What Should You Expect Your First Week in the Business?
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What should you expect your first week in the business?
The next few blogs are excerpted from my ebook, What They Don’t Teach You in Pre-License School (the facts about real estate as a career!).
Herea��s Your Desk, Herea��s Your Phone, Got Any Questionsa��..
Thata��s what my first boss told me as I was hired. So, I went to the desk I was assigned anda��..waited for something to happen. I was so naA?ve I didna��t even know the questions to ask! You may be laughing now, but, that still occurs in real estate offices today. What would you do if that happened to you? Probably sit and wait for someone to
Invite you to have a cup of coffee or lunch
Invite you to go see homes for sale
And, those were both things that happened to me. You may even conclude thata��s how real estate was sold. Wrong. Unfortunately, neither of these activities makes you any money. So, I quickly figured out I couldna��t do things like the agents in the office did them, or I would produce the same amount they produceda��3-4 sales a year. (There were two others in the office, but I never saw them, because they were out sellinga��.).
What Your First Week Should Look Like
Orientation: Get everything done on the orientation checklist your manager provided. Work with the secretary or assistant to complete all the tasks, so youa��re ready to sell real estate.
Schedule an appointment with your manager to get your business start-up plan and a coaching schedule with him/her or someone designated as your accountability coach.
Start-up checklist: Your manager may provide a start-up checklist, which has things on it such as a�?create a databasea��; call potential clientsa��; a�?meet with a mortgage repa��. These lists can include business developing and business-supporting activities. Just be sure they are targeted to start your business successfullya��not just give you busywork.
Schedule your initial training: Your company should have an initial training program that occurs at least every two months. Schedule attendance at it. Chapter 9 has a comprehensive new agent training calendar you can use to compare to what youa��ve requested in the interview.
Property inspection: Every new agent wants to feel comfortable with inventory. So, schedule inspection of listings for 3-5 hours this week, and during your first month. As you become comfortable with inventory, dona��t a�?previewa�� any more than you need toA� feel comfortable working with buyers and sellers.
Top-producing agents preview with a reason: To do research on a potential listing, or to preview with a specific buyer in mind. They dona��t have time just to preview pretty properties because they are on the marketa��but non-producing agents have plenty of time to become a�?property expertsa��.
See my business start-up plan, A�for a good prototype schedule for yourself, so you’ll get great time management habits from day 1.
Want proven guidance to start your career? Check out
What They Don’t Teach You in Pre-License SchoolA� -A�everything each prospective agent should know about careers in real estate
Up and Running in 30 DaysA�–A�the new agent’s business start-up plan, with dozens of training tips, checklists, and sales guidance to start your career right
UP and Running in Real Estate — the comprehensive online version; a detailed start-up plan, with 25 training videos, dozens of documents to save you thousands of hours, and coaching plus motivation to keep your momentum to success
Carla’s advice: No matter how you start, start with a proven plan!
Managers: You motivate others. Who gets you up when you’re down? That’s a really important question for us managers. Why? Because we’re expected to be the ‘cheerleaders’ for our associates. So, if we’re down, we can bring everyone down.
Have you ever gotten poison oak? In Oregon’s Willamette Valley, where I grew up, poison ivy seemed to be waiting in the woods ready to attack me each time I ventured out of my yard. Getting poison ivy meant itchy skin, at the least, and, at its worst, it meant a face swollen to the point where my eyes were just slits. That will get you down. In fact, I’d look in the mirror and wonder if I’d ever look like meA� again.
During one particularly horrible bout with my enemy, poison oakA� (you can tell I really hated this stuff), I remember riding in the car with my mother to pick up my sister at school. (I couldn’t go to school with the poison oak raging, but I was probably driving my mother so crazy that she let me take this little trip). We got near the school, and I forgot I had this grotesquely swollen face for a moment. I waved at a friend. I got a stare back. Turning to my mom, I asked, “Will I ever get over this?” Of course, as good moms do, she replied, “Of course, sweetie. It’s just temporary. You’ll look like your cheery little self real soon again.” And, of course, after a couple of weeks, I did resemble me. (But I still hated poison oak…)
What do you do when your mom’s not there?
We managers have many varieties of poison oak waiting to attack us as we venture into the ‘woods of management’ each day. An agent leaves us, a call from an unhappy seller, a letter from a new homeowner, saying, “What is your company going to do about our pest infestation problem?” I’ll bet you can think of 25 others! Sometimes you wish your mom could just sit with you in your office each day and say, over and over, “It’s okay, honey. They don’t dislike you, they just have a problem.” Sounds far fetched, but, the real question is, “Who gets you up when you’re down?”
An Industry-wide Problem
It’s not just us brokers who seem to be fighting more ‘poison oak’ every day. It’s all of us in the industry. As agents capture more of the commission dollars, they’re more ‘on their own’. They’re fighting more of their own battles, with less management help. There’s less ‘broker supervision’. Now, to independent people like you and me, that sounds great. We don’t need someone standing over our shoulder telling us what to do. But, there’s a downside to no supervision. When we do something right, there’s no one to congratulate us! And, since most of us in this industry thrive on recognition, we’ve given up a chance to get it from an ‘authority’.
The biggest desire of a human being is simply recognition.A�
On the other hand, when things go wrong, with less interest and guidance in how we’re doing, we’ve given up the chance to let someone who cares about us ‘pump us up’ when we’re down.
How do you respond to barriers? How quickly can you bounce back? Tell me your strategies and share them with our readers.
Let Me Motivate Your Agents While I Train Them
As a manager, do you have a lot on your plate? I know. I managed for over 2 decades! Why not let me train and coach your agents, while I motivate them to high goals? Check out my online training/coaching/accountability program, Up and Running in Real Estate. Along with 25+ training webinars and dozens of checklists/documents to guide your agents, I’ve also built in lots of motivation and accountability. Check this unique program out here.A�
Motivation: Does it Come from the Inside or Outside?
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Motivation: Does it come from the inside or outside?
There are two ways to get that motivation, that appreciation, that support you need. We already discussed a�?going outsidea�� (see the earlier blog). But, therea��s another method. Thata��s the method so few of us use: Going inside. We shy away from acknowledging our own efforts. Why? Perhaps your mom (as mine did) told us not to brag. It was unseemly to be immodest.
Not about Bragging
Acknowledging yourself is not bragging. It is not only positive, it is absolutely critical to do if we are to be effective leaders. We must use all the methods as our disposal to keep ourselves a�?upa��, so we can be models for those who follow us.
Going inside. Someone you can always count on. When I was in college, I remember going sailing with a group of people. It was a gorgeous day. We sailed around the large lake, enjoying moderate winds. Then, about 6 o’clock, we decided to sail back to the dock. Problem. No wind. We had no choice but to wait for that wind to bring us back. (or use the little outboard motor, which the purest a�?captaina�� was loathe to use.)
Frequently, we count on others to ‘sail us back to the dock of positive attitude’ when we’re down. Like the wind, though, they may not be there when we need them!
Draw a Different Conclusion
Actually, though, we have our own outboard motor on board–our own minds. We have the ability to change our minds about things (especially we women, men say…). We have the ability inside us to re-draw a conclusion about an event. For instance, we managers get ‘down’ when the agent we thought we were going to hire went to another agency. We can look at it as a loss, or as an opportunity to learn from the experience. If we’re good at managing our attitude, we’ll call that agent to find out what attracted that agent to the other company–and learn from the experience.
What’s your best way to get motivated? How do you you ‘tap’ those inner fires of motivation?
A Training/Coaching Program Online with Motivation Built In
As a manager, you have a million things to do. You’re expected to be ‘up’ all the time. It’s challenging to provide the motivation — the attitude–needed to keep those agents keeping on. So, I’ve built in motivation in my unique online training/coaching/accountability program, Up and Running in Real Estate.
Take a look. Let me help you train and motivate your agents to great success fast! Click here to learn more.
What’s changed about motivation–and how to take advantage of it…
Are your motivating methods working? If you’re using the methods most managers use, they aren’t working like they used to. Why? Because today’s agents just aren’t motivated by the things ‘workers’ used to respond to. Today, it’s very important that we motivate effectively, because we have to get out agents back out into the market.
Motivational Methods Must Change
In his book,A�Drive: The Surprising Truth About What Motivates Us, Daniel Pink lays out a persuasive case, backed by extensive scientific studies, about why the traditional a�?carrot and sticka�� motivational methods just dona��t work for us today. Ita��s especially true with real estate professionals. Why? Because we in effect work for ourselves. We have to be self-starters, initiators, and tenacious in our pursuit of our goals. That means we have to be motivated by things other than promises of material things.
Why Money Doesna��t Work as a Motivator
First, as Pink points out, money and/or material things are good short-term motivators. (Read Herzberga��s studies on short and long-term motivation). In fact, just take a look at the number of real estate agents who are motivated to visit an open house when therea��s food! But, as Herzberg and others have pointed out, money is a lousy long-term motivator. You know that if youa��ve tried motivating your kids with moneya��or threats (the carrot and stick).
I know. The agents all say they need to make more sales. But, what have you noticed they are willing to do to make those sales? Lead generate more regularly? Make more sales calls? We all know that lead generating is the answer to that money problem. Yet, the vast majority of agents avoid lead generating as if it gave us some chronic disease! So, money is just not an effective long-term motivator.
Best Motivators to Motivate Others
Pink shows, via extensive studies, that there are three driving motivators which we should put to work today to fire ourselves up, keep those fires lit, and achieve what we want to achieve. They are:
- Autonomy
- Mastery
- Purpose
Questions to Ask Your Agents to Get Them Excited Again
AboutA� Autonomy
Are you in charge of your own business, or are you waiting for someone else to tell you what to do?
Do you expect your manager to make you go to work, or are you self-directed and self-starting?
Are you disciplined in your business, so you can enjoy that autonomy?
Seth Godin, author of Tribes,A� says about autonomy:A�The art of the art {of autonomy} is picking your limits. Thata��s the autonomy I must cherish. The freedom to pick my boundaries.
My question to you: Do you have agents that you believe will never operate in autonomy? Don’t you need to invite them to another profession?
AboutA� Mastery
Are you working just to get by, or are you consistently working to get better? What do you want to excel at? How does that translate into your business?
About Purpose
What excites you so much you cana��t sleep at night?
Is there a way to translate that to your real estate business?
The desire to do something because you find it deeply satisfying and personally challenging inspires the highest levels of creativity, whether ita��s in the arts, sciences, or business. A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A�A� Teresa Amabile, Professor, Harvard University
Our Coaching Helps You Motivate
Carla Cross’s extensive background and study into effective motivation is an extra benefit to you in her Leadership Mastery coaching program.A�Click hereA�for a complimentary consultation.
Great Topic for a Convention/Management Retreat
Yes, the desire and need to motivate is very strong today with managers. But, they need new information and new motivation methods for those millennials. Why not invite Carla to your next convention or management meeting and let her help your managers help more agents?
Greatest Motivational Method in the World!
Behavior that’s rewarded is repeated.A�
Have an Unmotivated Agent? Tips to Light ‘Em on Fire
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Have an unmotivated agent? Tips to light ’em on fire!
Do you have any seasoned agents in your office who have lost their fire? Therea��s probably no challenge for a manager today greater than that of rejuvenating your experienced, valued agents. Even though your market is better than it was, these seasoned agents just dona��t seem to be able to re-light those fires of desire. Youa��ve tried being supportive and empathetic. Youa��ve even given them leads. Nothing has seemed to work. What are you going to do to retain these agents, motivate these agents, and get them back into the fray?
Before We Start: What Doesna��t Work
As a coach, Ia��ve been working with management teams to save and re-generate the careers of experienced agents. One of the biggest mistakes Ia��ve seen managers make is to try to help these seasoned agents through support and empathy. Thata��s just not enough. And, ita��s actually demeaning. Yes, some empathy is needed. But, my observation is that it too often drifts into sympathy. Instead of motivating these seasoned agents to get back at it, these well-meaning but misguided managers are sympathizing the agents into a deeper
You Can Fill the Motivational Void Left by the a�?On Firea�� Market
As a manager, you have the ability to not only provide an atmosphere, along with a platform, to motivate that agent back into the business, you can go much further than that, to a�?inspirationa�?.
Just think what would happen if you could get that seasoned, slumping, a�?stucka�� agent back into the business with fervor. The whole attitude of your office would improve. Your coaching would work. Your training would be well attended. Your bottom line would look much healthier.
Two Steps to Create an Awesome Motivational Office
Ia��ve created a two-step approach to re-ignite your seasoned agents. In the next few blogs, Ia��ll show you exactly how to not only motivate those agents, but go way beyond motivation to inspiration.
Before I give you my approach, let me ask you to think about what motivates you. What re-lights your fires of desire? How have you noticed your seasoned agents ‘checking out’? Do some observation and research before you read my next blog post.
Want to Be Approved as a Clock-Hour Instructor in Washington–and Learn from Carla?
Get approved for teaching real estate clock-hour approved courses. Receive 15 clock hours of continuing education credits. Learn from the only Washington’s only National Realtor Educator of the Year. Gain invaluable strategies; worth so much more than just clock hours or certification!
New! Bring the course you want to teach and we’ll apply new teaching methods for you. Get strategies to be the engaging, creative instructor you know you are!
2018 scheduled courses:
May 22-23, 2018 in Bellevue, Wa.. A� A�A�A�Click hereA�for more information and registration.
Fall course: Oct. 23-24, 2018 in Bellevue, WA. (registration link to be included later).
Need to get approved as an instructor right away?A�Order our distance learning courseA�A�Train the Trainer. Fulfills the same requirements, has the same curriculum, has 15 clock hours. Take this course at your own speed and fulfill the requirements to become a Wa. state approved clock-hour instructor.
Your knowledge of my part of the business helped me to recognize ideas I can use in title insurance and escrow.A�Judy Williams, Chicago Title
Carla is fantastic! I will always be appreciative.A�Kim Emmons, manager, John L Scott, Maple Valley, Wa.
Instructor is 100% competent. Her passion, professionalism, and knowledge of the subject is passed on to her class.A�Mike Kerwin, Keller Williams Realty
Bonus: 30% discount on 3 of Carla’s training resources to attendees.
Space is limited. Don’t miss this opportunity!A�Click hereA�for more information and registration.
How to Know If You’re Wasting Your Time Training (!)
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Here’s how to know if you’re wasting your time training. Really!!!!A� Just because you ‘have training’ doesn’t mean it’s effective.
Every company says they ‘have training’. Yet, whether you’ve been in business 2 days or 20 years, you’ve probably felt frustrated that those hours spent in class–listening to someone at the front (the ‘expert)–didn’t do you any good. There are reasons training doesna��t worka��and herea��s how to make it work for you, so you dona��t waste precious hours in training rooms–either as an instructor or as a student.
Dona��t forget: Get the Analysis of your Sales Performance Skills worksheet at the end of this blog. This is great for managers to use to plan training needs and for agents to use to assure theya��re refining the skills that make a difference.
Training: Taught Right or Not?
Training doesn’t work because it’s not taught right–and the people in the class aren’t doing what needs to be done for training to make a difference in their lives.
A�Herea��s what training needs to help you every time youa��re in class:
A�Training must have action inside class to be effective for you. If you’re the instructor, you must use ‘alternative delivery methods’ to get those students into action in class. What are alternative delivery methods? All those methods used to train that aren’t lecture. (see below).
A�What do I mean?
A�I mean we have to look at real estate as a a�?performance arta��, not a a�?knowledge pursuita��!
Big question for you: Think of your last 3 trainings. What were you doing in class? Listening to the a�?experta��? Or, were you putting to work what you were learninga��while in class, so you could get valuable feedback before you a�?practiceda�� on real peoplea��your clients?
Here’s Effective Training
What you need to be doing in class to assure you can do it a�?for reala��: (these are alternative delivery methods)
If ita��s appropriate, you need to role play (like answering objections, giving a listing presentation, etc.)
If appropriate, you need to differentiate (like finding mistakes in a purchase and sale agreement).
If appropriate, you need to practice the actions in class and then go out and do it with a a�?real persona��a��the clienta��and come back and tell how it went (practice a listing presentation, do it a�?for reala��, and come back to class and refine it).
None of these things happening in class? Make it work anyway. Take the a�?actionablea�� items you learned in class and go do thema��for reala��within 3 days of going to class (otherwise we only remember 10% of what we heard!!!!!). Now youa��ve made your own action plan.
Trainers: I did a series of 5 videos showing how to make your training work. See them on my uTube channel.
Note: I’m a bit shocked when I hear that those who took a ‘Train the Trainer’ course didn’t learn any of these methods. Just learning how to drone on (in lecture) just doesn’t cut it with today’s audiences–or with assuring your students actually can apply skills!
A�Real Estate: Performance Art or Knowledge Pursuit?
A�Leta��s be honest: Do you know someone in your office who seems to know everythinga��but doesna��t sell a stick of real estate? Sure. Thata��s the problem with treating real estate as a a�?knowledge pursuita��. It has little to do with results.A� Our profession is a performance art. How you perform in the fielda��with real clientsa��determines your success.
Big question for you: Which kind ofA�real estate professional are you? A a�?performance arta�� agent or a a�?knowledge pursuita�� agent? A�Which is easier to become?
Your Training Should Resemble a Piano Lesson
As a long-time pianist and teacher, I know intimately that, if you dona��t practice, you cana��t play (or you play badly)! Think of effective training like a piano lesson. You practice outside class. You come prepared. You get tips and modeling from your teacher. Then you practice in class with your a�?coacha�� watching and listening. Then, you a�?go out in the fielda�� and practice. You come back ready to perform for your coach again. Thata��s effective training.
Here are 3 things that dona��t work in training (and things for you to avoid):
- A�Listening for a long period of time and thinking you can do it (you already know that, from your experiences, right?)
- Thinking most company training will a�?do ita�� for you
- Relying on a�?on demanda�� video. Many large franchises are providing video on demand training. Brokers may be relieved that this is going to take training off their plates. I wish.
Unfortunately, video training can provide very limited production results. Why? Because people dona��t learn much by watching video. Yes, they learn a little. They observe someone else doing something; they get information. But, they dona��t have to take action.
When youa��re ready to get results from your training, youa��ll be ready to treat your training like the power tool it really can be.
Want to see an effective training program? Check out Up and Running in Real Estate.
A�Dona��t forget to grab that Analysis of your Sales Performance Skills here.A�A�A�
And, be sure to check out my uTube channel for those 5 videos on alternative training methods.
Want to Be Approved as a Clock-Hour Instructor in Washington–and Learn from Carla?
Get approved for teaching real estate clock-hour approved courses. Receive 15 clock hours of continuing education credits. Learn from the only Washington’s only National Realtor Educator of the Year. Gain invaluable strategies; worth so much more than just clock hours or certification!
New! Bring the course you want to teach and we’ll apply new teaching methods for you. Get strategies to be the engaging, creative instructor you know you are!
2018 scheduled courses:
May 22-23, 2018 in Bellevue, Wa.. A� A�A� Click here for more information and registration.
Fall course: Oct. 23-24, 2018 in Bellevue, WA. (registration link to be included later).
Need to get approved as an instructor right away? Order our distance learning courseA� Train the Trainer. Fulfills the same requirements, has the same curriculum, has 15 clock hours. Take this course at your own speed and fulfill the requirements to become a Wa. state approved clock-hour instructor.
Your knowledge of my part of the business helped me to recognize ideas I can use in title insurance and escrow. Judy Williams, Chicago Title
Carla is fantastic! I will always be appreciative. Kim Emmons, manager, John L Scott, Maple Valley, Wa.
Instructor is 100% competent. Her passion, professionalism, and knowledge of the subject is passed on to her class. Mike Kerwin, Keller Williams Realty
Bonus: 30% discount on 3 of Carla’s training resources to attendees.
Space is limited. Don’t miss this opportunity!A�Click hereA�for more information and registration.
Are your agents leaving their best source of business $$$$ on the table? Most agents are. They’re missing their ‘goldmine’ business.
Whata��s a a�?goldmine businessa��? I think ita��s a business that results from at least 50% referrals. Why? Because referrals
- Cost less
- Are wonderful people to work with
- Make you feel good!
Unfortunately, agents do not a�?minea�� this potential goldmine of business. According to the latest National Association of Realtorsa�� survey, only 18%A�of agentsa�� business came from referrals last year! And, a full 21%A�of agents said they got NO referral business!
Managers: Have you helped your agents track and analyze best sources of business?A�
QuestionsA�to Ask Your Agents
Do you know how many of your sales and listings sold came from referrals in 2018?
Whata��s your goal for referral business in 2018?
How important are referrals to you?
I hope youa��ve done your business plan for 2018. (If not, see my program, Beyond the Basics of Business Planning, for full business planning templates and guidance).
Two Best Strategies
1, Take every opportunity to recognize those who have helped you in your career. For example: Do you provide a closing gift? If not, what do your clients think of you? (That you just took the money and ran?)
2. Thank your referral sources profuselya��at the time of the referral, not at closing. And, create ways to say a�?thanksa�� for the smallest positive action! Why? You want others to think of you in a positive light. You want your communications to be effusive in your generous thank you mentality!
Big idea: Behavior that’s rewarded is repeated!
Finally: Do your agents have a referral plan? Brain storm with your fellow agents about how they create more referrals. Of course, ask for them. But, better than merely asking, show that you are thankful for your clientsa�� support in all your actions. Youa��ll create a much stronger A�business AND youa��ll find your business much more pleasant and rewarding.
Free giveaway: Need ideas on how to ‘thank’ your referral sources? Grab my Idea Fest: 42 Ideas to Put Into your Business Plan. Click here to get it.
Dropping 1979 practices:A�The evolution and why you need to know.
This blog series is taken from an article I just wrote on the history and future for real estate. But, it’s not just a look from afar. It’s an actual history of how we agents operated and how companies encouraged how we practiced real estate. But, as real estate has changed, have agents (and companies) changed their approach to real estate sales? Here’s theA�third blog entry.
Dependent on the Company for Successa��or our Own Efforts?
Stephen Covey, in his wonderful book, The 7 Habits of Highly Successful People, relates three phases of a persona��s growth: Dependent, Independent, and Interdependent. As kids, wea��re certainly reliant on our parents for everythinga��wea��re dependent. Then, as teen-agers, we get to drive, and, voilaa��.we become (or like to think we become) independent (and we think we know it all). Finally, as we mature, we find that going it alone is tougher than teaming with othersa��that we actually dona��t know everythinga��and that othersa�� support, love, and consideration are supremely important to human beings. The same can be said of the evolution of companiesa��and, in fact, real estate companies.
The Evolution to Todaya��and on to Tomorrow
You can imagine that the dependent type of company brand strength would be challengeda��and it was. In the 80a��s the a�?independenta�� real estate concept turned the business upside down. Agents had learned that they actually have much more control over their own businesses than theya��d thought. They didna��t feel they needed to be managed like employees. They were ready to create and drive their own businesses and spend their own money to do it. Many thrived in this environment, but some didna��t have the business skills to take over and run their businesses like businesses.
The Internet Took away the Inventory a�?Secretsa��
One powerful a�?secreta�� agents had over their clients is that the clients didna��t have access to listing information. The MLS sure wanted to keep it that way. But, with the Internet, all those a�?secretsa�� disappeared. Agents had to ask themselves, a�?Whata��s my value? If my value isna��t in knowing all about those homes (and the client doesna��t), what value do I bring?a�? Savvy agents realized their value lay in personal service, and the knowledge and judgment honed over years of real estate practice. So, we agents had to pivot from a�?product-centrica�� to a�?agent-centrica�� businesses. Not all agents made the pivot.
Time warp check: Are you able to clearly articulate your value to the client in todaya��s work environment?A�
Todaya��and Tomorrow; Where are We Going?
In the past 20+ years, the emergence of the a�?interdependenta�� real estate company has made this evolution go to the third round. Simply stated, all the systems and models of the company are set up to create a team atmosphere and to optimize each persona��s potential. Easier said than done! The brand takes a back seat to each agenta��s development.
In the next blog, we’ll look further into the interdependent model, and what it means to you as a practicing real estateA�professional.
Big lesson: No matter the model you work in, you must evolve your business to meet the needs of today’s real estate climate.
Dropping 1979 practices: Get into today’s and tomorrow’s real estate world!
This blog series is taken from an article I just wrote on the history and future for real estate. But, it’s not just a look from afar. It’s an actual history of how we agents operated and how companies encouraged how we practiced real estate. But, as real estate has changed, have agents (and companies) changed their approach to real estate sales? Here’s the second blog entry.
Get to Know and Stay In Contact with Former Clients?A� Why?
As you can see from my descriptions so far of how real estate was practiced when I started in the 70’s , the emphasis was not on client satisfaction. A�No one taught us to interview buyers prior to hauling them around to see homes (yes, we called it a�?haulsa��) or form relationships with them! No one trained us to interview sellers for needs before we a�?solda�� the seller on our services (and we basically sold company features and benefits, not what an individual agent would do for the client). No one taught us that it was important or that we were to keep clients over time. In fact, it seemed to be a a�?nexta�� business (find a new buyer or seller). The company took the responsibility to keep track of the clients.(And, of course, the companya��s attitude was that they a�?owneda�� the client).
Time warp check: Do you know agents who still dona��t start client relationships with and in-depth interview process, so the client needs are discovered and met?A�
Because the company was spending money on advertising, the agents assumed clients would remember the agent and perhaps come back of their own accord.
Problem: The clients remembered the company but didna��t remember the agent! Agents seemed interchangeable (and you know theya��re not!).
Time warp check: Do you know agents who still dona��t keep in close contact with their best source of businessa��those they just a�?solda��?
Dependent on the Company for Successa��or our Own Efforts?
Stephen Covey, in his wonderful book, The 7 Habits of Highly Successful People, relates three phases of a persona��s growth: Dependent, Independent, and Interdependent. As kids, wea��re certainly reliant on our parents for everythinga��wea��re dependent. Then, as teen-agers, we get to drive, and, voilaa��.we become (or like to think we become) independent (and we think we know it all). Finally, as we mature, we find that going it alone is tougher than teaming with othersa��that we actually dona��t know everythinga��and that othersa�� support, love, and consideration are supremely important to human beings. The same can be said of the evolution of companiesa��and, in fact, real estate companies.
The Dependent Company was Dominant
Above, Ia��ve described my early experience in a company as a�?dependenta��. We relied on the company to create the brand, create the business, schedule our time, take care of the business side of things, and even track and re-communicate with the client.
Time warp check: Do you know agents that still operate without a business plan or a budget, relying on the company plan to suffice?
In the next blog, I’ll discuss the continuing evolution of real estate. And, I’ll relate to how many agents are still practicing–not stepping up their business to compete now. And, unwittingly, companies are encouraging these old practices through their branding and practices.
One More Opportunity to Get My Business Planning Resources at Deep Discounts
Thought you’d get it done but it’s still on your ‘to do’ list? I want to help! So, I’ve extended my discounts on my online business planning resources through Jan. 31.
Managers: Frustrated because you can’t get your agents to plan? Problems solved! I’ve put my exclusive planning pages online–plus webinars to help you get through that plan fast. Don’t wait another year for business success. See moreA�here.
Special discounts through Jan. 31: Purchase the agent’s planning resource,A�Beyond the Basics of Business PlanningA�for agents, A�and save $20 (regularly $99). Use coupon codeA�agent bus plan.
Managers: I’ll teach your agents how to plan, too! Included in your Manager’s Package!
Purchase the manager’s planning resource,A�Beyond the Basics of Business Planning for Managers, A�with all office/company planning documents and save $50. Use coupon codeA�manager bus plan.
Offer ends Jan. 31: Big discounts on these programs–use the coupon codes below to order.
Ready to order? Click below:
Beyond the Basics of Business planning for ManagersA�– regularly $249, now $199 with coupon code managerA�bus planA�
Beyond the Basics of Business Planning for AgentsA�A�–regularly $99, now $79 with coupon codeA�agent bus plan
Remember, this special offer expires Jan. 31, so, order now and get your business plan ready for 2018.
PS: I’ve got dozens of ideas on how you can refine your systems for tomorrow’s real estate practices–not yesterday’s….
Are We Still Operating as Though it was 1979?
By · CommentsAre we still operating as though it was 1979?
I’m writing an article about how real estate has changed for a prominent real estate magazine. Here is the first part of that article, which will be continued in the next two blogs. As I write the article, I am actually stunned as I think about the number of habits we have carried over from 1979 (even though they didn’t work real well then and they sure don’t work now.)
Agents Were Hired to Sell and ‘Service’ Listings
a�?Sell, sell, sell!a�? Ia��ll never forget the cry of the vice-president of our company yelling that at the end of an all-company meeting. When I started in real estate, about four decades ago (wow!), a company wanteda��and expecteda��agents to sell houses. Thata��s it. The company would take care of the advertising to gain leads, business plan, financesa��and charge 50% of the commissions for doing it. Does that sound onerous to you? Well, to us, entering the business, it sounded great! After all, what did we know about how to marketing to find business, how to spend our marketing dollars, how to think longer-term about our careers? No. What we thought about was that we would probably see some nice listings that day, and wea��d go home and try to find a buyer for that listing.
How Agents a�?Lead Generateda��
Well, they didna��t really lead generate themselves. They waited for the company to spend money to get prospective buyers and sellers to call them. Herea��s how it was done:
- The company placed ads in newspapers. Agents were assigned a�?floor timea�� to answer these inquiries. The listing agent didna��t get the calls. Unfortunately, many times agents were new, and/or hadna��t seen the homes. But, the company a�?solda�� the opportunitya��and agents complained that there were few a�?qualifieda�� calls. Fortunately (?), sellers didn’t realize how these calls were handled–and they weren’t told anything about call handling during the listing presentation. They were just ecstatic that their home would be advertised!
Managers: Are you training your agents to tell the truth about what advertising/open houses do? Are you training your agents NOT to rely on these methods to get houses sold?
Contrarian view: As I write this, I’ll tell you how I bucked the practices of the day, because I found these practices to set up win-lose situations. Most agents sat and waited for a lead to come to them. But, since I knew 2 people when we moved to Seattle, I was afraid to a�?sit and waita��. Fortunately, I had a manager who told me to a�?go talk to peoplea��. So, I dida��for sale by owners, expired listings, farminga��you name it, I did it (without any training–I just read articles and bugged agents!) I did proactive lead generating way before it was a�?ina�� to doa��and was named in the top 10 agents in my 400 agent company my 2nd year in the business (boy, was I surprised!).
2. Open houses: The office assigned agents to hold homes open (especially new homes). Most of the time, these werena��t the listing agents. Instead, the listing agents promised the builders that someone would hold the home open every Saturday and Sunday. So, agents (especially newer agents) were assigned these a�?opportunitiesa��a��even though the home may be on a lane in the woodsa��.
Contrarian view: When I becameA� manager, I taught our agents never to promise open houses if the house wasna��t situated in a high traffic area. Why? Ita��s unfair to sellers AND agents. Also, we kept statistics on A�how often a buyer walked in a bought the home (very, very seldoma��in a normal market).
Managers: Do you keep statistics on how buyers find the home they bought? And what happens in open houses? Train your agents to educate sellers and buyers on why open houses are held and the results of them.
Big question
Managers: Are you still encouraging a ‘sit and wait’ attitude by the systems you use in your office (assigning floor time and/or open houses)? I don’t mean that these are not means to find buyers. But, buyers’ habits have changed and I’m afraid these systems and agents haven’t changed with them. Are you still operating in 1979?
One More Opportunity to Get My Business Planning Resources at Deep Discounts
Thought you’d get it done but it’s still on your ‘to do’ list? I want to help! So, I’ve extended my discounts on my online business planning resources through Jan. 31.
Managers: Frustrated because you can’t get your agents to plan? Problems solved! I’ve put my exclusive planning pages online–plus webinars to help you get through that plan fast. Don’t wait another year for business success. See more here.
Special discounts through Jan. 31: Purchase the agent’s planning resource, Beyond the Basics of Business Planning for agents, A�and save $20 (regularly $99). Use coupon code agent bus plan.
Managers: I’ll teach your agents how to plan, too! Included in your Manager’s Package!
Purchase the manager’s planning resource, Beyond the Basics of Business Planning for Managers, A�with all office/company planning documents and save $50. Use coupon code manager bus plan.
Offer ends Jan. 31: Big discounts on these programs–use the coupon codes below to order.
Ready to order? Click below:
Beyond the Basics of Business planning for ManagersA�– regularly $249, now $199 with coupon code managerA�bus planA�
Beyond the Basics of Business Planning for AgentsA�A�–regularly $99, now $79 with coupon codeA�agent bus plan
Remember, this special offer expires Jan. 31, so, order now and get your business plan ready for 2018.
PS: I’ve got dozens of ideas on how you can refine your systems for tomorrow’s real estate practices–not yesterday’s….