Want to know more?   Contact us today.

Expenses and Results

Results before noonOver the years many leaders have said, “My team loves me. They would die for me.”  This was said when the office’s month-to-date results were pathetic. Your team does not have to die for you, but is it too much for you to expect it to sell for you?

Expenses are incurred by a business daily. You cannot ring your landlord and say, “My business is closed for twelve hours each day. Therefore I will pay only half the rent.” While this concept is laughable, there are many offices that, in spite of the fact they accrue Expenses on a daily basis, fail to accrue Results daily.

Commit to one listing result per day. Any office can achieve this. Once this result standard has become a habit, the next stage is to make a sale each day. If you have the stock, this too is possible.

Time Focal Points are critical to a leader’s results planning. One listing a day. One sale a day. Time Focal Points can even be extended to hiring. You should set a minimum number of first interviews. Just five first interviews per week or 20 per month, will give you two winners per year, which is a half million dollars income per year.

Daily Results

Your office should be hooked on the concept of at least one great result per day. One of the best ways to do this is to achieve early results. Get into the habit of making sure your office’s results are in before noon. Make results happen before noon.

Your office must never close without a result. A business will lose focus without iron-fisted control from the top. Now, please, understand the paradox of that. Iron-fisted control does not mean abusing your team. You are firm but fair and, on certain things, you will not compromise. One of these things is that your office never closes without at least one result each day.

Asking Price Adjustments

Good leaders know that when a seller presentation has been done correctly and the listed property is not sold within two weeks of coming onto the market, the chances are that the asking price should be reduced in order to maximise the selling price. Your team should aim to sell at least 30 per cent of your stock each month.

Some team members avoid addressing the issue of their overpriced stock. They didn’t have to worry about Asking Price Adjustments when the market was booming. In most areas it isn’t booming any more, so we now have to pay special attention to the asking prices of our stock.

Salespeople tend to look on talking with sellers about adjusting their asking price, or as one leader put it, ‘;Giving the price a haircut’, as delivering bad news. This attitude prevents them from doing their job, which is to:

GET THE PROPERTY SOLD.

And we know that the longer we leave a property at a high price, the lower the price the sellers may eventually have to accept. Therefore, as leaders, we cannot allow our salespeople to shirk visiting sellers and asking them to reduce their asking prices.

How they do this is the difference between a good result and an angry client, and this is another matter entirely. We cover this in great detail in our sales program Winning Ways – Real Estate Sales. But the least we should do is insist that our salespeople stop leaving their stock on the market at unsaleable prices.

Fail to address the price issue and your agency could be your competitors’ best asset . While your salespeople leave sellers sitting unsold with your agency, your salespeople could be conditioning those sellers to sell with your competitor. Have you had a property withdraw from sale with your agency and list with another agency at a lower price lately? Now you see what I mean.

For many leaders, it has become all too easy for mediocrity to fester in their offices. In such businesses, while the payment of expenses always seems to occur, the extra profit necessary for the leader to enjoy a good life is absent. The bills are paid but the leader struggles.

By simply setting goals and putting the focus on what is necessary to achieve those goals, by focusing on the actions required EACH DAY to achieve those goals, and setting some basic ground rules, such as one result per day, results will occur if the team is trained and committed. It begins with the leader’s understanding of a fundamental truth:

Expenses occur daily.  From today,  so do results.

Recent Articles

Talent Scout and Coach

To maximise profit, two of the leader's most important roles are Talent Scout and Coach.

Leadership: Not Just Bossing People About

In the 21st century, employees work with leaders, and not for them. "Generational differences have changed the face of employment" says...

Pipeline of Prospects

"The30-Day Rulestates that the prospecting you do in this

Price and Time

In this short sales session, real estate agency profit consultant, Gary Pittard, discusses the danger in allowing sellers to stay on the market ov...

Marketing

When the market turns down many agency leaders wisely cut expenses. But there is a right way and a wrong way to do this. Cut the wrong expenses and yo...

The Forgotten Rookie Syndrome

Many salespeople either become sales managers or move into a leadership role as owners of their own real estate businesses. Gary Pittard, CEO of t...

Hard Tasks Pay

In 30 years I have interviewed countless winners, and have noticed one big difference between winners and their mediocre counterparts: ...

Make the Most of a Golden Opportunity

"This is truly a great career. I wonder how many real estate salespeople actually appreciate the golden opportunity their real estate career offer...

Think Profit

With another financial year behind us, it's a good time to ponder: "Are you happy with your profit?" Stating the obvious: Profit is the mo...

Succession Planning All Talk or All Action

In this short leadership session, real estate agency profit consultant, Gary Pittard, discusses Succession Planning. Many agency leaders talk abou...

Short Attention Spans

A common complaint from leaders is that their salespeople lack focus. It has a been constant theme in my 30 years as a real estate agency profit consu...

Ask for Price Feedback

Property sellers need accurate information from the market if they are to develop an understanding of the correct market price at which their prop...

Want to reach your profit potential? Contact us now.

Pittard


Suite 71, Level 4
330 Wattle Street

Ultimo NSW 2007
Australia


Mailing Address
PO Box 2045
Strawberry Hills NSW 2012


: (02) 8217 8500
Fax: (02) 9281 4198
AUS Free call: 1800 663 600
NZ Free call: 0800 448 065
International: +61 2 8217 8500

: info@pittard.com.au

Contact Us