By Kathleen Black, KBCC
The real estate and property management industries are uniquely positioned to benefit from big data. The more data we have, the more data-driven decisions we can make.
It allows us to have more control over our businesses and the decisions we make in regards to it, more than ever.
One of the most important things that we can do is encourage our ears to listen for value and find data driven tangible results.
In Real Estate we build our businesses by being outgoing and networking with others, but we expand our businesses into actual efficient, productive, profitable models based on data, strategies and results.
If we look more at what's working and what’s making a difference, and put that on our stages, instead of what’s political and who’s your friend, I think we’ll be able to encourage a lot more women into sharing their leadership.
We bring a systematic, process driven approach which allows us to be more agile and to lean into technology changes, instead of fearing them.
Have a Strategy
We need to have clarity on our key sources of business, how we can become more efficient, and cut through to the best use of our time and our investments, while focusing on our skillset.
During a tough market is when our skills will be forged in the fire. You will find that you’ll have people who accelerate and are much stronger in sales or service during a turbulent market because we have less opportunities and are more open to sharpening the axe.
The best leaders are not scared to set clear and straightforward expectations, even in difficult situations. They know their team is stronger when everyone is on board, and they’re not willing to have a weaker link take them out.
Have a Clear but Adaptable Vision
Know where you’re going, but allow yourself to be agile and update your plan as needed. Always let your team know in advance.
People are pivoting fast, using their adaptability skills. If you sit around and wait for change, you’re losing the momentum you can build now, and you won’t be prepared for the potential market change once this is all over.
We all have the ability to change and develop right now.
We have these hubs of powerful teams that have resources, leverage and the ability to be agile and make very quick changes that are positive to the industry.
They make these changes without facing the same bureaucracy or old school leadership that some brokerage models still face, which have really caused them, in some areas, to become redundant.
Our ability to move from a sales mentality to an advocate/consultant professional mentality in teams and those in face-to-face selling has never been so important.
If we can shift the basis of our business, we shift the way that we think and how we operate as people, and to me that’s an extremely exciting opportunity right now to carve out positive change in the world. I believe our network is doing that and that the Top 1% of Real Estate are a new wave of entrepreneurs creating a technological and sustainable business model. They’re coming with an abundance mentality to change our industry for the better.
Work with What’s Working
With our model, if you’re building a team with us, an average competing brokerage will have to sell 1,500 homes while you’ll only have to sell 114 for the exact same cash flow to come in, after the agent portion is made.
As opposed to people taught with methods that are not working, but were working with lesser models. The Real Estate market used to be a one level market, it was between the brokers or agent and the buyers or sellers. The complexity of the current Real Estate market is far more complex than it used to be.
We’re still approaching this business with a one dimensional mentality that is not serving us and doesn’t make sense because it’s irrelevant.
SOURCE: Kathleen Black, KBCC