Leadership Lessons from the Top

Eleven industry experts share their insights on the ?must-have? leadership skills in today?s market
by Julie Escobar

?In times of change, learners inherit the earth, while the learned find themselves beautifully equipped to deal with a world that no longer exists.? This Eric Hoffer quote succinctly illustrates the importance of changing with and adapting to our ever-shifting industry.

To that end, we looked to some very learned industry experts who also happen to be some of our favorite ?learners? (and teachers) to explore their best advice for brokers and managers in today?s challenging times.

Here is what our special guests-Floyd Wickman, Mr. InterviewTM-Michael Krisa, Bill Barrett, Darryl Davis, Carol Johnson, Mr. Internet?-Michael Russer, Matthew Ferry, Walter Sanford, Dave Beson, Claudia Wicks and Judy Ladeur-had to say about keeping agents motivated during these trying times:

1. Industry icon Floyd Wickman: My best advice for management today? Start with accountability. If there?s ever been a time to raise standards, it?s now. If there?s ever been a time when an owner should say, ?In order to work on our team, in our family, we have basic requirements,? it?s now. I?m reminded of a broker who once said, ?My people wouldn?t live up to my standards, so I lowered them.? That?s the opposite of what needs to be done.
Second, insist that your people do the basics. Any broker who does a quick analysis of his or her agents by asking, ?How many prospective buyers, sellers or lookers have you been face-to-face with in the past two weeks?? will likely be shocked at the answer. Agents say they?re hungry, but are they doing what they need to do to move ahead? The solution is to get face-to-face with their customers. So many are face-to-face with the mirror, each other and their families right now-but the real answer is to see the people and get out there with customers.
Next, work as a team. ?Teamwork makes the dream work,? as they say. It creates synergy, and if there was ever a time when we needed synergy, it?s now. I?m on a quest to show brokers how to convert their office of individuals into ONE TEAM. We?re seeing some pretty powerful results because of it, so we know that it works.

2. Mr. InterviewTM, Michael Krisa: Now is NOT the time to cut back on training and marketing. Seek out the gurus with proven track records who know how to make agents succeed in tough times, and bring them in for webinars, seminars, etc. In tough times, agents are looking for leadership. Brokers and managers have to step up and fill those shoes or risk losing their agents to brokers who can.

3. Real estate and trends expert Bill Barrett: Brokers need to motivate their salespeople now more than ever. Bring in speakers, offer training and give them the best techniques in the industry. Practical ideas and real-world solutions are critical. Help them discover the best ideas on the market to move their listings. The typical reaction to tough markets is to STOP-marketing, working, everything. The ones who are making the impact and capturing the market share are the ones still investing in their marketing.

4. Noted speaker Darryl Davis: You need to show confidence in the upswing of the market. There?s an old adage that says if you?re on the front lines and the enemy is shooting at you, don?t turn to the platoon and say, ?What do we do?? Agents need four things right now: leadership, consistency, confidence and a plan! I recommend every 30, 60 or 90 days, have your agents focus on niche activity that forces them to be proactive rather than reactive. Next, create a family or team atmosphere, which minimizes the backstabbing and bickering.

5. Recruiting pioneer Carol Johnson: Communication and leadership are essential. Agents are desperate for guidance and leadership as to how to proceed in the market. Productivity is key-keep them focused on market potential and strengths in their area. Do the things that will give them immediate production so that they are set to come out ahead of competition when the market makes a turn.

Add extra classes, tools and meetings; your agents will win, the others will lose. Programs like Floyd Wickman?s that really put a target in front of people and help them move in the direction of that target are great. Tools like the ones from ProspectsPLUS! are essential, as well.

6. Mr. Internet?, Michael Russer: Well, I have a little different take. I suggest that brokers only work with certain agents, of which I believe there are three types:
Cool Cats – Coachable agents who see challenges and opportunities – These are the ONLY agents to work with and represent about 5% to 10% of the market.

Tom Cats – Agents who aren?t really in business. They go from transaction to transaction, which is much like a prison that happens to pay a commission.
Fat Cats – These guys have been in the business forever and have that ?don?t bother me? attitude. So you don?t and shouldn?t.

Find the Cool Cats who are making their successes visible, and you?ll see the Tom Cats who want to become one of them. Set your standards very high, and create an elite core group of agents that?s committed and poised to make it through tough times.

7. Industry coach Matthew Ferry: The dictionary defines motivation as ?provided with an incentive for action.? This means that the person taking the action doesn?t really want to do it. That?s why they need to be motivated. I prefer to work with inspiration defined as ?imbued with the spirit to do something.? The best thing a broker can do today is help each agent discover his or her purpose and insert it back into his or her real estate career. This will inspire them to take ?right action? and get back in the game. When people are inspired, they don?t need encouragement, they just take powerful action. I call this inspired action.

8. Real estate expert Walter Sanford: Quit waiting for the market to change; have your agents change instead. They need to know how to walk away from under-motivated buyers and sellers. They need to write tighter contracts, close transactions faster and know which business to walk away from. In most cases, they also need to triple their listing inventory to generate the same activity that they had in 2006.

9. Industry icon Dave Beson: Tighten your belt, then tighten your belt again. Cut costs, and focus on profitable activities. Focus on the ones who want to work and who want to win. Get the ?tigers? in the office, even if there are just two of them, to come in or to meet somewhere where you can share ideas. Bring treats, pour coffee, and have a fun hour. Then ask each of the tigers to nominate one person from the office who they think should be at the meeting. Make sure those people are invited next week. Go out of your way to get one or two people to join in. Have these meetings, say, at 2:30 on Thursday. Get noticed.

10. Speaker and trainer Claudia Wicks: Provide needed training: negotiating skills, prospecting skills, contracts, financing options and, most important, training on internet marketing and tech tools. According to NAR, 84% of consumers are going online to search for property. This is the time for agents to learn, while they unfortunately are not as busy as they would like to be. It is a chance for them to practice and prepare to handle the Gen X and Y consumers. John Tuccillo predicted at the NAR convention in Las Vegas last November that there will be a tsunami of Gen X and Y buyers beginning in 2010. We already see it happening; make sure your agents are ready!

11. Recruiting guru Judy LaDeur: It all starts at the top. Your agents will follow your example, so find something positive to feed them each week. Show the productive ones that they are in the top 10% of agents nationwide, or whatever the correct number would be for your staff. Right now, 80% of agents are doing very little or no business, which means that the productive ones are among the top percentile of agents in the nation. Create a great press release for agents to use in the local paper or in a letter to their sphere of influence. Bottom line: If your agents are discouraged and worried, take a look in the mirror, do a check-up from the neck up, and see if there is something that you could be doing to change the attitude and motivation in your office.
Thanks to all of our exceptional panelists for some great advice and insight on how leaders can take their companies and their agents? careers to the next level, regardless of the market. Their willingness to help us reach out to the thousands of real estate professionals seeking solutions to today?s challenges is priceless on a number of levels.

Keep an eye out for the other three parts of this series: Just Two Things?; The Smartest Thing You Can do to Build Your Business; and Motivated-Me? Our generous experts shared more than 20 pages of insight, inspiration and information on these vital topics. Visit our blog, visit our site at www.prospectsplus.com, or email me directly to learn more about this timely series.
ProspectsPLUS! provides the tools and information you need to find and implement the strategies necessary to propel your production in any market. Visit our blog at blog.prospectsplus.com, or discover the many solutions offered online at www.prospectsplus.com. Julie can be reached at julie.escobar@prospectsplus.com or (866) 405-3641

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