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Today’s read time: 4 minutes, 52 seconds.

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SALES

Ben Collier on mastering “the game of inches” in real estate

Ben Collier, a top-performing real estate agent in Sydney's Eastern Suburbs, has seen the industry transform into what he calls a "game of inches."

In today’s competitive market achieving success requires small, consistent efforts that can collectively create a significant edge over rivals.

"You might be doing 5 per cent more here, 2 per cent more there," Mr Collier said, explaining how these incremental gains add up.

By focusing on doing just a little more in key areas, whether it’s follow-ups, marketing, or client engagement, agents can gain a significant edge over their competition.

His strategy revolves on asking the right questions and fostering long-term relationships, ensuring that when the time comes, he’ll be the one clients turn to when they’re ready to sell their home, even a decade later.

"It’s not about the long game; it’s the lifetime game," he explains. He recalls selling a client's first home for $375,000, and years later, managing the sale of their property for close to $30 million, illustrating his commitment to lifelong client relationships

Build lifetime relationships

We’ve all heard of the “long game”, but Mr Collier’s approach goes beyond that tired strategy. He prefers to play the "lifetime game."

He aims to be a part of his clients’ entire property journey, from their first home purchase to their last. This focus on long-term relationships means he not only secures repeat business but also gains referrals from satisfied clients, ensuring a steady pipeline of opportunities.

“There's a beautiful older couple who I met when I was 18. They said, ‘we always said, Ben, we'd get you to sell our house’. And I sold it for them 25 years later.”

Question time

Mr Collier believes that the key to his success is his ability to ask the right questions.

"He who asks the questions has the power," he said, emphasising the importance of understanding his client's true needs and motivations. By building trust and rapport through inquiry, he ensures that negotiations are smoother and more effective. Basically, ask the right questions, and ultimately, you’ll achieve the most favourable outcome. "It's about making sure both parties feel understood and that their needs are met," Mr Collier explains.

No short cuts to success

He also points out that advice is only effective if you fully embrace it and commit to work hard. There are no shortcuts to real estate success.

“No one's going to hand you success on a platter. They'll certainly give you advice. It's what you do with that advice, You know, you can go to as many seminars as you want, but if you don't implement the key things that you consider to be relevant, then go and do something else.”

Listen to the complete interview with Ben Collier on the Elevate Podcast

ICYMI, yesterday we covered some tips how to follow up people to get a response

SMART SNIPPETS

Home building approvals surge
New home building approvals hit a 14-month high in July 2024, with a 10.4 per cent increase. The surge was mainly driven by a 33.7 per cent jump in higher-density home approvals. Despite this positive trend, experts warn that significant challenges remain in meeting the government's 1.2 million new homes target over the next five years.

First-home buyers forced to adapt
Household deposits have climbed to a record $1.5 trillion in July 2024, Young home buyers are changing their approach to enter the market thanks to rising prices and high living cost. 40 per cent of first home buyers are now buying solo, up from 35 per cent in 2019. While the use of Government-backed schemes are also surging, with a 45 per cent increase over the past three years.

REIV urges focus on diverse housing and investment
The Real Estate Institute of Victoria (REIV) calls for a focus on diverse housing options and innovative investment strategies in response to the Victorian Government's "New Plan for Victoria." REIV also suggests reforms to property taxes and regulations to attract the necessary capital investment. REIV CEO Kelly Ryan said that these measures are crucial for shaping Victoria’s housing landscape for the future. “During this important period of transition and growth in Victoria, the role of suitable and sufficient housing cannot be understated.

National home value growth slows and regional gaps widen.
In August, national home values rose by 0.5%, marking the 19th consecutive month of growth. Before we break out the streamers, CoreLogic noted this growth is slowing, with the quarterly increase now at 1.3%, less than half of the 2.7% seen in the same period last year. Overall, Perth led with a 2.0% monthly increase, followed by Adelaide at 1.4% and Brisbane at 1.1%, while Melbourne, Canberra, and Hobart saw declines. CoreLogic’s Head of Research, Eliza Owen said that with rising interest rates and cost-of-living pressures, "housing values cannot keep rising at the same pace in the mid-sized capitals... when affordability is becoming increasingly stretched."

SOUND WAVES

Fast food for fast lives.

We’re all guilty of eating on the run, but for real estate agents, it’s practically a way of life. The fast-paced nature of the job, rushing from one property showing to the next, meeting clients at odd hours, and juggling paperwork in between, leaves little time for healthy meals.

Today’s curated listen is all about how fast food can affect your body.

Read the original article from Cleveland Clinic - healthessentials

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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