RISMedia's Real Estate Magazine

OCT 2018

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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RISMedia's REAL ESTATE October 2018 81 {Power Teams} W hile rolling out a new team training solution for a nation- al brand, we recently encountered several broker/owners who asked the same question: If this is a team training solution, what do we do for those agents who aren't par t of a team? After pondering and answering the question above, and to add clarity in my mind about the difference be- tween an agent and a team, let's be- gin by discussing the agent: - Does the agent work with buyers? - Does the agent work with sellers? - Does the agent have to process transactions and orchestrate clos- ings on behalf of their client? The answer to all of these ques- tions is, of course, yes. And while teams do these very same things, the only difference lies in who performs each task. I know many successful agents who have made amazing lives for themselves and their families while serving their clients well. As the transaction gets more and more complicated—and new business models continue to put downward pressure on the income available to agents—more and more agents are looking for leverage in their life and their business. This creates what I like to call a choice point, or the moment when an agent be - gins to realize that they're working more hours, spend- ing more time away from their families or friends and losing oppor- tunities because they don't have the time or the energy to take on more business. If you're this agent—or you rec- ognize agents in your firm that are running at 60 miles an hour in first gear—know that these agents are what we consider at-risk. Eventually, something will give. Agents who fall into this category typically have high levels of burnout. Additionally, their home lives often become inundated with stress, and they stop doing the things they love. Whether this sounds like you or a colleague, I'm here to tell you that there's an answer: leverage. Leverage comes in a variety of forms and is simpler than it seems. First, we must leverage technology, tools and systems to automate more of our processes. For example, use a transaction management system that tracks every detail of a contract in order to keep yourself in check so that you don't drop the ball. From there, you'll want to incorpo - rate leverage in the form of other hu- mans. Today's consumer expects to work with experts in more situations than not. And when real estate is done correctly, experts are available in each area of the transaction. For example, buyer's agents that close 24 - 60 transactions a year have a competitive edge over those that are closing less transactions. The same goes for listing agents who primarily focus on prospecting, obtaining list - ings and negotiating contracts. Both buyer's agents and listing agents hand off transactions to a client care coordinator who takes the process from contract to close. Creating leverage is only hard if you believe you're the only person in the world who can deliver great service to your client. Great people trained with great systems can create amazing leverage in your busi - ness and allow you to grow, service your clients at a higher level, and live an amazing life. Verl Workman is the founder and CEO of Workman Success Systems (385-282-7112), an international speaking, consulting and coaching company that specializes in performance coaching and building successful power agents and teams. Contact him at Verl@WorkmanSuccessSystems.com. Leverage: The Only Difference by Verl Workman

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