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Sydney-based Michael Clarke spent the first decade of his career following a rigorous prospecting plan, which catapulted him to the top of the ladder in real estate.
The co-founder and director of Clarke & Humel has mused that after working for two decades as a real estate agent, he is no longer consumed by his sales figures.
Nevertheless, his figures are noteworthy, having emerged as the number two agent in the REB Top 100 Agents (for the eighth consecutive year) and Top 50 Agents NSW 2024 rankings.
Clarke – who largely sells detached dwellings in Manly for an average price of over $4 million – sold over 200 properties during the 2023 calendar year for $814.5 million (up 5.6 per cent year-on-year).
He attributed his results to laying a strong foundation at the beginning of his real estate career by prospecting consistently. This, he added, has provided him more freedom now to focus on building his team and increasing dollar productivity.
As a new agent, Clarke would make between 130 to 140 cold calls every week before completing meeting prospective vendors and obtaining market appraisals.
“With each of my precious appraisals, I knew I couldn’t outperform anyone on strategy or experience, but I could outperform everyone on enthusiasm and maniacal follow up. So, that’s what I did,” Clarke told REB.
“I had the philosophy that no one would outwork me in my preparation for an appraisal or listing. I aimed to do as many market appraisals as I could. I figured that would put me in a position at some stage where the penny would drop and someone, somewhere selling their home would consider calling me.”
Mentors also played a crucial role in Clarke’s success early in his career, with one agent advising him early in his career to access a former agent’s open home inspection book to seek potential vendors.
“Around four or five out of 10 prospective buyers that go through an open home are there to research selling. My mentor told me to speak to them,” he said.
“The agents who mentored me many years ago in the company I worked for were generous with their time once they realised that I would be respectful of their time. They took joy in seeing my success because they saw that I was implementing their teachings.”
Clarke sold the majority of properties via auctions in 2023 as they are more likely to garner the highest price for his vendors, he said.
“If the best way to maximise the sale price for my owners is for me to be at a lemonade stand and flick around a sign, I’d do that,” Clarke remarked.
“At the moment, the best way to achieve the highest sale price is through auctions. The momentum I achieve through that gives me the ability to sell off-market as well.”
Alongside this, Clarke attributed his success to his wife and Clarke & Humel CEO and principal, Cherie Humel, as well as his team, who he said are focused on achieving the agency’s goals in the short, medium and long term.
“Nobody in real estate could achieve any measure of success without working productively in a team,” he asserted.
“No one person can prospect, list, sell and do the pipeline management, administrative, marketing and social media work without the incredible support of a high-functioning team.”
As for how new agents could replicate his track record, Clarke insisted that they must adopt a long-term approach of at least four or five years instead of expecting success overnight.
“John McGrath (founder of McGrath Estate Agents) said people overestimate what they can achieve in one year and underestimate what they can achieve in five. Young agents must understand this,” he said.
“In the days of social media, I think there’s too much emphasis on becoming superstars of GCI within the first 12 to 18 months. That’s rubbish.”
Instead, Clarke urged agents to become consistent with their activities, including prospecting, conducting market appraisals and listing properties.
“The results will follow the activity,” he concluded.
Click here to view the REB Top 100 Agents 2024, and here to view the Top 50 Agents NSW 2024 ranking and report.
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