Michael Sheargold michael

Hugh Bateman, known for being active in the community. The Property Shop won Community Achievement of the Year in the Australasian Real Estate Results Awards 2016.
Sep
08

Building A Reputation Within Your Community

Your place in your local community is not what you think it is – it’s what the community thinks it is.

One of the things I love most about real estate is that it can allow you to have a highly fulfilling career without having to travel out of your local area every day. Real Estate agents are often some of the best-known figures within their community, simply because they spend so much time there.

I believe community engagement and community reputation are vital for anyone in the business of selling houses. Reputation really is everything and if you are not seen as a trusted person in your local area, you are going to struggle against your competition.

So… what is your community reputation? If you’re sitting back and thinking “people believe I’m the top real estate agent around these parts”, that might not actually be the best thing. Why? Because the way you are perceived needs to go a lot deeper than how many houses you pass under the hammer.

I stand by the old saying “Don’t make connections, make friends.” People are more likely to want to help out their mates, whether it be by lending a hand with their deck-rebuilding project or referring them business.

Your community engagement strategy shouldn’t be a strategy. It should spring from a genuine desire to be a helpful neighbour, fellow business owner and friend.

Some of the ways that you can take steps to be truly valued by the community you work in include:

Sponsoring Local Clubs and Teams

This goes beyond donating money. Get to know the leaders of the organisations. Turn up at events with genuine enthusiasm and promote what these clubs are doing to your client base.

Contributing to local scholarships and donating prizes for fundraising events is another way to boost your support of the people around you.

Host Free Community Events

This could be as simple as a bi-annual sausage sizzle to raise money for a local cause, or as upmarket as an end-of-year cocktail evening. It could be an ‘expo’ style event that promotes local small business. You could organise Santa to turn up for a special children’s’ event prior to Christmas.

These events aren’t about promoting your own business, but about getting to know people in a relaxed environment.

Form Partnerships With Other Local Businesses

Brokers, builders, interior designers and even cleaners are all business owners that you can connect with locally. Promoting their businesses to your clients (provided they are reliable and trustworthy) will organically result in a better referral rate for your own agency.

Be the Best Agent

And I don’t mean by breaking sales records (although yes, that does help). Be the best agent by providing the advice and support that all your clients need to get through the stressful experience of selling their home.

Being the best can be as simple as turning up with a bottle of ‘Spray N Wipe’ or bringing some of your own throw cushions from home to brighten up a living room on open day. Going above and beyond in order to make your vendors’ experiences as good as possible will foster a positive reputation for you in the long term.

Focusing on becoming “the person who has time for everyone” and “the local real estate who has all the best connections” will by default cement your reputation as the best in the area.

The Business of Real Estate has been designed to bring you the best speakers, the latest information and the most effective ways for you to build a brilliant local reputation and a successful real estate business. Book now.


Aug
30

Why leadership is your ultimate competitive edge

Are you only pushing for results, or are you leading your team to success?

One of my favourite quotes is “Your business will never out-perform your leadership.” This is always true in real estate, where a strong crew is universally the result of having the right person steering the ship.

I’ve seen more than my fair share of agencies during my two decades working with real estate leaders. Along the way, I’ve taken in exactly what those performing at an exceptional level are doing. I’ve also been able to review the flaws within the businesses that are struggling to remain relevant.

When I reflect on what I’ve seen over the years, it’s fair to say that the quality and consistency of leadership really is, is the deciding factor in whether or not your agency has the edge. This is because it is up to the leader to set the benchmarks for everyone to strive towards. These benchmarks are set in all areas of your agency.

As a real estate agency Principal, the overall performance of your business should always be on your radar. Here are ten questions to ask yourself that can give you an understanding of how well your business is doing.

10 Point Business Reality Check

1. Does your agency have a strong focus, with consistent vision and values?
2. How steady is your performance culture?
3. Are you effectively positioned for positive momentum in your market?
4. How good is your recruitment and how quickly do new team members hit their stride?
5. Is there a constant drive for productivity and accountability?
6. Does your team have access to training and coaching?
7. How well does your agency retain talent?
8. Do you regularly recognise and celebrate achievement?
9. Could you describe your systems and procedures as “excellent”?
10. How effective and productive are your sales and team meetings?

(Hint: if you’re a great leader, your answers should be along the lines of “Yes”, “Very well” and “Never better”)

All these points are driven (or jeopardised) by the strength of your leadership. Each area needs to be locked and loaded. Yes, it means a lot of work for you as the person in charge, but the payback can be extraordinary.

In a buoyant real estate market, it is easy for a leader to become complacent. But nobody can tell what is around the corner. Want to know how to always pip the competition to the post? Stay rock steady on the above ten points. This means you and your team will be able to deliver above average results in any market conditions.

At The Business of Real Estate, you’ll get up close and personal with some of our industry’s leading thinkers and performers. These people are the cream of the crop in their respective markets and they never lose sight of doing things better. I’ll be there throughout the two days, helping you to maximise the value of the experience and showing you how to grab the top 10 leadership habits and make them work for you. Book your place here.


images
Jul
06

The 6 lists you must carry as a leading agent!

Here’s a strategy that may help you manage your pipeline in super effective way…. The 6 Lists You MUST Carry (at all times)!

  1. Priorities for the day
    This is your to-do list for today. If you have a SuperTeam – list their priorities here as well. This should be made the day before.
  2. Current Listings
    You should be looking at having an on-going communication with your current sellers.
  3. Hot Buyers
    These are the buyers that are either hot on a property or they’re cashed-up and looking to buy in a specific time-frame.
  4. Pipeline A’s
    These are clients getting ready to sign an agreement to list with you.
  5. Pipeline B’s
    These are clients you are positioning yourself to as the agent for them to choose when the time is right.
  6. Change Overs
    These are separated from the pipeline because Change Over buyers are the ones that buys a property this weekend and wants to have their property on the market yesterday.

These 6 lists are the Go-To lists to focus on and have on your person anytime you’re meeting a potential client!


SuperTeams1
Jul
02

The 7 Key Systems of SuperTeams

Here are the 7 Key Systems to have in place with your SuperTeam!

You either have in your business “a system to do it” or you have a “remember to do it” – how well do you think remembering is working out? At some stage, something will fall through the cracks! And as soon as you introduce someone other than yourself into the business, you need to introduce systems – because if you rely only on what you’re remembering, you are setting yourself up and your support person up, to fall flat.

Ask yourself this question: “Is it worth doing these things again?” If the answer is; Absolutely, then create a system for it!

If we look at the word “SYSTEM” it breaks down into:

  • Save
  • Your
  • Self
  • Time
  • Energy and Money

That’s what a system is designed to do – the purpose of any system is save yourself time, energy and money. Therefore, the question that you might ask is: “What are the key systems that we need to have in place?”

Your 7 KEY SYSTEMS with SuperTeams

  1. Generating System
  2. Pipeline Management System
  3. Listing Management System
  4. Seller Management System
  5. Buyer Management System
  6. Negotiation System
  7. Financial Management System

These are the obvious systems with a SuperTeam. If you’re investing time, energy and effort into a SuperTeam you want to make sure you’re getting excellent ROI from that team. So, if you’re a Lead Agent in a Superteam, you would have; your Client Services Manager, your sales assistant, sales support, all in place in such a way that you got every single one of these systems clearly defined and in place.

The power of an idea is in its implementation!” – Michael Sheargold

PS – If you want to know the best strategies to establish and work within a SuperTeam and you’re interested in attending my SUPERTEAMS workshop, feel free to call the team on 1300 273 875 or visit the website for more information.

 


water-droplet
Jun
29

Clarity = Power

“I’m pretty clear that it’s going to be the most motivated agent, who uses the most effective strategies and who takes massive actions to the direction of their goals who wins in the end” – Michael Sheargold.

By identifying the keys to creating greater clarity in your year, you can continue the great momentum you’ve started at the beginning of the year and best handle the real estate rollercoaster. Get really clear – Motivation, Strategy and Action.

5 key clarity points for greater action and results:

  1. Business Generation.
    Look at your Business Generation plan. Is it targeted and focused? Is it going to give you a healthy flow of listing opportunities for your pipeline?
  1. Pipeline Management.
    Does your Pipeline Management need an upgrade? If you look at your pipeline management last year, what is the area that you can actually tweak and hone to see results now?
  1. Time Management.
    Almost certainly there are 1 to 3 things you can do from a time management point of view to give you a greater clarity and a greater focus on what you’re doing on a daily basis to reach your goals.
  1. Listing appointments.
    Are there any upgrades needed to be done with your listing appointments? Check out your listing tools, upgrade your notes, anything clunky at your listing appointment that can literally help you get better results out there in the marketplace.
  1. Service upgrade.
    That’s a service upgrade to your buyers and your sellers. If property management is a part of your business, then what would be a service upgrade to your landlords and your tenants.

These 5 Key Clarity Points are such an important framework for you to be effective and hitting goals right now. Mid year is a great time to review your Top 5 Goals from a Business Point of view and your Top 5 Goals from a Personal point of view and then see what key upgrades come out of the review session.

If there’s something you know that you need to upgrade that will give you the biggest room, the biggest bang for your buck then make sure your put that in place now!


Houses On Business Section
May
06

Growing Your Market Share

Real Estate is one of the fastest industries to grow market share. You can rapidly change your circumstances in a month or two. If we picture Real Estate as a river, it sometimes flows more and sometimes less, depending on the volume of properties being sold. The volume is driven by the marketplace – based on supply and demand.

And because of this – it is not about increasing the flow, it’s about responding to the flow that is there.

There are three keys to growing market share:

Be There

Where specifically? ATT or “At The Table”. If there people thinking of selling in your marketplace and you are not ATT, you remove your chances of winning that business. The main issues of not being there is that your Generating and Pipeline Management is ineffective.

Be the Best

Being the best choice for the client. Make it easy for the client to choose you as opposed to making it hard for them to choose you.
There 4 issues about this:

1. Connect with the client(s)

2. Understand their needs

3. Demonstrate Value

4. Ask for the Business

Sell Through

This comprises the whole sell price, days on the market and so on. To have excellent Sell Through, it should be driven by 4 key components:

1. Process

2. Seller Management

3. By-Out Management

4. Skills and Strategies

That’s what it takes to grow your market share! Be ATT, make it easy for the client to choose you and have excellent sell through. Now, because the market volume is set, every property you list, that’s one less for other agents – and you will quickly grow your market share with the use of the three keys above.


influence
Mar
09

Influencing by Michael Sheargold, CEO Real Estate Results

The fastest way to get what you want is helping other people get what they want.

Real estate is the ultimate win-win-win business. That means, when the seller wins and the buyer wins, then YOU win. Your focus therefore is when you’re on the phone with a buyer is to help the buyer get what they want. Same thing when talking to an owner – and when you come in with that energy, then you can achieve your results faster.

Influencing is basically moving people in direction of a decision.

This works two ways:

  1. Helping people move positively towards an effective decision – specifically an effective decision for them!
  2. Helping people make better decisions.

This is the essence of influencing.

Having completed over 7,000 coaching sessions in the real estate profession I’d like to share with you the Results Influencing Model. As you review the model, ask yourself the question… “How well am I using these points in my current influencing strategy?” And give yourself a score out of 10 on each.

Obviously from there, build for yourself a simple action plan based on what you are going to Start doing… Stop doing… and Continue doing… to make the biggest difference in your results.

Enjoy reviewing – I’d love to hear your upgrades!

Results Influencing Model

  1. Connecting – this is about building positive rapport. If we don’t achieve positive rapport, they will not listen or respect what you are communicating.
  2. Framing – this is the most powerful underutilised influencing strategy in the world today (according to me!). If you master this you will be able to communicate more effectively, negotiate more effectively, be stronger across the board. Framing is about you setting the scene.
  3. Discovering – Stepping into the client’s shoes. Let me ask some questions, tune in and listen to what you are communicating.
  4. Validating – or summarising what you have heard the client say in the discovery process.
  1. Solution – or presenting a strategy to achieve great results – again, based on the steps that have come beforehand.
  1. Commitment – you want to gain a commitment to whatever the next step is.

It works on a 5 minute call, at a listening appointment, at a buyer enquiry – generally in any communication! This is the process of influencing and when we hone our skills at this area, we’ll go to a whole new level.

Some examples of conversation lines you may use:

Setting the scene or Framing… “So I can help you best, do you mind if I ask a few questions?”

Validating… “I have a much better understanding now of what you are looking for in a property. Could I summarise that for you?” Then you go through what it is, and you can then ask them “Is that about right?”

Solution… “Based on what we discussed, let me show you some properties” …”the next step is…” “We can put a good strategy in place to achieve your goal”

Remember to present a solution and ask for a commitment.

Think about how you’re influencing right now – and what you could enhance or upgrade right away to start seeing some positive results. Keep in mind the first point – the best way to get what you want is to help others achieve their goals. Be great at influencing and see your results soar!

For more information about Michael Sheargold, visit: www.michaelsheargold.com


Marketing plan concept with gears
Feb
11

How effective is your stealth marketing?

Had an interesting experience the other day while shopping. One of our Aussie book stores was having a huge sale so as you (or I should say I do) I went to town buying a few “strategic” books to add to my expanding library!

I bought one on home preparation for an effective sale – how to make more money selling. So in the car on the way back home I was flicking through it. What drops out? A business card of a finance broker on the Gold Coast. Hmmm talk about product placement strategies that the big retailers use.

I bet this person has thought… what books will people be buying that would clearly show their interest in property and therefore finance? So I imagine that my experience is not a random one, it’s a very specific, simple and low cast way of targeting and introducing herself to potential clients.

A sort of bonus with the book! Now on that subject the supercharge she could have done would have been had a special card produced that had a value add (call to action) by visiting her website to find a special 10 point finance report to be downloaded for free.

So here’s my question to you… are there any areas where you could look to stealth market you or your business?

Where are your clients hanging out? What are they doing? What do they buy before they think about your services? And what relationships could you create with those “channels” to gain a healthy flow of new enquiries?

So get creative and have some fun with this. I’d love to hear about any of your stealth marketing strategies!


Hands typing on laptop computer
Feb
11

Never email a negative!

Have you ever had someone get the wrong message from a simple comment you said?

Well this is an important email standard I’d like you to adopt because people can’t help adding “stuff” to an email.  This can have you (and them) even potentially your whole team off track.

It might seem plainly obvious to you, but never ever send a negative email!

If there was one exception to that rule it would be a non-delivery of service where you feel you MUST get your point across.

Let’s look at this situation… say you have an issue with a colleague or another department in your business (they may be in the same office as you or located elsewhere)  as soon as you go for it on email and let your fingers take some of your stress, I can almost guarantee that if you press send, you will have a BIGGER issue on your hands.

You see, even simple comments like…

“I have a real concern about what’s happening in marketing” or

“you have taken things totally out of context” or

“that is something you don’t need to concern yourself about”

…are totally valid if we can add some tone and body language face to face, or via Skype even on the phone those same statements will “land” very differently.

I’ve recently been forwarded an email chain (9 emails firing back and forwards) between 3 people in one business.  The reason I got to see these is that it had escalated so much that we now have a conflict resolution issue on our hands.

The original issue was quite small and valid.  But instead of a quick call or email saying… “I’ve got a couple of ideas I’d like to run past you, when is a good time to catch up?”, one of the people fired off an email and yes, it was taken the wrong way – the rest as you guessed is history.

So don’t “hide behind” an email and fire off comments that could very easily be taken the wrong way.

Now it’s okay to get your thoughts on paper or into a doc, but don’t press send!  That’s the bit that will get you in trouble and have you in clean up mode.

Have a brilliant week and please share this with as many people as you can – we’ll make the world a happier, less stressful place.

 


Meeting
Jun
11

I’ve never seen a bad business plan on paper!

Strange but true… in the ‘romance’ of the planning process it’s so easy to get swept into an interesting and exciting mode that may bare little or no resemblance to your current reality.

Now I’ve said many times in workshops you have to watch the “knockers” (let’s call them Challenges or dream stealers) particularly when you’re in creative mode building a new business idea or strategy to take on your world!

What I will say though, once you’re beyond draft and things are crystallising in your mind, it’s okay to run it passed a few people who are less than enthusiastic idea generators and ask them…

Is there anything I/we have missed with this?

Where could my/our assumptions be out?

What’s wrong with this?

Now a lot of people would say avoid these people at all costs but in actual fact they can make a significant difference to the quality of your final plan.

The only rule on the feedback is… the challenger must provide any feedback or challenge as a question.

So instead of them saying… “That will never work.”

They would change it to… “My biggest 2 concerns are the timeline you’ve set and the fact you plan on gaining 20% marketshare within 3 months – how sound are these couple of points? and how do you plan on making it all happen?

Now your challenger isn’t hindering your planning process, the challenger is enhancing the plan.

Have fun with this and I’d love to hear how you go.

Buy the way… a great coach needs a healthy dose of optimism with a great blend of realism.

This simple strategy will help you move from a great business plan of paper to a great business in reality!