RE/MAX Hallmark Blog

Time for a Shake-Up?

Our real estate industry is in drastic need of a shake-up before it is too late. It may already be too late.

Without fail, every week I receive calls from realtors complaining about other realtors. While our industry has always had this type of occurance, it seems to me a pattern is developing. In the past, mostly I would receive comments from realtors concerning sellers or buyers and their lack of loyalty or some unreasonable expectations. The public would call to complain about the lack of communication from their realtors.

Now, most of my calls go something like this. Mr. Agent calls me to vent about another Mr. Agent and his lack of skill, knowledge, and professionalism. Mr Agent would go on to say, "Too often, realtors are delivering a less than adequate level of service, not only to their clients, but to their peers. and its getting in the way of Mr. Agents business."

Too many of us in the field are not living up to the basic standards required by our liscensing. Some realtors believe all that is need is the proof of liscense to be in this industry. 

What do you think?

I was just thinking...

It seems to me we get so much in our heads about our problems in life. I mean the day to day stuff which tend to get in our way, usually by building up to some over sized drama from bits of nothing.

We have it pretty good, not without problems but by and large we are functioning in an opportunistic business and society, one loaded with adventure, interest and opportunities. But still we tend to default to the problems of the day. I wonder why?

Is it because of the negative media, friends, upbringing, and surroundings? I don't really know what causes us to dwell on our problems but developing the trigger to be greater than our problems is key to a healthy business and personal life.

We need to invent the habit of rising above the day to day "issues" which happen throughout our day, the annoyances, and problems. We take disappointments too seriously.

Having confidence in ourselves to keep moving forward no matter what occurs for us is a good start to being greater than our problems. Being engaged in positive action rather than immobilized with disappointment, fear and resentment will help us all work through issues of the day. 

Acknowledging what we are going through and than dealing with it in a constructive meaningful way is crucial to being greater than our problems.

Building Your Business

Sat in on our E-Myth class today facilitated by Cory Silver of our Yonge Street office. For my money, E-Myth Revisited by Michael Gerber is the best real estate business book ever written. Cory does a sensational job leading the group, encouraging discussion along the way.

Today we talked about entrepreneur behaviour, how to change or alter our way of being from a manager and technician style to a creator style. It's not as easy as one might think. Most of us are natural technicians, doers. We are good at getting "things" done once "things" are laid in front of us.

When asked, most realtors will say the best thing they enjoy about the real estate business is the process of negotiation. Face to face with clients, getting the deal done to the satisfaction of all. It is a real fulfilling experience. But that isn't really what is most important for realtors.

What realtors tend to shy away from most of all is the activity which is most important to our business. Building it. Creating it and implementing ideas. Most of us struggle with the daily processes needed to get us to the most fulfilling part of the work - negotiation.

Building your business each and every day is what matters. E-Myth Revisited presents a great blueprint for every realtor on how to run their business as a business.

 

 

LIttle Changes Matter

Watching an athlete digging down deep when it is most needed is something we all like to see. A pro golfer bearing down, or a hockey player stepping it up when everything is on the line is amazing. There is nothing better.

What about in our business of real estate? How often do we as realtors step it up? For some of us, it might be not enough. Imagine what our business would be like if we were determined to be better at every aspect of our business in a consistent manner. It doesn't take a big stretch to produce exceptional and better results.

Imagine being more engaged with our clients - past and present. Imagine listening more intently and purposefully. Thinking more creatively, following up just a bit better and reacting just a bit less.

The little changes matter and often deliver major returns. Try tweaking your thoughts and your actions just a bit and watch how things turn out differently.

 

The "need" to own real estate is strong

I have never been one to be a "big" investor in stocks and bonds. Don't really know much about this sort of investing, although I do realize the importance it plays in the scheme of things. I suppose I look at the stock market as an quick reference indicator to how things are doing out there in our country and abroad. For me the stock market is so fickle, reacting to so many triggers - it's hard for me to get a handle on it. That's why I primarily stick to real estate investing - preferring long term holds (real estate) over short term. Real estate is something I know and something everyone needs.

Today's stock market is a bit concerning. It seems collectively the markets have decided that the US is headed for a double dip recession. This way of thinking is fueled by terrible job creation rates, the sorry state of the US economy and the continual lack of a plan to get things in financial shape. Europe is in a mess for the most part with talk now of Italy, Spain and Portugal soon needing a Greece like bailout. It doesn't seem good for the short term, BUT what can we - the average consumer and investor do about it all?

We need to think long term rather than reacting to daily news bursts about economies. What little confidence we have in various economies would be shattered if we followed our various news sources with their spin on the negative. Sure we must be aware of how things are, but in the long run - there is nothing much we can do about it.

Keep going about our business. The real estate market will have its ups and down and quite possibly we are heading into a "down period." The down period will consist of fewer sales and a softening on price acceleration. But the need to "own" real estate is strong locally.

In the fall, our real estate markets will continue to be fueled by low mortgage rates, immigration, the local economy, and supply. When the housing supply picks up, turnover will slow down and price acceleration will ease. 

So buy those investment properties, people need a place to rent. Buy a principal residence, in the long term your asset will grow, and if you have the need, buy a recreational property - your choices are great.

One other thing - quit watching and listening to negative news spins - it's all done with a purpose.

In the trenches

An overnight success.... how many times have I heard these three words when people are talking enviously about someone else success. 

Success doesn't happen by accident or overnight, but success in whatever we do takes discipline, commitment and time. And than more time.

Follow the success paths of anyone of consequence and you will see what I mean. Any sports figure or entertainer has put in the time to arrive at their pinnacle. Many stories have been told of now superstars and their time on the road - slugging out their material in small clubs, night after night. Sport figures are no different - riding buses in the minors - year after year to hone their craft. It is a crueling existence, only comforted by the dream of making it one day.

And the dream and commitment to the dream makes it happen and tolerable. Imagine going from town to town night after night for few dollars - performing in front of sparse and often hostile crowds - sleeping in cars or in dingy hotel rooms. Now imagine what that existence would be like without the dream of one day making it. No one would choose that way of life without the dream.

It's necessary and important to put in the time in the trenches. Tough times make a difference in the long haul. New to the business realtors need to understand the journey and embrace it. Often they view the successful realtors in our business and immediately follow their now patterns - forgetting that it took many years of slugging it out in our business to get where they are today.

My advise to any new realtor is to not focus on what a top producer does now, but figure out what they did to get where they are. Talk to them about the early years, how they honed their skills - what they had to overcome to become what they are now in business. 

 

 

How real are your goals?

We all have goals, or at least have some kind of idea of what we want in the form of a goal. But do we just give goal setting and dreaming lip service or are we committed to the goal fulfillment?

I think the thought of having a goal is enough comfort for many of us and actually gets in the way of us achieving our goals. We tend to get comfort by having the illusion of a goal as enough without actually doing anything about it.

How many times have you listened to a smoker and heard him or her say they were going to quit smoking when January 1st rolls along or some other significant date, while they were reaching for another smoke. Or the story of an out of shape person saying :saying as soon as the weather improves....as they lounge their time idly away on the sofa.

Goal fulfillment is a problem in the workplace as well. Many of us think of ourselves as good realtors when in fact we have the habits of non producers. Happens all the time.

So how do you know if the goal you have set is really a goal you want to achieve? In my coaching I have used this test. Determine the most priceless thing in your possession. I don't mean houses or cars, but something which is incredibly priceless to you. Could be a treasured photo of a loved one, sea shells which hold personal memories, or a beat up old guitar given to you by someone special. Ask yourself if you are willing to risk this priceless object to achieve what you say you want to achieve. If the answer is yes - then your goal is real. If the answer is no - then you still are giving lip service to goal setting.

Next - put that priceless object on the line. With someone, commit to losing the object if your goal isn't achieve within a specified time. Give the object to that person, to be returned to you if and only your goal is reached.

Takes guts, but it is a true test of your goal.

 

 

 

 

 

 

 

Be Engaged, Be Prepared and Be Happy

What makes a great realtor? Maybe to try to answer that question it is best to start with what doesn't make a great realtor.

From my many years of being in this business and helping realtors build their business I can tell you for a fact that being disengaged doesn't cut it in our business. So many realtors take the path of least resistance, of just existing through the days. For some reason, the idea which is planted into each and every one of us from the day we start in this business is defeating. We are told that now we can set and plan our own schedules. While in fact we do have this liberty, many of us take it as a green light to unaccountability. I believe it is much easier for a person to have a set schedule, to have to show up to do the work. In most other fields other than real estate, we would be accountable to a superior - in our business we are accountable to ourselves. There sets the problem. We have trouble answering to ourselves. Most realtors are prone to inactivity if given the chance - and lets face it - in the industry we are given the chance to hide out.

To be great in this business we need to embrace the idea of accountability to ourselves first. We must choose the path of running our business as a business - with systems. In my experience, great realtors get down like everyone else, they have bad days - but they are quicker to resurface from under the covers.  Keeping on track is so important by not reacting to the shifts in our moods and market.

I talked with an agent friend of mine the other day. He has been in this business for 20+ years and came to the realization that he was going to have down days and that was ok - it was all part of the business. He was clear  the down days we not going to overwhelm him as in the past.

So great realtors get it. They know each and every day has to be a day of business building. Great realtors own the accountability for their success - they realize in order to grow they need to be engaged, be prepared and to be happy.

Would I want to know?

What would you do? As realtors we have enormous responsibilities. We have a duty to disclose information which is substantial or potentially substantial to the decision making process of our clients. Of course, if the information is confidential to our client - there is a line which isn't to be crossed. But what happens when the situation or information is blurry?

Many time I am asked by our realtors about information they have on a current listing. Some examples may be - there was a suicide in the home several years ago - do I need to disclose that to potential buyers? A neighbour across the street has a habit of playing his music loud ? A member of the family died naturally at home - does that need to be disclosed?

Certainly there are many examples which can be relayed. 

If I am representing a buyer, I have to be very diligent with my work. I need to ask questions. I need to find out what is important for my buyers in living in a neighbourhood. Are they overly sensitive to noise? Are they concerned with crime? A good habit many buyer reps get into is to canvas the street on behalf of their buyers. Meet the neighbours and ask them about their experiences living in the neighbourhood. Any problem houses of note? Some realtors go as far as connecting with the local police department to get a report on crime in the area and problem houses. Any buyer rep worth his or her salt will go the extra mile for their buyer. It is one of the many strong reasons to enter into a buyer representation agreement.

As a buyer rep, I wouldn't stop with canvassing the neighbours or police department. I would directly ask the seller, through their realtor of any problems or problem houses they know of in the immediate vicinity - and I would make the request in writing.

As a listing representative, I need to know what is important to disclose to the public. Information that would have a direct bearing on the value of the property being marketed. Issues like known structural problems or pest infestation are natural to disclose - but what about some of the not so certain issues? 

A noisy neighbour across the street certainly doesn't have any long term effect on the value of the property being sold, a natural death in the home shouldn't either. But what about a suicide or murder? The stigma may cause problems for many.

When in doubt, disclose all known information to the people you are representing and let them decide. As a coop broker, ask a lot of questions. And when in doubt - ask yourself this question - if I were buying this property would I want to know?

 

 

Enough is Enough

When is enough enough? Realtors work in the service industry - does that working environment mean we have to accept abuse from the public for their interpretation of our services provided?

Is there ever an appropriate time for us to stand up to the public for our rights as realtors? For clarity let me give a general example.

A seller lists her  property with one of our realtors. The process is clear and true to form. As an aside, this particular seller has a bit of history to go along with their listing. It seems that the seller was able to have her property listing cancelled from a previous broker. I suspect that the seller wore the other brokerage down.

This seller wants me to cancel the listing one of my realtors now has on her property. For no particular reason other than the seller was able to do it before. The seller is pulling out everything to convince me how evil my realtor and company is for not cancelling the listing, when in fact we have done everything to uphold our end of the contract. I suspect the seller wants to either sell it herself from a contact generated from our work, or the seller wants to carry on her actions with another victim real estate company. The abuse levelled at our firm and realtor is creative and unfounded.

My dilemma. Do I cancel the listing and just move on, or do I take a stand ? Of course I do not want to clutter my life with people who are abusive, but for the life of me I have had enough of people like this thinking they can waste the time of our realtors.

I told this seller that I would respectfully suspend the listing, since I was told that she didn't have any intention of selling the property - but that was not enough for her. Red flags all around with that insistence.

What will likely happen is that this seller will file a consumer complaint with the Real Estate Council of Ontario and I will be called to task to explain my actions.

Moving away from problems is most often the right thing to do, but in this case - I believe enough is enough and a stand must be made.