5 May 2009

In-house training pays off for Queanbeyan/Jerrabomberra office

It has been a bumper quarter for Raine & Horne Queanbeyan/Jerrabomberra, with the office bucking the wider real estate slowdown to achieve the best sales value result in 15 years.

Nine million dollars worth of property changed hands in Q1 2009, with Raine & Horne associate Tim Stafford alone achieving more than $4.5 million of sales.

Historically Queanbeyan has enjoyed a buoyant property market where demand has tended to outstrip supply.

Kent Lardner from PriceFinder (formally PDS Live), said the median house price in Queanbeyan had jumped considerably from $350,000 in the last quarter 2008 to $370,000 in the first quarter 2009, with sales volumes increasing by 14 per cent from the same period last year.

However these figures were not just the result of market forces. According to Raine & Horne's Tim Stafford, this huge first-quarter result must also be attributed to savvy business practices.

Six months ago proprietor Michael Mallon took a proactive approach to recession-proofing his business by introducing twice weekly in-house coaching sessions for sales and property management staff.

Mr Mallon recognised the importance of educating staff to cope with a changed environment and to "develop staff ahead of the average".

"We are trying to achieve a consistent level of skills, partly in response to the economic slowdown," Mr Mallon said.

It was generally recognised that providing a quality service to clients and adapting to their changing needs in volatile times was essential to maintaining strong business growth.

Peter Bembrick, a partner with accounting firm HLB Mann Judd Sydney, agreed that "being a trusted adviser" was imperative in difficult economic times.

"In times of economic downturn, it's important to be close to clients and develop long term relationships. It's all about understanding a client's situation so that you know how best you can help solve their issues," Mr Bembrick said.

Mr Stafford said initially some of the team at Raine & Horne, Queanbeyan office were apprehensive about the regular training sessions but once they soon discovered huge benefits.

"We were taught how to connect with people and understand their reason for selling and what it is they need in their life. If you link the sale of a property to the vendor's actual needs you can achieve theresult they are after," Mr Stafford said.

"What we do is results-driven and that often means making adjustments to attract more people to that particular property.

Since the implementation of expert training, the day-to-day culture at Raine & Horne Queanbeyan had shifted for the better and staff npw had firm, achievable goals.

"Each person in the office has to nominate a daily objective which is written on a huge white board. It might be closing a sale, listing a property, reviewing a client's strategy or an exchange of contracts. Whatever each person nominates must get a result by the end of the day. What it means is that now each individual is accountable not only to themselves but to each other, which is great," said MrStafford.

For all your property needs contact Raine & Horne Queanbeyan (02) 6299 4333.

Raine & Horne is an iconic Australian property firm, with more than 400 offices worldwide. Also an established Superbrand along with the likes of Qantas,Vegemite, Woolworths and Myer, the company has four distinct property service brands including Raine & Horne Residential, Raine & Horne Commercial, Raine & Horne Financial Services and Raine & Horne Rural.

For further media information contact Michael Mallon Raine & Horne Queanbeyan on 0412 627 953, Peter Bembrick, Partner HLB Mann Judd Sydney, on (02) 9020 4223, or Alana Drivas, Raine & Horne Marketing Communications Coordinator, on (02) 9258 5448.