This week I changed my real estate brokerage affiliation from a franchise and am now an independent. I’ve done a lot of soul searching about which path to take, and suffice it to say that at the end of the day, I see more value in my own name and my brand, than any franchise. Perhaps I should have gone down this path from the start, when I opened up, but that’s water under the bridge.
In cleaning out some files, I found a business card folder from the summer of 2007, when I attended franchise training and also a broker-owner conference. I was on a high, ready to set the would on fire, and collected a number of business cards from other broker-owners that summer. When I flipped through the cards, I had the brainstorm that I’d see how many were still in business, almost five years later. How many were still with the franchise, how many closed up shop, and how many switched affiliations? The answers may or may not surprise you.
What has become of other franchisees?
I had 25 cards in my file. That’s not a huge sample, but I think we can still see some trends from my random collection of cards. I googled every name to see if I could track them down.
The people to the immediate right and left of me were at franchise training were still in business, but had dropped the franchise and gone independent.
Four of the names in my book showed up nothing in google searches. I assume they had dropped out of the business completely. I know that one of them was out of business within 6 months (I had heard that right away, as it spread through our grapevine) so I knew I wouldn’t find him.
Five of the brokers in my pile of cards were still with the franchise. I noticed that three of those five were longer term brokers, whose cards I had picked up not at franchise training but at the conference.
Four had switched from one franchise to another (most notably, Keller Williams gained the most convertees, which confirms NAR statistics published each year about franchise growth).
The trend to go independent
But the biggest trend was in dropping the franchise to go independent. Fully 12 of the names in my stack pulled up in searches at independent offices not affiliated with a national name.
I’ve read numerous articles about the value of the brand, the value of being affiliated with a major national (or international) company. I’ve worked for a franchise office, I’ve owned a different franchise office, and after 11 years in this business, I just don’t see the need to push a corporate logo over my own brand.
You, the agent, either sell the buyer/seller client on you and your services, or not. There are great offices with Brand A or B or C and there are ones down the road that, to be honest here, suck. It’s not the logo the client buys into, it’s you the agent or you the broker. It’s Brand “Agent”.
At the end of the day the client only wants his problem solved: find me a house or sell my house. The logo on that sign should not matter more than the agent who puts the sign in the ground. Exceptional communication skills, solid knowledge of the market, and top notch marketing matter more than that logo.
A personal business decision
To argue the franchise side, they’ll say that they provide systems, tools and support to help the broker succeed. That is true, and if it were not then no franchise would succeed. The question is are you using those tools or not? Is the support really there that you need? Do you want or need their systems or do you have your own in place?
I am not sorry I affiliated with a franchise five years ago. I consider the price I paid to be my MBA in real estate brokerage. Affiliating gave me the courage to go out on my own, and in the beginning, I did take advantage of programs and tools to help me get running. But as time went on, I realized that my own office was morphing more into “my office” and I did not need the franchise support.
I would surmise many of the brokers who de-franchised in the past few years did it because of the money factor — to save money. That’s part of my decision as well. I run a lean operation and see how being independent will benefit our office with less fees for agents to pay, freeing up marketing dollars.
I listened in on a seminar the other day and the speaker said 50% of all new agents drop out within the first year, and 75% within two years. I’m happy to see that new franchisees failing are not at the 50% level, but the numbers above are sobering. I would say owners of franchises should be paying attention to the trends to un-affiliate.
How strong leaders use times of crises to improve their company’s future
(EDITORIAL) We’re months into the COVID-19 crisis, and some leaders are still fumbling through it, while others are quietly safeguarding their company’s future.
Anthony J. Algmin is the Founder and CEO of Algmin Data Leadership, a company helping business and technology leaders transform their future with data, and author of a new book on data leadership. We asked for his insights on how a strong leader can see their teams, their companies, their people through this global pandemic (and other crises in the future). The following are his own words:
Managers sometimes forget that the people we lead have lives outside of the office. This is true always, but is amplified when a crisis like COVID-19 occurs. We need to remember that our job is to serve our teams, to help them be as aligned and productive as possible in the short and long terms.
Crises are exactly when we need to think about what they might be going through, and realize that the partnership we have with our employees is more than a transaction. If we’ve ever asked our people to make sacrifices, like working over a weekend without extra pay, we should be thinking first about how we can support them through the tough times. When we do right by people when they really need it, they will run through walls again for our organizations when things return to normal.
Let them know it’s okay to breathe and talk about it. In a situation like COVID-19 where everything is disrupted and people are now adjusting to things like working from home, it is naturally going to be difficult and frustrating.
The best advice is to encourage people to turn off the TV and stop frequently checking the news websites. As fast as news is happening, it will not make a difference in what we can control ourselves. Right now most of us know what our day will look like, and nothing that comes out in the news is going to materially change it. If we avoid the noisy inputs, we’ll be much better able to focus and get our brains to stop spinning on things we can’t control.
And this may be the only time I would advocate for more meetings. If you don’t have at least a daily standup with your team, you should. And encourage everyone to have a video-enabled setup if at all possible. We may not be able to be in the same room, but the sense of engagement with video is much greater than audio-only calls.
We also risk spiraling if we think too much about how our companies are struggling, or if our teams cannot achieve what our organizations need to be successful. It’s like the difference in sports between practice and the big game. Normal times are when we game plan, we strategize, and work on our fundamentals. Crises are the time to focus and leave it all on the field.
That said, do not fail to observe and note what works well and where you struggle. If you had problems with data quality or inefficient processes before the crisis, you are not fixing them now. Pull out the duct tape and find a way through it. But later, when the crisis subsides, learn from the experience and get better for next time.
Find a hobby. Anything you can do to clear your head and separate work from the other considerations in your life. We may feel like the weight of the world is on our shoulders, and without a pressure release we will not be able to sustain this level of stress and remain as productive as our teams, businesses, and families need us.
20 bullsh*t buzzwords that should be banned from tech forever
(OPINION) As the language of tech ebbs and flows, there are linguistic potholes so over-used, so annoying, they make you want to scream. Here’s 20 of the worst offenders.
There’s specific lingo in any industry. Buzzwords, if you will. Get a group of friends who work together for beers after clocking out, and chances are you’ll get lost quickly once they start trading war stories – outsiders beware.
But, there’s one community who puts even nurses (marry a nurse, and you’ll learn what prophylaxis means) to shame with insider speak and bullshit buzzwords: the tech community.
Tech folks are like business and marketing people but mutated. There’s so much free-flowing jargon that goes unchecked and evolves a la Origin of The Species within days. The words and phrases become gospel and, before you know it, people are sharing these nonsense phrases that become the industry norm, leaving anyone on the outside scratching their heads, trying to decipher the tech code.
But, as the language of tech ebbs and flows, there are linguistic potholes so over-used, so annoying, they make you want to scream. There are words used so out of context that make you want to turn them into a snarky meme and pass it around the office because you’re a jerk like that. (Well, I’m at least a jerk like that.)
These are some of those words.
The words that need to die a horrible, 24 hour, “what does it all mean” death.
Words that should be locked away in a prison so vile Charles Manson would be like, “Nah, bro. I’m good.”Please don’t use these words in your marketing, pitch meetings, or just ever. They suck.Click To Tweet
Strap in and lock it down, here we go:
Can’t we just say “everyone knows what’s going on” instead of sync? This is one of those metaphors alluding to tech as melded with the products and culture, serving as interchangeable. We’re people, not iPhones to be plugged into our laptops. We don’t need to sync. We can meet up.
Robust is coffee, a strong tea you imported from India. It’s not a tech software experience. A can of Folgers can claim to be robust, your project tool cannot share this claim.
3. Pain point
Are we still using this one? A pain point is an elbow that’s got an owie, not what a customer thinks sucks.
I’m delighted to eat an excellent meal or get an unexpected call from an old friend. I’m delighted to leave work early to have drinks. I’m not delighted to use enterprise software. Sure, it makes my day easier. Does it offer a view of heaven when I can use self-service? I think not.
One of the godzillas of Jargon Mountain. I get that this worked in context a few years ago. But, now? You’re not “the Uber of…” and you’re not “disrupting” anything.
You built a parking app, Pat. You didn’t change the world.
If you dethrone Facebook, you’ve disrupted the world. ‘Til then, keep your pants on. Your algorithm for the best pizza place in town ain’t changing the block, let alone the face of communication.
6. Game changer & Change agent
Does anyone buy into this one? Was the game changed? This goes in the bin with “Disrupt.”
7. Bleeding Edge
Some jerk in some office decided “the cutting edge” wasn’t enough. It wasn’t hyper progressive enough, so they labeled their work the “bleeding edge”.
If this phrase were any more douchey, it would have a neck beard and a fedora and argue the tenants of socialism on IRC with strangers while sipping Mountain Dew.
8. Dog food
Who came up with this? When did a beta test get labeled as “dog food” I’m still lost on how this one became the industry standard. “We’re eating our own dog food.” This doesn’t even make a lick of sense, people. Just say we’re testing something. It’s a lot easier.
What happened to just saying you agree? I thought alignment was for tires, not for working. I’ll give you parallel, but alignment? Not buying it.
Pivot is just a fancy, non-finger point-y way of saying change. And typically, that change is reacting to something not going the company’s way. “Pivoting” means reacting to bad news or undesired outcome and making everyone involved feel smarter about the process.
Unless you’ve built software that cures cancer, does something better than Elon Musk, or gets you laid faster than Tinder, you’re not revolutionary. You’re an element of evolution in a steadily progressing world.
12. Internet of Things
I still don’t even know what the hell this means. Really. It’s one of those phrases people use and pretend to know but really don’t.
I thought bandwidth was Internet stuff, not how busy you are at work. Can’t we say, “if you’re not too busy,” instead of, “if you have the bandwidth,”..?? These are people, not routers.
14. Low-hanging fruit
You mean the easy work? “Easy win” even applies here. But the whole gardening metaphor is tired. It’s ok to say, “Do the easy work first” in a meeting. Hiding behind a metaphorical phrase doesn’t make the work any less important.
Do we need to break everything down into words to make the process more complicated? Aren’t deliverables, just work? It’s an adjective to describe what work you’re completing… so… it’s just work. Throw in a “key, ” and you’re jargon-y as all get out.
16. Circle Back
Translation: I don’t want to continue talking about this right now, so I’m going to schedule more pointless meetings to discuss this thing I don’t understand and don’t want to talk about in a few days. Likely, scheduled on your lunch break.
17. Action item
What happened to the good ole’ “to do List”? Instead, we’ve got “action item”. You come out of a meeting with a sore ass. The boss pounds on your for the stuff you need to do. You’re up to your ears in homework, yet, it’s not work you need to do – it’s “action items, to be delivered upon.” WHAT THE HELL DOES THIS EVEN MEAN?
18. Take it offline
If there was ever painful corporate-speak, this one is a granddaddy. Instead of burning minutes in a meeting, someone will announce, “let’s take it offline.” Always happens. What about, “let’s talk about this face to face,” or “I’ll swing by your desk”, or “let’s figure this out.”
We appreciate you not annoying the rest of us with your A+B problem, but we’re not all living in the matrix. Or, at least we think we’re not.
Committing to something – a culture, an idea, a feeling. We’re equating life to a poker game and expecting everyone to get the idea, too. So lame.
20. Rockstar – Ninja – Wizard – whatever descriptive verb
This one. Holy horse crap. Can we PLEASE STOP with trying to slap a descriptive label on good work? I get it. You want to exclaim your person is a badass, and they’ve got chops. But this labeling of people in fantastical ways just sucks. When did the craft of a ninja, or the fantastical abilities of a wizard relate to code? And the rockstar thing?
Dudes, you’re not Keith Richards, you wear a startup hoodie and complain when you’re not getting free lunch at work.
Also, these names suck because they imply some male-dominance-cum-brogrammer mentality. They’re shadowy ciphers that are such machismo, it’ll barf up a steak. When a woman gets labeled a “ninja” it’s in an entirely different context, and that’s not cool. Writers have to get creative and use terms like “acrobat” or “juggler” to give off a sentiment of equal playing field, and it’s obnoxious. Just stop with these lame titles.
And there you have it. 20 bullshit buzzwords that should be banned forever and ever. Comment away, and add the jargon you loathe in the comments section. If it goes well, maybe they’ll ask me to write a part two, and we’ll make even more people mad.
This editorial was first published here in 2017.
Study says women need to be seen as “warm” to be considered confident
(EDITORIAL) A new study reveals that despite progress, women are still successful when they fall into a stereotype. Let’s discuss.
About 15 years ago, I took a part-time job in a mental health clinic handling bookkeeping and billing. I had absolutely no idea what I was doing, but I attacked the job with what I felt was confidence. For the first few days, I simply felt as if I was an imposter. I kept asking questions and pushing forward, even though I didn’t make much progress. Within just a few days, I felt the hostility of the office manager.
It got progressively worse, and I couldn’t figure out what the heck I’d done to make her so confrontational with me. I thought I was pleasant and respectful of her position, and I was getting along with the other employees. When I talked to our boss, I was told that I intimidated the office manager. HUH? Me? Intimidating? I was a complete mess at the time. I could barely put together a business casual wardrobe. My emotional health was so fragile that I rarely went anywhere new. And she found me intimidating?
Researchers have been studying how people judge others. Susan Fiske, researcher out of Princeton, found that competence and warmth are two of the dimensions used to judge others. Based on that research, Laura Guillén, Margarita Mayo, and Natalia Karelaia studied the competence and warmth at a software company with 236 engineers. Guillén and her team collected data at two separate times about these engineers and their confidence and influence within the organization.
They found that “men are seen as confident if they are seen as competent, but women are seen as confident only if they come across as both competent and warm.
Women must be seen as warm in order to capitalize on their competence and be seen as confident and influential at work; competent men are seen as confident and influential whether they are warm or not.”
We encourage women to be confident, but based on current research, it may not be enough to close the gender gap in the workplace. A woman must be seen as helpful and dedicated to others to have the same influence as a man. As a woman, it’s easy to be seen as the #bossbitch when you have to make tough decisions. Those same decisions, when made by a man might be considered just “business as normal.”
I guess the lesson is that women still have to work twice as hard as men just to be seen as equals. I know that I have to work on empathy when I’m in an office environment. That office manager isn’t the only person who has thought I’m intimidating. I’ve heard it from it others, but you know what? As a self-employed writer, I’d rather be seen as undeterred and daunting than submissive and meek.
This editorial first appeared here in 2016.
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