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Got a minute? If you're a busy manager, that's about all you have. That's why Carla Cross, management coach, speaker, and author, has created this blog just for you, with ready-to-use tips to master management through people.
Jan
17

Change Leaders Do These Three Things to Impact the Industry

By

This January, I’m featuring the topic ‘leadership’. Why? Because it’s one of the biggest real estate industry trends (and probably world trends) of 2012 and beyond. Look for leadership strategies and trends (not just in the real estate industry), plus ready-to-use documents to go from ‘maintenance management’ to leadership. And, check out my complimentary webinar on Jan. 30 on leadership, trends, and what you should do about it! See more at the end of this blog.

Check at the end of these blogs for those ready-to-use documents and checklists to put these ideas to work.

Look Outside our Industry for Leadership Examples

No one in the real estate industry would argue that we’re in turbulent, changing times. In this climate, many real estate owners and managers are looking to others inside the industry for the “answers”. Unfortunately, in times of great change, this may not be the best place to look for smart business moves that ensure a bright future. Instead, it may be more valuable to look outside our industry for adaptable strategies. Not only  must we look for these strategies, we must identify the kind of leaders who have the personal initiative, commitment, and courage to lead the change–and, perhaps in some cases, the charge.

The leaders, the strategies, and the real estate examples. I decided to do just that–look outside the industry for leadership examples. I found several commonalities. Then, I related these leadership actions to real estate and found examples of that leadership in the industry.

Proven ‘Change Leadership’ Strategies

Here are three of the most important strategies that are assuring long-term profitability–and stability–in businesses. These strategies solve many of the critical problems in our industry, including low customer satisfaction levels, management disillusionment, and lack of common focus. Bottom line, these strategies have been proven to deliver long-term, unassailable profits through change:

            1. Leading from your vision.Businesses today have found that It’s not enough to strive only for profits. Today, to be profitable, the values of the firm and its real purpose must guide business decisions. According to a recent   study, firms who had a firmly company-held vision earned twelve times the profits of other companies! (Nordstrom was one). This means, for many real estate companies, it’s time to look at the behaviors of the “team” members and ask whether these behaviors reflect the values the firm says it has.

Disparities? If there’s a difference between stated values and real behaviors, change leaders must have the fortitude (that’s guts, in real language) to do something about it. Why? Leading with your values allows a company to project the kind of image the consumer trusts–and the agent values most highly. That’s money in the bank for recruitment and customer retention.  

The new book, Game Plan: How Real Estate Professionals Can Thrive in Uncertain Times  , names leadership as one of the huge trends for 2012 and beyond. The authors, Ian Morris and Steve Murray, urge real estate leadership to lead from vision–from their recruiting to their retention practices.                                                             

            2. Getting everyone in the firm “into management.” Businesses internationally are switching their management styles from autocratic to participative. They know that, with the radically-different profile of today’s worker, the old “my way or the highway” just doesn’t work (and neither does the ‘leave them alone’ school). The most successful businesses have created structures to share accountability and rewards. Real estate companies have been struggling with adversarial relationships which result in a tug-a-war on commission dollars. The answer lies in mutual accountability and sharing the management decisions. When all involved are focused on mutual goals, everyone profits. Change leaders must be willing to go through the challenging process of a management paradigm switch–from autocratic to participative. The pay-offs are in the ability to recruit real winners, and retain proven producers.

            3. Marketing paradigm switch: From getting new business to keeping old business. Businesses internationally have discovered that chasing new business is a way to spend money they don’t have. To maximize marketing dollars, they’ve developed programs to keep the customer enthusiastically happy for a long-term, mutually-productive relationships. Real estate agencies  need to switch their emphasis from getting, getting, getting, to keeping, keeping, keeping. This means more mutual profits, better customer satisfaction, and a more pleasant consumer-agent relationship.

We Realtors wish our theme song were “On A Clear Day, You Can See Forever”. In truth, our approach today must be closer to “Whole Lotta Shakin’ Goin’ On”. Applying change leadership in this turbulent, “shakin'” climate while adapting proven innovative strategies to our business assures we lead the industry through change with confidence and success.

Want to know more about change leadership? See this blog.

Do you have the attributes and actions of a ‘change leader’? Take the questionnaire I created for you. Click here.

Complimentary Leadership/Management Webinar

Join me on Jan. 30, from 1-2 PM PST for Leverage the Top Trends for Profits in 2012.  We will explore the top real estate business trends for 2012 and beyond–and I will provide you specific strategies to not only manage to those trends, but to thrive because of them. This is a complimentary webinar. Space is limited, so register today.

Jan. 30

Time: 1-2 PM PST

To register:  https://www3.gotomeeting.com/register/306755846

 

 

 

 

 

 

Comments

  1. […]  In an earlier post, I talked about the 3 things change leaders do to impact the industry. See how you stack up here. […]

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