In my 30 years as a real estate agency management consultant, one of the biggest challenges I see agency leaders face is when the leader is too busy to lead. This can be the agency’s “Achilles Heel”, which stifles growth and profit, and much more.
This problem is particularly acute for leaders who list and sell, . . . more →
Verne Harnish
Verne Harnish is an outstanding business writer. His book “Scaling Up: How a few companies make it and why the rest don’t” is a must-read for every business person.
Verne says that growth sucks cash. If a company is to grow, recruitment processes must be refined and they must work. And you must . . . more →
The Victorian government recently introduced legislation that requires people who want to take a sales position at a real estate agency to first complete a course of 18 units.
In NSW, salespeople can complete a short course and begin working as a salesperson under close supervision but must complete a Certificate IV within four years.
Happy New Year! I hope you’ve had some time with your family after a satisfying and profitable 2021, despite the challenges we faced.
Hope is a positive emotion. The dictionary definition is “A feeling of expectation and desire.” It’s good to have hope.
It’s perfectly fine to hope that the market will continue to boom in 2022, even to . . . more →
Leadership would be so much simpler if it didn’t involve people, wouldn’t it?
People, however, are the reason leadership is necessary. As business owners, it is a skill we should treat seriously because it’s essential.
You can study leadership, or you can learn the hard way through experience, by trial and error, which is not the best . . . more →
Bad behaviour, when allowed to flourish, can destroy a good business.
Like talking detrimentally about clients, treating colleagues with disrespect, or bullying new salespeople. No doubt you’ve seen your share of bad behaviour over the years. Such behaviour must be stepped on quickly.
Some leaders say, “I’m too soft“. Leaders who say that they are ‘soft’ shouldn’t . . . more →
I recently read an industry article about remuneration for salespeople, discussing which was best: salaries or commission-only.
While I do not intend to argue that point now, a comment from an industry leader caused me concern.
This leader said that commission-only percentages varied widely, but the common rule of thumb was that the higher the commission, the less . . . more →
I am not telling you anything you don’t know when I say that rent rolls sell for big money. But what about your sales department – how much is it worth?
Many, if not most, real estate agency owners place little value on their sales department. They believe their sales department isn’t as valuable as their . . . more →
With so many offices making record profits, everybody is busy. But for leaders, you can be busy making sales, or you can be busy running a business. What type of busy are you?
Leaders who spend much of their working week listing and selling can, if they are not careful, fall into the trap of being . . . more →
“Mediocrity requires a big cheque book.”
Gary Pittard
The quality of a sales team should be the main priority for all agency leaders. Allow incompetence to fester in your sales team and the losses can be huge.
Many agency leaders express concern over their present teams. Leaders say that they wish their salespeople would prospect more, . . . more →
No doubt you’ve heard of the saying, ‘Same same, but different’, but sadly this does not often apply in real estate. Most agencies are same, same, but not different.
If you’ve seen one real estate salesperson, you’ve often seen them all – they say similar things to win business. They recommend similar methods of sale. They . . . more →
How is your office going for listings? Would you sell more if you listed more? In Australia and New Zealand, many real estate people are facing the same challenge.
Some offices that complain about a shortage of listings were suffering the same affliction pre-COVID.
If that describes you, it’s time to do something about the problem. If . . . more →
If I asked you to identify somebody in your team whom you’d prefer not to have working in your company, would a name or names come to mind?
Let’s focus on your salespeople. Do all have good attitudes? Do they contribute to the company? Are they supportive of you and fellow team members? Do they work . . . more →
Stagnation. It is the last thing a leader wants to see happening with the team. Yet, in the absence of new challenges – focused activities that challenge the team, putting a month’s focus on high-intensity activity designed to boost results – stagnation is a real possibility.
For example, many offices across Australia and New Zealand are . . . more →
Happy New Year. If you’re just back from a break, I hope you’re refreshed and ready for a new year. A new year of results and profit.
Some real estate businesses did well throughout the pandemic (with the exception of certain state lockdowns). Previous and post lockdowns, trade results appeared to be healthy.
Business has been good for many agents in 2020, despite the COVID-19 pandemic, but it’s not forecast to stay that way. Experts are forecasting difficult times in 2021 as the economic fallout of the pandemic bites.
Please don’t think that I’m trying to scare you, or talking the market down. On the contrary, I’m trying to . . . more →
“One size fits all” is said to be the biggest lie told in retail. And we all know it’s untrue.
It’s the same with leadership. One management style does not fit all. Leaders who manage all salespeople the same way risk losing their best performers.
Agency leaders often complain that they can’t find good people. This mindset can lead you to tolerate poor performers. And if you don’t believe you can find better people, you won’t try to replace them.
It’s true that before the COVID-19 pandemic, there was a lot of competition for the right people.
As leaders we’ve spent a large part of the year dealing with uncertainty, perhaps even dealing with our fears and with those of our team members and our clients.
So, where to from here? To a large degree, that’s up to you.
COVID-19 has certainly made business interesting, but many agencies are still reporting good sales results. Not all, I might add.
Prior to the pandemic, agencies were complaining of a shortage of listings. Those complaints died down as agency leaders had bigger priorities to focus on, but once things settled down the same complaint returned: “Listings are . . . more →
There is an old saying which says, “If you want to be successful, just do the opposite to what the majority is doing”. My experience has been that this is often correct. Following the crowd can be unprofitable.
There is much business uncertainty surrounding the COVID-19 outbreak. This follows on from a prolonged drought, an unprecedented . . . more →