I like to start every year getting back to the basics and remembering the little things that will help me and my agents find success. Over the years of managing a team of agents I've found a handful of axioms which are easy to remember that keep me on track and help to answer three questions which are always on my mind: How can I keep my agents motivated to go the extra mile? How can I keep my top agents happy and growing as professionals? And how can I consistently improve communication and create value for my clients? Here is a short list of sayings that are at the front of my mind to start the year. Maybe they will strike a chord and you can get some value out of them throughout the year.
"He who travels much, knows much." Every real estate firm and its brokers understands the importance of understanding the nuances of their market. However, in the hustle and bustle of everyday deal making, professionals often forget to take a step back and see how things are evolving around them.
Canvassing and walking the streets is important for all brokers to feel the changes coming down the line for particular neighborhoods and even on a block by block basis. This is particularly important for retail brokers but office brokers and residential brokers should be in the habit of spending time in neighborhoods outside their normal stomping ground as well to broaden their horizons.
Office brokers and residential brokers should also visit as many spaces as possible to gain first hand knowledge of the current inventory and competing product so they can speak to their clients with an understanding that others may lack. They can also pre-screen availabilities for their clients, providing added value. Real estate professionals often feel they are at their most productive in their office, completing the tasks at hand, but they should never forget that the city is constantly changing, and they need to see it with their own eyes.
"Find what you love, and love what you've found." Every real estate firm spends considerable amount of time and money recruiting, training, and supporting their brokers and agents. Through the process they are looking to secure the hungriest professionals in the hope that all of them will find success and elevate their brand.
However, turnover rates are consistently high in this business and agents jump to different firms quite often. For brokers and agents it is paramount that they are at a firm that gives them the best chance to succeed, and many times the grass always looks greener at another firm. Brokerages need to focus on not just on finding those with a talent for the business, but on retaining that talent to ensure continuity in growing their company. Better compensation splits, larger advertising budgets, and support staff is a start, but principals need to make sure their goals are aligned with their brokers to ensure their business grows together.
"A picture is worth a thousand words." Although I believe nothing replaces walking the street and visiting available product, the reality is the search for the next home for someone's family or business starts at a computer screen.
To brokers screening space, active buyers looking for their next home, or commercial tenants looking for a place to grow their business high quality pictures of availabilities is the first impression they get, and its one that can determine whether or not you get a call to show the space.
High quality photos that make your space or home look as attractive as possible to active buyers or potential tenants is a simple step that can't be overlooked. On Agorafy we require that all of the listings published on our site have pictures, and we consistently encourage brokers to submit HQ photos that will help their exclusives stand out among competing space.
"The shortest distance between two points is a straight line." For real estate professionals its always important to manage their clients expectations, however it is equally important to communicate as clearly and directing as possible. Equating or sugar coating your feedback only does a disservice to your client or other professionals and leads to confusion and wasted time.
Most clients are best served by and want direct answers to their questions; in turn they should not tolerance excuses. How many potential buyers or tenants have viewed the space? How many offers do we have on the table? Have they accepted our terms and we can go to escrow?
Your client's will see the difference between motion and action in the results. Leading up to that it's best to keep the lines of communication open and direct, so both you and your client can change strategy and move in another direction if necessary.
"If you want, you can win. If you win, you can want." All agents should have this kind of mentality; they have to focus, outwork their competitors, and want success badly. They will need to sacrifice their time, energy, and resources to achieve their goals. Once they are of the mindset that their success is up to them and them alone, it will free their mind of excuses and blame. Crystallizing exactly what needs to be done to get results and hold themselves accountable.
To me, constantly reminding myself that success is a choice is the most important thing I can do. It keeps me focused on the big picture and not the day to day ups and downs of the business.
Richard Du is the founder and CEO of Agorafy, New York, N.Y.


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