March 17 Sales Coach Subscriber Edition 2004

The Sales Coach eNewsletter

SALES CHAMPIONS

17 March 2004

Issue No. 30

Hello

Here is your latest edition of "The Sales Coach" by Sales Champions, your Australian Real Estate Sales Coaches. The Sales Coach is your fortnightly eNewsletter that includes tips and articles for helping you to get more Listings and Sales.

We’ve been gallivanting around the Qld countryside and enjoyed meeting agents from Townsville to Mackay. In these areas, property prices have risen considerably, but not as much as in the south east corner of Queensland (one of the Eastern states of Australia). The same story is surfacing no matter where you sell real estate: buyers are becoming cautious due to self-restrictions on the amount they have to spend, and sellers are holding out for more money because “everyone knows real estate has boomed”.

This week we are moving, so our apologies if the phone or emails have any problems with the change over. Make sure you book for the next seminar, and see a terrific

business opportunity below!

Looking forward to catching up and having a chat, when we can.

Warm regards, Narelle & Dennis

Are Consumer Protection and Profit

Compatible in a Business?

by Narelle Stratford & Dennis McMahon

How can you still run a business with all the restrictions from the Privacy Act, the Anti-spam Act and now the Financial Services Reform Act?

The point is, these protective changes had to occur. As consumers we want to be protected as much as we possibly can, and as agents or small business owners, we want to make a profit.

We believe that the two needs are compatible and that the more you attend to the needs of the consumer, the more reassured they will be and the more likely to trust you and want your services.

With the commencement date of 11 March 2004 for the Financial Services Reform Act, comes nothing new. This Act has been in place for the past two years, with a transitional period during that time. It means that there is now the opportunity to make a scapegoat or two out of those who are still ignoring the implications of the Act.

Regarding the FSA, Real Estate Agents aren’t actually specifically included in the Act. The Act is concerned with the provision of advice on financial products, such as shares, bonds, or insurance products. The giving of financial advice regarding products is now limited to those considered qualified (with the right piece of paper!) to do so. Where there may be an impact though, is if you are involved in arranging insurances for property landlords and the like. It is quite clear that you can only involve yourself in an administrative sense and in no other way.

For real estate agents, it is more about what you cannot do, that is most important. You cannot promote and sell property developments as ‘financial planning property investments’, because of the potential to mislead investors with a speculative offer of high returns on investment.

From a financial planner’s perspective, consumers need to diversify their investments to offset risks and have some financial security. Because of the amount needed to invest in property, it can mean there is little money to invest anywhere else.

You cannot give projections regarding financial returns on a property. You can say “that these are the facts for the past 2 years”, and cover yourself by adding, “and of course, I cannot guarantee that those will be the returns in the future.”

You cannot recommend that a buyer negatively gears a property, but you can say whether or not a property will be negatively geared at this point in time according to factual data.

You cannot predict what the market will or will not do; but you can state what the current market situation is, on a factual basis. If a client wants to draw you into expressing an opinion on a future outcome, state simply and nicely, “I’m not a financial planner, and can’t crystal-ball the future, so you will need to seek independent financial advice.”

You cannot recommend that a buyer purchases a property for investment purposes, but you can state the facts of the property, price, and return on investment in today’s market. Again, be careful that you don’t make future projections.

Always recommend to the client that they seek financial advice from a registered financial planner, licensed adviser or tax expert.

You know [FIRSTNAME], there really is nothing new in any of this. We none of us want to be ripped off, or given shonky advice by any of the professionals we deal with; just as our clients want to be given fair dealings, so do we. I know that many Agents will say that you can’t trust other Agents, vendors or buyers.

The only way that this will improve is to work on our own ethics, integrity and professionalism through following the rules and it then comes down to treating others how we’d like to be treated: with respect, courtesy and consideration and the expectation, nay a demand, that you will receive the same from others.

For further info, go to the REIA or ASIC websites for more information on the changes to the Financial Services Act, as the above information is intended as a guide only.

Interested in becoming a

Sales Champion Sales and Business Coach?

Give us a call or email for further information!

[FIRSTNAME], How's business?

Do you have a Business Plan

designed to bring you success?

[FIRSTNAME], you are invited

to attend the Seminar that will give you your:

Book Now	Business Plan "If you don’t drive your business, you will be driven out of business." B C Forbes Come along and learn how to drive your business via your vision for your business and create your own business plan.
Date:	Tuesday, April 13, 2004
Time:	6.15pm for 6.30 to 8.30pm
Venue:	Toowong Library in the Toowong Village Shopping Centre with Fr^ee Parking
Tickets:	$55 - Bring a colleague for Fr^ee! Book ASAP as Seats go FAST!!

Notes and Coffee provided

Bookings are absolutely essential

To book your seat send an email to

apr13sem@saleschampions.com.au

( now: 0412 251 196 / 07 3255 0739

Book by 5pm Monday April 5th

and come for FR^EE!!

If you can't attend, perhaps you know someone

who would gain from this knowledge?

You might like to help a friend or colleague by passing this message on.

WINNERS ARE GRINNERS!

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Call 07 3255 0739, or email with the correct response and WIN!

Consider this: when you don't set boundaries, don't take control, and things you find unpleasant 'happen to you', you have opened the doors and invited them to happen because you abdicated responsibility.

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