30 Jul Does the market soften or do we soften in the market?
Popular author and real estate coach Rik Rushton demonstrates how mindset is what matters in a changing market. Today he challenges your durability.
Topic – Mindset for a changing market
Mentor – Rik Rushton
- The work we need to do to harden up
- Separate yourself from competitors
- The inches between your right and left ear
Marketing Monday – Josh Phegan does not like scripts and dialogue but says you should use them. Here is why.
Kevin Turner: My guest mentor this week is a man we’ve had on the show, but he always brings a level of really great, clear thinking to the shows. I’m talking about Rik Rushton. Good morning, Rik.
Rik Rushton: Good morning Sir Kevin.
Kevin Turner: And it’s lovely to have you back in the show. We got a bit of a potpourri to talk through with you this week. I asked Rik to come up with some topics that he felt, with his work in the marketplace, needed a little bit of topping up or a bit of discussion. The first one you’ve given us, which I love the title, does the market soften or do we soften in the market? And I guess it’s applicable in all markets, Rik, isn’t it really?
Rik Rushton: It is, although clearly, Kevin, we’re talking the east coast of Australia has gone through a massive shift over the last sort of six to twelve months, but if we’re talking to our friends across on the west coast, they say, “What are you talking about? That’s just the normal programming for us.” They’ve had that sort of market for probably the better part of six or seven years, but right across any market there will be ebbs and flows. It’s the nature of the market, so we’ve had a very strong market right across Australasia for probably the better part of two or three years, but there is now some shifts there, and the number one thing I’m hearing across the market is, “Oh, the market’s softening, the market’s softening, the market’s softening.”
Rik Rushton: My question is, does the market soften or do we as agents soften in the market, Kevin? And so, it’s gone from being a bit like we’re maitre d’s at a restaurant, taking names and numbers that open for inspections. Giving them the menu, which is the auction contract, come back in 21 days, have your head up, and then you’ve got it and that we think that makes us a real estate agent where we now know that in a softening market we have to get up a little bit earlier, stay a little bit later, have a lot more conversations with people, follow up aggressively, leave one or two messages, and make that maybe five or six messages before we contact back to the client again. So there’s a lot of work we have to do to harden up in this market and I think that’s the message that all of our listeners need to be aware of today.
Kevin Turner: And so when the market softens, we’ve got to harden up. That’s the message. Is that what you’re seeing key operators doing? You know, prepare to put in that little bit of extra effort, Rik?
Rik Rushton: No. No, that Kevin, they’re looking to separate themselves now from their competitors. Not just for the balance of 2018, but for the next two to three years. They see this as a great opportunity to put some space between them and their competitors through how to work. So what we all know is most real estate agents in 2018, through great programmes like yours and all the free downloads they can get off your site, can upscale pretty quickly. So talent is easy to find in 2018, but hard work beats talent when talent doesn’t want to work hard and I think that’s the real key message this morning.
Kevin Turner: It’s about keeping the motivation up, isn’t it? I mean getting that spark that’s originally what REUNCUT was all about which just to give you that spark, not to give you the answer because the answer is inside all of us, Rik, isn’t it?
Rik Rushton: It is. And I think it’s also as such in the outer markets, what we’re doing inside the six inches between our right ear and our left ear. And you’re absolutely right, mate, this programme was set up way before Red Bull was very popular or the drink or even double espressos. Yeah. This was your daily inspiration to get a bit of motivation to get you going throughout that long-term challenge of the day, and especially in these sort of markets you need this type of information regularly.
Kevin Turner: Excellent stuff, Rik Rushton. Tomorrow we can talk about timing the market or time in the market. So Rik, great talking to you again, my friend and we’ll look forward to catching up with you tomorrow. If you want to talk to Rik or get a lot more inspiration like what we’re talking about this morning, Go to his website, RikRushton.com. And that is spelled R-I-K R-U-S-H-T-O-N. You could even put R-I-C-K because you’re clever enough to get both in there, Rik, I think, aren’t you?
Rik Rushton: Well, I wasn’t always so clever, mate, but my tech guys were, so that’s the way it rolls in my headspace.
Kevin Turner: Well, the way I look at it, mate, you’re the clever one because you got the clever people on board. That’s another topic, but you know, it is amazing how many people believe that it’s all about them and they don’t want to build their team of smart people around them. If you’re the smartest man in the room, you’ve got a big problem.
Rik Rushton: Well, I think I’ve got a really good pick for an awesome side of them. If I’m the smartest person in this room, I’m in the wrong room.
Kevin Turner: Yeah, that’s right. Yeah. Work your business, get on the shoulders of some great people, and that’s exactly what I do in this show. And one of the shoulders were on this week is Rik Rushton. Good on you, Rik. Talk to you tomorrow morning, mate.
Rik Rushton: Thanks Kevin.