Ask for what you want, this is the best way to true collaboration
Name of business: Premium Price Consultants (PPC) and London Multilist (LM)
Creators: Rick and Sandra Tooley
Years in business: 22
Specialty: Property – achieving tomorrow’s value today
Key to success: Give all your ideas away, but charge for implementation
Biggest challenge: Realising that the product is 30%, maybe 25% of your success, the rest is strategy and route to market
Greatest asset: Business partner & IP
We meet at a café in central London. Rick is a relaxed gentleman with a melodic New Zealand accent. He laughs often and tells great stories, but he’s dead serious about the business. Premium Price consultantsand London Multilist steadily increase their share of the British real estate market, because their owners support their products with a defied strategy based on cooperation.
“The quality of your life will be in direct proportion to the questions you ask” (Tony Robbins)
Having a great product helps achieve commercial success, but it does not give a guarantee. If you do not know how to achieve a proper price, when and where to market your goods, you are setting yourself up for a failure. A house is a product and it should be marketed as such. It helps when you have proper systems in place. Rick knows that – he and his team teach them to other estate agents (even former competitors). This strategy turns their competitors into collaborators. Clients benefit, because they have more agents working for them; estate agents win, because they have more properties to sell and better marketing strategies to use; Thanks to that PPC and LM continually reinforce their position on the market.
“If you offer more, you can get more.” – Rick Tooley
But you have to be clever about it. The key to success is to be confident to give your ideas away but to charge for implementation. This makes you stand out, because you no longer compete on price (which is a very risky strategy, as you have to have volume to survive and it usually turns out quite hard to achieve). Rick’s strategy makes you sell your brand rather than price. You sell value. You get yourself known, build up your assets and confidently operate on the market.
Why Rick is my brand hero?
The team led by Rick has a clear vision of how the industry can be improved and they do it in such a way that it benefits not only them, but clients and their former competitors (I say former, because they effectively become their business partners). By realising their vision they are introducing a new quality to how the business in this niche is being done. They do not shy away from modern means of communication but face-to-face contact with clients is still a very important part of this business. In addition, Rick is still involved in the day-to-day so he does not lose touch with reality.
My lesson from PPC and ML:
– no strategy will tell you if you have a good product or not
– good strategy is necessary to get your product out there
– constant self-development is necessary to staying on top of trends but you need to choose techniques that fit to your business
Further reading from Rick:
Oversubscribed, by Daniel Priestley
Elements of a strong brand:
having a plan
brand is in strategy and product
giving value and making sure you receive value as well
Find out more about Premium Price Consultants and London Multilist:
– Rick’s LinkedIn profile