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Op/Ed

Everything the tech gurus are telling you is bullshit

Tech gurus have fun tools to sell you and tricks to teach you, but I can tell you first hand that it’s mostly bullshit.

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technology

I am known as a technologist. An avowed geek. An unapologetic adopter of shiny new objects. My passion is finding out how technology – specifically the internet, can make my job better, faster, and more profitable. It is also figuring out how the consumer intersects with the internet and how I can leverage this to create more business.

In years past, I bet heavily on internet lead generation, customer relationship management (CRM) systems, and video email marketing. I researched the best platforms and practices, sought the counsel of the foremost experts, and hired the best talent.

I had some great wins and surprising losses this year. I’ll get into that in a bit… but I realized that the real estate industry often markets tech on the internet as a replacement for human connection, as a convenience for the agent, and as a crutch for a basic lack of knowledge and expertise. In the real estate industry, technology is marketed as a shortcut to profits and that is complete bullshit.

Fair warning- this post is likely to get you riled up and deny that any of it applies to you. That’s cool. It probably doesn’t, so move along. I am not trying to derail your successful train. But this category of business tools creates stress for a lot of agents who feel left behind or “less than.”

About those gurus on stage at your favorite conferences

Listen to the gurus on stage and the vendors hawking their wares. According to them, the internet can provide a never ending source of people who want to buy and sell (leads). It can eliminate the need to chase signatures or show homes. It can sell homes without the need to open it to strangers or tell you a home’s value instantly and automatically.

Wow. Get clients without dealing with real time rejection. Show and sell homes with no physical effort. Find values with no expertise or local knowledge. Makes you wonder what human Realtors are going to do. Flip burgers, maybe?

Internet-based tools are an amazing enhancement to traditional skills and techniques, but it is often promoted as the miracle cure and wholesale replacement of skills and knowledge. I call this bullshit – but our industry is buying it.

The enticement of internet lead generation

Let’s start with internet lead generation. The surface promise is very enticing. Write a check and get a never ending stream of people interested in real estate who have given up their contact information. No physical effort. No skill required. No face to face rejection. Who wouldn’t sign up for that program?

But here is the problem. It takes a lot of money to do internet lead generation effectively. It takes a lot of resources to follow up and it generally takes time to create a sale. When you factor in all of these resources, internet lead generation is far sexier on paper than in practice.

Now, this does not mean lead generation isn’t a viable way to run a business. But it is best done in a team setting with proper resources to handle these leads effectively. In a team setting, internet lead generation is less likely to divert attention away from relationship building. And, for a single agent it is a very dangerous place to “bet the farm”.

So I can pay more but get the same results?

The number of portals and agents competing for attention increases every month, so the resources required to stay level will also increase. This means it continually takes more money to get the same result… and this is where I call bullshit. The average agent is only seeing the tiny fraction of people making a profit from internet lead generation and they have no clue how costly internet lead generation actually is.

And that is another problem. How many agents use internet lead generation as a replacement for the much less “sexier” work of face to face prospecting? My guess is quite a few. I’ll confess. I tried replacing my traditional prospecting with a lead generation site. It was bullshit.

Another bullshit problem: social media

Here’s another technology coming between the consumer and the agent. Facebook, Twitter, and email marketing- loosely categorized as social media. When used as an easy, thoughtless, broadcast machine (as most agents do) the agent is following the idea that being seen- frequently- is the way to make the phones ring.

Agents have been doing this sort of “look at me!” advertising with postcards and print advertising for years. However, print cost lots of money and most will give some thought and attention before doing each piece. Social media is essentially free and nearly effortless, allowing agents to completely alienate their audience with their avalanche of tone deaf posts and emails.

Now, at least this stuff is nearly free and the agent has resources left over for traditional relationship building. But, how much damage is done to potential real life relationships with poor and uninformed social media tactics? The bullshit part is that free and easy should not mean tacky, thoughtless and loud.

E-sigs aren’t the next coming of Christ

Here’s another thing. I thought electronic contracts and e-signatures were the best technology tool since sliced bread. And, used properly, it still is. Contracts can be signed at the consumer’s convenience and that can be a huge benefit for busy lives. All too often, though, e-signatures serve the agent or brokerage more than the client. There are situations where the client is best served with an in-depth explanation of the documents, but they are given an e-signature package instead.

This was one of my hardest realizations – I was completely guilty of choosing convenience over great representation. I told myself it was for the convenience of the client, but it really made my job a lot easier. This is not cool, it is bullshit.

I love technology, but…

Now, don’t get me wrong. I am still the technology fan girl you know and love. But with each passing day, I am convinced that a lasting and enduring business is made with an authentic connection to the people in my community. Technology simply gives me the opportunity to make more of those connections.

I meet and interact with hundreds of people on local Facebook groups and these interactions have led to wonderful real life meetings and lasting relationships. It is an amazing and efficient layer to my traditional community building and prospecting. But it is a layer. Nattering on Facebook all day long does NOT create enough engagement to create a business.

So, what were my wins?

I used technology to publish my internal checklists to my clients, bringing a new level of transparency and accountability to our transactions.

I went deep on an unreasonable number of CRM systems and I am getting close to having a system that enhances both the creation of business as well as the transaction.

I went even deeper into the concept of the paperless office. There are a lot of benefits to a paperless office, but for the consumer, it means anyone on my team can answer any question, anytime, anywhere.

And my losses?

What were my losses? The biggest loss was my investment in internet lead generation, and that was a real surprise. I invested heavily in the platform, in the tools and in the human resources necessary to make a profit.

I learned what it takes to make this business strategy work, but I also learned that I would rather use my resources to build a local community.

Another “loss” was the lesson learned on e-signatures. I have retooled my process to make sure that certain critical points in the process- the purchase contract, escrow instructions and going over disclosures, are no longer a simple e-signature packet.

Moving forward – join me?

As I enter the next year, I am focused on a few principles. Belly to belly rules. Technology done right is invisible. Build a community to build long term trust. Make a difference.

Wanna join me?

This story was originally published in January 2015.

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Kendyl Young is Division Chief at DIGGS, and an industry veteran. She has been named to the Inman 100 Most Influential Real Estate Leaders, contributed to industry books and speaks about social media and technology. However, her purpose is to help people buy or sell their perfect home in Glendale, La Canada and La Crescenta, CA.

Op/Ed

10 small things you can do for your business while Netflixing

We know the holidays are a time to relax, but before normal working hours have returned, you can still do things for your business in between episodes on Netflix. Here’s 10 simple things that won’t cut into your holiday.

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For many real estate agents, the holidays can slow business down. It’s time for some #ProductivityAndChill.

Instead of spending all day binge-watching Hulu or Netflix, in between every episode take 10 to 15 minutes to do something for your business. Here are some great ideas for things that don’t take long, but provide some long-lasting benefits.

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Productivity and chill

1. Get inspired by your favorite websites. Where do you like to shop or get your news information? Browse through their site with one purpose in mind, to see why it draws you in and how you can implement their methods into your own business.

2. Catch up on the news. Read some articles here or at The American Genius that you might have overlooked or passed by because you thought they didn’t pertain to you. Keeping up with various industries can benefit you.

3. Use your social media tools to set up posts on Twitter or Facebook.

4. Improve your webpages by writing new product descriptions or to optimize images for SEO.

5. Go through the App Store to find new apps which can help make your life easier.

6. Learn to use a new social media platform to reach out to new customers.

7. Go through your social media feed. See what people are talking about and what’s trending. Make notes when you get inspiration.

8. Clean up the documents in your laptop. Organize them more effectively so you can always find what you need.

9. Clean up your email. Unsubscribe from newsletters that you don’t ever look at. Delete messages that are old. Set up folders to save information that you may need at a later date.

10. Customize your email. Set it up to pre-sort emails into different folders to allow you to work more productively when you get back to work after the New Year.

These little tasks can eat away at your time when you’re busy trying to get things done, but when you’re relaxed and just want to feel more productive, take a few minutes to do something that won’t overtask your brain, but needs to be done to keep you more organized throughout your week.

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Op/Ed

A negotiation strategy successful people always use

(OP/ED) Successful people didn’t wake up one day in a leadership role, they used this negotiation strategy every day to win.

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assertive broker meeting negotiation team

One of my earliest lessons in the art of negotiation went down at home, as the youngest child trying to get the one up on my older brother. It was the mid 90s, Pepsi was rewarding loyal customers with Pepsi Points hidden in their 24-packs. I don’t think either of us knew what the hell we would even do with the Pepsi Points, but we both knew we wanted them. So for hours we negotiated.

There was yelling. There was name calling. Finally, my dad came in with a pair of garden scissors and proceeded to cut the Pepsi Points voucher in half. We were speechless. Our dreams of amassing a wealth of Pepsi Points turned into a lose-lose scenario.

Sadly, our negotiation experiences today end up following a similar pattern. Long, energy draining negotiations end in lose-lose scenarios. My own pattern of negotiations gone wrong only began to change when I became a community mediator in college. I learned from leaders in business, law, and social work negotiation skills that have helped me in both my professional and personal life.

A good starting point to any negotiation scenario is understanding negotiation motivators. Some of the obvious motivators are money and resources. These obvious motivators are at the tip of the iceberg. In negotiations, these motivators are often written or verbally communicated. However, there can be a handful of other motivators hiding beneath the surface. These motivators represent the hidden, yet powerful underside of the iceberg.

Here are some common hidden motivators to keep in mind: respect, accountability, safety, and power.

Seeking clarity involves slowing down the negotiations and proactively checking in with the other party to ensure you’re understanding points of agreement or disagreement correctly.

Often, this looks like simply taking time in the negotiations to summarize progress. For instance, negotiating with the head of another department about the use of meeting rooms. A summarizing statement on when and why each party needs the meeting rooms can be critical in correcting assumptions earlier on rather than later. It also helps ensure objectivity.

I’ll be totally honest and admit to times when I’ve been tempted to turn negotiations personal. In my head I’ve said things like, “Sally wants the meeting rooms all to herself” or “accounting is always trying to hold me back.”

Seeking clarity by summarizing key points helps keep us grounded in reality, and ensures that we are working towards each side’s true needs rather than the needs we assume in our heads.

We hear this term in sales pitches, business seminars and relationship workshops. But how can we create win-wins the midst of negotiations that are often stressful and complex? Well, let’s break down the win for both sides.

First, we create the win for ourselves by coming into our negotiation meetings with a clear picture of what our goals are both long and short-term.

In negotiating a purchase, I may want monetary savings now, but in the long term I’m willing to pay more if a product can meet my long term goals of reliability and convenience.

Ensuring a winning scenario for those on the other side of the negotiation table involves creating buy-in. This doesn’t mean stating your solutions and getting the other party to begrudgingly agree. It’s about asking open-ended questions and giving the other side a chance to craft their ideal solution. Sometimes, simply asking the other party what their ideal solution looks like can give you a head start in reaching a mutually beneficial scenario.

The most important step in creating a win-win scenario is to embrace creativity. Click To Tweet

We do this by focusing not just on WHAT the needs are, but HOW those needs are met. Think outside the box. For instance, what are some non-traditional ways of structuring payments? What are some non-traditional employee benefits? What are some non-traditional services you can add to a contract?

Negotiating is one of life’s necessities. Unless you live in your own self-sustaining plastic bubble, eventually you’ll need to practice the art of effective negotiation.

Don’t be like my Pepsi Point obsessed eight-year-old self, slipping into a lose-lose scenario due to lousy negotiation skills.

Practice seeing the other side of the iceberg, seeking clarity, and embracing creativity. These three negotiation skills can quickly turn a lose-lose scenario into a mutually beneficial one for both parties.

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Op/Ed

The music you’re listening to may dictate your productivity levels

(EDITORIAL) Whether it’s a podcast, news, or music, most people are listening to *something* while at work – so what makes you the most productive?

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music for productivity

For some, productivity requires a state of concentration that can only be achieved in silence. But workplaces are seldom so quiet, and truth be told, most of us prefer to have some background music playing while we work. Some people swear they can’t work or study without it.

Personally, I find music helpful for encouraging productivity and creativity. It distracts the part of my brain that would normally be chattering away – the voice in my head worrying, wondering, and daydreaming. I find that music neutralizes this inner voice, freeing up my brain to focus on the task at hand.

More and more research backs up what many of us experience – a state of enhanced calm, focus, and creativity when we listen to music while working. Deep Patel at Entrepreneur.com has a list of the best types of music to serve as the soundtrack to your workday.

Typically, music without lyrics is best for working or studying, since lyrics tend to catch our attention. Research has so consistently shown classical music to boost productivity that the phenomenon has it’s own name – the Mozart effect.

But other forms of wordless music can work as well. Patel recommends cinematic music for making the daily grind feel as “grandiose” as a Hollywood epic. Meanwhile, video game music has been specially designed to help gamers concentrate on game challenges; likewise, it can help keep your office atmosphere energized. Soothing nature sounds, such as flowing water or rainfall, can also help promote a calm but focused state.

Music with lyrics is okay too, as long as it doesn’t turn your office into a karaoke bar. Cognitive behavioral therapist Dr. Emma Gray worked with Spotify to identify the characteristics of music that can actually change our brain waves. She found that music between 50 and 80 beats per minute can trigger the brain an “alpha” state that is associated with relaxation and with being struck with inspiration.

Really, any music will do, as long as you like it. Research from the music therapy department at the University of Miami found that workers who listened to their preferred artists and genres had better ideas and finished their tasks more quickly.

What styles of music help you focus during your workday? I myself enjoy the collection of “lo-fi” or “chill-hop” playlists on YouTube. This music has a consistent beat that is engaging without being distracting, and the accompanying video generally features an adorable cartoon character to keep you company.

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