Category: Events

michael-sheargold-real estate-coaching-training
Nov
09

The Power of Coaching

The power of coaching has been recognised by leaders and organisations alike as an effective way to develop people and add to bottom line business performance. In fact, a recent study of Fortune 1000 companies using coaching as a development tool reported a range of benefits from increases in productivity, to higher levels of customer service and staff retention.


Essentially business coaching has made the shift from fad to fundamental. As a business leader, it is important that you are prepared for this shift and that you have the skill set needed to effectively coach and develop your team.

Strategies to create an effective coaching relationship

All clients (employees) bring with them a different set of challenges and opportunities so it is important to remember you can’t adopt a ‘one size fits all’ coaching model. That said, there are a number of strategies that underline any effective coaching relationship. These include:

  • Rapport: there must be good rapport between coach and client.
  • Permission: you need to ask and be granted permission to coach a client, essentially creating an agreement between parties.
  • Honesty: there has to be an understanding that you both can work in a place of 100% honesty.
  • Confidentiality: this is assumed but occasionally it is a good idea to reinforce that everything discussed is confidential.
  • Resetting: if to date the coaching relationship hasn’t been ideal, you need to reset the relationship. What have you both learnt from what you’ve done and what can you do differently?
  • Apology: you don’t necessarily have to be wrong to say you’re sorry! In some cases you might apologise because you haven’t been coaching in a way that would make a difference to your client’s growth.  
  • The coaching space: ensure where you coach is the ideal coaching space. Go somewhere where you can focus and not get interrupted. The appropriate coaching space will differ for every client.
  • The best way to work together: have a brainstorm about the best way to work together and commit to that.
  • Frequency: how often will you meet? Make time to meet this commitment.

Understanding the career cycle
For any coaching relationship to be effective, the coach needs to understand why they are coaching and what specific strategies need to be applied. The conversations and strategies will differ depending on the clients’ career cycle. Career cycles can be categorised into three areas:

  1.     Performers:
  • Are well and truly in momentum and know what they need to do
  • Monthly coffee catch up is likely all that is required
  • Conversation needs to be driven from “you are better than that” and “what are you going to do next?”
  • Supercharge them to move in to that direction
  • Recognition will be based on results
  • Whilst we do tend to spend less time coaching performers, it is important to recognise that a 20% improvement in performers will give you more bang for your buck than a 20% improvement in fast starters. So you cannot afford to not have coaching techniques in place for this group.

  1.     Rising stars:
  • Know what they need to do – they need confidence and belief.
  • Fortnightly meeting
  • Conversation needs to be driven from “you can do it” and “I believe in you”.
  • When they hear that they go to another level of performance
  1.     Fast starters:
  • Typically in the first two years of the job
  • Weekly meeting – more regimented in office
  • Conversation needs to be driven from “are you on track?”
  • Recognition will be more based on activity

Business coaching is all about growth, development and achieving goals. Yes, at times it may be challenging, but knowing you are helping people create a roadmap for amazing results and success makes it well worth it!

For further information about becoming a more effective business coach contact the team on 1300 273 785.

 


michael-sheargold-real estate-coaching-training
Nov
09

Managing Personalities

As a business leader and coach you connect with a variety of people with different goals, motivations and personalities. There is no ‘one size fits all’ coaching model because of this very reason. Instead, you need to be able to tailor and adapt your coaching approach in order to meet the needs of various clients. This can be a difficult skill to master but is aided through an understanding of the four main personality profiles.

Personality profiles

Directive (D)

  •        Driving and decisive
  •        Strong willed
  •        Faced paced
  •        Bottom line results
  •        Like getting to the point

If you’re coaching someone who is a high D, they want to get in to the conversation and the specifics. No table talk. Tasks and results focused. In other words – get to the point!

Thrive on: accuracy and efficient utilisation of time and materials.

Influencer

  •        Optimistic and outgoing
  •        Very social
  •        Sharing thoughts
  •        Entertaining
  •        Entertaining others

Like Directives, influencers are interested in results.

Thrive on: results and people

Conscientious

  •        Concerned and cautious
  •        Focussed on details
  •        Plan ahead
  •        Accuracy checks
  •        Want how’s and why’s

Thrive on: process and task – quality of checklist that they need to work through on a daily basis.

Steady

  •        Sympathetic
  •        Cooperative
  •        Supportive
  •        Good listeners
  •        Like predictability

Happy to do whatever you want to do.

Thrive on: Knowing exactly what is expected of them and the rules or procedures established for accomplishing the objectives. They like people and process.

As a business coach, it pays to invest time and energy in identifying which personality type your client fits in to. The four personality profiles are designed to help you gain greater insight in to what motivates and stimulates individuals in the workplace,  enabling you to more effectively leverage their strengths. By tailoring your coaching approach to each client, you will no doubt become a better judge of how to get the most of their talent and skills and pave the way for a more productive, efficient and motivated workforce.

For further information about how to construct more effective business coaching, please contact the team on 1300 273 785.

 


blog_160909
Sep
08

Great teams are made of extraordinary people

Why a happy team is essential for a successful real estate agency

When it comes to your real estate agency team, a great saying to remember from Real Estate Leadership expert Megan Jaffe (Ray White’s #1 office in the world) is this:

“A good business contains great people, but a great business is created by extraordinary people”.

The business of selling houses attracts like personalities. During my years in this industry, I’ve found that at its best this can make for an enthusiastic, dynamic group within an agency. These are the agencies that really fly. At worst, there can be clashes between people who are vying for the same results in a commission-based field.

In any agency, whether it’s a small family owned venture, a franchise outlet or a boutique brand, you need a team that works well together in order to be successful. A happy working environment allows people to focus directly on their work. It can be challenging for an agency principal to establish the right agency culture, but it’s by no means impossible.

Over the years, I’ve noticed 4 key tactics that successful real estate principals and directors use to build and cultivate a successful team:

1. Hire With Care

When recruiting a new agent, don’t base your decisions entirely on merit. Evaluate any candidate’s attitude and ask detailed questions about their philosophy towards selling property in order to ascertain whether or not they will be a good fit.

Consider consulting with the other members of your team, including other agents and the business managers who will be working closely with them. They can give you their opinion on whether they believe the person will meet expectations while adhering to your agency’s values.

2. Get Together Regularly

I know all too well how easy it is to get caught up in your daily tasks. But holding regular meetings allows your team to share ideas, celebrate wins and reconnect with each other as colleagues – and as people.

Schedule a weekly, fortnightly or monthly catch up and make it casual by holding it in a local coffee shop. As well as talking about business, have discussions to refine your company mandate and encourage contribution from everyone on your team.

Don’t forget – not all gatherings have to be about work. Organising quarterly or biannual drinks allows everyone to relax and connect with each other off the clock.

3. Define Roles

There can often be overlap in the tasks for people around the office in a real estate agency, which is why it really helps to clearly define each person’s role in writing. Eliminating the confusion around who does what means that everyone understands what is expected of them and will be able to get through tasks quickly and efficiently.

For agents, you may find that to prevent them from competing with each other to win listings, there needs to be a strategy for dividing work by area or demographic.

4. Lead By Example

To foster a group that works together, is supportive and that celebrates each other’s’ successes, you have to present yourself as enthusiastic and every bit the team player. Focus on communication and display respect for everyone you come into contact with on a daily basis, regardless of their position on the team.

Transactional or relationship based? What kind of business do you want yours to be?

Learn how you can create your business to be more successful, enjoyable and impactful at Principal BootCamp.


Aug
30

Why leadership is your ultimate competitive edge

Are you only pushing for results, or are you leading your team to success?

One of my favourite quotes is “Your business will never out-perform your leadership.” This is always true in real estate, where a strong crew is universally the result of having the right person steering the ship.

I’ve seen more than my fair share of agencies during my two decades working with real estate leaders. Along the way, I’ve taken in exactly what those performing at an exceptional level are doing. I’ve also been able to review the flaws within the businesses that are struggling to remain relevant.

When I reflect on what I’ve seen over the years, it’s fair to say that the quality and consistency of leadership really is, is the deciding factor in whether or not your agency has the edge. This is because it is up to the leader to set the benchmarks for everyone to strive towards. These benchmarks are set in all areas of your agency.

As a real estate agency Principal, the overall performance of your business should always be on your radar. Here are ten questions to ask yourself that can give you an understanding of how well your business is doing.

10 Point Business Reality Check

1. Does your agency have a strong focus, with consistent vision and values?
2. How steady is your performance culture?
3. Are you effectively positioned for positive momentum in your market?
4. How good is your recruitment and how quickly do new team members hit their stride?
5. Is there a constant drive for productivity and accountability?
6. Does your team have access to training and coaching?
7. How well does your agency retain talent?
8. Do you regularly recognise and celebrate achievement?
9. Could you describe your systems and procedures as “excellent”?
10. How effective and productive are your sales and team meetings?

(Hint: if you’re a great leader, your answers should be along the lines of “Yes”, “Very well” and “Never better”)

All these points are driven (or jeopardised) by the strength of your leadership. Each area needs to be locked and loaded. Yes, it means a lot of work for you as the person in charge, but the payback can be extraordinary.

In a buoyant real estate market, it is easy for a leader to become complacent. But nobody can tell what is around the corner. Want to know how to always pip the competition to the post? Stay rock steady on the above ten points. This means you and your team will be able to deliver above average results in any market conditions.

At The Business of Real Estate, you’ll get up close and personal with some of our industry’s leading thinkers and performers. These people are the cream of the crop in their respective markets and they never lose sight of doing things better. I’ll be there throughout the two days, helping you to maximise the value of the experience and showing you how to grab the top 10 leadership habits and make them work for you. Book your place here.


SuperTeams1
Jul
02

The 7 Key Systems of SuperTeams

Here are the 7 Key Systems to have in place with your SuperTeam!

You either have in your business “a system to do it” or you have a “remember to do it” – how well do you think remembering is working out? At some stage, something will fall through the cracks! And as soon as you introduce someone other than yourself into the business, you need to introduce systems – because if you rely only on what you’re remembering, you are setting yourself up and your support person up, to fall flat.

Ask yourself this question: “Is it worth doing these things again?” If the answer is; Absolutely, then create a system for it!

If we look at the word “SYSTEM” it breaks down into:

  • Save
  • Your
  • Self
  • Time
  • Energy and Money

That’s what a system is designed to do – the purpose of any system is save yourself time, energy and money. Therefore, the question that you might ask is: “What are the key systems that we need to have in place?”

Your 7 KEY SYSTEMS with SuperTeams

  1. Generating System
  2. Pipeline Management System
  3. Listing Management System
  4. Seller Management System
  5. Buyer Management System
  6. Negotiation System
  7. Financial Management System

These are the obvious systems with a SuperTeam. If you’re investing time, energy and effort into a SuperTeam you want to make sure you’re getting excellent ROI from that team. So, if you’re a Lead Agent in a Superteam, you would have; your Client Services Manager, your sales assistant, sales support, all in place in such a way that you got every single one of these systems clearly defined and in place.

The power of an idea is in its implementation!” – Michael Sheargold

PS – If you want to know the best strategies to establish and work within a SuperTeam and you’re interested in attending my SUPERTEAMS workshop, feel free to call the team on 1300 273 875 or visit the website for more information.

 


Talking at convention
Jul
11

Are your people turned on or just turning up?

Having just finished AREC 12 on the Gold Coast with some 2500 real estate professionals from Australia and New Zealand it became obvious in the bonus principal session that some agents are just turning up and expecting a market miracle to happen!

Other real estate professionals are truly turned on to achieving great results.

Now sometimes agents say to me “I’m waiting for different/better conditions” – this clearly is a no go strategy!

The market most of you are in, you need to be in proactive mode – making it happen.

Of course I know you’re clear that real estate is the ultimate win:win:win the only time the agent wins is when the buyers and sellers win.

Great agents understand this and are “turned on” to helping people achieve their property goals.

Are you turned on? And could take it to another level today?