Today’s ON THE SPOT with Emil Juresic features Tom Panos – Australasia’s number one real estate coach, who shared his insights on how to climb the real estate mountain.
Watch the interview to hear all about Tom’s journey as a coach and mentor, the most important lessons he has learnt along the way and his best tips for young agents fresh in the industry!
Tom says that during his 53-year life, he has learnt that it’s crucial to make the difference between the people who are passionate and the people who are smart.
“People can be far more intelligent than you but if they don’t actually have something that’s driving them, they’re never actually going to do anything, so you always hire people on character and not IQ,” he explains.
Curiosity is another factor that seems to be a huge help on the road to success, and Tom says that many of the most successful people he has met, have been extremely curious in nature, including Australia’s number one agent Josh Tesolin, who was ON THE SPOT earlier this month and who Tom has taken under his wing since Josh started in the industry.
Tom emphasises the importance of learning as much as you can throughout life, but especially when first starting out in one’s career.
“Don’t worry about money at 21, worry about knowledge. Become the Google of your marketplace,” he says.
Knowing how people think and understanding their actions is critical in real estate industry, so Tom says that studying behavioural sciences and psychology goes a long way when aiming to become an agent.
Watch the whole interview to hear the rest of Tom’s best tips for young agents, who are just about to start out in the industry!
According to Tom, it is important not to get too attached to the good and bad times, or as he describes them, ‘valleys and mountains’.
“Don’t get attached to the valley or to the mountain, because they keep happening. Good or bad – it’s all temporary, it’s not staying like that,” he reminds.
In order to get through the ‘valleys’ and keep your energy levels high even during the tough times, you have to focus on training your mind instead of numbing it.
“I want to feel the pain, I want to feel the suffering, and the reason why is that is what makes you mentally tough.”
After beating cancer, Tom says he is not afraid of anything anymore. He tells that he was scared for his family if something was to happen to him, but now when he has secured them financially, he doesn’t have to worry about that anymore.
“I’m not scared of anything. Every day from now on, every day till the pulse stops – is all bonus stuff for me. I’ve got nothing to lose,” he says.
When you’re mentally tough, when you don’t feel like a victim, when you can handle rejection, when you actually feel like ‘hey, I’m blessed’ – anything is possible.Tom Panos
Being through everything Tom has, and seeing and experiencing pretty much all there is in the real estate industry, he can honestly say he is practicing what he preaches, and he believes that it is one of the biggest reasons why he has gained respect amongst the people in the industry.
“I’m not a textbook trainer that’s full of fluff. I know the feeling and I think people can relate to it. I don’t talk fluff – they know if I say ‘do this’, I’ve done it,” he says.
COVID-19 has brought challenges to the real estate industry, and Tom admits being concerned about city office space and the retail sector, especially now that the transition from ‘brick to click’ is fast-forwarded.
He says, however, that people now, more than ever care about anything that has to do with houses, and his own business has been booming as people who DO talk fluff are dropping out of the market.
“What we’re going to see is the exposure of fakes – people that were sort of talking the talk, they’re disappearing left right and centre,” Tom says.
Tom sees life as two big mountains, and he explains this metaphor meaning that on your younger years, you have to climb the first mountain, which is all about achievement and stabilising your financials.
“Get money, collect items,” he says.
“What happens when you get to the top of that mountain, you think to yourself: what else? The second mountain moves away from ambition, and it moves to meaning,”
Tom explains that the second mountain is about significance, legacy, and people. He says it makes him proud and happy when he sees that people he has coached, have succeeded in what they do.
“Like being at the RateMyAgent awards and having every person go up there and say ‘I want to thank my coach Panos’ – they’re the things that matter to you,” he explains.