The PROPERTY DOCTORS, Sydney Australia Novak Properties

NOVAK NEWS - SPEED & CONVENIENCE, OUR STRATEGIES THAT HAVE CHANGED EVERYTHING

• Mark Novak, Lisa Novak • Season 27

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Speed and convenience aren't just buzzwords—they're the lifeblood of today's business landscape. Imagine responding to a client inquiry in under ten minutes or delivering a property appraisal in just three. Our latest episode takes you through why rapid response and efficient service delivery are non-negotiable in meeting modern consumer expectations, especially in the fast-paced world of real estate. Sharing insights from industries like taxis, delivery services, and banking, we illustrate how these sectors have redefined customer experience through speed and convenience.

Ready to revolutionize your real estate game? We showcase our trailblazing three-minute SMS appraisal system, enabling clients to receive property price estimates and comparable sales data almost instantly. Our in-house photography services ensure that properties are listed within the same day, setting us apart from traditional, slower methods. And for those who still appreciate the charm of print, our weekly magazine "The List" caters to hard-copy enthusiasts, proving that speed and convenience can coexist with traditional values.

Social media has turned the real estate industry on its head, and we’ve got the proof. From selling properties unconditionally within hours via social platforms to enhancing client interactions with instant media, we share real-life examples of how these tools accelerate transactions. Drawing parallels with iconic business models like McDonald's and Amazon, we discuss how eliminating obstacles and prioritizing ease of access can transform your business. Plus, catch our lighthearted moment of technical difficulty that gives Lisa a chance to add her unique perspective. Don’t miss this engaging discussion packed with actionable insights!

Speaker 1:

Hey guys, good evening Monday night. Novak News boy, it comes around quickly. Tonight we have got some awesome golden nuggets for you. We're going to be talking about speed and convenience and the things that we have adapted into our business that have changed lots, including stuff within the real estate industry. Stay tuned lots including stuff within the real estate industry.

Speaker 2:

Stay tuned, boy. Yeah, what an intro listen over oh thanks, oh my god, yes.

Speaker 1:

So, um you know, we often talk about speed and convenience being the new currency, don't we? Yep?

Speaker 2:

it definitely is. Look at u Look at the taxi industry, look at the delivery business industry, look at the banking industry Like it has. There's just been so much. I think the principles are the same, but the delivery methods are just being like bang, bang, bang, bang, bang. Yeah, crazy.

Speaker 1:

Well, you've got to listen to what the people want, you know, and I'm often saying that, even when you're ordering, like on Uber Eats, I know with our kids, you know they're not looking going oh, I really feel like pizza or I really feel like Italian. They're going. What's just going to be here the fastest. That's how we are. I'm always saying we're sport rats, these days.

Speaker 2:

I saw Guzman Gomez is doing 24 hour, uh, in kusula, so 24 7 aren't they? 24 7, yeah, operation, I just could not believe that. So, and I think four locations in queensland, I thought for such that that's a big infrastructure to be running around the clock like in mcdonald's or something like that. So well done the guzman Gomez. That is a typical example of how, again, the principles are the same. People just want to, you know. They just don't want good food all the time.

Speaker 1:

But now the delivery method is the same. Everyone wants everything yesterday. They just do. But we've built a model on that Mark over the years, like this hasn't just been something that we've done over the last couple of years. We actually have done this consistently through the entire time that we've actually owned and operated and started Novac 22 years. Everything was always done differently. Everything was always done conveniently. Do you want another pillow to sit on? Why am I looking a bit low? You're looking a bit low. Yeah, let me just put another pillow.

Speaker 2:

I'm just trying to adjust the camera, sorry.

Speaker 1:

Thanks, thanks, mate. Now I feel like I'm sliding down the seat. All good, all right. Now I've written a little list, so we're going to go through some things. I'm going to throw them at you and then you can quickly, quickly, quickly how we've done these things. All right, here we go ready. An email inquiry comes in via whatever realestatecom and domain. What happens?

Speaker 1:

one of our team members will answer that inquiry in nine minutes correct nine minutes and I have to say that there are times when I have responded to an email inquiry and that response has been like literally within 10 seconds and people think we're robots. We're not. We don't auto do this stuff. I know there are some agencies that will put an auto response on their email inquiries Not us, we don't. It's a real person that's answering those email inquiries. So we have company policy within 10 minutes. The rep's got to answer it within nine, otherwise it's open, slathered to anyone in the office, any sales agent, to grab that inquiry within 10 minutes Mark Kentwell.

Speaker 2:

Hey, Mark. Mark says I'd rather at least get to order from a reduced menu than have nowhere to choose from. I think it's a great idea by Guzman and Gomez, and they have a business that will allow, with only a few tweaks.

Speaker 1:

No robots at Novac, rosie. There you go. Rosie knows only too well. There's a person who runs a phenomenal business as well Phenomenal ACOP, australian College of Professionals. Phenomenal business, absolutely phenomenal. They'll travel around the country for you. Alright, let's talk about. I'm going to leave social media until last because I call it instant media. No, we're going to leave it until last, because that is all about speed and convenience. Okay, here we go. What about our three-minute SMS appraisal strategy? Crazy, talk about speed and convenience, yep.

Speaker 2:

So people are going well, look, how can you possibly do that within three minutes? Come back with a prize. Well, software allows us to do it. And again, how important is an appraisal to a real estate agent? It is absolutely critical. So why wouldn't you be on the front of your chair and answering that straight away when that comes through? People love it.

Speaker 1:

They do Absolutely. Speed and convenience, guys, is what we're talking about tonight and what we've done in our business. That has changed the game and again it was just listening to what the consumers wanted. I think, mark, if we can just tack on to the end of that. Just going back to email inquiries, what's the industry standard? Because we respond within 10 minutes. But what's industry standard?

Speaker 2:

Look, I think if you were dealing with majority of the operators, you know, the fact is that 20% are top of the game. Maybe even 1% are top, top, top of their game. You're going to get a different response to the 80%, so I'll answer the question in that way. In the 80% of them out there, you will probably get a response within 24 hours, maybe 48 hours. I agree, but that's not having a go at the industry, but it's just, there's some that are just particularly agile, which would be that top 1%.

Speaker 1:

You just deal with them in any capacity they can be bam bam bam. I think it's gotten better, though, I do think it's gotten better. I think, response times used to be within 72 hours.

Speaker 2:

People aren't tolerant.

Speaker 1:

No, literally they'll move on to the next property due to the lack of response and, just now, the three minute sms appraisal. So can we just explain for a second, just in a nutshell, really quickly, how that works, um, what a three minute sms appraisal is and how, how it works so we do a promo out there.

Speaker 2:

You've got a copy of that a promo in our marketplace saying let us know your address. In three minutes we'll let you know a price. They will sms it across to a sales rep or to a central number that we also host Yep, and we will go back with a price to that client and comparable sales. You know what's sold in the area around that price range, where you should be around that price range, and then there's a hook at the end for people saying let us know if you need more information.

Speaker 1:

And I do want to say, guys, it is sight unseen, right. So for a more accurate appraisal, we do need to walk through the property. Or when we're signing up your property, we do need to walk through, and that takes about five to ten minutes to come through your property. But again, it's about speed and convenience. So if you're lying on your lounge at home and you're thinking, I wonder what my property's worth, you can literally flick us your property address to any one of our mobile numbers or to a central mobile number and within three minutes we will respond with a figure. We will respond with a figure, right. And again, it's about that speed and convenience and giving the people what they want.

Speaker 2:

Ordinary turnaround times, mark for an appraisal industry-wide. Well, it's not really doing it by SMS. I'd say you're going to email the agent, they're going to come back to you pretty quick and they're going to make the time to come and see your property and then they'll probably deliver a price after they come and see the property.

Speaker 1:

So probably, 48 hours to 72 hours at best? Yeah, I reckon definitely. So I know when I've gone through and I've done an appraisal for people and at the very least I'm going to be walking in with sight unseen pricing, so I've got something in my hand. When I'm coming through to do the appraisal, when I'm doing my follow-up calls with those prospective vendors, they're often saying to me nine times out of ten, oh, we're just waiting on the other agents to send through their proposals. I'm like, okay, that was 24 hours ago.

Speaker 2:

But coming from the older industry, we used to say you want to be the last Sometimes, yeah. So there used to be agents in our office that would say, oh no, no, we'll come back after the other two agents have come back to you. They want to be the agent at the end, Whereas you want that speed. You want to be known for that speed and you may lose the business by not coming. Agent at the end, Whereas you want that speed.

Speaker 1:

You want to be known for that speed and you may lose the business by not coming in at the end, but it shows how times have changed. Yep, I agree. Okay, let's talk about photography. So how quick are we doing photos? We've got our own in-house photographer guys as well, so we will talk in a sec about how quickly we can get your property on the market. Again, speed and convenience wins every time. Photos what's the deal there? And then let's talk about industry standard. We can get a photographer out literally tomorrow morning Same day.

Speaker 2:

we can have a photographer out and deliver your photos same day. But then if there's going to be touch-ups to the photos and it's going to be furniture, out of the photos next day, yep, which is quick, so industry standard.

Speaker 1:

I reckon you're lucky if you are getting them back after seven days. Really, yep, yep, um, getting your property on the market. How quick can we get a property to market once we've got all of that? We've got Rosie watching, once we have all of the paperwork that is required so contract of sale and assigned agency agreement how quick are we getting your property on the market?

Speaker 2:

rental same day commercial resi. What do you reckon sales?

Speaker 1:

I mean, if a vendor said, lisa, I've got all the documentation ready, how quick can you get my property on the market? I'd tell them within the hour yeah, we've got social behind it.

Speaker 2:

What's Mark saying? Presence, real estate, ah. We also believe speed is quality info Speed is speed of quality information for consumers.

Speaker 1:

No back rocks, woo, okay. So there we go, getting your property on the market. We can do it really quickly. I'm trying to build. Mark up I feel like he needs, like you know, those wind-up toys, let's wind him up.

Speaker 2:

This is the chill version.

Speaker 1:

That's all right. No, it's not. No, it's not Okay. That's alright. No, it's not Okay. Here we go Printing over to you for this Mark printing Printing sucks, it's old fashioned. We do heaps of it. We do heaps of it.

Speaker 2:

Well, so brochures, so getting that stuff out there, you know what people still have an expectation of hard copy when they go to an open house. So I'm pretty shocked when there's actually nothing to collect from the open house. It's sometimes interpreted the wrong way by buyers. They're like what do you mean? You don't have any? Well, here's a digital copy. They're like they expect something.

Speaker 1:

Well, look at what we do. We bring out a magazine every week. No one in the industry knows how we do this. It's called the List. Mark's going to grab one. It's called the list. It's our magazine, and so I don't know about you guys, but here on the northern beaches we don't have any real estate section, we don't have the local paper, so that became obsolete and we realized that there was a whole realm of people out there that still wanted hard copy, that could pick up a magazine with all of our pre-market and on-market properties, and we produce this every single week. It is a mammoth, mammoth exercise to get this out, but every single week, and the lovely thing is is it's not full of ads, it's actually full of properties oh, there's an ad of properties.

Speaker 2:

Oh, there's an ad there. And Lisa Novak, there's an ad.

Speaker 1:

That's not an ad.

Speaker 2:

That's not an ad, so there's a summary. So that shows you all the properties we've got for sale this week 33 properties. And look, is this speed? No, is it convenience? Yes, people still want to pick up a hard copy. They do so basically on the northern beaches.

Speaker 2:

When you come into any of our open houses we will have. We've at any one time we've probably got 150 properties for sale and for rent, 200 properties for sale for rent, um, commercial and residential, um, and then that's got pretty much all of our properties inside of it. So and it changes every week. So people, it sits in all the coffee shops in the area. People love it. So that's a. That's an example of convenience yeah, I think it's interesting, because you would think print is dead.

Speaker 2:

It's not, no, no, it's definitely not, definitely not. So we have, guys.

Speaker 1:

We have our own in-house print shop and that's what I was, you know, going where I was heading with Mark. So we've got our own in-house print shop. We literally print all of our brochures. So can you imagine the turnaround times? It is super, super quick. We even print all of our own massive stickers Look at Mark, he's like a proud dad Our own in-house stickers. So ie, if we've got a signboard and we then want to wrap that signboard which I do all the time saying congratulations DY, this property just sold for $1.2 million, we can do that and we can have that signboard wrapped literally within the hour. Yeah, here we go. Mark's going to badge up now, guys Ready?

Speaker 2:

There you go. There's like two typical real estate agencies. Look at that big banner printed on the window, the big black banner designed and printed at Novac and installed, and you know we used to have printing companies that would do this.

Speaker 1:

Turnaround times were still pretty quick. You know, usually three days later we could have it designed and then installed. We literally do all of that ourselves now Massive, massive sticker printers. What's Rosie saying? Well, miss Lisa, you sold one for me, listed two and sold in four days. There you go, there you go.

Speaker 2:

Ask the people. More stickers.

Speaker 1:

Thank you.

Speaker 2:

Rosie, more stickers. Oh, look at that. Yeah, so convenience guys. Static signage, hard copy print, still relevant in our industry, still big in our industry. People love us for it.

Speaker 1:

I've also got a people comment on this all the time. If I've missed a call because I'm on the other line, I've got a response that I send over to people saying I'm so sorry to have missed your call. I will get back to you within the hour. And sometimes people send laughing emojis like haha, and then I call them back within the hour always and if I can't, I will pass my phone to someone in the team that can get on to that person and that you know it makes you win a lot of business that way, a lot makes people feel good yeah and I think I think they remember you, they remember you for that.

Speaker 2:

Like that's just crazy, that's cool.

Speaker 1:

Thank you, but it's the same thing with um email inquiries and my telephone absolutely military and my social media. Someone sends me I mean you know, mark, like someone sends me a message on my social media. It's not an auto responder, it's me going. There's a link to the property. Let me get through and show you what this afternoon. It's just quick, fast, fast, fast. It's hard to watch all the time.

Speaker 2:

Yesterday we're walking the harbour bridge and I walked.

Speaker 1:

I walked ahead 100 meters Because I was on my phone the whole time.

Speaker 2:

Second time third time, fourth time, Melissa.

Speaker 1:

Mark Frank, are you going to walk or are you just going to be on your phone the whole time? Okay, I'm walking, I just put the phone down.

Speaker 2:

But the nice thing is with this redundancy. So when our reps are not wanting to work, they've got the team behind them to take, you know, and it's vice versa.

Speaker 1:

Correct, correct. All right, let's talk quickly about social media, because I think you know there's been lots of game changes, but this has probably been the biggest one. Oh, drumroll.

Speaker 2:

This is your favourite part, hey, greg.

Speaker 1:

Hey, everyone who's tuned in tonight. I actually call social media instant media because I'll tell you how I started off. I really like that, but it's the truth, right. And so I must say, when I came into sales now, going back five and a half years ago, I could not believe that it took a week to get your property on the market. Yeah, I was like what, what do you mean? Why is it taking this long to get people's properties out to the eyeballs? Because everyone was working around the newspaper deadlines. Yeah, you know, the photographers were the proofing that. Oh, we've got to have the ads in by friday, whatever it was thursday afternoon I think it was ready for the saturday publication and everything revolved around that.

Speaker 1:

And I was like so slow, slow and boring then. And then, you know, I very quickly realized that everyone has got these things called mobile phones and so all you've got to do is just do your live videos and it's out to the eyeballs and it's out to the people instantly. It's pretty nuts, it's crazy. It's pretty nuts, it is honestly crazy. And so for me and for you guys, for the people, that means that you can get to see that property first. It's quicker than waiting for the professional photographer. It's quicker than waiting for the professional photographer, it's quicker than waiting for the photos to come back and it's quicker than obviously getting out an email blast, which I find extremely frustrating and slow, and so that was the way to be able to get the properties out to the people quickly and say there you go, it's there if you want it and you get to see it first.

Speaker 2:

It's pretty hard to believe, though, what way Well people go.

Speaker 1:

Oh really, you're going to sell there if you want it.

Speaker 2:

Um, it's pretty hard to believe, though, what way well people are really. You know you're gonna sell it, probably that you know I remember 20 years ago the concept of buying a car unseen. People like that's bullshit, that doesn't happen. You're an idiot. Now people are trading through car sales like an enormous amount of stock unseen yeah I sort of Bobcat the other day again, unseen Bobcat is.

Speaker 2:

I do know what a Bobcat is. Yeah, so if you fast forward to today and people, people consuming property that way on social it's if you haven't realized it's happening all the time, like for us, even the amount of deals I've done with a particular. I've got one client that every time I put up properties I think it's a third time in two and a half years he's purchased.

Speaker 2:

Yeah, and that one client like he's in the peak of his career so he sort of needs to invest and spend the money along the way, but that one client just sees properties on my social and goes I don't know.

Speaker 1:

And I'm thinking and he rings me. It's really funny and I'm like yeah, you know.

Speaker 2:

So I saw this place and it's weird that it happens. But now to look back and think he's done it three times over two and a half years, that he's done it three times over two and a half years, that's like we've transacted four, five, six, seven, eight, nine. I've transacted nine to ten million dollars worth of purchases from him that he's just seen on my social.

Speaker 1:

It's, it's, it's, it's reality, guys yeah, it's out there and it's happening, and if your agent is not doing it, you are missing out or or if they're just putting up a little photo like a static photo and say, yeah, we do social media. That is not doing social media. Anyone can get any robot to do that. Yeah, um, you know, this is the live video content that we're talking about.

Speaker 1:

I remember I'd only been in sales for about a year and I was standing out the front. I couldn't actually get into this property. It was a house in freshwater and I was standing out the front of this property. I'm like, hi, I'm standing in the front of this property. I've got this great house coming on in freshwater. If you want to hear about it, first message me here. And from the moment I did that video, four hours later, the property was sold unconditionally. It's not true story, sold unconditionally. And I remember thinking, true story, sold unconditionally. And I remember thinking, oh, how the hell am I going to tell my vendor that I've just got one buyer who saw this on my Facebook page and I've got this ridiculous offer for them because he was like Facebook. What are you talking about Social media? Who buys property there?

Speaker 2:

And look, we're not saying this to preach the non-converted from you know. Yeah, get on to social Speed and convenience. It's all about speed and convenience. It's just another aspect of our business. That's it clearly, you know, is moving and shipping property at great prices for people and it's not that organic way, it's not that slower, it's not that you know, know slow a strategy that was sort of old fashioned and still works, like a lot of this is. It's just, that's been convenient.

Speaker 1:

It really makes money, but we actually we actually apply that to so many facets in our business, guys. I mean, I just signed a listing this afternoon um got the agency agreement within five minutes. So my team know the minute an agency agreement comes in within five minutes. The whatsapp group has got to be set up speed and convenience. There's a welcome there to the vendor and we're stepping them through the process already we're stepping them through the process already.

Speaker 1:

We're stepping them through the process already. I can't stop it. We're stepping them through the process already. Now I'm going to get the giggles.

Speaker 2:

It talks about the people in our area.

Speaker 1:

No, you just threw me off and already the photographer's booked in. The sales team are booked to go through. The floor plan has already been booked in as well. The contractor sale will be over tomorrow and I know that I'm going to have a buy for this property very, very quickly. Watch this space, guys. So this is a three better that is coming on in an area that I operate in a lot. Watch this back. Watch how quick this will come out to socials and how quick it'll be sold. Boom, boom. There you go. Rosie's on here. Rosie um, she's a friend, she's a client, she's also a really close work colleague. Listed their property and it was sold within a matter of days. Give the people what they want. Your win heart's everywhere, guys.

Speaker 2:

That's the bottom line Any other speed and convenience stories you want to share with the team out there.

Speaker 1:

I reckon that's it in a nutshell. What do you think?

Speaker 2:

I think when all of it's underpinned, when you love something and it's fun, it's fun, it's good 100%.

Speaker 1:

And this stuff that we do every morning. These guys show up and do Novak Morning Minutes. That is, giving you little, bite-sized nuggets, easy to digest, information that is convenient, hopefully, for you guys. All right, I reckon that's a wrap mark. What have you done? He's playing around with the screen. I think that's everything, guys. We're done. That's it.

Speaker 2:

Look and I think if you want to employ that in your own business as your own way of life, there's, there's lots of different ways. Look, um, it's just so clear and you've got to read the writing that's on the wall. You know McDonald's drive-through all about like they just revolutionized something real simple. So I'm not really the people. Really they won't get out of the car now. Yes, I was telling a client tonight.

Speaker 1:

I got one this morning. My drive-through piccolo, I piccolo on the way to work was so easy I was on the phone, I was in a meeting, drove through quickly signed something to the lady piccolo, la, la, and then off I went with it. The whole exercise, from when I ordered the piccolo to when I collected it and drove out the driveway, I reckon was 60 seconds major retailers, commercial real estate, major retailers will pay double for rent or not even rent the property over that much.

Speaker 2:

What do you mean? If you have a step into your shop of that or more, they will not rent the property Wow, even more. So they will halve your rent. That they will pay? Wow. Speed and convenience, that's a convenience. The fact is that you know, if you can't get your head around speed and convenience, how critical it is in business at the moment, get your head around that. You know your likes of McDonald's, your likes of Hungry Jack's, your likes of any shopping brands that are major retailers, they will not walk up a step. Think about your Westfields, all your Westfields shops. You do not walk up a step. It is speed, it is convenient. Look at Amazon, look at Amazon.

Speaker 1:

That's it. You know, and you know. Ask yourself, what do you enjoy as a consumer? And I think there lies the answer of how you should be running your business. I reckon that's a wrap, that's a wrap. That's a wrap, we're done. See, you guys, have a great night.

Speaker 2:

Thanks for watching. Bye, I didn't end the live. Oh no, lisa, you get another chance to talk. I'm back on my phone already, no-transcript.