The role of the sales and letting agent has definitely had its ups and downs over the last decade. We are all already aware that this line of work isn’t for the faint-hearted. Letting agents have to be versatile, strong-minded, and thick-skinned to reach high-level success. We strongly believe, with the right guidance, attitude, and support that this success is up for the taking.
Paul Kearton, of Silverkey Property, stood in the face of adversity and decided to take control of his business. No longer do agents need to struggle or lose the buzz of the letting industry. Paul seized opportunity and growth with both hands, finally restoring the passion that he once had for his business.
Silverkey Property is Born!
Paul first began the business in early 2014, with the aim of building an independent business from scratch. Silverkey Property had experienced a few teething problems, as any new business would encounter. This included difficulties in sourcing landlords and setting a management fee that actually represented his worth. Paul became overworked, earning a passive income of £55 per month, that wasn’t really passive at all. Doing all that he could for his landlord for the not-so-grand sum of a 9% management fee, with no added extras; Paul added more new clients to his listings. Though his incredible efforts, he achieved management of 33 properties by 2015, navigating the ups and downs of the industry on his own.
Just as things began to look optimistic, Silverkey Property came to a halt. Paul had sadly discovered that his father had fallen ill with both dementia and cancer. Falling away from the business, he lovingly supported his family during their time of need. For three years, Paul devoted his time, care, and attention towards his family. Days away from the passing of his father, Paul had come to the realisation that both his family and business were struggling financially. He had lost nine of his managed portfolio and financial and emotional stress loomed over his family. This equated to two-thirds of lost business, after so much effort exerted in the first year of Silverkey Property – lost to tragic misfortune. Seeing no-way-out Paul said, “I couldn’t see a way to build the business fast enough to keep us financially stable”.
Finding the Positive from the Negative
With the looming tenant fee ban of 2019, the chances of business survival seemed close to impossible. After years of putting his customers and his family ahead of his own needs, Paul had been drained of his entrepreneurial passion and determination. The tenant fee ban only added to the lows of Silverkey Property’s journey. A win was definitely needed for Paul after years of prioritising the needs of others.
In March 2018, Paul researched the tenant fee ban, coming across an advert explaining how to overcome this added obstacle. Agents, just like Paul, already had enough to contend with within the letting industry. After seeing the advert (and a gentle nudge from his other half), Paul booked onto the one-day workshop in April 2018. Within one day after attending, he began to confidently make changes to his business structure. Paul was on his way to changing his business for the better.
Increasing his management fees by 2%, restructuring his fees, and recognising his worth as a letting agent, Paul began to see results. Implementing his knowledge gained from the training, he had developed newfound confidence. Tragedy struck again, after six days after deciding to make these positive changes, Paul’s father had sadly passed away. Again, the business was put on hold. It seemed to be a constant struggle between managing the business and supporting the family. Positivity seemed distant as Paul came to the realisation that his lack of confidence stemmed from a lack of belief in his success.
Investing in Yourself
Understanding that he had the tools and intelligence to grow, Paul said, “I just needed someone to show me the way”. As a self-employed business owner, a sense of community was needed where Paul could have access to powerful knowledge and support. After attending a four-day course with Agent Rainmaker and ‘Agent Rainmaker Live’ [hyperlink courses], Paul unlocked the secrets to ultimate business growth through the power of community.
“Since being a part of this incredible community, and attending my first Agent Rainmaker Seminar in April 2018, my business has evolved into something that I am proud to be in control of.”
Silverkey Property has achieved exponential growth, multiplying by 12 in overall profits. Paul has successfully 88% of leads to fully managed at an 11% management fee! Expanding into block management growth further by 700% and quadrupling managed properties, Paul’s well-deserved win as a self-employed business owner has finally arrived. Paul has developed skills within customer relations management digitally, increasing profits and organisational abilities.
“The last Agent Rainmaker seminar I attended, I met many people who were where I was just two years ago. I was asked if I was an actor set up to be the advocate for AR. “
Paul adapted his style of sales, using Sally Lawson’s Rant Method, fitting it specifically to his individual clients. At first, this method took practice in his approach. But, from this Paul developed versatility in sales. He has successfully learned a new customer relations tactic that will allow him to influence his clients with greater effect!
A Bright Future
“I am still a one-man operation, but I am no longer a depressed business owner.”
Paul has finally created a business of longevity and infinite growth. We are pleased to say that Paul will be moving Silverkey Property to the high street within the next 12 months! Paul knows exactly where he wants to go. Smartly investing in only places and activities that will benefit his growth, Paul aims to venture into sales and block management further.
Less on the business side of things! This new perspective and business restructure has given Paul more time to spend on the most important part of his life.
“Over the last 6 months, I have started to outsource inventories and viewings, and have spent the free time with the better half and my daughter at home”
Reaping the Rewards
We’re incredibly proud of Paul’s perseverance and strength as a fellow agent! He has announced that he recently booked a generous reward for himself and his family. We hope that you have a fantastic holiday in the Maldives next year Paul, you deserve it!
From The Agent Rainmaker Team
Who are we?
Our coaching and development organisation, prides itself on building a cohesive and positive community network of letting agents and property professionals. Giving letting professionals the encouragement, support, and knowledge to transform aspirations into reality is Agent Rainmaker’s core mission!
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