Tips from Australia’s Best BDM

Recently Real+ were excited to invite Adam Freitas, BDM at Raine & Horne Newtown & 2018 REB Australian BDM of the Year into our Virtual Classroom.

During the session, here are some of the top take tips Adam shared with his Real+ Coach, Kate Benjamin:

  • Elevator pitch – You need to be able to clearly articulate “Why” a client would choose you and your brand to manage their property and this will differ based on client needs and previous experiences.
  • Lead Sources – Based on current market conditions, missed opportunities are the best source of New Business in a slowing market for Adam. In the early days of his career, he spent hours each day building his database with sales OFI attendees and current tenants -he continues to do this on a regular basis.
  • Prospecting targets – Aim high, 40 – 50 calls per day dependent on the source you are focusing on.
  • Accountability is imperative, know your numbers and involve your team, peers and a coach to hold you accountable to sticking to them.
  • Block out time – Prospecting needs to be in your calendar every day. You must love the phone.
  • Listing presentation – You must have a tool kit stocked with evidence, stats, comparable properties and case studies. You must understand in some presentations you may never use these tools, but you can never be too prepared.
  • Fees – at least 75% of Adam’s clients want to negotiate, and you have to be ready and willing to fight for your fees. Adam overcomes client objections by demonstrating a premium marketing plan and well documented market share across all property types in his core areas.
  • Marketing – Social media is where Adam experiences the most traction. Adams personal website and his use of video has allowed him to connect with his ever-expanding client base.
  • Key to success – Discipline, focus, structure. Sit down and work out, based on the number of properties you need to achieve, what activity to you need to undertake to achieve this. Consistency of prospecting and don’t me afraid to miss out on listings because the more you lose, the more you win.

Thanks, Adam, for sharing!

Adam has been working with Kate Benjamin, New Business Coach at Real+ for over 18 months. During December they will be focusing on Adam’s 2019 goals.

If you would like a copy of the Real+ goals template, click here to request a copy, and go into the draw for a free New Business Goals setting session.

Continue Reading

Increase your deductions sooner using the low-value pool

When it comes to claiming depreciation deductions for qualifying plant and equipment assets*, property owners should be aware of certain tactics which can increase their deductions sooner.

This will increase their annual cash flow and allow them to realise the benefits from their investment property sooner.

One of the simplest ways to do this is to claim immediate write-off or to place low-value or low-cost assets into a low-value pool.

Certain assets may qualify for either an immediate write-off or the low-value pool, depending on the value of the asset at purchase.

For example, if an asset is valued at $300 or less, the owner will be entitled to write-off the full amount in the first year.

If the asset is valued at $1,000 or less, increased rates of depreciation can be applied through the low-value pool.

Low-value pooling                                                                    

Low-value pooling legislation allows owners to group qualifying depreciable assets in a pool which will depreciate at an accelerated rate. Assets normally depreciate at a pre-determined rate set by the ATO, which varies between assets. Property investors who acquire low cost assets and choose to place them in the low-value pool can claim them at a rate of 18.75 per cent in the year of purchase, regardless of how long the property has been owned and rented. From the second year onwards the remaining balance of the item can be claimed at a rate of 37.5 per cent per year.

Low-cost assets

A low-cost asset is a depreciable asset that has an opening value of less than $1,000 in the year of acquisition. This can include things like cooktops, range-hoods, exhaust fans and blinds.

Low-value assets

A low-value asset is a depreciable asset that has a written down value of less than $1,000. That is, the value of the asset is greater than $1,000 in the year of acquisition. However, the residual value after previous years’ depreciation is less than $1,000. Assets meeting this classification are placed in an itemised, low-value pool. An example could include a hot water system acquired with a value of $1,100. In the second financial year of ownership, the asset would have depreciated to a written down value less than $1,000, which would make it eligible to be placed in the low-value pool.

* Under new legislation outlined in the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 passed by Parliament on 15th November 2017, investors who exchange contracts on a second-hand residential property after 7:30pm on 9th May 2017 will no longer be able to claim depreciation on previously used plant and equipment assets. Investors can claim deductions on plant and equipment assets they purchase and directly incur the expense for. Investors who purchased prior to this date and those who purchase a brand-new property will still be able to claim depreciation as they were previously. To learn more visit www.bmtqs.com.au/budget-2017 or read BMT’s comprehensive White Paper document at www.bmtqs.com.au/2017-budget-whitepaper.

Article provided by BMT Tax Depreciation.
Bradley Beer (B. Con. Mgt, AAIQS, MRICS, AVAA) is the Chief Executive Officer of BMT Tax Depreciation.
Please contact 1300 728 726 or visit 
www.bmtqs.com.au for an Australia-wide service.

Continue Reading

A TIMELY REMINDER

Time is precious – that’s nothing new!

Whatever hours we work within the week, there is an element of certainty around the constant workflow, ongoing client relationships to manage, juggling tasks to complete and of course in property management, the interruptions that occur throughout the day! It’s simply our reality.

The first step to productivity, efficiency and less stress, is to identify the inefficiencies in your day and recognising where your time is being spent. It’s about understanding priorities and removing distractions to help you make the most of your working week.

Firstly, think about how much time you actually have available daily, weekly, monthly and annually? Considering things like annual leave, public holidays, travel time and non-negotiable meetings helps you to realise the actual amount of time you have available to complete tasks. And when you are thinking daily, remember nothing take 5 minutes, so overestimate the time tasks take.

If you are uncertain, take our time log challenge! You’ll be surprised that what you think takes up the most time if your day, may be different to what actually does.

Then, look at the way you structure your workload. Block out time for like tasks and deal with one task at a time. This will help keep you mind clear and avoid trying to do too many things at once, because we all know that multitasking is a myth!

Of course, many of our inefficiencies come from distraction, which may be the interruption by colleagues, the constant beep of technology or our own procrastination. So be aware of these distractions, learn to say no when you need to and allow time for the unexpected!

If you would like further help in productivity and efficiency, feel free to get in touch.

Continue Reading

Trust Accounting: Four weeks until Christmas

Just over four weeks!!

Each year during the holiday period, Real+ has shut its doors and enjoyed some down time.

This year is different! The Real+ Outsourced team will be in full swing.

While our client’s offices may be closed, they can do so knowing their trust account is still being processed in the same, reliable way and the owners will receive payments the same as any month.

How can our Outsourced team help you this holiday period?

The Christmas break is just over four weeks weeks away and fast approaching!

Real+ Outsourced specialise in:

  • full trust management

  • end of month

  • holiday cover

We want to ensure this year that as many real estate agents as possible can take a break. Yes, that’s you!

We can arrange one of our trusted consultants to step in for you or your trust accountant to administer some or all the functions of your trust account.

Our team is available to assist with daily receipting, reconciliation and invoicing or only processing end of month.  We’ll provide as much help or as little as you need or want.

So be kind to yourself…

Why not give yourself a Christmas holiday free of stress and worry. Contact Real+ Outsourced to discuss the holiday coverage options for your business.

Call  02 8355 4999

Email team@realplus.com.au

MORE ON OUTSOURCING YOUR TRUST ACCOUNTS

Continue Reading

VISIT AND SUPPORT OUR PARTNERS


  • Direct Connect
  • EBM
  • Rockend
  • BMT
  • Inspection Manager

    • Direct Connect
    • Rockend
    • EBM
    • BMT Tax
    • InspectionManager 4 Banner Jpeg

      Subscribe To Real+

      Discover more and keep up to date