💡 Matt Lancashire's mindset shift that changed everything

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Today’s read time: 3 minutes, 53 seconds.

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DIGITAL COVER

Matt Lancashire: A New Perspective

A year ago, Matt Lancashire, one of Brisbane’s leading real estate agents, nearly quit his career. Despite leading a team of 160 staff across five Ray White offices and closing almost $250 million in sales, he was worn down by constant scrutiny and difficult clients. At his breaking point, Mr Lancashire sought the help of a health professional who shifted his perspective by encouraging him to view people's difficult behaviour with empathy rather than frustration. This advice revitalised Mr Lancashire’s approach, helping him reconnect with his passion for real estate and now identifies “emotional intelligence” as a key to success.

It seems to have done the trick, with Mr Lancashire winning several major gongs at Ray White Queensland’s 2023-24 annual awards last week including, including the coveted No. 1 principal at Ray White Queensland award.

Emotional intelligence

Success in real estate isn’t just about sales skills; it’s about managing people’s emotions.

Mr Lancashire said that after almost two decades in real estate, it was difficult to stay positive when clients were treating agents poorly. It wasn’t until he spoke to a psychologist that he realised people's behaviour often had little to do with him personally or was specific to the industry.

“She said to me, look at priests, look at lawyers, look at car sales people. It’s not real estate, it’s people.”

This shift in mindset changed his approach to the job, making it more sustainable and fulfilling. He now believes that emotional intelligence is the most underrated skill in the industry.

“Being able to communicate with people, being able to learn when to shut up, to stop talking and start listening is incredibly important,” he said, noting that a large part of his business involves managing sensitive situations, such as divorce.

Resilience in the face of adversity

His journey in real estate has been marked by significant challenges, from taking nine months to make his first sale to dealing with $60,000 in debt. “I was a shocking agent at first,” Mr Lancashire admits, but with no fallback plan, he pushed forward. He recalls a pivotal moment when he borrowed money for a new suit and flew to Sydney to meet top agents, including the legendary James Dack, who gave him advice that changed his outlook.

“Be big in print, list auctions, run a structured business, and work hard.”

Structured work is essential 

Mr Lancashire took his mentors’ advice on board and developed a meticulous daily routine, structured his days with two dedicated prospecting sessions and personally knocked on the doors of nearly 2,000 homes in his area to build relationships. He said this approach was essential in driving his career forward and differentiating himself from others in the industry.

ICYMI, yesterday we celebrated Elite Agent’s birthday with a special message from Samantha McLean

SMART SNIPPETS

Auction market shows signs of cooling
Australia's auction market is slowing down, with the national clearance rate dropping to 66.2 per cent from 71.4 per cent last year. While auction numbers are up 15 per cent, active bidders have decreased to 2.7 per auction. However, it's not all doom and gloom - Perth and Brisbane are bucking the trend with increased bidding activity and clearance rates.

REINSW names it’s best and brightest
The REINSW Awards for Excellence have shone a light on the industries best. Ben Pike from Pulse Property Agents won Residential Salesperson of the Year. While the prestigious Woodrow Weight Award went to Ewan Morton for his outstanding contribution to real estate.

Housing caught in a Catch-22
Australia's housing market is grappling with rising mortgage arrears alongside increasing property prices and rents. According to the Australian Prudential Regulation Authority (APRA), the value of mortgages in arrears for 90 days or more has reached $23.37 billion. Meanwhile, the Real Estate Institute of Australia (REIA) reports that national median house prices rose 1.5% in the June 2024 quarter, reaching $1,049,136.

SOUND WAVES

“Sooner or later, all businesses, even the most successful, run out of room to grow.” Harvard Business Review

Today’s curated listen looks at why every business needs a reinvention mindset.

Read the original article from Launch here

AGENTS ON SOCIAL

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Wishing you a productive day

Elite Agent is crewed by Mark Edwards, Catherine Nikas-Boulos, Rowan Crosby, and Samantha McLean. We aim to uplift the real estate industry by delivering forward-thinking, hype-free news and education that fosters knowledge and fuels ambition.

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