
We live in a Chicken Little World, which is why I love Steve Harney’s take on the latest gloom-and-doom housing market numbers: http://kcmblog.com/2010/08/26/everybody-calm-down-armageddon-is-not-upon-us/.
No, the sky is not falling, and yes, anyone who really knows real estate could have predicted these numbers. We know the tax credit pulled forward many buyers, and we know that poor jobs numbers and lagging consumer confidence directly affect housing. Regardless, many brokerages will book better numbers than 2009 at year-end, even though the story would be happier had it ended in June. As Steve and others note, we’ll still see about 5 million sales this year, similar to what we had in 2000, which we thought was a pretty good year. Like much in life, it’s all relative.
What IS different is that we have far too many sales agents and far too much brick and mortar – even after the attrition of the past few years. That absolutely has to change to “right-size” this business. Smart-and-savvy practitioners must skate where the puck is going:
- Opportunity: Fewer agents don’t necessarily mean less revenue. How about putting the effort we put into recruiting bodies into coaching our fertile raw material to a 20% or 30% increase in units? How would that look from a productivity, profitability and branding standpoint?
- Opportunity: Home ownership as a percentage of households is declining for various reasons, which means rentals will be stronger. People have to live somewhere. What are the opportunities in developing profitable rental and property management offerings?
- Opportunity: Many Americans are sitting on cash they’ve been unwilling to invest due to market uncertainties. At some point, they’ll want to put that money to work. Real estate is a great buy now. How many of our associates are truly educated and proficient at working with sophisticated investor buyers, who can represent a long-term, customer-for-life income stream?
- Opportunity: Years from now when we look back on 2010, we’ll be saying things like, “Gosh, I could have bought this house for X in 2010. Boy, did I miss the boat.” Are we articulating that to buyers when they ask us, “How’s the real estate market?”
I keep reading that recruiting is the only salvation of today’s broker. Yet, in private conversations with brokers, I hear them say that probably 30% of their sales force is truly engaged, committed and effective. Think of the wasted effort and resources spent on the other 70%, and on continuing to spin that revolving door by adding the wrong people to your bus with feverish but not necessarily thoughtful recruiting. Remember the old saying about continuing to do the things we’ve always done and getting the same result?
Success does in fact depend on a GREAT sales force. It does not depend on recruiting for recruiting’s sake. The real key is quality talent selection, arming that talent with market-relevant, consumer-focused skills development and coaching, and enforcing standards and accountability.
So what if you take a temporary step back in market share in that re-tooling process? Building a company with universally strong talent is the ticket to true brand differentiation. It will trump body shops every day of the week in this consumer-driven economy. And you may in fact not step backward, because cleaning house sends a powerful message to those remaining: “You meet our standards, we only have winners here, our leadership is focused on helping you achieve your full potential.”
As someone smarter than I said: “Stop waiting for the storm to pass, and learn to dance in the rain.” Opportunities are everywhere. Those who seize this day will be the market leaders of tomorrow.
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Pam O’Connor
In this series we have looked at how, in order to be local experts, we need to have an understanding of what happens elsewhere; at how small changes in how we express ourselves can create a huge improvement in comprehension no matter what the language and how to redefine “International” into more actionable consumer segments for better marketing and service situations.
Posted by: Sharon E. Michnay, CRP, GMS, WRS, Executive Director, Corporate Business Development, Halstead Property. Sharon is a member and former chairperson of the LeadingRE Advisory Council.
The same disconnect occurs in the real estate business. Our industry’s own “news arbiters” face the same challenge, I suppose, of generating revenue, so they respond by being provocative and positioning themselves as the hotbeds of innovation and bad boys of real estate.
The best place to start identifying which countries are most interested in your location is by checking your company website analytics. Analytics from
These college graduates in their first post graduation jobs all agreed in unison with great enthusiasm. I had to ask: “What are you going to Target for?” Their response? “We don’t need anything; we just like to shop there. We like to look at what’s on sale, buy toothpaste and anything else that may be a bargain.” Well, I looked at them like they were speaking a different language and had to get to the bottom of this strong customer loyalty that Target had created in this Millennial Generation. Next question: “Why Target? Why not the other mega retail stores?” Now they were looking at me like I had two heads. “Aunt Jana, we don’t go there.” I won’t convey their reasoning but if you have ever searched the mega retailers by name on YouTube for visual entertainment, you will understand their sentiment.
How do we reach the greatest audience? Place the listing on the company website, syndicate it out to multiple locations and maybe write a blog post or “share” it on social networking sites. These are all very good tactics, but there is a less glamorous side that is equally important: making sure the information is understandable from multiple language and location perspectives.
Every client that comes from further than across the street has the potential to be accompanied by a different real estate culture and, with it, many different assumptions and expectations. The MLS system is probably one of the most obvious examples of this.
Is this because we have a limited view of what “International” is? Perhaps all the information we’ve gathered has simply created a confusing interpretation of an overused term.

Robin LaSure
Sonja Lovas of Houlihan Lawrence Real Estate in Katonah, New York is one of Propopoly’s most active bloggers. Her content is dynamic, interesting, comprehensive and a joy to read – she covers everything from
Lauren Ake
Earlier this year, my husband and I decided to sell our condo and upgrade to a single family home. We called our trusted real estate agent, talked to her about our plans and started our next adventure.
And, we had a special tribute to a special lady, Ruth Ann Pepple, as she opens the next chapter of her life post-retirement. In a “This is your life” tribute with several surprise guests including Steve Murray, Cris Collie, Joe Aveni, Shel Detrick, Wes Foster, Rose Marie and Bob Phillips, Chip Roach, Dick Christopher, Dick Elsea, and – via video – Senator Johnny Isakson, Ruth Ann was feted in fine fashion to celebrate her outstanding 37-year career. Congratulations, Ruth Ann! (You can reach out to her in person at 312.424.0430 or
The new buyer would receive a deed which would have a clause “by accepting this deed, the buyer (Grantee) agrees to accept and assume the mortgage and become personally liable.”
Real estate brokerages are comprised of independent contractors who affiliate themselves with a company because they feel they will be provided with the best business platform to be successful. The company’s success is determined by the professionalism of those contractors.
The first rule of networking is being prepared to talk to strangers, something even the most outgoing personalities can sometimes find daunting. Conference networking is easier in that those attending are engaged in the same industry, revealing an immediate commonality and topic of dialogue. For first time conference attendees, the idea of networking may be especially intimidating. If you are a first time attendee, shift your mindset – it’s easy – here’s how:
You may have been reading the various “top 10 2009 real estate stories” assessments while relaxing over the holidays, as I have.







The talk show format is upbeat, conversational and real. The guests come from all tangential industries to ours such as attorneys, appraisers, lenders, other brokers, interior decorators, insurance representatives, inspectors and clients who all have a story to tell. The weekly topics are easy to fill and there is no shortage of guests willing to come on the show and share their valuable information.
Yes it can! In September 2004, prior to the devastation of four hurricanes and the recession, Pruitt Real Estate had seven offices and 207 agents serving Brevard County. As the largest independent company serving the Space Coast of Florida, we enjoyed a commanding 19% market share in our primary market area.
Some of the best examples come from our Power Producers, an elite group of top performing sales associates participating in the LeadingRE Institute, our network’s education portal for sales associates, brokers and managers. These professionals meet monthly to network, brainstorm and share success tips on various topics. In between calls, they have ongoing dialogues via a listserv.
Our business is (unfortunately) known for following a one-size-fits-all approach, whether it’s the same commission rate charged for the novice or the 20-year seasoned veteran, or for the listing that is sold in a few days versus one with high carrying costs over a multi-month period of time.
Many brokerages across the country have managed their online presence and successfully served clients on their websites for years. Others know they need to…and it’s never too late. A successful strategy to serve consumers on your website, often referred to as Internet Lead Management (ILM), must first start with an analysis of your goals, your company cultural, and your resources. I’m a firm believer in the under promise and over deliver philosophy. 
How many times have you either asked that or thought that? Today, it’s a tough question being asked in the relocation industry. In fact, I’m not aware of one organization – whether corporate, third party, or brokerage – that isn’t being asked to redesign our service menu, reduce the bulk, offer leaner items, and create a healthier diet for us all.
With all the chatter and “hype” around using social media for selling real estate there inevitably comes the questions: “what is the ROI (return on investment)?”, “Is anyone actually making money using these sites?” and “give me a concrete example of success.”
That said, here is a great example of how social media can work for you. Chrissy Smith, the marketing director at
Can you effectively introduce a business unit which is counter-intuitive to the very foundation that your company was built on? The answer is an emphatic YES! Michael Saunders and Company started in 1976 as the premier luxury real estate firm serving the Sarasota elite and expanded over the years to meet the demands of the affluent along Florida’s Gulf Coast.
As I walked into the auditorium for the
Recently during a lovely dinner with colleagues, the conversation turned to a common one for any industry: Generations X and Y.

And after reading