McGrath Parramatta grows business by growing its people

Indeed, the agency ranked eighth after selling 525 properties for $556.1 million across the 2022 calendar year.

Principal Kon Stathopoulos told REB that the agency’s philosophy of growing its business by growing its people has borne fruit in this year’s ranking.

“We have an internal ethos that good people make great real estate agents,” he said.

“Our selection criteria for recruiting agents are quite strict in relation to their cultural fit and their ability to learn. They must be coachable, and more importantly, do great work in the community.”

The agency also prioritises providing agents with strong infrastructure support and resources to remove any friction that prevents them from being productive, Mr Stathopoulos said.

This is being done through two different units within the business units, including agent services and marketing services.

“The agent services team is designed to remove all the unnecessary administration that comes with a listing, exchange and everything in between,” Mr Stathopoulos explained.

“Our marketing services team specialises in vendor and agent paid advertising. We have dedicated resources and staff to help agents elevate their personal brand in the community. They also help build the best campaigns to get the most amount of buyer attention and eyeballs through portals and social media platforms for their vendors.”

A coaching team is also available to remove any barriers (psychological or otherwise), the principal said, including closing deals or securing listings.

“Our coaching team are on the field helping our agents solve problems in a practical way so agents can help their clients, and grow their business,” Mr Stathopoulos said.

Building and leveraging momentum

Another strategy that has contributed to McGrath Parramatta’s success, according to Mr Stathopoulos, has been building momentum by consistently growing listings and hiring qualified agents, repeating this process, and leveraging the results to grow at an exponential rate.

“For example, if we get a great listing, we leverage it in the most appropriate way on social media platforms, or through editorials, PR, letterbox drops, effective campaigns, open homes, and excellent auctions. We then create case studies off the back of that,” he said.

“That’s going to breed more ongoing listings and deals.”

Around half the properties listed by McGrath Parramatta are sold via auctions, while the remainder are sold via private treaties, or off-market (also referred to by the agency as a soft launch or a pre-launch before it enters the market).

The team of agents sold a range of properties in 2023 from a studio apartment for $380,000 in Guildford, to a five-acre luxury home for $9.85 million in Dural, “and everything in between”, he said.

“We check our buyer database to see if they have expressed interest in similar listings or sales that we’ve had recently. We then see whether or not we can take the listing to active buyers or under bidders before we launch it to market.” Mr Stathopoulos said.

He also attributed the ranking to a robust marketing strategy through exposure on social media platforms, print media, and portals.

“It depends on what we’re trying to achieve,” Mr Stathopoulos said.

“If we’re trying to get a buyer’s attention, we give them as much information as possible so that they can make the informed decisions. This could include building and pest reports, strata reports, comparable sales, and recent listings so they can compare them to what’s on the market.”

The agency also uses case studies, listings, and social media to increase brand awareness.

“We send content to our team such as a case study, a great listing, or a video of an event. They use an internal software to copy it and post it on their socials,” he said.

“As a result, we get the multiplier effect. Our content goes out on hundreds of Facebook and Instagram posts at the same time.”

Mr Stathopoulos said he and his team aim to continue growing momentum and market share (particularly in Parramatta) this year, while servicing vendors, buyers, landlords, and tenants.

He also underscored the importance of maintaining a culture of teamwork and camaraderie, and urged other agencies to do the same.

He concluded: “My advice to others would be to put leadership at the forefront of everything you do. Love your people. The agent, property manager, or the staff member comes before profit.

“Build a culture and vision that's so good that they never want to leave and they all want to join. Give everyone equal opportunity to grow their careers and earn great income and more importantly be there for them when they need you the most.”

Click here to download the complete REB Top 50 Sales Offices 2024 rankings and report.