Real Estate Gym ‘14Presented 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 VPA

PROSPECT

STAY IN TOUCH

LIST

SELL

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 August 2012 – 31st July 2013

Source: RP Data 1st August 2012 – 31st July 2013

Source: RP Data 1st August 2012 – 31st July 2013

Source: RP Data 1st August 2012 – 31st July 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