Tom Panos presented at the One Agency Conference 4th July 2013 - this video is a selection of highlights from his Attracting Business & Marketing presentation.Knocking on doors, interrupting strangers that don't want to talk to you is not what 7 figure agents that write $1,000,000 a year do. Seven figure agents, what they actually do is that they have an ability to attract to them people that want to list a property at that time. Whereas struggling agents seem to do a lot of cold calling, smart agents seem to do smart calling. Smart agents run what I call an attraction business. They attract vendors that want your services. Struggling agents are constantly knocking on cold doors, interrupting strangers, trying to coerce them when these people don't want an agent. I worked out that one of the secrets of these agents was that they have a lot of media in print and online. They're the agents that have got the listings on page 1 and page 2 of the search results.
When the vendor invests in marketing they have skin in the game, and when a vendor has skin in the game they listen to your feedback. Why? Because they paid for the damn feedback. They paid for the feedback so they listen to it. When they don't invest in marketing you can say things to them and they think, "So what? I don't own that feedback, you own it because your time and money has gone into it," but the minute that they paid for the feedback they own the feedback. That's what sells property. Motivated vendors.
When you're marketing real estate you're not only finding buyers you're positioning real estate.
It is not the best product but the best marketed product that has market share. Applies in a lot of industries, too, not just real estate. It applies in personal training with Michelle Bridges, it applies in all businesses, which brings us to a very interesting subject which is that it's not who you know it's who knows you. I want you to understand that you are someone that is got a partnership with One Agency, but in fact you are a brand. Brand is what people say about you at the schools, at the cafes, at the restaurants, at soccer practice when you're not there. I've got to tell you that everything that you do in real estate is either building or destroying brand equity in you.
I've got to tell you that if you want to be one of these real estate agents that's riding over $500,000 in gross commission you've got to move from being a transactional agent and start becoming a brand in a marketplace. Don't get me wrong. You'll still be successful if you choose the path of not doing vendor paid marketing and running an attraction business. You'll still be successful, you'll just do more calls out than calls come in.
Brand is made up of 2 dimensions. Your reputation. Your reputation is what people are saying about you. I know thousands of great real estate agents in Australia, they've got a good reputation. Like someone says they're a good honest person, "He's a really nice person." There's only one issue. They don't make money and the reason they don't make money is only 1 person knows that they're a good person. So it's not enough having a god reputation. What you need is reach. You need a lot of people to be saying that. Unless you're on the first page of search results, you have built a billboard in the forest. No one is going to notice you. Only 3 out of 10 people on a website go to page 2 and beyond, so if you're not on page 1 you may be invisible. Guys, girls, that you so much.
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Tom Panos - Attracting Business & Marketing - Real Estate Training of OneAgencyGroup | |
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| Education | Upload TimePublished on 19 Aug 2013 |
