Council of Real Estate Brokerage Managers

Who Wants to be Accountable?

2009-09-06T09:38:00.002-05:00

Gosh, those are dreaded words for most people, or are they? Accountability, what’s it really mean? According to Webster’s Online dictionary, accountability means an obligation or willingness to accept responsibility or to account for one's actions.” Read what Wikipedia says about accountability:
Accountability is defined as "A is accountable to B when A is obliged to inform B about A’s (past or future) actions and decisions, to justify them, and to suffer punishment in the case of eventual misconduct".[1]
[1] Schedler, Andreas (1999). "Conceptualizing Accountability". in Andreas Schedler, Larry Diamond, Marc F. Plattner. The Self-Restraining State: Power and Accountability in New Democracies. London: Lynne Rienner Publishers. pp. 13–28. ISBN 1-55587-773-7.
The funny (or sad) thing is, in a business where we should strive for accountability on a daily, weekly and quarterly basis, very few if any of us do incorporate accountability into our workplace. Why? Why do we make accountability so difficult or “dreaded” as I referred to in the first paragraph? I believe the main reason we don’t institute good accountability programs in the workplace is that most people hate failure, and when we fail to meet up to our goals and expectations we feel a sense of a letdown to ourselves, our family and the organization. If we could somehow shift the failure aspect into a positive, it would work! How can we do this? Easy, instead of asking “why” ask “what.”

Don’t say – “Why didn’t you prospect this week? You said you we’re going to call on [x] number of new prospects, why?

Try – “What could you do differently this week to help you meet your goal of [x] new prospects?

I believe as managers and brokers we have to shift from the failure aspect to more of a coaching method. Use the defeats as ways to learn and grow. Make it clear from the outset that all of us will fall short or our goals and desires, but that doesn’t mean we can get back up and keep going. I love the old saying, “it’s not how many times you get knocked down, but how long you stay on the floor.”

Finally, for brokers and managers, accountability to your team is required and essential for your team to grow and prosper. Make accountability a coaching session and make sure you set time aside on a regular basis to help your team with accountability. For larger organizations (and even smaller groups) allow individuals to partner up with the accountability process. Make sure that these small groups meet regularly and encourage helping them and meeting on occasion to facilitate and assist with the accountability process.

There are some excellent books on accountability if you need to research more, and if you would like a copy of my accountability scorecard I’ve created to help with implementing this at your office please send me an e-mail and I’ll be glad to forward it to you at no cost. John@RealEstateTechGuy.com.

For more help with accountability visit www.RealEstateSalesMeetings.com.

Who Are the Top Web Sites?

2009-09-05T12:39:00.002-05:00

According to the Web site Alexa, the top ten web sites on the Web are:

Google
Yahoo
Facebook
YouTube
Windows Live
Wikipeda
Blogger.com
MSN
Baidu (Chinese Language Search Engine)
Yahoo.co.jp (Japanese Version)

Interesting information for Real Estate Professionals. First, are you using YouTube and Yahoo Video to promote your listings? If not, do so today! Second, are you posting your blogs at Blogger? Gosh, I use to post there but then quit. Maybe it's not a bad place to blog if it's in the top 10 web sites used.

You can find out more by going to http://www.alexa.com/topsites.

Also, if you want to know how to "Create FREE Virtual Tours and Post them to the Web, check out our FREE Webinar this week from www.Computaught.com. To sign up, click here! You'll discover some cool ways to create virtual tours for FREE, with FREE software and your existing digital camera.

Posted by - John Mayfield (The Real Estate Tech Guy) www.RealEstateTechGuy.com

Coffee's Brewing - And It's Strong!

2008-08-19T12:17:00.005-05:00

Brokers, owners and managers - it's time to wake up and smell the coffee. The coffee of social media.

While many in our industry were early risers and grabbed their cups first, much of the industry chose to sleep in, not awakening to the power of blogging, podcasts, social networking, micro-blogging – just some of the tools of Web 2.0 that make up the genre of social media – until the aroma became nearly overpowering. Now it seems, those of us that hit the snooze button are getting to the pot after the coffee has lingered on the burner a while. And that overpowering smell has awakened a large number of real estate professionals.

Thousands of agents are currently blogging, but tens of thousands more will be participating in coming months, posting their blogs on hundreds of sites. Even more will be creating profiles on social networking sites like Facebook, MySpace, Plaxo and LinkedIn. Legions of real estate professionals will be posting on Twitter, placing photos on sites like Flickr, or offering their audio commentary on anything and everything on Utterz. Our associates seem to be grasping the new Web 2.0 order of business and hoisting their coffee mugs. Are we in the brokerage ownership and management arenas going to be the last ones to the coffee pot?

It’s time we understand these new tools and what they can do for our business. How, if used effectively, they can expand our marketing reach, increase our speed of communication and further our brand. We need to understand how they can reduce expenses and attract new customers. And we certainly need to become a resource for our associates to turn to for advice on using these tools.

But we also have to understand what these tools can do to our business if not monitored or managed. Left unchecked, unmanaged, or unmonitored, these tools can offer certain elements of risk – read liability – that could hold disastrous results for our business. We need to develop policies and procedures (with the involvement of our associates, legal counsel and management team) to address and manage these tools proactively. Without a proactive strategy on managing these tools, we’re likely to become another industry headline.

And that headline won’t have anything to do with coffee.

Future posts planned: effective social media strategies in real estate; developing policies and procedures to address social media use in your office; applying consistent branding practices in social networking.

For further information, please visit www.TheRealEstateNetwork.ning.com, a free social networking site for those in the real estate industry.

What Do Your Agents Want?

2008-06-27T17:00:00.007-05:00

Pretty simple question really. What do your agents want? Hmmm? Have you thought about it. It isn't an unreasonable question, or a hard question - it's just a question that deserves and begs an answer. However the industry norm is for us to design one-size-fits-all offices that will service the masses. Sometimes we even attend a conference, a class or network with peers and collectively copy each others best practices not even taking into consideration that the best practice might or might not fit your agents, retention plan, company culture, recruiting strategy or overall profitability of your firm. Over the years I have spoken to so many failing brokers that chose to "do it their way" caught up on the wind of a new idea or practice of another.

Back to our question....what do your agents want?

Over the last week there has been much dialogue on this topic on the real estate blogs. Especially one blog and subsequent post that was authored by Teresa Boardman, a Keller Williams associate broker in the Twin Cities. Teresa received numerous comments and feedback from agents and brokers all over the country. This week she updated the blog with another post in which she states exactly what she is looking for in a brokerage. Both posts give considerable insight into the mind and emotions of a typical agent. Not to say that Teresa is "typical" as she is an independent thinking, tech-savvy agent who operates remotely from the office. Take a few moments to visit the AgentGenius blog and her first and second posts by clicking on the highlighted words (active links).

After reading the posts you might find that you do not agree with Teresa, yet again, perhaps there are several points you do agree with or that might you have an "aha" moment. How would you know what your agents want?? Do they tell you?? Are they demanding?? Do they put a slip in the proverbial suggestion box?? "Well, Jonathan, I'm a broker that is "in tune" with what my agents want?" Oh really? Unless your office is bugged, you have several internal "moles" or hidden webcams in the ceiling - chances are that you don't know that you have some disgruntled, disappointed and disillusioned agents in your midst.

Here's another question.....when was the last time you asked them what they wanted? I know, you're most likely afraid to ask it, aren't you? Perhaps you're afraid that you'll open a can of worms or Pandora's box? Just how could you accomplish this?

There are many ways, but here are just a few:

1. An Internal Survey

2. Agent Focus Groups

3. Virtual Suggestion Box

An internal survey is easy enough. Just send out a 10 to 20 question survey on an annual basis to your agents. Ask about training, staff, culture, atmosphere, responsiveness, policies, procedures, equipment, marketing.....any number of things, but remember to keep it short and sweet. You can deliver this through an online service such as SurveyMonkey or Zoomerang.

Have you ever attended a focus group or have you been called on to give your comments or responses to a user-group? 1000's of companies worldwide utilize external and internal focus groups to design marketing plans, products, systems and strategic plans. Yet focus groups are rarely mentioned in real estate environs. Take a cue from the Fortune 500 who wont make a major decision without the needed research. Your office should be no different. Focus groups are just that.....groups focused....on a particular idea, area of consideration, plan, etc. You want their feedback, you need the research. Host such a group of selected members or several groups selected by interests, talent, specialty or production. I've utilized this method for every major marketing or product decision that I faced while running a multi-billion dollar real estate firm. Agents want to tell you, they want their voice heard and it speaks volumes about your culture if you just pose the question and provide the process to give them voice.

Create a virtual suggestion box. How?? I'm sure you have email, right? Just set up another email account at yourcompany.com. Perhaps name it: creativeideas, winningsuggestions or agentsspeak. Announce the creation of the virtual suggestion box at a company sales meeting, by email and by memo (remember it take at least three to five touches). Please remember to tell everyone that this is a complaint box, gripe box, soap box, etc. This is for positive feedback and ideas. If they have a gripe or complaint they can present that in person. Don't be upset if agents don't bombard you with emailed suggestions. In fact, you'll get very few, however you've done something that will impact the culture of your organization. Even if you never get one suggestion, you've provided the agents with a system to tell you what they want. They will realize this - especially if you keep the system in front of them and don't sweep it under the carpet.

In closing, a qualified consultant can help you with all of these methods. By using a consultant you'll elicit a more objective, forthright response from your organization. Agents will say things to a third party that they wouldn't say to your face. Consider utilizing the services of a professional if you'd really like to get inside the minds of your agents.

Managers: What do Agents Owe You?

2008-06-26T18:46:00.001-05:00

We read article after article about how to attract and keep agents. We learn how to do recruiting presentations that we hope are mesmerizing to our candidates—so mesmerizing that they’ll say yes when we offer them a position in our company. We hone our skills so we’re better managers, trainers, and coaches. We worry about retention, and spend thousands of dollars a year just to attend workshops on retention techniques. We spend thousands of dollars on retention! So, I’m going to turn the tables, and ask, what do those agents owe to you?

You work hard. If you’re an owner, you’ve also put thousands and thousands of your dollars at risk to start and run your real estate company. It’s my opinion that agents owe you in certain ways. I’m not talking about commissions. I’m talking about actions.

Mutual Expectations Exchanged in the Interview

The real estate industry is the only industry I know that hires with a “trust me” from both the manager and the agent. No mutual expectations here, just promises! It may have worked in the past, but it won’t work in the future. A challenging market means we’ll have to do things differently. Right now, make a list of what you expect—and have a right to expect—from an agent. Draw up a Mutual Expectations agreement. Go over that agreement in the interview. Get it signed. Doing it after you’ve hired the agent is way too late!

Consequences of the Mutual Expectations Agreement

Worried about retention? This is one of the best retention tools in the world—hiring agents who promise to go to work! Your experienced agents will love the fact that you’re not hiring dead-wood to just get in their way and pull down the reputation of the company. Your new agents will get right to work, because they understand that is the expectation. Will you miss hiring a few people? Sure--the ones that didn’t intend to go to work.

Doing My Best to Help you Out

Last year, Dearborn Publishing Company published my third edition of Up and Running in 30 Days, the business start-up plan for the new agent. I’ve added as much management support in it as I possibly can, including a Mutual Expectations agreement that is tied to the Up and Running 4-week business start-up plan. This plan expects a lot from the new agent, but I know, from my surveys, that the new agent expects a lot—fast—from the business! (That’s why it’s such an aggressive ‘get out there and run’ program—perfect for a challenging market, too). I thought you’d enjoy reading my take on what new agents should contribute to their manager (and their office):

Ten Commandments to Get the Best from your Manager

Do the work.
Don’t argue.
Don’t make excuses.
Don’t tell the manager you’ve been in the business two weeks and you have a better way.
Do thank your manager.
Do tell other agents that you appreciate your manager’s efforts.
Do tell other new agents you meet in other companies that you have a great manager.
Don’t bug other people in the office to find another answer because you didn’t like your manager’s answer.
Don’t change the program because you don’t like it.
Don’t miss a coaching appointment!

I’d love to hear what you think of my ‘ten commandments.’ Are there others you think are important? Why not make your own ten commandments and discuss them in your interview process. Then, turn the tables and ask the agent about his expectations of you and the office. Getting agreement on what we both expect before we decide to work together is key to a happy partnership. The only surprises I want you and your agent to have after you start working together are good ones!

Carla Cross, CRB, MA, is president of Carla Cross Seminars, Inc. and Carla Cross Coaching, specializing in real estate sales and management. Cross, an international speaker and coach, is the author of 6 internationally published books, 20 productivity programs, and is a winner of the National Association of Realtors’ National Educator of the Year award. Contact her at www.carlacross.com or 425-392-6914.

Technology, It Does Your Schedule Good!

2008-06-19T13:21:00.007-05:00

OK first, I apologize to the Milk people for using a variation on their famous campaign. Secondly, WAIT A MINUTE! Technology?? Even though technology and REALTOR have shared the same sentences since the 80's, it was never good! We'll, most of the time is hasn't been so. Now remember, it wasn't too long ago that we thought the sky was falling and technology would be putting us out of business. Just like the day the fax machine was first delivered to my office in 1988. Though some still pontificate the possibilities of it destroying our existence. I digress....

So here goes....technology can do much good for your business if it is utilized as a tool to make you more productive, efficient and balanced. Now there's a paradigm that should be embraced. Technology can either crowd out things that matter by consuming your time, or it can be harnessed. Question is who has the control? Technology or you??

Here's a tool that I'm completely sold on: Jott. If you've not experienced Jott, you're in for a treat, but the real question with any new technology is how to implement it into your routine to actually make you better at what you do. It is easy with Jott. I've shared this little jewel for over a year now in classes, seminars and with clients. Go to http://www.jott.com/ to find out all you need to know. For the purposes of this post I thought I'd share a few of my favorite uses.

If you've ever known a REALTOR who drives with one knee, drinks their coffee and text messages all at the same time while careening down the highway at 70 miles an hour - then you've probably met my wife. (sorry Dee) And yes, in the interest of full disclosure - I'm guilty too. Jott is so perfect for this scenario. Just call 1-866-JOTT-123. The voice says, "Who do you want to Jott?" You answer, "Agents!" Jott then confirms you said agents....then you hear a beep. Go ahead, don't be shy....send a message to your agents. Something like....."Hello everyone! At tomorrow's sales meeting we'll be sharing with you our new minimum standards program. Plan on being there early as I'm sure we'll have a packed house." Within moments, all of your agents will get a text message and email referring to a message from you. The voice message will be transcribed into text for all your agents to read, and there will even be a link in the message that will allow the agent to hear you in your own voice. Wow....that saved some time. Now, as an aside, I really do think you should talk to them about Minimum Standards at the next meeting. See Carla's earlier post on the subject. If you leave them that exact message through Jott....I promise a full house. Just in case, you might want to have security present at the meeting as well.

But WAIT, there's more! With Jott you can create groups of people like: potential recruits, vendors, agents, sellers, buyers, past clients, friends, family, soccer club, etc. You can now communicate with all of them with one message, or you can send individual messages one-by-one to people in your contact list. Jott also provides with the ability to have departmentalized lists. For instance a to-do list for business, home, assistant, etc. You can Jott yourself reminders to each of those lists for future follow-up. With a headset, traffic and your starbucks in hand -Jott can keep your insurance bills down too! (This statement has not been endorsed or reviewed by the management of Jott or your insurance agent.)

The latest and greatest from the fine folks at Jott is the ability to add "feeds" to your account. So now I can subscribe through "feeds" (think RSS for the bloggers out there) to my favorite information, blogs, websites, news, weather, etc. While I'm driving to the office I can have Jott read me all of the updates that I choose to subscribe to. No more mind-numbing moments in front of the computer reading every one's blogs, updates, twitter, etc. Better yet, if you are a blogger like me, you'll find that you can dictate your entire post to Jott and it will magically appear anywhere you direct it to post to like: facebook, twitter, blogger, wordpress and many more.

Enough said, I think I've proven that this can be a great tool. Give it a try and let me know what you think. Think of all the uses like: recruiting, office announcements, to-do lists, reminders, praising agents, etc. Now go forth and implement....uh, er....Jott!

Agents: What Do You Owe the Company?

2008-06-16T14:27:00.003-05:00

I’m not talking about the commission splits. I’m talking about a much more significant contribution. You’re a new member of your organization. Has the organization asked anything of you? It should, if there is pride in belonging to the organization. Surprisingly, though, today many companies either have no standards or don’t communicate to their associates that there is a fairness issue—an exchange of responsibilities and accountability so the company and all its associates are better from the affiliation of the newest associate.

Mutual Expectations Exchanged in the Interview

My Take on What Agents Should Contribute to the ‘Team’ and to the Manager

Last year, Dearborn Publishing Company published my third edition of Up and Running in 30 Days, the business start-up plan for the new agent. I’ve added as much management support in it as I possibly can, including a Mutual Expectations agreement that is tied to the Up and Running 4-week business start-up plan. This plan expects a lot from the new agent, but I know, from my surveys, that the new agent expects a lot—fast—from the business! (That’s why it’s such an aggressive ‘get out there and run’ program—perfect for a challenging market, too). I thought you’d enjoy reading my take on what new agents should contribute to their manager (and their office):

Ten Commandments to Get the Best from your Manager

1. Do the work.

2. Don’t argue.

3. Don’t make excuses.

4. Don’t tell the manager you’ve been in the business two weeks and you have a better way.

5. Do thank your manager.

6. Do tell other agents that you appreciate your manager’s efforts.

7. Do tell other new agents you meet in other companies that you have a great manager.

8. Don’t bug other people in the office to find another answer because you didn’t like your manager’s answer.

9. Don’t change the program because you don’t like it.

10. Don’t miss a coaching appointment!

I’d love to hear what you think of my ‘ten commandments.’ Are there others you think are important? Agents: What do you think the company should expect as your contribution to the betterment of everyone? What should the manager expect from you?

Let me know! I’m working with companies internationally now to help them create pride in association, standards of practice, and the kind of performance expectations and measurements that have clients jostling to be served from ‘one of the best’.

Successful Companies Do It, So Why Don’t Managers Lead with Standards?

2008-06-16T14:20:00.005-05:00

In these challenging markets, much of my work has been with management teams, designing actins that move their offices into profitability. I’ve identified three strategies that managers are failing to implement that cause them to go into the red. The most glaring mistake I see managers making is that they don’t have performance standards in place for their offices. What are performance standards?

Minimum production standards

How well (competency) one performs certain tasks

Do You Know Any Great Companies—of Any Type--Without Standards?

It constantly amazes me that real estate companies don’t have production standards. Would you buy a car from a car maker that didn’t have pretty high production standards for how they constructed that car—and how they service it? Of course not. Would you buy a home from a builder who had just thrown the home together with little regard to production standards (that would be very low standards)? Of course not. Would you buy a home from an agent who was a lousy agent? Of course not.

Three Reasons Companies Need Production Standards

It’s a recruiting magnet (who doesn’t want to be with the best?)
It’s a production incentive (who doesn’t want to stay with the best?)
It’s a performance enhancer (we all do better when we’re around better performers)

Would You Join a Real Estate Company that had Lousy Agents?

Only if you were a poor agent! Likes attract, and good agents know they will do better with other good agents. Good agents are attracted to a company that’s ‘picky’—that doesn’t just take or keep just anybody. Think of the recruiting opportunities companies miss because they don’t have production standards in place……

Pride of Belonging to Something Exceptional

Think of an association, family, business, club—that you were proud to belong to? Did that entity have low or high standards? High standards, of course. Not only do you have pride of belonging, you know that you must maintain those standards to maintain membership!

Question of the day: If Production Standards Have all These Benefits, Why Don’t Companies Embrace Them?

What do you think? Email me and let me know. From my coaching leadership, I’ve found that leaders

Don’t understand the power of standards
Think they actually have standards (when they don’t)
Are afraid of setting standards

From taking over 2 failing real estate offices and one floundering region for one of the world’s biggest real estate franchises (and turning all of them around), I know the steps it takes to turn a red bottom line into a very healthy black one. Let me know your feedback about standards, so we can help the industry put pride of ownership and pride of performance back into our industry.

The Secret Component of Highest Productivity

2008-05-29T11:38:00.002-05:00

A few months ago, I was a speaker again at the NAR 2007 convention. (I think that was my 16th year!) I talked about the four components of ‘new’ leadership. Why is switching leadership style so important? The world has changed, and, if you’re an agent or a manager, you need to lead effectively in all situations (lead your clients, lead your fellow agents, lead your team). And, there’s one style component that has a huge impact on both culture and productivity, yet few of us realize it:

1. Standards-driven organization: In almost every presentation I do for leadership, I ask attendees if they have productivity standards (minimum expectations) in their companies. Out of 200 attendees, about three will raise their hands. No wonder agents don’t believe they must be ‘on the team’, pulling their own weight in production. No wonder managers are wondering how to get their agents to go to work. No wonder there are challenges recruiting and retaining! No wonder agents are having great challenges attempting to get their buyers’ agents to pull their load. And, no wonder agents are wasting time with buyers who won’t buy and sellers who overprice!

How to Assure no One will Work very Hard

Having no standards de-motivates. In a recent study by The Ripple Effective of Negativity Leadership IQ, 87% of the 70,305 executives, managers, and employees interviewed said working with a slacker actually made them want to change jobs; 93% said it hampered their development or decreased their productivity. So, without standards, real estate leaders are de-motivating their good performers!

Here’s what Roy Disney says about effective leadership, from the New Leadership Paradigm:

Leadership is the ability to establish standards and manage a creative climate where people are self-motivated toward the mastery of long-term constructive goals in a participatory environment of mutual respect compatible with personal values.

There are many theme parks, but they aren’t Disney. What is the difference? One huge difference, and you know this if you’ve visited various theme parks, is that Disney has high standards.

Agents: What would it mean to your time management and bottom line if you had high standards for your clients? (Studies show that top producers qualify carefully and ‘tell the truth attractively’ to both buyers and sellers, so they don’t waste anyone’s time).

Agents: See my new for 2008 program, On Track to Success in 30 Days System for Experienced Agents. It has a 30 day program with standards that assure your success.

Managers: See the coaching system for On Track to Success, Managers' On Track to Success Coaching for Experienced Agents. I’ve given you dozens of tips on how to create standards and hold agents accountable to standards and goals.

Real Life has Standards

A few months ago, I hired a personal fitness trainer. Do you think she has standards? You betcha. Are they higher than I would like to exert myself? You betcha. Is this making me more fit? Right again. It’s true any time we get coached. Our coach always urges us to do more than we would be willing to do on our own. So, we get better faster.

High Standards has a Positive Message

Working with people with high standards sends a message to each one of us:

You’re worth it. You can do it. I believe in you.

Obviously, you would not be working with that leader if that leader didn’t think you ‘had it’, would you? That belief drives us to do much better than we thought we could do. It’s inspiring. And, in this challenging real estate market, we need all the inspiration we can get! So, we’re all in leadership, whether it’s with our clients, with other agents on our team, as a manager, or as a parent. Setting standards and encouraging meeting them is the greatest gift you can give to someone—or can give yourself.

Experienced Agents: From ‘On Accident’ to Successfully ‘On Purpose’ in Challenging Markets

2008-05-29T11:34:00.002-05:00

If you’re an experienced agent, you may have gotten the shock of your life this year: Instead of selling homes like hotcakes, you’re slumping like watery syrup drifting off pancakes! I know why: The hot market brought you sales ‘accidents’, and you capably help those people buy and sell. But, in a challenging market, people don’t just ‘turn themselves in’. It’s time for you to get ‘on purpose’.

Do you have the ammunition to change from ‘on accident’ to ‘on purpose? Here are 10 questions that will reveal whether you have the plan and the support to pull yourself out of that slump and provide yourself the insurance plan that allows you to thrive—no matter the market:

1. Do I have a ‘start-up’ plan—a plan that tells me what to do, when to do it, how to do it, and why to do it? (Or, do I just come to the office and ‘go with the flow’)

2. Am I waiting for someone to tell me what to do each day, or do I have focus and purpose with my plan? (it doesn’t work to ask your manager what to do each day, and, as a newer agent just told me, your manager answers, “Mail some postcards.” You wouldn’t expect a Starbucks franchise to ‘guide’ the new franchisee that way, and you’re not going to get a business start with that kind of piecemeal ‘advice’!)

3. Do I have a daily schedule that is prioritized with the business actions most important to me to assure I make money? (If you’re just relying on your office for its floor time and meeting schedule, you aren’t in the business!)

4. Do I know the best methods of lead generation—and how to implement them? (You can’t wait for ‘training’ that starts in 3 months to start your business!)

5. Do I know the numbers? (how many contacts does it take to get a lead, how many leads to get an appointment, how many appointments to get a listing, showing, how many showings to get a sale, how many marketable listings will sell) (If you don’t, you are destined to be an ‘on accident’ agent—only selling someone something when the stars are aligned).

6. Do I know how long it will take to get a sale? To get a listing? To get a listing sold? (so you can project your income) (New agents tend to wait, and wait, and wait, to get into the business ‘stream’, thinking that there is no time frame to buyers’ decisions—wrong!)

7. Do I have a method of setting goals and tracking accomplishments in the areas above—so I can analyze my specific strengths and challenges in this business? (Most agents never track what they do, so they don’t know what worked—or why what they’re doing isn’t working).

8. Do I have a budget so I know how much money I should be spending in marketing myself/marketing my listings?

9. Do I have someone to talk to regularly, to coach me, to keep me on track, and to help me if I fall off my start-up plan (to keep me from failing)?

10. Do I have a method to keep myself motivated and inspired to keep on keeping on (like a coach or your manager)?

If you can’t answer the questions above with authority and confidence, you need much more business direction than you’re getting now. It’s time for you to get serious about real estate as a business, and grasp a start-up plan and the support you need to assure your success.

Resource: See Up and Running in 30 Days, www.carlacross.com. It’s a comprehensive new agent start-up plan with enough training to get you into the field, and focused, starting with your first week in the business. It answers all the questions above. Most people would call it a ‘business plan’, but it’s not. It’s specially created as the appropriate ‘start-up plan’ for the new agent, just as all successful franchises provide their start-up plans for their new franchisees.

Managers: My survey of hundreds of agents under 3 months in the business showed that the majority expected a sale their first month in the business. Guess in what month they are mentally and emotionally out of the business? Month two.

Especially in a challenging market, it’s your job to provide them a comprehensive start-up plan and coach them to it, to assure your investment in them pays off—and their investments in themselves pay off, too.

Seasoned but Stuck: How to Get your ‘Mature’ Business Back to ‘Monster’ Status

2008-05-21T12:23:00.001-05:00

Excerpted from the new On Track to Success in 30 Days System for Experienced Agents, Carla Cross Seminars, Inc.

If you have been in the business for over five or eight years, chances are you are acting like a 'mature' agent. You are getting most of your business from repeat and referrals. You have built up a strong enough business that you do most of your business based on pre-built trust and confidence. You are admired in your office (and perhaps your whole company) for your leadership and mentorship.

The challenges of the ‘mature’ agent. Because the mature agent gets most of her business from referrals, she may not be prepared to compete against more aggressive agents—or agents trained with the latest presentation methods. This happened with one of my mature agents, Martha. She was referred to George and Betty Smith, who wanted to sell their home. But, George and Betty also were referred to John Schlock, of ABC Realty.

Martha knows John Schlock, and she thinks his last name is appropriate…... Of course, though, she can not say this to George and Betty. Martha's in kind of a bind here. She relies on word-of-mouth for her business, and she relies on this word-of-mouth building her credibility to the point where she has no need to build it herself. This works fine when she is not competing with another agent, and the sellers already think she is the best thing since sliced bread. It does not work so well when she is competing with another agent—especially one who will tell the client whatever they want to hear!

Martha relies solely on her ‘known’ reputation. Martha has no testimonials in writing, no Professional Portfolio, no visual marketing presentation, and no statistics systematized to teach George and Betty the principles of how real estate works. Why not? Because, Martha does not need these credibility-builders very often, like those newer agents need. And, when she does, it is too late to create them.

This ‘mature business’ attitude results in lost listings or over-priced listings. This makes Martha mad, but, to do anything about it, Martha would have to admit she needs to quit acting like a 'mature' agent and push herself back into the growth phase. Just like Taurus, she needs to 're-tool' herself. You, dear reader, may be like Martha. Congratulations on taking the risk to even look at your business today. Many ‘Marthas’ in real estate are just waiting out the inevitable--their descent into decline.

What to be aware of if you are in the 'mature' career phase. With real estate practice changing so dramatically--so fast--I think, for companies, offices, managers, and agents, this 'mature' phase is the most dangerous. The danger of lulling ourselves into complacency in our 'mature phase' is that, without our knowing it, we have slipped into decline. So, to find out if you are in the mature phase, ask yourself:

Am I relying almost solely on old customers and clients to send me referrals? (and am I waiting for them?)
Am I relying almost solely on my reputation to list properties at the right price?
Am I losing listings, or pricing them too high, when I do not have strong enough credibility with sellers?
Am I resisting putting my credibility statements in writing (and/or my marketing program) because I rarely need to establish my credibility?
Have I introduced a new business practice into my business in the last two years?
Have I looked at my business as though I was a new agent--in the last two years?
What is my attitude about technology? Am I waiting for it to 'go away'?
If I had to sell my business tomorrow, could I? (Do I have the systems in place that someone could take over? Do I have my database in top condition? Do I have all my marketing programs running at full speed?)

The Mature Agent’s Need? Re-generation and Motivation*

How does someone re-generate oneself and motivate oneself again? For the mature agent, it is putting those talents and skills to work for others. You need appreciation and compliments. You need to know you are needed. You need to know you are making a difference. Consider teaching and coaching others, taking part in Realtor® events, gaining a leadership role in your company. It is time for you to flex those dormant leadership skills, which will re-energize you and your career.

*For more tips on re-energizing your career, see the new On Track to Success in 30 Days System for Experienced Agents, which includes a 4-week re-generation plan for dramatically increasing your business.

The Ten Dumbest Things New Agents Do

2008-05-07T16:30:00.000-05:00

We all want success easily. We all want to ‘do it our way’. And, if we’re honest, in our quest for easy success, we’ll all done dumb things. That is, we realized they were dumb—after the fact. So, just because I’m picking on new agents here doesn’t mean I haven’t done many more than just ten dumb things! I’m listing these here, though, to help you avoid the mistakes I made as a new agent, and the mistakes I’ve observed thousands of new agents make over the years I’ve managed, trained and coached.

Some dumb actions don’t cost us much, but, when an agent fails, it costs money to everyone—agents, offices, and consumers. It’s estimated that it costs a manager $15,000-30,000 for every agent hired who fails! So, that agent isn’t a profit-center, she’s a cost center! In addition, an agent who fails spends at least $5000-15,000 just in ‘subsidized living’ and real estate expenses the first three months in the business. Finally, the consumer loses, because the agent is out of the business before serving the consumer.

Heads Up

New agents don’t come into the business to fail. But, they don’t realize the effort and skill it takes to succeed. In addition, there are increasingly difficult challenges for new agents:

The gap between consumer expectations and agent performance is widening quickly and dramatically. New agents must have better training, coaching, and commitment from their brokers.
The market in most areas has become more challenging, so new agents can’t get those ‘easy sales’.
The committed, career-oriented agent is taking much more of the market share.

It’s estimated that 50% of new agents fail and get out of the business in their first year, and 75% are out in two years. That seems to me a huge waste of resources—and a huge contributor to that expectations gap I listed above. We need to stop that attrition now. So, new agents, here are the ten dumb things I’ve seen thousands do to fail themselves right out of the business:

Thinking that there are lots of ways to start the business. There aren’t. Real estate sales is sales, and sales is a numbers game.
Thinking they don’t have to lead generate, because they’ll “do it differently.” Don’t talk to people consistently and in great numbers and you’ll be flipping burgers before you know it! (Not that there is anything wrong in flipping burgers, but you won’t be “selling real estate”.
Thinking that their manager or office or the Internet will supply them leads. If that were the case, your commissions would be much smaller.
Thinking that this business is about tasks and technology. It’s not. It’s about people relationships.
Treating the business like a ‘next’ business. It’s not about finding and selling a customer. It’s about finding and keeping the customer for long-term referral business.
Starting the business part-time, with no ‘drop dead’ exit plan from your other work. I know. I started part-time, but, within three months, I realized that I could not serve my consumer honestly when I had to run to another job. The truth is that you just don’t care much about the consumer if you’re not committed and working a real estate at least 50 hours a week. If you have to start part-time, give yourself a deadline to become full-time. Managers, don’t hire without that dead-line in writing. You’ll be wasting your time training and coaching.
Not getting a commitment from your manager that he/she will consistently and frequently coach you to a game plan. If your manager can’t rise to that level of commitment, how successful to you think your manager intends you to be? (Side note to managers: I believe you need to be 100% committed to your agents, or else the likelihood they will fail is 100%. Use a precise, consistent, proven game plan like the 3^rd edition of Up and Running in 30 Days to put your agent to work, and coach your agent with Managers: Putting Up and Running to Work, now in its 3^rd edition to match the new, expanded agent’s start-up plan.)
Thinking that the best commission plan is the best place to work. As the old song says, “Nothin’ from nothin’ is nothin’.” You need to sell lots of real estate—lots and lots of real estate. Choose the place where you think that will happen. New agents who figure out they only have to sell three homes a year to pay those fees are thinking like losers.
Not investing in the business until they ‘get successful’. When would that be? Why do you get to be successful without an investment? With that attitude, how are you going to compete with those great agents—and how are you going to meet those amazingly high consumer expectations?
Going into the business to see if they like it. I’ll bet 50% of new agents don’t really go into the business to make it a career. They go into the business to ‘try it out’. If that’s your attitude, how do you expect your manager and your company to be 100% committed to you, when you’re 25% committed?

A Great Manager Plus a Great Plan Plus Accountability = Success

Harsh words above, but true. If you want to succeed, find a great manager who will coach you and hold you to a start-up plan. Find a manager who will tell you the truth—even when you don’t want to hear it! Find a manager who is 100% committed to you, and you will be one of those 50% who survive their first years, and go on to great careers.

Carla Cross, CRB, MA, is president of Carla Cross Seminars, Inc. and Carla Cross Coaching, specializing in real estate sales and management. Cross, an international speaker and coach, is the author of 6 internationally published books, 10 productivity programs, and is a winner of the National Association of Realtors’ National Educator of the Year award. Contact her at www.carlacross.com or 425-392-6914.

Caution: Merger Ahead!

2008-04-30T20:07:00.005-05:00

The other day I was surfing the net (that is code for avoiding the things that really need to get done) and ran across the new Honda Coupe website www.why-merge.com. I have to admit that I was a little curious due to the title alone. Of course the website is a great Gen Y marketing tool and had a great irreverent undertone. After clicking through a couple of pages I began to think about the application to real estate - especially in today's market. Why merge? Interesting. Why would a company want to do that, not to mention - now?

What better time to concentrate on the subject at hand. We're obviously in a market that has caused broker/owners to consider why the heck they are in this business. Others are realizing that there really is a reason why they are called: BROKE-ER.

It's no secret that financial pressures are taking their toll on some organizations. Yet others are humming along still churning out single to double digit profits. Yes, their profits are down from historic highs, but through the proper financial planning they were prepared and are now surviving. Surviving in order to take advantage of this market by growing their operations. Fold-ins, acquisitions, mass-recruiting are all road signs of our industry, no matter where you're located.

No matter how many times I've broached this subject in a consulting meeting with a brokerage owner, I typically get these same excuses:

1. No one is for sale.

2. No one will talk to me.

3. It takes too much money.

4. It won't work in this market.

These are all myths that are unfounded and based upon a lack of knowledge of exactly how and exactly what to do in a merger/acquisition scenario. After all there is a great big unknown out there, sadly made larger than life by fear. Of all the mergers, acquisitions, fold-ins, buy-outs, exit strategies that I've been involved in or helped orchestrate as a consultant, I've only seen a handful require any substantial money upfront. No different than a seller carry-back mortgage, many brokerages are transferred under similar terms. Thereby providing a long-term income for the selling party. Of course, fold-ins typically require zero investment other than an override and attractive split for the broker/manager who is folding in their operation.

Reasons #1 and #2 above are easy to overcome. A couple of years ago I was consulting with a brokerage firm in the Ohio Valley. The owner was looking to grow her operation through recruiting alone and had never really thought about acquiring market share through an acquisition. After educating her on the merits of such a strategy, she gave me the old #1 and #2 and added a couple of other reasons why it wouldn't work. I asked her to move forward in blind faith. Here's what we did. First, write a letter to the offices that fit the acquisition profile: selling brokers, small Ma & Pa, rumored financial problems, agent unrest, tired management, etc. Let them know that you are excited about the prospects of the market and would love to entertain discussions about how we can accomplish more together than as individual companies. Go on to pay a compliment and let them know that you would welcome a conversation to explore opportunities to work together. Confidentiality assured, of course!

The Ohio Valley broker did just that the following week. She sent out a dozen letters in her small town - where no one would ever entertain selling out, and received 5 immediate responses that resulted in the acquisition of two local competitors. All as a result of a little 3 paragraph letter that took no more than 10 minutes to write. I guess some of the owners that gave me the excuses in the past were right. It really doesn't work.........if you don't try it.

Musings on Talent: Why We Lose it and How to Find it to Prosper

2008-04-20T23:57:00.002-05:00

As a lifelong musician, I’ve noticed that few adults realize the talents they have. So, I’d like to talk to you about your talents—and what you’re planning to do with them this year. No, it doesn’t matter if you’re an agent, a manager, or staff. We all have talents, those unique sets of gifts that somehow came together in one personality with your name on it. Now, don’t tell me you don’t have talents. Everyone does. Sometimes, they just don’t know it! Or, more often, they discount their gifts, not realizing how valuable and powerful they are.

Everyone teaches us something.

Once when lots of bad things had happened in my life, I read several books about why we were on earth, and what was the point to all this. One of the authors said we were here to teach others something. Having been the daughter of a teacher, and doing some teaching myself, that seemed a good way to look at it. As I decided to write this to you, I started thinking about what various people in my life had taught me. As you’re reading this, you’re thinking, probably, of those stand-out mentors you had in your life. It’s easy to see what they taught us. But, let’s think of some unlikely candidates.

My uncle Bud, for one.

Bud worked for my dad, never married, was an alcoholic—and a nice guy. He died when he was 45. So, what gifts did he have? What did he teach us? When Bud was a little boy, his teachers said he was dumb. Later on, it was discovered he wasn’t dumb. He just couldn’t see. So, Bud didn’t go to school much, and besides, his parents wanted him home to work on the farm. Bud drifted through life, working and drinking, and ended up in little Lebanon, Oregon, working for my dad.

Similar Physical Limitations, Different Outcome

My mother, who also had eye problems her whole life, started out much like Bud, unable to see well. But, her parents got her the best medical care available so she could do the best with the sight she had. Her parents encouraged her scholastics, so she was able to skip a whole school year that she’d missed because of her eye operations and go into second grade, barely skipping a beat.

Bud and my Mom—Great Teachers

Some people weren’t very nice to Bud. But, my mother felt great compassion and empathy because of their similar eye conditions. Every day Bud would have lunch with us, and I watched my mother interact with Bud, showing him respect, while others didn’t. That made me curious. I started to learn other things about Bud. Even though he had been teased and berated as a kid, (and later, too), I observed that he was kind and thoughtful to others. I also found out he was very musically talented. My mother’s interest and compassion in Bud showed me that everyone has unique, sometimes undiscovered talents. Sometimes their situations teach us what we need to learn, even in an oblique way. Watching Bud and my mother interact taught me to appreciate others’ struggles and find compassion for them, no matter their situations.

By our actions, we are teaching every day. Make it the best lessons.

I hope, by this time of year, you have written business plans, set your goals, and are prepared for an exceptional 2008. But, there’s much more to achievement that the ‘hard’ information. I wanted to have a different way of helping you create the best YOU there is! All you need to do is to develop those gifts, those talents--and have the confidence that you can do it. So, expand your scope a bit, and decide on the gifts and talents you are going to use next year to help others. That will provide the fire and enthusiasm you need to push yourself to that next step, to be the best, excellent you that you were really meant to be. Here’s to that YOU!

Carla Cross, CRB, MA, is president of Carla Cross Seminars, Inc. and Carla Cross Coaching, specializing in real estate sales and management—the people issues. Cross, an international speaker and coach, is the author of 6 internationally published books, 20 productivity programs, and is a winner of the National Association of Realtors’ National Educator of the Year award. Contact her at www.carlacross.com or 425-392-6914.

Investing in Yourself: What’s your Best Investment and What Should You Expect from It?

2008-04-09T14:08:00.001-05:00

Real estate agents are really in business for themselves. That means, as any business owner, they must invest in themselves. But what and how much? I’ve been pondering the relative investments companies and agents are willing to make in their successes. Unfortunately, many of the moneys and effort expended don’t seem to show any pay-off in sales or retention (more than 50% of new agents fail in their first year in the business, and I estimate that less than 10% of new agents make a sale in their first three months in the business). I’ve been asking myself:

What investment, if any, should the new agent make in himself? (Managers must be asking themselves, “If these failure rates are so high, does any investment make a difference?”)

What investment, if any, should a manager/company make in the new agent?

What investment is most important?

How would the new agent know that it’s worth the money?

I know that new agents and managers are given sales ‘spiels’ every day about how some technology or method is critical for the new agent. I want to ‘arm’ the new agent and the manager with some really tough questions to ask, and to answer honestly, before spending money on any method, technology, or service.

Tough Investment Questions

So, if you’re a new (under 1 year) agent, or a manager who hires new agents, I have some tough questions for you:

Why do you think most new agents fail?
What one thing would prevent this failure?
How much would you be willing to invest to avoid this failure?
Right now, which investment the company is making in new agents has a measurable pay-off in fast sales per agent? For retention of successful first year agents?
For any investment the company or manager makes: Can you measure the results? (If not, don’t invest in it)
Managers: How much is it worth to you to invest in a new agent to assure the agent makes a sale within three months? Within one month?
Managers: For agents who fail, how much money, effort, motivation, and team spirit did you lose? How much did it cost you in recruiting?

After you answer these questions, ask yourself: “If I were a McDonald’s franchise, what would be the one most important thing I would get from the franchise?” Answer: A start-up business plan with a systematic approach to building the business, coupled with strong, committed leadership to hold the franchisee accountable to the plan.

Bottom line: Investing in a start-up plan with high accountability (you can bet the McDonald’s consultants hold the new franchisee to a very high performance standard!) assures a much higher rate of success—and it’s measurable. Is it worth $100, $1000, or $3000 for you to avoid failure? It’s up to you to decide, and invest your dollars in the best method possible for you to assure business start-up success—fast enough that you stay motivated and inspired to handle the huge rejection and challenges new agents face.

Carla Cross, CRB, MA, is president of Carla Cross Seminars, Inc., and Carla Cross Coaching. Her 3^rd edition of Up and Running in 30 Days, the new agent’s start-up plan, is the only internationally published plan available to give new agents specific prioritized action plans to lead to a sale in 30 days. It’s coupled with the manager’s coaching companion, with dozens of tips on how to coach new agents to a fast sale. See them at www.carlacross.com, or contact her at 425-392-5914. Also, Carla speaks to real estate associations and companies internationally on increasing productivity.

Are you ‘Wringing your Clients Dry’ for Leads?

2008-03-26T17:02:00.000-05:00

We all love it when some seminar guru tells us we just have to take care of our present and past clients and we’ll get rich. The first part of that statement is true. We DO have to take care of our present and past clients, and that’s an important part of re-creating our business. And, the sad truth is, many real estate agents do a very poor job of that. So, we do start there.

Real Estate Agents May not have enough Clients to Get the Leads they Need

Here’s where the difficulty comes in. In many instances today, a real estate agent, even a seasoned one, does not have enough past clients to provide the necessary leads to grow his business in a challenging market. My experience, having been a top salesperson, and directly managing hundreds of salespeople, has taught me that the truth is in the numbers. You must have at least 100 active, identifiable past clients, in your up-to-date database, to drive your business upward. And, in some markets, that may not be enough.

Other Exceptional Sources of Leads for the Experienced Agent

In my new resource for the experienced agent, On Track to Success in 30 Days System for Experienced Agents, I’ve worked really hard to help experienced agents see where they’re ‘missing the boat’. Too many get stuck in a career rut. Or, they may put barriers in front of themselves that keep them from reaching that next career level. Besides helping them put their careers under a microscope to find solutions, I’ve also provided solutions that work in this challenging market.

In the new On Track, I have identified 5 sources of leads for you that most agents never think of. They are especially good for experienced agents, because you have been in the business and you have a wealth of knowledge and experience. Putting these sources of leads into your lead generation and marketing plans will dramatically increase your business. In this article, let’s talk about the first source, the ‘client orphans’.

In this article, we’ll explore how to contact the first course, the client ‘orphans’.

The Good and Bad News about those Orphans

What are client ‘orphans’? These are buyers and sellers who closed transactions with an agent in your office. The agent has left the business. Now, the client has no one to turn to. You can step into this breach. If you need business, and are willing to create and implement a marketing plan to reach out and communicate or time with these ignored people, you can ‘adopt’ them. Who is keeping in touch with those ‘orphaned’ buyers and sellers? No one.

Orphans May be Unhappy with the Company

Be aware, though, they may not be too accommodating when you first talk with them. They are disappointed that someone has not cared enough about their interests to keep in touch. (This is a great lesson to all of us. Never, ever, love ‘em and leave ‘em!).

Note: A recent survey showed that less than 1/3 of agents who closed transactions went back to the buyers and sellers they worked with AFTER the transaction closed. No wonder clients think we love them and leave them. We do!

How to ‘Adopt’ Those Orphans

When someone leaves your office, go to your manager and get a list of their 'orphaned' buyers and sellers. Call those people, and explain that the manager has asked you to keep in touch. They will be thankful and appreciative. You will gain another source of business, and the industry's image (and the company’s image) will be maintained--or raised.

Manager’s tip: Create a system to re-assign those orphaned buyers and sellers to an agent willing to form a relationship with them. If you do this regularly, you will save lots of marketing dollars (remember, it costs 6-9 times more to get a new customer), and you will increase your company’s reputation as a company who cares. Also, you will provide lead sources regularly for your agents.

Building your Business AND the Reputation of the Company and Industry

You and I both hate it when a client says the agent didn’t get back to them or keep in touch. Many times, that’s because the agent was either an uncommitted part-timer or out of the business. By adopting client orphans, you can prove that real estate agents care more than just a commission. This not only raises your image, but the image of your company and of the industry. Plus, it provides you another source of ‘leads’ who learn to love you.

What Mode are Your Agents In?

2008-03-26T13:18:00.001-05:00

Noted author and speaker Seth Godin posted the following on his blog today:

“You can have grand visions for remodeling your house or getting in shape, but if there's a fire in the kitchen, you drop everything and put it out. What choice do you have? The problem, of course, is that most organizations are on fire, most of the time.”

An interesting point that Godin brings up, and for many real estate professionals and agencies the statement is true. Yet, most agents tend to spend the bulk of their time thinking about what they’re going to do, and telling their selves the market is going to turn around soon, then I’ll get busy with my real estate plans. The reality is, there’s a fire in your kitchen, and you need to put the fire out now! Case in point, my own business www.RealEstateSalesMeetings.com is a new venture I started where I provide weekly sales meetings, audio interviews and more to brokers around the country. One way I thought to help build my business was through blogging, podcasting, and other free promotional ventures on the World Wide Web. I started out in full speed, posting, recording, adding new twists and turns everyday through these “free” electronic mediums. The results were amazing, but like most normal business professionals I began to pile more “to do’s” on my plate, allowed myself to be pulled into other directions, and the fire which was once under control and remodeling that was off to a “great” start quickly died. I lost my focus and my sense of urgency to continue with my task at hand.

So I have two options with my new business venture:

1. Tell myself that the plans and drawings for my newly remodeled kitchen will be awesome, “someday.”
2. Fix it!

As real estate professionals if you want to succeed, you must always be in mode #2, (fix it). Telling yourself what the outcome will be like is okay, if you’re busy and hard at work fixing it, however if you’re just sitting there dreaming and thinking about it, the project will never get finished. Listen to how Seth Godin finishes his blog on this subject of “Managing Urgencies,” and follow his advice:

“Add up enough urgencies and you don't get a fire, you get a career. A career putting out fires never leads to the goal you had in mind all along.
I guess the trick is to make the long term items even more urgent than today's emergencies. Break them into steps and give them deadlines. Measure your people on what they did today in support of where you need to be next month.
If you work in an urgent-only culture, the only solution is to make the right things urgent.”

To read Godin’s entire blog, click here!

How to Demolish your De-motivators—and Achieve your Goals

2008-03-17T14:59:00.000-05:00

Excerpted from On Track to Success in 30 Days System for Experienced Agents,

Carla Cross Seminars, Inc.

Carla Cross, CRB, MA

It’s a tougher market out there. It can get you down. We all need tools right now to demolish those de-motivators. In other words, we must not only manage our business, we must manage our attitudes.

Why is managing attitude important? Because it determines how well you do.

Ability is what you’re capable of doing.

Motivation determines what you do.

Attitude determines how well you do it.

-Lou Holtz, famed former Notre Dame football coach

In this article, I am going to give you methods of organizing your thoughts so that they support your roadmap for success. You will be able to recognize when your thoughts sometimes order you around. You will get strategies to get control of your attitude--and order it around--to create greater success.

Much of my insight did not come from the experience of being a real estate agent, manager, and trainer. It came to me from all those years I spent as a musician, honing my performance skills so I could obtain a bachelor’s degree in piano performance. From the time I was four, I was in front of people playing the piano. I had to learn to manage my attitude to conquer the performance anxieties and uncertainness that accrue from tackling very difficult piano pieces in front of demanding audiences. So, much of what I will share with you here is a result of mastering musical performance. I know how to get better, and I will show you how to manage your attitude so you can get better, too.

I have identified eight challenges that sabotage us from reaching our desired results:

1. Not being mentally tough

2. Thinking it’s someone else’s job to manage our attitude

3. Blaming someone else for our failures, which leads to loss of power

4. Underestimating what it takes to do the job

5. Mastering negative ‘self-talk’ until it determines our attitude, beliefs, and outcomes

6. Believing that the first time we do something is as good as it will ever get.

7. Thinking that our ‘inner manager’ is always working in our best interests.

8. Always ready with a reason why we don’t have to get into action.

Are you tough enough?

Let’s tackle the first component here: mental toughness.

You and I both know keeping a positive outlook is a very important component for real estate success. Yet, I have found that very few of the agents who go into real estate have the ready-made mental toughness to withstand the disappointments and rejections of the business. Sometimes they fail simply because they let their attitude manage them! It seems to me that most agents (and managers) could benefit from some additional skills in learning to manage attitude. I think these skills can be learned. Just listen to great athletes talk about their failures, injuries, and disappointments. They simply never give up!

Managing your attitude is part of your job. In interviewing hundreds of agents after they have been in real estate several months, most of them tell me that they did not know real estate would be so personally challenging. They did not know how easy it was to 'get down'--or how quickly they could lose that excitement, that enthusiasm they felt as a new agent.

Think back to when you were a new agent. How long did that initial excitement, enthusiasm, and hope last? According to my survey of agents new to real estate, they expected to make a sale their first thirty days in the business. Most of them do not accomplish that. So, if their expectations are not met, they lose that enthusiasm.

Most agents tell me it only took them about a month to start questioning themselves about whether they should be in this business. Since they did not realize they would have so many ups and downs, they were not prepared to deal with the 'downs'. Unfortunately, then, they talk themselves out of the business--and do not even know they're doing it! Knowing and applying what is in this section, then, can make the difference between success and failure in your career.

Manager’s tip: The best way for you to help your agents stay ‘up’ is to start them in an aggressive start-up plan so they get a sale fast. That is motivating!

Put a Plug in that Negative Self-Talk!

Remember when you were a kid. Did you ever want to take part in a sport, or learn a musical instrument? Or, did you want to start a venture or an adventure? Why did you want to do it? What did your parents say when you told them what you wanted to do? How strong was your motivation to do it? Did you convince your parents? Did you actually start? Did you keep going? What happened when, to get better, you had to devote more energy, time, and interest to it?

Looking back at your life in this area will tell you a lot about your intuitive sense about yourself. It will tell you how much belief you have in yourself, how much tenacity, how much ability to take direction from someone else to get better. It will tell you how willing you are to take risk and to change.

Now, fast forward to real estate. Have you taken your intuition, body, and soul into the business like you did in this youthful venture? If not, you need to have a serious talk with your inner manager. He may be stopping you from 'acting naturally'. That talk might sound like this:

"Now, Joan, I know we've been together a long time. You've done a good job overall giving me advice. However, you're kind of in the dark ages about me now. I want to be successful in this new adventure, real estate. Remember when you supported me as a kid as I (fill in your adventure). Well, I need your support now. Quit that negative talk about failing, risk, and change. I'm not as scared as you think I am. Give me some pep talks and some laughs and some real positive strokes, like you did before. I need your positive support, Joan."

Exercise: The next time you catch your self talking negative self-talk, counter it with 20 repetitions of positive self-talk. Do this exercise at least 5 times a day for 1 week. You are retraining your mind to respond in a way that supports your goals.

When we go into real estate, we think that learning the inventory, grasping the technology, and attending risk management courses will assure our success. But, as we progress, we find out there’s a whole aspect of real estate that entails our managing more than just the technical parts of the business. You’re on your way, now, to that mental toughness you need to success at a higher level each year.

For more strategies on demolishing your de-motivators and get the emotional support you need to tackle these market challenges, see On Track to Success in 30 Days System for Experienced Agents, Carla Cross Seminars, Inc., www.carlacross.com.

Carla Cross, CRB, MA, is president of Carla Cross Seminars, Inc. and Carla Cross Coaching, specializing in real estate sales and management. Cross, an international speaker and coach, is the author of 6 internationally published books, 10 productivity programs, and is a winner of the National Association of Realtors’ National Educator of the Year award. Contact her at www.carlacross.com or 425-392-6914.

Avoiding Hiring to a Match NOT Made in Heaven

2008-03-12T18:01:00.000-05:00

Have you ever hired someone you thought would be a great staff person? And, then, when the person had been in the job anywhere from a few days to a few weeks, you discovered that person wasn’t doing the job you wanted him to do?

This happened to one of my coaching clients. I’ll bet variations of this story have happened to every reader—and, they’ve happened to me. Here are my client’s five major mistakes, and how to avoid them. It’s so important, because a bad hire costs you not hundreds, but many thousands of dollars!

My client runs a mid-sized real estate company, and, right before starting to coach with me, had decided it was time to hire an office manager/administrator. As we started working together, she revealed she was having trouble with the office administrator she had hired a few months ago. Here are the five mistakes she made in that hiring process, which assured a wrong hire:

1. Not finding out what that person did—exactly—in his last job

Never assume that your new staff person knows the job you are asking him to do.

2. Not hiring to a detailed job description

Both parties, the new office manager—and the owner—assumed they knew the job description. But, unfortunately, the owner found out that the new hire obviously didn’t know the right job description—because he was doing only a part of the job—the part he had done in his prior employment.

Caveat: Create that detailed job description before you start interviewing. DO NOT ask the new hire to create the job description! If you do, you will be stuck in an adversarial position fighting about the job to be done. It’s your job to hire. You create that job description! (See The Complete Recruiter and Blueprint for Selecting Winners for detailed interviewing processes).

3. Not getting mutual expectations in writing before hiring

The new hire in this ‘case study’ went blithely about doing what he liked—when he liked it. The time to get mutual expectations agreed upon is prior to hiring—and get them in writing. It’s funny how people forget what the boss expects!

4. Not explaining standards vs. goals

Employees will tell you they have goals—what they want to accomplish. You are impressed! After all, you want someone who has goals to accomplish. You are so impressed, you forget to draw that line in the sand (well, it’s not really a line in the sand—it’s a line in concrete). That line in the concrete represents your standards—what you will and won’t put up with. Those are your minimum expectations. This is the Fear Factor.

The principle: We all work past minimum expectations. In the absence of your stating any, you’re letting your employee name his own—which are probably lower than yours—unless you’ve hired a very exceptional worker!

5. No schedule for daily accountability for the first two weeks

“I don’t want to be ‘micro-managed’.” Having someone accuse us of “micro-managing gets us in the heart. And, that is exactly what the low-achieving staff person will say. You are paying too much attention to the detail. Well, guess what? If you don’t pay attention to the details in the first two weeks, that staff person is going to do the job any darn way he pleases! And you won’t like it. So, don’t think of it as “micro-managing.”* You are training that staff person to do the job the way you want it done. Your goal is to see enough training progress that you can stop the daily reports and go to weekly reports.

Armed with these 5 principles, you can make much better hiring decisions and grow your company with confidence. Remember, as Jim Collins in Good to Great says, ‘getting the right people on the bus’ is the most important decision you’ll make to be more productive and profitable.

Full Coaching Scholarships Just Announced For Newer Agents

2008-03-12T18:00:00.000-05:00

Agents under 2 years in the business: Do you believe you can be ‘best of the best’, brightest of the brightest—that future super-star—but you just need a boost in the right direction? Is this challenging market showing you more than you thought it took to succeed? If this is you, we’ve been looking for you!

Managers: Do you have a great newer agent (under 2 years) who you would like to support by nominating him or her for a full coaching scholarship?

The Up and Running Small Group Full Scholarship

During the first three weeks of March, we’re taking applications for 5 full scholarships we will be awarding to five fortunate agents under 2 years in the business. This is a $795 value—and we’re doing it to give back to our industry—and help those best and brightest succeed at the highest level—fastest. The scholarship includes 12 coaching sessions with a professional real estate coach, plus $470 worth of training materials and services.

Click here to read the full description of our Up and Running Small Group Coaching program.

To Win a Full Scholarship

Complete the application (click here) and email it to us by March 21, 2008 (must be complete to be considered). The application includes the scholarship guidelines.
Your broker must also nominate you by completing this nomination form (click here) also by March 21, 2008. The nomination form includes the scholarship guidelines.

The 10 finalists will be chosen and personally interviewed (both the agent and the nominating broker) by our coaches and Carla Cross by March 26, when winners will be announced via email. Your coaching program will start the week of April 14, 2008, so you must be available to be coached starting that week.

Click here to read the rules of Small Group Coaching's Scholarships

Partial Scholarship Finalists

Only 5 great newer agents can win, but, even the 5 non-full-scholarship finalists will receive a $100 scholarship from Carla Cross Coaching when they register for the 12-week program (Regularly $795, a $100 reduction).

Brokers: You Win, Too!

If one of the agents you nominate is chosen as one of 10 finalists, any other agents you register into the program prior to April 15, 2008 (to take part in the programs beginning either April 15 or May 1, 2008) will receive a tuition reduction of $100 (they will register for $695 instead of $795). What a great recruiting tool you can offer agents thinking of joining! So, start recruiting right now!

Don’t hesitate. Complete your application NOW.

Brokers: This is your opportunity to provide the kind of support your agents love from you, and see additional sales and profits from those new agents.

Don’t hesitate. Complete your application NOW.

Brokers: This is your opportunity to provide the kind of support your agents love from you, and see additional sales and profits from those new agents.

**Agent Applications: Grab one at www.carlacrosscoaching.com.

**Broker Nomination Form: Grab one at www.carlacrosscoaching.com.

**Rules of the Scholarship Program: Grab one at www.carlacrosscoaching.com.

Or, call us at 425-392-6914 or email us Debbie@carlacross.com and we’ll email you all the information!

Click here for a printable version

We want to give away $5000+ in scholarships RIGHT NOW to re-energize our industry!!!!!

Leadership: It's Changed, but Who's Going to Tell the Real Estate Industry?

2008-02-25T09:56:00.001-06:00

The guidelines of effective leadership have changed dramatically in the last thirty years. Top-down decision-making is out; participative leadership is in. Having no standards is out; standards-driven leadership is in. Everyone doing their own thing is out; mutual accountability and teamwork is in. Yet, as I look at real estate offices nationally, I see most leaders still leading as though it was 1970—or earlier. (Specific strategies for real estate leadership to use to switch from hierarchical to participative was the topic of my presentation for the 2007 National Association of Realtors’ Convention).

Compare and contrast. Let’s look at four principles of effective leadership today. These principles have been proven effective again and again by huge companies internationally. They should be embraced by the real estate industry, which badly needs effective leadership in this challenging time:

Vision-lead: Few companies have an articulated vision that’s shared by all in the company. Fewer yet have leaders who have the fortitude to ‘do the right thing’ (as stated in their vision), even if it means turning down a deal. Example: When is the last time you saw a manager fire a top producer who acted unethically? How do managers treat customer complaints—especially if it’s against a top producer? (Ask agents if they feel managers unfairly favor the top producers. Boy, will you get an earful!) In too many cases, the ‘leader’ isn’t leading. The big loser long term: The company, because agents are de-motivated when they feel there is not a level playing field, and consumers will seek out new companies if they feel their complaints are not handled seriously. (read Successful Habits of Visionary Companies, Porras and Collins, for stunning examples of vision-integrated companies.)

Everyone is involved in the decisions: This is participative leadership, and it’s the leadership style that is best suited to our real estate industry. After all, with independent contractors, we need strong organizational structures to pull people together. What percent of real estate companies have effective leadership councils, one of the attributes of participative leadership? In my teaching, I’ve found about 2%. What this means it that the vast majority of agents don’t feel it’s ‘their company’, they don’t feel empowered, and they aren’t very loyal.

Leaders will be those who empower others. Empowering leadership means
bringing out the energy and capabilities people have and getting them to work
together in a way they wouldn’t do otherwise.
—Bill Gates, fellow Washingtonian, founder of Microsoft

As you read articles and books on leadership, you will find every successful company today has turned its hierarchical leadership upside down and/or flattened it to become inclusive, participative, and as some people term it-- ‘spiderweb’. (read The Female Advantage, Sally Helgesen).

Standards-driven: During my presentation at last year’s National Association of Realtors’ Convention, I asked attendees if they had productivity standards (minimum expectations) in their companies. Out of 200 attendees, three raised their hands. No wonder agents don’t believe they must be ‘on the team’, pulling their own weight in production.

In a recent study by The Ripple Effective of Negativity Leadership IQ, 87% of the 70,305 executives, managers, and employees interviewed said working with a slacker actually made them want to change jobs; 93% said it hampered their development or decreased their productivity. So, without standards, real estate leaders are de-motivating their good performers!

Here’s what Roy Disney says about effective leadership, from the New Leadership Paradigm:

Leadership is the ability to establish standards and manage a creative climate where people are self-motivated toward the mastery of long-term constructive goals in a participatory environment of mutual respect compatible with personal values.

Mutual accountability: Creating a participative environment suggests that everyone must be accountable to their goals. It’s just amazing that managers are frustrated by agents’ lack of business plans and accountability. Yet, as I coach managers, I find that many in each organization don’t feel they need to be accountable to their recruiting goals. (In fact, only about 2% have written recruiting plans!). In addition, owners have not hired and coached them to standards, so the managers just want to ‘leave that part out’!

What is the result of this leadership paradigm switch? A real team, a team with a common goal. Why is it in the real estate industry’s best interests to adapt to this participative leadership style? To preserve the industry, maintain commissions, add ‘pride in belonging’ back to the real estate company, and, most important of all, put the consumer first, where he belongs!

Note: The Virginia Association of Realtors this year invited me to present my 4-day, clock-hour approved ‘people management’ series for real estate owners and managers. The fourth session is an in-depth symposium on how to implement participative leadership strategies for greater productivity and profitability. For information on providing this high accountability, action-based series to your association or company, contact me at 425-392-6914 or Carla@carlacross.com.
I will help your company or association make the necessary leadership adjustments to pull people together into a real, supportive business team.

Carla Cross, CRB, MA, is president of Carla Cross Seminars, Inc. and Carla Cross Coaching, specializing in real estate sales and management. Cross, an international speaker and coach, is the author of 6 internationally published books, 10 productivity programs, and is a winner of the National Association of Realtors’ National Educator of the Year award. Contact her at www.carlacross.com or 425-392-6914.

Increasing Production

2008-02-23T16:14:00.017-06:00

For most brokers, managers and team leaders, associate production is the Number 2 problem after recruiting. After many years of requiring a yearly business plan from each of my associates, I changed tactics in 2007. The simple and disturbing result of the yearly business plan is after the obligatory meeting with management, the plan lays dormant in the associates file drawer. The broker/manager moves on to the thousand other things needing attention, and becomes concerned with associate business plans one year later. Now, every associate meets with me to present their monthly work plan, an example of which is shown below. Of course, there is nothing very original about a monthly plan, the key is use and accountability.

I forward a copy of the plan document to every sales associate about 4 days before the end of every month, with the same instructions to complete and return their plan to me in person before the end of the month. 75% of the group shows up at my office door without prodding, the rest take a little effort, but everyone meets with me, every month. The advantage is plain, accountability at least monthly with the entire sales staff, with the added bonus of having the opportunity to counsel each associate regarding prospecting efforts, educational needs, and whatever is important to both of us at the moment. After only 6 months the increase in individual production has been striking. The disadvantage is time spent, about 15 to 20 minutes each month with every associate. If your sales staff is large, say over 40, you may not have the time, and will have to delegate. Considering the time most broker/managers spend recruiting and training, it may be worth trading some of that time and improving the production from the existing staff.

Monthly Work Plan

Associate Name: _____________ Plan Month _____Yr_______

Strategy (That which I am trying to accomplish, direction, a Big Goal:

Tactics (What I will do to accomplish the strategy):

Goal 1: Daily Weekly Monthly

Prospecting Time: ______ ______ _______

Contacts Desired ______ ______ _______

Social Networking: ______ ______ _______

Goal 2: What I will do increase my knowledge and capability in the next 30 days:

Last months results:

Listings taken: ____________

Listings sold: ____________

Buyers taken: ____________

Buyers sold: ____________

Total time Prospecting: ____________

New contacts made: ____________

Yearly Goal:

Closed Sides Expected:_____ Closed to date: ______

Desired Income: $________ Income Booked to date: $_____

Formatting issues aside, please feel free to copy or edit the work plan document in any way that works for you.

3 Reasons Why You Should Quit Having Weekly Sales Meetings

2008-02-21T09:59:00.003-06:00

Yes, unbelievably, there are three reasons why a broker would want to quit having weekly sales meetings. Why waste your time preparing, planning and delivering meaningful content to your team on a weekly basis if it is all in vain. On the other hand, is it?

First:

Stop providing sales meetings if you want your team to lose continuity and rhythm. After all, that is what one of the goals of a weekly sales meeting is all about; i.e. bringing together your group to motivate, encourage and inform them with meaningful information. It is a proven fact that a professionally run sales meeting can help boost morale, motivate the downhearted, and redirect the lost. Think about a boxer who has been in the ring battling their opponent for a grueling two minutes, being banged and beat-up back and forth from one set of ropes to the next. In reality, that is what many of your agents go through on a weekly basis in the real world. When the bell rings, the boxer’s retreat to their respective corners to get the necessary requirements from their coaches and trainers to get back out there and to improve on what they were doing wrong in the last round. Without a weekly sales meeting, your team will in essence move from one round to the next without a break, advice, support and nourishment to improve and win the fight.

Second:

It’s okay to quit having sales meetings if you want to break the communication link between yourself and your sales team. Most real estate agents will tell you that a big part of their frustration with a company or organization is the lack of communication. “No one told me,” is a sentiment often overheard from within the inner walls of the office talk. Unfortunately the lack of communication leads to a feeling of discontent and that “no one cares about me,” to discouragement and ultimately changing companies or leaving the business. Weekly sales meetings help bridge the gap and foster strong communication ties between the company and the agent. Let’s face it, people want to know what’s going on and being informed shows you care and are concerned about everyone on the team owning a part and being involved in what is happening with the organization.

Third:

Stop your weekly sales meetings if you believe everyone in your organization already knows everything there is to know about real estate and the real estate economy. Let’s face it, why waste your time trying to teach others if they already know all there is to know? Unfortunately, when you take that attitude you’re destined for a fall! I love the quote by Malcolm S. Forbes, “Education’s purpose is to replace an empty mind with an open one.” Whether you agree with it or not, people want to learn new and exciting things. Real estate is an ever-changing industry and with changes comes the need to help our group and colleagues lean and improve on knowledge and education.

What’s Next?
First, don’t quit offering weekly sales meetings that is unless you want to follow the truths outlined in each of the three reasons noted for quitting your weekly gatherings. Second, don’t feel like you have to spend a lot of time preparing and planning for weekly sales meetings. There are many good companies like http://www.realestatesalesmeetings.com/ where you can subscribe to receive weekly meetings, browse the large database of published meeting content, and be ready to motivate and encourage your team with little or no preparation at all. Finally, remember that sales meetings provide that weekly opportunity for you to connect with your group, and to coach them on through their real estate journey. Don’t concentrate on the numbers in attendance, but the quality of your meetings. When you begin hitting homeruns each week during your weekly sales meetings those in attendance will tell others, and before long you’ll have a room full of agents eagerly awaiting your agenda!

Would you like to receive a couple of free weeks of sample sales meetings from my company http://www.realestatesalesmeetings.com/? If so, send me an e-mail and I will put you on my mailing list to participate in my free offer. Send your request to John@RealEstateSalesMeetings.com.

The Number 8 Means What?

2007-12-22T13:22:00.000-06:00

Hey, it's 2008, and do you know what that means? New beginnings! That's right, the number 8 is referred to as New Beginnings! In fact, 8 stands for a lot of positive facts when you do a little research. Here's the bottom line, 2007 is almost out of here and 2008 (A New Beginning) is around the corner. Whatever you didn't get in 07, it's okay, because 08 is here and it's time for a new beginning. I'm sure you've heard the saying, God gave us two eyes in the front of our heads so we could look forward, not "backwards!"

So make 2008 a great year, look forward as real estate professionals to new and exciting ways to make your organization grow and prosper. I have a "wonderful" sales meeting I prepared asking the question to your team, "Do You Have The Right Gas in Your Tank?" If you would like to have a sample copy of this sales meeting, send me an e-mail to John@RealEstateSalesMeetings.com and request the "FREE" sample Sales Meeting!

Remember, 2008 is a "New Beginning!" Best of luck to you and your organization in the New Year!

NAR 2007 Echo

2007-11-20T16:44:00.001-06:00

If there was one echo I heard throughout the NAR conference this past week in Las Vegas it was a need for real estate agents to return to the "basics!" As many speakers, brokers and other well thought of real estate professionals noted, agents need to get back to some of the fundamentals of salesmanship. Yes, our industry did enjoy several good years and because of this windfall, many people entered our business without having a clue of what selling was all about. Now that our market has cooled off, it's time to get serious and more focused on listing and selling real estate. To accomplish this requires a little bit of old fashion salesmanship.

I believe real estate brokers need to preach this to their team on a regular basis. For those who want to survive the tide, try some basics 101 Salesmanship and watch your business take off!

Fall = Business Planning

2007-11-06T10:12:00.000-06:00

A reminder that Fall is a “great” time for real estate agents and brokers to begin thinking about 2008, and to develop, construct and revise their business plans. Recently I conducted a phone interview with Carla Cross (Business Planning Consultant and Expert) and she shared with me several interesting insights on business planning for real estate brokers/managers and their real estate agents. I would love to share this audio interview with any of our readers. Simply send me an e-mail to John@RealEstateSalesMeetings.com and I will forward you the link.

Visit Carla's site at www.CarlaCross.com for all of her great tools for business planning.

How Bad is the Real Estate Market?

2007-11-05T21:22:00.000-06:00

I am beginning to hear many real estate agents finally talk about how bad the real estate market is. That’s not to say I haven’t heard the gloom and doom from offices and agents, but the talk of a bad has been spoken in some locations. There were always those few who insisted things were not really that bad, and that their business was actually up over last year. Now, reality has set in for most real estate agents that I come in contact with around the country. The funny thing is when you compare the economic conditions of today with those from the late 70s and early 80s; our real estate market today is not that bad. In fact one could say today's economic environment is quite attractive when compared to the early 80s. Back then, real estate professionals not only had to battle economic conditions of high unemployment rates and other inflationary items, but we also had to deal with high interest rates. I remember closing several real estate loans where interest rates were 17% and 18%. Today there are many properties for sell, and very few buyers. Back in the early 80s, there were not only a lot of properties for sale, but very high interest rates. You really couldn't blame buyers for not entering the real estate market in the 80’s because of the price to borrow funds. Today, we have low interest rates and a large supply of inventory which actually makes for a perfect buying environment for consumers. Unfortunately many of our homebuyers are staying away from the housing market because of the fear the news media has placed upon our country.

So my question is this; how do brokers and agents combat the bad media hype? First, I believe we should remind our agents that the real estate market is not as bad as it may appear to be. It's important to note that interest rates are still low, and buyers can get much more for their money than they could several years ago.

Brokers must also remember that now is the time to motivate their team and meeting on a regular or weekly basis for sales meetings is important. As a broker there are many avenues and sources for uplifting stories that can encourage and remind your staff that this too will pass.
Brokers need to spend more one-on-one training with their agents listening and discovering what areas of help these agents need. It's also a good idea for real estate agents and managers to begin to revise and look at their business planning. If an agent already has a business plan now is a good time to revise that plan. Real estate professionals should also begin to look at new ways they can make their businesses grow for the future. Revising action plans, setting in place checklists and systems as well as developing a marketing plan are all good items to consider when the market is slow.

Finally, agents should remember there is still business to be found even in a tight market. What I found to be prevalent in the early 80s was a weakening of the competitive forces in my marketplace. Many agents began to get discouraged or drop out of the real estate business and those who were willing to continue to work hard, prospect and look for new business were able to survive and make a good living. I'm reminded of my mother's comment that she always made around our real estate office: all sunshine makes a desert! So as I started the blog with a question; “How bad is the real estate market?” The answer could be, yes, it may not be the same kind of market we've experienced over the last few years, but overall and compared to other slow economic times in our Nation’s history, our real estate market is probably not that bad. Continue to encourage your agents to stay optimistic, to read positive books, listen to good motivational tapes and prospect for new business. If everyone will continue in that same vein, you're sure to weather the storm.

Sales Meetings

2007-08-13T18:11:00.001-05:00

Are sales meetings essential for real estate office's? If so, how often do you feel brokers/managers should conduct real estate sales meetings and how long should a typical sales meeting last?

I have a passion for studying and researching sales meetings for the real estate office, and would love to hear what others have to say about this topic.

Why Should The Broker Use A BLOG?

2007-07-13T16:24:00.000-05:00

The broker can benefit greatly by using the BLOG. One of those benefits is moving the Brokers Website to higher position on the Internet Searches. This is a part of the new Algorithm for SEO (Search Engine Optimization). We'll talk about this in a future article.

How can we continuously add articles to our BLOG and not be a full time job for the Broker? One way is to find out which agents in the office enjoy writing and then allow them the opportunity to write articles for the BLOG. Next thing is, what should be written about? This is the simple part. The agent wants to be known as the expert and what better way to show your expertise than writing articles. Talk about the Market Area, Preparing a House for Sale, Choosing an Agent, Financing Tips, to mention a few. There have been times when there have been negative reports that affect your market area that aren't true. You can use your BLOG to correct those negatives and bring in the positive. Give it a try.

The Broker needs to set an example for the rest of the office. By creating an Office BLOG, the Broker is setting the pattern for the agents in the office. The agents can start by writing articles for the office and then as they start their own BLOGS, they can use the articles in both the Broker’s BLOG and their own as well. The Broker could have incentives for the agents that write articles that produce the most comments.

Getting started in the BLOG world is very easy. Best of all, you can start with no investment other than your time. There are two BLOG engines that could be used and cost nothing. Later as you develop in expertise, you can transfer the BLOG to your own hosting company and still use the BLOG engine. The two engines that I’ll mention here are http://www.blogger.com/ and http://www.wordpress.com/. There are dozens of engines to choose from, but these will get you started very quickly and fit anyone’s budget. Today, there is no excuse not to have a BLOG. You’ll also find that it can be a lot of fun too!

by Dr. Eugene R Gibbins, ABR/M, AHWD, CIPS, CRB, CRS, e-PRO, GRI
DrEugene@Gibbins.com

What The Broker Needs To Know About Phishing!

2007-06-08T18:18:00.000-05:00

A rapidly increasing problem among internet users today is Phishing. Brokers need to be prepared to deal with this issue, not only with their brokerages, but also to help educate their agents. In this article, I will be using “CompanyABC” for the name of some of the companies that used in Phishing e-mails. Note that the company names used are well known but have become innocent victims themselves. Some of these companies are CitiBank, PayPal, and Capital One to mention a few. Pay very close attention to your incoming e-mails and everyone will be happier.

What is Phishing?
Phishing is a form of fraud designed to steal your identity. It works by using false pretenses to get you to disclose sensitive personal information, such as credit and debit card numbers, account passwords, or Social Security numbers.
One of the most common Phishing scams involves sending a fraudulent email that claims to be from a well-known company. Phishing can also be carried out in person, over the phone, through fraudulent pop-up windows, and websites.

DEFINITIONS
Phishing (pronounced “fishing”): Fraudulent emails that request or initiate a scam to get sensitive personal information.
Spoof Site: Fraudulent sites – usually linked from a Phishing email – that look like well-known websites.

How Phishing through email works.
1. Mass Email
2. Phishing Email
3. Fraudulent Website

A fraudster will start out sending thousands, even millions, of emails to different mail accounts disguised as messages from a well-known company. The typical Phishing email will contain a concocted story designed to lure you into taking an action such as clicking a link or button in the email or calling a phone number. Learn how to spot a fraudulent email.

In the email, there will be links or buttons that take you to a fraudulent website. The fraudulent website will also mimic the appearance of a popular website or company. The scam site will ask for personal information, such as your credit card number, Social Security number, or account password.
You think you’re giving information to a trusted company when, in fact, you’re supplying it to a criminal. Learn how to spot a fraudulent website.

Questions A “CompanyABC” will never ask you in an email.
To help you better identify fake emails, “CompanyABC” follows strict rules. The “CompanyABC” will never ask for the following personal information in email:

Credit and debit card numbers Bank account numbers
Driver's license numbers
Email addresses
Social Security Number
Passwords
Your full name

Things to look for in scam email and websites.
Fraudulent email and websites are designed to deceive you and can be difficult to distinguish from the real thing. Whenever you get an email about your “CompanyABC” account, the safest and easiest course of action is to open a new browser, type https://www.a“CompanyABC”.com, and log in to your “CompanyABC” account directly. Do not click on any link in an email that requests personal information.

How to spot a Phishing email.

There are many telltale signs of a fraudulent email.

Sender's Email Address. To give you a false sense of security, the “From” line may include an official-looking email address that may actually be copied from a genuine one. The email address can easily be altered – it’s not an indication of the validity of any email communication.
Generic Email Greeting. A typical Phishing email will have a generic greeting, such as “Dear User.” Note: All A“CompanyABC” emails will greet you by your first and last name.
False Sense of Urgency. Most Phishing emails try to deceive you with the threat that your account will be in jeopardy if it’s not updated right away. An email that urgently requests you to supply sensitive personal information is typically fraudulent.
Fake Links. Many Phishing emails have a link that looks valid, but sends you to a fraudulent site that may or may not have an URL different from the link. Always check where a link is going before you click. Move your mouse over the URL in the email and look at the URL in the browser. As always, if it looks suspicious, don't click it. Open a new browser window, and type https://www.a “CompanyABC”.com.
Attachments. Similar to fake links, attachments can be used in Phishing emails and are dangerous. Never click on an attachment. It could cause you to download spyware or a virus. A “CompanyABC” will never email you an attachment or a software update to install on your computer.

How to spot a spoof (fraudulent) website.
A Phishing email will usually try to direct you to a fraudulent website that mimics the appearance of a popular website or company. The spoof website will request your personal information, such as credit card number, Social Security number, or account password. You think you are giving information to a trusted company when, in fact, you are supplying it to an online criminal.

Deceptive URLs.
Be cautious. Some fraudsters will insert a fake browser address bar over the real one, making it appear that you’re on a legitimate website. Follow these precautions: Even if an URL contains the word "A “CompanyABC”," it may not be a “CompanyABC” site.

Examples of fake addresses:
http://83.16.123.18/pp/update.htm?https://www."CompanyABC".com/=cmd_login_access.www.secure-"CompanyABC".com
Always log in to “CompanyABC” by opening a new browser and typing in the following:
https://www.a “CompanyABC”.com.

The term "https" should precede any web address (or URL) where you enter personal information. The "s" stands for secure. If you don't see "https," you're not in a secure web session, and you should not enter data.

Out-of-place lock icon.
Make sure there is a secure lock icon in the status bar at the bottom of the browser window. Many fake sites will put this icon inside the window to deceive you.
Ways to combat scam email and websites.
Remember, when it comes to Phishing, you are in control. To protect your personal financial information, ignore the requests in the email.
Never provide any information.
Never click on any link that seems suspicious.

How to report a Phishing email.
The companies which are victims themselves, take online fraud seriously by investigating Phishing emails reported to them. PayPal is one of these companies. If you think you have a Phishing e-mail from PayPal follow these steps:

Forward the entire email to spoof@PayPal.com.
Do not alter the subject line or forward the message as an attachment.
Delete the suspicious email from your email account.
PayPal will let you know quickly if the email is legitimate.

A genuine PayPal email will never ask for:
Credit and debit card numbers
Bank account numbers
Driver's license numbers
Email addresses
Passwords
Your full name

A genuine PayPal email will never include:
Attachments
Software

More steps to protect you from Phishing.
Monitor your accounts. Check your account periodically for suspicious activity. If you notice unauthorized use, report it.
Keep security software current. Update your firewalls and security patches frequently.
Be smart about your password. Change passwords often and use unique passwords that include letters, numbers, and symbols.

Do Your Agents Need to Be Drawn & Quartered?

2007-05-10T16:35:00.000-05:00

You might be thinking to yourself, “Yeah! That sounds like a great idea! Better yet, why don’t we just tar and feather them while we’re at it!” Broker’s, I’ll let you enjoy that fantasy for a little bit longer.

Ok, are we ready to proceed? By “drawn” I’m talking about drawing up a plan to improve your current agent roster by either taking the agents to the next level, providing additional support for those who are already experiencing great results or even “releasing” them to find new opportunities at other companies. CRB Instructor, Cliff Perotti, refers to this release methodology as, “re-introducing them to the marketplace!”

Be honest with yourself; how many of your agents need to be re-introduced? It’s no doubt that organizations all across North America are filled with bad hires, desperate hires and low hanging fruit that affiliated with them during the surge of new licensees over the last few years. Keep the following goal in mind when recruiting; every new hire should be an upgrade to your current agent roster.

When I mentioned “quartered” I am of course talking about the tried and true management technique of quartiling your agents into four distinct categories that are based upon their annual company dollar contribution. Using the first four letters of the alphabet, categorize all of your agents into A’s, B’s, C’s or D’s.

A = Top 25%
B = 26 – 50%
C = 51 – 75%
D = Bottom 25% in level of annual company dollar contribution.

I’ve even seen brokers that base this quartiling of their agents on a number of factors including attitude, level of engagement/participation, their energy level and their production. This is how the alphabet would look in this scenario:

A = Able (Able to be successful and highly engaged; with or without you!)
B = Best opportunity for improvement in all these areas. They need your support.
C = Can’t seem to move them up the scale. They need intervention or remediation plan.
D = Done (Re-introduce into the marketplace)

Once you’ve established the basis for your quartiling, put a plan in place to recognize and encourage the A’s. Secondly, move as many of the B’s to the A level through accountability and education. Then place the C’s into a remediation program to get their skills up to par in order to see results within a specific time period. Finally, release those D’s!

Soon you’ll come to realize that being “Drawn and Quartered” is a very good thing!

Don't Be Afraid of the Syndicators

2007-04-29T17:11:00.001-05:00

Well right away I'm sure I grabbed your attention or at least peaked the interest of those who remember what a bad word this was back in the 80's and 90's. I'm referring of course to our "old mindset" that defined syndicator as a some type of "carpet-bagger" that rolled into town and swindled investors into putting up large sums of money to acquire a share or piece of the action in a soon to boom property portfolio. No, that is not what I'm talking about. Funny how definitions change. You know, when a disk was something you threw at the beach and a monitor was the mean kid in the hall who wrote down your name when you were AWOL from class without a pass.

In today's vernacular, syndication refers to broadcasting information across the Internet. No different than a syndicated talk show or sit-com across the cable networks. It is a way for real estate agents, companies or MLS providers to publish real estate listings to online classified web sites. Now, how many of you really knew that? If you did, great job! If not, get educated so that you aren't left behind in the biggest lead generation opportunity to come our way in the last decade!

A recent survey by Classified Intelligence finds that online classified advertising will grow by 32% this year for a total spent of $7.7 Billion dollars. One of the fastest growing segments of online advertising is Real Estate. Savvy agents and informed companies are pushing their real estate listings through the use of RSS feeds, template services and website vendors who offer the service as a part of their listing management tools.

Through these services, real estate listings are pushed to online classified companies such as: google base, oodle, edgeio, craigslist, hotpads, livedeal and backpage. There are several more emerging companies including Zillow that just added an EZ ad template to their website. Zillow's "Mr. Expedia" is set on being the "community" site for real estate. We might as well get used to him and others being around.

Just go to Craigslist.org in any major metro market and search real estate for sale. You'll see that a few enterprising real estate agents have forgone the boring text adds for vibrant templated multi-media ads. How? By utilizing these services, of which some of the easiest to navigate are: Postlets, vflyer and reallyo. The best part is that many of these services are virtually free or can be utilized by heavy usage agents for a nominal monthly subscription fee.

Imagine the leads your company could generate if all of your company's listings could be found on numerous websites across the Internet. Better yet, if a consumer initiated a search by address on any major search engine, several results would be returned with numerous places to get information that would all point back to your website, your agents and your contact information. It's not pie in the sky, it is happening and major companies have already negotiated deals with Trulia, Google base and Zillow to do it on a larger scale.

Perhaps syndication isn't a bad word after all!

Do You Have Shrinking Square Feet?

2007-04-22T13:28:00.000-05:00

It is interesting to note the information gleaned from this graphic provided by the National Association of Home Builders. It highlights the increase in the average square footage of a single family home from 1950 to 2000. Yet the average number of people per household has decreased during the same time period.

Contrast this trend with what we see happening across North America with the average square footage of a residential real estate operation. It is completely opposite.

Since the mid 1990's the industry has seen real estate offices requiring less and less square footage. In the 60's and 70's we saw the advent of large offices requiring as much as 100 square feet per associate. A 100 agent office was no smaller than 10,000 square feet. Open bull-pens, large boardrooms, ample reception areas and gracious executive suites for owners and managers. Not to mention the office space required for the relocation, insurance, property management and closing departments. Remember those days, when we actually could close a deal in-house! I've toured my share of these type of operations, of which the largest was well over 30,000 square feet. Then of course the 1980's and early 90's brought us the ego-required private office or executive wing. An outer perimeter of 10' x 10' offices reserved for those producing $2 Million dollars or above in dollar volume. This has helped to create even greater space requirements. Most real estate offices had morphed into resembling law offices and financial service companies.

What's happening now? Enter the X and Y generation where sense of place, community and casual sophistication rule the design of the today. Taking cues from other innovating companies such as Old National Bank and their living room style lobbies, or Chase Bank and their open kiosk style service counters; the real estate office of today is resembling a gathering place. Have you been to Starbucks lately? In some states, Starbucks has teamed with financial service companies such as Charter Bank to create an open and inviting environment with a bistro on one side, education seminars on the other and a communal living area in the middle.

I had the chance to see an up and coming real estate organization in Midtown Houston that fit this new mold. Of course the owner was a generation X'er. The lobby was open, light and airy. Ceramic tiling, bistro tables, flat panel screens, and a coffee bar were the replacement for the stuffy reception area found in most real estate companies. On the flat screen were company listings, agent testimonials, client testimonials, ancillary service offerings, market reports, branding commercials and neighborhood profiles. A potential client is greeted by the company's concierge, offered a beverage at the bistro bar and invited to sit or stand at a nearby table until their agent is able to see them. This front lobby has replaced the back kitchen's water cooler as the gathering place of choice.

This company has over 100 affiliated associates, however there are no agent private offices, no dedicated cubicles or mini-suites. Agents have access to "hotel space" or "virtual space" that will accommodate their needs while in the office. A couple of the firm's executives have private offices, there are a couple of conference rooms and the affiliated title/mortgage operations have offices. This 100 agent firm occupies less than 4,000 square feet. Quite a change from only a few years ago.

If considering a new office, or the renovation of an existing floor plan, take into consideration current trends affecting office design and square footage. The trend of companies moving away from private offices and towards remote space is no longer speculation or a prediction, it is here and it most likely won't change.

Losing Agents? Close the Back Door!

2007-04-12T20:49:00.000-05:00

I recently had the opportunity to debrief a few sales associates in the course of conducting some research and intelligence on a nearby competitor. This competitor is a fierce recruiter that is known for their emotional recruiting tactics and close-knit family style. They have enjoyed decent agent growth due to their taking advantage of a disruption in a couple of other companies. In short, they are doing exactly what any good recruiting, expanding and growth-oriented company should be doing. They're keeping a close eye and open ear in the marketplace.

Over the last couple of weeks our brokerage has recruited back a couple of the agents we had lost to this competitor, plus we were able to pick up a few more that had become disillusioned in their experience at the company. It didn't take long to see that there was a pattern and common theme with the experiences of all these associates while affiliated with this innovative competitor.

Here's what we heard from these agents:
1. They were all passionately pursued, masterfully sold and thoroughly excited.
2. The honeymoon period lasted about 4 months.
3. They figured out that they were just another agent, in an everyday firm.
4. "Why was it we came here again?"
5. A bunch of promises, no meat.
6. Management was too busy recruiting, so they had no promised support.
7. Major pressure to help the firm recruit.
8. The firm had two types of agents: existing agents and recently recruited.

I could go on and on about what the agents said, but bottom line, their experience didn't line up with sizzle of the sales pitch. A very good opportunity for us to each take a look at our brand and company promise in our recruiting presentation to make sure that we are indeed delivering on our claims. Think about that for a moment.

However, the bigger "aha" for me was the realization that this company has failed to remember and implement the "romance factor." They were excellent at romancing and pursuing the agent in the recruiting process, they were even good at getting the agent to the altar. What they failed to do was maintain the romance after they were a part of the family. It was like watching a new couple with all the potential in the world slowly drift apart because there were no ongoing maintenance efforts such as: keeping commitments, writing a little note here and there, the total loss of affection and emotional support. Don't laugh at the analogy; it's the truth.

Ask yourself this question: "Am I recruiting my own agents as passionately as I recruit prospective agents?" Upon further research I wasn't surprised to learn that this company has one of the highest attrition and churn rates in the marketplace. Every time they recruited two agents, one was walking out the back door! Why? For the reasons stated above. When was the last time you checked your firm's proverbial back door? Romance your agents and you'll effectively keep it locked, barred and closed!

A Simple Question is Your Key to Recruiting Success!

2007-04-10T19:14:00.000-05:00

It seems that in this competitive recruiting environment every broker is looking for a silver bullet. Some type of secret arrow that you can pull out of the proverbial presentation quiver whenever you need that extra edge to convince a prospective agent to join your firm.

It is not uncommon for broker/owners, managers and recruiters to spend thousands of dollars a year attending recruiting retreats, buying packaged recruiting programs or getting coached by the latest guru just to get their hands on that elusive recruiting script or technique that could push their efforts to the next level. However, if you haven't figured it out by now, there is nothing new under the sun, no new earth shattering script or some automated program that will do the work for you. The emphasis of course being on the word "work" - a nasty four letter word that 84% of sales professionals can't stomach.

You know what I'm talking about; it's the 800 pound phone receiver served with a heaping portion of call reluctance. Generally speaking, most broker/owners don't do the work necessary to be successful, or better yet, schedule the time necessary to set themselves up for success. A 13 year survey of industry brokerage managers concluded that only 10% consistently devote time to daily recruiting calls. I couldn't help but also notice that the same 10% are typically growing, expanding, acquiring and profitable. I hate to say it, but do you remember the sage advice admonishing us to duplicate the actions and attitudes that successful people exhibit? This is what separates the successful from the mediocre - they just do it!

OK, so you know what you have to do. Reach out and touch someone - make the phone call. After all, recruiting is a contact sport. Watch out! Here comes the nervous energy; you might be asking, "what will I say?"

I recently had the opportunity to meet an incredible recruiter. A person who is disciplined, focused and driven to be the best in the industry. No doubt, he probably is as he consistently recruits over 300 agents annually. When asked what makes him successful, he laughs about his unrelenting contact with his target list. Either he recruits them, or they tell him to drop dead and stop calling. What does he say though? It is really rather vanilla, simple, but powerful! When speaking to agents with at least one year in the business, he asks each one, "Are you making the kind of money you thought you'd be making by now?" Just think about that statement. What were you thinking when you first got into the business? Think about the allure, the so-called glamour, the independence and the pot of gold promised by the prospects of getting into the business. You'll have to admit, you probably didn't make the kind of money you thought you'd be making right off the bat.

One simple question, combined with the act of actually picking up the phone could pay you dividends for years to come.

The Executive Dashboard: Knowing your Numbers

2007-03-21T19:34:00.000-05:00

What I'm about to share is not only enlightening, but somewhat frightening. During the course of my recent travels I had the opportunity to sit down with a 120 agent company and review their residential brokerage's financials. What I found was somewhat alarming and out of character for a brokerage of that size - or so I thought.

After learning from the owner that there were some cashflow issues; I laughed off the seriousness and responded, "Well, that's why they call you a "Broke-r!" Little did I realize the full extent of the situation. It is not unusual to find overhead fat that can be trimmed, owner perks run through the corporation or a fetish toward technology spending. However what I found was an overall lack of good financial oversight. Of course I realize that agents turned broker/owner can struggle with the transition from selling to managing an asset, but this was a seemingly ever-growing, upward moving and shaking enterprise. From all outside appearances - she was laughing all the way to the bank. In reality - the owner was running from the bank.

So where was the problem? Knowing the numbers! Oh believe me, the owner knew what commissions (revenue) were coming in; knew what the monthly overhead was had even gone as far as developing a ranking of the company agents by company dollar contribution. Sadly, this was still not enough. The major areas of neglect were as follows:

Failure to implement an exhaustive financial management system such as a real estate office specific accounting program. Programs like Lone Wolf can pay for themselves many times over.

Over-extending by not keeping an eye on average agent contribution, overhead cost per agent and cash-on-hand. Three important dashboard indicators that should be on your own executive dashboard.

Assuming that recruiting can solve all ills! I know that recruiting gurus are cringing while reading this, but the truth is that if you're bleeding profusely no amount of recruiting is ever going to get you out of the hole. Remember the old saying, "stop digging!" What is your state of mind and attitude when your in debt up to your eyeballs? How about the desperation that potential recruits pick up on, and the "deals" you're willing to cut to get them on board. Quality goes out the window as your desperation increases.

Ask yourself what indicators you are reviewing daily, weekly, monthly and quarterly. What's on your dashboard and are you paying attention to the numbers on the instrument cluster?

The CRB Council

2006-12-20T18:51:00.000-06:00

From the words of our Chief Executive Officer, "The CRB Council believes that values can drive performance and innovation and, naturally, that the most successful companies derive value through their people." We simply believe our values will help us meet our strategic goals and, perhaps more importantly, help us build stronger relationships with our customers, and other influential leaders and enhance the reputation of both the real estate brokerage management profession and the Council. The strategic initiatives identified and approved by the Board of Directors, and the reserve funding needed to execute the plan, touch on several key areas:

Inform - Keeping our customer informed.
Develop - Helping our customers develop professionally.
Build - Building recognition for the profession.
Partner - Partnering with our volunteers and employees.
Strengthen - Strengthening our future.