Pittard clients are spread across Australia, New Zealand and South East Asia. It stands to reason that they are operating in different markets. Some are in booming markets, some in static markets and some in down-trending markets. But no matter what market they find themselves in, we give all the same advice:
It’s not the market that determines your success, it’s YOU.
It is too easy to blame the market. Seriously, have you got any business problems that a massive increase in listings and sales wouldn’t fix? So why don’t you go and look for listings? I’m sure you agree that this would be a good start.
But not all would agree and, if you are one of those people, I hope to change your mind.
In EVERY market, Listing Flow is ALWAYS the essential focus.
This is a no-brainer in booming markets. When you sell everything you list, it’s easy to understand why everybody on the sales team, and agency management, must make getting listings a priority.
However, in down turning markets, when sales are harder to come by, it’s easy to make sales the focus. I hear many leaders and salespeople say, “I’ve got plenty of listings, it’s buyers we need!” While it might be understandable thinking, taking the focus off listings and putting it onto buyers is a dangerous focus.
For all agencies, always, the essential focus for all leaders and team members should be Listing Flow. You can’t sell what you haven’t got listed.
For those who think they need buyers, there is one simple question: If all your listing were half price, would you have plenty of buyers? If the answer is ‘Yes, of course’, then if you are not making sales, your stock is overpriced.
Now for the “But Gary…”. “But the vendors won’t reduce”. Here we get to the root of the problem: sellers who are holding out for prices they are not going to get in this current market. I put it to you that these are not sellers – their listings are a waste of your time.
Think about all the listings you have that are overpriced with owners that won’t budge. Take those listings off your books and ask yourself, “Now, do you have plenty of listings?” I’ll bet you are now low on stock.
Stubborn sellers chew up a lot of time for no result. Instead of thinking that you have listings, change your thinking:
Do you have plenty of SALEABLE LISTINGS?
This should be your goal for your agency – plenty of saleable listings. Properties where the owners trust you, who want to sell, and will list at fair market prices to do so.
Instead of allowing your team to waste time on listings that aren’t going to sell, wouldn’t it be better to have the team spend that time prospecting, looking for more reasonable sellers, those who are serious about selling?
Without leadership direction, salespeople will chase sales at the expense of listings, or waste large amounts of time on sellers who aren’t going to sell. Take a stand – put the owners of your listings under the microscope and ‘fire’ those who won’t follow advice and price to market.
Then, get the team prospecting. Send out plenty of office marketing. Chase stock, get that stock to fair market prices, and sales will happen.
Listing flow is an essential focus. In every market!