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Tom Panos - Adelaide Real Estate Gym - Mar2014

Tom Panos
Tom Panos

This document summarizes key points from a real estate training presentation by Tom Panos. It emphasizes focusing efforts on marketing properties extensively to reach all potential buyers, maintaining contact with prospects and past clients, and using concise language focused on moving deals forward when speaking with clients. Sample dialogues provided illustrate focusing conversations on the client's goals and needs rather than lengthy discussions. Data shown indicates higher sale prices, lower days on market, and higher success rates for properties with both online and print marketing compared to online only.

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Adelaide Real Estate Gym March 2014 Presented by Tom Panos General Manager, Sales Real Estate www.tompanos.com.au
If you dont find them, they will find you! Earn peoples attention in a noisy world
Jab, jab, jab, hook
Be their agent before they need an agent
The agent that helps the most people wins
The Main thing is to keep the Main thing the Main thing CALL BACK INSPECTION TRAINING YOU FOCUSED SELL LIST STAY IN TOUCH YOU PROSPECT VPA Which One Do You Want to be? CMA TITLE SHOWINGS BUYER TOUR UNFOCUSED YOU Have Two Choices: Be FOCUSED or BE UNFOCUSED
Listing Presentations begins at the Open
PV Chase List Address Name Phone
Hot Buyer List Name Phone No. Details
The buyer sources We know where 100% of the buyers will come from but we dont know where the best buyer will come from The Buyers ACTIVE PASSIVE LOCAL OUT OF AREA
Marketing Dialogue Cant 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 dont 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 Whats 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 homes value is dependent on 4 things If we dont 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 dont want a buyer saying it wasnt meant to be We are taking out insurance
Recent Sales Property Address Sale Date Method of Sale Advertised Price Marketing Investment 40 Forrester Rd, Erskineville 04/11/13 Auction n/a 22 Main Dr, Newtown 15/11/13 Private Treaty 11 Winters St, Camperdown 28/11/13 18 Elizabeth St, Newtown 2 Williams Rd Stanmore 14 Euston St Alexandria Print Upgrade Online Video 17,500 975,000 8,450 Private Treaty 895,000 8,100 08/12/13 Private Treaty 980,000 12/12/13 Auction 22/12/13 Private Treaty Average Original Buyer Source Sale Price Newspaper 2,100,000 Internet 960,000 Signboard 883,000 11,000 Internet 980,000 n/a 6,500 Internet 800,000 1,050,000 9,300 Newspaper 1,040,000 $10, 141 $1,127,167
Tom Panos - Adelaide Real Estate Gym - Mar2014
Tom Panos - Adelaide Real Estate Gym - Mar2014
Tom Panos - Adelaide Real Estate Gym - Mar2014
Full Page Ad Increases Perceived Value of a Property by 46% 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) +46% $476k 村 Page ad +24% $592k 遜 Page ad 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 $698k Full Page ad
RP Data Media Maximiser Adelaide Advertiser RP Data Media Maximiser - Adelaide Advertiser Average DOM Success Rate 120 100 80 60 40 20 0 100% 80% 60% 40% 74% 67% ONLINE and PAPER ONLINE ONLY 20% 0% 68 72 ONLINE and PAPER ONLINE ONLY Average Sale Price $500,000 $490,000 $480,000 $470,000 $460,000 $493,863 $450,000 $440,000 Source: RP Data Feb 1st 2013 to Oct 31st 2013 RP Data Media Maximiser $460,040 ONLINE and PAPER ONLINE ONLY
DONT USE 1,000 WORDS WHEN 50 WILL DO
Listing Presentation Dialogue I can tell you what the market is doing now Its 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 wont 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 dont always scream the loudest
Tom Panos - Adelaide Real Estate Gym - Mar2014

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Tom Panos - Adelaide Real Estate Gym - Mar2014

  • 1. Adelaide Real Estate Gym March 2014 Presented by Tom Panos General Manager, Sales Real Estate www.tompanos.com.au
  • 2. If you dont find them, they will find you! Earn peoples attention in a noisy world
  • 4. Be their agent before they need an agent
  • 5. The agent that helps the most people wins
  • 6. The Main thing is to keep the Main thing the Main thing CALL BACK INSPECTION TRAINING YOU FOCUSED SELL LIST STAY IN TOUCH YOU PROSPECT VPA Which One Do You Want to be? CMA TITLE SHOWINGS BUYER TOUR UNFOCUSED YOU Have Two Choices: Be FOCUSED or BE UNFOCUSED
  • 8. PV Chase List Address Name Phone
  • 10. The buyer sources We know where 100% of the buyers will come from but we dont know where the best buyer will come from The Buyers ACTIVE PASSIVE LOCAL OUT OF AREA
  • 11. Marketing Dialogue Cant 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 dont 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 Whats 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
  • 12. Marketing Dialogue Your homes value is dependent on 4 things If we dont 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 dont want a buyer saying it wasnt meant to be We are taking out insurance
  • 13. Recent Sales Property Address Sale Date Method of Sale Advertised Price Marketing Investment 40 Forrester Rd, Erskineville 04/11/13 Auction n/a 22 Main Dr, Newtown 15/11/13 Private Treaty 11 Winters St, Camperdown 28/11/13 18 Elizabeth St, Newtown 2 Williams Rd Stanmore 14 Euston St Alexandria Print Upgrade Online Video 17,500 975,000 8,450 Private Treaty 895,000 8,100 08/12/13 Private Treaty 980,000 12/12/13 Auction 22/12/13 Private Treaty Average Original Buyer Source Sale Price Newspaper 2,100,000 Internet 960,000 Signboard 883,000 11,000 Internet 980,000 n/a 6,500 Internet 800,000 1,050,000 9,300 Newspaper 1,040,000 $10, 141 $1,127,167
  • 17. Full Page Ad Increases Perceived Value of a Property by 46% 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) +46% $476k 村 Page ad +24% $592k 遜 Page ad 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 $698k Full Page ad
  • 18. RP Data Media Maximiser Adelaide Advertiser RP Data Media Maximiser - Adelaide Advertiser Average DOM Success Rate 120 100 80 60 40 20 0 100% 80% 60% 40% 74% 67% ONLINE and PAPER ONLINE ONLY 20% 0% 68 72 ONLINE and PAPER ONLINE ONLY Average Sale Price $500,000 $490,000 $480,000 $470,000 $460,000 $493,863 $450,000 $440,000 Source: RP Data Feb 1st 2013 to Oct 31st 2013 RP Data Media Maximiser $460,040 ONLINE and PAPER ONLINE ONLY
  • 19. DONT USE 1,000 WORDS WHEN 50 WILL DO
  • 20. Listing Presentation Dialogue I can tell you what the market is doing now Its 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
  • 21. Buyer Dialogue You wont 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
  • 22. 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
  • 23. 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
  • 24. Knowledge is not power Google is
  • 25. Success is an inside job
  • 26. Habit
  • 28. The things which matter the most dont always scream the loudest