Monthly Archives: April 2018

Hold the Vision

Category:KB Consulting Solutions

The first key in our 5 Keys to Legendary Leadership is to “Hold the Vision.”  To hold your vision is to lead with your mind.

Now that is powerful.  So powerful that you might ask, “How does that work?”

My experience with legendary leaders is they not only possess the ability to see things others don’t, they have the ability to articulate their vision so clearly that others see and believe.  Not only do they believe, they join in to help obtain the goals set forth.

Legendary leaders hold the vision and remain steadfast. They continue seeing the end result in their mind’s eye in the midst of roadblocks and detours.  Challenges quickly become opportunities. This applies so appropriately to the real estate industry. Those of us whom have survived the many ups and downs, ins, outs and cycles understand the significance of leaders keeping the vision clear.  We understand how legendary leadership is essential in an ever-changing, volatile industry.

To hold and fulfill the vision, legendary leaders set standards and non-negotiable goals while delicately learning to pivot.  In an industry that changes as rapidly as real estate, pivoting is critical.  While leaders may need to pivot, change their methods, and adapt to technology, communication trends and techniques, the vision does not change.

Legendry leaders are laser focused yet adaptable to needed modifications and changes.  They basically see the vision when others doubt and question.  They see the vision when others don’t. Especially when others don’t!  They hold on while others doubt, deny, back-peddle and quit.  Legendary leaders are relentless in their pursuit driven by clarity and transparency.

The final element of legendary leaders holding the vision is accountability.  Their desire to be held accountable and hold others accountable ensures that while the methods may be modified, collaboration and teamwork through accountability are vital on the path to success.

Lead, learn, leverage, and hold on to your vision.

Be a resource, not a sales pitch.

Five Keys to Legendary Leadership

Category:KB Consulting Solutions

As we move into the height and thrill of the spring market, let us ever be reminded that a great, healthy market allows us to foster and develop bad habits.  (If you are in Coaching, how many times have you heard me say that?)

Over the next 5 weeks, rather than harp on the fundamental practices of real estate, our focus will be on the Five Keys to Legendary Leadership as modeled by “The Go-Giver Leader” by Bob Burg and John David Mann.

In this series we will focus on the following topics and carefully thread the message into our industry to ensure that each one is developing and executing the right habits to lead as a business owner in any market (not just the good one)!  These lessons will apply to every aspect of the industry and empower us to design, develop and engage in the right habits to sustain a profitable and productive business.

The series of messages will feature:

• Hold the Vision:                        Lead with your mind.
• Build Your People:                    Lead from the heart.
• Do the Work:                              Lead from your gut.
• Stand for Something:                Lead with your soul.
• Practice Giving Leadership:    Great leadership is never about the leader.

Regardless of your role in the real estate industry, or as a business owner and leader in any industry, this series is brief and intentional in providing a message that you can learn, leave, and lead with!

Stay tuned as we lead to be a resource, not a sales pitch.

Top 3 Ways to Build Your Best Business (part 3)

Category:KB Consulting Solutions

Don’t let a great market create bad habits!

In the midst of the chaos of the business, it’s important that we maintain great habits and sharpen the fundamental skills that sustain a solid, profitable business! Especially in times of a healthy housing economy with depleted inventory seriously impacting our business, we must stay true to solid fundamental skills and business practices.

In our final blog of this series, we want to focus and be intentional with crafting a story that best communicates (at a much higher level) the value you bring to the table as a professional.

What Sets You Apart…

        Why would someone hire you today?

Telling Your Story

The art of story-telling the secret to success in sales.

Historically, salespersons have often been seen, or at least perceived as, pushy, forceful and often less than authentic.  Much like our badger or a used car salesman.  You know (if you are old enough) the one in the polyester leisure suit with patent leather shoes.  Thank goodness, along with the shift in the market, there is a shift in the sales profession and the perception of what a professional REALTOR® should represent.  You are now the navigator, the expert and the guide.  Your role as a Consultant is to be knowledgeable, transparent and trustworthy.

You should always be a resource and not a sales pitch.  You should tell your story well while remembering you are there to serve their needs and serve from a place of knowledge and leadership about the market and market conditions.

Your presentations should be:

• Compelling
• Value Driven
• Truthful

Identify your value and brand:

Why should I hire you today?  Right now, take a clean sheet of paper and write down the Top 10 reasons you are the REALTOR® of choice.  Ready, set, GO!

If you have no problem with this exercise…congratulations!  You are well on your way to mastery of your business and future.  IF you struggle…  Dig deep. It is imperative for you to own this.  Again, this is where a great market can introduce and allow bad habits.  Hints are listed below for you to create and live an unfair advantage.

Creating an Unfair Advantage

• Create a ROI
  1. Your personal production vs. the competition
  2. Production #’s from your office
  3. Your market Snapshot
  4. Hometown experience/world of experience
  5. Designations, training, expertise

Keep in mind, we are “unique” in some way or another and that also applies to business.  Know your strengths and weave them into a powerfully compelling story that ensures you secure the business every time.

My best advice?  Always…be a resource, not a sales pitch.

Top 3 Ways to Build Your Best Business (part 2)

Category:KB Consulting Solutions

Don’t let a great market create bad habits!

FOLLOW BEST PRACTICES 

I love this time of year!  I am a sunshine, warm weather spirit!  It’s spring, the flowers are blooming, the trees budding, and the market is HOT!  Each spring, professional baseball players pack up and travel to Spring Training.  They relentlessly practice the fundamentals of the sport: throwing, catching, pitching, batting, running, sliding…basic skills.

As a professional REALTOR® we must do the same.  Keep our skills sharp and in fundamentally sound.  The best way? To develop and sustain strong, well-documented best practices:

Develop and Implement Systems

• Plan Your Work; Work Your Plan
  • Vision – Define your Big WHY?
  • Business Plan
    • Business Snapshot: an overview of your source of sales and what potential business  you might be allowing to fall through the cracks
  • Review Activities vs. Results
    • Daily/Weekly/Monthly/Quarterly/Annually
  • Measure and Track
    • Source of Sales (Quarterly at a minimum)
    • What is working; what is not?
    • What do you need more of; what do you need less of?
      • 42% of Buyers were referred to an Agent
      • 12% of Buyers used a REALTOR® they previously worked with
      • 10%  of Buyers found their REALTOR® on a website
• Listing Practices
  • Checklist: Listing to contract – what you do/how you do it
  • Set the agenda/schedule of the process
  • Set communication expectations to Seller with Seller
• Buyer Practices
  • Consultation process
  • Checklist: Contract to Close
  • Set communication expectations to Buyer with Buyer
• Additional Opportunities to Build a Strong Business
  • Open House
    • Open House in a Box
    • Get creative; Set amazing expectations
      • Food Truck
      • Ice cream vendor
      • Wine and Cheese Neighborhood Gathering
  • Switch properties
• Door Knocking
• FSBO Open House
• Video Preview to Agents with similar sales

Create a Covenant

Imagine if you could double your listing inventory with one action.  What would that mean for your business?  What would it mean for your family?  Your wealth?  Your future?

Historically, our industry leaders and gurus have encouraged us to build a strong business by providing an extraordinary experience for the client and then asking for a referral.  This has empowered may professionals to build a phenomenal business and sell homes to generations of clients.  The practice has worked for years and continues to work in today’s market…yet timing is everything!

We propose that rather than asking for the referral (you know, friends, family and business associates who might be interested in a real estate transaction) at the closing table, that you ask for the referral at the time the listing agreement is signed, in the form of a “Covenant.”

“The typical Seller has recommended their agent twice since selling their home. Thirty-three percent of Sellers have recommended their agent three or more times since selling their home.”

— 2017 Profile of Home Buyers and Sellers.

Know Your Market

Own it.  You are the expert.  You are the navigator. The facilitator, the professional who Is driving the transaction.  To dominate your market and deliver exceptional service you must:

• Know your numbers
  • Know and understand your Market Snapshot:
  • Market Stats—Year-over-Year; Month-over-Month (Per Price Point)
    • Absorption rate
    • Average days on market
    • List vs. sales price
• Know your Office Stats
  • Year-over-Year; Month-over-Month
    • Volume
    • Per Person Productivity
• Know Your Performance Stats
  • How do you measure against the market?
    • Average days on market
    • List vs. Sales Price
• Know your Unique
  • What sets you apart from everyone in the market?

Designing and executing best practices within your practice moves you to a higher level of professionalism and help to create an entity with greater value and marketability!  Knowledge of your business provides power and security!

Move closer each day to be a resource, not a sales pitch.