Real estate trainer and coach Tom Panos explains how agents and brokers can grow a successful business by following the same simple prospecting strategy.
Speaking to The Adviser, Mr Panos said he sees real estate agents and mortgage brokers as “extremely similar” professions.
“Some of the things I see [that] make them closely aligned are, generally speaking, the agent or broker who makes the most amount of appointments wins in the end,” he said. “So we pretty much know it’s a job of lead generation."
“The next thing I see that is very similar is, when we talk about prospecting, without a doubt, the best form of prospecting is providing incredible customer service.
“If you do it very well, what you are doing is recruiting and creating an army of salespeople for you. And they are happy customers that go off and create other happy customers.”
Mr Panos said the job of an agent or broker is “process driven”, adding that he finds it interesting that engineers make excellent salespeople because they have “logic in the steps”.
“What we clearly know is that in broking and in real estate, the person who has the most amount of conversations and stays in contact with those people means that they are on the shopping list at a time when a client needs to make a decision,” he said.
“But it’s having this ability to stay on the shopping list when they are not making a decision, where a lot of brokers and agents seem to drop out.”
Many agents and brokers are not prepared to keep doing things without getting rewarded for them, Mr Panos said.
“So I would say that real estate and broking are pretty much the same – it is not a sprint. It’s a marathon.”
Mr Panos will be master of ceremonies at the 2016 Better Business Summit, where he will also moderate the broker insights panels and keynote a session on practical sales strategies.
The Adviser’s Better Business Summit, in conjunction with The Adviser’s Better Business Awards, will be held in Brisbane on 18 February, Melbourne on 25 February, Sydney on 3 March, Adelaide on 11 March and Perth on 17 March.
Click here for more information.
[Related: Better Business Summit 2016 agenda revealed]
James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.
He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.
He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.
James holds a BA (Hons) in English Literature and an MA in Journalism.
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