It’s a phrase that has gained popularity over recent years and one that is touted by real estate coaches and trainers far and wide. But what exactly is an attraction business?
Belle Property Australasia tossed the question to three people in its network, each at different stages of their career. Their responses made one thing abundantly clear: There is no one-size-fits-all answer.
After more than 30 years of developing profitable franchise structures, CEO Peter Hanscomb says that it’s about contagion — but in a good way.
He puts it simply: “Everybody wants to be around successful people because if they are surrounded by success, they’re motivated to become more successful by the association. That’s fundamentally what it comes down to.”
Principal of Belle Property Dee Why Brendan Pomponio says that there are two clear elements that make a business attractive from the outside: reputation and brand.
“When I hear those words, I think of reputation, trust and loyalty. For my agents, I think of them becoming the go-to person, a living-room name and a trusted adviser.
“From a business perspective, it’s about creating a brand, and the values that lie behind it, that people want to associate their future with. It’s like buying a Louis Vuitton bag; you hold on to it forever.”
Senior BDM and Belle’s chief auctioneer, Andrew Robinson, says that an attraction business isn’t a term that exclusively refers to an office, but one that should drill down to each individual within that business.
“All of a sudden, you aren’t doing business the way you’ve done it in the past,” Mr Robinson says.
“People know who you are; they trust you, like you, respect you and they know you deliver results.”