Attracting new business is the life blood for any business, in particular for real estate agents to ensure your agency stays profitable.
Sometimes this might be hard to accomplish and ideas on how to jump start your business can be tough to come by.
Luckily enough we have spoken to a number of the top selling agents from last financial year here in South Australia, and they have each given us their top three tips for attracting new business, while also telling us how they spend their working week.
About Andrew Downing – City Realty
Andrew has been selling in the Adelaide CBD for over 12 years, and has established himself as a successful sales agent specialising in the city. We sat down with Andrew to find out more about him and his take on city real estate sales.
What are your top three tips for attracting new business?
- Be the expert in your farm area. Really work your listings and promote your successes. Constantly grow and update your data bases.
- Relationships are key. Build relationships with potential buyers, sellers, and clients – not just rapport.
- Be genuine with everyone you meet.
What does your usual working week look like?
My weeks aren’t particularly structured, but I have an early morning ride before getting into the office at 8am most mornings. Monday is follow ups, booking appraisals, and at lunchtime I do opens and private inspections.
Sales meetings are on Tuesdays, and I check my emails first thing every morning, to try to avoid checking them throughout the day.
Every Wednesday, a marketing meeting for the whole team and open inspections.
There’s no set prospecting day, as I’m constantly prospecting.
Saturday is the main inspection day and I can usually fit 6 in.
After hours I’ll book appraisals for 4.30pm to 6.30pm, and I try not to work on Sundays unless I have to.
I try to stick to the CBD as much as possible, and don’t market myself for out of area listings.
We spoke with Andrew about the market in the city generally, and he had lots of interesting things to say.
On the “Apartment Glut” in Adelaide:
“A lot of people that I meet comment on how there are too many apartments in the city, but I disagree. Short term, there might be some pain with oversupply for sale and rent, but overall I think the council and government are on the right track with encouraging more people to live in the City and supplying the infrastructure around it. There seems to be an increased level of buzz around the city now. The increased apartment build has definitely had a positive knock on effect with prices for properties with land in the CBD (i.e., townhouses, cottages).”
People are now on waiting lists to move into the South/west end of the city, whereas 10 years ago not many people were keen to live there.
On luxury real estate in town:
Adelaide’s penthouse market is anything from $1.3m or above, and can be a lot slower due to perception of value for money in comparison to large suburban houses. But there’s definitely an increase in down sizers looking at the CBD, with people looking to buy into the lifestyle.
On activity in the city:
The Adelaide Oval has been the catalyst for so much activity within the city. Especially the development of laneways, Topham Mall, river banks, and North Terrace.
I think it’s had a positive influence on the market overall. There are issues with tenants sub-letting to Airbnb, but generally the property management side of the industry hasn’t been losing many managements over it.