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Jan
03

Is the Real Estate Business an ‘Independent’ or Dependent Business?

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Perhaps you went into real estate because you wanted to be independent. You wanted to be your own boss–name your own hours–work at your own speed. You’re probably hiring agents right now with the same reasons for going into real estate. Not so fast! Even though real estate is considered to be a career where ‘you’re in business for yourself”, taking that thought too far can result in failure: Failure for both you as a manager and your agents. A�

Why? Because there are many skills required in this business that people new to it just don’t have. Yet,A�we help them believe that all they have to do is to start in this business and go to our training. They will be successful. Then, when they start failing, they can’t figure out why. In this blog I’ll name 3 qualities and skills your agents need to develop fast. My question to you is: How are you going to help them develop them?

Skill # 1; Time management

Most people go into real estate from a field that required them to show up on time, do specific work, and work for at least eight hours. If they didn’t fulfil the minimum requirements of the job, they were fired. Understandably, many people don’t like to work under those strictures. So, they go into real estate where they can name their own hours, work at their own speed, etc. etc. The problem is, with many, that they don’t understand that working at their own speed many be working at a failure speed.

My question: What program do you have to teach them time management skills, monitor their development, and hold them accountable to a good schedule?

Skill # 2; Being accountable to a plan

When I was regional director for a very large international franchise company, I found, asA�I screened them, A�most potential owners and managers had never had anyone hold them accountable. In fact, there was a negative feeling about being held accountable. When you have a ‘boss’, you are accountable to that work plan and to your boss. In real estate, we’re so careful not to step over the boundaries of the independent contractor concept, we rarely hold anyone accountable to anything. The result: Most people never know what the job really is, and whether they areA�on track to attain their goals.

My question to you is: How are you going to help someone be accountable for their own success andA�be willing to be coached?

Skill #3: Implement a plan of action.

It is just amazing to me the kablooey plans of action out there. In another blog, I’ll show you why most of them lead to an agent’s failure. Most of the time, in fact, an agent isn’t provided a plan of action. He/she is just told suggestions or 50 ways to do something. The result: The agent has no idea how to prioritize activities and proceed. He has no ideaA�whether what he is doing every day actually is leading him toward a goal.

My question to you is: Do you provide a prioritized plan of action, introduced in the interview, and use that plan of action to coach your agent in executing a successful real estate business?

So, after I’ve given you 3 skills agents need to succeed, what do you think? Is real estate an ‘independent’ or dependent business? I believe it needs to be a ‘dependent’ business at the beginning. That is, I coach the new agent as he/she starts his/her business. I am the leader. The new agent is the follower (or the struggling agent). There is the dependence. Once the agent ‘has it’, I step back, and become more of a consultant.

If you haven’t read the great book,A� Outliers, get it and read it now. One of the great lessons in the book is that no one succeeds alone. In later blogs, we’ll talk about the ‘community’ it takes to help someone be successful today.

Give me your feedback on the ‘independent’ or ‘dependent’ concept. What do you think?

Why not let me support you with your agents?A�Take a look at my blog for agents, Up and Running in 30 Days. I’ll motivate them, inform them, and support your point of view. Sign them up today.A�

If you’re a busy owner or manager, you’re probably wondering how you possibly implement the leadership you know it takes today to move your company forward. I’ve got the answer. Once a month, I’ll share a new leadership strategy–a strategy you can instantly implement in your company to motivate, energize, and help your agents be more productive (plus, these are great recruiting tools). Take a look at 365 Leadership.

For just $39.95 per month, you’ll get that strategy/action plan, an instructional webinar, a coaching tele-conference call, and all the ready-to-use documents you need to make that strategy a reality. Our new session starts in January, 2012. Don’t worry: You can join through March and get any sessions you may have missed. And, you will have access to all the completed sessions any time you want to view or review them. Check out 365 Leadership today. Let me share with you the specific, creative strategies I used to rebuild 2 real estate offices into exceptional profits.

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