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Feb
15

Managers: Here’s a ‘Whack Up the Side of the Head’

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A�This January and February, 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 recorded A�webinar for leadership. See more below, too.A�A�A�A�A�A�A�A�

The market was on fire. To take advantage of that situation, the majority of brokers were hiring everyone that walked in the door They knew even the least dedicated agent could find a friend, a relativea��a strangera��to sell a house. Most brokers considered the business as a a�?bigger is bettera�� proposition.A�

The a�?on firea�� agent mentality. Agents scoffed at the notion of business plans. They didna��t need business plans. They were too busy. They didna��t need training. Who needs training or coaching when buyers and sellers find them? In truth, there were plenty of opportunities to make money in real estate without much dedication, hard work, and skill required. So, thata��s what brokers got: Lots of agents having happy a�?accidentsa��, not skilled, not very committed to the long terma��but making some money.A�

Happy Sales Accidents Come to a Screeching HaltA�

Then, things changed. Those a�?fair-to-middlina�� agents having many happy a�?accidentsa�� in an on fire market werena��t really a�?fair-toa��middlina��. In a more challenging market, their deficiencies showed up. They became one-to-two transaction agents who had a few lucky accidents and sold some houses. Even though we love to tell agents to create referral businesses, we would all agree that closing one to two transactions yearly will never create the critical mass needed to drive a referral business.A�

Agents reacted quickly to market change. Realizing that the market wouldna��t be so forgiving, agents found a�?real’ jobs. But, in most cases, they kept their licenses with the brokerage, hoping to run into someone with whom they could work. Some hoped that this was just a blip in the market and that the fire would rise from the ashes again soon.A�

Brokers less quick to adapt. While agents sought other jobs or relied on other sources of income, most brokers took no actions. So, brokers were left with half their office a�?checked outa��. They languished about their work force. a�?How can we get them to work?a�? they asked. The answer is simple but not what brokers want to hear. Most agents who had a few happy accidents in the former market arena��t willing to lead generate to make sales.A�

Bottom line: What worked in an a�?on firea�� market just doesna��t work when the market isna��t a�?pushinga�� sales.A�

Get Whacked and Make the Changes Needed to ProfitA�

My dad used to say when my sister and I were behaving badly he thought we needed a a�?whack up the side of the heada��. Dona��t worry. He didna��t actually do it, but we did pay attention when he said it, because we knew it was time to stop, look, and listena��and change our behavior! Ita��s time, I think, for brokers to get that a�?whack up the side of the heada��, too.A�

In my next few blogs, I’ll provide that ‘whack up the side of the head’ I believe we brokers need to move our businesses past ‘maintenance to leadership.

Gain Innovative Action Strategies

Do you want to step into a better leadership style? Be more effecctive? Recruit more and better? I’ve created a very special, unique program for managers and owners: Once a month I share a specific leadershp strategy to recruit, choose, train, coach, and retain winners. These are proven strategies to get you out of a rut, take you past crisis management, and energize and inspire your team. See more at 365 Leadership. This new series closes for enrollment March 15. Find out more here.

 

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