Author Archives: Kathy Baker

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In this time of change: Thriving in today’s market is 5 steps away…

Category:KB Consulting Solutions

The residential real estate brokerage industry is in yet another fascinating transition! One that while creating opportunity and flourishing is above all, providing bounty for the true real estate professional.

The casual REALTOR will survive these times, as they always do…but true real estate professionals who are disciplined enough to ignore the “noise,” avoid the distraction and focus on the fundamentals of real estate will thrive! Despite the industry’s current stages of evolution, the real estate professional remains the vital link between Americans and the American dream of home ownership.

The advent of portals rocked the industry. The consolidation and manipulation of them in today’s market space have dominated news and thrown yet another distraction into the world of the real estate professional.

With all the disruption and noise in the market, real estate professionals will have to step up their game by remaining fundamentally sound, practicing good habits like prospecting and farming consistently, and improving their knowledge about real estate, neighborhoods and technology. The greatest opportunity today’s REALTOR faces is the opportunity to change their mindset from a “salesperson” to that of a consultative, interpretive and negotiating facilitator of lifestyle.

Never has the industry experienced so much change, as in the past 5 years and the onset of portals offers new challenges but greater opportunity…What today’s real estate leader must embrace is that what was important last year, or last month, or for that matter, maybe even last week may not be relevant tomorrow.

While the portals want data, the consumer wants guidance. They desire support, knowledge and a trustworthy professional to navigate them successfully through the process. If you are committed to delivering extraordinary customer service and a wonderful experience for the consumer, here are five keys to becoming tomorrow’s leaders today:

  1. Plan your work and work your plan:
    Business planning for today’s professional is critical. Adapt a business plan, review and modify it quarterly and stay true to your goals professionally and personally through accountability.
  2. Build your business to sell!
    Business planning for today’s professional is critical. Adapt a business plan, review and modify it quarterly and stay true to your goals professionally and personally through accountability.
  3. Reach out and Touch Your Sphere:
    Develop and design a marketing campaign that reaches all database members. It should be manageable both physically and financially. People do not care what you know unless they know that you care…and they will not know that you care, and hire you as a professional, if they cannot remember your name.
  4. Practice exceptional communication skills: 
    Communication in our nation has evolved from smoke signals to tweeting…yet consumers still need their voices to be heard. While hearing is one of the 5 senses, listening is an art.
    We should all strive to become artists.
  5. Master your trade:
    Leave no stone unturned in your pursuit of greatness. Strive to become the trusted advisor who knows more about the community, schools, culture, home values and trends than anyone in your market space. Deliver extraordinary customer experiences each time you serve your client or customer. Treat others as you wish to be treated and your business will grow beyond your wildest expectations. Yes, especially in the most confusing and frustrating times in the history of real estate.

Embrace the disruption this market is experiencing. Play hard, play fast, play to win. There has never been a better time to set yourself apart from all competitors!

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This Coach’s Half-Time Report

Category:KB Consulting Solutions

Here is the reality of real estate…mid-year 2017. The business and culture of the industry is changing…the professional REALTOR is savvier; the hobbyist (part-timer) is more disruptive and the consumer is much more intelligent.

As Leaders in the industry, we must step up our game. We must provide extreme leadership and guidance to foster a stronger, more intelligent, dependable and high performing professional to maintain market share, profitability and production. Without having purpose and direction to achieve this objective, our growth will be limited, our profit dwindling and our future questionable.

Here is the best news ever for those willing to engage. For those who desire to play to win…to go for higher production and greater profitability…the future could not hold a greater opportunity than through the talent of the millennials. The most hyper-coached generation of all time, is the perfect gift to our industry. Strong, intelligent, dependable and high performing…subject to the right guidance and direction.

The key to profitability and production for any office rests in the talents and gifts of the coachable millennial whose future can be formed at the hands, heart and soul of an effective real estate Mentor. With the industry’s churn rate maintaining an average of 80%, it’s time to acknowledge that much of the training, coaching and whoop-a-la delivered in our industry over the past decade did not, has not and will not work for the masses. Now is the time to change the model in which education is delivered.

Imagine what will happen when we foster the millennial talent and harvest the existing talent in the industry who is “surviving” yet not “thriving” with a successfully executed Mentor solution. Can you estimate how your increased market share, enhanced sales force and greater production will positively impact your profitability? The opportunity is staggering…

Our job as leaders, is to discern (intentional word) through aggressively identifying and interviewing the right candidates and to provide a successful culture, education system and opportunity for each to enter and dominate the market by evolving into tomorrow’s leaders.

So, what’s next? Do we predict and direct our future by fostering the next generation of professionals? I say yes. Let’s combine the tools, resources, benefits and opportunity provided within your organization with our wisdom and experience of the industry and facilitate a dynamic solution to take the 80% churn rate to an exceptionally high success rate and dramatically impact the industry.

We have one half of this year to play. Let’s play to win!

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