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Property to regain momentum following health crisis

April 03, 2020Cameron Micallef

Strong property price growth prior to the outbreak of COVID-19 gives investors a snapshot of what market conditions will be like once the pandemic passes, an industry expert argues. ...

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top 10 agents

1

ALEXANDER PHILIPS

Year of Experience: 17

Support Staff: 5

Residential Properties Sold: 208

Total Value of Residential Properties Sold:

$614,864,500

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TECH MARKETING SALES BETTER BUSINESS PROPERTY MANAGEMENT
agent using smartphone 2 reb Agents after more tech solutions amid COVID-19

New research has highlighted the growing need real estate agents have for innovative technology solutions. ...

Agents after more tech solutions amid COVID-19

New research has highlighted the growing need real estate agents have for innovative technology solutions. ...

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With digital disruption showing no signs of slowing down, agents are being encouraged to utilise technology, rather than ...

searching the internet reb Real estate boss shares marketing tactics

The owner and CEO of an elite Queensland agency has revealed how being conscious of both print and digital marketing has ...

Louis Christopher WEB How to analyse property data

Property data is undeniably a critical tool, but how does one navigate the abundance of information available without p ...

Graeme Hyde WEB What makes a high-performing office?

With 25 years of industry experience under his belt, Graeme Hyde understands the formula for a successful real estate of ...

Tara Bradbury WEB A completely paperless approach to property manage ...

Tara Bradbury launched Active Agents last year as a means of presenting an entirely paperless property management operat ...

James Lampropolous WEB A project marketer’s take on being a successful ...

As REB’s top-ranked project marketing agent with over 20 years of industry experience, James Lampropoulos advocates fo ...

Louis Christopher WEB How to analyse property data

Property data is undeniably a critical tool, but how does one navigate the abundance of information available without p ...

Graeme Hyde WEB What makes a high-performing office?

With 25 years of industry experience under his belt, Graeme Hyde understands the formula for a successful real estate of ...

Tara Bradbury WEB A completely paperless approach to property manage ...

Tara Bradbury launched Active Agents last year as a means of presenting an entirely paperless property management operat ...

James Lampropolous WEB A project marketer’s take on being a successful ...

As REB’s top-ranked project marketing agent with over 20 years of industry experience, James Lampropoulos advocates fo ...

Positive Mindset in Business reb The impact of a positive mindset in the business o ...

Let’s be real: running a business or an office is stressful. Here’s a quick rundown of some insights on keeping yo ...

Cameron Black reb Lies and statistics: Has the property market actua ...

It seems like there has been a huge change of sentiment in the last month as a confluence of factors has come together t ...

short 850x400 june2019 How to get that big win

Getting a big win is more than just sales. It involves strategic planning and setting goals, according to real estate bu ...

MeganSmith 050719 cropped Ray White’s Megan Smith sells $14m property in B ...

Ray White Balmain sales dynamo Megan Smith has sold one of the most expensive houses in Australia this year, with the pr ...

Calls to class real estate as ‘essential’

In the event of further restrictions in response to the coronavirus, an industry group is calling for real estate servic ...

forrent house reb 1 Eviction freeze only fixes one side of rental equa ...

The government is being urged to implement immediate rental subsidies for tenants bearing the brunt of COVID-19. ...

Peter Koulizos reb Wage subsidy to ‘relieve financial pressure’ f ...

The federal government’s recent JobKeeper wage subsidy is set to significantly help relieve rental and mortgage stress ...

Bradley Beer reb New online calculator to ‘revolutionise’ prope ...

In what’s being described as a market-first, BMT Tax Depreciation has launched a new online calculator which it says w ...

EVENTS
REB Awards 2018 logo 01 1
Real Estate Business Awards 2020

The REB Awards is the benchmark of success in the Australian real estate industry. It reflects not only the business astuteness of the country’s leading real estate operators and networks..

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Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of REB.

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How typical real estate agents respond to leads

17 February 2020 Zoe Pointon
Zoe Pointon

What does the performance of a typical real estate agent look like in Australia, and how good are they at converting leads into listings?

Data from the Behaviours of Top-Performing Agents Report shows there is a big gap between the success levels of average and top performers, created by some very small shifts in behaviour. 

Put simply, top performers win more than twice the number of listings that go to market compared to average performers because they do three things just a little bit better. Top performers contact all their leads (not just most of them), contact their leads faster and then dominate during appraisals. 

Here are the benchmarks for comparison:

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Average agents: 

  • Respond to 96.7 per cent of their leads
  • Take 146 minutes (2.5 hours) to respond
  • Make contact with 69.9 per cent of the leads they reached out to
  • Receive appraisal appointments with 35.7 per cent of those they contact
  • Win 42.6 per cent of the appraisals they go to
  • Win 18.5 per cent of all the listings that go to market

Top-performing agents

  • Respond to 100 per cent of their leads
  • Take 98 minutes (1.6 hours) to respond
  • Make contact with 75.4 per cent of the leads they reached out to
  • Receive appraisal appointments with 52.7 per cent of those they contact
  • Win 63.7 per cent of the appraisals they go to
  • Win 41.9 per cent of all the listings that go to market

You can see in these numbers just how much better the top 10 per cent of agents are compared to average performers who sit around the 50 per cent mark. 

But it also reveals a pretty clear path to how to be a better agent. Focus on being thorough and fast to respond to your leads and hone your appraisal skills. 

Most importantly, however, make sure you know how good you are at these key metrics in reality — using data, not just your gut instinct. 

What proportion of leads do you contact? How long does it take you on average to reach out to a lead? And how good are your appraisal skills really? You’ll be able to work this out by calculating the proportion of business you win from your appraisals. The question then becomes: do you have the tools to measure these metrics easily?

The Behaviours of Top-Performing Agents data shows that when agents respond quickly to leads, they establish trust with potential sellers, which sets up the rest of the relationship for success. The longer agents take to respond, the higher the hurdle becomes in winning over the vendor. And in some instances, that slow response does such damage that it discourages the vendor from listing altogether.

But improve your game across the three key behaviours of contacting leads, being fast and delivering great appraisals by even just a small amount and you’ll significantly power up your performance.

By Zoe Pointon, OpenAgent CEO

How typical real estate agents respond to leads
Zoe Pointon reb
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Recommended by Spike Native Network

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of REB.

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Do you have an industry update?
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