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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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NAR committee

“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

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

Want to move past your burnout? Stop using multiple lists

(EDITORIAL) How my evolving understanding of “burnout” helped me learn an important distinction between being busy and being productive.

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too busy to burnout

When I used to hear the word “burnout” I would picture the freaks from the gone-much-too-soon series, Freaks and Geeks, as they would bum around outside, smoking in between classes. Now when I hear the word “burnout,” I think of myself a few years ago as my brain was being fried by life.

I wasn’t smoking between classes, rather running around like a chicken with its head cut off trying to figure out how to manage all of my tasks at hand. I’d make a to-do list, see everything I had to do, and drown in overwhelm.

I’d spend my days fretting over how busy I was, and nights catching up with friends via phone, talking about how busy I was and how there just wasn’t enough time in the day.

Notice that nowhere in here was I actually doing anything productive. I fell into a vicious hole of being so consumed with how much I had to do, I wasn’t taking the time to do anything but stress.

At first, it made me feel interesting and somewhat important that I had so much going on. I quickly realized that no one cares and it’s not that interesting (I also quickly remembered how much I love to just relax and not have something planned every day of the week).

This is where I learned the of the most important lessons to date – being busy does not equal being productive.

It got to a point where I was running on fumes and eventually had this epiphany that how I was operating was doing nothing to help me. This was in part brought on by seeing someone close to me behave the same way, and I was able to actually look at how defeating it was.

From there, I made it a point to change my tune. Instead of wasting time writing and re-writing to do lists, I challenged myself to make one master to do list and accomplish at least one item upon completion of writing the list. This helped shake off the cobwebs and I was able to feel a bit of weight off of my shoulders.

The ideas surrounding the hustle mentality had me so consumed and all I was doing was hustling my way to nowhere. After feeling the burnout, seeing someone else operate that same way, and seeing that hustle mentality mocked, I was finally able to break free and get stuff done.

And, guess what? I have even more to do now, but feel more calm and collected than ever. I just have to repeat the mantra: Being busy does not equal being productive. Being productive – especially in silence – is so much better and much more rewarding.

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Op/Ed

Morning rituals of highly successful people – do you have one?

(EDITORIAL) Success looks different for everyone. But even as an individual, there are some patterns you can incorporate in your morning routine that can get you started on the right foot. Let’s take a look at what successful people do in their morning rituals.

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realtor working

Fleximize took a look at the morning habits of 26 of the country’s most successful individuals to include the President of the United States Barrack Obama, Arnold Schwarzenegger, Steve Jobs and even Oprah Winfrey.

What was discovered? Well, each of the men and women on their chart start their day early with time blocked out for exercise and meditation, breakfast and family. In short, things that are important!

Someone, somewhere coined it best: “If it has to happen, then it has to happen first!” Everyone has an “it.” Anyone who has managed to find professional success is surely embracing this philosophy. The first hour(s) of the day are used doing whatever is one’s top-priority activity. And no sooner do you start you risk the priorities of everyone else creeping in.

Interestingly enough, exercising in the morning is one of the group’s top priorities. It’s been said many times that exercise helps keep productivity and energy levels up and better prepares us for the everyday challenge of achieving all we can.

From start to finish, the daily life of each successful person is very much dictated by their family and job. But there are definitely some patterns that we can all incorporate into our own lives to achieve higher success and order.

An Insider article found that “the most productive people understand how important the first meal of the day is in determining their energy levels for the rest of the day. Most stick to the same light, daily breakfast because it works, it’s healthy for them and they know how the meal will make their mind and body feel.”

The Fleximize chart demonstrates that successful people consider the quiet hours of the morning an ideal time to focus on any number of things: important work projects, checking email, meditation. And what’s more, spending time on it at the beginning of the day ensures that it gets complete attention before others chime in.

So check the chart and find someone you can relate to.

BI points out that planning the day, week, or month ahead is a crucial time management tool designed to keep you on track when you’re in the thick of it. Using the mornings to do big-picture thinking helps you prioritize and set the trajectory of the day!

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Op/Ed

If ‘likes’ are dead and no longer matter, what does?!

(OPINION / EDITORIAL) Social media likes don’t equal people ‘Like-liking’ you. What should you measure instead?

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likes in social media

What is “like”? Baby, don’t hurt me… but it’s the same as what it “meant” in middle school.

As in, it could mean any number of things, most of which aren’t as deep as you were lead to believe.

A lot of us are still hanging on to a like count translating directly to how many sales we’ll make, or how valuable our presence online is, and news like Instagram shutting down like counts threw people who land between the extremes of gas station flip-flop brands and Nike on the ‘How well are we known, and how much does it matter’ spectrum for a serious loop.

Well, this is where you exit the loop, because the likes are made up and the counts don’t matter.

That’s a bit harsh, let me try that again…the amount of likes you get on something doesn’t matter as much as you think it does.

Take YouTube’s interface for example. You can like a video to show your support, or dislike it because you disagree or think it sucks. Here’s the twist: it doesn’t actually matter how much a video was liked or disliked. YouTube just sees people interacting with the content, and doesn’t discriminate between fame and infamy when it bumps things up the lines for more people to view.

If any given shoe company shared a video of grade-school age kids working on our athletic wear, it’s highly likely that there’d be a lot of comments, a lot of likes, and a wave of dislikes.

Are the likes edgelords agreeing just to ‘own the libs’? Do they like the production values? Do they like the company values? Do those likes belong to repeat customers or not? Are they being liked because the person behind the account gave herself tendonitis being on her phone all day for a solid week, and selecting which playlist to put it in was too painful, so she just added it to her liked videos to save it for later because the Advil is too far away?

You have no idea.

And the same goes for any and every other platform out there. Ergo, strategy, presentations, and investments based on number of likes are all castles built on shifting sand.

I still remember a long form content-style commercial for some…keto…thing? With a witch in it, and she got her revenge body, and…stuff? Slapped a like on it. Did NOT buy that keto stuff. I couldn’t even tell you if it was a drink, powder, bar, or a gym at this point. We’ve come back full circle to the era of people remembering fun commercials, but not moving past that.

So what DOES matter?

Comments: Kind of.

You actually have to read these to see what’s valuable. There’s nothing sadder than having an alert go off with ‘10 new comments!’ but all of them are ‘I made 10k in a week working from my moonbase’ type spam.

Moreover, if all of the comments are negative, you’re doing great as far as eyeballs on all the ads you have supporting your site, but not so great on actually spreading what’s going to get you paid paid.

Shares: Sort of.

Have you ever seen a ‘hate share’? Those shares where your friends put a poor horrifically abused animal on your feed for NO GOOD REASON other than to show how much they hate the person that did it? Your brand content is not immune.

And not everyone’s settings will let you see the spirit in which something was shared. They could be buying. They could be outraged. The important thing here is that you monitor as much as possible, and don’t fall for the ‘no bad publicity’ line. You’re not the late Anna Nicole Smith (…right?). You’re a business owner.

Purchases: Mostly.

This always bothered me back in other places I worked. We’d huddle up, and cheer over an email generating loads of opens and buys—woo, we did it troops, we’re on the way up, and so forth.

The catch was usually that this email was about a giveaway, or a huge sale.

When we used the same formula in titling, formatting, and getting hyped about other emails that offered products at full price? Crickets. And now that you can purchase through new social media integrations, we’re facing the exact same potential for premature e-celebration with old new media.

If no one’s willing to buy your product/service at full price, purchases during sales periods are nothing to get super excited about.

We’ve gone through a lot of caveats here, good job following it all! This is where we get to the positive part.

Follows are something you can reliably keep track of!

It’s confusing since Facebook uses the same verb for inviting a page into your life, and doing whatever with an individual post, and also you can follow without liking, or still like a page but unfollow it, so I’ll call the phenomenon of clicking a button that will put your content into people’s feeds free of charge (somewhat) ‘follows’.

Follows are people saying ‘I need you by me, beside me, to guide me.’

It’s someone being totally willing to let your company be a part of their day. It’s a reliable stop-gap measure between awareness and purchasing! Hate-follows are ‘a thing’, but unless your brand pages are set to follower-only (which…WHY), you’re more likely to know that the folks following you like-like you, and you can adjust your focus accordingly!

This whole article can be summed up as ‘You can’t make quantitative data the only thing you look at.’ Even going by follows, if you have high follows, but low purchases, it’s probable that the people you’re pitching to don’t have the capital you’re actually aiming for. Not to get woo on this, but a human-focused, holistic approach to analyzing your social presence’s performance is your only option for success.

Whether or not you include bells and incense is up to you.

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