Powered with LOVE Volume 7

VOLUME 7

06/2022

SHOULD YOU

WHAT SHOULD I OUTSOURCE?

STAY IN BUSINESS INSIDE THE MIND

OF A TOP PERFORMER ‘THE WAY TO GET STARTED IS TO QUIT TALKING AND BEGIN DOING’ -Walt Disney Powered with LOVE Stephen Cromarty

CONTENTS. 1. WORST PERFORMER COULD BE YOUR BEST TEAM MEMBER 1 2. INSIDE THE MIND OF A TOP PERFORMER 2 3. SHOULD YOU STAY IN BUSINESS? 3 4. WHAT TO ASK IN AN INTERVIEW 3 5. HOW CAN YOU IMPROVE YOUR TEAM MEMBERS LEVEL OF ENGAGEMENT? 4 6. WHEN SHOULD A BUSINESS CONTRACT? 5 7. WHAT SHOULD I OUTSOURCE? 6 8. CHANGE THE WAY YOU COMMUNICATE AND YOUR MARKET WILL CHANGE! 6

WORST PERFORMER COULD

BE YOUR BEST TEAM MEMBER WHAT IF YOUR BEST TEAM MEMBER IS ALREADY IN YOUR BUSINESS? What if the person you were looking for was already on your pay roll, and possibly even on your radar to either put in a performance review, or even worse still, let go! So, what can we do to identify if your best team member is right in front of us?

Believe it or not, it’s as simple as first of all meet with your team members who are struggling and asking: 1. What can we do to assist you in your current role?

2. What do you like about your position?

3. What don’t you like about your current position?

4. If you could choose between a development plan for your current role or be considered for a different role, what would you do?

Because intentional leadership involves understanding the outcome we want prior to doing anything. We would have already asked other team members number 4, about the team member, and have a predetermined outcome planned.

THOUGHT...

Why don’t you start by listing who the under-performers are, and then identify a path forward to make these people your best team members, sometimes the exponential growth we are looking as business owners is in places we never imagine.

1

INSIDE THE MIND OF

A TOP PERFORMER

EVERYONE IS LOOKING FOR A TOP PERFORMING AGENT, A TOP PERFORMING BDM (OR EVEN A TOP PERFORMING PROPERTY MANAGER).

Those are they key people in a Real Estate business. But have we ever got inside the mind of a Top Performer to identify how they think? And/or do we get our top performers to meet prospective candidates?

WHAT ARE THE CHARACTERISTICS OF A TOP PERFORMER? 1. They focus on solutions 2. They have goals 3. They do the tough stuff 4. They start early / work late 5. They self educate, are eager learners 6. They strive for betterment 7. They are typically (in sales) terrible with detail 8. They LOVE the big picture, big picture talkers 9. They leave limited leaders / they need to be inspired/ have something to aspire to 10. They are hungry for growth, and crave the ability to contribute, yet thrive on autonomy This list was put together after interviewing agents earning over $500,000 personal income.

We interviewed Liam McAlister and our senior property manager, Nicole Ansell to get inside their minds. So now what, in your interview process have a list of questions, filters which flush out these characteristics, and remember, like attracts like!

In your interview process, ensure the people you’re allocating somehow make contact with your top performers. This can be done with a video of your team members introducing themselves, or with these people being shadowed and / or added to the panel of interviews!

2

SHOULD YOU STAY

IN BUSINESS?

IF YOU ARE NOT FOCUSED ON GROWTH, THE TIME TO SELL IS NOW! With private equity money available, the back end of a strong real estate market, real estate business are being valued at an all time high. Alternatively if you are looking to grow your business, now is also a great time to commence your own prospecting strategy (rent roll) to purchase the most equitable of any real estate business. Start with the agencies whose volume of sales have dropped by 50% or more, you may be surprised how eager they will be to hear from you!

WHAT TO ASK

IN AN INTERVIEW The interview process can be the real hit and miss affair. We require intervention as well as an understanding as to what skill sets we are looking for! The problem with intuition is it is not consistent, it changes with how you are, how are you feeling, so therefore, if you rely on this alone, it’s a bit like playing chicken. You must be clear on defining who you are and who you are not, and then lastly, have a way of identifying the necessary skills.

1.

2.

3.

4.

5.

6.

7.

Define who you are, then have the candidate explain how they relate, ask for examples.

How do your current skills transfer to the position you have applied for?

What do you believe are the most important skills sets required to perform the role?

Have you moved in an environment you didn’t like so much? What didn’t you like?

Explain an environment you worked in that you did like. What did you like about it?

Why wouldn’t you employ you?

Why would you employ you?

These questions tell us who they are culturally, what skills they believe are their best skills, what skills they think are required, and if they have the ability to sell themselves and somewhat, are willing to fight for the position.

3

HOW CAN YOU IMPROVE YOUR TEAM

MEMBERS LEVEL OF ENGAGEMENT?

THE GOAL OF ANY EMPLOYERS SHOULD BE TO HAVE YOUR TEAM MEMBERS RUSH TO WORK, AND BE SLOW TO GO HOME, YOU WANT THEM TO LOVE WHERE THEY WORK. SO HOW DO YOU ACHIEVE THIS? What I suggest you do is throw out all the rule books and start with asking your people!

Think about this, people want to be part of something. They want to contribute! Here is the plan that will have your team members more engaged, more committed, which will mean less turnover, higher customer service standards and higher profit.

1.

2.

3.

4.

Ask what they don’t like about working in your company?

Ask why people join us?

Why people leave us?

And last of all, what they believe needs to change?

Create and build your culture and environmental changes around these 4 questions.

However, there is a “HUGE” disclaimer! Do not embark on this journey if you are not serious about change.

FACT: THEY ARE LEAVING YOU EVENTUALLY ANYWAY, BUT WILL LEAVE YOU MUCH QUICKER IF THEY DO NOT SEE CHANGE! LASTLY LISTEN / READ “START WITH WHY” BY SIMON SINEK, THIS A MUST, DO THIS AND THEN YOU ARE READY FOR YOUR CULTURAL TRANSFORMATION!

4

WHEN SHOULD A

BUSINESS CONTRACT?

THE CORRECT ANSWER IS, A BUSINESS SHOULD ONLY CONTRACT TO EXPAND! A few articles ago we wrote on how to increase the overall profit and performance of your business, we have spoken about planning meetings, company meetings, and staff engagement.

The question is, if your team members were interviewed and asked, is this business: 1. Expanding 2. Plateauing 3. Going backwards How would they answer this question? The answer to this question will identify the psychology of your people and the EFFECTIVENESS OF YOUR PLAN! What’s left to do now, is to get started on your expansion plan should your team members answer with 2 or 3.

Hopefully there is an “AHA” MOMENT here, because what we have identified, the strength of your plan is nowhere near as important as the mindset of your team, because in reality it is they who are determining which way your business is heading and it is you who is determining their level of psychology.

5

WHAT SHOULD I

OUTSOURCE? ANSWER; NEVER ANYTHING WHICH DIRECTLY AFFECTS THE LEVEL OF CUSTOMER SATISFACTION. Think about the issues with team members, and then think about having that responsibility off shore!

There is a place for outsourcing and it’s connected to things which do not have direct customer contact, require a low skill set, and are repetitive tasks which detract from our team members being face to face, and or dollar productive.

6

CHANGE THE WAY YOU COMMUNICATE

AND YOUR MARKET WILL CHANGE! IF WE STOP FOCUSING ON THE FACT THE MARKET HAS CHANGED AND START FOCUSING ON HOW WE HAVE TO CHANGE WHAT AND HOW WE ARE COMMUNICATING. We will then see business return back to normal, possibly even much higher levels.

All that has typically happened is short cuts are no longer going unpunished in this market place, essentially, it’s getting back to basics. What are the basics you ask? Well, it’s daily calls to buyers, weekly feedback meetings, buyer education on how to buy, use data to override our clients emotions, or their belief in the fact the old market still exists. It’s creating a process to handle this changes THAT FORCES YOURSELF AND YOUR AGENTS TO COMMUNICATE DIFFERENTLY! I have prepared and built a new Listing folder / buyer board and other documentation, keep an eye out for the next webinar where I will be presenting these documents.

“COMMUNICATION MUST BE HOT. THAT’S HONEST, OPEN, AND TWO-WAY” - DAN OSWALD