YOUR CAREER IN REAL ESTATE
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YOUR CAREER IN REAL ESTATE Licensed Agent, 259 Emerson Street, Napier. Phone (06) 835 4321 anytime. www.coxpartners.co.nz support@coxpartners.co.nz
About
Cox Partners
Estate Agents
At Cox Partners Estate Agents, we realise selling or
buying a property is one of the most important financial
decisions most people will ever make. This is why we
work hard to ensure the experience is pleasant, and
that the best possible outcome is achieved.
What you might not know is that we are one of
Hawke’s Bay’s first real estate agencies. We were
founded in 1920 by Clarence Cox, a well-known Napier
community leader.
So, after almost 100 years we know the local area and
we have a history of proven performance. What has
changed over the years, however, is a commitment to
finding better ways of doing things.
We have a carefully selected and highly trained team
of people who work to sell property and find the right
property for buyers. Our success at doing this is based
on our history and a commitment to customer service.
The company and its staff have received several
service-based awards, including the Best Business
Service at the 2007 Lexus Customer Service Awards.
We know how important it is to trust the agent
and agency you’re doing business with, and to be
comfortable in the knowledge that we are at all times
working for you. If you’re still deciding whether we
are the real estate agency for you, then we suggest
you ask your friends and family about us. We have
thousands of happy clients and customers.
Licensed Agent, 259 Emerson Street, Napier. Phone (06) 835 4321 anytime.
www.coxpartners.co.nz support@coxpartners.co.nz
About Malcolm Cox
Breaking from traditions to be the best in the business.
Malcolm graduated with a Bachelor of Business Studies In 1995 Malcolm graduated again from Massey University
in 1981 majoring in Industrial Engineering and Marketing. this time with a Diploma of Business Studies in Real
He was recruited by Alex Harvey Industries, and was Estate. After graduating he taught the Real Estate
appointed Quality Control Manager at AHI’s Metal Systems segments on that programme. In 2013 Malcolm
Container Plant in Auckland. completed Post Graduate Management Studies with
In 1986, a major change of direction, took him to Sydney Massey University.
where he studied Osteopathic Medicine, and developed Malcolm’s goal is to create a business that provides the
an interest in Meditation. During the following six years best real estate service in New Zealand based on the
he expanded his skills through a variety of professions. highest standards of ethics, values and client care. This
In 1993 Malcolm assumed responsibility for Cox Partners commitment to be the very best has meant having to
Estate Agents. Under his leadership the company break from many ‘traditional’ methods.
has implemented some of the most innovative and
progressive systems in the industry.
Being the best insists that you are different. And the
transition from being ‘one of the pack’ to ‘one of a
kind’ has not always been simple. It is sometimes
painful, and sometimes makes you the target for
pressure and criticism.
However for Malcolm, nothing is more rewarding than
to be different and to make a difference.
Malcolm and his wife Helen live in Napier with their
teenage son. They also have twin adult sons.
They actively support the performing and visual arts in
Hawkes Bay.
. Malcolm Cox
Managing Director
Licensed Agent, 259 Emerson Street, Napier. Phone (06) 835 4321 anytime.
www.coxpartners.co.nz support@coxpartners.co.nz
Cox Partners Mission and Core Values
Our Mission
Our Core Values
To provide the best real estate service in New
Zealand, based on the highest standard of ethics, Trust
values and client care. Our character and competence gains credibility and wins
In so doing, we will earn the loyalty and trust of the confidence of others.
home sellers and buyers who will become our We deliver on our commitments
lifelong clients and friends because we always
place their interests ahead of our own.
Responsibility
This is our mission. We will live up to it in
We are personally accountable for our actions and results.
everything we do. Our success will always be
measured by the happiness and the loyalty of our
clients.
Understanding
We are knowledgeable and well-informed.
We are lifelong learners.
Standards
We set standards and plan for excellence.
Our actions, results and are consistent.
We continuously strive to improve.
Truth
We are characterized by our honesty, integrity, fidelity and
ethical behaviour.
These values reflect our character
as individuals and as a team.
.
Licensed Agent, 259 Emerson Street, Napier. Phone (06) 835 4321 anytime.
www.coxpartners.co.nz support@coxpartners.co.nz
Agency roles
The success of Cox Partners Estate Agents has been built around an investment in people.
We work as a team to achieve the best results for our clients. Let’s meet the team:
Leader Malcolm Cox
The leader is most responsible for the ______________ of the business.
The quality of the agency is a direct ____________________ of the quality of the leader.
1. Set the mood and standards.
2. Find, develop and keep a winning team.
3. Ensure constant training and learning.
4. Move the team forward at all times.
Management Support Fiona Martin
Provide financial and management support to the leader.
Ensure the ________________ of the business
1. Install the financial components.
2. Maintain the administrative systems.
3. Handle legal and bureaucratic matters.
Sales Controller Kelvin Winnie
Lead the Sales Team by example and provide coaching and ______________
to help ensure Sales Partners achieve their targets and goals.
.
Licensed Agent, 259 Emerson Street, Napier. Phone (06) 835 4321 anytime.
www.coxpartners.co.nz support@coxpartners.co.nz
Agency roles
Sales Partners
We are looking for people who have the desire to be the ______________ , to be peak performers.
Sales Partner’s Duties
1. ______________________ 8. Negotiating and _____________ __________.
2. Assertively following up ______ ________________ 9. Causing cooking sales to become __________________________
3. Receiving enquiry from ____________________ _____________ 10. __________________ ______________ with feedback
4. Delivering _____________ ______________ 11. __________ to improve attitude and skills
__________________________ 12. Following a clear and simple ________
5. Turning overpriced listing into ________________ 13. Doing _______________ that take them in the direction of their
________________ present ____________
6. Receiving enquiry from _____________________ ____________ 14. Setting __________ and staying focused
7. ______________ __________ to quailified buyers 15. Reaching _______________ - and paying their way
Kelvin Peter Kendall Shelly
Licensed Agent, 259 Emerson Street, Napier. Phone (06) 835 4321 anytime.
www.coxpartners.co.nz support@coxpartners.co.nz
Agency roles
Home Finders Peter
This role is the prerequisite role to joining the Sales Team.
During this apprentice period you will:
• Develop your prospecting and communication skills
• Build your contact network, and continue your sales training
1. Locate sellers using the solo __________________ ________________.
2. Make ________________________ for members of the sales team.
3. ____________ on progress each week.
4. Stay ______________ on these tasks alone.
Sales Assistants Callum
Keep the sales team ________________ on sales.
Fulfil __________ which does not lead directly to sales results.
• Meet valuers • Meet building inspectors
• Deliver documents • Do pre-settlement inspections
• Cut keys • Erect and maintain signs
• Banking • Maintain the window display
• Back-up receptionist • Filing
• Take photos • Maintain office amenities
• Assist with advertising • Attend to anything that
• Keep the office tidy hinders sales targets
• Visit buyers once they move in
Sales Supporter Helen
Prepare, arrange and organise all paperwork and _______________________
duties for prospecting, listings, sales, agreements, and final settlement.
Be fully familiar of the details of the sales system and the hiring system.
Handle all incoming calls, and direct callers to correct team members.
.
Licensed Agent, 259 Emerson Street, Napier. Phone (06) 835 4321 anytime.
www.coxpartners.co.nz support@coxpartners.co.nz
21 winning qualities
1. The Client is Number 1 11. Hard Work on the Right Actions
Some experts call this Service Orientation. We see this Massive action provides massive results.
as being the only certain way to long term success and
prosperity for both our clients and ourselves. 12. Focusing on Results
All winners are superbly focused and adopt a program of
2. Presentation
almost “planned neglect” pm the minor tasks in order to
We look like winners. stay on the right course.
3. Striving to Improve 13. Developing Winning Habits
We constantly search for better ways to do things. Both success and failure are habits.
4. Reliable & Trustworthy 14. Persistence
We say what we mean and mean what we say. No matter how tough it gets we persist!
5. Courage 15. A Sense of Urgency
It takes courage to live up to your commitments. We act, The mantra if “DO IT NOW” forces us to do actions that
in spite of our fears. produce results.
6. Loyalty 16. Caring for people
We realise that to receive loyalty we must first give Caring comes from within and cannot be feigned for long.
loyalty. We never betray our clients, our colleagues or our It is only those who really care about people who can ever
agency. enjoy true success.
7. Personal Accountability 17. A Realistic Mental Attitude
We are totally responsible for ourselves and accept We are realistic enough to know that sometimes all will
responsibility for the fact that our past decisions and not be well, yet in the end we WILL win.
actions have created our present situation in life.
Accepting responsibility forces us to look at ourselves to 18. Superior Time Management
find solutions to any problems we encounter. We base our days around the important, and not the
8. Planning urgent.
Planning is a major priority. Good plans show us we are 19. Passionate Product & Personal Ability Belief
capable of almost any level of success, provided we
devote the time to planning and preparation, and then We love our profession and have a genuine passion for
follow through with our plans. our service. Real Estate is “in us”.
9. Written Goals 20. Lead a balanced life
Plans give you a clear look at how we can simply achieve Our personal and professional lives are in balance.
almost any goal we desire. 21. Gratitude
10. Enthusiasm Through gratitude we realise that we have everything we
Enthusiasm comes before success. Enthusiasm leads to need to success and see opportunity everywhere.
success.
Licensed Agent, 259 Emerson Street, Napier. Phone (06) 835 4321 anytime.
www.coxpartners.co.nz support@coxpartners.co.nz
The winning team
Winning standards What we give
A sales person who annually produces at least: 1. S______________
$______________ in gross fees to the office, On the contrary the commission only, system gives no security
and achieves more than ____ sides annually. and does not encourage loyalty.
Commission only systems are designed to cope with failure.
is __________________ and ________________
is constantly striving to ______________
2. Sense of p____________
We are striving to be the best agency in New Zealand.
You have a career path.
accepts total ______________________ for situations
is extremely ______________ focused
3. Sense of b________________
Nurtured by an open policy - there are no secrets from
likes and __________ his or her colleagues
team members.
is __________ to the leader and the team.
4. Financial & material r____________
Fair pay for fair effort.
The 4P is our Peak Performance Payment Plan.
Licensed Agent, 259 Emerson Street, Napier. Phone (06) 835 4321 anytime.
www.coxpartners.co.nz support@coxpartners.co.nz
Peak Performance Payment Plan
Contracts The person who listed the property receives 60% of the
dollars earned and the person who “sold” the property
Sales Team members are employed as independent
receives 40%.
contractors, which has tax benefits (tax deductible
The credits are granted at the point when the sale is
expenses such as car, home office, phone, etc).
unconditional. By crediting and paying salespeople
As an independent contractor you are required to register
at the point of the unconditional contract (rather than
for GST and should engage an accountant.
settlement), the focus is kept on creating sales.
Base income
Payment dates
The base income is paid to:
Base incomes (and salaries for support employees) are
• competent people who are highly trained, and
paid monthly on the last Thursday of every month or the
• who follow a series of actions that lead to results. 28th of the month – whichever is earlier (this applies to all
team members). This saves time.
Bonuses are paid quarterly at the end of the first week of
Base levels the new quarter. They are a cause for celebration!
Sales Partners must generate a base amount of revenue
in return for their base income. Once you reach the base,
you begin to receive bonuses.
Marketing levy
The base amount covers the raw expenses of the agency and
The Selling Fee includes a Marketing Levy of $1,400
the salesperson.
(which is about 10% of the average selling fee).
It is not a target, rather a qualifier to receive a bonus. The Marketing Levy is used to create more buyers, and
covers the genuine marketing costs the agency uses to
attract buyers for the property.
Targets
The target system has a series of levels. As you reach
each level, you will receive a larger share of the selling Call In’s (CI)
fees by way of a bonus. Any sale where the listing occurred as a result of the
seller contacting the office is known as a ‘Call In’ (CI).
An amount of 15% is deducted from the Gross Selling
Credits Fee. This amount is place in the CI account, which is
When a sale is made, the person who listed the property used to create more call-ins (whereas the Marketing Levy
and the person who ‘sold’ the property receive credit for creates more buyers).
the dollars earned. The CI account funds are mainly used for:
Licensed Agent, 259 Emerson Street, Napier. Phone (06) 835 4321 anytime.
www.coxpartners.co.nz support@coxpartners.co.nzPeak Performance Payment Plan (continued)
• Sales Assistants
Discounting of fees
• Ground Blitz Leaflets
We discourage discounting at all times.
• Direct Marketing
Any adjustment to selling fees must be authorised by the
• Other Marketing for Listings Leader or Sales Controller and then confirmed in writing.
Internal Referrals (IR) Poor performance
Any sale that results from a listing from a Home Finder Winning is the only option! If a team member fails to
lead is known as an ‘Internal Referral’ (IR). reach base in a quarter, one of two actions is available:
An amount of 20% is deducted from the Gross Selling Fee. re-train (our preferred option) or dismiss.
This amount is used to employ Home Finders.
Cars
External Referrals (ER) Sales Partners provide and maintain their own late-model,
Referrals for listings from other real estate agents outside our four-door cars from the base income and bonuses.
area are paid at the rate of 20% of the total fee at the point of
unconditional contract. This is to encourage more referrals.
When Sales Partners give a referral to another agency Mobile phone and computer
they receive a direct 50% of the income, as soon as the Sales Partners are given a phone and computer to use for
agency receive the referral fee. This encourages Sales company business. The company owns the computer, phone,
Partners to be alert for outward referrals. the phone number and pays reasonable monthly costs.
We do not pay referral fees for buyers. We expect Sales Partners to use their computer and phone in
their work to connect and stay in touch with team members,
clients and customers as often as required.
Conjunctional sales
A Conjunctional Sale is when another agent introduces a
buyer to one of the company’s listings. Rosters
In this unlikely scenario, the amount credited to the Our sales system focusses on results, not hours worked.
lister will be half of what would have been paid, had the
Our aim is for Sales Partners work five days per week,
property been sold by Cox Partners. This is because
11 months per year, so that team members lead a
conjunctions represent a loss of income to the agency.
balanced life. However, it may be necessary to work more
We discourage conjunctions. days, especially when getting yourself established.
Rosters are prepared quarterly.
Licensed Agent, 259 Emerson Street, Napier. Phone (06) 835 4321 anytime.
www.coxpartners.co.nz support@coxpartners.co.nzPeak Performance Payment Plan (continued)
Training and self-improvement
The continual training and education of the entire team is essential. If salesperson spend their own money on self-improvement,
they are seven times more likely to use the material they receive.
The investment in training is paid by the salesperson from their base income. The 4P system includes a training allowance.
In addition, we provide many opportunities for team members to improve their knowledge, skills and attitude through
education. We want our sales people to be hooked on learning and self‐improvement.
Quarterly team event
Each quarter, team members (and often their family) are invited to participate in a social activity.
New Sales Recruits (Studying and working as Home Finder)
Annual base income of $____________ This includes an annual training allowance of $3,000.
Your monthly gross pay is $4,333.33 plus GST with $250 paid to your training account.
In addition, the Home Finder is entitled to the following bonuses (which are paid quarterly):
a. Listing Bonus: $200 per listing lead listed (from the Home Finder’s lead).
b. Selling Bonus: $200 when a listing (that resulted from the Home Finder’s lead) is sold and becomes unconditional.
Sales Partners
Annual base income of $____________ This includes an annual training allowance of $5,400
Your monthly gross pay is $5,997 with $450 paid to your training account.
The base qualifier for bonuses $____________ per quarter.
The base is the break even for the office and the salesperson. It covers office expenses, the base income, support and assistance,
and other operating costs. ____________ ______________ occurs after base has been reached.
Bonusable dollars
Each sale creates bonusable dollars. The marketing levy, “CI” or “IR” or “ER” are NOT included in bonusable dollars.
Until a Sales Partner exceeds base ($52,000 per quarter) they have bought nothing into the business (i.e. there is no
profit for them or the agency). Sales Partners should “crack base” within the first six weeks of the quarter.
After achieving the base Sales Partners receive an increasing share of every bonusable dollar they produce.
Licensed Agent, 259 Emerson Street, Napier. Phone (06) 835 4321 anytime.
www.coxpartners.co.nz support@coxpartners.co.nzThe Peak Performance Payment Plan
Own listing
Gross Fee for Sale $20,000
Marketing Levy -$ 1,400 Bonus levels
Available $18,600 Between $52,001 & $65,000 ____ %
Apportionment of Bonusable Dollars Between $65,001 & $100,000 ____ %
Lister - 60% $11,160 Between $100,001 & $155,000 ____ %
Seller - 40% $ 7,440 Above $155,000 ____ %
Total Bonusable $ Credit $18,600
CI listing
Gross Fee for Sale $20,000
Marketing Levy -$ 1,400
$18,600
-$ 2,790
CI Levy @ 15%
Summary
Available $15,810
The 4P is a Financial Reward System that
Apportionment of Bonusable Dollars offers Sales Partners an excellent guaranteed
Lister - 60% $ 9,486 income and the opportunity to earn significant
Seller - 40% $ 6,324 bonuses.
Total Bonusable $ Credit $15,810 Our first priority for new people is to get them to
reach the qualifying base, then increase their skill
levels from the base.
IR or ER listing Our expectation is that after their first year, Sales
Gross Fee for Sale $20,000 Partners will at least double their base income.
Marketing Levy -$ 1,400 This system does not suit mediocre performers.
$18,600 Our sales people are amongst the highest paid in
IR Levy @ 20% -$ 3,720 New Zealand.
Available $14,880
Apportionment of Bonusable Dollars
Lister - 60% $ 8,928
Seller - 40% $ 5,952
Total Bonusable $ Credit $14,880
Licensed Agent, 259 Emerson Street, Napier. Phone (06) 835 4321 anytime.
www.coxpartners.co.nz support@coxpartners.co.nzThe Hiring System
4 Foundation selection rules
1. Character
Personal Character – will we be proud to be associated with this person?
Career Character – does this person have the personality to succeed under our system?
2. Own real estate
Having the experience of owning real estate enhances the ability to create empathy which is essential in the
developing the ability to win trust.
We want people selling a service they have used before.
3. ____ past experience selling real estate
We can teach our way.
4. Stability
We are looking for strong evidence to stability in some aspect of a candidate’s life.
• Career – people who have been in their present jobs for more than five years
and who have progressed are likely to be suitable.
• Residence – people who have not been five years in the same job but have lived five years at one address (in their
own home) may also be suitable. This indicates they are security conscious with perhaps a desire to improve their
career.
• Personal – people who have been in the same personal situation for five or more years, but have changed jobs and
homes may also be suitable
• We do not want people who just want the base income instead of the career.
Licensed Agent, 259 Emerson Street, Napier. Phone (06) 835 4321 anytime.
www.coxpartners.co.nz support@coxpartners.co.nz18 stages of the Hiring System
Enquiry Stages Responsibility
Stage 1 Call - In Hiring Secretary
Stage 2 Review Applicant Information Leader
Stage 3 Phone Conversation Leader
Tell Stages Responsibility
Stage 4 First Interview (20 minutes) Leader
Stage 5 Briefing Session (2 hours) Leader
Stage 6 Meet the Team Members (90 minutes) Leader
Test Stages Responsibility
Stage 7 DISC Profile Pittard Group
Stage 8 Work Experience (4 days) Leader
Stage 9 Foundations Session Pittard Group
Train Stages Responsibility
Stage 10 National Certificate in Real Estate - Salesperson (12 weeks) Skills
Stage 11 Winning Ways Study (20 hours) Leader
Stage 12 Winning Ways Tests Leader
Trial Stages Responsibility
Stage 13 Start-Up Strategy Leader
Stage 14 Practical Training and Trialling Leader
Stage 15 End of Trial Exam Leader
Stage 16 Seller Presentation to Team Leader
Stage 17 Transition to Sales Team Leader
Sales Partners Responsibility
Stage 18 Continuing Personal and Professional Growth Sales Partner
Licensed Agent, 259 Emerson Street, Napier. Phone (06) 835 4321 anytime.
www.coxpartners.co.nz support@coxpartners.co.nzLicensed Agent, 259 Emerson Street, Napier. Phone (06) 835 4321 anytime. www.coxpartners.co.nz support@coxpartners.co.nz
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