One of Australia’s best agents is about to implement a prospecting strategy that he forecasts will boost his income by 20 per cent.
Brisbane agent Matt Lancashire, who placed 86th on last year’s Top 100 Agents ranking, told REB he is aiming to increase his GCI from $2 million in 2015 to $2.5 million in 2016.
This planned increase will largely be driven by a rise in Mr Lancashire’s average sale price, which in turn will come from a proactive prospecting strategy that is designed to get him in front of more high-net-worth individuals.
Mr Lancashire, who is the principal of Ray White New Farm and Ray White Spring Hill, plans to speak each week to five prestige owners whom he doesn’t know.
He will return to work today after a five-week holiday, during which he has been contacting some of these owners by phone, email and LinkedIn.
“I’m a big believer that everyone is a seller at some point – they just don’t know it yet,” he said.
“I’d hate to miss an opportunity because I thought they weren’t going to sell and they end up selling with someone else because I have no relationship with them. My goal is to build massive relationships with people I don’t know who are in that [prestige] space.”
Mr Lancashire estimated that about 80 per cent of prestige owners are interested in discussing real estate, either because they want to know about the value of their residence or want to build their knowledge so they can better manage their investments.
As a result, he expects most owners will be receptive to his approaches, which in turn will give him a foot in the door if they one day decide to sell.
“If an agent knocks on a client’s door that they don’t know and says, ‘My name’s Matt, do you want to sell your house with me?’, the answer is going to be ‘No, go away’,” he said.
“But if you go in and say, ‘My name’s Matt, I’m not here to sell your house, but I’m pretty active in this area and would really like to build a relationship and keep you posted with everything that’s going on in the market’, then you build a relationship like that.”
Mr Lancashire sold a Hamilton trophy home last year for $11.8 million – a result that took his business to another level, he said.
“The client […] referred me into three properties that I ended up selling for over $5 million,” he said.
“I ended up doing seven deals over $5 million for the year and four of those deals happened in the last quarter of the year.”
Mr Lancashire will be entering the 2016 Top 100 Agents ranking. Submissions are due by 12 February. Click here to enter.