With Josh Phegan and Pete Mosedale
The Real Estate industry can be both a very rewarding career path, and simultaneously a challenging one too. The market fluctuates, there is a lot of competition, and conditions are forever changing – so it’s important to be at the top of your own game if you want to succeed.
There are some traits and behaviours that can be learned which really separate the high achievers from the rest of the crowd.
Two veteran real estate gurus who are at the forefront of their respective fields are Pete Mosedale, Director of Upstate, and Josh Phegan, trainer and coach for high-performance agents.
Josh recently interviewed Pete to discuss the most important ways that agents can get ahead and achieve.
So, here are their 5 tips to becoming a successful real estate agent today.
(1) Connect with your “WHY”
Pete says you’re never just driven – there’s got to be a “why”.
Purpose is ingrained in the human species to drive us to evolve and succeed; so it’s important that you find the reason why you do what you do. And Pete says finding ourselves in a better place is what it’s all about.
“Your clients buy energy. The rest comes from that.”
Energy, hunger and enthusiasm all play a key part in motivating you to get out there and build momentum. This is because it inspires you to give 110%, and also rubs off on your clients and the team around you too.
Connecting with your purpose will allow you to look at the role you play in a more holistic way and fuel your energy for better results.
(2) Take a full customer-focused approach
Focusing on your customer is nothing new in any industry.
However, what is setting agents and brands apart is the level of consistent service.
“What I say to a lot of agents today is that you have to structure your business based on the number of customers you want to successfully serve,” says Josh. “Not ego.”
An agent lives or dies by the way they service their customers’ needs throughout their journey – and this means that agents need to be in tune with this at all times.
“The reality is that, at every touchpoint, you must be asking people more questions to find out where they live in your ecosystem and how you can best serve them,” says Pete.
Customers are looking for agents to listen carefully to their needs and provide them with guidance to achieve their goals, whether that’s selling, buying, leasing or renting. Every person at an Open Home (an agent’s “show time” according to Josh) represents a lot of opportunity. So, it’s about having deeper conversations and offering them outstanding service each and every time.
(3) Use your data effectively
With the digital environment today, data is absolutely everywhere – and yet agents often overlook it’s potential.
“There are so many quick wins that you can do using data sources like RP Data and Core Logic,” says Pete. “For example, going through past sales, leasing anniversaries and so on can tell you exactly who you need to be talking to and when. You will then know what you need to focus on to bring their business across to yours.”
Josh agrees. “When you start to recognise this, you can’t help but get excited about the size of the opportunity within the real estate industry.”
But it’s not just about using the database effectively.
“One of the biggest challenges holding agents back is that they know their direction, but they have no measurements in place, and then they don’t adjust,” Josh says.
CRM Software should be used to track your client conversations, phone calls and actions to ensure that you know what is working and what’s not. This way, you can determine what conversations are having an impact and what needs to change to ensure that your pipeline is always full of both new and current clients wanting to talk with you.
(4) Question the “norms”
In a world of disruption, it’s important to challenge the way things always have been.
When Upstate established its new brand, Pete and his management team questioned the typical Real Estate office model. Instead, he assembled a team of 65, and built a state-of-the-art, 1000sqm office with hot desks, breakout meeting rooms, technologically advanced auctions rooms and more.
“You’ve built an incredible space for your agents to operate in,” Josh says. “It’s very different, and it’s inspirational – what was the rationale behind this?”
“I feel like the rest of the industry has it a bit wrong. Sure, our office is outside of the norm – but it offers the Upstate team agility, flexibility and independence, while making the whole experience refreshing, digital and innovative.”
This not only improves team morale and culture because – according to Pete, “everyone is totally jazzed to work there” – it also gives clients an immediate impression that stands out in a positive way, especially if they’ve seen a competitor on the same day.
Being an outstanding agent is all about challenging the status quo and daring to be different for the right reasons.
(5) Know your business
“Whether you’re in a tough market or not, the best agents are the ones who roll up their sleeves and get on with the job,” says Pete. “If you expect to make a million, then you need to do the work to have the right to earn it.”
It’s important to align your efforts with your purpose and your goals. These means that market conditions shouldn’t be an excuse, but simply a consideration you need to accommodate for.
“You’re there to do a job for your client, which means asking the right questions and working the right offers. Also, be realistic and honest in managing client expectations so they know they can trust you.”
“And most of all, don’t hope the market will sell your listing for you. Maintain your energy and keep the process moving forward if you want to see success.”
What qualities do high-performing agents demonstrate?
“We’re seeing the old agent persona (who was charismatic and fluked it) disappear,” Pete says. “The new generation of agents are the ones making a real impact.”
These new agents:
- are goal orientated.
- run ‘clean’ operations with tight systems.
- use software, like databases, as tools to get ahead every day.
- don’t simply expect success. They work for it.
- are always open to learn and grow.
- know that they want to be better every day.
“Agents like this are absolutely wiping the floor with the previous agent styles – and the reasons why are clear.”
So – what kind of real estate agent do you want to be?
We look forward to chatting with you soon.
Signing off (and always here to help),
Your local Upstate team
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