Agents have the opportunity to have their best year ever if they put in place the right processes.
That was the main message more than 700 agents from NSW and the ACT heard at Ray White’s annual Engage training session this week.
Ray White NSW | ACT Chief Executive Officer Tim Snell said every agent needed to stick to the fundamentals and leverage the power of the network to full effect in clients’ living rooms to make 2024 their best year yet.
He said stock levels were now higher than the boom market and agents must prepare and be ready.
“There will be more choice and less pressure on buyers, we will have to do more work to manage our days on market,” Mr Snell said.
“If you can control your days on market, you will control your destiny.”
Mr Snell said agents needed to leverage the brand’s reputation for success, including its success selling properties above $5 million and at auction.
He also called on agents to use the network’s data to make better decisions.
“Our data allows us to tell the future,” he said.
“We are 27 per cent up on last year but we now have more stock now than in the boom.”
Mr Snell said agents need to stick to the process and what they could control to succeed in the current market.
“Systems and processes work and the majority of top agents in our group are all auction agents,” he said.
“It’s a system, a process, it’s scalable. They are good for sellers and buyers. That is an empirical fact.”
With four decades of experience across both the Australian and New Zealand real estate markets, Ray White New Zealand Executive Chairman Carey Smith said it was critical for agents to understand their own businesses.
“What I want to say to you is that no one gives you a rule book all the way through life,” Mr Smith said.
“The iceberg theory says at the top is what we love to hear, what is below the water is what we actually see and at the bottom is what we actually know.
“This strategy has stood the test of time.”
Mr Smith challenged the network to understand their own processes.
“What do you actually know about you and your business?” he said.
“You need to work it out for yourself because no one else can tell you.”
Mr Smith also shared the 14 rules he adheres to each day including saying good morning, changing his voice message daily, writing in a journal and making hard calls on Thursdays (in a blue shirt!).
Ray White Collective Principal Matt Lancashire said his secret to success was world class advertising, becoming a big advertiser and running world class auctions.
“If you run auctions you can control your business,” Mr Lancashire said.
“We have world class systems and processes, follow your ideal week and be proactive not reactive.
“You do not rise to the level of your goals, you fall to the level of your systems.”
Mr Lancashire also revealed he started in real estate by borrowing $1000 from his parents and set about learning the industry from a big writer who gave him the secret to success in real estate.
“The lessons I learned that day have stood me in good stead,” he said.
“We run a world class business – from our open homes to product knowledge and property styling and presentation.
“Never forget that a person forms 11 impressions on you within seven seconds.”
Maclean Principal Daniel Kelly said his team had created a list of values and rules to live by that focused on community.
“We assume nothing and always show accountability and do all the small things,” Mr Kelly said.
“We are involved and present and passionate about a lot of sporting clubs in our community.”
North Bondi specialist Warren Ginsberg said he focused on working hard for his clients.
“My team is known for delivering good service and I build relationships with all my buyers and sellers,” Mr Ginsberg said.
“We over communicate, and set up WhatsApp groups with all our clients.
“We want them to all talk highly of us, appreciate us, as we over-service and achieve great results.”
Ray White Group Chairman Brian White AO reminded the 700-person audience that each and every agent in the room was part of a larger family.
“One of the great reasons for our success has come right from the beginning,” Mr White said.
“Under the name of Ray White, on that small shed in Queensland, is written the word ‘auctioneer’.
“We believe in that. My grandfather believed in that.”
Mr White said in NSW, the network was proud of its achievements.
“Across the country, we do 25 per cent of all residential auctions,” he said.
