Category Archives: real estate

Serving the Newbies

17 Wednesday Oct 2018

Posted by in Leadership, Liberty, MO, real estate, Real Estate Career Advice

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As you know, real estate is a service industry, but who serves the servers?

I’ve been helping new and experienced agents in this business for 18 years as of last weekend. Yes, minor milestone there, yay me. My yearly work anniversary always falls right near Bosses Day.

It’s hilarious when my agents come into the office and wish me a happy bosses day. We both have a giggle because I see myself as more of a partner to them than an actual ‘you must do things this way’ boss. Sure, they recognize the leadership and sacrifice that also comes with that term, but it’s rare for any of us to feel I exert my power over them. This is what I’ve really come to appreciate about what I actually do.

I serve.

What do new agents need most when they launch their solopreneur real estate career? Training? Of course. Money? That, too. Patience? Absolutely. What I’ve really found is all of this takes care of itself with a bit of confidence. As someone that lives and breathes this business, it’s easy to get lost in the minutiae of onboarding a new agent. Get their business cards. Teach them how to market themselves. Show them how to roll through showings, listing appointments, contracts and on, and on, and on. But, when that is done, where do you go? How does one continue to prepare real estate

agents for successful careers? I feel it’s such a delicate balance between education, expectation and heavy inspiration. You see, you have to COMMIT to serving the newbies. Experienced agents will experience the level of success they decide to each year. They already know the ropes and your role becomes more of a friend, confidante and adviser. But until the new agents realize success, they need you. I’m not going to lie. It’s work. It’s witnessing the ugly cry, throw everything, headaches, eye rolls, anger, frustration, desperation, depression—24/7 work. They need your full time dedication to them.

It’s work I’ve committed to year after year after beautiful year.

The real estate market has been super hot for a couple of years now and I’ve heard from countless agents about how they want to run their own brokerage and take a position like mine. It all seems so glamorous, right? Glad you see me that way! What they don’t take into account is the level of commitment a broker makes to their agents. MUST make to their agents. If you want to enjoy a steady career as a managing broker or a broker owner, there has to be an overarching commitment to SERVICE.

If you’re new or new-ish and you’ve found yourself grasping to take hold of this career, please get a hold of me. There’s no need for your dreams to wash away because nobody had the dedication to help you achieve them.

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Obligatory Back Scratching

03 Tuesday Apr 2018

Posted by in Random Thoughts, real estate

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I scratch your back and then you…wait…I should scratch yours again?

Okay, now. Time to…what, you want something else?

Grrr. green-monkeys-monkey-old-world-monkey-monkey-family-66865.jpeg

Listen up. I’m not under any obligation to give anyone, or promote anyone’s, business. If you’re amazing at what you do and you consistently deliver stellar service, you will be in my circle. Being in my circle means that I’m going to be your cheerleader. Whether you need a pick-me-up, someone to vouch for you or just an extra recommendation, I’ll be there. As a matter of fact, I will sing your praises whether you’ve asked me to or not. I recognize great service and I definitely know that it can make or break a business, so I’m always trying to give a shout-out to those that deserve it. I enjoy it so much, I’ll take the time to consider where to put my reviews so they’ll have the most impact and also take time to word it properly so everyone will know just how incredible the experience was.

Let’s deal with the ‘rest’ now. You know who you are. Because of some invisible obligation you’ve assumed, you expect to receive recommendations or my business basically for nothing. Lately, there’s even been several who have either been non-responsive to my questions, flat out rude, or just plain condescending. Guess what, see that first sentence in the paragraph above? I’m more than done.

Right now my mom would be saying, “Joanna, turn the other cheek.” Well, I’m all out of cheeks to turn.

Please remember, there’s lots of places I can choose to take my business and your bad behavior has removed you from my ‘circle’.

Hopefully, we’ll see everyone go back to a higher level of service soon. However, I’m afraid I’m currently seeing this disgusting trend get worse. Why? Why would anyone expect people to continue to do business with them after being a jerk? Entitled much? There’s a HIGH level of competition right now and many would be best served to take a look at that competition and learn to do better.

Let’s work together and build our businesses up

Goals and Accountability

16 Thursday Mar 2017

Posted by in real estate, Real Estate Career Advice

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In meeting with my agents, many of them set goals with me for the coming year. We always discuss the goal, the why and the how. Then, it’s up to me and them to follow up to create accountability.

There’s something that has to be crystal clear before you enter into a situation like this with someone you’re coaching…Whose Goal Is It?

If it’s my goal for them, it just doesn’t hold as much weight. They have to set it themselves. Over the years, as I’ve held some accountable, there’s been grouchiness associated with my expectation of them. These are the times where they need to be reminded of their why and their how. If you’re a coach and you have their goals in their handwriting, it’s even more powerful.

Not everyone likes to be coached or even likes a particular, painful coaching method. Some enjoy many successful years without ever setting a goal. In real estate, leaders have to know when to push and when to let it go. However, if a leader has been asked to be an accountability partner and has agreed to it, the number one priority is to keep their word. Even when you’re struck with hurtful things like them thinking you don’t care about their personal success. Be consistent and be authentic. If you can’t enhance the goal, send them to another coach. You’re not going to do anyone any favors, or do any good for your culture if you promise to hold someone accountable and then slack off yourself.

No, it’s not YOUR goal, but it’s YOUR culture and YOUR future.

Real Estate Isn’t Uber

11 Wednesday Jan 2017

Posted by in Random Thoughts, real estate, Real Estate Career Advice

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Whew.

I’ve said this line more than I should have needed to over the last few weeks.

Yes, the real estate market has been great for the last couple of years. Lots of agents hitting goals, humble bragging on social media, taking luxurious (well-deserved) vacations and enjoying the fruits of their labor. It’s easy to see this and think, ‘hey, I’m going to jump into real estate and make a few quick bucks on the side’.

Unfortunately, I keep hearing this over and over again, but, I’m sorry, you’re not going to work for me. We’ll talk, I’ll tell you what it takes. I won’t sugar coat it. And, when you tell me you aren’t planning to make it a full-time career soon or in the future, I’ll wish you well and we will part ways after I make myself crystal clear.

You see, real estate IS the career. It’s not the side gig. It’s not Uber. It’s handling the largest transaction in people’s lives. It’s emotional, it’s deep, it requires professional knowledge of the market and the process.

Let’s take real estate out of the picture for a second. It’s your anniversary and you’d love to take your spouse to the best restaurant in town. It’s the best restaurant, so you’re making reservations and counting on them to deliver an amazing experience. From the greeting at the door, to the meal and dessert, you’re sure that your money will be well-spent at this place. Your spouse will be totally impressed and you’ll have an enjoyable evening. Get the picture? So, you walk in and you’re greeted by a frazzled host that seems to have lost your reservation. They say, ‘sorry, the entire regular staff is out sick and they called in some temps to help out. I only use this computer system once a year, I’m sure your reservation is there and I’ll seat you as soon as I find it.’ Suddenly, that awesome night you were counting on turns into a nightmare. <—All this stress was just over a meal. Can you imagine that type of experience with an agent? Would you want someone who’s only dipped their toe into real estate assisting you with the largest transaction of your life?

The behind the scenes of those beautiful vacations and surpassed goals is much more than what everyone sees on the surface. Real estate is an all-consuming career that requires dedication and focus. You certainly cannot be working that 40 hour per week job and provide the level of customer service consumers have come to expect from their real estate professional. During those 40 hours, you’ll be missing calls, saying you can’t show at that time, hiring someone else to handle the inspections and so much more. You’ll have to lean on your co-workers and probably stress out the agent on the other end of the deal.

Are there agents that do this and get away with it? Sure, they’re everywhere. Now, I’m not saying an agent can’t have a couple of side gigs beyond their real estate career; a few hours here and there is totally manageable and sometimes even enhances your career. If that side gig is a position where you come in contact with lots of people and also get to talk about real estate, it’s a definite networking bonus. Many agents volunteer, or are on boards, are involved with the city or other groups, etc, etc. You see, these are side gigs. Uber is the side gig, real estate is the career, and I simply don’t have the time or the need to hire anyone that doesn’t understand or respect this.

I don’t have the need. You see, my company is different. We hire for professionalism. We hire for reputation. We hire to give the consumer the best experience. There is no number on my head that says I’ll be fired if I don’t hire xxx number of people. We simply don’t operate that way. It’s why I’ve stayed in my position with my company. We believe in the industry and we believe in the professionalism of it. I know the weight of a transaction and I respect it. I see first-hand how hard it is not only to earn the money for that beautiful vacation, but to actually let someone handle things while you take it.

There are companies that will accept and/or encourage those that want real estate as a part-time job. It’s simply not me.

 

Millennials–Have We Been Wrong All Along?

13 Friday May 2016

Posted by in Random Thoughts, real estate, Real Estate Career Advice

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I’ve done it. I’ve read every single article I could get my hands on about millennials. Frankly, I’m really tired of calling them millennials and putting them under a microscope. But, the truth is, we have to. They are a huge generation of young consumers that’s hit the world by storm. I’ve had the privilege to raise 2 of them and have hired a few of them as real estate agents in my office.

Today, I’d love to bend your ear and debunk some of the myths.

The first one, every millennial loves and embraces social media, is so false and it really was a major surprise to me. For the most part, the millennials I’ve encountered pay little, if any, attention to social media. Sure, they’ll flip through Facebook/Twitter/Snapchat every now and then, but they aren’t anywhere near as addicted as GenXers. They grew up with it and it may have been something fun they did as kids, but it seems to be like they’ve left it behind and are a bit bored with it now. They seem to value the connection, but it isn’t their whole world.

Continue reading →

What’s in a name?

12 Saturday Mar 2016

Posted by in Random Thoughts, real estate, Real Estate Career Advice

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Wow, this really is the era of pushing the limits. Every single day it seems I see another agent’s email signature, flyer, Facebook page, YouTube video or other media clearly showing their name, their team name, their cell phone number and little else. I’m here to warn you, this cannot last.

The Kansas Real Estate Commission and the Missouri Real Estate Commission have a set of rules we all learned when we got our licenses. One of those rules states we must clearly state our brokerage on all forms of advertising.

Here’s the Kansas rule:

(b) Except as specified by subsection (c), all advertising conducted by a licensee shall: (A) Be conducted under the direct supervision of the supervising broker or branch broker; (B) include the name of the supervising broker’s trade name or business name by prominently and conspicuously displaying or announcing the supervising broker’s trade name or business name in a readable and identifiable manner; and (C) include any other information that the supervising broker or branch broker considers necessary.

And here’s Missouri’s:

(3) Every advertisement of real estate by a licensee where the licensee has no interest in the real estate shall be made under the direct supervision and in the name of the broker or firm who holds the licensee’s license. If the licensee’s name or telephone number, or both, is used in any advertisement, the advertisement also shall include the name and telephone number of the broker or firm who holds the licensee’s license.

In school, we learned this was for the protection of the consumer. The consumer needs to clearly understand we are licensed real estate agents working under a certain brokerage. Why? Isn’t this just another blog post warning about those stupid rules? Why do I need to follow those? It’s just something my broker created so I can advertise them instead of me!!! It’s my business, my leads belong to me and if I put the company’s name on anything, those leads will be lost through the office.

Don’t get me wrong. I’m all for agent branding, niche marketing, personal websites, Facebook business pages and all facets of creative real estate marketing. However, I really think we should all try to protect the consumer. Here’s the issue. If a consumer is working with us and something goes wrong, they have no idea there’s a bigger company behind that agent, and in turn, feels there’s nobody to turn to about an issue. <—-That, my friends, is a BIG problem. We’ve spent 102 years creating a better profession. 102 years of becoming better, more ethical, more protective of the people we serve.

102 years.

And now, after 102 years, everyone decides they want to build their personal brand and disregard the rules set forth by the real estate commissions. It’s misleading which also makes it unethical, which means you’re freely using the distinction of being a REALTOR that subscribes to the Code of Ethics while blatantly going against it.

Not only that, a large majority of agents belong to a company that’s part of a larger franchise. Our company agreements with those franchises clearly state the company name under which we operate. Manipulating that company name for your personal use by leaving off or rearranging words violates that franchise agreement. Who cares? Well, I bet the franchise cares. The broker definitely cares.. YOU should care. You see, manipulating the name of the company DILUTES THE BRAND. Why did you choose the company in the first place? The reputation of the brand? The popularity of the brand? The size of the brand? And here you come along and do anything you want to dilute that message  Lets take a brand like Starbucks and consider the thought of every single Starbucks store creating their own Facebook page. One employee names their page Starbucks Coffee Store, another one types it in wrong and goes by Storbucks, another goes by Your KC Starbucks, how about Starbucks Local….. You get the point. It dilutes the brand. Unfortunately a-POPnd fortunately, the real estate world operates differently. Agents are allowed and encouraged to create a brand within a brand. (As long as it meets the company guidelines and the real estate commission guidelines and the NAR Code of Ethics)

Dear consumers, on behalf of the real estate community, I truly apologize. We’ve let this issue get so far out of hand, we’ll need to fight hard to find our way back. Please know, it’s okay to ask an agent about the company they’re associated with. It’s okay to find out the name of their managing broker. After all, this was created for your protection.

I’ll get off my soapbox now, but not without warning. More rules are coming. Stricter protection of the rules will happen. Tell me, what’s really the harm in complying? What’s the harm in having a chat with your broker about what’s right and wrong? Wouldn’t you rather boost the power of the brand you’ve chosen instead of diluting it? Be Better. Talk to your friends, say something at a sales meeting, invite a trainer into your office. Take a stand and make it right. Protect your friends, while protecting your office, while protecting your brand…all while protecting those wonderful consumers. It’s an incredibly professional decision, 102 years in the making.

So You Want to Run a Real Estate Office

08 Tuesday Mar 2016

Posted by in Home Buyer Advice, Random Thoughts, real estate, Real Estate Career Advice

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Several times a week, an agent or friend tells me how they’d love to have a job like mine.

In their minds, I receive the benefit of the fun of real estate sales without having to get into the nitty gritty part of showing or listing homes. I get to sit at my desk all day and check contracts, talk and laugh with the agents and walk through beautiful properties whenever I want. All for a salary!!! Heck, why not?

Ha!

I love my job. I love what I do for my people. I love the good and the bad days. It’s perfect for me. That being said, it isn’t perfect for everyone. Not only has the industry evolved, management has been forced to evolve as well. If you’re going to lead a real estate office you’re going to need a wide range of skills in order to compete in the marketplace. (And we’re all competing. We’re competing to be the best office, to be the top selling office, some want to be the largest office, the most fun office, the most skilled office, etc)

It’s definitely not what it used to be…and that’s a good thing.

Essentially the job is the same, but there is so much more to it now. For example, in the past, it didn’t matter if the managing broker of the office could cook. Well, these days, with social media, everyone is sharing how their broker made them the ‘best breakfast’ for sales meeting. They’ve upped the ante and you either become that great or you overcompensate with something else. When was the last time an employee at a 9-5 job walked into their manager’s office and asked them how to fix their cell phone? It’s happening every single day in the real estate world. How about the conversations about the best ways to advertise a new listing on Facebook? Is your broker comfortable with digital signatures, digital contracts and all sorts of digital communication? Well, today, they have to be. How much time do most people spend researching new apps geared towards their profession? Most brokers I know spend an incredible amount of time on research.

When you place all of that on top of an already intense career, you’ll find what a tremendous amount of passion one needs in order to WANT to stay in a position like this. Yes, it’s 24/7 (almost, I utilize the Do Not Disturb on my phone). It doesn’t have to be 24/7, but you are responsible for the actions of your agents. When they have a question, I fully intend to answer it quickly in order to stay out of trouble.

Yes, it can be stressful. A home is usually the largest purchase most people make in their lives, so transactions can get tense quickly. Plus, managers are dealing with independent contractors, not employees. So there’s suggestions and best practices, but no orders to be followed.

Yes, it’s really fun. There isn’t a day that goes by that we don’t laugh hysterically at something. Plus, the diversity of getting to do something different every single day is fabulous.

Overall, it’s consistently intense and busy. I find I enjoy the challenges and the way the days seem to really fly by. I have a passion for it, though, do you?

Are you ready to lead?

Does the grass look a little less green to you now because these things seem over the top or outside of your job description? It’s a lot to think about. I’m always happy to discuss this type of career with anyone that’s interested. Please don’t hesitate to ask.

The Magic in Listing Preparation

27 Thursday Aug 2015

Posted by in Home Maintenance, Home Seller Advice, Moving, real estate

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If you’re thinking about putting your home on the market, you’re likely to interview more than one agent. Some will show up, look at your house, discuss pricing and put the sign in the yard. Others will take the time to talk to you about staging, photography scheduling, pricing and how to make sure your house wins against the competition. If it’s been a while since you’ve sold a home, you might think the 2 agents are comparable to one another. However, you really need to look deeper.

You see, there’s something that second agent knows (and the first one might, too). Every single residential resale home that is put on the market to be sold needs to win a beauty contest in order to secure the highest price in the least amount of time. Continue reading →

Add Some Sugar: Cooperative Emailing

02 Thursday Jul 2015

Posted by in Random Thoughts, real estate, Real Estate Career Advice

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Years ago, during a real estate convention, I heard the incredible Tim Sanders speak about goals, being cooperative and always giving everything you can. It lead me to start following him and reading his books. I was intrigued to find someone with the same values as me that had experienced so much success. The first book I read, Love Is The Killer App confirmed that it’s really okay, even better, to be what he endearingly calls a Lovecat. There’s been times I’ve been told I’m too nice to succeed—which was a shock to hear. If I have to choose values over money, values win every single time.

Lovecat vs. Tyrant

As a managing broker of a small, but busy, real estate office, much of my job is advising the agents on working through their transactions. Trust me, when it’s the biggest transaction of a person’s life, there can be issues on top of emotions on top of issues. Most days, you’ll find me at my desk or hovering over an agent’s computer reading an email that usually trails a phone conversation about details. Why am I taking the time to do this? Well, when you’re conveying a difficult message, it’s easy to talk on the phone and in person and hear voice inflections of the other party and read when they’re concerned about something. You keep your voice calm and pause as needed to help manage and diffuse. However, there are times when messages have to be delivered or re-stated via email, so all parties can understand the same message. This takes tact. I love that the agents trust me to help them with these delicate messages. My personal “Lovecat” advice phrase is: You’ll need to add some sugar. sugar

I completely believe that the tone of an email or text can break deals, just as it can break relationships in your every day life. I receive an average of 75+ emails a day. Rarely does anyone take the time to stop and consider how the person on the other end of the web will feel when they read an email. How can I tell? There’s just no personal touch. There’s no sugar. There’s no please’s or thank you’s. Simple directives can come across as demands. Lighthearted jokes can offend. Short, quick responses can come off as cold.

Whether my agents are emailing a cooperating agent or one of their customers/clients, the importance of finding the right words remains. Reputation is of utmost importance in the service industry. Some well placed SUGAR goes a long way.

You’re Going to Need Help

01 Wednesday Jul 2015

Posted by in Home Buyer Advice, Home Seller Advice, Kansas City Market Stats, real estate

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I’ve been in the real estate market almost 15 years now and I’ve never witnessed a market like Kansas City is experiencing this year. We’ve been talking for months about the inventory shortage and low interest rates. What this has created is a plethora of difficulties in the real estate world. I feel like so many people are still trying to ‘go it alone’ when it comes to buying and selling and I worry, especially right now, they may be in over their heads. When people that aren’t being represented run into issues, the first person they tend to call is a REALTOR to ask their advice. This has been happening more and more, and most often, the agent will give a small piece of advice and then bow out unless they’re going to be hired to represent the deal. These situations have been common lately—are you prepared to handle them on your own?

1. Buyer bidding wars. Are you ready with your offer on paper? What will the market bear in this neighborhood, how high can you bid? What are the risks involved with going over asking price? What items can help strengthen your offer?

2. Seller remorse. A seller puts their home on the market and sells it on the first day. Some sellers are ecstatic, others are unprepared to move quickly and may think they under-priced their home. How do you deal with this? How can you help the seller feel more comfortable?

3. Low appraisal. What can happen when the appraisal comes in under contract price after a bidding war? What are your options as a buyer? What are the sellers options?

4. Backup offers and inspections. When there’s a bidding war and the ‘losing’ party still wants the house, they have the option of putting in a backup offer that will take over if the winning offer falls through. This can usually happen during inspections. What can the winning party do to keep the offer together instead of having the seller just balk and go to the next buyer?

5. Buyer remorse. Buyers today can feel like they were rushed into making an offer because of the low inventory, then feel like they overpaid. What can sellers do to keep the buyer on the line when they’re feeling some of that remorse creep in?

As you can see….You’re (most likely) Going to Need Help when buying or selling right now. Hiring a REALTOR skilled in negotiations with a calm demeanor can make all the difference. It’s an interesting market out there and I really would advise everyone to seriously consider hiring someone to help guide you through your transaction.