Category: Principals

michaelsheargold, success, real estate coaching, training, leadership strategies
Apr
15

The Success Formula – a simple solution to create lasting success

Understanding what creates success is vital in today’s fast-moving, competitive environment. But leaders are often inundated with so many strategies and theories that guarantee “success” that the very thought can be paralysing.

The success formula is a refreshing concept in that it is a simple yet highly effective formula that can be implemented easily (and quickly) in order to have a more lucrative, productive and fulfilling business.

This is the formula in its basic form:

Success = Mindset + Skillset + Strategies + Energy

Mindset – Your mindset is the ultimate predictor of success. Unless you have belief in yourself the level of success you are capable of will never be achieved.


Skillset – When you achieve the right combination of mindset and skill set the results can be fierce.


Strategies – It’s not enough just to know the strategies that will take you to the next level you must adopt them. Ask yourself: How are you building your business? How are you growing your business? What strategies have you put in place to achieve that?


Energy – This is the #1 thing people buy. You need to bring 150% of yourself to the table in all your dealings. Find that thing that enables you to bring you’re a-game to the table.

 

The success formula is an ideal framework for those committed to transformational results.  

It works as a snapshot to see where opportunities lie and provides a practical way to make the changes needed that will cascade down in to great success.

For more information about how you can implement the Success Formula in to your business please contact the team on 1300 273 785.


Momentum pulse check - are you moving in the right direction, michael sheargold, leadership, real estate
Apr
09

Momentum Pulse Check – are you moving in the right direction?

The word “momentum” conquers up a vision of success, of winning, of moving forward. It is particularly important in business. When you experience momentum in your business, you seem to accomplish much more – your team is motivated, your customers are happy and the results will speak for themselves.

How do you know if your business is experiencing healthy momentum?

There are five key questions that can help you identify whether or not your business is experiencing a level of healthy momentum. How well you can answer these questions will be the underlying indicator of success:

 

1)     How effectively are you bringing your best self to work?

Like everyone, your work performance can be affected by external influences – family, friends, partners, life in general!  

Best to quarantine those influences and come to the field bringing your best self. This is particularly important as a leader because your team will look to you for guidance on the general business and team energy.

An acronym for CEO is Chief Energy Officer so quickly check in with yourself and think back over the last few weeks – have you been bringing your best self to work?

 

2)     How well have you mastered your routines?

Routines bring results! When something works, share it, document it, create a system around it and implement it. Look back over the strategies which have created the best results for your business and team over the last 12 months and turn them into habits asap!

 

3)     How effective is your leadership?

Every single person in the business needs to take ownership of their leadership. What are you doing to enhance your leadership and set you apart? 

 

4)     Are you fully embracing client experience (CX)?

CX is the new differentiator and the currency which will keep your business relevant. You need to be outperforming all service providers in your market (and you can aim to outperform not just those in your industry). To read more about CX click here.

 

5)     How well are you looking after you?

Are you eating right? Sleeping right? Relaxing right? You can be a much stronger leader if you feel strong and healthy. If you are feeling stressed and overwhelmed chances are it’s affecting your performance and results. Find your healthy mix and nail it.

These five questions, together with our success formula will give you the Momentum Pulse Check you need and your ultimate framework for success.

To find out more contact the team on 1300 273 785.


How do I start coaching my team to get better results?
Oct
11

How do I start coaching my team to get better results?

You’re a leader wanting to coach your team more effectively – awesome – now what?

Coaching will take your team from where they are now to where they want to be…

Read that again: where they want to be.

You see, coaching is about bringing out the best in others and helping them step closer towards their ultimate goals.

In terms of coaching your team as a real estate principal, you ideally want your team’s goals to align with your goals: to help more clients achieve their real estate goals and buy and sell more real estate.

Which means: more revenue for your team and for you.

Say you want to coach a new recruit on your team.

They’re eager and you can see potential in them to become a sales star and a true leader in your business.

The first step to establishing a coaching relationship with your new recruit is to get to know them…

Understand their motivations, their personal goals, their family situation, their core beliefs, what drives them – also – understand why they are passionate about real estate.

Take the time to learn how they think and what their current reality looks like.  

Check in to see if they are they holding onto any limiting beliefs like: “I will never be a top agent”, “I won’t ever earn a million dollars” and “I’m not cut out to lead a team”.  

All of these factors are invaluable when you step into a Coaching mode with your recruit.

You will be able to have more powerful conversations and give more targeted advice and coaching because you understand what they need from you to be able to step into their next phase of real estate mastery.

Most importantly, you will be able to create a compelling future vision together based on all the information you have – and this forms a powerful tool in your coaching process.

How do I start coaching my team to get better results?

Here’s some dialogue to get you started with helping your new recruit create a compelling future:

“The best way to predict the future is to create it, design it, plan it and set the goal. So let’s start by planning the future you want to see.”

Then you can ask some questions to help create that vision:

  • What’s going to make the biggest difference to your life?
  • What are the biggest upgrades you want to see?
  • Ideally, how would you like your business/life/relationships to look?


Once you have created this future vision and gained their commitment to trying to achieve that future, then you can get to work on building the action plan and working towards accountability.

This is the time for you step into your coaching zone and really be present for your team.

Remember: Helping people get to where they want to be is the fastest way to get where you want to be.

For more coaching success strategies I’d love for you to join me at Coach the Coach my upcoming, ultimate empowerment program. Check it out here.


How do I hold my team accountable?
Oct
04

How do I hold my team accountable?

It’s a polarising word: Accountability.

Some agents love being held accountable because they know it drives them to achieve more.

Some agents loathe accountability because they feel they need to be organised and planned and structured to truly be accountable.

As a Coach here’s the biggest lesson I can share around accountability:

You cannot hold someone accountable for something they’re not committed to!

Which is why the initial phases of establishing a coaching relationship with a person on your team is so important.

During these initial phases, you start to:

  • Understand what drives and motivates someone
  • Understand why someone is passionate about real estate
  • Understand what is holding someone back from success

When you can get a clear understanding of these matters from each person you are coaching you help them to create a compelling future and then commit to it.

Only when you have this commitment can you move into the accountability zone with them.

Here are some tips around accountability:

  • People don’t want accountability
  • People need accountability
  • You must ask permission for accountability
  • You create an agreement for accountability with your client
  • Reward when your client is performing
  • Non-reward they are not performing

How do I hold my team accountable?

 

When you’re struggling to gain accountability with a team member you’re coaching you can ask this question: 

“What’s going to need to happen for us to not have this conversation again?”

Also, remember your own accountability in the relationship. And what I mean by that is..

If you’ve committed to a meeting, turn up.
If you’ve committed to a coaching relationship: be present.
If you’ve asked them for something, acknowledge when you receive it and give feedback plus next steps.

Remember: Coaching is a two-way street.

When you step into a new level of coaching mastery you can empower your team to also up their game. Together you can create the results you want to achieve and see your team and your business thrive.

For more coaching success strategies I’d love for you to join me at Coach the Coach, ultimate empowerment program. Check it out here.


michael-sheargold-real-estate-training-australia-the-best-meetings-to-regularly-need-in-your-agency
May
09

The 3 Important Meetings Your Team and Agency Needs

One of the best ways to plan for your results and plan for your success is to actually spend time working ON your business.

You can do this through “ON MEETINGS”. In this article, I want to take you through the best ON MEETINGS to have with your team and the difference between ON MEETINGS and IN MEETINGS.

Special note: you are in a perfect position now to structure your next 6 months. Once you’ve read through this article, straight away go and set these meetings in your calendar.

What is an “ON MEETING”?

An “ON MEETING” is a meeting where you as the leader and your team together are focused ON the business direction and goals.

The 3 most important ON MEETINGS

  1. An example of this is your annual strategy meeting. Depending on the structure of your business this can be a 1 – 2 day meeting and it’s the time to plan the next 12 months of the business. A good base to start with is a review of the last 12 months and a preview of what is coming up for the next 12 months. It’s about bigger picture business items and not about any small team issues or clients issues (that comes later).

    Now if you skipped or missed your annual strategy meeting in December – now is the perfect time to schedule one!michael-sheargold-real-estate-training-australia-the-3-important-meetings-your-team-and-agency-needs-3
  2. So after your annual strategy meeting, you have a plan for the year – which you can break down into quarterly goals. You then set in the diary quarterly team meetings that must occur each 12 weeks.

    Big tip there: set it in the diary – these are progress and momentum meetings.

    At these quarterly team meetings, you can talk about the themes for each quarter, the training schedule for the next quarter, culture, key events, community events; things like that. These are a half-day meeting and it’s really fast tempo and high energy.
    michael-sheargold-real-estate-training-australia-the-3-important-meetings-your-team-and-agency-needs-4

  3. Also each quarter, you can also have a meeting with each individual team members. These are the meetings where you can find out where they’re at, what they need, where they’re heading. You can leverage your time here by empowering your sales manager or another senior team member or leader in your business to help you out here if you have a massive team.

    So this meeting is a team member strategy, not a business strategy; think of it as a GPS meeting: Goals, Plans, Support.michael-sheargold-real-estate-training-australia-the-best-meetings-to-regularly-need-in-your-agency-2

 

There you have the 3 most important ON MEETINGS: annual strategy, quarterly team meetings and quarterly team member meetings. They are so important to your business; if you have not yet scheduled these and implemented them into your business please do it now! 

Word of wisdom for ON MEETINGS

It’s uncommon to have an excellent strategy session in the office. Take it off site and change the energy! Why? It’s a mindset shift. Take the team out of the office and they can focus more on the big picture without being ‘in’ the office. Also, you can organise the half-day quarterly meetings in the afternoon and then have a team dinner or bbq or drinks with the team after the meeting. If your team is travelling for the quarterly meetings then add some training and learning into the day (then it can become more of a full day as opposed to a half day) the key is to be flexible with your team and find what works for you.

The Difference between an ON MEETING and an IN MEETING

An “IN MEETING” is a meeting where you and your team are focused on what’s really happening on a day to day basis in the business. So, your weekly and monthly team meetings.

These meetings are where the nuts and bolts of what is going on in the fast-paced environment of the team can be discussed. You can review what coming up for the week as an agency, what the team has coming up, what events or competitions you’re running that month, sales results, client issues and any big wins.

Your  “IN MEETINGS” are just as important as your “ON MEETINGS” to help your team stay on track as they have a format and a structure where the team feels empowered and comfortable.

Your  “IN” the business will take all the time it gives you which is why you need to schedule time working “ON” your business. It’s amazing how much you realise you need the “ON” time when you take the time to do it! Get to it and post any questions or feedback you have in the comments below.


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.