Eleven Agents and $200 Million by 28 - Matt Spooner #81

Matt Spooner spent five years as a mortgage broker, kept referring his clients out to buyers agents, and decided to bring it in house. Four years later he is 28, the business runs eleven agents, and his figure is more than $200 million of property transacted in a year.

Matt Spooner is the managing director of Buyers Market, a buyers agency in Sydney's eastern suburbs. He went to a local school, came from what he calls a middle class family, and talks openly about impostor syndrome.

What you will learn:

- Why he calls every new lead the second it lands, even if it means walking out of a meeting

- The before, during and after model of a pitch, and why almost everybody puts their effort into the wrong one of the three

- The competitor he kept losing business to, and why he hired him instead of trying to beat him

- How a selling agent can use a buyers agent to unlock a vendor who cannot list until they know what they are buying

- What he says the three best agents he deals with have in common, and why it is not skill

Chapters

00:00 From mortgage broking to a buyers agency

03:23 Gamifying the year, and a 4:30 alarm

06:32 Two hours every morning that belong only to clients

09:33 The menu, and building up from a $1.2 million average purchase

12:35 How he prepares before he ever sits down with someone

15:45 Before, during and after, and why the before is the one that counts

18:54 A proposal in the inbox within five minutes, and a doorbell at 8pm

22:02 Recruiting the competitor he kept losing to

25:06 Knowing about a property months before anyone can see it

28:14 Using a buyers agent to unlock a vendor who cannot move

31:55 Five good clients instead of a hundred average ones

35:08 Going to the opening of an envelope

38:37 Impostor syndrome, and money arriving faster than you expect

42:22 The loneliness, and the people you can actually call

45:38 Relentless, follow up, and backing your team

48:41 Nobody is asking how old you are

Matt Spooner runs eleven agents on a system he built at 24. Property should work 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.