What does the term “creating an attraction business” really mean?

It’s a phrase that has gained popularity over recent years in our industry and one that is touted by real estate coaches and trainers far and wide. But what does an attraction business actually mean?  

We asked three people at very different stages of their career to answer that very question and, through the responses we gathered, one thing became abundantly clear: the meaning of ‘attraction’ is in the eye of the beholder.

Peter Hanscomb, CEO of Belle Property 

After more than 30 years of developing highly profitable franchise structures, Peter puts it simply: “Everybody wants to be around successful people because if they are surrounded by success, they believe they will become more successful by the association. That’s fundamentally what it comes down to,” he said. 

Andrew Robinson, Senior BDM and Chief Auctioneer

From real estate sales to auctioneering and business development, Andrew has done it all. To him, an attraction business isn’t a term that exclusively refers to an office, but should drill down to each individual within that business. 

“All of a sudden you aren’t doing business the way you’ve done it in the past. People know who you are; they trust you, like you, respect you and they know you deliver results. In other words, you’re no longer prospecting for business; business is coming to you.”

Brendan Pomponio, Principal of Belle Property Dee Why

The ultimate professional, Brendan leads Belle Property’s number one business – or should we say, he’s grown the number one business. To top it off, he remains a top performing agent in his own right. From where he’s standing, there are two clear perspectives.   

“When I hear those words I think of reputation, trust and loyalty. For my agents, I think of them becoming the go-to person; a living room name and a trusted adviser. 

“From a business perspective, It’s about creating a brand - and the values that lie behind it - that people want to associate their future with. It’s like buying a Louis Vuitton bag, you hold onto it forever. That kind of loyalty comes from creating an attraction business.”