In this whirlwind of a week, our readers’ voices stood out, propelling conversations about basic industry standards, Nate Ellis and his generous soul, how to leave a legacy and things that matter more than your car.
Steven Rall · Commented on What’s behind rapid growth of big brokerages? Technology, some experts say | Inman
I’d say a big difference (why my company is growing) is the culture within the office. Our agents feel like partners on a team rather than being competitive with each other.
[Tweet “Steven Rall: ‘The culture is why people stay.'”]
At the end of the month if the “team” succeeds and there is profit, then we have a chance to share in that profit. We have awesome technology, too, and training/coaching that is available at every level of production. Yet the culture is why people stay!
Julie Morehead Bridge Commented on How to prepare new agents for long-term success | Inman
Frankly, it is not just lack of training from a brokerage. The 90 hours needed to get a salesperson’s (agent license) has nothing to do with being an agent! They need to worry/teach less about life estates, remainderman, how many rods of fencing will it take to go around a parcel? Property management rules, appraisal techniques (unless you are going to appraisal school!)
[Tweet “Julie Morehead Bridge: ‘[The agent license] has nothing to do with being an agent.'”]
The NAR needs to change the focus for teaching new agents from teaching about things they will never use, and teach on how to be a real estate agent! From day one of “how to get your first contracts,” to “what do I say when showing a house,” to actually writing a contract, to being ethical, and not thinking so much of how you can make money, but by thinking of showing respect to all parties. And stick with ethical behaviour! End of rant!
Jennifer Burns · Commented on How to prepare new agents for long-term success | Inman [responded to Julie Morehead Bridge]
I agree wholeheartedly! I just passed the exam on 3/24. I was shocked at the lack of actual agent knowledge provided. No info on contracts, timelines, lead generation, etc. I studied hard and passed with great marks, but would have appreciated more real-world education.
[Tweet “Jennifer Burns: ‘Starting into an office…I’ve been surprised at how little supervision there is.'”]
Starting into an office, and I’ve been surprised at how little supervision there is. I’m thankful to have joined a team but am also looking into a coach, to ensure that I start as best I can.
Laura Monroe · Commented on Industry loses beloved educator, advocate, friend: Nate Ellis | Inman
Brad, and the rest of the Inman Team, thank you for this. I know first hand that Nate Ellis provided so many of us opportunities to connect in meaningful ways over the years through the industry, through Inman as an Ambassador, and a true friend.
[Tweet “Laura Monroe: ‘I’m so happy [Nate Ellis] will live on through this.'”]
I’m so happy he will live on through this, and through your acknowledgement of such a giving, and generous soul. He was fun, always smiling, helpful to a fault — and always helped this girl find her car in San Francisco at ICSF :). Thank you.
Barbara Carey · Commented on Move-Zillow spoliation hearing live blog: Day 1 | Inman
Mark Twain, “If you tell the truth you don’t have to remember anything”…..got to love that!
[Tweet “Barbara Carey: ‘Mark Twain — If you tell the truth you don’t have to remember anything.'”]
Kenneth Jenny · Commented on Should brokers wrap agents into their brand or propel individuality? | Inman
There really is no degree of granularity as it relates to the scope of a brand. For those that believe a brand should be defined by the offering created by a person — so be it. For others that strive to represent that an entire company represents and offer — good, too.
It is far more important for a brand — no matter what size — to represent something consistent and duplicatable. And positive. Like what Apple, or Oracle or even Amazon currently deliver. These brands represent a specific offering backed by teams of people who make each offering happen for the consumer.
[Tweet “Kenneth Jenny: ‘Imagine if the American Airlines brand were defined by individually branded pilots.'”]
Imagine if the American Airlines brand were defined by individually “branded pilots” who flew airliners “the way the wanted to” each time you flew. Or if the Marriott Hotel brand were to be defined by disparate property owners who delivered a wide variety of quality of their beds, service or food quality.
I get that the real estate industry “is different” — but when that “difference” impacts the delivery of a predictable offering — that “difference” may not essentially be positive for the reputation of an entire industry.
Jennifer Hayes Burgess · Commented on Why agents should always be ‘outrageously authentic’ | Inman
Fantastic “permission slip” to hang your outrageous personality out there! This couldn’t have come at a better time in my social media lifecycle as a friend recently told me my social media accounts, especially Facebook, was getting down right boring. I’ve just been playing it safe.
[Tweet “Jennifer Hayes Burgess: ‘I’ve just been playing it safe.'”]
Beth Sandland · Commented on Attention-grabbing secrets from Donald Trump (and other spectacles) | Inman
You don’t stand out from the crowd by carrying around a sold sign everywhere you go, or sitting at the coffee shop with a name tent. You stand out from the crowd by building a business based on integrity, conviction and being real — and then letting the world know that you are an authority in your realm. Ryan shares all of the tools necessary to build a business that you can be proud of and that will do more than must make money; it will help you leave a legacy.
[Tweet “Beth Sandland: ‘You stand out from the crowd by building a business based on integrity.'”]
Dean Soukeras · Commented on The squeeze on venture capital could hurt real estate startups | Inman
I’ve started tech business in the past, some funded and some not. The average is that 1 percent of businesses get a seed round, and even among those 1 percent, only about 20 percent get to a series A.
[Tweet “Dean Soukeras: ‘The average is that 1 percent of businesses get a seed round.'”]
Having been in real estate and tech, I always try to advise young founders to avoid raising money until they have a solid business, which I mean, have something people will pay for. (Social media and engineered products are the exception, not the rule). If you can’t build a business that is profitable and self-sustaining, then you need to re-evaluate. Investor funding is to scale up and grow quickly, and not to stumble around looking for something that will work. I think founders and investors are starting to come to this realization.
Bruce Ailion · Commented on How to win high-end clients while driving a clunker | Inman
As a broker I often hear agents say they do not have what they feel they need to be successful. It is often a can’t do, rather than can do attitude. Early in my career I began working with IBM executives. At the time I was driving an 12-year-old MG Midget convertible with a crumpled trunk. My desk drawer was the glove compartment and desk was the hood. If we going out to look at homes I would offer, “we can take mine or yours.” Most often they were driving and I was navigating and saving on gas.
Later I drove a Mercedes 560 SL convertible; I think I lost business because people thought I was making too much money. Now I drive a 4-10 year old Lexus. Clients like the car, can’t believe how old it is, and appreciate the frugal luxury.
It really is not about what you drive but what drives you.
[Tweet “Bruce Ailion: ‘It really is not about what you drive but what drives you.'”]