Author Archives: Kathy Baker

Look for Results, Not Salutes

Wow.  Just wow!  For the real estate industry, this topic of leadership could not be timelier. We’ve just completed one week of vying for #1 in the industry.  Kudos to all the participants, kudos to all who contributed and congratulations to Keller Williams.  The right results will lead to amazing salutes.

How do you get there? As referenced in It’s Your Ship by Captain Michael Abrashoff, he references the hierarchy of the US Navy and just how things work and how you have to work to get things done.  The systems within the Navy are tried and true and rigid.  Real estate?  Not so much.  In our industry, personalities at the top have historically created and dominated culture and thus impacted results.  Undeniably, many major brands were fostered and molded after founders who demanded salutes and ruled the roost much like a bantam rooster in the barnyard and most closely modeling The Emperor’s New Clothes.

Hello, and welcome to the new era which demands true Leadership.  If you haven’t noticed, there is quite a huge movement in the U.S. and worldwide where leading by fear and ego no longer works.  Times have changed.  It’s time to model the success of the USS Benfold and lead to make your ship (whether it be a Team, Office, Franchise, small group, church, school or non-profit) “The Best Damn Ship in the Navy.”

Here are Captain Abrashoff’s Top 5 Recommendations that we believe we should consider:

Help Knock Down the Barriers

One key action (action here is paramount) that the Captain implemented was to sit and eat with the crew.  If you have military experience, you might understand how game changing this act of leadership was and its long-term impact.  Rather than sitting in special quarters with invited guests, this Captain sat among his crew and opened lines of communication.  He listened to and conversed with his team.

• Who do you need to be talking with and listening to?
• How and where do you need to show up every day?
• What impact could this have on your organization?

Let Your Crew Feel Free to Speak Up

At some point as Captain, Leader, Founder or Emperor, you need to sit among the crew and listen to their concerns and needs.  Building walls, eliminating those who speak up and don’t agree with you will have devastating results.  It is as simple as realizing that if there is no fabric in the loom, eventually that truth will leak out.

When the behavior of leaders and managers reflects that they are above their people, when they make and announce decisions with little or no consultation and do not solicit and listen to the “boots on the ground,” when they make it clear that their orders are not to be questioned, then conditions are ripe for disaster.

Every leader has the opportunity and power to prevent this disaster.  Surrounding yourself with underlings who agree with you is not a viable solution to build your brand, team or organization better or stronger. What will create and sustain success is to sit among the crew and allow and encourage them to feel free to speak up, contribute and be heard.

Nurture Freedom to Fail

Empowerment is a word that I use quite often.  Perhaps even too often. Yet to me, empowerment is not a four-letter word. It is an action that allows others to understand and refine and often discover their skills and strengths.  It is giving talent the space and fuel to develop.  Too many think of empowerment as allowing people to run wild and free. Absolutely not.  Empowerment is setting expectations and providing “rails” or “parameters” to encourage individuals, groups, teams and organizations to work and give them permission to “fail forward.”  The result?  Success and growth beyond their wildest dreams and imagination.  When this happens, the entire organization benefits.

Innovation Knows No Rank

My professional journey could not be more diverse than a military background.  It often resembled:  Ready, Set…Aim.  It was definitely failing forward and learning from the mistakes made.  The greatest growth in business and leadership occurred when I got out of the way!  Let me repeat that, I got out of the way and allowed others to do their job!

I’ve never had a problem hiring people much smarter than me.  Never.  What I was challenged with was giving them the freedom to make great decisions by implementing great systems, making changes and creating a bit of disruption by coloring outside the lines I had drawn.  Once I let go of my ego, listened to the village and allowed others to have a voice…our business soared beyond expectation.

Challenge Your Crew Beyond Its Reach

The taste of success in all industries can be the catalyst for a number of emotions that impact both the mindset and work ethic of an organization.  It may cause a desire to be bigger, bolder, faster and greater or it may feed a feeling of arrogance, compliancy and over-confidence. When we talk about challenging your crew…we talk about the entire organization.  Top down. Without exception, the entire organization should be encouraged to:

• Lead by Example
• Listen Aggressively
• Communicate with Purpose and Meaning
• Create a Climate of Trust
• Look for Results, not Salutes
• Take Calculated Risks
• Go Beyond Standard Procedure
• Build Up Your People
• Generate Unity
• Improve Your People’s Quality of Life

And as always, be a resource, not a sales pitch.

Leadership: Creating a Climate of Trust

Our next conversation in the discussion of Leadership is the vital topic of trust. How do we create a level of trust in our organization which will propel us to the next level of production and profitability?  In his book, Captain Michael Abrashoff points out key steps to make this happen.  Below is how we recommend to apply this guidance and advice to our daily industry practices.

Once guidelines, procedures and best practices have been set, Leaders must have the courage of their convictions.  As a Leader (and this is tough) you must give away responsibility, stand back and allow others to be successful…or not.  Captain Abrashoff shares that trust is a king of jujitsu:  You must earn trust and you earn trust only by giving it.

Let that sink in for a moment.  You must earn trust and you earn trust only by giving it.

In our industry, where repeat and referral business is based on relationships and relationships are based on how well we perform…this could be a challenging concept to wrap our heads around.  Here is what we must embrace:

Never Pit Dog Against Dog.

We work in an extremely competitive industry where many survive, yet only the strong and savvy thrive.  It is because of this competitive spirit that often trust may be challenged.  Within your office or team internal bickering and back-biting should not have a place. This behavior creates a culture and atmosphere where few are motivated and both production and retention are negatively impacted.

When members of your tribe increase communication and stop questioning motives, trust thrives.  With greater trust, higher productivity is guaranteed.  Trust is much like your bank account.  Continuous, consistent deposits are required if you want trust to grow. Once your balance of trust is high enough, you can afford a few miscommunications and errors (as long as unintentional) and the Team will not be damaged.

Even the Worst Screw-Up may be Redeemable.

I’m often surprised by how many professionals confuse a mistake or an error with a tragedy. For me it’s quite simple.  A tragedy is death. Other than death, I have always lived and led by the belief that there is nothing in this life than cannot be resolved as long as all parties are willing to discuss and give a little.

People In your path have to see that you believe in them.  Trust is about allowing people to screw up and grow.  As a parent, we do this every day.  We allow out kids to grow, exercise their muscle of free will and make mistakes.  Hopefully, we mentor and guide them to better decisions with a lesson in why making better choices will benefit them and enable them to avoid confusion, disappointment and potentially harm.  What if we did this in business?  What if we gave others the permission to fail?

Not sure about you, but I’ve made many mistakes in life both personally and professionally. I’ve been the recipient of extreme grace.  What if we extend that?  What if we give those we work and serve with the permission to fail forward, grow and benefit from the experience?

Welcome the Bad News Messenger.

Bottom line, if you shoot the bearer of bad news, you will not find out about challenges until they are well out of hand.  You should be open approachable for both good and bad news.  A true climate of trust is one in which all participants are willing and open to deliver news to the Leader regardless of the nature of its content.

Protect Your People from the Lunatics.

While there are many differences between the military and civilian life and business, one thing that is in common is that lunatics abound!  As a Leader, it is important to protect your people from as much of the crazy as possible.  The best way I have found to do that is to develop and implement strong processes, procedures and systems.  This includes not only “how” to do things, but what to say.  Scripts and dialogs are critical for each practicing professional to adopt and utilize.  If you have trusted systems and procedures (including spoken language) they protect you and provide a safe boundary or border between you and the lunatics.  A great Leader will help you design, and then hold you accountable to, a system that protects both your personal and professional reputation.

Trust Always Makes Money.

For the past million years (that might be an exaggeration), NAR has conducted a survey of consumers and asked, what is the greatest characteristic you need to see when selecting a REALTOR®?  For the past million years (or there about) consumers have responded with the same characteristic.  Trustworthy.  Enough said.

As move onward in the exploration of Leadership and how we dominate the market and industry by serving at a higher level, trust is essential.  Remember, it’s a bank account…deposit often.

Be a resource, not a sales pitch.

Communicate with Purpose and Meaning

As we move forward in the leadership lessons of Captain Michael Abrashoff of the USS Benfold, we leap into the discussion of communicating at a higher level.  When we communicate with both purpose and meaning, we have the opportunity to transform our business and create the culture of an elite school, a lively church, a winning team, or best of all, a sustainable, profitable business.

Captain Abrashoff believes the secret of leading a ship, managing a company or developing a team is the responsibility of the Captain.  You must articulate a common goal which inspires a diverse group of individuals to work together.  Here are the four steps to communicating with purpose and meaning:

Share Your Vision

• Create and map out the blueprint
• Communicate each person’s role and responsibilities, including expectations
• Keep everyone well informed at all times
  • Celebrate publically and criticize confidentially
  • Share all facts (status) including the good, the bad and the ugly
  • Change frightens people and fear thrives in silence

Avoid Clogged Channels

• Know the flow of your business
• Seek models and systems which will provide measurable results
• Embrace accountability to stay in the flow of healthy communication
• While you don’t want to work “out of vision” and off the blueprint, you must be willing to make modifications and even pivot if necessary as needed

Encourage Freedom of Speech

• Be open to hear other’s ideas, suggestions and how their recommendations might create positive change
• Be open to criticism
  • When people know you are open to criticism, they open themselves up and dramatic improvements may occur
• Encourage happy warriors among your tribe by allowing them to speak up!
• We are not suggesting you give your power away, only that you listen aggressively and consider the potential outcome of new and progressive thoughts and ideas

Create Your Brand and Defend It

• Every action you take, every decision you make, every system you implement, every process, procedure, benefit, tool and resource you provide, becomes your Brand.
• Honor the work you do by holding fast to your vision, your goals and your big why as it becomes your Brand.
• Know every decision you make impacts your reputation, which is your Brand
• Be steadfast and intentional in a way that consistently builds your legacy as it is your Brand

Communication is such a vast, interesting topic.  Just think about how far we’ve evolved since drawings on cave walls, right?  Progress?  Maybe.  In a world that is now so instant, yet impersonal…we need to model and practice clear, concise communication skills.

The old model of leadership was about control.  Many felt that by keeping others in the dark they held the control.  In fact, that element of secrecy may spawn isolation not success.  Knowledge is power, yet please consider that you do not have all the knowledge all the time. The new model of successful communication supports collaboration and transparency.

Go!  Lead and communicate with purpose and meaning.  Be a resource, not a sales pitch!

Shhhh…Did you hear that?

We live in a world and work in an industry that gives endless opportunity to serve and make a difference every day.  As we launched this series last week with the Leadership Lessons of Captain Michael Abrashoff, we discussed an overview of leadership.  This week we will consider the art of listening.

As we come off the day of celebration of Dr. Martin Luther King, we examine an example of another great leader.  We are reminded that “Everybody can be great…because anybody can serve.” Dr. King served with talent and passion.

The common thread of these two great leaders is the ability to listen aggressively and respond appropriately.

One of the most under-developed of the 5 senses Is the sense of hearing.  As you well know, my belief is that listening is an art. In our daily lives, and especially business, the greatest gift you can give someone is the gift of being present and aggressively listening.  When we focus on what is being said vs. how we are going to respond. The dynamics change significantly, and change occurs.  Change for the positive!

Captain Abrashoff believes in the following 3 practices.  I believe when we adapt these beliefs from the military and apply them to our profession we can move forward and achieve growth beyond our dreams.

See the Ship thorough the Crews Eyes:

I’m certain that you have to surround yourself with worthy, intelligent and hardworking people. (If you have not, seek immediate change.)

• The greatest opportunity to improve both your professional and personal lives is to learn from those who surround you.
• See your business through the eyes of others.  Allow them to introduce great insight to how to improve and generate greater business, both efficiently and effectively.
• Ask colleagues what they need more of and less of to be more productive.
• Ask them if they were in charge for a day, what changes would they make.

Find Round People for Round Holes:

Develop your listening skills to the degree that you identify the needs and ensure that the right people are in the right position.  This is not limited to your staff and Team.  This also relates to buyers and sellers.  Ask questions that motivate, inspire and allow others to self-discover where they need to be.

Use the Power of Word Magic:

It is extremely important in the development of your aggressive listening skills to “hear” the voices inside your own head.  Yes, we all have them.  Sometimes they are even in harmony with your goals, yet often they create disruption and confusion.  As you listen, make sure that the self-talk that you are hearing is positive and supportive.

We only have the ability to think positive or negative.  Did you realize, as humans, we are incapable of thinking both at the same time?

Make the right choice.  Choose positive, healthy, and supportive language and individuals to fill your life.  We are exposed to enough negative.  Shield yourself from hate, judgement, and destructive communication and activities.

Remember, everyone can be great, because everyone can serve.  To listen is one of the greatest acts of service available.  Listen aggressively and choose to be a resource, not a sales pitch.

Follow the Leader

In a world full of instant impressions, overload of social interaction and fake everything, leadership is more important than ever.  Honestly, the real estate industry is starved for it.

Historically, military leaders set the course and show us how it should be done! That could not be more true of Captain Michael Abrashoff as he took command of the USS Benfold.  The Captain was assigned to the worst ranking ship in the US Navy and through following the method we will highlight over the next series of Blogs, he turned it completely around resulting in being ranked the highest performing ship!  Abrashoff did this by being the leader others wanted to follow.

In the real estate industry those who set the example and live the life of leadership, both professionally and personally are easy to find and very easy to follow.

As you evaluate your business model and review your business plan for 2018, let’s embrace the role of being the leader that others follow wholeheartedly.  These are 5 Steps to consider when Leading By Example:

1.  Evaluate your Leadership Skills:
In this industry, we are constantly being evaluated.  Our production, our customer service, our professionalism and how we treat others…all others.  First things first, get out the mirror and take a comprehensive look at yourself.

• Look inside and conduct an honest, self-evaluation to discern your leadership skills and how you attract others to follow you
  • What do you provide that sets you apart from all others?
  • Why would someone choose you?
• Evaluate your level of preparedness
  • Are you prepared to meet your 2018 goals?
  • Do you have the tools, support and resources available to hit your goals?
  • What do you need more of, what do you need less of?

2.  Never underestimate your effect on people:
This applies to all levels of all businesses.  It is critical to treat others with the respect and care they desire…not deserve.  If we want repeat business and to work at a level that referrals are about relationships, this is critical.

• Leaders must understand the profound affect they have on people
• Optimism and pessimism are equally infectious
• Leaders set the tone and spirit of all those around them
• People may forget what you say, yet they will not forget how you make them feel

3.  Get to know those you serve and those who serve you:
One of the fundamental keys to Captain Abrashoff turning the ship and obtaining the remarkable results he did, was that he intentionally got to know each Sailor on the ship at a deep, personal level.  Why had they joined the Navy?  What was their “Why?”  What he quickly discovered was that many had been assigned to a task they had neither passion nor talent for.  The relationship he fostered developed, he re-assigned the talent and the results came.

• Exceptional leaders take the time and trouble to know their people
• Know your people at a 7-level depth so that you may anticipate needs and serve at an extraordinary degree
• Be intentional with communication
  • Listen aggressively
  • Speak with clarity

4.  Know how to be held accountable:
Embrace accountability at the highest possible level!  It is much easier to hold others accountable when you are performing at a high level of accountability.  Risks shrink, performance goes through the roof.  As a Coach, I will always be coached.  Personally, I am conflicted holding others accountable if I am not being held accountable to my personal goals and vision.  Coaching is key for me.

• Develop a culture which allows people to openly acknowledge mistakes, take responsibility and move ahead through accountability
• Avoid the blame game
• Designate an accountability partner and allow yourself to be held accountable
• Hire a Coach

5.  Obey and follow the course, even when you disagree:
As our industry changes and new policies, procedures and players enter the game, it’s important to remain compliant and follow the rules! Even when we know a better way which may be more effective and efficient, we must remain within the guidelines provided for us.

• With your business plan and goals, stay true and follow your course of action
• Evaluate your progress often and adjust and modify as needed, yet remain within the agreed upon boundaries, guidelines and rules of real estate
• Within your business plan, what do you need more of? What do you need less of?

Make 2018 your best year ever through leadership.  Be a resource, not a sales pitch.

Leading our Way Into 2018

As we launch into a New Year with amazing expectations, plans, and strategies, I’m delighted to introduce our Q1 blog series based on the leadership theories and the principles of Captain D. Michael Abrashoff and his command of USS Benfold.  His leadership story has become legendary inside and outside the Navy. I’m pleased to feature his story and tie the ribbon around how it applies to the real estate industry.

When Abrashoff took over as commander of the Benfold, it was ranked at the lowest possible place with the Navy.  The ship provided extremely high technology with extremely low results in productivity.  Sound familiar?  Realizing that the responsibility rested on his shoulders, he recognized his own leadership skills had to be honed and improved before he could improve his ship.  Within months, significant changes were made which resulted in confidence and change.  The slogan on board soon became “It’s Your Ship” and the Benfold soon became the best damn ship in the Navy.

Our opportunity is to take Abrashoff’s principles and incorporate them into your daily activities, hold you accountable and provide the conduit for you to make the changes needed to gain confidence and create change.

Over the next 10 weeks, we will take a deep dive and explore the secrets needed to elevate your “ship” or business and take it to the next level.  The secrets which will be revealed and explored include, yet are not limited to:

• Lead by Example
• Listen Aggressively
• Communicate with Purpose and Meaning
• Create a Climate of Trust
• Look for Results, not Salutes
• Take Calculated Risks
• Go Beyond Standard Procedure
• Build Up Your People
• Generate Unity
• Improve Your People’s Quality of Life

At the time I read this book, I literally drank in each principle.  Personally, for me, it was life and career changing.  I hope you will walk away motivated, inspired, and compelled to make the changes needed in your business to take you to the next level.

Like Captain Abrashoff, we will be a resource and not a sales pitch.

Pause for a Moment…

We made it!  Another year in the books.  We’ve performed amazingly, served as best as possible, made lots of mistakes (hopefully…because if not, you are not trying very hard), learned lots of lessons, and enjoyed many celebrations of life.

We are ready!  Ready for another year!  We have our vision, objectives and strategy condensed into our 2018 Business Plan (if not, we need to talk), ready to perform amazingly, poised to deliver an exceptional experience to all we serve and leave a legacy by making lots of mistakes (again, that’s a great indication we are trying hard), learn lots of lessons and enjoy many celebrations of life!

Yet, before moving one step or one thought forward…let us pause.

Let’s take this day to make a list of what went incredibly well in 2017.

• What do we want to do again, and again and again?
• What are we most proud of in 2017?
• Who is the one person who has had the greatest impact on your life this year?
  • Why not call them right now and thank them?
  • And may I suggest one call be to your Broker/Owner/Manager?
• How did we serve in a way that left an amazing impression/impact on someone’s life?
  • How do we do that again in 2018?

Our industry is no different than any other.  There is constant pressure to do more and more.  The combination of technology, trends and shiny objects frustrate and fascinate us simultaneously.  While teasing and taunting us to do better, be faster, smarter, bolder and soar, seldom do we hear the message that we are enough.  Our knowledge and wisdom (and there is a huge difference), combined with our passion and dedication to serve results in amazing experiences for Buyer and Sellers…and all others in the path to homeownership.

Today as I pause, I say thank you to the professionals who serve my industry so well.  Who work tirelessly to navigate a delicate and challenging pathway to provide solutions and opportunities through homeownership.

Today, I pause to celebrate and thank the amazing Broker/Owners and Managers who serve their customers—The Real Estate Agent—and provide opportunity after opportunity. To empower each to earn, learn and serve.  Theirs is a difficult and often thankless job!  They are on the line each and every day.

Today, we ask you to pause. To celebrate and to catch your breath as we ramp up to have the greatest year in your career.  Let’s do this….be a resource not a sales pitch!

Hey Coach, I want to double my income…

You may or may not have said this to your Coach, or even out loud.  But honestly, how many have entertained the thought?  And it’s not limited to sales production. This may also be related to recruiting and increasing the number of agents and quality of sales force in your office.  So, if you are new to the business, a seasoned professional, and/or a Broker/Owner/Manager or Recruiter.  This one is for you!

The first step that I normally take with Clients who want to “double their income” in the upcoming year’s Business Plan is to stop, drop and evaluate the business we’ve closed in the past 12 months and then move forward.  Let’s take a brief look at the steps needed to potentially “double down” and have your best year ever in real estate.

1.  Thoroughly evaluate your “Source (closed) of Sales”
   a.  Transaction side by transaction side, discern where the business came from.
   i.  Drill down to the specific resource which provided the lead; example, if it the source is farming, what specific product was mailed? What was the message? What is the timing (frequency and consistency) of the mailing? Was the collateral mailed snail mail, door knocking or digital?
   b.  Be very intentional with each closing to discern the steps, process, procedure and circumstances around each closed transaction.
2.  Results are in the Details:  Write it down
   a.  Document the history of the transaction
   i.  These details should also be a vital, manageable dimension of your database.  The habits and history of both buyers and sellers is predictable.  Use this to your advantage.
   b.  Once you have results, you may now make comparisons and determine what is the best return on investment of time, money, talent and energy on your part as well as the rest of the team.
3.  Document the response time in servicing each “source of sale”
   This is where we have a coachable moment or two. This is one of the first steps to increase your production and profitability.  The more dependent you are upon technology, the more powerful this evaluation will serve for you.
   a.  What was the time from lead origination to lead contract (either listing or buyer)
   b.  What could have been done to improve the response time?
   c.  How will current systems and processes be modified to shift results?
4.  The art of follow up
   If you were to have a heart-to-heart, eye-to-eye conversation with yourself, what would you discover about where your business may be leaking away from the closing table?
   a.  For each category of “Source of Sales” that you evaluate, ask yourself the tough question of “what slipped through the cracks and was never followed up on?”
   i.  How many leads were mishandled or completely abandoned?
   ii.  How many calls were there that were never returned?
   iii.  How many of my past buyer/sellers were involved in a transaction this year without my professional assistance?
   iv.  What major opportunities were missed that could have promoted the business to a bigger audience in a cost and time effective way?
   a)  Community Events
   b)  Cause Marketing
   c)  Client Appreciation
   b.  What systems are missing that allowed the leak?
   i.  Who/what will provide the solution?
   ii.  Who will execute the details to ensure each is followed up on?
   c.  Where is the accountability?
   i.  Coaching?
   ii.  Systems that remind and badger us until the “task” is complete?
   d.  Financial analysis
   i.  What did the leak (not following up on the lead) cost?
   a)  Current year financial loss
   b)  Professional reputation
   c)  Future business
5. Communication
   As you have now realized, follow-up is vital in the pursuit of doubling or increasing your business from year-to-year. It’s about systems and execution.  Yet don’t overlook clear, concise and intentional communication.
   a.  Ask for the business
   i.  “Who do you know that I should be talking with?” should be the close of each and every conversation you host.  This is by far, the best open-ended question you may ask.  It opens the closing conversation up to much more than buyers and sellers.  It opens the door to a dimensional, comprehensive snapshot into the sphere of the individual or group you are speaking with.
   ii.  Be approachable and open to serve.  Never allow your response to be “so busy” or “so busy I don’t know what to do” … you must appear organized and remain approachable and ready to serve the needs of others.
   b.  Timing is everything
   i.  Ask for the referral at the start of the relationship and not at the closing table.  To repeat, end each conversation with “Who do you know I should be talking to?” and see what happens.  When you raise the awareness of your willingness to serve needs to the beginning of the relationship/transaction, you will be surprised how it will increase your business.
   ii.  All team members should be asking the same question.  Build it into scripts.

“Hey Coach, I want to double my income…” may or may not be where you are, yet refining what you do and when you do it will certainly get you closer to the goal you have set.  And picking up the business you’ve dropped or that has fallen through the cracks will take you over the top and bring repeat business as you will serve to be a resource, and not a sales pitch.

Designing your Dream Team

Transitioning from year to year in our industry is always fascinating.  We look at where we were, we are, and hopefully where we are going!  One thing is for certain, if we want to move forward and not become complacent or stagnant, we must consider doing things smarter and with greater intention.  In other words, some things must change. Often that means transitioning from a solo-entrepreneur into a team status.   Don’t panic. Teams come in all shapes and sizes. Your ideal may be a horizontal team with an administrative professional (licensed or unlicensed) or it may be a vertically designed multi-level enterprise.  There is no right or wrong.  It only needs to fit your mindset, model and business goals.

This Blog entry is dedicated to all professionals in our industry.  If you fulfill the powerful, vital role of Broker/Owner/Manager, only a few terms and roles will need to be changed. The greatest modification is that your consumer is the Agent.  Therefore, please adjust accordingly.  The same tools, resources, systems and principles are vital in all roles.

Right now, pause.  Pause (silently) and think about your future growth and fulfilling your 2018 goals.  What you need more and/or what you need less of?  Odds are, thoughts inclusive of, yet not limited to, these come to mind:

Leads                           Accountability                         Time                            Staff/Support
Education                    CRM                                        Training                       Balance
Systems                      Listings                                    Referrals

Here are the top three things to consider when designing your dream team:

Leverage 

Perhaps the most overused word in today’s real estate world, and for a reason.  Leverage is the secret sauce to add variety, definition, and a viable solution to many of the items listed above.  As we think change and operating our business differently (and different is as wonderful in our industry as disruption), consider the following:  What tasks (jobs) can you give away and NOT take back?

Steps to start the leverage process:

1. Make a list of the following:
   a.  Tasks
   i.  Activities within your daily business
   ii.  Activities from listing to contract
   iii.  Activities from contract to close
   iv.  Marketing to build the business
   b.  Responsibilities
   i.  Specific duties around each activity
   ii.  Detailed and ideal (as if perfected)
   c.  Roles (existing and potential)
   i.  Org Chart Format
   a)  1-3 and 5-year vision
   ii.  Who, what, how, when
   a)  Craft specific job descriptions for each role
   b)  Specify expectations, goals, objectives
2. Evaluate systems:
   a.  Make a comprehensive list of existing systems currently in place to support all real estate processes, procedures and activities.
   i.  Rate each for efficiency and effectiveness
   ii.  Conduct a needs analysis to discern what needs to be abandoned or improved
   b.  Make a comprehensive list of new systems needed
   i.  Rate each with a deadline for implementation
   ii.  Rate for “non-negotiable” to “nice to have”
   c.  Blueprint your strategy
   i.  Match your list of what you are willing to give away and NOT take back (Step 1) with systems (2a and b) to evaluate where you are today and what your next step should be (to help you determine your next hire)
   ii.  Invest as much time as necessary in this step as it is essential and vital to healthy team growth. Begin with the end in mind.
3. Make a list of what your role/responsibility and daily activities will be once Team members are added (as specified in Step 1) completely and systems are executed (in Step 2).
   a.  As the Rainmaker and or Broker/Owner/Manager, how will you invest each day to further grow and build the business?
   b.  What is your strategy for a check and balance of systems running the business?

Talent Search

The most common and most expensive mistake we make in the hiring process is hiring without a plan.  You know, you fall in love with the individuals; their behavior, personality, a kinship and just know you can find the “right place” for them.  Very seldom does this practice lead to success.  Before you start the search, know what you are in search of (see Step 1c above).

Once you have defined the need, we recommend that you hire for attitude and train for skill.  Let’s face it, the true Dream Team had one individual who, although talented beyond measure, was NOT a fit for the Team.  Isiah Thomas, one of the most celebrated basketball players in the history of the game, was not a fit for the 1992 men’s US Olympic Basketball Team (the original Dream Team) because of his attitude.  Keep that in mind.  Not everyone is a fit, regardless of ability and talent.

You are creating a culture, a tribe and a family of sorts.  Unlike your biological members, you have the right, the ability and most significantly the responsibility to build the team well with each player you add.  Do your best and understand that even under the best circumstances, you will make wrong choices.  Adopt and practice the method of hiring slowly and dismissing quickly to minimize the potential damage and impact the incorrect addition will make to the team.

Service and Sustainability

Each addition to the team should add value.  With each hire, you should be able to discern the long-term ROI the member will have on the whole. It may not be immediate, yet there should be an eventual return.

Two key thoughts should always be top of mind when building the Dream Team:

1. Is the Team concept providing an extraordinary level of service to the end-user that you cannot provide as a solo-entrepreneur?   Will the team that you develop bring return business to you?  Will friends, family and associates tell their friends, family, associates and co-workers to use you and your team’s service with their real estate needs?  Currently over 86% of consumers would use their REALTOR^® again, yet less than 15% do.  Why?  They don’t remember us because we have not leveraged talent and systems to hold on to the business we’ve earned.

   Wow!  Pause and think about that for a moment. Please.

2. Do you have an end in mind?  Are you building an entity which will enable you to transfer the ownership of your database and systems to a new owner and earn residual income?

It is often said that simple is seldom easy.  Such is building a Dream Team.  It takes patience, organization, intention and the strength and agility to fail forward.  The benefits are well worth the efforts.

Dream big, execute, and live the life you desire.  Simply stated, be a resource, not a sales pitch.

Making the Most of “The Most Wonderful Time of the Year”

Beyond question, this is “the most wonderful time of the year…”

As life provides us with opportunity and experience (which sounds so much better than “as we get older”), we are reminded and personally experience that for many, the Holidays are not always full of love, laughter and JOY.  That is unfortunate yet a reality.  We should respect each situation and story.

As a Coach, my goal is to help others focus on the positive and the things that they can change rather than being drawn into despair and situations which have little hope and opportunity to improve.  That is why I love our industry.  The real estate industry provides opportunity each and every day for us to make great choices and take action to make a significant difference in the lives of others.

This blog entry is not encouragement to be the sleazy, creepy salesperson that everyone dreads seeing.  It is quite the opposite.  This week’s entry of Tuesday’s with Kathy is dedicated to empowering you to make the most of each opportunity provided to be a stronger, more valuable professional and to make the most of this Season of the year with 4 key thoughts!

Maximize Each Opportunity.
Build a strategy around where you will be and what you will do.  This is the greatest time of the year to live deep in your community and sphere of influence.  Show up where you need to be.  Go where you are celebrated and not just tolerated.  Be present.   May I repeat…BE present.  Be with whom you are with and give them all of you.  Lead with effective communication.

Communicate with Compassion and Clarity.
Exercise caution with this one!  Make sure you always lead and direct your communication to clearly convey the message that “they” are the important ones in the room and conversation, not you.  Be prepared to ask respectful questions to discern who, where, and what the individual’s or group’s needs are in all aspects of life.  Conversation should be more about the relationship than a transaction.

When people ask, “How is your business?” be prepared (scripted) to answer appropriately and to convey a message of knowledge and service not busyness. Be prepared to convey that perhaps you’ve enjoyed an amazing year, the market is great—yet you are never too busy to assist!

Become comfortable and end (and this will take practice) each professional/business conversation with the question, “Who do you know that I should be talking with?” Again, be appropriate.  Be present. Be respectful.  Yet don’t be afraid to ask how you can serve.

Serve.
Wow! This topic totally touches my heart.  Our industry has such power and opportunity to make a difference in each life we touch.  Technology, social media and so many contributing factors have transformed the role of the REALTOR® in the capacity of true “servant leadership”.  So often, home ownership is synonymous with joy! Unfortunately, often the opportunity provided in our business is through difficult situations; death, divorce, relocation.  Fortunately, often the opportunity provided in our business is through difficult situations; death, divorce, relocation…think about it.  What an incredible chance to be a resource, a guide, professional mentor and truly, make a difference in the lives of others.  What an opportunity to transform a difficulty into viable, livable solutions and make a challenging experience a more positive, life-changing event.

We can truly live deeply and make a difference when the “transaction” becomes an exceptional consumer experience.  Even negative and difficult circumstances will be diminished when successful results are combined with a positive and service driven outcome.  When all parties feel “served”, they depart with a sense of gratitude.

Gratitude.
We should practice this daily, yet as we enter this magical time of year, pause and thank those around you with intention and specific words and acts of kindness.   Not only your family and those whom ride alongside and tolerate the challenging career you’ve chosen, but those who provide opportunity and endless support by entrusting you with their business and life.

Give back.  Find your cause and honor and serve with a cheerful spirit and joyful heart.

In all things show grace and gratitude.  Be a resource, not a sales pitch.