Ray White NSW & ACT creates high performance culture

More than 700 agents gathered at the Sydney Cricket Ground today to kick off the real estate year with the theme of creating a high performance culture.

Ray White NSW & ACT CEO Tim Snell (pictured below) opened the day with an important question, “are we building a strong foundation and preparing for the changes ahead?”

"Signalling is something we all do, either intentionally or unintentionally. Whether it’s showing up on time or how we make people feel, it reflects what’s important to us,” Mr Snell said.

"We must be leaders creating leaders. We can’t become complacent in what we stand for or what we signal. Instead, we need to challenge ourselves by listening to what our customers want.

"We must attract the best, develop the next generation and support our people to grow.”

"Let’s take a moment to celebrate - we are number one in 19 of 29 regions in New South Wales. Year-on-year, we’ve experienced our fastest ever growth in market share. It proves that what we stand for and what we do matters.”

"Ray White has been around for 123 years, and while things have changed, the more they stay the same. Our role has evolved, but our core values remain. Without accountability there can be no results.”

Ray White NSW|ACT has partnered with the Sydney Swans AFL club to create a high performance partnership between the two top organisations. The partnership will see Ray White host key events at the Sydney Swans HQ, including a high-performance kick-off event, an emerging leaders’ program, training night, and franchisee events – all designed to engage and inspire its people.

Swans’ chief operating officer Drew Arthurson (pictured above) spoke about their goals as a top performing AFL club. He broke down several of the fundamental characteristics he believed built high-performance culture and businesses.

"Doing your life’s best work - this applies to every single person in our organisation. Our expectation is that every member is a leader, that they hold each other to account, and that they set higher standards. You have a choice today,” he said.

"We have the choice to aim to be the number one organisation in football. You have the choice to be the number one organisation in real estate.

"The challenge we set for ourselves as an organisation is to get incrementally better each day. We ask everyone to make small improvements before they go to bed. We ask everyone to reflect on the ways in which they can improve. For example, I ask myself three questions: did I learn something new, am I healthier in some way, and did I help someone without expecting anything in return?

"Tribe. It’s the people you depend on. Remember, the competition is outside, not within.

"Trademark. Establish a trademark - what are you known for? What will define you?

"Trust levels. One defining characteristic of every elite person I’ve worked with is humility. Think about how you approach your work, do you listen more than you speak?"

"Mission clarity. This is an entry-level expectation of a leader. If you don’t have it, you have

the right to talk to your leader and get that clarity.

“Coaching and feedback. High performing teams have well established feedback loops.”

Ray White chief economist Nerida Conisbee (pictured above) gave an optimistic assessment of the year ahead, given it was “almost certain there will be a rate cut this month”.

“Last year we had a lot of listings as people came to the market and prices slowed but things are very different in January. Listings are low and we are now expecting a distinct shift in interest rates,” she said.

“The inflation data pushed down last month and the unemployment rate has crept up to 4 per cent. The economy is weakening quickly and the RBA is likely to move faster and markets are pricing in a 95 per cent chance of a cut later this month. It’s never guaranteed but it is looking fairly certain and in fact we’ll see at least another four cuts this year. The outlook can change very quickly though as data comes in, nothing is locked in.”

Neoval data shows Sydney house prices slowed 3.7 per cent year on year to a $1.584 million mean price, while units eased 2.4 per cent to $882,000.

“Everywhere is still slowing across New South Wales, while Perth, Adelaide, South East Queensland are growing. Sydney is the strongest of the weaker markets. Sydney is the most sensitive to a rate cut, as historically its house prices do usually react the most to changes in rates.”

Ms Conisbee said the fact still remains there were still too few houses being built. “There are still big problems in the construction industry, and more people are living alone but we don't have enough small homes.”

Ray White NSW & ACT Head of Auctions, Perry Edmondson-Clark facilitated a panel with Matt Bolin of Ray White Upper North Shore and Lucia Marzano of Ray White Canberra. These two agents have some of the best net promoter scores, and customer experience is the key. Repeat business and keeping the customer at the heart of every transaction is what makes the difference. “ Your reputation is everything,” Matt Bolin said.

Ray White Group Head of Marketing, Todd Alexander spoke about the group’s cutting edge proptech tool NurtureCloud, the group’s AFL partnerships across Australia and its luxury positioning. Ray White sells 2.5 times more luxury property over $5 million than any other group in Australia.

“This April we are introducing NurtureCloud to the world with a consumer facing campaign. Get ready, because we are so proud of this tool that nobody else has. So we are doing things differently this year,” he said. “If we have better leaders, we get better people, and ultimately have better businesses. We can learn more from our failures than our successes.”