Key Takeaways from Real Estate Blue-print 11

MRI Software and Property Tree were proud to support the leading virtual real estate event held in Australia – Blue-print 11 with Josh Phegan.  Over 500 industry professionals attended an exceptional two days of inspiring and invaluable content and walked away with their own roadmap to success.

Josh Phegan is real estate industry’s leading speaker, trainer and coach.  His mission is to inspire agents to achieve their potential. Josh delivered a power packed agenda and below are a few key takeaways that you may find useful in planning your next 12 months;

Learn how to hit refresh

Be clear on your vision, set goals and be disciplined. Learn how to hit refresh and ask yourself why you do what you do. Create a one pager that clearly defines your purpose, values, mission, strengths to leverage, strengths to develop and always ask; will this get me where I want to go?

The greatest luxury of all is time, so be sure to have a routine and invest yourself as once a mind is expanded it can’t go back.

3 Guiding Principles for life:

  1. Health (is wealth) you can’t buy health but need to invest in EVERY day
  2. Family – what are you doing to connect?
  3. Work – purposely kept third in line.

When building and managing a high performing team think of the four C’s

  • Commitment – what is the goal?
  • Courage – what skills do we need?
  • Capability – what skills do we need?
  • Confidence – how it feels when we develop capacity

You don’t get pancakes

What are the set of rules you use to play the game?  Rules drive behaviour, decisions and everyday thinking. You may have the right ingredients but if you don’t have the right process then you don’t get pancakes! Structure provides freedom and you need a process to get really good at what you do and to create scalable outcomes.

What builds saleable value?

  • Stable management team
  • Diverse income streams
  • Recurring revenue as percentage of total revenue
  • Brand and brand extension
  • Risk mitigation
  • Geo spread
  • Market share
  • Financial performance over time
  • Systematic approach – what are core functions you need to get right?

Service – It’s either wow or not wow!

We now live in the experience economy that’s fast becoming the rating economy. Customer experience impacts everything and a clients journey with you company starts very early in a digital world where everyone looks online first.

Define how you want to serve customers, where to spend your time and have clear measurement so you can adjust quickly to ensure you can achieve the goals set.

Customer experience – would your clients pick you/your service again? Think in terms of:

  • Service Failure – you don’t meet needs of customer
  • Service Recovery – where you realise it and quickly adapt to meet customer needs
  • Service Delivery – Take service recovery moments and turn them into a standard and process

Are you in growth or profit mode for your PM business?

If your life depended on business success in the next 30days what the first thing you should do? Develop your operating system and make data-driven decisions – strategy, measurement, adjustment.  Artificial Intelligence, machine learning and market insights are helping to unlock new growth strategies and opportunities.

The PM – strategy

  1. Unlock value of landlord by identifying who lives locally and wants to grow
  2. Search landlords place of residences
  3. Call all of them
  4. Offer to value their home if local
  5. Ask if they have other properties
  6. Ask if they are keen to grow portfolio

 Measuring opportunity in your business

  • How many landlords do we have?
  • How many live locally?
  • How many appraisals did we book?
  • How many had additional properties?
  • How many are keen to purchase?

Josh’s top book recommendations

The themes shared above is only the surface of what was covered during the event but one thing is obvious Josh Phegan is an avid reader and below are just a few of his top recommended reads:

  • The Magic of Thinking Big. David Schwartz
  • On Form – Jim Loehr
  • Cut to the Chase – Stuart Devine
  • The Excellence Dividend – Tom Peters
  • Trillion Dollar coach – Bill Campbell
  • Shoe Dog – Phil Knight

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