Need strategies to get your agents to create great business plans? Here they are!
In November and December, I’m focusing on business planning, to help you and your agents get a great business plan for next year. Look forA� checklists, processes, and systems ready to use, too.
I know ita��s a lot of work to get your agents to commit to paper on anything. And, from working with thousands of agents on business planning over the years, I know the challenges. But, for us managers, the huge pay-off comes not from whata��s on paper, what, whata��s in the head. When we use a good business planning process we literally teach agents how to think through their businesses.
Three Huge Stealth Strategies
1. Take Away Commitment Phobia
Ita��s estimated we are told a�?noa�� 148,000 times prior to age eighteen. No wonder we dona��t want to commit to try anything! I know from teaching adults to play the piano, that adults are conditioned not to try anything new for fear of not being perfect. To many, writing a business plan means planning to faila��and then getting punished for it.
So, the first time you introduce business planning, take away the old downside of goal setting (not reaching it and getting punished),A� and help your agents move in incremental steps forwarda��a step at a time, with lots of positive reinforcement along the way. You have to create a safe haven for first-time planners.
2. Eat the Elephant a Bite at a Time
One of the agents in an office where I just did a small group coaching series told me he put a picture of an elephant on the wall, and then literally divided the elephant into bite-sized pieces, with an action step listed on each bite. What a wonderful visual! For many of your agents, planning is just the most overwhelming process they could envision. So, simply start with one or two areas. Personally, I start with 2-3 areas in the Review. See my next blog for an example of this.
3. Make it Really Easy to Start
Have a great business planning system to provide your agents. (Never just ask them to make a business plan without a system to follow, because youa��ll get all kinds of formats). Dona��t overwhelm your agents with too many planning pages to start. Customize your package with each agent. If you can get each agent to look at 1-3 areas of his business, and plan change strategies for a better year in that area, youa��ll have started the processa��a process that will continue, grow, and reap big benefits by year three.
We Do What We See, Not What We are Told
Do you have a business plan? If not, why should your agents be interested ? Making your a�?stealtha�� approach work means you must lead by example. Doing so creates a synergy between your plan and all the agentsa�� plans, and builds a strength that perseveres even in the toughest market.
What should be in an agent’s business planning system? Click here to see a ‘flow chart’.
Watch my Recorded Complimentary Business Planning Webinar
During this fast-paced webinar youa��ll see:
- Why your plan probably didna��t work for youa��and what to do about it
- How to definitely find out what will work for YOU (not someone elsea��s plan!)
- How to anticipate market shifts (!)
- What to STOP doing in 2017
- What one thing will assure your business plan works
- Bonus: 10 Creative Marketing Ideas for your plan
Included handouts:
- The strategic planning process created exclusively for real estate professionals by Carla Cross
- Review: Your best sources of business
Click here to see the webinar and grab the handouts.
Here’s to a great 2017 with your polished business plan!
How Good is Your Business Planning System?
Need a comprehensive business planning system that is designed ONLY for leadership? Most planning systems don’t cover the specific areas you need to address.
Check out Beyond the Basics of Business Planning.
What Should Be in your Business Plan?
By · Comments
WhatA�should be in a business plan? In November and December, I’m featuring business planning, so you can get a great plan AND coach your agents to great plans.
So, what should be in a business plan? Goals? Action plans? Youa��re right, as far as it goes. A�Ita��s not enough to either write a
Platitude-heavy mission/vision plan, with a lot of a�?we will bea��.a��
Or
A goals-only plan
Why? Because neither version of a business plan does you much good if you want to create a business plan that is usable every day.
Whata��s in a Usable Business Plan
Click here to see the parts of a strategic business plan for a real estate agent (this would work for any salesperson). I created this a�?flow charta�� after being frustrated that there was no good business planning process or template for real estate salespeople. I found that there needed to be a clear a�?patha�� from the big picture planning aspects (vision/mission/objectives) to the action plan. I also found there had to be a clear delineation of the parts of the action plan. Why? Agents will focus on what they find easya��the business support parts of the plan, not the lead generating parts of the plan.
Make Moneya��Or Not
By focusing on the review and action portions of your plan, you will have a real blueprint to follow to create success every day. Be very careful about which planning system you use. The way you think will determine the kind of plan you get. Follow the model I’ve provided her. Now, you have a usable business plan for 2017.
Want to see more on business planning? Check outA�my complete online business planning programs, Beyond the Basics of Business Planning.
Watch my Complimentary Business Planning Webinar
During this fast-paced webinar youa��ll see:
- Why your plan probably didna��t work for youa��and what to do about it
- How to definitely find out what will work for YOU (not someone elsea��s plan!)
- How to anticipate market shifts (!)
- What to STOP doing in 2017
- What one thing will assure your business plan works
- Bonus: 10 Creative Marketing Ideas for your plan
Included handouts:
- The strategic planning process created exclusively for real estate professionals by Carla Cross
- Review: Your best sources of business
Click here to see the webinar and grab the handouts.
Here’s to a great 2017 with your polished business plan!
How Good is Your Business Planning System?
Need a comprehensive business planning system that is designed ONLY for leadership? Most planning systems don’t cover the specific areas you need to address.
Check out Beyond the Basics of Business Planning.
Have You Bullet-Proofed Your Business Plan for 2017?
By · Comments
Have you bullet-proofed your business plan for 2017?In November and December, I’m featuring business planning tips. Read the blogs and grab the free business planning templates I’m including from my online business planning system.
If youa��re like most real estate professionals, you create some type of a business plan this year. But, maybe it didna��t work for you. Or, maybea��you just didna��t work it!
Watch the Business Planning Webinar I Just Did
During this fast-paced webinar youa��ll see:
- Why your plan probably didna��t work for youa��and what to do about it
- How to definitely find out what will work for YOU (not someone elsea��s plan!)
- How to anticipate market shifts (!)
- What to STOP doing in 2017
- What one thing will assure your business plan works
- Bonus: 10 Creative Marketing Ideas for your plan
Included handouts:
- The strategic planning process created exclusively for real estate professionals by Carla Cross
- Review: Your best sources of business
Here’s to a great 2017 with your polished business plan!
How Good is Your Business Planning System?
Need a comprehensive business planning system that is designed ONLY for leadership? Most planning systems don’t cover the specific areas you need to address.
Check out Beyond the Basics of Business Planning.
Business planning: Are you making these 5 planning mistakes?
During November and December, I’m writing business planning blogs to help you create great plans with your agents. Check these blogs, too, for checklists, processes, and systems ready to use.A� For your agents: Check out Up and Running in 30 Days, my blog for your associates.
As you make your business plan, avoid the common mistakes that many real estate professionals make. Here they are:
MISTAKE #1
Betting on a business plan that’s only about 1/4 of a plan. Many of us write down our goals. Yet, that’s not a business plan. That’s just one part of the business plan. There are six parts to a real business plan:
a. Your vision-what do you have as an “end in mind”?
b. Your review-what happened last year?
c. Your mission-what are you about?
d. Your goals-expressed in the best terms for profitability today
e. Your action plan in each of 6 areas.
f. A method to measure your results.
Which parts do you include? What would your outcomes be if you thought through your business, covering all the bases?
Click here to see and grab my chart’ of a manager’s business planning system (excerpted from Beyond the Basics of Business Planning–one program for agents, one program for leadership.)
MISTAKE #2
Ignoring the importance of ‘revenue units’ (sales and listings sold). Unfortunately, when we write our goals, we like to use those great million dollar numbers and measurements like market share. Yet, setting goals for revenue units assures that you keep your eye “on the ball”-homes sold, which make you money. There’s another huge benefit to focusing on revenue units: You can then integrate your agents’ plans with your office plan.
MISTAKE #3
Not doing a thorough review (or not doing a review at all). Looking back on your last year is so important, because it gives you the “hints” you need to write your best action plan for the next year. I think it also solves the problem of the manager trying to figure out what to do next.
For example: It’s amazing that brokers don’t know one of their most important numbers for profitability: percent of listings taken to listings sold. You may be wasting many dollars in marketing homes that won’t sell-no matter what you do. Also, your agents become unmotivated and depressed when their listings don’t sell. Knowing this ratio gives you direction for your training and coaching for the coming year. Create a higher ratio and you’ll be able to use it to recruit, too.
MISTAKE #4
Writing the plan ‘in a vacuum.’ Almost always, brokers sit down to torture themselves by writing a business plan in a room with the doors shut and no windows. But, they don’t know yet what their agents want to accomplish for the next year. The right way to plan is this: First, help each of your agents create a business plan. The sum of your agents’ goals should form the foundation for your goals. After all, your agents’ efforts should be reflected in your revenue unit goals, shouldn’t they? Yet, very few brokers even help their agents write business plans. So, they can’t really get good projections of what they think their agents will produce in the next year.
If you do assist your agents in their planning processes, you will have a much better foundation for a realistic business plan of your own. (That also means you should be consulting your agents on their business plans in November, so you’ll have all their plans together as you start creating your office plan).
MISTAKE #5
Not creating specific action plans in each of the action plan areas. Michael Gerber, a spectacular “guru” for small businesses, says “the integration of your systems is your business plan.”
In other words, if you have a real business plan, I should be able to read it, come into your office on any day, and see how you’re carrying out your business plan in recruiting, selecting, training, coaching, and marketing. You would be able to delegate many of your duties, too, because you had specific action plans for each of these areas. You would be able to measure your progress at any given point. Further, if you have created action plans that are systems, someone would be willing to buy your company from you, giving you a very attractive price! (That’s what Gerber terms “franchising.”)
Get Ahead of the Curve
If you don’t have a business plan, there’s still time to get one done. Just by thinking through your business, you’ll be ahead of 95% of your competing brokers!A� If you want to make more money, gain time, delegate more to others, open another office, or create an office that’s saleable, it all starts with thinking through your business, getting it down on paper, and attaching systems to each of your action plan areas. Now, you’ve got something you can run, you can delegate, and you can sell.
Missed my complimentary business planning webinar?
Watch it here, and get all the handouts AND slides.
And, don’t forget to check out my comprehensive business planning program, all online: Beyond the Basics of Business Planning.
It’s much more than just a business planning process. I train your agents and consult with you and your agents to make great plans!
Here’s the missing ingredient that, without it, your business plan is useless!
For November and December, I’m featuring business planning. I want to help you get a great plan for 2017! You’ll see complimentary handouts and lots of business planning tips.
See my complimentary business planning webinar, too, coming up November 8.
Click here for more information on the webinar and to register.
Vision: The Missing Ingredient in that Plan
Is your business plan missing vision?A�Below is an explanation of why having a vision is so important to the success of your business plan. In fact, I believe the lack of vision in a plan leads to a demotivating and certainly uninspiring plan.
For you managers: I think helping your agents create an inspiring and motivating plan will remove their reticence at doing a plan.
Why Vision is Important
A few years ago, business professors, Jim Collins and Jerry Porras, studied very successful companies to find out the differences between a�?stunninga�� (high profits and highly regarded), and other like companies who were almost as profitable, but not so successful). They published the results in the best business book Ia��ve ever read, Built to Last: Successful Habits of Visionary Companies.A�
What did they find was the common difference between the highly profitable and merely very successful?
A common vision and values shared by every person in the company.A�
Porras and Collins’ conclusion was that the desire for profits isna��t the main driver for profits. The focused and tenacious vision, shared by all in the company, was the biggest determinant for profits.A�
Components of VisionA�
Your vision is made up of your core ideology and your envisioned future.A�
As you can see from the chart on the right, excerpted from Beyond the Basics of Business Planning,A�A�your core ideology is made up of your core values and core purpose. If you look at your life, youa��ll see that the things that inspire and motivate you are the things that adhere to your belief system. Thata��s what this part of the vision statement says about you.
Your envisioned future is made from a vivid description of this future, and BHAGsa��big hairy, audacious goals. Those are goals five years out, that you really dona��t think you can attain.
The Power of BHAGs
Surprisingly, as Porras and Collins found, when companies stated these goals, they actually attained them in three years! (Inspirational goals that are congruent with your core values and core ideology are powerful motivators!).
By the way, if you watch the webinar, I’ll be giving an ‘assignment’: To create one BHAG for your business plan–to get inspired!
What Vision Does for Companies
Herea��s Porras and Collinsa��s function of a vision statement:
Provides guidance about what core to preserve and what future to progress toward.A� Made up of core ideology and envisioned future.
Here’s an example of a vision of one of the book’s stand-out companies:
Our basic principles have endured intact since our founders conceived them.A� We distinguish between core values and practices; the core values dona��t change, but the practices might.A� Wea��ve also remained clear that profit a�� as important as it is a�� is not why the Hewlett-Packard Company exists; it exists for more fundamental reasons.”A� A� A� A� John Young, former CEO, Hewlett-Packard
How to Construct your Vision
How do you want to see yourself in this business? How do you want people to talk about you and your business after you retire? What values are most important to you? What ideology do you follow in your business?
Managersa�� exercise.A� To figure out what your core values are, imagine that you are opening an office on Mars. You can only take three agents with you on your spaceship. Name those three agents. What are the core values of these agents? Who in your office doesn’t exhibit those values? Why is he/she still with you?
Looking back: Imagine you are at your own memorial, watching from above. What are others saying about you? Whata��s most memorable about you?
Voicing those BHAGs
What is a great goal you would love to accomplish in your business, but really dona��t feel ita��s possible for you within five years? Write it right now.
Why We Dona��t Reach Those Lofty Goals
Is that goal thata��s been eluding you congruent with your core values? What I mean by that is, does that goal feel comfortable to you? For instance, if that goal is that youa��ll make two million dollars, and you dona��t like the feeling of that much money, because your values are aligned differently, you just arena��t going to reach that goal. That, I believe is the reason many of us dona��t reach some of our goals. Those goals arena��t in alignment with our core values.
Herea��s what great motivational speaker Zig Ziglar said about goal-value alignment:
You cana��t consistently perform in a manner that is inconsistent with the way you see yourself.
Fnding your Alive, Powerful Motivation
In my business planning system, I also provide another method to check your motivation.
Click here to get this document.
Ia��m convinced that we reach or dona��t reach our goals based on the intensity of our desire, driven not by cold numbers, but by the warm emotion of aligned values and inspiring goals. Yogi Berra said it well:
Life is like baseball; ita��s 95% mental and the other half is physical.
How to Bullet-Proof your Business Plan for 2017
If youa��re like most real estate professionals, you create some type of a business plan this year. But, maybe it didna��t work for you. Or, maybea��you just didna��t work it! Join us Nov. 8 at 3 PM Pacific time) to get the answers you needa��and the inspirationa��to make a bullet-proof plan for next year.
During this fast-paced webinar youa��ll see:
- Why your plan probably didna��t work for youa��and what to do about it
- How to definitely find out what will work for YOU (not someone elsea��s plan!)
- How to anticipate market shifts (!)
- What to STOP doing in 2017
- What one thing will assure your business plan works
- Bonus: 10 Creative Marketing Ideas for your plan
Included handouts:
- The strategic planning process created exclusively for real estate professionals by Carla Cross
- Review: Your best sources of business
Carla Cross, CRB, MA, is the only real estate professional ever to have had her business planning system published internationally and used by thousands of successful real estate professionals. Carla also has written a business planning program for CRB, leading to the Certified Real Estate Broker designation. Shea��s an acknowledged expert, and has been working with Realtors for over 2 decades, test marketing her planning system and seeing results. Leta��s work together to create an unassailable plan for 2017.
Managers: Youa��ll get tips on how to help your agents create great plans!
Click here for more information on the webinar and to register.
Can You Answer These Business Planning Questions?
By · Comments
Can you answer these business planning questions?
For November and December, I’m featuring business planning. I want to help you get a great plan for 2017! You’ll see complimentary handouts and lots of business planning tips.
See my complimentary business planning webinar, too, coming up November 8.
Click here for more information on the webinar and to register.
Managers: Invite your agents and get these questions answered, too, prior to the webinar!
The three questions:A�
1. What percent of your listings sold in normal market time last year?
2. How much money did you spend on your best source of business?
3. What should you do differently in 2017 to make more money, keep more money, and spend less time?
These are three of the questions we’ll explore in our complimentary business planning webinar. Carla will give you tips on ratios, expenses, and tactics to assure you’re not spinning your wheels in 2017.
How to Bullet-Proof your Business Plan for 2017
If youa��re like most real estate professionals, you create some type of a business plan this year. But, maybe it didna��t work for you. Or, maybea��you just didna��t work it! Join us Nov. 8 at 3 PM Pacific time) to get the answers you needa��and the inspirationa��to make a bullet-proof plan for next year.
During this fast-paced webinar youa��ll see:
- Why your plan probably didna��t work for youa��and what to do about it
- How to definitely find out what will work for YOU (not someone elsea��s plan!)
- How to anticipate market shifts (!)
- What to STOP doing in 2017
- What one thing will assure your business plan works
- Bonus: 10 Creative Marketing Ideas for your plan
Included handouts:
- The strategic planning process created exclusively for real estate professionals by Carla Cross
- Review: Your best sources of business
Carla Cross, CRB, MA, is the only real estate professional ever to have had her business planning system published internationally and used by thousands of successful real estate professionals. Carla also has written a business planning program for CRB, leading to the Certified Real Estate Broker designation. Shea��s an acknowledged expert, and has been working with Realtors for over 2 decades, test marketing her planning system and seeing results. Leta��s work together to create an unassailable plan for 2017.
Managers: Youa��ll get tips on how to help your agents create great plans!
Click here for more information on the webinar and to register.
Age disparity between clients and their agents and what it means to you!
Before you read this, take my true-false a�?exama�� to test what you know about Realtor trends. Click here to get it.
How did you do on the true-false a�?exama��? I didna��t create it to a�?testa�� you. I created it to crush some old assumptions. And, I want to point out what some of these trends mean to you and what we need to do about them.
Every time a National Association of Realtor survey comes out, I eagerly get it. Why? It gives us clues into the trends and directions of our industry.A� There are two major reports that come out yearly or every two years: The Member Profile and the Profile of Buyers and Sellers. I highly recommend you get these reports* and use them to educate buyers and sellers. Youa��ll find you become much more credible when youa��re using statistics from a third party source, instead of trying to convince buyers and sellers youa��re righta��because you know youa��re right!
Note: These reports are available at Realtor.org at a discount for Realtors:
http://www.realtor.org/research-and-statistics/research-reports
Now, leta��s take a look anotherA�of these true-false statements (see my previous blog for the first commentary) Here’s how these statistics are important to you. Ia��ve put the number of the statement before my comments.
- False the median age of a Realtor has decreased. This, on its face is great. But, the median age of a buyer is still 44 years. And, the largest group of buyers (28%) are in the 25 to 34 age group. What does that mean to you? As a manager, youa��ll want to hire those who relate to the target markets you serve. Also, members are starting to retire. (Is this true in your real estate office? How are you going to keep your office fresh and alive?) Those 65 years and over dropped to 16 percent from 25 percent in 2015.
Because only 13% of agents coming into the business are under 30, we have two challenges:
- Because the average age of a Realtor is 53, they are less fluent in social media and even computer skills.
- Because the largest group of buyers is aged 25-34, we have a mis-match between the agent generation and the buyer generation.
Managers: Solve the problem. Hire more younger agents AND those making real estate their first career!
Managers: What are you seeing in your office? In your area? Are these trends borne out there? What are you doing about it?
Complimentary Business Planning Webinar Coming Up Nov. 8–Grab your Seat NOW!
If youa��re like most real estate professionals, you create some type of a business plan this year. But, maybe it didna��t work for you. Or, maybea��you just didna��t work it! Join usA�Nov. 8 at 3 PM PacificA�time) to get the answers you needa��and the inspirationa��to make a bullet-proof plan for next year.
During this fast-paced webinar youa��ll see:
Why your plan probably didna��t work for youa��and what to do about it
- How to definitely find out what will work for YOU (not someone elsea��s plan!)
- How to anticipate market shifts (!)
- What to STOP doing in 2017
- What one thing will assure your business plan works
-
- Bonus: 10 Creative Marketing Ideas for your plan
Included handouts:
- The strategic planning process created exclusively for real estate professionals by Carla Cross
- Review: Your best sources of business (so you know what to keep doing and where to stop spending marketing $$$$$)
Managers: Youa��ll get tips on how to help your agents create great plans!
Click hereA�for more information on the webinar and to register.
Affiliates: You’re welcome to invite your agent and manager clients!
Every time a National Association of Realtor survey comes out, I eagerly get it. Why? It gives us clues into the trends and directions of our industry.A� There are two major reports that come out yearly or every two years: The Member Profile and the Profile of Buyers and Sellers. I highly recommend you get these reports* and use them to educate buyers and sellers. Youa��ll find you become much more credible when youa��re using statistics from a third party source, instead of trying to convince buyers and sellers youa��re righta��because you know youa��re right!
Before you read this, take my true-false a�?exama�� to test what you know about Realtor trends. Click here to get it.
How did you do on the true-false a�?exama��? I didna��t create it to a�?testa�� you. I created it to crush some old assumptions. And, I want to point out what some of these trends mean to you and what we need to do about them.
Note: These reports are available at Realtor.org at a discount for Realtors:
http://www.realtor.org/research-and-statistics/research-reports
In the next few blogs, I’ll discuss some of theseA�true-false statements and show how theya��re important to you and your agents. Ia��ve put the number of the statement before my comments. Let’s tackle #11 first, since it’s time to review your business for last year (2016) and help your agents put together their business plans for 2017.
- According to the survey, a total of 32% of a Realtor’s business came from past clients and referrals. Doesna��t that seem like very low numbers to you? In fact, 29% of Realtors said they got NO repeat business! That means, as a real estate owner once told me, a�?That agent is in the business one year twenty times.a�? And, even more shocking: 21% of Realtors said they got NO business through referrals! And, the median was only 18%.
Do you know what your agents’ sources of business numbers are? If youa��re a committed real estate agent, you should be getting 70%+ of your business fromA� past clients and referrals. Measure your sources of business right now, and make a plan to capture ____% of your business from these best sources for 2017. Join me in my complimentary business planning webinar on Nov. 8 and I’ll tell you what I think a ‘safe’ number would be as a goal.
Complimentary Business Planning Webinar Coming Up Nov. 8–Grab your Seat NOW!
If youa��re like most real estate professionals, you create some type of a business plan this year. But, maybe it didna��t work for you. Or, maybea��you just didna��t work it! Join us Nov. 8 at 3 PM Pacific time) to get the answers you needa��and the inspirationa��to make a bullet-proof plan for next year.
During this fast-paced webinar youa��ll see:
- Why your plan probably didna��t work for youa��and what to do about it
- How to definitely find out what will work for YOU (not someone elsea��s plan!)
- How to anticipate market shifts (!)
- What to STOP doing in 2017
- What one thing will assure your business plan works
- Bonus: 10 Creative Marketing Ideas for your plan
Included handouts:
- The strategic planning process created exclusively for real estate professionals by Carla Cross
- Review: Your best sources of business (so you know what to keep doing and where to stop spending marketing $$$$$)
Managers: Youa��ll get tips on how to help your agents create great plans!
Click here for more information on the webinar and to register.
How to Motivate the “Tough Case” Agent
By · Comments
It’s getting toward the end of the year. It’s time to coach again, so I’m featuring coaching tips this month.
Here’s how to motivate the ‘tough case’ agent.
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
Motivating in an On Fire Market
Do agents actually slump in a great market? Of course. They sit around and watch others’ success and wonder what’s wrong with them. But, in my experience, few have the ability to analyze what’s going on and actually make a plan for effective change. 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.
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. Click here for a complimentary consultation.
If You’re Coaching: Are You Really Motivating?
By · Comments
If you’re coaching: Are you really motivating? This month, I’m focusing on coaching. Why? Because we have one more quarter to reach our goals. Coaching is proven to help all of us stay focused and get what we really want!
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 our agents into the market with confidence–and tenacity!
Motivational Methods Must Change
In his revealing and surprising book, 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: 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
More about effective motivation today:A�I’ve taken these new motivational techniques straight to the real estate industry with my new speaking presentation,A�Light ‘Em on Fire: Newest Motivators to Inspire your Team. Email me for information on bringing this inspiring presentation to you.
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. Click here for a complimentary consultation.