Tom Panos and John McGrath, without Troy Malcolm today, but let me tell you he'll be back with us next week. It's just the way the timing works and I'm I'm away on On leave, so I'm in a different time zone. John, today's session is going to be part two of arach 2023. We covered part one, uh, last week. There's still a big buzz, i I still like we're. We're now like we're one or two weeks post-arach. I still have people buzzing about the results they're getting from the information that they got. We've got John. We've got real estate gym members that are telling us they have got five and ten listings, they're getting presentations and, yeah it obviously execution. Obviously going to Eric is important, but execution of Eric is also very Yeah, look, i think so.
John McGrath:Yeah, that's good, while we're sort of going, last weekend and this week, a bit more over it. because, number one, the number of people that I've asked to send me their notes and they had stuff I didn't have was really important. So sometimes, just like you go to a movie twice, right, you gotta, you're up at the first time, you go back a second time, you pick up little bits that you didn't see. So I think you're right that I'm getting feedback about the practical application of the content from Eric. This year was a new level And so thanks for all the speakers. You know, not just the keynote, it's our Aussie and Feewee agents did ourselves proud. They didn't take a backseat 21. So I just thought, tommy, you know, and I'm happy because I know that you're on Vacation, so very kind of you to actually free up time for our listeners. But I've got a whole heap of Stuff here, some from speakers I went through a bit last week, but I just like to go a bit deeper And I might just jump into it and then, you know, you just please chime in as you sort of hear or see or hear things that Made a difference to you. But look, every speaker was Sensational.
John McGrath:I thought Reese, witherspoon, ryan, sirhan, tom very rich role, by the way. His content's very deep, tom, very deep, and he's a real life change. He's a bit like dr Fred, the dear friend of yours and mine. He kind of changes lives with his content. So I've got a few points from him, but I'll just start again with Reese. You know, I thought Reese was brilliant because most people thought of her as just being an incredibly talented Actor or actress in the old language. But she showed that she is a very astute business woman And her advice was was very strong. A lot of people said oh, you know, we thought it'd be nice to see a celebrity Like Reese, but when we heard what she said to say man changed our lives. So you know the key things I took away from Reese. I mentioned a couple of these last week told me You know she's big into storytelling and I know that's her industry, but you know it's we're in storytelling. And somewhere further in the notes I'll talk about another comment that someone might have been.
John McGrath:Cure and resnaghan said that people remember stories, not formulas, and I think the story is. And if you want to sound more corporate, call them case studies if you like, but that's sort of language. So I really think it's important To become a great storyteller. Whether you're selling a property, the story about the property, the neighborhood, the time, the market you know stories that that are real, authentic, um, or whether you're listing a property, i mean you know people will remember the story you tell them about how you found a buyer for another property and had it styled and got a premium price.
John McGrath:Um, she also spoke, told about what I've coined it, what's in it for me. But she, she was very big on Whatever you're doing, whether you're storytelling, whether you're on social media, make sure That you're thinking of the audience, not yourself. And I think you and I bang on about this regularly told me that Agents seem to think about themselves and their own egos when in actual fact, you should be thinking Who's this being written for, who's this being Content being aimed at and what's important to them. And she, she said how do you want to make them feel So? do you want people to feel confident? You want people to feel curious, you want people to feel educated at as a result of your Intervention or your listing or your tele prospecting call or your social media post. Um, she went on to say you know, it's all about adding value and educating people. We've said that ourselves many, many times.
John McGrath:She talked about, um, women. What an, what an incredible. And she's a huge advocate for Women in business, women in the arts. You know just women in the world in general, not not necessarily just successful women, but you know women that um a disadvantage as well. She's a big um Person around that and she said I think the statistic told me, or she said, 72% of the decision makers when it comes to property, from the research she'd done in in down under this is in Australasia were women. So once upon a time, you know, the man bought the car, the man shows the bank, the man bought the house. Maybe, probably the man said who should sell the house. Things have changed on their heads, so get with it guys. John, you're joining joining.
Tom Panos:Can I, can I just can I just Uh extend on that Doing auctions on a Saturday, you often start seeing an agent do a post auction negotiation with a couple And I find it fascinating, John, that there seems to be a tendency the agent has got more eye contact and discussion with the male in a female couple And that's a very, very good point. And whether they do it subconsciously or whether they do it because they feel like I'd make the decision in my house, I don't know what it is, but it is a very good point, John.
John McGrath:I think it's hard. The habits are hard to break, tommy, and I think you know it was only a generation ago, or even perhaps a decade or two ago, where that paradigm which was never a good one, by the way, but it was probably close to true no longer today. So, women, storytelling video, big on video. And one of her great phrases was authentic, be authentic. Imperfect is ideal, imperfect. She said don't stress about perfect hairstyle, perfect this, perfect audio. And you're great at this, tommy. I mean, you just pop up there in a balcony and often you'll pop up at an airport or somewhere, and it's what people want. They actually want to see the real deal, not the mega studio over polished. So, yeah, get over your insecurities and just jump on, jump on zoom, jump on social media, jump in front of a camera, whatever it is. Now. Segway, ryan Sirhan I thought one of the best 30 minutes I've come across in 25 years, and then mentioned a couple of these last weeks, a few new ones. He's all about creating advocates. One of the things he said to him was you know, he said, don't give up the lower price range stuff. He said I still do little little. Yeah, for him little is probably three million, but he said I still do lower price properties as well, because he said that the vendors and buyers at the lower end of the market become your advocates. So he was all about volume business And he said the more clients you can touch, the better, so don't go so exclusive in his mind anyway that you actually cut out a lot of your market. He said his words were embrace, volume selling.
John McGrath:He talked a lot about energy And one of the favorite things he said was energy is a tactic. Change your energy, change your life. Energy is a tactic Change your energy. And he talks about big money energy. I think you might have just released a book around that And he said it can be learned and practiced. One of the great things he said and I've used this half a dozen times in coaching since was he said yeah, do an energy audit. Ask a close friend who will be honest with you. What is it? Can you describe me? Tell me about my energy, my habits? you know, what do you see when you see me, when you're around me? How do you feel?
John McGrath:And that particular one for people that weren't there, you know, the person said oh, yeah, i'll tell you if I like. He said well, you, you, you, you, hunched over in the shoulders, you haven't got a good posture. You always look down on the ground. You don't listen enough. And he said half a dozen things that most people lesser people would have been highly offended at and gone into defense mode, and he said thank you for being honest. Then he went away and thought about it And he thought about the reasons and he reversed them and he realized that some of them had dated back to childhood. And he said you know, if I hadn't asked that question and probably more importantly, if I hadn't been prepared to accept the answer, i never would. And he said that was one of the greatest exercises I ever did.
John McGrath:He talked about projecting future. You and some people call it fake until you make it. But he said you know where are you going to be in five years time? If you're going to be the best agent in Australasia, we'll go there now, mentally, physically, emotionally, walk like you're the best agent, talk like you're the best agent. One of the things he said I'm just looking for the note he said when the people who we're the ones who own every room they walk into I love that quote That's gold, is that good. I'll send these off to Tommy so he can have a look at them, the people who we're the ones who own every room they walk into.
John McGrath:And, by the way, what I love about him, tom, one of the many things is he's not an arrogant guy. You might get that impressions show and the editing and the little, but he's actually. You know, and you got to chat to him offscreen, i know he's actually a very decent guy, really good guy. So arrive like you already have the listing. Arrive at the property like you've already got the listing. He talked about when he did the casting call to get on the broker and he was a no one broker. He was, you know, number three million in America or something. And he said he arrived at the broker and he said to himself I am the greatest real estate broker in the history of the world And he decided that he was going to be the best. So he may as well start acting like the best and sounding like the best already. Why wait? Because he said they're not going to hire me just on any other reason. Because he said I've got no track record to speak of. The other thing I really liked is and I use this a lot, tommy, in my own sort of selling world.
John McGrath:He talked a lot about unselling. He didn't use that phrase. I've applied the phrase. So he sort of said, when you're with a buyer and they're a bit short on the bit below the price, they won't budge. You say, tom, this home is expensive. And he said, to be quite frank, maybe this is a little bit too expensive for you and what you're looking for at the moment. Why don't I find something that's more within your budget? So it's kind of that care, but not that much, that we talked about And I thought that was really cool. And a lot of people say, oh no, i can afford the home, so let's look there Other homes less expensive. I get it, i don't want to stretch you.
John McGrath:He also talked about be gentle with people. Don't freak them out, nudge them into a decision that they were going to make anyway, but never try to push a square pig into a round hole. He's a great believer in building a multi-stream business and the metaphor he used were he said, don't go one year by one year, one listing and then pull your focus on it and then wait, sell it, then the next one. He said, throw all the balls in the air and then manage their flight path, which I thought was a really interesting metaphor. He said dude, if you catch 80 to 90%, you've done well. So yeah, just see it like your jugulari under the balls in the air and five of them fall, and that doesn't matter because you still got 95 and it's still a great act. I thought that was really good.
John McGrath:He did talk about push, pull, persist were three things. The push was as you take it off into the market, whether you're trying to list a property or you're selling and representing a property. What's the creativity you can use to get excitement? What are the incentives? What can you do to push it out there and excite the market? And pull is how do you encourage people to make the decision they want to make anyway? Never try and make someone make a decision they don't want to make. But how can we encourage them through our language? The last one was persist, follow up, follow through, follow back. He just said follow up, follow through, follow back, keep doing it, keep doing it and that will get you there.
John McGrath:Tommy Ferry, you know I'm going to say it. I think I mentioned it last week, but the best metaphor was he talked about the Golf Pro. He's on the driving range, he's hitting a lot of balls. He said they're all falling sort of generally close to the pole. They're pretty good. The Golf Pro walks up to him and says do you want to learn how to become a really good golfer? And he thought, shit, i thought I was a really good golfer. And the guy said show me the grip you use on the club. And Tom held his hands on the club and he held it up to them And the guy just grabbed his hands and he turned them about two inches. He rotated them two inches to the right and he said try this now. And he said the first four, five or six were terrible. Then the seventh, eighth, ninth started to become good And then from 10th on he had a whole new golf swing that took him to a new level of greatness.
John McGrath:And he said you know, the interesting thing was for a lot of people sometimes it's a two inch rotation of their skills, their dialogue, their tactics, their approach, their manner, their energy, whatever it is. Sometimes it's a two inch rotation to the right And he said you've got to get that. It's going to be uncomfortable until it's comfortable. Every change is inevitably uncomfortable. But he said you do it. He said if you trust the professional, if you trust your mentor, trust your coach, and you do that. So two inches to the right and it happens. And he said man, that's that was. I thought that was such a great metaphor.
John McGrath:He did a little exercise. Tell me. He said you know, open up your phone how many contacts you got. Multiplied by 5%, that's how many of those people are going to move in the next 12 months. You know I had 14,000 online. A lot of people had that or more. Some had 3,000, whatever it is, 5% of the number is a big number. And he said people sell when their circumstances change. But if you're not in touch with them you'll never know when their circumstances change. You don't know if their parents one of them dies, passes away. You don't know if they're going through divorce. You don't know if they've had a child. You know you don't know if they got a job transfer. So he said just pick the damn phone up and start calling people. And the last one I had Danny go Tom.
Tom Panos:Johnny, while I've got that slide you sent it to me and I've had a lot of people ask for it He talked about Mike Bance's five key questions about life. So quickly, just read them out, johnny, if you remember those five questions. Question number one what is your purpose? Question number two what are your God-given talents? Question number three what are your values? Question number four it's 20 years from now. How are you showing up for others? What did you build? What's the vision? And question number five who would you be if you were already there? And he talked about that those questions were shaping his life and that a lot of his clients had actually used those questions to create a roadmap on what their life was going to look like in the future.
John McGrath:Yeah, and some of that touched on the right to project your future self, where you're going to be in 20 years. Why don't you get there now? Rich Roll very deep, went through a terrible part of his life. You know he's addicted to alcohol and health was How did you?
Tom Panos:find him, john? How did you? I mean, john, this guy here was unknown to the Australian audience, right, but I call him the intelligent attendee speaker, right, because he does need. He doesn't have a lot of one-liners that roll off the tongue and that's why his podcast is two, three hours. He gets very deep into a subject. How did you find him, john?
John McGrath:Literally through the podcast. I mean the first thing. I'll be very honest, aesthetically. I saw I was watching YouTube and YouTube gets to know you and it knows you like podcasts. And somehow it popped up on my feet And I liked the aesthetic of the room. He has this beautiful black room and he's got the Sort of the way he divides the screen was really good And I thought, wow, that looks really interesting. And the guy looked kind of interesting. He's kind of 50-something, maybe late 50s, and he kind of looks like a bit of a surfer dude from the 70s. And I started listening and I thought, man, that is deep stuff. So I just became addicted to listening to his tapes And, as you and I and Nicola and the others always do, just sent off an email and he came back and said love to be a part of it.
John McGrath:So a couple of things there, and we'll let everyone know when we have the Eric videos available, because you've really got to watch all these people go to work. A great resource, tom. If you're Jim members, i think for sales meetings you could play one of those for the next 35 weeks, one a week, and then debrief it And you've got your whole sales meeting agenda. So you change when you change your lens. You know he just talked about until he saw things differently. You know he was nowhere And he said someone said to him you know he is. The good news is I've had a look at you, this is, i think, a therapist. He said you've only got to change one thing. He said the bad news is that thing is everything. So he was at a point where needed an extreme makeover to actually not just be successful but, more importantly, save his life. He talks about all of us are sitting atop a reservoir of untapped potential. That talent is overrated, which I agree totally. He said the discipline and commitment can erase any talent deficit gap. I'll say it again discipline and commitment can erase any talent deficit gap.
John McGrath:He talked a lot about cultivating a bias toward action. You know, don't think about it, don't hypothesize, don't tell someone one day you're going to do it, just do it. And he said mood follows action and you can't think your way into a new reality. You cannot think your way into a new reality. So you know it's all about action. Tony Robbins talks a lot about that, of course, about you know the importance of taking action.
John McGrath:I like this little one off quote. He said choose to be neutral, be a Jedi, be like a Jedi warrior cool under pressure, neutral under stress. I think it's a good thing, because you and I told him you know, we're kind of the other end of the scar. We're passionate, we're vulnerable, we wear our harness And I think there's a bit of that. It's really good for both of us and for the people we serve. But I do often wish I had, like I would develop the skill a bit more around, being like the Jedi warrior, shunning, small, and he's very good at it. It's changed, just like you know, it doesn't matter what you throw at him, what he hears, what he, what you say. I mean he's very calm, cool and collected. He's just a great example of that And I like this one too. Setbacks reveal character. So this is the way he looked at it. His life Winning is a celebration of getting through the tough moments. I love this one. Winning only exists because of failure. That's just goal.
Tom Panos:You know, it's because of win.
John McGrath:A lot of us are sitting there and we're saying, oh yeah, we haven't achieved this. We thought we would and we've done that. We're overweight or we've got no listings, or we only did, we're just making ends meet. Winning only exists because of failure. So if you take the failure or your perception of what might be failure and you just say, well, this is my path to winning, justin Nickerson, i got some good stuff from Justin. I haven't spoken to him yet. I should call him. I apologize, justin, if you're listening to this or if someone knows him, please apologize. I will call him and thank him. But a few good things there. I like what he said.
John McGrath:The inspection to offer ratio is seven to one. So that may or may not be yours, but the answer is you should know yours and you should track it. So if for every seven people you show a property, you get one inspection, then you can have a valid discussion with a vendor and say, tom, we've now had 21 inspections at your property with pre-qualified buyers and we haven't had one inspection. My concern is typically in this area. For properties like yours, i would expect three offers for 21 inspections. So I think we need to look at the variables, the main one perhaps is price, so he talked about that. He also mentioned another good statistic in his experience that if you have three or more offers during an auction campaign, it will deliver you a 90% clearance rate. So he's very big on extracting offers. He says look, tell me about what I don't think it's not quite for me. There's a few things that need to be done. So at what price would this become attractive to you? Where do you see the value and at what price would you be a competitive buyer? So he encourages people to provide not just feedback but an offer that they would buy it at. And he says three offers for him deliver a 90% And I love this one too.
John McGrath:I actually didn't hear this at the time. I must have stepped out of the room, but I think Dave Woods could aid a day. Dave, if he's listening, say, could aid a day Elevator or a 20-second listing presentation. And he said was the effect that I've quick to couple my language. He said, tom, we find an emotional bias for your home. We help them fall in love with it. We create a competitive environment to maximize their offer for you. So what do you say if someone said why would I use you, tom? By the way, i'm about to go, i've only got 20 seconds. Why would I use you? You know, tom, we find emotional bias for your home. We help them fall in love with it. We create a competitive environment to ensure that we maximize the offer we provide to you. I think that's very, very cool. So, nico, well done. Australasia's best auctioneer the Aussies would say Peewees would say something different, but I reckon if he's not, he's bloody close.
Tom Panos:He was outstanding, john, and let me tell you, i still remember on one of your slides, 25 years ago, when I was working in News Corp And you presented for us, you used to present quite often You had that formula. It was emotional connection, Yes, world-class presentation. If you remember, john, it was this formula.
John McGrath:More bias, emotionally connected with competitive tension, equals premium price And that's kind of pretty much what his thing has said, which is bloody brilliant. I'm just going to finish on. There were four minutes to go. I'm going to finish on here at Presnan. Why? Because it was a great presentation And I love him like a brother.
John McGrath:I've had the great pleasure to be in business with KB and Matty King for many, many years. I don't know the number, but I'm going to say it's got to be nudging towards 20. He gave a great presentation. A few key points I'll pull out. Consistency is the key to mastery. He's a guy that'll say that I haven't got a lot of natural talent, i wasn't born with natural talent, gift of the gab, any of that stuff. But he said I turn up consistently and I give a damn And that's key. Hard work and disappointment are the keys to success And I think when he said disappointment he meant kind of handling disappointment, right, yeah, being able to deal with the failures. And, as Rich Rohl just said, you know, winning only exists because of failure. People buy stories. We heard that up front from Reese and very similar KB. Vulnerability is the ultimate in strength. That's a good one And I think again, tommy, i'd love to think you and I sort of represent that We're honest and open and we care about stuff. He talked about investing in relationships, which sounds like just three words, but when you know the guy, it's real stuff. He really invests in relationships.
John McGrath:Then he gave three, two or three really good questions to ask buyers Yeah, tom, how long you been looking? Have you been or made offers on anything else so far? What's the best place you've seen? and was there any reason you didn't buy that one? And the fourth one was if I found you, there are deal place today, tom, is there anything that would stop you from buying it? and I just think you're having those little tools in your toolbox and you're gonna learn them so they don't sound like robotic statements or coming off a workshop Or a podcast.
John McGrath:But so, tommy, how long you just just go to get a bit of information so I can really serve you better? Just give me a bit of sense How long you've been looking And and is there anything, while you've been looking, that you've been or made offers on so far? Can you just tell me, of all those things you've looked at in the last six months, what was the best place you saw. Okay, 10 Smiths. Could you just give me a sense of why that one didn't end up being yours? What was the reason you didn't buy it?
John McGrath:and then, tom, yeah, i just got to ask you because, yeah, my, my, my goal is to actually serve you properties that not only match your criteria but they're ready to go immediately And they're ready to sell. So if I were to find your place that's ideal today, that matches everything you're looking for, are you in a position to sign a contract and make it yours that I just ad lib the last one. But yeah, whatever you've got there and feel free to plagiarize anything we've got. We've fitted it in, tommy, i said I was gonna get you out and about before 12, but I'll send you, tom, i'll send you and Susan these notes. So you've got them, because I know you're on a break and We'll let obviously all Eric audience and and, if you're happy, all your gym members know when the video is out, because I reckon that's a damn good content. Joining it for your you're joining me on.
Tom Panos:You're joining me on June 30 For a bit of a direct and taken day through our gym members and a few others there, hopefully, who knows? by then maybe the video editing would have been done and yeah, we can. We can make them available by then, jody. Outstanding summary. Outstanding summary of Eric and to everyone, we'll talk to you next week and we'll have Troy with us. Thank you so much signing off. Enjoy your break. See you, tolly, take care You.