Despite a shrinking market, one principal has managed to increase his agency’s share of local sales to more than one out of every three.
According to principal of Cunninghams Property in NSW John Cunningham, his agency's sales went up 12 per cent in a market that had fallen by 15 per cent in the past 12 months.
Mr Cunningham has shared with Real Estate Business his three top tips:
1. Rely on your team
After more than 30 years as an agent, Mr Cunningham decided to focus on building his team more than making transactions himself.
“I learnt that by empowering my team they will shine,” he said. “That is what has happened over the past five years. Our business has more than doubled.”
He said it was the leader’s role to inspire, empower and connect with their team who, like clients, needed to be treated with care and respect.
2. Create an environment where deals can happen
According to Mr Cuningham, agents are in the business of influencing clients and customers to make good decisions.
“We are not here to just convince them. Create the environment where your clients ask you a simple question, 'What do you think I should do?' - That should be your ultimate goal."
The key to this was ensuring clients had a positive experience through communication, instilling confidence in them, taking care and building connections with them.
If agents delivered the best possible outcome for a customer, they become an agency’s advocate and raving fan, Mr Cunningham said.
"I believe that this is true negotiation, rather than the hard-nosed or trickery-based tactics that are spruiked in much of the training marketplace."
3. Know that everyone has a role
Mr Cunningham said every person that comes into contact with an agency has a role in the business. They can be sorted into one of five categories: hot seller, warm seller, hot buyer, warm buyer or advocate.
"Whether you meet people through prospecting, open homes, networking or from marketing activities, discovering what their particular needs are and then delivering the relevant information, value or assistance consistently is all it takes," he said.
Mr Cuningham will offer his advice to other principals and agents at the Ideas Exchange conference in Melbourne, Sydney and Brisbane next month.