GUIDING PRINCIPLES by liaoqinmei

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    Setting the level                               Promote your success                          knows it. “I think we’re in an industry that
                                                                                                  is just exceptional because there’s no
One of the reasons LJ Hooker Double              Another tool he uses is to submit editorial to
                                                                                                  limitations on what you can earn,” he said,
Bay performs so well is Mr Malouf’s              local media and promote the sales person
                                                                                                  but, equally, he keeps himself grounded.
commitment to going beyond                       making the sale, not just the office. “Part of
expectations. “If your office is not out there   my job is to promote the individuals who         “I work on properties $8 million and over,
creating sales and, more importantly,            work for me and it’s about getting public        but if a client of mine asks me to do a
trying to create records for the vendors         recognition. We are the leading agency           two-bedroom or a three-bedroom unit, I
that you represent, then you have no             in excess of $10 million sales and it’s that     sell property for a living and I would never
public perception,” he said, explaining that     sales history and that reputation that brings    get caught up in the area where that’s
this is what happens when the phones             people to this office. They want somebody        too small for me to handle – that’s the
start to ring and sales people pick up           that has performed at this level and has the     biggest mistake you can make.”
properties across the entire market.             client base at this level.”                      Each presentation kit that goes out
“I love to win and my job is not making          There are five sales people at                   from the office includes a history of the
a sale for the sake of making a sale –           LJ Hooker Double Bay who each handle             office sales and sales achievements. “I
anybody can do that. My job is to create a       3-5 properties a month. Mr Malouf has            think that it’s important to promote, but
level that nobody else could have created        downsized his sales to 4-5 per month,            you’ve also got to be very careful that
for that vendor. The reason they engage          from 6-10. With a flat 2.2 per cent              you don’t go out there making brash
me is because I’m going to work to the nth       commission of the gross selling price,           statements,” he explained and said the
degree on their behalf to create levels that     and with his sales starting from $8 million,     public often thought of real estate agents
other agents weren’t capable of doing.”          Mr Malouf’s income is enviable – and he          as a “necessary evil”, and suggested it
                                                                                                  was time for agents to modify the way
                                                                                                  they thought and operated to change this
                                                                                                  perception. “They don’t want to use us,
GuidinG PrinciPLeS                                                                                but they have to because we specialise in
Mr Malouf chooses each sales person based on four basic                                           the sale of property.”
principles that they must have:
                                                                                                     Service is everything
    1. Product knowlEdgE                                                                          After more than 20 years in the job, Mr
    2. crEdIbIlIty                                                                                Malouf’s passion for selling has not
    3. HonEsty                                                                                    waned. “I love what I do. Until the day I
    4. AccEssIbIlIty                                                                              decide I just don’t like selling I’m going to
                                                                                                  stay selling because I thoroughly enjoy it.”
He cites accessibility as the single most important sales factor because his clients,
                                                                                                  And he looks for people who feel the same
who are company directors, senior executives or business owners, drive down the
                                                                                                  to join his team. His basic requirements
street on their way home from work at 6pm or 7pm and see properties they are
                                                                                                  are: motivated individuals, people with
interested in seeing so they call the agent on the signboard then and there – often
                                                                                                  debt because it increases performance
receiving a recorded message. “My phone stays on until 11.30pm at night, seven
                                                                                                  and somebody who shares his overall
days a week and I think that accessibility has helped me enormously.”
                                                                                                  principles. “They must be looking to build
When surrounded by properties for sale day in, day out, it is easy for agents to                  long-term relationships and build referral,
forget their clients may only sell two or three times in their life. An agent is there to         because it’s not on the money a sales
guide vendors, advise them of the best marketing strategy for their property and                  person generates, but on the referral
listen to their reasons for selling. “Are they upgrading, are they downgrading, are               business that they actually have.”
they finding it tough to pay their mortgage? These are the questions that a lot of
                                                                                                  To explain this point further Mr Malouf uses
agents don’t ask,” Mr Malouf said, but the answers made all the difference.
                                                                                                  a restaurant analogy. If he goes to a good
                                                                                                  restaurant and received good food and

8          Hot Topics Magazine Issue 03

								
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