Power base of top agents
A REAL estate agent who did not pass his HSC told a room full of industry colleagues they had a licence to print money.
John McGrath, the chief of McGrath Estate agents which sold $5.7 billion in residential property in Sydney in the financial year ending 2011, told them they could earn more than barristers and neurosurgeons combined.
Mr McGrath, one of 12 successful real estate agents at Real 2012 in Brisbane on Friday, said he was sick of hearing agents whining and focusing on the negativity of the current market.
He said the ability to sell properties had nothing to do with Reserve Bank Governor Glenn Stevens or their real estate competitors.
But Mr McGrath did say he believed the market was "on the improve" with his employee coach noting a change in the attitude of his "power base of top agents"."
He coaches a lot of the top 100 in the state and he said the phone calls on a quarterly basis have been depressing, jumping-off-building sort of stuff," he said.
"He said he rang around ... and I've never heard them as upbeat in the past six years as I have now.
"People are saying not only have prices stabilised with buyers starting to get interested but prices are starting to go up and some quite rapidly.
"I'm telling you now because I think that if you don't get the buyers you're dealing with now in the right properties in the next three to six to nine months they're going to miss the boat.
"Because when the market moves, especially on the Gold Coast and even the Sunshine Coast ... you'll find those markets (will) rapidly move up in value. Brisbane's the same and Sydney's the same."
Mr McGrath said Brisbane, where the APN-sponsored event was held, was one of the top 10 real estate cities in the world at the moment.
He told agents they should check out Las Vegas, Miami, outside London and parts of Europe if they wanted to see what a "tough market" was.
Mr McGrath said many people felt the industry "felt better, easier" a few years ago but he believed "every single one of your listings on your listing books is saleable this afternoon within a few hours" if they did two things.
"Have a price alliance so the vendor understands what the current market is prepared to offer for the property," he said.
"Then you need to develop marketing strategies that attract every single buyer.
"Even the best property in the world in the best boom area in the world will not sell unless it's aligned with what the market is prepared to pay for it.
"And yet the worst property in the worst market in the worst city in the world will sell at any given moment if the price is right."
Mr McGrath, in one of many pep talks for the day, said the key to keeping residential properties turning over was eliminating excuses and making the vendor understand the market they were dealing with.
Capitalising on the Olympics playing out in London, he asked "How much do you get paid if you're the silver medal in a listing".
Real 2012 co-founder Peter Ford, from Complete Property Training, said there were about 350 real estate agents from every Australian state and from New Zealand.
"We wanted to create a conference that everyone could afford to attend but couldn't afford to miss it," he said.
Key Facts: John McGrath
If you don't like change you'll like extinction even less. I started the company in my lounge room and really only wanted one small office (there is now 46). I followed the Steven Bradbury principal of success - show up and hope everyone else falls over.