7 figure Attraction Agent
Tom Panos interviews leading real estate attraction agents. These agents share their strategies for writing 7 figures year after year. Simple, powerful and effective - you can apply these tips to grow your real estate business today. For more FREE tools visit: www.tompanos.com.au
7 figure Attraction Agent
Will Agents ever be TRUSTED? 🗞️ Real Estate Market Wrap
Use Left/Right to seek, Home/End to jump to start or end. Hold shift to jump forward or backward.
- 00:07 – How the 5% deposit scheme (starting 1 Oct 2025) has started to affect the market today
- 03:47 – Why agents don’t have a respectable reputation
- 11:15 – My advice to an agent wanting to leave their office
My Clearance Rate: 10/10 SOLD
Welcome and Introduction
Speaker 1Good afternoon everyone . Welcome to our monthly catch-up ahead of our Byron Bay retreat , which I'm really looking forward to . John , good to see you again .
Speaker 2Good to see everybody . We've still got a handful of tickets remaining , okay .
Speaker 1We'll talk about that , because Susan was able to . Well , actually I sort of did it , but Susan's executed it which we were able to get another 10 people in . So I want to move . So , johnny , let's just move into it , because I'm mindful of our 30 minute .
Speaker 1So I was thinking to myself , based on the conversations that I have with people and a lot of them are on Zooms with agents and I was thinking to myself what are the common denominators ? I see the ones that are doing the better . To me , there are three types of agents You've got your emerging , you've got your growth , and then you've got these pinnacle agents out there , and it's the pinnacle that I was looking at . So , john , I'm just going to share my screen and I'm just going to run through and you can chime in , because I'm pretty certain that what I show you you'll have a view or an extension of what's been said .
Prospecting Like a Machine
Speaker 1The first one is and it doesn't make a difference where they are in their real estate life . They are always prospecting like a machine . And if it's not them , they've got team members , john , that actually are doing the colder type prospecting , but they're doing the warmer type prospecting , and we're talking about calls , door knocks DMs , john . I've had a lot of people tell me that they believe that meeting people out in the streets again might actually sort of become more popular now that cold calling is going to be difficult for people to actually build relationships .
Speaker 2Yeah , I mean we've all seen I'm sure everyone on the call has seen or experienced you know the roller coaster where you've got six listings , so you think stopping prospecting is a good idea and just focus on the listings and at the end of them you got no listings , you got to start again . You lose two months . Um , so you know the best agents that we have in our team they could have 15 auctions on in two weeks time , or six auctions tomorrow , and they would still have in their ideal day , ideal week , two hours of one hour , two hours of prospecting . So yeah , I agree totally . It's got to be consistent , non-negotiable , treated like an open for inspection . You don't cancel it .
Managing Vendors with Truth
Speaker 1Beautiful . Number two they manage vendors , not just listings , and I think by saying that , trust , john , is not lost when the truth , the trust is lost , like a lot of people have got this obsession . Oh , I don't want to upset the vendor , but vendors lose trust when the truth is hidden , not when the price isn't met , because if you can actually show enough evidence to somebody on why you're thinking , that People get it , where the problem is is when you're hiding the truth , you're hiding the data or you're not using data to support what you're saying . And , john , it doesn't matter , like if you're in Brisbane or Perth , which we know the market's probably a touch stronger than in other states , but every vendor does need to be managed in the process , don't they ?
Speaker 2well , not , yeah , they do , and not just need it , but they deserve I mean anyone on this call . If I asked you , would you rather an agent hid the truth from you or told you the way it is so you can make a decision based on facts , not on your own potential fantasy , because sometimes vendors start with a bit of a fantastic expectation . We had one recently where we had a terrific offer for a little apartment in inner Sydney . It was $660,000 and it would have been a record for the suburb it was in . Anyway , long story short is , and I said to the agent you've got to make sure this vendor takes this offer . It's a good offer . We got him down to $665 , deal fell over . He'll now take $6.25 three weeks later and he's ruining the day .
Speaker 2But we've got to take a bit of responsibility because I think the agent was a bit gentle and was a bit trepidatious about giving him the facts . And that's just one of many examples that if you don't tell people what they need to hear and give them the facts , so when the right offer comes along , they grab it . They don't miss it , especially in a market that's a little bit less stable than it was a year ago . It's a bit more nervous , so absolutely critical . Pete Chaunce says every vendor . I deserve to hear the truth .
Speaker 1Beautifully said . Number three they work buyers like they're sellers in a waiting
Working Buyers as Future Sellers
Speaker 1room . That's what the smart ones do . The smart ones do , in fact . I can't remember who said it to me , john , but he said my open home strategy changed the day I made the decision that every person that was going to walk through that door was a potential vendor . I said why is that ? And he goes because I treated potential vendors differently . I said well , you shouldn't . I said the reality is you should actually go into every interaction , thinking to yourself how can I best serve this person ? But put that aside for a moment . His own approach was that he's open home vendors . He would actually give them this incredible level of service . So , john , I know that you've always been a person that preferred to actually build a relationship with a buyer than actually go door knock a cold stranger , and that was your approach .
Speaker 2Tommy , you know one of our dear friends , matt Steinleiginway , the best ever he talks about . Everyone he meets is a pipeline seller . Just some won't be selling for 20 years . But he sees him and not in a commercial way , because he actually firstly sees him as human beings , but from a commercial or real estate perspective . When someone says , oh you know , you take me out of here in a box , matt says problem , I'm going to be around as long as you want . And if someone's going to be , you know , waiting until they retire , which is 15 years away Matt will be there ready and he'll actually note it on his form . This seller might be looking at selling when he retires .
Speaker 2It was interesting about buyer work . I was talking to a buyer's agent during the week or last week . Tommy and she does a lot of work with agents . One is she said she's shocked at how many agents don't return her call when she inquires on behalf of a client about buying one of their listings . So interesting , return your calls . Second one she said she works with an agent in the inner west , in Leichhardt , not far from where you live , and she said she'll often ring them on a monday with with a client who's missed out on an auction saturday before and she'll say , hey , this buyer , this is what they're looking for . Here's what they missed out on . Here are the non-negotiables . And she said by friday that agent will have two or three properties ready to go , that they've door knocked , and . And she said we'll often put that buyer into a great home in a week or two following the auction . Buyer work is critical and buyer work and seller work are interlinked . You can't see them as mutually exclusive .
Speaker 1Now , john , I was going to say that another agent told me today they love buyer agents because they're part of their launch preview showcase . And I said what do you mean by that ? He said , okay , when I list a property , I say to the owners we're not going to nail price . It's a bit of your dialogue , john .
Speaker 1We're not going to nail price today . We're going to get a rough idea . I'm going to give you some comparables . However , we're going to get some great buyer intel over the next few days and I'm going to give you some comparables . However , we're going to get some great buyer intel over the next few days and I'm going to invite the four buyer agents that buy most properties in this part of Sydney and then they use the feedback from the buyer's agents to give it to the vendors and they found it extremely useful to be able to go to the owner and say these four people between them are buying X amount of properties a year in this area and they believe that this is where the property falls into . And it's yeah . I thought it was a fantastic idea .
Speaker 2I mean buyers agents are the best . I mean they're professional buyers , they're incentivized about finding the right home and negotiating a sale or purchase on their behalf of their client . Again , but I constantly hear which is , I have no idea why that a lot of agents . They either ignore them or they almost treat them with disdain , like they're the opposition . They'd be my best friends , for sure . I'd be having a buyer's agent open for inspection before anyone else to get them through and make them feel special . They are the greatest thing you can be , the greatest group you can be working with , for sure .
Speaker 1Beautiful Number
Owning the Auction Arena
Speaker 1four . They own the auction arena and auctions look , auctions are theatre . And , john , you and I have a similar approach . Some people have a view that everything's got to be an auction . I don't agree with that . I think that , oh , everything's got to be an auction . I don't agree with that .
Speaker 1I think that you know when you go to a listing presentation , you work that area in your heart . You know whether a property should go to auction or whether it should be for sale . But one thing is for sure agents that use the auction system and Thomas McGlynn , john , which I know , you know very well , very well , he indicated to me once . He said to me , tommy , one thing the auction clearance rates don't actually have is operator error . So you might have the economics of the same , but there's one agent that knows how to operate the auction system properly and another agent that doesn't and that can also affect the clearance rate . And I think the best agents I know seem to have auction as part of their strategy , even though it might not be their whole strategy . What's your view on auctions and the percentage of properties that should be going to auction and how do you work out whether you should be doing more or less auctions ?
Speaker 2Well , look , you're right , tom . Most of our top agents and those that I do or have coached in the past , they're auction orientated and I think it's an efficient , effective and very good quality way to sell property , not just because it's efficient and effective , because it brings the best price in almost every instance . Having said that , I think you want to have a toolbox with three or four tools and you don't want to just have the auction hammer and then you're going to hope that everything else is a nail . Um , alex jordan , our number one agent , writes 10 million a year , does no auctions as example . Um , which is , which is interesting .
Speaker 2Um , one of the best agents , anthony bakaris , down in , down in the Campbelltown , macarthur region .
Speaker 2He does mostly timed auctions online as opposed to , you know , on-site auctions , but , as you and I know , if you're looking for the majority and you're looking for where most of the greatest success is , it's auctions , and whether it's in-room or on-site probably doesn't matter too much . We like on-site , you like on site , but um , I think the auction process is is the preferred method . Now , what you have to do is not decide based on what you want you . You've got to decide based on what fits the property , what fits the market , what fits that type of property at that time , and if you're about to put a property up and there's six others on the street , they're all identical you maybe putting it up for auction at that time and place may not be that smart and you might only bring out the bargain hunters . But in most instances I'd say that 80 , 85% of the time when I'm selling , I think auction is the best method to get the best price in a timely fashion for the vendor .
Speaker 1John , can I ask you and this came up yesterday I had a vendor reach out to me on social media . They've got the home up for auction . And then another home came available in the street . It's a very similar property , right ? And it's obviously in the same street . They're both renovated . The only difference is the second property appears to have an agent that's quoting 250 grand less right . And the owner reached out to me and said hey , listen , I just got this funny feeling . This property is going to destroy my campaign . He says . I've been in that other property . They're basically similar properties , except buyers are being led to believe that they're going to get at a lower figure . And they asked my view on whether they should do the same . I said well , look , I have a view that underquoting will get you more bidders , but underquoting won't necessarily get you a better price . You're going to get a lot of wastage along the way . And then they suggested should they delay their auction till after that property sells ? What's your view on situations like that ?
Speaker 2Well , it's a hard one , because then you can . You know . Then the other party . I've seen it before where the other party delays and then it just ends up being a silly game . I think , sadly , if you have a competitor who thinks that underquoting is the way and you have similar properties and they're quoting 200,000 less , I say to the buyers , Tom , they're quoting 1.6 . Both these properties are worth 180 every day of the week . Why don't you go and offer them 1.750 and see what they say ? Because I'll guarantee you they'll knock it back . And then they say , yeah , you're right , you know .
Speaker 2I went and spoke to them . They said , oh , we're not taking offers or bids before auction . So I think you've got to try and call their bluff . I think for sure , because it can screw an auction up . And what I generally do if I'm an agent and I'm called in on a property and there's a similar one on the market , I usually say to the vendor let me list it , but let's launch straight following the other property . Because do we really want to create competitive glut in the street ? If it's similar , if it's different , it's no problem . But I agree , I think you've just got to be careful you don't play games with people's emotions and properties and assets . As an agent , what's the best way to get this and what should you be quoting ? And it's now illegal , as we know , probably always has been , but you're going to be caught now .
Speaker 1Number five they live in the database
Building a Magnetic Brand
Speaker 1. That's what I've noticed about the good ones and I'm not going to turn around and say that they necessarily are sitting in front of a computer five hours a day flipping through agent box and that . But what I am saying is that their team normally has got an electronic filing system , which that's what a database is , and everything is noted , every call , every open call , and the memory is not used as the system . Look , the memory is a good system if you want to do one or two sales a month , but the memory is not a good system if you've got to be doing six to eight sales a month .
Speaker 2John , yeah , you've got to be . I think the days of just having a crack at remembering a few people and calling them randomly are gone . I mean , that's better than not calling them . To be fair , I think the best agents now have a systematic precision , military precision style approach and they are calling , you know , past clients every six months . Here's the conversation . Pipeline sellers um , you know hot spotting . You know we do a lot around hot spotting . So when a property sells , you know who can we speak to that has a similar asset that would want to know this information . I think that's critical . And again , I look at our best agents and their past masters at this . I think there are calls you've got to make yourself .
Speaker 2You can't delegate . For me , a past client call should not be delegated because that's someone you've built rapport with . They should see themselves as being a VIP part of your family , and it's delegating that's someone you've built rapport with . They should see themselves as being a VIP part of your family , and it's delegating that to someone potentially more junior than yourself saying I'm calling on behalf of Tom because you know we're so delighted having you as a client . He couldn't be bothered ringing you himself , type of thing . You know the message is not going to be the right message . So I think some things you can delegate hotspotting is a good one , updating the community , but with your VIP clients , with your influencers , with your past clients , I think you've got to make those calls yourself .
Speaker 1I think , john , we're moving into a now with the privacy , the do not disturb and the screen calling , with all these new phone updates and we spoke about it at one of the podcasts I think what's going to actually happen is the databases that are going to flourish are the ones that are smaller , less people , but people have a relationship with those and every time like I was today I was in Manly and I asked someone I go , how many people in your database ?
Speaker 1They said 14,000 . I said look for an office that's got three salespeople 14,000 . I said I think that's going to have a lot of people that are buyers in there , that are people that aren't alive , that people that are tenants . I think realistically , john , if you had 1,000 people that were home sellers in your core marketplace and we know that roughly 5% of those sell there's 50 deals a year that are sitting there and you don't need a hundred thousand people . You need a thousand people that want to get stuff from you because they think you're better than the other 10 or 20 other agents in the suburb .
Speaker 2Tommy Seth Godin says you know , I'd rather have a hundred raving fans in the community than 10,000 people on my database . And that's what you're saying . It's about the depth and the quality of the relationship . Does someone , when they see your phone number a is your phone number in their phone so do they know it's you calling ? B is that they pick up the phone and answer you , or c is that they see you as a pest . So it's the quality of the information and the depth of the relationship you build . So go deeper , not wider . I mean , if you can have 200 roving fans , arguably that's even better , but you can't have 10,000 roving fans .
Speaker 1Okay , let's move on to number six , and that is build a magnetic brand . Build a magnetic brand is build a magnetic brand , build a magnetic brand . And that means probably the video more than the newspaper . It probably means that you've got to do really good killer copy , because I think , john , the quality of your advertising will attract other people that want that quality of marketing themselves . Right , I think you've got a triple down on social , now that we know that ChatGPT is actually used by vendors on agent selection to come to appraisals , and we know that social media is one of the drivers of your digital footprint with AI . And , john , like you always were a person prospecting versus brand , your approach when you were in real estate was hey , if you build the brand , people will be coming to you and then you follow up with walk the calls . That was your approach , wasn't it ?
Speaker 2Yeah , tell me , look , the bar's risen . So once upon a time , you know if , when all agents were taking their own photos , if you had a photographer of any ilk , you'd be shedding shoulders above . Of course , now almost every good agent has professional photos and and so the bar's risen . So you have to keep working harder to stand out . So a couple of things video you've mentioned there I totally agree out . So a couple of things video you've mentioned there I totally agree .
Speaker 2Video is an opportunity to stand out , amongst others . Why ? Because 80% of agents won't do video because they're self-conscious and they , you know it's too hard , it's too expensive . I don't like my , the way I look and sound on video , whatever it is . So if you're prepared to actually bite the bullet and become good at video , if you want to see someone who's great at video , go to Instagram and go to Bort B-O-U-G-H-T agency , bort agency . The principal there , bianca Field , a blonde lady . You'll see her on probably every second video . She is as good as anyone I've seen in front of camera talking to customers in an authentic conversation .
Speaker 1Where is Bort agency ?
Speaker 2They're in the inner conversation . Where are they , chuck ? Where's board agency ? They're in the inner west . I think they might be in Newtown , so you're talking about the buyer's agency . Buyer's agency .
Speaker 1Sorry , yeah buyer's agency , and that's . We spoke about her the other day . She's amazing . That's the block-headed young buyer's agent .
Speaker 2Brilliant . Yeah , that's exactly right . So you know all she's . When I say all she's done , it's a skill . But she's become very comfortable in front of camera and she I said to her you know , do you employ someone to do this and how much do you pay them ? She said , no , my PA does it with her iPhone and when she's got a spare moment I'll say let's duck out and do a video . So this is it doesn't have to be expensive , Um , and you just need to do it . You know , you've just got to actually jump in and do it .
Speaker 2So I think it's important Killer copy . Most agents are probably either using a professional copywriter or , more likely today , AI . So I think , yep , you've got to have the best quality copy . I would say Kevin MacLeod from Grand Designs UK . If you want to know what the benchmark in talking about a property , presenting a property , talking with clients about their vision for a property and talking about the design elements relevant to a property , go and binge . Watch 10 episodes of Kevin McLeod , take down notes on some of the things he says , and he , for me , is the benchmark on the best person that I've seen talk about a property's attributes . He's extraordinary .
Speaker 2So look at Bianca for videos . Look at Kevin McLeod for presenting a property and discussing it and talking to clients about it , and just use more video . Drone , of course , is an underutilized and a very high impact way of bringing some video to life . So I think that it was Chris Gilmore , I think , does a lot of drone timing up in Queensland . Chris is a very successful agent , as you know , and I think he does quite a few fly through type things . So look for a point of difference . As long as it's not gimmicky , that's to add value . So it's got to be useful to the buyer , not just striking your own ego . But , um , yeah , you gotta man , you gotta stand out , you gotta stand out johnny , I'm gonna small advertisement someday .
Speaker 1Joe bachara gave me this the other day or about a month ago . They're around 200 bucks . It's always charged because they're like airpods and what it is is . This has to be the simplest plug and play mics I've ever seen in my whole life . They're always charged and you just sticks on straight away and it's it you're on , you're talking and the sound . I didn't realize that sound does impact the experience that you have , like if you're like , if you're in a close direction , you can speak into your phone . But I swear by these $200 , they're always charged and they've got a second one in case you want to interview someone .
Speaker 2And Tommy , on most Saturdays I watch a couple of videos sorry live streaming that you do on your auctions . I'm amazed more agents don't live stream their auctions . Now you might want to cherry pick it , make sure you sort of maybe live stream those that have got the most amount of interest so you can put yourself in the best possible light . But it's such an easy thing have someone on your team hold , I think you do it through Instagram and TikTok or wherever just do it and present it to the market . And then you do this great little walkthrough at the end where you show people the house so they've seen it at the end . And it's easy Again , just get out there and do it .
Speaker 1Yeah , and I do look . There's no question about it . A successful auction that goes well is going to be a lot better on video . But lately , John , I add the occasional one that doesn't sell , because I actually think to myself that it is a more realistic picture I want to get out there to people and that is that . Not everything is going off and life is good .
Speaker 2If you're thinking of going to a restaurant and you go online , there's 155.0 perfect scores , or you know , let's call it 30 perfect scores you know it's probably friends and relatives that have done it , Whereas if you know if there's two or three that have said , oh you know , geez , I kept waiting for half an hour and I probably won't go back again , but the vast majority had a great meal , You're going to go there . So I agree with you People don't expect perfection . Agents think they have to post perfection , whereas what the consumer wants is actually authenticity and reality . So , yeah , if we shift our belief from it's got to be perfect to it's just got to be , it's got to be out there , it's got to be happening , it's got to be real , it's a much better way of doing it going forward .
Speaker 1Next number seven run your day , don't let it run
Time Management for Success
Speaker 1you . And probably the big thing there , john , I notice of that 1% is that they're selfish with their . They guard their time . They feel guilty when their time is not being used properly . They use a lot of time blocking on things . So they've got this repeatable , predictable . They know that this is the day and the time that I do this thing and I just know that I do it .
Speaker 2And if you're not time blocking , tommy , you're not efficient Because this is an industry , the phone will ring 24-7 . Do I want you to be accessible ? Yes , do you have to be accessible every second of every day ? No , karen Terry , one of our top agents . She hands her mobile phone to our receptionist as she arrives because she's going to go and do two hours prospecting and she says take the messages , give them as much information , I'll call them back at 10 o'clock . If says take the messages , give them as much information , I'll call them back at 10 o'clock . If there's something really urgent , come and let me know , but otherwise I'm here to prospect , then she jumps on the landline and makes all her outbound calls . So I think it's critical .
Speaker 2Phil Harris spoke at ARIC a number of years ago and he's talked about AM energy and PM energy . So for him AM the morning was block it out to generate new business and new phone calls and new prospects and so forth . And then the PM is servicing going to meetings , going to listing appointments , showing buyers , doing open homes . And it reminded me , tommy , of Ryan Holiday that spoke also at ARIC a few years ago . It was brilliant and he's written I think it's 12 bestsellers and he's written I think it's 12 bestsellers and he says the secret to success to him was simple he had two sacred hours a day and it was in the morning , first thing . I think it was like eight o'clock in the morning or nine o'clock after his little one had gone to school .
Speaker 2And he said he blocked out and it was non-negotiable . And he said all I had to do was write a few crappy pages in two hours . So the two concepts there I just want to unpack quickly . One was he called them sacred hours Like you do not break these hours , this is not . I'll get around to it , if I can . So replace writing a book with prospecting as example , or buyer work as example .
Speaker 2And the second thing he said all I had to do was write a few crappy pages . So he didn't say I do was write a few crappy pages . Um , so he didn't say I have to write a masterpiece , I have to write a bestseller , I have to write 10 pages . He knew that if every day he did a couple of hours and wrote a few pages , call it three , four , five or six , and he , you know , he said if they were just authentic and real , he said an editor or someone will clean it up later , but he just had to get the words down on a page without seeking perfection , Because if you seek perfection , you're never actually going to put the word down . You're going to be thinking about it for the next six months . So a few crappy pages in a couple of sacred hours , making a dozen connections with a few people I've never met before in my 60 minutes of prospecting . That's probably a good metaphor for real estate .
Speaker 1John talking about Eric Peter Fuda , which you had speaking at Eric probably about five years ago thereabouts .
Speaker 2More , yeah , more .
Speaker 1More At the end . I don't know whether he mentioned it during his speech he probably did but he mentioned it afterwards when I did a quick video with him . He said the minute you swap time management for choice management , you get more time in your life and I thought that was profound . You can't actually massage time , but you can actually make a decision at that time what is the better decision to make ?
Speaker 2decision at that time . What is the better decision to make ? Yeah , I can tell you from personal experience he's probably the most hardcore guy on his time that I know , and he charges a million dollars a year to coach people , so your coaching fees are sounding pretty good at the moment , Tommy . And the people he coaches they're CEOs of Fortune 500 companies and billion-dollar companies and so forth . So you know , funny enough , the million for them to be at their peak state as a leader is probably a great value . But he's just hardcore on his time . You know . If you want to book in , you can book in in two weeks' time . It's a 15-minute slot and you better not miss it , because if you're five minutes late , he says , look , we haven't got the time to cover it now , We'll re-book in . He's very hardcore .
Speaker 1Okay , let's move on . Number eight building an EBU
Training and Continuous Learning
Speaker 1. That's a weapon , because lone rangers burn out , lone rangers blow head gaskets , the pilot doesn't serve drinks on the plane and , as they say , if you don't have an assistant , you probably are the assistant yourself . So , john , have you ever ? I mean every business . If you look at the top 20 people in the McGrath group , would you say they're all EBUs . They'd have to be , wouldn't they ? Yeah , 100% .
Speaker 2Right , but some of them , by the way , may only have one . I mean there's no need to have five or six . I mean Alex Jordan's got five people , yeah , tarun's got five people , so some will have a slightly bigger team , but there's plenty that have just got but one , probably two is more . They usually have one for administration and marketing and just running the team officially , and then one who's either focused on buyer specialization or prospecting or both . So I'd say the average one in our top 20 would have a team themselves plus two .
Speaker 1Okay , number nine . They stay in training camp like you are right now . They listen to podcasts , they go to coaching . They never graduate . They never graduate . It's not like you do a Bachelor of Education and I'm a school teacher . The real estate course seems to go for 50 years . Isn't it weird , john ? Real estate is like it doesn't matter how long you've been doing it , like today I was listening to someone who was telling me oh , they go about this approach . The other day , someone was telling me that , hey , I go onto RP Data every month and I have a look at all the transactions that have got a dollar , that have happened for that month and I think to myself why is there a $1 transaction there ? Is there something going on ? Is there a separation ? Is there a deceased estate coming on the market ? Right , I think there's a common tendency . I noticed , john , of the good ones , they're feedback junkies . That's probably the word I was thinking of . They're feedback junkies , whereas amateurs they hate feedback because they always see it as being criticism .
Speaker 2Yeah , yeah , no , look , I think feedback's critical . I think it was Jim Rowan years ago . I heard him and he said you got to work harder on yourself than you do on your job , and I totally agree with that . It's all about you know . What can you be ? What are you listening to ? What are you reading ? And , to be frank , I don't read that much anymore . If there's a book someone recommends to me , my default is I go to AI and I say the fault is I go to AI and I say I'm in real estate , I'm a principal and a sales agent . Can you read this book for me and tell me what are the 20 most relevant things for a residential real estate agent ? And I get a summary . So I just , you know , just .
Speaker 1That's gold , because I tell you , I saw you the other day when we were sitting with Andrew Kazi talking about rugby league coaching , and then what happened is you walked away . So Andrew's the Howard , is that Howard Matthews or Howard Matthews ? Yeah , howard Matthews . Okay , he's the Tigers coach . And then what you did is you went on a chat , gpt , and you asked for a summary of the book . I think Legacy wasn't it . Is that the book ? Yeah , yeah .
Speaker 2Legacy . What I did say was you know , I pretended I was him . I said I'm a rugby league coach in Sydney , australia . Can you read this book and tell me and I'm coaching younger people , not older people generally , you know these are sort of under 19s , can you ? And if you can give AI a really precise brief , it will deliver every time . So yeah , I think you know whether it's that podcast . I just you know I'm listening all day long to podcasts and stuff whenever I get a spare minute , walking the dog , walking around , whatever in the car . So I think it's really critical .
Speaker 2And you think about elite athletes . You know the Michael Jordan and the late Kobe Bryant kind of ilk . These were the world's greatest elite athletes , probably greatest in history and yet they used to , on average , train for six hours a day if they weren't playing . Now , these are guys that you know . They didn't have to learn how to shoot or dribble . They were like the best on the planet , but they never stopped training .
Speaker 2I remember Johnny Wilkinson , who was the English goal kicker in rugby union years ago and he's a bit of a legend of a player , plus probably the best goal kicker I've ever seen , and I read a book about him and he said he used to arrive an hour and a half before training every day , so when everyone else was doing whatever they were doing , they weren't at training . He was there just kicking the ball through the posts . And he said anyone that thinks that I was a natural born goal kicker couldn't be more wrong . But he said I work at it harder than anyone else in the world at goal kicking . And I think it's the same list . And you think about it . If Michael Jordan can find four to six hours a day to train to be a better basketballer , how many hours a day are we spending in this industry on our dialogue , on our negotiation skills , on our closing skills , on our presenting skills ?
Speaker 2The answer is not enough . So , you know , I often talk to people and I say you know what ? Are you zero to 10 as a lister ? And they say oh , and to be honest , I'm a six . And I said you've been in the game a few years , you're a six out of 10 . If you're a nine , you'd be earning five times the GCI or the income , and the only thing stopping you from a six to a nine is putting the effort in . It's all out there . This is a smart brigade we're talking to because they're online now . But the question is when you're not online , when we finish , what are you doing next ? Are you doing enough to you know ? Polish up your skills Really critical .
Speaker 1So , john , there's a soccer player that played for the Socceroos , actually went to my school , a lot younger than me , tim Cahill . It was actually in my young brother's year , tim Cahill , and he played for a team that my dad was involved in , sydney Olympic . He ended up , you know , obviously playing for Australia , played for Everton probably Australia's biggest socceroo export and I was talking to someone that played in the same years with him at Sydney Olympic and he said , you know , it really annoys me , he goes . He was always on the bench and he goes how . He sort of got into the team , overtook us and went overseas . He goes . He was always on the bench . I was a significantly better player . I said what do you reckon it was ? He goes . Look , he was just the first one at training all the time . When everything training finished , he was the last one out . Everyone thought he was just doing it to crawl , but he just was there longer than all the others and I think it paid off . That's what this guy said 100% 100%
Protecting Your Reputation
Speaker 1.
Speaker 1Number 10 , and this is important protect your reputation , because it can take you 30 years to build it . Your name is your currency . No underquoting , no shortcuts . Play the long game . Understand that we all have digital footprints now . But , john , you said it the other day , you said it to me privately and we now live in a world where you should be doing the right thing all the time . But if you're not , you should be aware there's essentially a speed camera every 50 meters now Between AI , voice recorders , iphones . Right , you can't get away with doing the wrong thing . I remember you telling me one day oh why did Dewey or some other player do something on the park ? You said , mate , there's 100 cameras watching there , as if you're going to get away with it .
Speaker 2Well , ai , you know and let's just stay in real estate for a minute it's going to impact the entire world , but it's going to mean that the governing bodies , the NCATs and VCATs and OFTs of the world are going to be able to monitor not just properties they're focused on . If they get a complaint , every single transaction you do will be put under the AI microscope and you know , then they're going to be naming and shaming and there's going to be websites , there's going to be fines and whatever , whatever . I'm with you , tom , you know , don't do it . Don't change just because you don't get caught . Change because this is a world of transparency where you should be doing the right thing , and if you do the right thing consistently in fact , every time , not just consistently non-negotiably you're going to build an incredible reputation , and there's not many in this industry with incredible reputation , so you will stand out like a beacon .
Speaker 1John , one quick question what do you reckon is more important , motivation or discipline ?
Speaker 2Discipline , discipline , habits , routine . I think Trump motivation Motivation , by definition , tends to come and go . It'sine habits routine . I think trump motivation Motivation , by definition , tends to come and go . It's like I got motivated I got up early , I went to the gym , I feel great , so I'm going to do it today . Discipline is like every morning . I do this and I do my sacred two hours of calls and here's how I set up for my listening presentation . I think it's just habits and discipline routine process . Now you can be both . Ideally , you want to have discipline , process , structure and have it in as really good energy , but I think that process trumps motivation .
Speaker 1Okay , emma . Hi , emma , good to see you . I'm reading your question . Emma Young , from Wellington , new Zealand , I've got to tell you John Emma's a young woman Kia ora Emma .
Speaker 1Look out for Emma . I think Emma's riding around 2 mil in an area in Wellington where they've had 30% price drops . It's been one of the most challenging markets , it says . Am I being premature by asking should we need to start ordering this ? Shall we be waiting for the intel from you , or where should we start looking to order marriage current database mess , emma . So I think what you're referring to there is how to clean your database , right ? I think that's what you're talking about and I think we're going to do a special session there .
Speaker 1But I can tell you , cleaning a database requires time . I will say some of the CRM companies have got an added service where you go to them and say here's my issues , I want to clean it up . They can help with a few things . Example they'll say we'll strip all the duplicates out , we'll strip all the data that we think that is faulty data , right . But what they're not going to do and it's going to need human intervention is to be able to work out whether some people are alive or dead . Where they are , are they still selling or buying ? Hey , johnny has said there . Terry added there , we're all good , we're all good .
Speaker 1Next time we see you , team , I'll be seeing you in Byron Bay . Check out
Market Updates and Final Thoughts
Speaker 1WhatsApp . I'm going to have all the information there . John , we are in the best Listen . Winter's over , spring is here , daylight savings coming longer days in the afternoons . We've got the best real estate . I mean real estate agents are saying to me I'm happy with this market . Right and out of the blue , all of a sudden , john , I'm hearing a lot of your agents are saying stock is coming in .
Speaker 2I've coached to one of them , alex DiMaggio ASB , our friend Tommy . She's got 35 auction listings signed up and she basically does a relatively small suburb called Earlwood , so her market share must be phenomenal . She does a few outside . And the other one I was sitting down with Patrick Byron today who does botany for us Again , not a huge area , and he's just signed up his 21st auction last night and some of them have launched , but most of them will launch in the next two weeks . There's business out there , business out there . So two things make sure it's coming your way . As a part of Tom's elite team here , it should be coming your way . And I think the second thing is make sure your vendors have got offers on the table . Realize there is a tsunami of new stock , in my opinion , about to hit the market . So if you've got an offer and it's close , I'd be doing everything I can to close it , because it might be gone in a week or two .
Speaker 1And look , we know that spring's a good time in real estate , but we also know that if you get double or triple the amount of listings that you have in spring than what you have in winter , that that causes another issue with getting deals done . But , john , thank you again , thank you Tame Good to see you .
Speaker 2Thanks , tommy .
Speaker 1See you next month . Keep sending the numbers in Quenza .