Principals' Workshop: Review of 2008 highlights

A fantastic three days was recently spent on Hayman Island picking up valuable business insights from some industry greats, refreshing our thinking and considering different ways of approaching business fundamentals such as recruitment, retention, branding and marketing.

The speakers put so much effort it into their presentations and really opened up and let people into the real issues they face day to day.  A big plus was that they all mixed with the delegates outside of the sessions creating a relaxed social environment of sharing and exchange of ideas and opinions on the market in which we all operate. The feedback from participants has been so positive with some even describing the depth of learning and sharing as "life-changing".

To kick off the workshop, MC Ross Smith masterfully extracted from the audience their key expectations and desired outcomes.  The list was long and included developing a strong organisational culture and values, coaching teams and individuals, benchmarking profitability, KPIs and best practise, financial management, succession planning and the always important issues of recruiting and keeping staff, marketing and effectively managing a brand.

The nightly reWIND newsletters summarising the key points of each session can be found in the Resources section of the TRET website.  The common thread through many of the presentations was the absolute importance of FOCUS and getting back to basics.  Other key points were around reducing distractions in the business by focusing solely on core products and core aspects of the business and not surprisingly valuing your people.

The audience truly appreciated the candid and open sharing of information and numbers from the likes of Barry Plant and Richard Jellis who despite their combined wealth of experience examined the pitfalls and opportunities of their different business models.

A key take home from many of the speakers who have experienced the ups and downs of the real estate market was that the market is never tougher or more challenging, just different.  According to John McGrath, hope is not a strategy and there is always an opportunity to be found, particularly when everyone else is talking doom and gloom, that your competition isn't capitalising on.  Much of the conference content was devoted to providing principals with the tools to identify and work these opportunities.

Interestingly the topics on recruitment and new media focused clearly on the part that Gen Yers will play both as employees and as future property purchasers and the importance of adjusting your thinking as an employer and your marketing channels as a business to cater for this category. Julia Ross quoted the statistic that by 2011 38% of the workforce will be made up by Gen Yers and Shaun Di Gregorio's session on how to deliver your message with new media and the associated stats from realestate.com.au's research shows that we all have to review and get smarter about how we plan to tailor information for tomorrow's tech savvy market.  Around this topic the eminently knowledgeable Eric Beecher gave the print comfortable audience a wakeup call with his data on how consumer media habits are changing and how the internet has reinvented the value of information.

In Mark Earle's enlightening presentation on managing and attracting high achievers, brand image came up as an important topic not just in terms of marketing but in attracting and retaining good people.  Many topics focused on the power of brand image in gaining market share and ensuring a positive return on investment. Peter Knight from the UK's hands-on and very practical and straight-forward presentation on the fundamentals of developing an effective marketing plan was embraced by the audience who loved the how-to aspect of his message. Whilst Peter's presentation focused on the how, Ross Smith's presentation took branding and marketing to a deeper level link brand success directly to leadership and left many of the audience thinking about how they as leaders impact the market response to their brand.

Fletcher's Bradley Brown, with his incredible background in change management across a number of different industries opened the eyes of many to the true importance of the human resource of their businesses commenting that now is the perfect time to step up in terms of developing sales teams.  As with many of the other presenters the power of communication revealed itself with many believing there can never be too much communication within an organisation from the top down.  Bradley was very strong on his belief that businesses end up with the people they have because those are the people they deserve and that the success of a business is determined by the focus given to the team.

Some of the key elements mentioned above - focus on core business, over-communication, positivity from the top, monitoring - emerged in the impromptu day one panel session on weathering a tough market (unfortunately Gary Gannon was unable to make his session).

Now was also seen as a time to put renewed energy and effort into property management and Fiona Blayney presented a bonus session based on her new book Property Management Bootcamp.  Her thought-provoking session highlighted how your rent roll can become your retirement fund and how successfully growing it requires structural foundations to be put in place.

The workshop closed with the extraordinarily funny and humble Nigel Marsh, new chief executive and chairman of Y&R Brands and author of best sellers Fat Forty & Fired and Observations of a Very Short Man, a hard slot to fill with everyone eager to enjoy the sun and sand. Nigel shared his lessons on life having opted out of the corporate world for a year to reassess his values and passions and shared his insights on leadership and business having run several highly successful international media and communication companies.  As one delegate put in on his feedback sheet, "A refreshing, frank, honest and entertaining presentation given at the graveyard shift of a first class workshop.  This presentation, coincidentally I'm sure, continues the frank and honest theme of the conference!"

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 reWIND Day 1

 reWIND Day 2

 reWIND Day 3

Training: Look inside the box to find those who think outside of it!

Test drive TRET's latest product - an 8 DVD series featuring over 12 hours of in-depth content covering 8 key areas of real estate presented by 19 industry experts from across Australia. Complete with review points and summaries it is the ideal tool for sales meetings and individual learning.

Need to see the real...thing before making a decision? TRET guarantees you'll love this training resource for both new and experienced agents and team members. So you can see how you can best use the review points and content summaries TRET is offering you the chance to sample a whole section of content before making the decision to purchase the set.  You will receive a randomly selected disc from the series.  Each disc covers a specific area of real estate and includes prospecting, listing, vendor management, buyer management, branding, business growth, managing your team and getting to #1.

And the first 100 people to purchase the series will receive a bonus copy of US super trainer Dirk Zeller's book The Champion Real Estate Agent containing over 320 pages of strategies, tips and systems.

Please complete and return the downloadable order form today for your sample disc or complete series.

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 Download product order form

Resources: Download Principals' Workshop speaker presentations & summaries

A selection of speaker presentations and the overnight newsletters summarising the best of the day's sessions are now posted on the TRET website.  Held annually in September possible destinations for 2009 include Bali and Fiji - make a note to bring along the family! 

 Download speaker presentations

 Download daily reWIND summaries

HOT OFFER! AREC 09 early bird rates

Mark Sunday 31 May - Tuesday 2 June 2009 in your diary now for the most important real estate event of the coming year - AREC09. 

Sunday's joint program of fantastic keynotes leads to dedicated streams on Monday for sales and property management. Tuesday's program is a exclusive to principals and sales managers.  Early bird rates save you $195 per person. 

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 Download AREC 09 registration form

Leadership: Identity Management - Who are you? 

In today's world, leadership is all about perception. As a leader, are you in control of the impression you make on people? Do people ‘get' what you are about and what you stand for?  Do you have a total awareness of who you are inside and out, and the ability to take control of the perception you want people to have of you?

Oksana Koriakova, founder of corporate merchandise and promotional company Impero Group, penned a great chapter in The Thought Leaders Ideas Book: Vol 1 titled Identity Management that looks at this interesting topic in considerable depth.

According to Oksana the perception puzzle is made up of:

• What you project - the introductory level where you are ‘judged' by your image, your profession and the associations you keep. It's the external manifestation of you as a leader.
• How people get to experience you - how they perceive your actions and their interactions with you and impressions of your behaviour. This is where sometimes first impressions change!
• Who you are - your values, passions and vision are the driving force behind everything you do. Understanding how these affect your actions and your personality will define the other layers of perception.

For the full chapter please click on the PDF download.

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 Identity Management: Oksana Koriakova

Property Management: The power of your rent roll  

When it comes to generating a consistent cash flow, real estate business owners should never underestimate the value of property management and the power of their rent roll.

Training specialist, Ian Grace of IGM Global, estimates that property management will account for over one third of agency revenue by 2010. He says, "The average Australian agency has around 425 properties under management. These properties give a reliable income stream that insulates the business against market cycles, while maintaining a regular and profitable turnover."

Ian has teamed up with national education provider, Kaplan Professional, introducing a new program to help agents double their rent roll. Below are some practical tips to help you get started:

1: Marketing and Publicity: Start to market your property management services through a variety of channels such as direct mail/email, testimonials and publicity. Tailor these marketing channels to your target audience, including:

• existing landlords
• existing tenants (who have the potential to become landlords)
• all existing buyers and potential buyers who connect with the sales arm of your business
• investment property owners who don't currently use your property management services
• property owners, buyers and tenants in the community at large

2: Focus on growing your database: You can do this by:

• introducing yourself/your property management service to all home buyers and potential home buyers
• holding home investment seminars and landlord information sessions inviting the wider community not just existing landlords
• inviting existing landlords to a ‘bring a friend' session that showcases your property management service

3: Open communication: Always have systems in place that ensure regular and meaningful communication with landlords and tenants. Good open communication can nip complaints in the bud and turn complains into praise.

4: Offer value-added services to landlords: eg, home maintenance and sales advice to assist in growing their investment portfolio

5: Reward landlords and tenants: Through partner programs with local businesses.

6: Developing advertisements that ‘sell': Effective ads for rental properties need to attract the best tenants not just the available ones. Your message should paint a picture that is welcoming, by selling not just the features but the lifestyle benefits that will appeal to prospective tenants.

7: Build an experienced property management team: Your team needs to be able to:

• § deliver on projections and strive to meet them
• § dazzle the real estate business and customers alike with solutions
• § adherence to consistent standards in policies, procedures and service to ensure all team members benefit from services
• § stand out, yet be professional, helpful and positive
• § celebrate and reward initiatives

For more details on training visit the real estate section on Kaplan Professional's website: www.kaplanprofessional.edu.au/Real_Estate

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 Superannuation: How to improve yours.

Most of us don't give our superannuation a lot of thought - until, that is, we're getting close to retirement. But planning ahead can have a great impact on one of life's biggest investments, and there are five websites that can go a long way in improving your super.

• 1 UnclaimedSuper.com.au

The more superannuation accounts you have, the more fees you are paying. The Unclaimed Super website will help you find the accounts you forgot you even had. Roll them into one account, and reap the benefits.

• 2 Ato.gov.au/super

The government is giving away money - and you could be eligible to receive it. At the Australian Tax Office website you can find out if you are eligible for the Super Co-contribution. By arranging for voluntary contributions or salary sacrifice through your employer, the government will contribute up to $1500 per year into your super account.

The ATO website also has a tool for finding lost super, SuperSeeker. Just by filling out a few details, they can point you to even more money that you thought was MIA, and give you the contact details of the fund.

• 3 Fido.asic.gov.au

All of your contributions are starting to add up, but how much will you have at retirement, and how long will it last you? The Fido website has an invaluable tool to help you answer these questions, and you can even include your partner's super in the calculation.

Every super fund charges different fees, so this website also includes a fee calculator to help compare your options.

• 4 Superratings.com.au

The Super Ratings website judges various super funds' past performances, and rates them in an easy to understand format. This can help you decide where you want your money invested.

• 5 Your Superannuation Fund's website

One of the best websites you can use is often your super fund's website. With most funds, you can log in, check your balance, and even change your investment strategies to maximise your returns.

Take the time to investigate your options, and the differences will add up. For more information, contact REI Super on 1300 13 44 33 or email admin@reisuper.com.au

Disclaimer

This information is a summary only and is based on information received from sources within the market which is believed to be reliable. However, no warranty or guarantee is provided as to its accuracy, reliability or completeness. No part of this transmission is to be constructed as a solicitation to buy or sell any security and investors are encouraged to seek professional assistance in order to avoid making decisions which are not appropriate to their needs, objectives and circumstances.

REI Superannuation Fund Pty Ltd  ABN  68 056 044 770 AFSL 240569.  RSE L 0000314 REI Super ABN 76 641 658 449 RSE R1000412

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