By Dave Robison
Have you ever received a letter after a closing from the other brokerage thanking you for the successful closing? Have you been bombarded by e-mails stating that XYZ Brokerage has the best broker and systems to help you be successful? There are literally hundreds of brokerages to choose from, and yet I feel they say the same thing: higher splits, best service, etc., etc.
The question is, how do you really know XYZ Brokerage is going to help you more than ABC Brokerage? Is it by the number of agents at the brokerage? If the brokerage has hundreds of agents, maybe that is the place to go? I have had a thought lately that if an agent wants to choose a brokerage that will help them succeed, it’s time to find a brokerage that is willing to put their money where their mouth is.
When I was a kid, I remember I wanted a Sports Illustrated subscription. It was the cool magazine for kids to read. I asked my mom and she said that if I practiced the piano a few times a week and did some other chores she would get me the magazine. I got the magazine, but you know what…I never did any chores or practiced the piano. I remember thinking, “Mom hasn’t even asked me if I did what I agreed to.” I remember thinking she must not care, so I never did it but I still got the reward. I occasionally think of that moment and the principles of accountability. My mother never had a system of holding me accountable. I was free to do what benefited me the most. Since I wasn’t held accountable, I didn’t perform.
In building a real estate team, I learned that people perform if they are held accountable. When you are held accountable, you put your money where your mouth is. You perform or you don’t benefit.
I believe there is a brokerage of the future that would embrace this principles of accountability. Today, if a brokerage wants to grow profitability, they recruit an unlimited amount of agents. They may promise to help you be more successful, however, they are free to recruit your competition to help them be profitable as well. If we are to apply the principles of accountability to a brokerage, then it would be structured differently. Imagine a brokerage where they only had a limited amount of agents. Let’s say 100 agents. How would they grow profitability? The only way they would grow is if their 100 agents continually sold more homes and were more successful. Now their focus is on you being more successful (not recruiting their fallback) because they are held accountable to it. I believe the broker/owners would innovate and personally grow from it. This is a brokerage that puts their money where their mouth is.
Are there any brokerages that you know of that do this? Is it a brokerage of the future? Would you prefer to be with a brokerage of 1,000 agents doing three deals a year, or a brokerage of a limited amount of 100 agents who are all doing 50 deals or even a 100 each a year? Who will put their money where their mouth is?
Dave Robison, known as “Utah Dave,” is a broker/owner of Robison & Company Real Estate.
By Anand Patel
In an attempt to jumpstart the fitness routine I once followed, I decided to sign up for a three-week boot camp. As we are now entering the third and final week, I am wondering how am I possibly going to work-out with the same intensity and discipline at the gym on my own once the week is over. There is something about exercising in a group environment (or even with a partner), having each other and a trainer to encourage and push you beyond what you mentally thought you can achieve that makes boot camps so successful. Come on! One more pushup!
It got me thinking about a truth that also applies to our personal and professional lives – who do we surround ourselves with? Just as the boot camp environment works by having your peers challenge you to continually improve, we also need similar peers around us in other aspects of our lives. Sit back for a moment and think about the people who you surround yourself with in your life. Would you consider them people who encourage you? Or do they bring you down? Do they push you to think bigger and strive for more? Or do they cloud your judgment with fear and negativity?
In real estate, we all know agents who are complaining about how bad the market is, and blaming the economy for their lack of sales. We also know agents who, in spite of the market, are optimistic and making the best of the situation. These agents are doing extremely well. Which ones do you surround yourself with? Which ones do you allow to influence your thoughts and mood?
Now, keep in mind, this goes both ways. Are YOU a person who uplifts others, encourages them, and pushes them to do more and grow personally and professionally? Or do you bring them down, discouraging their goals, dreams, ideas, and ambitions? Which person do you want to be?
Just some food for thought as you start off your week. Now if you’ll excuse me, I’ve got a couple of more pushups I need to knock out.
Have a great week!
Anand Patel is a broker licensed in Florida, Georgia, Tennessee, and Mississippi with Elite REO Services and Elite Premier Properties. You can connect with Anand on Twitter: @anand_tampa; Facebook: www.facebook.com/livingelite; LinkedIn: www.linkedin.com/in/anandpatel1 or on the Web at www.anandsblog.com.
By Jennifer Klein
The current real estate market is tricky to understand. In this video with Steve Ostrom, we discuss who is obligated to whom, both in a short sale and in the case of bank owned homes. Understanding who our agreements are with as agents will help buyers better navigate the market.
Jennifer Klein is a REALTOR® in Northern California who is experienced in short sales, investments, and property management. Connect with Jen at RosevilleAndRocklin.com, JenKlein.com, and @JenKleinSac.
By Scott Newman
I often encounter other REALTORS® who see little to no value in developing relationships with their fellow agents, and it just baffles me every time! We are in one of the most challenging real estate markets in U.S. history, not to mention we’re in an environment where rules and regulations change daily, which is only adding barriers to establishing a successful business. I think we need the support of one another now more than ever.
But how do you develop those bonds? Read on, as today I’m presenting a few great tips for building your agent network as a way to grow your business in 2012.
This is by far the most important piece of advice I can possibly share with you. Put down the phone, computer, tablet, and anything else with a power cord if you really want to network with your fellow agents properly.
I love social media, and I owe a great deal of my success to our ability to market effectively on that platform. But when it comes to connecting with other REALTORS®, you simply can’t replace face-to-face interaction with any technology that currently exists. Make it a point to attend one live networking event a week related to our industry, giving you have a chance to meet other agents in person. Bring plenty of business cards and come ready to mingle.
Here’s another great tip: Take some time to figure out what distinguishes you from your fellow agents so you stand out. Whenever I’m around other agents, I make it a point to nail home just how successful and interested I am in working with short sale listings. More often than not, another agent in the room is all too happy to take a referral fee for the few short sale listings he gets each year, which is a win-win for everyone.
Maybe you do leasing, or you’re a luxury specialist — whatever it is, emphasize your specialty and talents to distinguish yourself from the crowd and elevate yourself as the top expert in the room. It will go a long way towards cementing relationships and help you create pipelines through which new business and referrals can flow.
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