0:00

Tom Panos , john McGrath

0:02

, troy , malcolm , it is that

0:04

time of the week where we give you

0:06

a blast of $1M agent

0:09

. And today , today , we've

0:11

got a great topic , because you're listening

0:13

to this entering the

0:15

busiest time of the year in real estate . It's

0:18

called Spring . We're four weeks away

0:20

from the opening of Spring

0:22

. You can actually feel that the weather is going

0:24

to change in the next few weeks . But

0:27

more importantly , john and Troy , right

0:30

now there's a lot of conversations about real estate

0:32

agents getting listings

0:34

for Spring and I want to do a topic

0:36

prospecting fit Very

0:39

important topic . It's a subject that a lot of people don't

0:42

like because it is the grind

0:44

in real estate . If

0:46

I had to ask you both what's your definition

0:48

of prospecting , I was reading

0:50

what Jeb Blount's definition

0:52

of prospecting was . He's a guy that wrote that

0:54

book , fanatical Prospecting . He says prospecting

0:58

is defined as the art of gentle

1:00

interruption , which

1:02

I think it's a . It's an actually

1:04

nice definition that you

1:06

are interrupting people . But if you're actually

1:09

using the Seth Godin approach

1:11

, where you look at people as being students

1:13

and not prospects , you'll probably

1:16

do it in a far more valuable way

1:18

no commission breath and being

1:20

more of a teacher . So what do you

1:22

think , john and Troy . What do you define

1:24

prospecting as ?

1:27

Yeah , well , that's an interesting and slightly

1:30

oblique definition , I

1:32

guess , Tommy , Look , there's two things . One is

1:34

I've always loved your phraseology

1:37

and your focus on attraction agent , because

1:39

I think the best and easiest

1:41

law of least effort and the best form of prospecting

1:43

is attracting people to seek you out , and

1:46

I think that's that's the way we've got to build all

1:48

of our listeners . We want to build

1:50

them to a point where people are prospecting

1:53

them and chasing them . Secondly

1:56

though yeah , I

1:58

think that it's Tom Ferry said

2:00

it really nicely at Eric . You guys might

2:03

remember he was talking about

2:05

you know , I think you said you know , look at your phone

2:07

, how many contacts . Multiply that by 5% , that's

2:09

how many people that you know that you

2:11

have a direct connection with are going to sell this year , and

2:14

you know so if you've got a thousand , that means it's

2:16

50 again sell this year . And

2:19

then he said you know , people's , people

2:21

sell generally because their life situation

2:24

changes either quickly or

2:26

slowly . Quickly , Deaths

2:28

may be , births , slightly not

2:31

as quick , but but births , divorces

2:34

, I guess they can be quicker or

2:36

slow , but life situation changes

2:38

. And he made the really good point . I'm

2:41

not really answering your question . He told me that just

2:43

with regard to what prospecting is about

2:45

, it's about continuing

2:48

to stay top of mind . So when

2:50

someone's life

2:52

situation changes and they need a

2:54

professional agents advice , you're

2:57

top of mind and I really like that . I like

2:59

the simple thing multiply your number of connections

3:02

in your phone by 5% . That's about how many

3:04

people you know are going to sell . I like

3:06

the idea that the

3:08

people move because of life circumstances

3:12

changing and you

3:14

need to stay in touch . So you

3:16

are either a top of mind or B

3:18

is . You're in that conversation . Someone

3:20

says , oh , we just had great news , you know

3:23

we're having a child or we've got a job transferred

3:25

in New York or whatever it is . So

3:28

yeah , it's not really a definition , but that's

3:30

the way I see it , and I

3:33

love most particularly the attraction

3:36

agent BitTroy .

3:39

Good question . I reckon it involves

3:41

seeking , qualifying

3:44

, converting opportunities

3:46

into definite

3:48

sales and business leads and

3:51

creating those lifelong customers . I

3:53

think that's the first thing . Is you know where

3:55

do you go ? What are the layers of seeking

3:57

and then qualifying those and then putting

3:59

them into a process

4:02

that creates opportunities for sales ?

4:08

I had a sorry you .

4:10

First I'm just

4:12

going to say a friend of mine has just started doing

4:14

some let's call it prospecting work

4:17

for an agent who's

4:19

quite a successful agent actually , and

4:22

he was given the list of potential

4:25

prospects . So people that had been

4:27

identified by that team over the last couple

4:29

of years is selling in the not too distant future

4:31

. Unfortunately , prior to

4:34

my friend arriving , they'd been a little bit of a glitch

4:36

and the team had been a little bit

4:38

lax in not

4:40

following through the people

4:42

. And I think the latest number , after three

4:44

days of calling , he's

4:46

found five people that have listed

4:49

and sold elsewhere because no one

4:51

stayed in touch with them . And he's more

4:54

recently , in the last sort of 24 , 48 hours

4:56

on the earth , two or three people that

4:58

, yes , they're ready to go now , but

5:00

that just shows that you know there were

5:02

five people that they could have , they

5:04

could have nailed and they could have listed

5:07

, and five turns into 25 if you

5:09

do it right , as we all know . You know sort of success

5:11

multiplies . So you

5:13

know , as Troy said , there's layers . There's

5:16

, you know , there's attracting , which is our favorite layer

5:18

. You ink attraction agent

5:20

, then there's , you know , any number

5:22

of outbound prospecting

5:24

opportunities , including , most importantly

5:27

, probably by servicing , and I think

5:29

we might be talking about some of the

5:31

things you have mentioned your team in the

5:33

real estate gym , which

5:35

included by servicing , and

5:37

then you've just got things we call them internally

5:40

, tom hotspotting where there's been

5:42

a success , has been a good listing just come to

5:44

market , there's been a good sale just made

5:46

, and you guys jump on the phone and

5:48

, ideally , talk to people that you already have a relationship

5:50

with . But if you don't have a

5:52

relationship with anyone or anyone within a area

5:55

of that particular piece of business , then just you

5:58

know , do a knock and cold call and so

6:00

forth . So , yeah , I think it's

6:03

, it's your right , troy . It's a number of

6:05

layers of activity , starting with identification

6:07

, seeking and then converting .

6:10

So what I've done is created

6:12

a PowerPoint document for

6:14

our gym members and I just want to run through

6:17

Top Line . Troy and

6:19

John , how

6:21

real estate fit , are you for prospecting

6:24

? And I've gone through , I've

6:26

looked at the people that are very good at

6:29

prospecting and getting lots of listing

6:32

opportunities and I looked at what

6:34

is it that they did really well at ? And I'll just go

6:37

run through a couple of these . The first one is

6:39

and I'd love to get your comments on each

6:41

one do you personalize

6:43

rejection to the point where it becomes

6:46

disabling ? I mean , there is a

6:48

lot of real estate agents that could be exceptionally

6:51

good at our industry , except

6:53

they just personalize any

6:55

negative . Shrug off , they get off someone

6:57

and it's like their Velcro

7:00

it sticks with them all day , it sticks with them

7:02

all night . Oh , they hung up on me

7:04

, oh , they didn't want to talk to me . Your

7:08

view on rejection overcoming

7:12

it .

7:19

I was listening to a I think

7:21

it was a TikTok , could have been YouTube short the other day

7:23

a guy who's the famous

7:25

English cold calling coach

7:28

and he said the number one key to success

7:30

in cold calling is not caring what they say . I

7:33

think that's exactly what you're saying . You detach yourself

7:35

from the outcome . If someone says

7:37

no , they're not attacking you , they're

7:40

just saying no . That doesn't work for me right

7:42

now . I'm not interested , thank you . Well

7:45

, they may not say thank you . I

7:47

think it's detaching from the outcome

7:50

, focusing on the process . The

7:53

other thing I've got this bugbear Troy back . People that

7:55

say I made 100 calls

7:57

today . I said , oh , that's awesome . Geez , it must have been

8:00

a lot of inquiry come out of that . They

8:02

said I only 12 connects . I

8:04

said , oh , so you know , because when

8:06

someone says I made 100 calls

8:08

, I automatically think of you . Know , they spoke to 100

8:10

people , which I think would be an incredible

8:12

day is prospecting . But

8:14

yeah , it's about the people you speak

8:17

to , and I know Alex Phillips is very good at leaving

8:19

succinct voicemail messages , which are

8:21

also very , very good . But

8:23

yeah , you've 100% right , don't care

8:25

what people say . That doesn't mean be

8:27

rude or blasé , it just means don't take anything

8:29

personally .

8:32

I want to touch on this one Are you converting

8:34

listing appointments from your open for

8:36

inspections ? Troy

8:39

? You're your lead agents . In fact , I've got

8:42

Alex Jordan doing

8:44

something for real estate gym members

8:46

in Brisbane next Thursday

8:48

and I look at it and

8:50

I look he's got a few layers

8:52

, you know , and open homes are a

8:54

big one and I know that a lot of

8:56

real estate agents that are really good

8:59

at getting listings say

9:01

that open homes and the way they manage

9:03

opens is their lead source

9:05

. What are your views , troy , and

9:08

what are any tips on running

9:10

great opens that

9:12

can lead to you creating listing opportunities

9:15

?

9:16

Biggest opportunity in the market right now . Tom is

9:18

running a super professional open

9:20

for inspection actually world class . So

9:23

knowing exactly what are the trigger

9:25

points that help people make decisions , it's

9:27

normally seen agents at their best which is

9:29

what they should be at their open for inspections

9:31

. What are the five or six things

9:34

that need to be done at an open for inspection to make

9:36

sure that you're actually meeting the metrics

9:38

that people are looking for in their future

9:40

real estate professional ? My

9:42

minimum standard is always have two people there

9:45

making sure that you have the right information

9:47

and the right collateral to make sure that

9:49

they can help them make the right

9:51

decisions . Second four is make

9:54

it personable . I think that's where most

9:56

people fall away . They get so focused

9:58

on the transaction of an open for inspection

10:00

, of getting people through the door and making sure they're

10:02

seeing everything and ushering them out , instead

10:04

of giving them the time and space that

10:07

they can have a conversation . And then

10:09

the follow up , Tom , is probably the most important

10:11

one is what are you saying to them at the open for inspection

10:14

? How are you preparing for them to give feedback

10:16

in a transparent way that you're not going

10:18

to take offense to , that you can use

10:20

to then give and pass back to your owner . And

10:22

then what's the follow up strategy with that buyer

10:25

as well , after they provide that feedback ? Is

10:27

it arranging a second private appointment ? Is

10:29

it inviting them at a different time of the day

10:31

? Is there another property that you want to introduce

10:34

them to that maybe because that one didn't suit

10:36

their criteria ? It's really not

10:38

only one thing , it's probably four or five

10:40

things done exceptionally well that people

10:42

are making decisions about using agents in

10:44

the future based on that open for inspection

10:46

experience .

10:49

I've found over the years , about 20%

10:51

of people attending my Opens have

10:53

been sellers now or in the near future

10:56

. Some of them are on the market already , some are

10:58

about to come on the market , but it

11:00

can be as high as 35 , but

11:02

let's say 20% conservatively , so

11:04

I think that's really critical . I agree

11:07

, detroit , but even if we keep it simple

11:09

, what does someone want

11:11

when they come there ? They want to know about

11:13

the property . So you've got to have a few bits of information

11:16

at an open for inspection , because when

11:18

you're on your top game , that's

11:20

when you're attracting them

11:23

because they say that's the kind of guy or girl I

11:25

want on my door talking to my

11:27

buyers . So what can you do

11:29

? That's going to help your current vendor sell , but it's

11:31

also going to impress the myriad

11:34

of vendor . Most properties nowadays are getting 50

11:36

to 100 property of people through it

11:38

during a campaign . So that means

11:40

that there's somewhere between 10 and 20 potential

11:43

sellers coming to your door , coming

11:46

to see you , allowing you to impress them . So

11:48

, yeah , I think it's your right , troy

11:51

, just a few basic tools to stand

11:53

out from the rest and see an

11:55

open for inspection as a fantastic

11:57

way to sell a property and a fantastic

12:00

way to meet new potential clients .

12:03

John . We've long said Tom and you noticed this as

12:05

we're leaving at Auctions it's an energy game . You

12:07

can normally get a sense of those that and

12:09

it's not over the top energy . It's not like bouncing

12:11

around in high-fiving and screaming at everyone

12:14

. It's actually those that have a focused energy that

12:16

seem to really resonate with their clients

12:18

. Whether that's five people , whether that's 35

12:21

or whether that's 100 people at an auction , those that

12:23

really know how to connect and

12:25

build trust and rapport quickly with their clients

12:27

around energy normally are the ones that

12:29

are attracting future business from their open for

12:31

inspections .

12:33

And I think great agents are

12:35

in bed early on a Friday night because

12:38

I actually think your energy levels are

12:40

highly impacted on how rested you are

12:42

. Everything's harder If you

12:44

don't have a good sleep or not

12:47

enough time in bed . On a Saturdays

12:49

can become long-drained days . You could , as John

12:52

says , you're talking to a lot of people coming

12:54

to opens You're not going to see . You're going to see more

12:56

people on a Saturday than what you will collectively

12:58

the whole week . It's the time it

13:00

is your NRL day . That's

13:03

the day that you've got to be in

13:05

your best form . Which brings me to the next prospecting

13:08

strategy that

13:10

I've got here on this document , and that is the buyer-seller

13:13

very underrated . It's

13:15

the person that actually says , yeah , I'm looking

13:17

to buy . You know , once I find a place

13:20

, I'm going to put my property on the market . Some

13:22

agents actually work buyer-sellers

13:24

very well to the point where they

13:27

basically become a buyer's agent

13:29

for them . You'll often see them going

13:31

to an auction helping them bid out a property

13:34

. I saw one guy near

13:37

my late brother's unit the other day . I

13:39

had to go past there because we're actually

13:41

good friends with a tenant and cut

13:44

a long story short . He was there . I said , oh , what are you doing

13:46

here ? He says , oh , there's a strata meeting

13:48

here . I go . Oh , do you own a property ? He goes

13:50

. Oh , no , he goes . I just doing

13:52

a favour for one of the people that there

13:54

. And I said , oh , why'd you do that ? He goes , makes

13:56

sense . He goes . Stay in contact with them

13:58

. Come I do their vote for them at their strata meeting

14:01

. He goes . I'm pretty sure

14:03

I'll be getting their unit when they sell it one day

14:05

. But they're really nice people as well . So

14:08

the buyer-seller , representing

14:10

people at strata meetings , anything

14:12

that you're actually adding value to people . But

14:15

, john , when you were listing

14:17

and selling real estate full-time

14:19

, did you deal a lot with buyer-seller

14:22

? These are people that were looking to buy

14:24

and said once we buy , we'll sell our place

14:26

100%

14:29

.

14:29

I used to deal a lot with buyer-buyers and buyer-sellers

14:31

. I just loved servicing buyers . It was

14:33

one of my passions . You

14:36

wouldn't have to ask me twice to

14:38

make sure I was looking after someone and

14:41

following them as long as it took to find a property

14:43

. I used to find it was a bit like a treasure hunt . I've

14:45

found this person , I've qualified

14:47

them , I've got to know them , I'm building a rapport with

14:49

them . Now I've got to go on a treasure hunt , like

14:51

an Easter egg hunt , looking for the right property for

14:53

them , which might be mine . It might be

14:55

someone I sold to , probably five years ago

14:57

, that I then created a listing and

15:00

I think , tommy , you're talking about prospecting . The reverse

15:02

listing is a really underutilized

15:05

strategy when you've got a red-hot buyer . Let's

15:07

say you took a property in Haberfield . Mike Trangali

15:10

took a property at auction in Haberfield , had 600

15:12

bidders on Saturday . Well , come

15:14

Monday you've got five disappointed , ready

15:16

to go , or you're your buyers . What doors

15:18

can you knock ? Who can you ring up and say , hey , tom

15:20

, would you and Sue think of a move for the right money

15:22

, because I've got five people red-hot

15:25

, ready to go in the market ? I haven't seen it like this

15:27

for 40 years or

15:29

whatever you're saying about the market

15:31

and just putting

15:33

it out there for people . Even if they're not ready to

15:35

go now , they'll remember that call in

15:37

a couple of years' time , when they're ready to sell , they'll remember

15:39

that you chased them up . So

15:42

, yeah , I used to love working with

15:44

buyers , and especially if they had something

15:46

to sell , there's even an extra

15:48

bonus . I would say this , though Caveat

15:51

buyers do not give any

15:53

advantage to

15:56

someone , because I've heard this happen in our industry

15:58

. I've never heard it happen in our company , but I've

16:00

heard it happen where people actually

16:02

give advantage to buyers

16:04

that have a property to sell to

16:07

try and secure one they're representing

16:09

over people that don't have a

16:11

property to sell . Now that's where it stops . You just

16:13

can't do that . You've got to give everyone

16:16

a fair chance . But you can definitely

16:18

what a lot of our lead agents do

16:20

Tom and I think you were doing something with Alex Jordan with the

16:22

real estate gym soon but

16:25

what a lot of our lead agents are doing is they're

16:27

delegating the buyer servicing

16:30

to their team . Could be a buyer associate

16:32

or just a team member

16:34

, but they're holding on to

16:36

the buyers to service them that

16:38

have something to sell as well , and

16:41

I think that can make sense also where you

16:43

really continue to build that relationship as

16:45

you help them find something to buy .

16:48

I want to share this story , john , because you

16:50

reminded me of it . I

16:52

got on my Instagram

16:55

direct message from a client , turned

16:57

around and said

16:59

we want you to do our auction . We've given

17:05

it to an agent and they're

17:07

going to be in contact with you . I said oh , it's

17:09

very kind . Thank you so much . Where is it ? Tell

17:11

me the address . Time comes to do the

17:13

auction , I have a pre-auction phone

17:16

call with the agent

17:18

on the day before the auction and he turns

17:20

I've never dealt with this agent before . I don't think

17:22

I'll be dealing with them again . He turned around

17:24

and he says oh , we got four buyers , but

17:27

the one that I want to buy it is this guy

17:29

. And I said what

17:32

do you mean by that ? He goes oh , because if they buy

17:34

it , I'm going to get their listing , so I want them

17:36

. I said well , listen , the one that I want to

17:38

buy it is the one that's going to pay the highest price

17:40

, right , that's who

17:43

I want to buy it . And he goes yeah , yeah

17:45

, yeah . I'm not asking you to do anything

17:47

, but you know what I'm getting at . That's

17:50

my preference . I mean absolute

17:52

rubbish . I mean to think that this kind

17:55

of thinking still exists where someone's

17:57

actually looking to get favoritism for themselves

18:00

at

18:02

the cost of the potential vendor , I

18:04

mean rubbish .

18:05

I mean , I don't think it just exists , I think

18:07

it's prevalent it's , and I'm sure amongst

18:09

your gym members and our team and

18:12

many of our listeners it wouldn't be , because this

18:14

is the smart brigade that turns in to listen to

18:16

good quality material and

18:19

they know we serve it up with integrity . But I've

18:22

got to tell you that those stories

18:24

I'm hearing them far too often and

18:27

it frightens me . I mean , we have

18:29

, as an industry , a fiduciary relationship

18:31

and obligation to look

18:33

after the customer , the

18:35

client that's paying the bill , the vendor , and

18:38

always provide advice which

18:40

is in their interest , not ours , in

18:43

their interest . So yeah , it's sad . Sorry , troy

18:45

, I interrupted you .

18:47

No , I couldn't agree more . Couldn't agree more .

18:50

Yeah . The last one I want to touch on

18:52

is

18:54

well , actually I

18:56

want to ask you this question I make

18:59

a living and so do a lot of other

19:01

real estate people in training and coaching

19:03

and education , telling people

19:05

to do things that they

19:07

already know but don't do

19:09

right , and one of those is

19:12

spend more time reaching

19:14

out to people . Be there , have

19:16

yourself talked about when you're not there

19:18

and the reality is being

19:21

in the conversations . In August are

19:23

the listings you're going to have in September and October

19:25

. Why do you fundamentally think

19:27

that real estate agents

19:29

struggle with the topic of

19:32

prospecting , reaching out , business

19:34

development ? What do you think are the main

19:36

reasons that real estate agents struggle

19:38

with this ?

19:41

Troy , you might kick off , and then I'll .

19:44

I think because the habit and the process of knowing what

19:47

to say is always a challenge . I

19:49

think it's a repetitive action and

19:51

I feel as if a lot of real estate professionals

19:54

don't necessarily

19:56

have the energy systems

19:59

in place that allow them to prospect

20:01

with energy and enthusiasm . We're talking

20:03

, if you look at calling as an individual

20:06

activity , tom , long been

20:08

recommended one to two hours per day or

20:10

two 45-minute call sessions . We

20:14

should be really prospecting and giving

20:16

you encompass everything else that we do around the prospecting

20:18

space and attracting business . It should be 20

20:20

to 30 hours per week . That's kind of

20:22

a third of the time we're spending in this real

20:24

estate career , that we should

20:27

be always looking and funneling that business . And

20:29

so I think that it's a repetitive action

20:31

and sometimes people get quite complacent

20:34

with doing those calls and they feel as

20:36

if it's not a high dollar productive activity

20:38

because they can't see the instant gratification

20:40

as opposed to some

20:42

of the other activities that are in real estate but

20:45

they're not going to buy through getting an offer on the table , going

20:47

to an auction

20:50

, john ?

20:50

Yeah , I think you're right , troy . There's

20:52

definitely a level of laziness and complacency

20:54

that exists in the human

20:56

race and people kind of want

20:58

something to happen quickly and

21:00

they'd rather delegate to an outsourced company

21:03

and say we'll pay you two bucks a call or

21:05

whatever the going rate . But

21:09

you miss all the good stuff when you do that and

21:11

I'm not being disrespectful to those companies , there's

21:13

good ones out there that you can delegate and outsourced

21:16

your prospecting . But I used

21:18

to . I would never delegate . I'd

21:20

have my team support me on Monday callbacks but

21:22

I'd never remove myself from that

21:24

loop because I wanted to hear what were people saying about

21:26

the property , about the market , about what they've seen

21:29

, about all sorts of things when I

21:31

was a principal . I'd want them to hear when they said good

21:33

things about other agents , because that would

21:35

lead to potentially a recruitment call or

21:38

follow through . So I think you're

21:40

right , troy . But if I said to

21:42

you Troy , you're

21:45

an agent , you're doing 250

21:47

GCI , you take home 100 after your

21:49

costs and so forth If I could

21:51

guarantee you , if you did this for me and

21:53

it's only gonna take you 90 minutes a day , five

21:55

days a week at the end of the year I'll give

21:57

you a suitcase with a million dollars in it after

21:59

tax , and that will

22:01

be your earnings as a result of undertaking this

22:03

activity . You'd kind

22:05

of be pretty crazy not to say , of course

22:08

I'll do it . Just tell me how hard is

22:10

it ? I'll say , well , it's not really hard . You're

22:12

gonna get yourself a cappuccino at 9.15

22:15

. You go back to your office , you

22:17

have a pre-organized list from the night

22:20

before and we'll

22:22

work out what's the best form of lists that you can

22:24

get . And you ring , call it

22:26

15 people . So

22:28

you connect with 15 people over a period

22:31

of 90 to 120 minutes and

22:33

you have a pleasant conversation , update

22:36

them about what's happening in the market and you just discover

22:38

whether or not there's anything you can help them with . And

22:41

there will be a suitcase in 12 months with a million dollars

22:43

. I mean you'd say , well , of course I'll do it . So

22:45

sometimes I think the moral of that story

22:47

, tom , is not everyone believes the

22:50

connection or sees the connection between

22:52

this activity , that

22:54

outcome . It's a bit like going to the gym . If I said

22:57

you want perfect abs , just do this . Turn it up to the gym

22:59

at 7 o'clock every morning and do this

23:01

with me and I'll help you for 60 minutes

23:03

and I mean most

23:05

people would go okay . But a lot of people don't see

23:07

the connection between the whatever is the

23:09

body sculpting or shape they want and the activity

23:11

or the outcome and

23:14

the prospecting . So I think , combined

23:16

with complacency , there's probably a little bit of a lack

23:18

of connection . And just

23:21

a practical thing is , if you're treated prospecting

23:24

like you're treating , open for inspection if

23:27

you had 10 Smith Street or 10 Boomerang

23:29

Street , have a field open for inspection Saturday

23:31

, wednesday from 2-3,

23:34

. You're not going to have a long lunch and miss it

23:36

. You're not going to decide that you're

23:38

a bit tired , you're going to go home early . You're

23:40

going to be turning up with that open . If you treated

23:42

the hour of prospecting

23:45

or two hours , whatever is your timeframe , as

23:48

seriously and committed and didn't

23:50

allow distractions to creep into it on a daily

23:53

basis , that suitcase will be

23:55

sitting on your desk in a year . But

23:57

people try it . They don't do it as

23:59

well as they could . They do it for three days

24:01

, then they stop doing it . If

24:03

they do it for a week and they don't get five

24:05

or six leads , they think , oh , I'm going to give this up

24:08

. The really good agents

24:10

have continued prospecting day

24:12

in , day out , week in , week out . They

24:14

love the grind , they

24:16

love contacting people and surfacing them

24:19

, they love touching base with their marketplace

24:21

. I mean , tommy

24:23

, we haven't mentioned it today . I know we're running out of time

24:25

, but just briefly , I mean , one of the most pleasurable

24:28

and best forms of prospecting

24:30

is your past client base . And yet

24:32

I will guarantee you I have no data to back

24:34

this up I'll guarantee you that a 80% of

24:36

people that bought from an agent three years

24:38

or longer have not heard from that agent

24:40

in our industry . And the

24:43

same thing there . Troy , you ask the question

24:45

why would you be so insane as

24:48

to work really hard to build great

24:50

rapport , help someone find a home , help

24:52

them secure it and then just dump

24:54

them like a hot potato ? It

24:56

makes no sense . But again , and

24:59

three to five phone calls a day most

25:01

of the time , if you said , okay , I'm going to do

25:03

an hour of prospecting , I'm going to do three

25:06

to five past clients , just

25:08

touch base . How are you ? Everything good , family

25:10

, well , awesome , you

25:13

would be in the top 0.1% of agents

25:15

on the planet . But it's likea lot

25:17

of things in life , it's simple

25:19

to do the stuff . Not always

25:21

easy , because you do have to love

25:24

the grind and fall in love with the discipline

25:26

of it . Like Troy , go to the

25:28

gym , but

25:30

if you do it , the rewards will be

25:32

there . So for all our

25:35

very , very faithful listeners and

25:37

I just hope that people get that

25:39

lesson that as

25:41

someone . The other day I was talking to Troy and I

25:44

think it might have been from our central coach team I was doing

25:46

some Zoom coaching and

25:48

they were just talking to him about how

25:50

they were doing a lot of prospecting and

25:52

then they got three listings and they dropped it . I

25:55

said well , guess what ? You're going to have to do a lot of prospecting

25:57

in another week because you're going to have no listings to go

25:59

and this real estate roller coaster that's

26:01

all too frequent in our industry

26:03

. You have to find time . Rain , hail or shine

26:06

, whether you've got three listings , no

26:08

listings or 33 listings , you

26:10

have to find time to keep filling your

26:12

sales funnel with qualified

26:14

leads and the only way you're

26:16

going to do that is shoe leather on the phone

26:19

, calling people , adding

26:21

value , updating them on the market

26:23

, following through . That's

26:25

the way to go .

26:27

Can I beautifully said . Beautifully

26:29

said on a very important topic . I just want to finish

26:32

on this point . John

26:35

and Troy , you may have not

26:37

noticed or may have not have noticed . In the last

26:39

five weeks a lot

26:41

of my content on social media has

26:44

been focused to consumers , not

26:47

just agents , and

26:49

I'll tell you what came about . At that , I

26:51

was talking to a guy who works for

26:53

one of these management consultancies . He was just in

26:55

the cafe chatting away , says I follow you on

26:57

social this and that and he goes

26:59

to me . He goes do a lot of real estate

27:01

agents get listings out of their social

27:04

media ? I said the good ones do . Then

27:07

he says you know what you should do because you're

27:09

a trainer . He goes why don't you

27:11

do a bit of an experiment and

27:13

you go out there and pitch

27:16

what they should be doing ? I said I don't

27:18

work in a specific area . He goes just do all of Australia

27:20

, just position yourself . He goes get

27:23

the green screen on TikTok , put

27:25

stories , get them out of the fin review

27:27

and add your comments . I'm not joking , guys

27:29

. That was five weeks ago . I

27:32

have got seven listing leads in

27:34

five weeks . I had another

27:36

one while we're talking . This

27:38

. Is it this . Hi , tom , I follow

27:41

you on social media and I'd like

27:43

to ask you a favour , but

27:45

one that has a payday for the person

27:47

you decide to handle it

27:49

. My mother is rather old and frail

27:51

and maybe we're

27:54

nearing the

27:56

end of the days here on earth . She

27:58

then goes off and he talks about where she

28:00

is . We believe that the property is worth

28:03

around $1.2 million and

28:06

we'd like to know whether you think 2%

28:08

is a fair fee . He goes on to say

28:10

and which agent you think you'll handle

28:13

? I've had seven of these come

28:15

through . I've got to say , team

28:17

, you've got an incredible opportunity

28:19

to have an astonishing brand built

28:21

if you post the right content

28:24

and you are giving people useful

28:26

information instead of chest

28:28

beating or whatever you know

28:30

, whatever people do . But I've just seen

28:32

that with my own eyes in five weeks .

28:35

Tommy , have they come predominantly from Instagram

28:38

, Facebook or TikTok ?

28:39

John TikTok . Surprisingly

28:42

and I've got

28:44

it surprising because in TikTok I've only

28:46

got a 20,000 audience , but I've

28:48

got a very high viewed audience Instagram

28:51

there's . Let me have a look at Instagram

28:53

. So it's TikTok and Instagram . Instagram

28:56

, the audience is significantly higher . The

28:59

audience there is , what's that

29:01

? 70,000 . Facebook

29:03

it's 90,000 . But they haven't been

29:05

coming from Facebook , they've been coming from TikTok

29:07

, with a smaller audience , which

29:09

suggests to me the eyeballs must

29:11

be there at the moment and an

29:14

Instagram . But I think .

29:16

I think I just want

29:18

to mention on that , matt , what about Steinway ? It's got

29:20

71,000 followers on TikTok

29:22

. Jordan 20,000

29:26

on TikTok is a big , big

29:29

following . Tiktok seems to me and I'm no

29:31

expert , but it seems to me

29:33

to be one of those platforms that it's hard yards

29:35

to get momentum . I've seen a lot

29:37

of people on there advertising and doing

29:40

daily posts and they've got 600 followers

29:42

and so forth . And I remember , tommy , when

29:44

you and I chatted early on and I think you had

29:46

at that point like 1600 or maybe 2000

29:49

, and you were going hard

29:51

for it . Now remember I said to you Jesus , it looks harder

29:53

than it seems to be harder than it looks to

29:56

build up , because I think at Instagram and Facebook

29:58

you probably shot up a bit more quickly

30:00

and you said something like yeah

30:02

, it is , johnny , but I'm going to stick at

30:04

it . He said I'm going to find a way to crack

30:06

the toe .

30:09

I remember the conversation . It

30:11

was around the 2000 mark and I said

30:13

I'm committed to try and get to 10,000

30:15

and see what happens . But I

30:17

think what happened is that around the 8,000

30:20

mark it happened exponentially . All

30:22

of a sudden it happened . I

30:26

wouldn't disregard TikTok . I wouldn't disregard

30:28

TikTok and in fact , john , I know

30:30

you do look at it and Troy do you

30:32

look at TikTok . Yep , have

30:35

you noticed the amount of property

30:37

content in the last three , four weeks

30:39

? And I don't know whether it's algorithm , but

30:41

I notice there are more agents

30:43

on there than what there's ever been before

30:46

, just in the last month or so .

30:48

Yeah , it's definitely increased , tom , and I think it's

30:50

one of those that a lot of people managed

30:53

to get the real estate space , so they saved

30:56

their name and they're watching and learning

30:58

. I've noticed some of the bigger Instagram

31:00

accounts have started to

31:03

promote properties and do video walkthroughs

31:05

on those profiles now and platforms

31:07

, so I think it's a space to watch . I

31:10

don't think it's a hard sell

31:12

platform , not yet . I think it's a sharing

31:14

. The more content , the more transparent

31:16

, the more information and education you're providing

31:18

on TikTok , you're definitely going to

31:21

get a greater following than just trying to

31:23

sell , sell , sell , which is very similar to

31:25

what Instagram is .

31:25

I'm just looking at another one from last night Hi , tom

31:28

, follow you on TikTok . Got

31:30

a court order , property has to be sold

31:33

. Need five days to select an

31:35

agent Please recommend . I

31:38

mean these things here

31:40

and I know that a lot of people

31:42

are going to turn around and say , yeah , but you've been working

31:44

in real estate a long time , unlike John

31:46

. I don't have a consumer audience . John

31:48

, you haven't got a consumer audience because

31:51

of your brand , your business

31:53

, your content . I don't have a consumer

31:56

audience . I've got a real estate audience and it shows

31:58

to me that in six weeks you

32:00

can actually position yourself as

32:02

a real estate person . And

32:05

I think social media is

32:07

an astonishing way that you can

32:09

build a brand very quickly if you do

32:11

it intelligently .

32:12

It also shows , tommy

32:15

, how thirsty the market

32:17

, the audience , is for good

32:19

quality , authentic content . You've

32:22

got a trademark your

32:24

content is always spot on , it's recent

32:27

, it's topical , it's like here's what happened

32:29

at today's auctions or here's what came out my

32:31

core logic today . So you don't do old

32:34

style stuff and you always

32:36

present it so , johnny the

32:38

other one I got on Saturday .

32:40

I got one on Saturday night and the guy goes

32:42

. I liked it because you tell the truth

32:44

. And then he said he goes if anyone

32:47

else had sold 14 out of 14

32:49

, they'd act as if they won an Olympic gold

32:51

. And he said you said I got 14 out of

32:53

14 , I'm not getting carried away . One

32:55

hot day doesn't make a summer . I'll probably do

32:57

one out of nine next week . People like that

32:59

, people actually like someone

33:02

that's not sort of carrying on . Hey , wow

33:04

, it's me , I've done this , you know . Anyway

33:07

, I hope more agents actually

33:10

think about what they post before they

33:12

post it , you know .

33:14

I know we've got to wrap up and I've got to walk

33:16

my two little dashhounds , but it's

33:19

funny . You mentioned the weather up front . I

33:22

think spring has come early in terms of the weather

33:24

and that will have some impact on the psyche

33:26

of people moving to property sales

33:28

because we know , first of September the

33:30

phone starts running hot with people wanting to get up

33:33

because the weather changes . Well , it's changed a

33:35

bit early . Two is

33:37

you know , I've never had more people call

33:39

me of late saying how painful it is

33:41

in their household and they're going to have to sell

33:43

something . So this is the time

33:45

, guys , to talk to everyone our audience here

33:47

, our listeners , your gym members , our

33:50

team Troy , this is the time

33:52

to be on your game . The grand final is

33:54

starting , the whistle's blown and

33:57

you have to be on your game right now

33:59

, because I think spring has come

34:01

early and I think there is so much business

34:04

and the reason to get out there

34:06

is people's life . Situations are changing

34:08

, sadly , often not for

34:10

the better at the minute . Financially , people

34:12

are getting squeezed , but nonetheless

34:14

, if you are a good agent that deals

34:16

with integrity and is a price maximiser

34:19

, you deserve , in fact you're

34:21

obliged to get out there and speak to each and

34:23

every one of your clients and your community

34:25

members , so please get out there

34:27

. Look forward to you guys

34:30

next week again , tommy .

34:33

Yeah , I had an agent tell me this morning , guys

34:35

, is it discouraging every time you get on the

34:37

podcast and both their

34:39

two footy teams are much better

34:41

than yours . I said , well , not that

34:43

much better at the moment , actually , mate .

34:45

I said we're not too far different 2024

34:49

is going to be a good year for us , tommy 2024

34:51

.

34:51

It's true , the Tigers won

34:53

on the weekend . I was so excited . I was

34:56

doing something the other day and I was listening

34:58

on the news and it said the Tigers won . And

35:00

then it said further updates

35:02

in the NRLW and I thought , oh Jesus

35:04

.

35:07

I heard exactly the same . It's

35:09

funny you say that .

35:11

I heard exactly the same . Not that there's

35:13

anything wrong with oh there's any

35:15

less importance in the

35:17

women's league and we're not certainly not laughing

35:19

at women in league , but it was just funny . It

35:21

was one of those things , because the three of us are so

35:23

fixated on the NRL and I'm

35:25

so passionate , tommy , about your

35:28

passion for the Tigers . I love it and I'm

35:30

always cheering for them if they're not playing south

35:32

. I'm

35:35

really excited . Now I found out it

35:37

wasn't the NRLW , so I'm

35:39

sad for that , but there's always

35:42

next weekend .

35:45

For the rec . Look the Tigers females

35:48

. The girls team is winning the Conn .

35:50

They're going well .

35:51

They're very good .

35:52

They're very good .

35:54

Well done , well done .

35:55

Thank you for your writing and signing off .