How turning business away can significantly increase your earnings

How turning business away can significantly increase your earnings

Marcus Chiminello
by Tim Neary 0 comments

There is a select group of sellers at the top of Australia’s real estate industry. Getting to the top doesn’t happen by chance, and REB Top 100 agent Marcus Chiminello shares his unusual method for achieving success.

Mr Chiminello, who is with Marshall White Melbourne, says he is ruthless about turning away businesses that do not represent his brand.

“Which in turn has enhanced my business to actually become, as Tom Panos talks about, an attraction business,” he told REB on the Secrets of the Top 100 Agents podcast. 

“I get a lot of people calling me, feeling as though they need to use me because I’ve got the runs on the board more than anyone in a particular market.”

Mr Chiminello says has worked well for him and propelled him to success.

“It has a compounding effect. The more I say ‘no’ to business that doesn’t suit my brand, the more the business that I want comes to me.”

He says it is important for agents to specialise at some point in their career.

“Whether it be suburb-specific, price-specific, style of home-specific, that they’re the go-to person,” Mr Chiminello said.

“Thats one thing that I really directed my career, particularly from around seven or eight years ago, to really specialise in a particular market and particular price points.”

Mr Chiminello believes there are a series of logical steps agents would do well to follow as they build their careers.

“An observation that Ive made recently is how real estate agents progress in their career. Primarily, when they first start its all about income, about actually surviving and creating an income and lasting from month to month. Then, once youve got some level of momentum, you start really focusing in and giving thought to your career looking into areas of specialisation. Generally speaking, in most industries, specialists will always make more than generalists.”

Mr Chiminello acknowledges that agents starting out tend to focus on building their skill set and making money.

“You are chasing income, taking listings wherever you can get them to ensure that youve got money dropping through into your account every month,” he said.

But after a period of time, agents should transition out of focusing on income to focusing on career and specialisation.

“A lot of them are absent in that and they become everything to everybody, and can become unstuck ... selling property they dont necessarily want to be selling, but they feel like theyre obliged to sell it because its a listing, rather than being really focused and honed in on a particular market.”

How turning business away can significantly increase your earnings
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