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Op/Ed

The 10 skills every successful real estate pro shares

(EDITORIAL) It isn’t slick business cards that make a real estate pro successful, it’s a constant striving for improvement. Here are the 10 skills the most successful among us share.

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“Success is not final, failure is not fatal: it is the courage to continue that counts.” -Winston Churchill

Churchill’s quote may be shared with lame inspirational imagery on Facebook in an effort to make people think the poster is an inspiration, but his words are timeless and a universal truth. People enter the real estate profession with big dreams and expectations and are often met with the brutal reality that it is a lot of grunt work.

Once in the industry, what separates the successful from the failures? There are 10 skills every successful Realtor shares, no matter their expertise:

1. Education level

Successful real estate pros continually educate themselves, and not just in the “I have 6 hours of legal updates to take before I renew” way, but through webinars, earning designations and certifications to refine expertise, continuing education, and so forth.

Resting on laurels is never an option for successful pros, because they’re constantly seeking the competitive advantage. Further, they are educated enough to educate people around them, be they consumers or fellow agents – the skill to effectively convey a message is a sure sign of being educated.

2. Negotiation skills

Those at the top of the food chain can negotiate well, and we’re not talking about haggling at a rug bazaar, we’re talking skillfully navigating the transaction from start to finish, knowing the laws and processes so well that they aren’t just worried about their bottom line, they’re taking their fiduciary relationships with clients ultra seriously.

It’s not about being cutthroat, it’s about being extremely knowledgeable and being able to get the best deal possible (and convey that to) a client, who in turn refers to them because of their wicked value proposition.

3. Communication skills

Real estate agents are famous for not calling anyone back. It’s true, let’s be real. But those at the top not only have the systems in place to handle calls when they’re unavailable or funnel leads through the most effective pipelines, they treat their clients like gold. Which means communicating at every phase of the transaction. No one at the top lands a client then just shows up at the closing table, it just doesn’t work that way.

Emails are routed properly, social media connections are groomed effectively, and systems are in place to deal with incoming communications. Further, they are able to communicate complex legal terms simply and concisely to clients, and they make the process look easy. They’re very hands on.

4. Tech-savviness

The most successful in the industry aren’t necessarily programmers, but they’ve vetted the endless systems they have working well together to get consumers from point A to point Z effortlessly. Many are left behind, duct taping together old crappy technologies, while the successful agents tend to be ahead of the curve and are thirsty to always improve (see #1). This doesn’t mean they’re Twitter experts and want to come talk to your office about the benefits of tweeting, it means their site won’t look like it was half-assedly built in 1999, they aren’t using outdated tools, they’re pushing technologists to serve them so they can better serve their clients.

5. Marketing skills

If you ask someone that is successful about their toolbox and methods, you’ll be in for an hours-long conversation. Marketing is second only to negotiation skills when it comes to a Realtor’s value proposition, so they don’t just slap up a flyer in a yard, they have endless digital analytics in place, they (and/or their team) follow up on every single opportunity not only for leads but feedback. They tweak. Then they tweak again. And again. And again. Marketing skills isn’t just knowing what a modern logo looks like, but what a good ROI is on a specific type of ad, which listings require a re-shoot, expertise on a farm area like school ratings, and so forth. It’s a science and an art that separate the successful from the others. By miles.

6. Problem solving

The most successful in the industry are creative and think well on their feet. When problems arise, they can confidently offer an immediate and effective solution, which requires experience and education (which yields refined judgment). If a sale is falling through because the buyer wants the hot tub to convey, but the seller plans to take it with them, they know when to let go of the damn hot tub and when to hold on, as well as what to offer each party to create a win-win.

This also applies to knowing when they’ve expanded too quickly or too slowly and need to add team members and navigate those waters of operating a business to scale.

7. Team building

Speaking of teams, there is more team building to a successful agent’s tale, no, it takes a village – relationships with all types of vendors they can call in a pinch, title professionals that are effective, photographers that are skilled, and so forth.

The most successful in the industry are networkers with a purpose that have refined their pitch (and they know “I help people buy and sell homes” is forgettable, but “I specialize in luxury properties on the north shore” yields more referrals), and know that their team expands far beyond their four office walls.

8. Leadership

Successful real estate pros are typically quality leaders. They know how to motivate every actor in a transaction, motivate their team, and get everyone to work toward a common goal. To be honest, these qualities are often natural when you combined the aforementioned skills.

9. Risk takers

Most people don’t think of Realtors as risk takers, but inherent to success is a refusal to settle. Even if there is a market area dominated by a successful Realtor, they know that the pipeline always has room to grow. They’re the first to try new technologies to speed up a transaction or better serve a consumer, they’re the first to add or subtract an offering to refine their methods, they’re willing to try out new agents that show promise.

They also know how to balance risk for the sake of success versus risk for the sake of taking risk. In real estate the “fail faster” mentality of Silicon Valley tech doesn’t make for a successful veteran agent or brokerage.

10. Advocacy

What most outsiders don’t know is that most successful Realtors are advocates for homeowners and homeownership, often involved at the local, state, or national level with volunteer efforts. They serve on committees, they communicate the importance of homeowners’ rights to politicians, they volunteer at places like Habitat for Humanity and are typically deeply involved in a non-superficial way in their community.

The takeaway

Real estate is a profession that anyone can enter if they can pass a basic test, but the most successful are those that know resting on laurels and refuse to stop growing, stop pushing, stop educating themselves and others, and they refuse to stop advocating. That’s what makes the industry so wonderful, and why we will always advocate for those in the trenches.

#REsuccess

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Lani is the Chief Operating Officer at The Real Daily and sister news outlet, The American Genius, and has been named in the Inman 100 Most Influential Real Estate Leaders several times, co-authored a book, co-founded BASHH and Austin Digital Jobs, and is a seasoned business writer and editorialist with a penchant for the irreverent.

Op/Ed

A hugely dangerous challenge of the Internet of Things

(EDITORIAL) The Internet of Things is here, with all manner of soft AI voices and shiny Bluetooth bits. But how long can we count on it staying?

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So, robot apocalypse. The Internet of Things machines have their cold metal fingers all up in our data, our houses, our sand dunes and/or porn.

And for what? What do they offer in exchange for this unprecedented invasion of our day to day lives?

Seamless, user-friendly automation to help with a thousand daily tasks, demonstrably improving our quality of life.

That’s… that’s actually a pretty good offer! Nice work, robots.

It comes with catches, and we’ve covered those, but Day One bumps and blunders are part of owning tech. They generally get engineered out.

What I want to talk about is Day 100, or 1000. Because the important word in “Internet of Things” isn’t “Internet.” We have the Internet. We can confidently expect the Internet to continue being a big deal.

But “things” is an important word. Things are distinct from tech. With tech, buying the thing and futzing with the thing are part of the fun, especially for practicing nerds like your narrator. Tech is new, and the excitement of a new game or a new phone can take the edge off, say, a server crash or a quick trip to tech support and back.

What about things? No early adopter aura in history will get a customer to ignore a fridge full of rotten food. Fridges need to work, period. So does your thermostat and your car. All those things are charter candidates for the full IoT overhaul, and they’re all capital T Things, not tech. They aren’t shiny toys people can live without for a week or four. They’re expected parts of daily life, things that need to work on Day 1, 100, and 1000.

Are companies preparing for that? Are the startups rising out of the blue-light-white-plastic Stuff Renaissance prepared to rebrand as global service providers, doing the hard, unglamorous, absolutely necessary work of digital maintenance?

Bigger question: are they prepared to guarantee security while they do so? Because anything with digitized bits needs patches and updates to function, and if it can download patches and updates, it can download things that are not patches and updates. No one wants to chase a botnet out of their microwave. Are the companies invested in always-on Things standing up and saying they’ll take responsibility for indefinitely securing and maintaining the infrastructure they intend to profit from?

Short answer, no. They’re not. Operations departments tend to be vanishingly small, painfully understaffed, spectacularly underpaid. Let’s be real,: we don’t prioritize stuff like that. We’re talking the digital equivalent of the guy who chases the raccoons out of your HVAC, and that sounds entirely too much like work.

Maintenance is not sexy.

But it’s absolutely necessary. It’s generally just the beginning of a thing. It gets the wheel rolling, and that’s not to be undersold.

But the IoT wheel is most definitely rolling. The issue is keeping it in motion, making it a wifi-level universal usage standard, not a 3DTV fad.

That won’t get done in a meeting. That gets done through long term adoption, and long term adoption will be about attracting, training, and retaining people willing to do the hard work of maintenance and customer support.

The Internet of Things wants to be a major step forward in the infrastructure of daily life. I am incredibly in favor of that. But daily life works because it’s the full time job of a whole lot of people to make sure it does so. So to Internet of Things companies, I say – pay them, treat them well, make your organization the best place in the industry for them, or be left behind by the people who do.

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Op/Ed

The texting sin to never commit with your clients, period

(EDITORIAL) Clear communication with clients is important (and that’s an understatement). This study found one error that separated the sincere text from the insincere.

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I have enough issues making myself understood when I speak with someone face-to-face. Now I need to pay attention to how I text so as not to be misconstrued.

According to the latest findings from Celia Klin, associate professor of psychology and associate dean at Binghamton University’s Harpur College, the mere use of a period (.) can make a person seem less sincere compared to say, using an exclamation point (!), which, by the way, ranks higher on the sincerity meter.

The study, led by Celia Klin of Binghamton University, and published in Computers in Human Behavior, suggests ending your text messages with a period makes them seem less sincere to the receiver.

Participants in the study read short exchanges with responses that either did or did not contain messages that ended with a period.

When the messages were in text message form, as opposed to handwritten notes, the messages that ended with a period were generally rated as being less sincere than messages that didn’t end in a period.

Klin points out that “Texting is lacking many of the social cues used in actual face-to-face conversations. When speaking, people easily convey social and emotional information with eye gaze, facial expressions, tone of voice, pauses, and so on.”

Instead, adds Professor Klin, people who text rely on what they have available to them: “…emoticons, deliberate misspellings that mimic speech sounds and punctuation.”

I’m not sure what the alternative to texting is. Lifehacker.com recently published its findings of what it feels are the five best alternative texting apps. But at the end of the day (or end of the sentence in this case) you are still texting and thus still setting yourself up for the dreaded improper use of a period (.)

That said, Lifehacker’s survey revealed that WhatsApp leads the pack. WhatsApp is a cross-platform messaging system that supports Android, iOS, Windows Phone, and Blackberry devices. WhatsApp is popular because the service is backed by hundreds of millions of active users, and allows you to send text, photo, and voice/video messages to individuals and groups for free using mobile data or Wi-Fi. And there’s not a Period (.) in sight. You can see the rest of the top five contenders by clicking here.

In terms of expressing myself, the use of emoticons works perfectly for me. Trouble is, within a professional context the cartoon-like emoticon looks out of place. That’s OK. It’s the next best thing to speaking in person (which I’d rather do anyway) and it sure beats worrying about period (.) misuse.

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Op/Ed

Why you should lose the sweat pants if you work from home

(EDITORIAL) While it’s tempting to cozy up and work in your most comfortable sweatpants or yoga pants, there are a number of reasons that dressing up to go to work can help increase work from home productivity.

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There are many often discussed benefits to working from home. If you’re not spending time on a daily commute, that means you have more time to work on personal projects and share with your family and friends. Plus it saves you gas and/or fare money.

While it’s tempting to cozy up and work in your most comfortable sweatpants or yoga pants, there are a number of reasons that dressing up to go to work can help increase work from home productivity — even if you’re just commuting to your couch!

You should wear pants (yes, everyday).

When you look your best, you feel your best, and arguably work your best.

It’s pretty hard to resist the temptation of vegging out a bit if you’ve rolled out of bed and headed to your desk while still wearing pajamas. If you have no plan to get dressed for the day, the temptation to hit the snooze button until the moment you need to be present and accounted for will really work against you.

Your computer will say work, but your favorite oversized t-shirt says go back to bed.

When you’re working from home, planning to get up early and prepare for your day allows you to create a transitional space that will help distinguish your home life from your work life. Dressing for success, even if you don’t see anyone during your office hours, will drive your sense of purpose and help you carve out a more productive space. It will also signify to any family members or roommates that you’ve entered the workspace and shouldn’t be bothered.

If you work from a restaurant, coffee shop, or workspaces, it can make you more approachable.

If you’re not dressed for the part, those around you may assume that you’re spending your time recreationally. Even if you are constantly answering your phone, drafting emails, or working on a project. It’s deceptively easy to look like you’re simply browsing the internet or socializing in casual attire.

There are plenty of opportunities to network and meet new people, even when you work from home. You never know who you may end up connecting with, and dressing appropriately to your profession can send the message that you’re an expert and take what you do seriously.

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