The Right Group is a leading Property Buyer’s Agency based in Sydney.
Having extensively helped one of the principals, Victor Kumar build up a Mortgage Broking business in 2005, he invited us to help him and his new business partner build up their Property Buyer’s agency.
The Right Group’s marketing revolved around running a property buyer’s education club which offered fortnightly seminars on various topics regarding property investment.
They knew that people in the club were prime prospects for their services, so wanted to do a number of things…
- Increase the buyer’s agency fees from $5,500 per property selection to $6,996 as the first step, to ultimately raise it to $12,000 per transaction.
- Grow the database to increase the number of seminar attendees at the fortnightly meetings – as more people meant more potential sales.
- Increase the sales conversion at the fortnightly seminars so that they moved from purely educational content to actually selling properties.
- Improve the presentation and streamline the sales message by positioning the presenters and owners as the “go to guys” in the industry in Sydney
What we did:
We worked in a four main areas to improve their business.
- Seminar Structure
- Increased fees
- Client communication
- Blue Print Sales Process
Let’s take them in turn…
The Right Group seminars were wonderful – from their attendee’s point of view. Victor and Steve shared a tremendous amount of great information on just about every aspect of investing. They shared information about properties they’d bought and what they were looking at to buy.
Attendees loved the information, came to session after session (they are only $10/session) and soaked up the knowledge. But most never realised they could use the Right Group to source properties for them!
So being experts in creating and presenting sales oriented seminars, we completed reworked the seminar structure to structure the overall message using a proven formula which involved…
- Strongly focusing on one topic per seminar night – such as Tax Tips, Renovation Tips, Negotiating with agents etc.
- Emphasising the extensive “real world” experience of both presenters – portraying themselves as experienced, honest people, who were willing to share their successes and mistakes – which engendered trust in their audience. The overall philosophy was, “We’ve learned from all these mistakes – so you can benefit from our experience”
- Including case studies and testimonials as social proof – before and after real world, provable results showing the increase in value of a property in a few short months, increases in rents after minimal renovations etc.
- Focusing on sales and a call to action at the end of the presentation by making clear that properties presented at the seminars were available for purchase.
- Recording the sessions and selling the DVD’s for people who couldn’t attend.
One of the first things we implemented was an increase in Buyer’s Agency fees from $5,500 to $6,996 – an increase of 127.9% in pure profit, without the loss of a single client.
By giving fair warning to existing clients that the fee would go up, we created a rush of new signups at the old price before the deadline.
There was very little in the way of ongoing client communication or indeed encouragement to buy.
We instituted an process where clients were communicated with on a weekly basis and informed about properties on the buyer’s list. In addition, we arranged for selected properties to be “offered” to selected clients – on the basis of their requirements and financial circumstances. This meant clients were proactively encouraged to take action – over the existing passive, “wait and see” system.
Blue Print Sales Process:
Victor offered a free Blue Print session where he sat down with prospects and went through their circumstances and goals with a view to signing them up into the agency.
We helped him streamline his sales process as well as the follow up mechanism and material – resulting in a higher conversion rate.