How to Become a Successful Real Estate Agent - Bill Malouf #145

Bill Malouf spent 37 years building a name at one brand before moving it, and he says the worst thing an agent can do at a listing presentation is walk in with a book about their own company. His alternative takes 25 to 30 minutes and has nothing to do with market share.

Bill Malouf has sold Sydney prestige property for more than 30 years and is now at Highland Double Bay, alongside Sam Schuman. Recorded in a Sydney penthouse.

What you will learn:

- What he does in the first 25 minutes of a listing presentation instead of pitching

- How he handled a Saturday with nobody through, and why he rang the vendor 15 minutes later

- Why he says over quoting should cost an agent their licence, and how Fair Trading now checks

- The candle analogy he uses on his own sales team, and what it is really about

- The Point Piper sale that started at over 60 million and settled at 37

Chapters

00:00 Pick something you would still want to do in 40 years

00:33 Turning up with a book about your own company

03:34 Inside the apartment, and what makes a property unrepeatable

06:52 Knowing what you are good at, and what you are not

10:02 Partnership against franchise, and what an in-house back end changes

14:12 Is the franchise model dead

17:47 Property management as the engine, not the afterthought

20:02 Open book, cross selling, and the fastest way to kill a culture

22:29 Does the brand make the agent, or the agent make the brand

25:02 Coming out from under the radar after 37 years

28:15 Giving time to a 23 year old, and why it matters

30:05 The rot starts at the top

31:51 From 600,000 to 100 million in one office

34:52 Over quoting, and why he thinks it should cost you your licence

38:03 Pricing a property honestly when the vendor wants more

40:01 The Saturday nobody came through, and the phone call he made anyway

44:30 Who actually buys at this level, and what they are buying

45:04 Keeping the candle lit, and what COVID exposed

48:55 The vendor who said no auction, and the only team that listened

Bill Malouf wins on the vendor's numbers, not his own brochure. Property should be bought the same way.

Most properties only make money if the market does. The ones that pay for themselves from the day you settle are bought differently, and it comes down to four points.

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General information only. Not financial, tax, legal or credit advice. Bothsides is not a mortgage broker or credit provider.