Tom Panos: Sydney Real Estate Gym - Mar2014
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Transcript of Tom Panos: Sydney Real Estate Gym - Mar2014
Sydney Real Estate Gym March 2014Presented by Tom PanosGeneral Manager, Sales – Real Estate
www.tompanos.com.au
If you don’t find them, they will find you! Earn people’s attention in a noisy world
Jab, jab, jab, hook
www.tompanos.com.au
Be their agent before they need an agent
The agent that helps the most people wins
Which One Do You Want to be?
UN
FOCU
SED
FOCU
SED
YOU
YOU
TITLE
BUYER TO
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INSPECTIONCALL BACK
CMA
TRAINING
SHOWINGS
VPA
PROSPECTSTAY IN TOUCH
LISTSELL
YOU Have Two Choices: Be FOCUSED or BE UNFOCUSED
The Main thing is to keep the Main thing the Main thing
Listing Presentations begins at the Open
PV – Chase List
Address Name Phone
Hot Buyer List
Name Phone No. Details
The buyer sources
The Buyers • ACTIVE • PASSIVE• LOCAL• OUT OF AREA
We know where 100% of the buyers will come from but we don’t know where the best buyer will come from
Marketing Dialogue• Can’t control the price but can control method of sale and marketing • Must go fishing in an ocean not in a pool • We know where 100% of the buyers come from – just don’t know
where the best buyer will come from • Your marketing investment is equal to half a bid auction • Are you comfortable with not talking with 100% of the buyers• What’s more important to you the 3k marketing or the risk of
underselling your property by 30k• You need to decide whether we whisper in the room or scream from
the mountain tops
Marketing Dialogue• Your home’s value is dependent on 4 things• If we don’t use 100% of the resources, how will we know we have
achieved 100% of the potential price• Just so I understand first buyer or best buyer? • Wolf on Wall Street analogy • Home is on the market in competition not in isolation• Active intellectual internet vs passive print • When you watch the news you notice the news reader • I don’t want a buyer saying it wasn’t meant to be • We are taking out insurance
Property Address Sale Date Method of Sale
AdvertisedPrice
Marketing Investment
Print Upgrade Online
Video Original Buyer Source
Sale Price
40 Forrester Rd,Erskineville 04/11/13 Auction n/a 17,500 Newspaper 2,100,000
22 Main Dr,Newtown 15/11/13 Private
Treaty 975,000 8,450 Internet 960,000
11 Winters St,Camperdown 28/11/13 Private
Treaty 895,000 8,100 Signboard 883,000
18 Elizabeth St, Newtown 08/12/13 Private
Treaty 980,000 11,000 Internet 980,000
2 Williams Rd Stanmore 12/12/13 Auction n/a 6,500 Internet 800,000
14 Euston St Alexandria 22/12/13 Private
Treaty 1,050,000 9,300 Newspaper 1,040,000
Average $10, 141 $1,127,167
Recent Sales
$698kFull Page ad
$592k½ Page ad
+46%
$476k¼ Page ad
+24%
If this property was in your area, how much would it be worth? (Average response for respondents shown that stimulus; respondents randomised
to see one stimulus each)
Source: Online survey of 196 Australian adults who report they have bought a property in Australia in the last three years (n=139) or are actively looking now (n=57)Survey conducted May 2010 with respondents recruited online and offline
Full Page Ad Increases Perceived Value of a Property by 46%
Source: RP Data 1st January 2013 – 31st October 2013
Source: RP Data 1st January 2013 – 31st October 2013
Source: RP Data 1st January 2013 – 31st October 2013
Source: RP Data 1st January 2013 – 31st October 2013
Source: RP Data 1st January 2013 – 31st October 2013
Source: RP Data 1st January 2013 – 31st October 2013
DON’T USE 1,000 WORDS WHEN
50 WILL DO
Listing Presentation Dialogue
• I can tell you what the market is doing now
• It’s the process not the promise of a price
• I can see the logic in meeting one extra agent…
• We can debate price for hours today between ourselves but the main
conversation about price must be with the new owner
Buyer Dialogue
• You won’t be buying this home in isolation with the owner but under
competition – can I show you how to win?
• Are you going to make a decision for your family based on the
market or based on your life?
• Thank you that price level has already been tested
Prospecting Dialogue
• Were you enquiring about this property in regards to buying it or
comparing it to something you currently own
• Are you researching, buying or selling
• I have 2 buyers who are hot to trot should we quote yours
Closing Dialogue
• When do you want me to start
• When can I start work
• Do you have a spare key or should I get one cut
• When should we start bringing the buyers through
Knowledge is not power –Google is
Success is an inside job
Habit
Podcasts
The things which matter the most don’t always scream the loudest