price expectation as early aspractical in the whole process,
because the closer you are tothe listing, presentation and
the discussion on price, theless likely they are.
So I always one of the keyquestions is, tom, if you've got
a couple of minutes, I'd justlike to ask you some questions.
(08:28):
So when we meet I'm bestprepared to really service your
needs.
First thing is can you give mea bit of a ballpark estimate on
what the property might be worth, because I want to do some
relevant research before we meetso we can actually go through
together the right comparablesales and have a value
discussion.
So I find and a lot of peoplesay, oh, they don't want to tell
(08:51):
me.
Well, it depends how you ask itand how early.
If you're there and you askthem in the lounge room, what do
you think it's worth?
They're probably not going totell you.
They'll say, well, you're here,you may as well tell me.
But I do find if you pose yourquestions in the right way early
enough and price is a criticalone because, let's face it, one
of the things that most agents,or many agents, get caught up on
is dealing with pricingcorrectly.
(09:13):
So I think that's reallyimportant, troy.
Speaker 3 (09:17):
The other thing is, John, that very early on as well
, you want to make sure that allthe decision makers are there
and I know that that's kind ofan obvious one.
But, Tom, you mentioned veryearly on in this interview about
sometimes we fall into thecomplacent trap and lethargic
trap of just going through themotions and, I think, going
through and having a set seriesof questions where you're making
(09:38):
sure you're qualifying that notonly you're going to get it as
the sellers now they're notfuture sellers with a price
update you're getting the priceexpectations.
But then the third part of thatis understanding that all
decision makers are going to bethere to make the decision at
the listing presentation andmaking sure you're setting up
the success.
Speaker 1 (09:57):
So I think, gentlemen , that there are four or five
questions that should not benegotiable.
They should be imperative thatyou ask, but not ask them as if
you're on 60 Minutes in a yarnevent.
You know a very clinical way.
They've got to be seamless andI just want to share the ones
(10:17):
that I think are very, veryuseful, ones that I think are
very, very useful.
On price, by the way, john, Istill remember that in the old
days I just used to look at RPdata and I'd actually say on the
phone call when I come out tosee you, what I'd love to do is
to bring properties that areapples with apples.
(10:38):
Now I don't know exactly whatthat is, but I've actually just
opened up your property on RPData and it's telling me 900 to
a million.
Now I want to let you know it'sprobably about 75% accurate.
Often I find that sometimesowners' homes are more than that
.
Sometimes they're a little bitlower.
If I were to bring comparablesfrom 900 to a million that we
(11:01):
could look at them, look at thephotos.
You think that's a wide enoughspread, or should we go beyond
that or underneath that and justshut up and listen to what they
say?
Because I think, um, orsometimes, if they, you know,
said, oh, we saw the one you haddown the road, you can ask them
oh, how's that one compared toyours, right?
And you can get into thisconversation where you're
(11:21):
finding it out.
The second question that I thinkis really useful is asking them
have you made the decision thatyou're going to be appointing
an agent in the near future?
It's a good question becauseit's working out whether they're
a price update early stages orwhether they're actually selling
and they have a reason thatthey've got to sell their
(11:41):
property.
A third question, following upon what Troy said, is I find
that most owners like to bepresent Apart from yourself.
Is there any other people thatshould be involved in this
conversation?
And that's the sort of nice wayof trying to get decision
(12:02):
makers there.
Probably the last question Iwould say that's very useful to
be asking in that conversationon the phone is have they ever
sold the property before andwhat did it feel like?
How did it go?
Because if they've had a badexperience with an auction or if
they've had a terribleexperience, you want to find out
from them what they hate andwhat they like in that
experience that they've solvedbefore.
Speaker 2 (12:23):
Yeah, yeah, no, that's right, and I think
there's some good questionsthere.
One that I don't like asking,and it could be conflicting with
what you guys think, but a lotof people say how many agents
are you seeing?
I find that's intrusive, yeah.
Speaker 1 (12:40):
It's their business, isn't it John?
That's right, intrusive, if Iwas thinking of selling.
It's their business, isn't itJohn?
Speaker 2 (12:43):
It's their business.
You sort of yeah, that's right,so I don't like to ask that.
And the other thing is, itsounds a bit defensive, it's
like I'm starting to focus on mycompetitors.
So for me and again, I'm notsaying I'm right and anyone else
that does that is wrong I'mjust saying there is a reason
that I don't ask, there is areason that I don't ask.
And how many other people, tom,are you and Sue going to be
interviewing?
You know, I just don't thinkit's my business or it's
(13:05):
relevant.
The one question, the otherquestion I do ask, though, is
and again I'm referring toCoreLogic.
As you are, tom, while we're onthe phone, I'll say Tom, I've
noticed you've been there for 12years.
Have you made many majorcapital improvements since
you've been there?
So I'm kind of wanting to ohyeah, we put a second story on,
or we gutted the whole place andstarted again, because
(13:25):
CoreLogic is going to be morerelevant if they haven't made
any major capital improvements,because CoreLogic wouldn't know
if you have.
So I often will just, you know,get a bit of a sense on, you
know, any major renovations, anyextensions, just to get a bit
of a sense as to how relevantthe actual, because core logic,
as most people would know, allit does is it tracks the
movement in the suburb and itapplies that movement to how
(13:47):
long you've been there and howlong the suburb's grown, which
is probably brilliant if youhaven't made any major
improvements.
But if you spend a milliondollars demolishing the old
house or putting a second storyon, you know that's no longer
relevant.
So, yeah, I think, work outwhat questions work for you and
in your market, but I think thepricing one is non-negotiable.
(14:08):
That's critical for sure.
And then just work out, buthave two or three questions at
least, because you know this isa big appointment, it's
important.
So you've got to make sure youequip yourself with a little bit
of detail before you visit.
Speaker 1 (14:23):
Yeah, and I was going to say and our listeners can't
see it, but I've got two bulletpoints there Digital
introduction and buy a match.
We are living in an era, hightech, high touch.
We're not asking you to usetechnology to substitute you,
but you should complimentyourself.
Substitute you, but you shouldcompliment yourself.
(14:43):
And if you can do somepersuasion by sending out a good
pitch report from a realtor orany of the ones that people use
it it.
I remember robert caldini ataric five years ago, just before
he went on stage, he waswriting a book um a second book.
The first book was calledinfluence.
The second book he was writingwas a book called Persuasion and
he actually said that there's alot of selling done prior, as
(15:06):
your brother talks about, priorto the meeting, you're getting
information and you're actuallypriming the client for what's
coming next.
So sending out a digital introand also the buyer match and
(15:27):
Alexander Phillips does it verywell, where he actually goes to
the appointment with clearlydefined buyers that he has
matched with the details he'sbeen given on the phone
regarding the property and heactually says you know, mr and
Mrs Vendor I actually want totalk about two or three people
I've got at the moment that Ithink are going to be high
probability potential buyers onyour home.
Speaker 2 (15:44):
So I think if you do that.
Yeah, there's one other one,tommy, that I know, adrian Bow,
when he was selling and he gotit from one of the early ARICs
was that he would pre-deliver ordrop around in advance.
He would send a booklet of allthe testimonials from all
previously delighted clients andyou know they had ended up
(16:04):
being 250 or something.
It was very thick, you know,sort of later in his career,
obviously, and he would deliverthat around and just pop it in
saying looking forward tomeeting you.
In the meantime I thought youmight like to, you know, read
some of the comments thatprevious clients that have used
my services have made about me,and then the other would be on
their letterheads, you know, andwhat they said and the property
(16:25):
they sold, and so that was alsoquite good.
So I think, again, you've gotto work out what works for you,
what works in your market, butthese are just ideas that could
be the things that put you aheadof the pack.
Speaker 1 (16:37):
Yeah, shannon Whitney in the real estate gym.
He once did a webinar for meand then he attached a document
that he sends out.
It was very, very simple.
It was a one-page, basically anExcel document that said my
last 100 sales name, address,mobile number, feel free to call
(16:57):
the clients.
Yeah, and I actually asked him.
I said, um, do you tell yourclients that they're going to
get a phone call?
He says yes, I do.
I said did they ring him?
He says hardly, but he goes.
The power in it is yourvulnerability and courage to be
able to say um, here are all mylast hundred sales.
(17:18):
Have a chat with people.
Speaker 2 (17:21):
Yeah, exactly right, that's a very good one.
And I think that agent reviewsand you know we spoke about Troy
mentioned it before I waslooking at an agent the other
day, a guy that I actually wouldlove to work with and was going
to reach out to him, and I wentto his profile and he had 157
agent reviews on well.
I wrote my agent on one of thebig sites and they're all five
(17:41):
star.
And I went to his profile andhe had 157 agent reviews on well
.
I wrote my agent on one of thebig sites and they were all
five-star and I thought, youknow, impressive.
The bit I thought was mostimpressive is he had a system to
ask and capture and post these.
Now I know that a lot of thesesites the people only ever get
invited.
The ones that you know aregoing to be pretty likely to
give you a five-star rating andanyone that's been disgruntled
probably never gets an invite.
(18:03):
I get that.
So maybe it's skewed a littlebit, it's a little bit
rose-colored glasses, but Istill acknowledge there's a
system in place and there'sstill 157 people that were
prepared to give him a five outof five.
So even if there were five or10 that didn't get the invite.
It's still quite impressive.
So I think again, 1% is whatare the little things you can
(18:23):
stack together to put yourselfahead of the rest?
Okay perfect.
Speaker 1 (18:28):
So you've done the pre.
You've collected someinformation.
You've done what a good doctordoes, and that is diagnose
before they go up and prescribea solution.
You've collected the facts.
You're now at the listingpresentation.
Let's talk about when you'reactually there.
The first 20 seconds mattersbecause, whether we like it or
(18:50):
not, we do seem to quickly cometo an assumption on someone very
early in the piece.
Often it's the way that they'redressed, often it's the way
that they behave getting therehave they got there on time?
When the door opens, what theylook at, do they feel like it's
a likable person and, mostimportantly, showing that you've
(19:12):
got there on time.
There are some listing agentsthat are chronically late to
listing presentations.
They've made late a habit.
Speaker 2 (19:21):
Yeah, I used to be the opposite, tommy.
I'd find that if I got there 10minutes before, I could sit
quietly and visualize which Iused to do every listing
presentation.
I would quietly sit in my carand visualize meeting the client
, having a great meeting, havinga great tour of the property,
having good rapport and askingfor the business and getting the
go-ahead.
And it didn't always happen,but I got to tell you.
(19:43):
I think just being there andbeing in a calm state and having
a positive visualization in mymind went a long way towards
helping me get a lot of thebusiness I got.
Having a positive visualizationin my mind went a long way
towards helping me get a lot ofthe business I got.
Speaker 1 (19:54):
So I'll tell you an interesting thing about taking
shoes on.
So, sula, we don't wear shoesat home right.
We've never for 30 years wedon't wear shoes at home right.
And whenever we havetradespeople come over, sula
gets a connection and affinity.
The minute a tradesperson says,would you like me to take my
(20:16):
shoes off, straight away shefeels like this person is going
to pay attention, he's going totake care of the asset that we
own, he's not going to be clumsyand dirty, he'll clean up when
he's finished.
Obviously, tidiness is an issue.
I think real estate agentsshould actually be mindful, and
I know that I don't know.
(20:36):
I think maybe 80% of peoplewear shoes in a house, but I
think about 10% or 20% don'twear shoes in a house.
I think the first few secondsyou should actually offer that
to every one of your vendors.
Should I take my shoes off?
Speaker 2 (20:59):
Yeah, I think that's attention to detail, it's
respectful.
Yeah, In fact, I usuallyactually say do you mind if I
take my shoes off?
Because most of the timethey're not wearing shoes and
you'll see a lot of theproperties we get invited into.
They're nice properties,They've got nice polished
floorboards, they've got, youknow, beautiful quality carpet.
So yeah, I think that's anotherone percenter.
The thing I don't think wementioned yet, Tommy, was SMS
confirmation the morning of.
(21:20):
It's possible they've forgotten, Maybe it slips through their
diary, Maybe they've got achaotic morning and they might
have to reschedule.
So I always just do a quicklittle, looking forward to
seeing you at 2.30 pm thisafternoon.
If you have any challenges,just let me know in advance.
Otherwise, see you at 2.30.
And I find a gain to 1% man.
Speaker 1 (21:40):
Okay, let's talk about the presentation You're
going through.
Normally the way it looks likeis you do a guided tour of the
property.
Most agents that I ask tell methey start off with the tour and
they don't sit down first,unless it's a very small one
bedroom bedsitter where youcan't really build rapport and
(22:01):
get to know a client if they'rejust going to spend one minute
saying here's the unit.
Most people it's a bit of aguided tour.
Finding common denominatorsobviously is something that is
basic 101, sales and influence.
If you can connect with someone, finding things that are in
common, whether you know there'sa Roosters jersey up there on
(22:23):
the wall, or you see golf clubsaround there, or you see a
university degree up on the wallfrom the same uni, or whether
the kids go to a school thatyou're aware of or your kids go
to school.
So I just want to ask both ofyou what are some of the other
things that you think are worthmentioning here before you sit
(22:44):
down at the dining room and havethat sit down, talk the proper
business, talk Any other thingsthat you can think of.
Speaker 2 (22:51):
I always like to get permission and check that
they're okay if I start takingnotes, which of course everyone
says, yes, but I like capturingnotes when someone says
something about their propertyor about their situation.
That I think is going to helpme later on should I get the
listing.
I'm trying to capture that down.
This was done by Burleigh, kateand Halliday in the late 1980s.
(23:11):
I'll just take a note of thatbecause I just find the process
of taking notes with people isreally important.
Second one is just be curious.
A lot of people, a lot of agentsI know, especially like the
three of us, those that havecome from the wrong side of the
tracks.
They get intimidated by goinginto people's home and there's
some amazing painting on thewall or there's some great
(23:33):
collection of sculptures, anddon't be afraid to say you know
that is a beautiful painting.
Would you mind if I ask who didit?
And you know what's the contextor what's it about.
So don't be nervous.
You know people likeauthenticity.
In fact I think it's one of thekey skills at a listing
presentation is being authentic.
So if there's something therethat you know you find it
(23:55):
interesting it's not toopersonal, obviously.
You know, don't feel afraid toask them a bit more about it.
And you know I've never seenthis kitchen before.
It's a beautiful kitchen.
Do you mind if I ask who is thedesigner or the manufacturer?
Just little things like that toeducate yourself.
Take the notes.
Yeah, build the rapport, butdon't be too cheesy about it.
There are some agents that wentto sales one-on-one workshop
(24:17):
and they asked the most obviousquestions and it's kind of like
you know you can feel thevendor's eyes rolling in the
back of their head.
Yeah, I think you're right.
Speaker 1 (24:26):
Sorry, go Troy.
Speaker 3 (24:28):
I just think it's the genuine questions.
If you see something that youhaven't seen before or there's
something a little bit unique,it's like oh so can you tell me
about that, like what attractedyou to that piece?
If it's an artwork, or ifthere's, you know, a piece of
sporting equipment or somethingthat's a little bit unique and
unusual that you know yougenuinely kind of well, what's
that and how did you come acrossit?
(24:48):
People love talking about thedetails of their home.
They're very proud of it and Ithink you know, the more genuine
you are and the more authentic,like John was saying, you can
definitely build a lot moretrust and rapport very quickly
if you show that vulnerabilityof trying to get a really clear
understanding.
The other one is, tom, that youknow we take for granted and
underestimate the amount oftimes we do walk through
(25:09):
properties and we go through thelisting process.
For a lot of the times whenwe're sitting down with the
vendors or that we're openingthe front door and we're seeing
them for the first time, theyactually don't know the process
that much.
They don't have a lot ofexperience, so kind of giving
them a bit of a guide to saywhat we normally do or what we
like to do.
Is that okay?
And asking him for thatpermission to do the tour of the
home and take notes, like Johnsaid, can sometimes give them
(25:31):
comfort because you get awayfrom that awkwardness of so what
do we do?
Do you sit down, or do you giveme a proposal, or do you come
into the house or do we standoutside?
What is the go with the listingpresentation?
Speaker 1 (25:42):
That's a very, very good point.
Very good point, troy.
I find that question therediscovering invisible value.
If you want to get a client totalk a lot more than what, you
ask them an incredible questionand you'll get an incredible
response.
And I don't know where Iplagiarized that question, but
(26:03):
it was at the presentation.
Say, as you're going through theproperty, mr and Mrs Vendor,
I'd love it if you're able tohighlight and describe the
invisible value that's notobvious to the eye, because if
you can actually share that withme, I'm going to be able, down
the track, if I have theopportunity, to share that with
(26:24):
the buyers.
And that would be an extra 5%to 10% on the value of your home
that we can't see the eye 10%on the value of your home that
we can't see the eye.
And I think, as you said, troy,I heard Tom Hopkins 30 years
ago say be an interestedintrovert, not an interesting
(26:44):
extrovert In sales.
Be the listener.
People adore and love peoplethat are listening to them.
So you've got to ask questions,otherwise you won't be
listening.
Speaker 2 (26:55):
Michael Paglia, one of the best agents in the
country, no doubt constantlycurious, loves asking questions,
enthusiastically, listens.
When he's listening andwatching, you can tell that he's
nodding his head and smiling.
He's actually loving theresponse and he's loving being
educated and he's yeah, it's oneof his great skills is he's
(27:17):
just got this wonderful power oflistening.
The way he does it it's, youknow, it's a real skill.
Speaker 1 (27:22):
Yeah, so we're not going to spend a lot of time on
this podcast talking about thehouse maximisation plan, but
what we will just say is that iscritical.
Like we've said it before, wecan talk about all our awards,
we can talk about our history,we can talk about biography, but
what really a client caresabout is how will you get me
(27:45):
more money for my home thanother people that work in real
estate in this marketplace?
How is my home worth more moneywith you?
And you need a plan, and plansinvolve you talking about
marketing.
They involve you talking aboutyour process.
I think, john, back in the NewsClub days, you used to have the
(28:06):
house maximization plan in onesentence.
It was, you know, emotionalconnection plus world-class
marketing plus competitivebidding.
Speaker 2 (28:18):
Yeah, it was more exactly it was the more buyers
that are emotionally connectedin a competitive tension state
is going to, you know.
So I used to make it into aformula MB, more buyers plus EC
emotionally connected plus IC incompetition equals HPP, highest
possible price, and that justsort of, I guess in your
(28:39):
writer's sentence outlined howare we going to get the most?
Now then you've got to dig into.
So how do we get more buyers?
How does one get thememotionally connected?
What are the methods to createcompetitive tension?
And I think maybe next to oneof the upcoming podcasts, how
does one get them emotionallyconnected, what are the methods
to create competitive tension?
And I think you know, maybenext to one of the upcoming
podcasts, we can definitely diginto that.
But just on this one, before wekind of finish off on this one,
(29:01):
tommy, a couple of things cameto mind for me as we were
talking.
I just jotted them down.
Number one it's more importantto be compelling than
comprehensive.
A lot of agents, you know, andI like attention to detail and I
do like sort of a plan and anagenda and all that good stuff,
but we've got to be careful wedon't get too caught up in it,
because if you try and give themevery single thing you know
(29:23):
about selling the property, youactually become overwhelming and
you oversaturate them and theybecome fatigued and they don't
know what to remember becauseyou've told them 150 things.
So I think, pick out what arethe three or four points about
your business that you believewill help them maximize price,
what are the three or fourthings about the specific
property that you'll focus onduring the sale process, and
(29:45):
just don't try and have 27points of benefit.
And here are my 112 items ofadvantage.
I think that was one.
The other one was preparationis free.
These are just two of myfavourite sayings.
Preparation is free.
Guys, most of the preparationwe're talking about, it's not
money, it's just a few extraminutes, or even half an hour,
an hour before a meeting, aftera meeting, preparing and
(30:09):
following through.
These are the things thatreally matter.
So I just wanted to add thosetwo before we kind of clocked
off, because I think it'simportant.
But we should do a pricemaximisation revisit.
I think it would be good tosort of talk through the process
and you know what are some ofthe points of difference and
everyone's going to be different, by the way, not everyone's
going to have the same points ofdifference, but thank God.
(30:31):
But certainly, you know, we canshare some of the ones that we
use and we've heard others usethat we think are really good.
Speaker 1 (30:40):
Yeah, you know, John, as you're talking, I was
thinking about in Byron about ayear ago with Maddie, and she
went into a dress shop to buy adress, and I was sort of hanging
around at the front of the doorand she saw a dress.
She goes this is the one I want, right?
And the sales assistant goesyeah, it's beautiful, isn't it?
(31:00):
And the sale was there, it wasdone and finished, and then she
turned around and she said ohlook, let me show you one that
looks very similar to this aswell.
Right, so she shows up, shegoes, but I don't have that size
on.
And then the next thing youknow is oh, I'm confused now,
Daddy, I don't know.
Speaker 2 (31:21):
Talked away out of a sale.
You're right.
Speaker 1 (31:23):
Talked away out of a sale.
Speaker 2 (31:24):
you know, once you've got agreement, stop selling and
start signing it all up.
Yeah, Okay.
Speaker 1 (31:33):
So agreement, stop selling and start signing it all
up, okay.
So look, let's just touch oneor two minutes.
You don't sign it up.
They're not ready, right?
And the last thing we, as threepeople, we are not high
pressure, bully, fast talking,commission breath approach.
We do believe in closing, we dobelieve in making it easy for a
client to say yes, but thereare certain times when clients
(31:53):
are not ready to do business andyou've got to work with them at
their pace.
What are your views that youknow you walk away from the
listing presentation.
They say, look, we need a bitof time.
You know we're still doing ourdue diligence.
We're talking to people.
What do you do over the nextone or two weeks without coming
(32:13):
across as having dual breath?
Speaker 2 (32:17):
Well, for me it's over the next few hours, or
certainly one or two days,because I do think at that point
, if you sense that they are indecision-making mode, I think
you don't want to leave it toolong, you want to get back on,
and so I always go back throughmy notes and I'm thinking what
were the items that were raised,what were the concerns, what
were the questions?
And then I try and get back tothe owners as quickly as
(32:40):
possible with you know, by theway you're asking me about this,
I've done the research here'sthat you wanted to find a good
plumber that could fix this.
You know I mentioned my stylist.
Here's their number.
I rang them in advance.
They're happy to look after youas a VIP client, just what was
discussed or raised during thelisting presentation, that you
(33:01):
can go back to them and givethem some more information, and
I find that is really important.
So bespoke, relevant, topicaland fast.
I think you want to getstraight back on.
So many times you leave at 48hours and you ring them up and
they signed with someone elsethe day after you went there
because you know the otherperson showed enthusiasm, sense
(33:23):
of urgency.
They popped an agreement, youknow, in their inbox and they
got the business yeah.
Speaker 3 (33:29):
Troy.
For me it's yeah, it's exactlythat, tom.
It's follow through, follow upand follow back straight away
and then leverage and rethink.
What have you missed or whatquestions did they not cover off
that they did cover off.
Sorry that you can get back infront of them or at least have a
conversation with them.
It's really articulating yourkey systems and making sure that
they understand why that pointof difference is the thing
(33:52):
that's going to maximize theirresult.
But again, it's not being toopushy, it's just an education
point of view and staying intouch with them and making sure
that you're there, you know,champion not only them and the
result they're looking for, butalso the benefit of working with
you as a, you know, the agentof attraction in the market.
Speaker 1 (34:08):
Okay, gentlemen, I want to thank you so much.
A very important subject,because without a listing we
have zero in real estate and weknow that every time a listing
does go on the market there arefar more real estate salespeople
available for the number oflistings there are in the market
, but I think there's not enoughgreat real estate agent for the
(34:30):
number of listings there in themarket and that's why real
estate's the highest paid hardwork, the lowest paid easy work
and it's not split evenly.
You'll probably find and Iwouldn't be surprised if it's
the same in mcgrath that youknow uh, 30, maybe percent of
the agents in an office end updoing most of the volume, and
(34:51):
having a great listingpresentation is critical.
Gentlemen, I asked you lastweek I want to see whether
you've changed your view uh, afl.
Uh, sydney swan's incrediblevictory, incredible victory
against the giants.
Last minute stuff, um, wouldyou change your view?
Speaker 2 (35:12):
afl, nrl, tip, the grand final winners no, no, I
think there's only two can winthe uh now with the roosters
with their injuries.
I think there's only two canwin the nrl, despite people's
talking about canterbury and anda few others.
I think it's penrith or storm,but I think I went for penrith,
I think you went for storm trosy, from memory, and I think we
(35:33):
all went for the swans and Ireckon we're all on winners
there.
Speaker 1 (35:38):
Yeah, troy troy, troy , troy, troy hasn't.
Troy wants to open up his mouthand actually say hang on a
second here.
Do you think the Roosters arestealing with a chance, troy?
Speaker 3 (35:48):
It's challenging Any key position.
It's like in real estate, anykey position that you lose at
this crucial moment.
It's like going into a listingpresentation losing the key
agent that's doing the listingpresentation before you go in.
You can't lose your hooker.
You can't lose your halfback atthis time of the year and
regroup Now.
I'm happy to be proven wrongand I'd be the first person to
say I was wrong if they go awayand win it.
Speaker 2 (36:09):
Troy, troy, troy, cut the crap.
I got no chance.
Very difficult, very difficult.
I got no chance.
Speaker 1 (36:14):
And Troy you want to make it worse.
The truth is, both your twoco-hosts also don't like your
team.
Speaker 3 (36:23):
Yes that's exactly right, you know, the good thing
is they're in the finals andthere's a chance.
Anyone that gets to this pointthere's a chance.
Speaker 2 (36:34):
They've got a better chance of the Tigers than the
Rabbitohs, for sure, but afterthat beyond that they have no
chance.
But good luck to them anyway.
Speaker 1 (36:45):
See you next week, gentlemen.
Speaker 3 (36:48):
Thanks guys, Bye.
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