One of Australia’s best performing agents says that when he was just staring out in real estate 33 years ago, one high-performing international agent he heard speak at the very first AREC event taught him a super important lesson, and one that he has never stopped implementing. It was about the ability to have more time.
“(Leading US agent) Bob Boland talked about ‘prospect, list, negotiate, sell — everything else doesn’t matter’,” REB Top 100 Agent, Marshall White’s James Tostevin, told REB.
“Now something as simple as that is gold because agents generally get caught up with doing a whole range of different things that are so time-consuming, absorb so much time, but take them away from essentially what they are meant to be good at.”
Mr Tostevin said that simple piece of wisdom created leverage for him to expand his influence in his local catchment area.
“I could do a lot more prospecting and appraisals,” the agent said.
“And when there was a listing opportunity, I was able to devote more time to that listing opportunity.”
High-performing agents, he said, give you a sense of how to do things more effectively, in less time.
And that is invaluable, the agent added.
Renowned coach to some of the best performers in Australia, Josh Phegan said that he doesn’t always buy into the international vs domestic conversation.
“It’s more about who has got the idea that really encapsulates the consumers’ preferences and deliver it in such a way that it gets someone so motivated that they go and put it back into their business to affect the way that they serve the consumer,” Mr Phegan said.
“There is a real risk that they may not learn anything from international speakers because often the domestic speakers are best on ground in understanding the local dynamics.”
Mr Phegan added that while Australia plays the game the “hardest and fastest” in some of the best markets in the world, there are international elements that we just don’t do at all here.
“For example, in the UK they have something called the blended fee — for not only selling the property but also includes additional fees that are generated through the sales process, including things like life insurance, right the way down to gas and utility connections.
“So, it is about learning and keeping an open mind and being in that conversation that this one may bring a completely different conversation.”
For acclaimed real estate trainer and keynote speaker Lee Woodward, the Australian and American models are so different that it’s sometimes hard to make comparisons.
“Because the American model uses the multiple listing system. So, you can actually be an agent in the states and never list anything. You’ve got 3,000 houses, you can start selling at any given day.”
But Mr Woodward feels we can learn from the US in an adjacent space.
“In Australia, we have to learn to work with our surrounding property partners — the builders, the architects, the carpenters — and bring together a product that isn’t just title.
“There is a packaging-up deal in the US that we can learn a lot from.”