Category Archives: For Realtors

Why do brokers "burn bridges" with departing agents?

Why do they?

I mean, come on… why would you be a jerk to an agent that has chosen (for their own personal reasons) to leave your brokerage and go with another brokerage?

Wouldn’t it be in your best interest to retain a good working relationship with that agent?

Some say “Why?” – I say for at least 2 good business reasons.  “Your agents will be working with them on future transactions” and “You never know when something will change in their lives and/or business, or the life and/or business of the brokerage they are changing to” which means: don’t burn the bridge, they might want (or need) to return to your brokerage.

Perhaps the brokers that are jerks are the ones that know that they lost those agents because of simply being a jerk.

Who knows.  Thoughts to ponder…

Trash talking your agents – you never know who is listening

I was in a class the other day – there were also 3 other broker/owners (from 3 different firms) in that same class.

Overheard 1 broker/owner make a derogatory comment about one of their agents – a top producing agent – an agent who has an impeccable reputation both inside (and out) of the industry.

OVERHEARD

I was in shock.  Couldn’t believe that a broker/owner was opening their YAP about one of their agents where someone could hear – and – then I was all – “YES! Everything ISN’T all right in their world” (it happens to be an agent we would love to have at our firm, an agent we’ve been passively recruiting for a couple months now).

That Broker/Owner just gave me the “in” I needed with that agent.

Check.

The Brand Debate – is there really any question?

SKE Realty Group: The Brand Debate

How much does brand matter?  Will a national real estate brokerage brand help your business?  The truth comes from the consumer – in national survey’s and polls, brand does not matter.

As a real estate agent, don’t get caught up in believing that the consumer cares about your brokerage brand – they don’t.  They care about YOU.

Create your own brand.  Create your own business

Stop promising crap – start delivering value

Have you ever heard of the term “under promise and over deliver”?

If so, STOP PROMISING CRAP YOU CAN’T DELIVER ON!

Yeah, it’s that simple.

I see SO many agents & brokers “starting” real estate blogs – and they all start the same: putting up a post explaining what the blog is, what it’s going to have, questions they’ll answer, how often they’ll be doing the blog, etc.

They put forth an expectation of what they will be delivering (with no proof of delivery).

Give them a month.

Heck, give them a week.

They’ll fail the expectation they’ve tried to set for the consumer.

Not only that, no consumer gives a rats butt about what the person “says” they are going to do – the consumer cares only about what you’ve already done.

Stop promising crap – start delivering value.

Designations, Certifications & the "Referral" myth

For the “pushers” of designations and certifications, I always hear this statement “I do/did it for the referrals”.

Really?

Tell me, how many documented, closed, referrals from your designation network did you get in the past 12 months because you have your XYZ  designation (documented, not gut feeling)?

My point?  Don’t pursue designations just because the promoters of the designation say people with XYZ designation earn more or people with XYZ designation get more referrals.  They are selling you the designation!!

Pursue the designation that will help you implement something within your business that will help you serve your clients better.

Your broker should have the knowledge to help you make that choice, after all, your broker has met with you multiple times and knows what your vision is for your business, right?

Education v. Training – which would you rather be involved in?

There’s a lot to be said for people who love learning.  For one thing, they tend to have higher IQ’s.

Do higher IQ’s translate into business success?

Which would you rather be involved in – Real Estate Education (designations, certifications, continuing education, etc) or Real Training (webinars, non-continuing ed sessions, how-to sessions, etc)?

Here’s food for thought from our business coach Darin Persinger with Productivity Junkies and a paraphrased story he tells . . .

Visualize this:

Your child brings home 2 permission slips from school one day.

One is for sex education, the other is for sex training.

Which permission slip are you going to sign?

Is your broker encouraging you to go to every type of education and/or training available?  If they are, why?

Is it about getting designations or certifications?

Does your broker know what you want out of your business (and life) enough to advise you as to the best direction in training you should be attending or which designations you should be pursuing?  If not, why not?

Has your broker asked you about your vision and core values?

Thoughts to ponder . . . Questions to consider . . .

What did 2010 look like for you? Did you work harder, more hours?

Valuable information, nitty gritty, to the point.

Shared by Gary Keller & Jay Papasan in a recent webinar.

Data source: 8 weeks of work by Top Producers in a very shifted market

Conversion ratios:

  • Contacts to Leads = 60%
  • Leads to Listings = 24%
  • Leads to Buyer Agreements = 26%
  • Listings/Agreements to Sales Contracts = 35%
  • Contracts to Closing = 57%

Their conclusion 33 contacts = 1 closed sale.  They also stated that it’s gone up to around 40-45 contacts = 1 closed sale as the market has shifted even more.

Interesting food for thought.  What are your conversion ratios?  Do you track them?  If you don’t, how can you run a successful business?  The answer: you can’t.

Overwhelmed?  Exhausted?  Call me today – Christina Ethridge @ SKE Realty Group 208.769.9464 for a confidential conversation about the direction your real estate business is heading.

Multi-Taskers Have Lower IQ's Than Pot Smokers

Yep.

It’s true.

Don’t believe me?  There’s even a study to prove it.

There is a great coffee mug that reads: “Multi-tasking, the best way to screw up both jobs.” Yet, many of us walk around with our chests out looking for a Foursquare badge for our multitasking promiscuity.
~ Erik Qualmann

Yes!  Who of you can relate to this?  “To be more successful means you are better at multi-tasking”.

Yeah . . NOT.

…the human mind cannot, in fact, multi-task without drastically reducing the quality of our processing. Brain activation for listening is cut in half if the person is trying to process visual input at the same time.”

“A study at The British Institute of Psychiatry showed that checking your email while performing another creative task decreases your IQ in the moment 10 points. That is the equivalent of not sleeping for 36 hours – more than twice the impact of smoking marijuana.”  ~ Josh Waitzkin

In short?  Turn off the computer, turn off the smart phone, give yourself to permission DAILY to get productive work done.

No, you do not need to answer your phone every time it rings, I don’t care what some agents in the industry say, being available 24/7 is not a benefit, it’s a detriment, for your clients.