GOOD MORNING FROM ELITE AGENT

Today marks Enzo Ferrari's birthday, and if there's one thing the legendary carmaker taught us, it's that some things are worth their full asking price. While Ferrari famously never discounts their cars (seriously, try walking into a dealership asking for a 'great deal' on an F40), they've maintained their status as the ultimate luxury brand for over 75 years. Need some ideas for moving beyond the fee conversation in your business? We’ve gotchu… here.

Today’s read time: 5 minutes, 40 seconds.

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OPINION

Trust-Based Selling

Ever walked into a meeting knowing you were just there to make up the numbers? That's exactly how many real estate agents feel when they're the "fool" rather than the "favourite" in a listing presentation.

Former NFL linebacker turned elite real estate coach Steve Shull has cracked the code on winning listings and maintaining full commission rates (like Ferrari). His secret? It's not about value proposition—it's about trust.

After 32 years and over 60,000 hours of one-on-one coaching, Shull discovered something counterintuitive: When you're the "favourite," commission isn't an issue. When you're the "fool," no amount of value demonstration will win the listing.

Three ways you can become the favourite (and not the fool!)

1. Are you in a position to win?
Steve says, “Stop doing lengthy listing presentations without knowing if you're the favourite.”

Instead:

• Schedule a brief Zoom or phone call

• Listen for collaborative responses vs. information gathering

• Ask the crucial "Why me?" question to determine your status

• Exit gracefully if you determine you're the fool

2. Use tactical empathy to build instant trust
Transform your approach by:

• Removing yourself as a threat by emptying your "bucket" of needs

• Labeling what prospects are thinking and feeling

• Seeking the "that's right" response rather than "you're right."

• Keeping responsibility where it belongs instead of taking on client problems

3. Build trust through strategic questioning
Instead of leading with your opinion:

• Ask for their dream scenario first

• Following their nightmare scenario

• Get them to articulate what they really want

• Use the question "What happens if...?" to guide thinking

• Always let them speak first before sharing your perspective

The bottom line? Stop chasing deals and start building trust-based relationships. Remember: You can't overcome emotion with logic but can build trust through understanding.

The key takeaway isn't being the cheapest or most valuable option—it's becoming the most trusted choice in your market.

And… if you’d like to hear more from Steve Schull on your way to work - tune in here.

ICYMI, last week, we were motivated by the power of silence in real estate.

🚨ON OUR RADAR

The power and the pa…. politics
With an Aussie federal election on the horizon and considerable stakes at play, we’ve noted the newsroom has become increasingly more active of late. Today’s possible rate cut presents an opportunity to connect with your preferred mortgage broker to develop client education materials about refinancing. Changes to foreign buyer restrictions and insurance regulations will add complexity to market conditions (varying by state); so if you’re located in Sydney or Melbourne, it may be worth considering less WeChat and more local marketing options while monitoring new construction pipelines.

And in a pre-election move, the current government has confirmed no changes to negative gearing or capital gains tax. To quote Abbie Chatfield… it’s a lot.

SMART SNIPPETS

Hidden liability traps that could hurt PMs
If you're managing rental properties, you might be walking through a minefield of legal liability risks without knowing it. From damaged woodwork to unstable pool fencing, property managers have a legal duty of care to prevent foreseeable risks. With liability claims potentially reaching millions, it's important to identify and address these hazards before they become costly legal nightmares.*

It’s not about whether you use AI, But how
"This AI-written property description is so generic," you might think while reviewing another agent's listing, yet later that day, you're using ChatGPT to help craft your own marketing copy – yet to you, that feels completely different. This double standard isn't just about property descriptions; it's a pattern where we are now consistently rating our own AI-assisted work much higher than we rate others. Read more about this interesting bias and what to say to your clients

What agents can learn from Nedd Brockmann
Success in real estate often isn’t about grand gestures; it’s about consistency, grit, and going the extra mile (or 4,000 like Nedd Brockmann). The agents who win are the ones who show up, rain or shine, even if you have tenosynovitis in your ankle and maggots in your big toe (OK, exaggerating just a teensy bit…). But you can steal Nedd’s mindset and go further than you thought possible here.

CELEBRITY HOMES

Andy Cohen slashes $2M off luxe West Village pad
He has cut the price of his sprawling West Village duplex to $12M (AUD 18.35M) after six months on the market. Listed by Ryan Serhant, the 3,500 sq ft home boasts skyline views, wood-burning fireplaces, and designer interiors.

MOVERS + SHAKERS

Michelle Ralph appointed GM at Ray White Cottesloe
The 20-year industry veteran joins Jody Fewster's top-performing team and will bring her unique leadership skills to the high-profile Western suburbs agency. More here.

Success doesn’t rest on weekends! 
Get the latest on top agent and agency moves every Sunday with our weekly roundup in Movers & Shakers. Subscribe now.

SOUNDWAVES

Top tips for new real estate agents

Starting in real estate means mastering the art of marketing, networking, and time management while keeping your finances in check. Success comes from building strong client relationships and continuously learning from mentors and market trends, and this curated listen outlines 15 important lessons to help you stand out and nab those listings.

Dive straight into the listen below or the deeper dive here

Read the article from Indeed here

AGENTS ON SOCIAL

"We're so thankful you're our agent!" Oh, are you? Then maybe, just maybe, you should listen to my advice instead of forwarding me links to wildly overpriced homes that have been sitting on the market for six months. 🙉 🤔

Seen an Agent On Social we should include? Let us know here (email link)

Wishing you a productive day

Elite Agent is crewed by Mark Edwards, Catherine Nikas-Boulos, Rowan Crosby, Charmagne Arrubio 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.

Stories marked with * are sponsored, including 'Together With' and the weekday 'Movers & Shakers' sections. Interested in promoting your brand to Elite Agent’s audience? Learn more at eliteagent.com/advertise.

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