I recently discovered Scott Galloway and absolutely love his insights. His recent book Post Corona is a must-read for leaders and business owners. He sent this message out today and I just had to share it. Great insights into the COVID stimulus and who the true “winners” have been.
I am really enjoying Bill McDermott’s book Winner’s Dream. I first heard about it from Ivy Zelman at Zelman and Associates and picked it up based on her recommendation. It is a faced paced read and one I would recommend to anyone but, particularly to anyone who is just started their career. Bill was able to accomplish so much because he was a hard worker, put people first, wasn’t afraid to innovate and take risk, and was always willing to take on the tough assignment. During his tenure at Xerox he wrote down his “Most Important Things in the World” list and I found it to be very powerful.
“Acquire the habit of attending carefully to what is being said by another, and of entering, so far as possible, into the mind of the speaker” - Marcus Aurelius
Mank was probably my favorite movie of 2020 and I would suggest it is director David Fincher’s masterpiece. To me the movie boiled down to this quote: “If you keep telling people something untrue, loud and long enough, they’re apt to believe it.” The movie brilliantly walks the line of comedy and drama and emulates the style and editing of a classic 1940s film. Mank’s message is totally relevant today.
Watch it on Netflix!
A few years ago I read an interesing book, Culture by Design by David Friedman. David’s main thesis in the book is that companies need to go a step further with their companies values. The company needs to define the actual behavoirs that comprise the values.
We took this step at MSRE and created our Fundamentals:
Show up. Be in the office. Participate in the business. Add value to your peers. Do the work!
Create an experience. Do the little things, as well as the big things, that blow people away. Create an extraordinary and memorable experience that your clients will tell others about. Mere satisfaction is for lesser companies and agents. Your job is to blow the client away!
Dress for success. Our customers expect us to be consummate professionals! Your dress and appearance are an important part of that. Dress the part!
Show up on time. If you are on time, you are 15 minutes late. Show up early, get your bearings, get prepared and get your mindset right.
Pick up the phone. The best form of communication when an in-person meeting is not practical is over the phone. MSRE team members negotiate contracts, update our clients, and handle conflict over the phone.
Do what is best for the customer. Simply put, place the customer's needs ahead of our own. The quickest way to build a fantastic reputation is to always do what is right for others. We are in the service industry and therefore we will sometimes have to prioritize the needs of our customers over our own. As Zig Ziglar said, “you’ll get what you want when you help others get what they want.”
Always add value. Understand your industry. Master your craft. Study the market. Attend CE regularly. Leverage resources like MLS market reports, realtrends.com and Inman.com to become an expert in real estate. Learn about available mortgage programs from Shelter. In order to deliver exceptional client experience, you must be an expert and then share that knowledge with your clients.
Set expectations and then deliver. Your goal is to create clarity for our clients and avoid misunderstandings by discussing all expectations upfront. If necessary, confirm your communication by asking others to repeat back their understanding. As a trusted advisor, the importance of clear and upfront expectations cannot be understated.
Act with integrity. Be honest in everything you do. Be militant in your morality. We always do the right thing for the client and customer!
Leave your ego at the front door. It is not about you. Don’t let your ego or personal agenda get in the way of doing what is best for your clients and the team. Even when you are right and/or didn’t cause the issue. Listen, apologize, provide solutions, thank the customer for their feedback! MSRE is an ego-free zone. At MSRE you should always be willing to do whatever it takes to help get our client the results they want.
Operate with a sense of urgency. Time is of the essence in the real estate transaction and in everything we do at Mark Spain Real Estate. The future will belong to the “quick.” MSRE team members deliver with intensity and a strong sense of urgency to get things done!
Embrace change. Our world and industry are constantly evolving. Embrace change. Evolve. Look for new ways to improve your approach.
Do the right thing, in all things. Listen to your gut. If it feels wrong, don’t do it. If you are unclear, ask your Director or a peer. What we do is not about a commission check, it is about helping our clients get to the closing table. Place the client's needs above your own and do what is right in all things.
Deliver unprecedented client experience. Set proper expectations, over-communicate, look for opportunities to “wow” your client, follow up, and follow-through. Always do what you say you are going to do.
Be relentless in pursuit of self-improvement. Read at least 10 new books a year. Exercise. Eat well. Practice the concepts taught in the Compound Effect. Self-care is part of your job, it is your responsibility so that you can perform at the highest level in all that you do both personally and professionally.
Be a follow-up fanatic. Exhibit a “close the loop” mentality in all matters. It is always better to over-communicate with leads, clients and past clients.
Don’t be a secret agent. Let your friends and family and sphere of influence know what you do. Don’t be afraid to ask for their business. SOI business can be huge for an MSRE agent’s income. Don’t overlook these opportunities.
Pursue freaky-fast response time. Conduct pre-appointment confirmation calls as soon as reasonably possible. Return all calls and emails as quickly as you can (while honoring your time blocking!) At a minimum same day. Tensions run high in the real estate transaction. Help alleviate that stress for our customers and clients by being aggressive in your response time.
Protect your time. Follow the principles outlined in The One Thing and embrace time blocking. Make sure your dollar productive activities are blocked first. Remember when you say “yes” to something, you are saying “no” to something else.
Be a cheerleader for your peers. One of our core values is to support a fun and supportive culture. Live this value by always being a cheerleader for your peers. Celebrate their successes and support them when they struggle. Follow them on social media. Comment on their real estate posts.
Understand the contracts and the law. The majority of agents have never read the contract they work with daily. This is shameful. In order to deliver world-class client experience, it is imperative that you take extreme care when completing the contract and producing special stipulations. As the fiduciary of the client, you must ensure they fully understand the contract. A sloppy contract or stipulation or a lack of understanding can cost our clients dearly.
Be an expert. Know your craft. Attend CE for education not to fulfil the requirement. Understand all aspects of the real estate transaction: contracts, timelines, loan products, inspections, appraisals, mold, radon, termites, etc.
Be a master of MSRE policies and procedures. Learn all aspects of our business from marketing to ISA to admin to sales to GO. Leverage Litmos and the intranet. Know how MSRE does business.
Remember that setting expectations is the most important part of the job. The average homeowner sells once every 7-10 years. As their trusted advisor it is your job to make sure they fully understand the process.
Be the agent you would want to work with. Your job as an agent is to bring the buyer and seller together and then get out of the way. At MSRE you do not let your own emotions get in the way of the transaction. Treat co-op agents with kindness and professionalism and work together to get the transaction closed.
Assume positive intent. Work from the assumption that people are good, fair and honest, and that the intent behind their actions is positive. Give your team members, clients, and co-op agents the benefit of the doubt.
Speak straight. Be clear and direct in your communications without being rude. Wherever possible use simple language. No one enjoys feeling as if they are getting the run around from you. Address issues with those who are involved or affected.
Always go the extra mile. Look for opportunities to do a little bit extra. Be willing to do whatever it takes to succeed for your clients and then add in a little bit more. Even if it is not your “job” be willing to do whatever it takes. This is what separates the average from the superstars.
Deliver results. Don’t mistake activity for achievement. While effort is always appreciated, we reward and celebrate results. Set your goals high, measure them daily, and hold yourself accountable for achieving those results.
Don’t overpromise and then underdeliver. Simply put: honor your commitments and always over-deliver. Realistic expectations are best! Don’t back yourself into a corner. Leave wiggle room!
Pay attention to the details. Be a fanatic about accuracy and precision. Pay attention to contract timelines. From the spelling of the client’s name to the details of a contract: cover all details large and small.
Find a way. Respond to every situation looking for how we can do it, rather than explaining why it can’t be done. Make things happen for your clients and your peers. Be resourceful, show initiative and stay solution-minded.
Be above it. Don’t allow your personal feelings to get in the way of the mission of providing unprecedented client experience. Don’t let others steal your joy. Stay “above it.” Your job is not to take on the pain of others, it’s to help ease it.
No excuses. Take extreme ownership. MSRE team members own their actions: wins and loses. We don’t point fingers or blame others--we take action.
Treat everyone with empathy and kindness. You will never be able to walk in someone else’s shoes. Don’t judge. You don’t know what they have been through or what they are going through. Be kind to one another.
stop watching 24-hour news. delete Facebook. read more books.
24-hour news: created to sell ads. always “breaking news.” no content or substance. drives divisiveness in the culture. creates a “reaction” culture amongst politicians and public leaders.
facebook: toxic. waste of time. only worthwhile as an over-engineered birthday reminder app. drives divisiveness in the culture.
books: opportunity to continue learning. study human behavior. creates empathy for others. learn history and avoid the mistakes of the past.
Jim Jarmusch and Tom Waits. Watch their excellent movie Down By Law.
James Sasson, MSRE’s Performance Coach, gave me a copy of Ryan Holiday’s and Stephen Hanselman’s excellent daily read, the Daily Stoic, for Christmas. I had been meaning to pick it up so I was so thankful James thought of me.
I can’t recommend picking up a copy enough! The book is essentially a page a day through the whole calendar year with simple takeaways and quotes from Stoic philosophy.
Today’s really jumped our for me.
thought for today: the more “busy” you are at work, the more reactive you are. slow down and think—will this task move the “dial” or am I just moving “paper” around.
A Storm of Swords - George RR Martin
Trailblazer: The Power of Business as the Greatest Platform for Change - Marc Benioff
Scaling Up - Verne Harnish
Break Barriers - Bishoy Tadros
The Outsider - Stephen King
Mr. Mercedes - Stephen King
Finders Keepers - Stephen King
End of Watch - Stephen King
What it Takes: Lessons in the Pursuit of Excellence - Stephen A Schwarzman
The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Corp - Robert Iger
The Coffee Bean: A Simple Lesson to Create a Positive Change - Jon Gordon
A Gentleman in Moscow - Amor Towles
Broken - Don Winslow
The Obstacle is the Way - Ryan Holiday
Growth IQ: Get Smarter About the Choices That Will Make or Break Your Business - Tiffani Bova
Ego is the Enemy - Ryan Holiday
The Hot Zone: The Terrifying True Story of the Origins of the Ebola Virus - Richard Preston
Talking to Strangers: What We Should Know About the People We Don’t Know - Malcolm Gladwell
The Comedians - Graham Greene
Stillness is the Key - Ryan Holiday
The Infinite Game - Simon Sinek
How to Be an Antiracist - Ibram X Kendi
Everything is Fucked - Mark Manson
The Down Days - Ilze Hugo
The Great Influenza: The Story of the Deadliest Pandemic in History - John M Barry
The Dawn Patrol - Don Winslow
The Mist - Stephen King
The Enemy - Lee Childs
Heartbreaking Work of Staggering Genius - Dave Eggers
Human + Machine: Reimagining Work in the Age of AI - Paul R Daugherty
The Gentlemen’s Hour - Don Winslow
Breath: The New Science of a Lost Art - James Nestor
Plum Island - Nelson DeMille
The Death and Life of Bobby Z - Don Winslow
Pre-Suasion: A Revolutionary Way to Influence and Persuade - Robert B Cialdini
The Kite Runner - Khaled Hosseini
My Bondage and My Freedom - Frederick Douglass
Dare to Lead - Brene Brown
Coaching for Performance - John Whitmore
The Gold Coast - Nelson DeMille
Conspiracy - Ryan Holiday
Underworld - Don DeLillo
Just Mercy: A Story of Justice and Redemption - Bryan Stevenson
The Grapes of Wrath - John Steinbeck
Man’s Search for Meaning - Viktor E Frankl
Tripwire - Lee Child
The Lion’s Game - Nelson DeMille
Night Fall - Nelson DeMille
Turning Pro: Tap Your Inner Power and Create Your Life’s Work - Steven Pressfield
Running Blind - Lee Child
Intensity - Dean Koontz
Wild Fire - Nelson DeMille
Do you know the easiest way to tell if a restaurant is poorly managed? Or, to say it another way, if a restaurant has the potential to make you sick? Check to see if the salt and pepper shakers are half empty. Another tell is if the menus are sticky and dirty. Why do I bring this up? Because details matter! If a restaurant manager can't be bothered to check the details on the front of the house (where customers sit and interact with their business) then I can bet you they aren't minding the details back of the house (where your food is cooked!)
In the real estate business, there are a lot of "details" to manage. Contract deadlines and timelines, inspection reports to sift through, contracts to review and explain to clients, etc. But what about the "people" details? Are we checking those boxes? What makes or breaks a great business are usually the seemingly insignificant details.
Are you remembering to...
Smile!
Say please and thank you.
Send follow up emails--review what was discussed and what the next steps are. Send a quick thank you email after each meeting (first one being the most important!)
Send a handwritten note thanking the client for their business.
Follow through on your promises--under promise and over deliver!
Return calls promptly.
Print out a professional CMA.
Show up on time!
Details promise professionalism! Handling the small details will inspire confidence in your clients that you prepared and ready to handle the more important, larger details.
What do cupholders have to do with anything? A few years ago after my dad passed away, my Mom offered to sell me his Audi A6 for a screaming deal. I test drove the car and the first thing I noticed was the cupholders could just about hold a 12oz can and that was it. I always have a Yeti or big water bottle with me and there was simply no place to put it. For that reason, I turned down the generous offer. As soon as the appeal of a newer, fun, fast car wore off I would be stuck with a car that didn't solve for a very basic need. Audi forgot to consider the end user. In an effort to create a sleek, well-engineered design, they neglected the consumer. What needs of your client are you neglecting? As practitioners, we often can forget that our clients don't do this every day. Is there a basic need that a client may have that you are forgetting about? Did you thoroughly explain the terms of the contract? Walk them through expectations around inspections, appraisals, and the closing? Let's always remember that we are here to serve the "end user," the client. As Robin Sharma says, "The purpose of work is to help people. The other rewards are inevitable by-products of this singular focus."
"Leaders Without Titles talk about ideas versus people, and dreams versus others." - Robin Sharma
I was having dinner with one of my best friends a few nights ago. He was in from out of town and it had been a while since we broke bread in person (and had a beer or two!) As we were catching up that impulse to gossip started to crop up. "Have you heard what so-and-so is up to?" That kind of talk.
Later that night, I thought more about that impulse. From an evolutionary standpoint, humans are predisposed to gossip. Thousands of years ago gossip around those who were not carrying their weight could be a matter between life and death. Fast forward to today, and the move to gossip is still alive and well.
But what about when gossip goes to a dark place? Are we protecting the group or are we simply being unkind? Looking back at that dinner I mentioned earlier, the conversation had moved to an ugly place. As a father of three children in the age range of 14 to 4, I see daily how destructive negative talk and gossip can be.
In light of this, I am challenging myself to stay away from negative talk about other people, personally and professionaly. It doesn't serve any purpose.
I would like to challenge everyone on the team to do the same. If you find yourself in a conversation that feels mean or unkind, slow down and really ask yourself, is this conversation helping me and my team reach their goals? If the answer is no, take a step back.
The coach I work with made this point to me a few months back and it really stuck with me: when someone demonstrates behavior that frustrates or annoys you, keep in mind that that very behavior is causing that person ten times the pain it is causing you.
When someone has ugly behavior or is mean, it is usually coming from a place of trauma somewhere in their life. It is not to say, it excuses their behavior but certainly, we can be the bigger person and have empathy and meet them with kindness.
The world would be a better place if everyone just took time to be kind to one another.
"I told you once and I told you twice
why be mean, when you can be nice
come on, be kind to me"
As leaders we often overcomplicate goal setting. Challenge yourself to distill your goals down to a one page plan. My approach is to start with the one Wildly Important Goal and then drill down to three priorities that would have to happen to reach that goal. From there, I take a SMART goal approach with five strategies to make those priorities happen. For me in 2018, it looks like Sales, Client Experience and Expansion as my priorities. Remember to keep is simple but focused. With the simplicity of this approach, you will find it is much easier to break the strategies into daily activities that feed the overall Wildly Important Goal.
If you don't know the personal goals for the people in your organization, you will never get the most out of them. Only when human's are in alignment and meeting their personal goals are they happy, and therefore most productive. Michael Kelly's incredible book The Dream Manager gives practical tools in an easy to understand format. I can't recommend more highly.
As you set business goals with your employees for 2018 make sure to leverage this approach for personal and professional goals: have the employee complete 60 day, one year, three year and someday goals. Then focus on personal goals and back those into their business goals. In other words, if an employee would like to make a downpayment on a home, find out what amount of money they would need and then show them the activities that will lead to that income and then hold them accountable.