How to succeed in the real estate game

Category: Case Studies

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In this My Business Q&A, we grill Adrian Wilson of Sydney-based Wilson Property Agents to find out the ins and outs of how he has rapidly built up a respected and award-winning real estate agency business.

My Business: Best business decision you’ve ever made?
Adrian Wilson:
Planning ahead and outlining a clear business strategy. This allowed me to be able to make important strategy decisions knowing what lies ahead. Without a clear focus we would not have been able to fuel the growth we have achieved over the past two years.

MB: How do you delight customers?
We pride ourselves on helping our people find their dream home and ensure a smooth relocation. We also provide our clients with sound, credible advice so they can make informed investment decisions to create personal wealth.

MB: Share your number one sales technique with us.
I actual have two that go hand in hand – attention to detail and proactive communication. In a service industry they are both crucial to ensure you are executing with excellence.

MB: What’s your secret team-building tactic?
Flexible work hours, time off for personal things and putting on a well-deserved team social gathering once per month. We all work hard, so it’s important to me that my team are recognised for the great job they do. Also, we all have a life, so I like my team to know that they have the ability to manage their time and not miss out on personal things, as well as maintain a strong work ethic.

MB: Favourite piece of business technology? Why?
Our touchscreen window display as it allows us to connect with prospective buyers and tenants 24/7, even after hours. You can scroll through properties, click to obtain more details, place the property on a map and then email a shortlist of properties to your inbox. Customers can also make an inquiry to the office for an agent to call them back.

MB: Best tip for managing people?
Always consider their position or viewpoint as well, and be prepared to listen and encourage your team to develop their skills through training and coaching.

MB: Who do you most admire? Why?
My business coach. He is super astute, insightful, challenges me to think differently and has an amazing wealth of knowledge and experiences to draw from and discuss.

MB: What’s more important in business: passion or preparation? Why?
Equal amounts of both! If you don’t have a passion for what you do, then you won’t be successful, and without preparation you can get yourself in a lot of trouble, whether it be financial or just quality of life due to work/life balance issues.

MB: If someone gave you $100,000 and said, “Invest this in your business by the end of the week – or lose it” what would you do?
Spend the money on more training and coaching sessions for the team and use what’s left over to conduct some targeted advertising research, upgrade our website and take the team to lunch.

MB: Generation Y: are they as demanding as everyone says?
Yes. It’s important to adapt your management style to the differing generation traits, whether it be the baby boomers of the Gen Y’s – otherwise you can expect a high turnover of staff.

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