Just in case you've been hiking to Mount Everest basecamp with real estate mindset coach Jet Xavier and suffering the humiliation of no signal for the last few weeks, I'll greet you with the news that UK based real estate discounter Purplebricks has shut up shop in Australia siting a tough market and poor consumer support.
In a poorly researched and executed advertising frenzy since launching in Australia a few years ago, PB blew $20 million trying to buy market share by selling a message nobody wanted to hear.
Now I don't know about you, but if I had $20 million to blow on marketing, I can think of a hundred better ways to invest it.
But I believe top agents have something far more valuable and that's a formula for helping their sellers sell above market value and the agents I interview right here on the show are not only experts at helping their clients sell for more, they're also more than happy to tell you how it's done. All you need to do is go searching thru my episodes and you'll discover how agents like Marcus Chiminello will earn $4.3 million this year.
Here's a guy who actually grows his GCI year on year regardless of market conditions. If you're new to the show, you'll find a bunch of top agent interviews and great ideas you can start using today.
Purplebricks arent the first fee discounting real estate company who think they know what real estate consumers are looking for and they won't be the last.
And I want to be clear that it's the discount fee real estate services model I'm attacking in this episode not so much the brand.
Obviously, there is fallout following the Australian exit. Jobs are lost, dreams are shattered and careers disrupted and if you're a former Purple Bricks agent, I mean you no disservice and this is by no means a personal criticism. I can understand you're upset and perhaps even angry at what's happening. But if you're committed to staying in real estate, can I suggest you hear my out and see if my argument resonates with your business and marketing compass... and who knows? Perhaps these are event will trigger a positive change in the direction of your career.
Long story short, it's the PB model that troubles me for the simple reason that sellers are under-represented and their homes run an increased risk of being undersold.
I'm going to get into the 5 main reasons why PB failed, why the discount services model is in intensive care and the big marketing opportunities agents have and how you can get your point of difference message out to sellers in your area.
I notice super agents have a simple formula. My guest for this episode shares his and more
But first, I want to say a special thank you for all the great feedback from last week's interview with Garth Makowski.
Garth's tough market talks are impossible to beat and he shared so many winning scripts and ideas on that episode.
If you haven't listened yet, go to topagentsplaybook.com/144
My main mission with the show is to get you up close and personal with real estate's best and give you the takeaways you need to reach the goals you want.
And speaking of top performers and tough markets, the super-agents are rising and I notice almost all use a similar model just like my guest today.
They build a dedicated team of supporters who let them focus on the things that make them money.
These are what I call the blue dollar tasks like prospecting, doing an open, putting a deal together, delivering a listing presentation or getting a price reduction.
They know that almost every other task can be allocated to someone else.
Let's break it down and look at it this way because I want to make a point. If you're a super agent, you're probably earning at the rate of somewhere more than $175 an hour.
So why would you work on tasks that could be competently completed by someone for $35 or $40 an hour?
If you're not at super agent status yet but want to be there, you can simply copy the formula and start looking at your personal business and the regular tasks you're doing.
Why not get some help to let you focus on getting in front of more sellers and buyers. You can start with a virtual assistant for 10 bucks an hour. No wage, or commitment, just pay by the hour.
I've been doing this for years and it's a game changer. You can make a screen share video giving instructions and create a library of training videos behind a private YouTube password channel and you can basically do it all for free.
Start thinking like a super agent and watch what happens. My crystal ball tells me plenty of agents are spinning their wheels at 30 or 40 deals a year that should be doing this to take everything to the next level.
It's simple economics. The more time you can dedicate to your blue dollar tasks, the more results you'll see. It's a law of nature just like gravity.
And my advice to anyone looking to reach super agent status is to study their systems and strategies. If they publish a guide or eBook get it. If they offer a course, buy it. Because that's just what they did to get where they are today.
My guest for this episode is Sydney's Nick Papas.
He's an accomplished super agent earning over $1 million in GCI with a powerful message that will help set you apart from your competition.
He shares his favorite mindset hacks to make sure he's always on top of his game.
He gives his best advice on what agents can be doing to grow their brand position and influence and the best tactics for new agents to get traction early.
If you go to the show notes for this episode you can watch the video of the Zoom call of Nick and I recording this interview. That's at topagentsplaybook.com/145
All that and more coming right up.