The cost of luck

Many agents believe that a bit of luck plays a role in our industry.

  • Someone responds to a random letterbox drop;
  • Someone calls after an appraisal without any follow-up contact;
  • Someone shows up to an open for inspection who just happens to want to sell their house next month.

We could debate long and hard about whether these scenarios are a matter of being in the right place at the right time.

One of the problems with these instances is that the vendor is more likely to call in multiple agents to the listing opportunity.

Our stats show that if you continue to go to these kind of listing appointments – no matter how good your dialogue – eventually you will be faced with a challenge to your commission.

Many agents fail to understand that a reliance on luck and chance in real estate does in fact come at a price.

One thought on “The cost of luck

  1. Mark,

    Interesting word luck, looking at my last two auctions I got really lucky when I met the owners in August 2011 then after around 60 contacts points in various ways listed the property the property to go to auction on 1 November 2014.

    The second property called the owner in July 2012, around 45 contact points later listed the property property for auction for 5 November 2015.

    Total VPA from these two listing around $15,500, commission was around 25% – 30% higher then the area average, one of the listings was uncontested.

    Then we got lucky again, one of my new agents who has been methodically working door to door through a very tightly held patch ( average price around $1,750,000) in our market found a listing opportunity a deceased estate which I am very confident he will list.

    So in summary I and my small team I will now try and get lucky again by making a few more phone calls, till around 11.30 am today.

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