Every Real Estate agency business owner has vision, that clear picture of what success looks and feels like. You're expecting to work hard, but you're also expecting to be rewarded, with a good income and lifestyle, whilst doing work that you are often already good at and enjoy. Business with MILES is about matching that vision to the way you run your business.If income is your priority, that's where we'll focus. If having time to enjoy what you already have is most important, then the approach will be slightly different. If you're simply spending too much time doing things you hate and not enough time doing the work you enjoy, then the approach will be different again.Priorities change over time, and success is often defined by the best personal balance between income, lifestyle and enjoying what you do. Business with MILES exists to help you make the changes in your agency which will give you more of what you want. We did the hard yards; we allow our clients to benefit from them!
Comments from our clients
MICHAEL AND FRAN’S REAL ESTATE AGENCY CAREERS
Michael and Fran Mallon started their business careers in 1994 as real estate agency owners in partnership with another couple. Michael and Fran had a young family and were only 24 years old at the time.
Upon conducting a review after 4 years of owning the real estate agency, it was evident the business was surviving rather than thriving. In addition, the partners were producing the vast majority of the income into the agency, and they had very little free time. The partners realised that to succeed in, and grow their business, they needed to increase their business management skills, improve their cash flow, and streamline their systems. They focused their attention on self-education, through attending workshops and seminars, reading as much information as possible and most importantly learning from the mistakes and successes of other thriving businesses. In 2004, Michael and Fran purchased their partners’ share of the business. They continued to develop strategies and systems to make the agency even more successful for the next 6 years. The reward for their effort saw this fledgling business from 1998 to 2010:
- Grow from 5 to 22 staff
- Increase its turnover nearly twentyfold
- Merge with a smaller agency which brought on a successful minority shareholder
- Increase their office’s ranking within its national network from 184th to be consistently in the top 10 for the final seven years of ownership
- Achieve a ‘repeat and referral business’ rate exceeding 80% in later years - well exceeding the industry ‘goal’ rate of 65%; and
- become the recipient of numerous coveted industry Awards for Excellence and local business awards
On three separate occasions during 2010 Michael was approached by a business agent on behalf of a party wanting to purchase the business. Michael and Fran had no intention of selling, and on each occasion declined the offer. However, after being approached a fourth time and being offered a figure that they considered to be well above the market value at the time, Michael and Fran decided that being financially independent, being able to travel, and being able to take their accumulated knowledge and move in a new career direction was a great reward for all their effort over the years, and so the business was sold.
On returning from five months travelling around Australia in 2011, Michael and Fran started their consultancy business, Business with MILES, to assist clients to grow their real estate agency businesses, increase their profits and enjoy real success in their industry. Many of the business’ clients have become the fastest growing, most profitable, and highly regarded real estate agencies in their areas. For three years, Fran also established and operated a successful boutique tour business in the Canberra region. Fran sold that business in 2016 to focus on working full-time with Michael in Business with MILES.
Michael and Fran continued to focus on their personal development, and in recent years both have become accredited Trainers and Assessors, attended and conducted many management and sales courses, and have extended their coaching qualifications. Michael and Fran are aware that most people go into business to achieve financial success and to enjoy a better lifestyle. They also understand only too well that what people often find is stress, long hours and dissatisfaction. Michael and Fran have more than 20 years’ experience in business development, research, implementation and overcoming their own business challenges. They now offer you their expertise, experience, coaching and training skills, to confidently work with you to help you quickly and systematically grow your business and achieve your goals.
Knowing what they now know, Michael and Fran are confident they could now achieve the same success in their original real estate agency business, in the same circumstances, in a far shorter time frame. They are now assisting other real estate agency owners, and their teams, to achieve rapid success by providing those agency owners with assistance across the areas outlined in this booklet.
The name "Business with MILES" reflects what Michael and Fran believe all real estate agency owners should be seeking: Business with More Income, Lifestyle, Enjoyment & Success!