I was at a breakfast seesion this morning where Mike Andrews was presenting. His presentation was one of the best I have seen in regards to how we should be tackling the on-line stratgies within our businesses.
However I was suprised that more agents did not attend this session and how many were unaware or unaccepting of social networks such as Facebook, Twitter, Linked In etc.
I look forward to Mike becoming part of a conference line up so he can share his wealth of knowledge and tips on this emerging space.
Wednesday, March 25, 2009
The Global Financial Crisis & Real Estate
Just about everything is now being blamed on the GFC! (And no for those of you who are Victorians, it isn't the Geelong Football Club - however I wonder if they could blame the GFC for their grand final loss to Hawthorn)
Every time I ask a real estate agent the question "how is the market" the response I consistently get is....It's tough out there! No one is buying or selling!; I hope it doesn't get worse because it is pretty tough at the moment!.
Potentially this is exactly the response they are giving to clients and investors.
Why would I choose to list my property with an agent who is unclear, unsure and perhaps even depressed. I am more likely to go to someone who can give me clear confident responses on exactly what the market is doing, why I should sell or buy now and what they bring to the table that others don't.
Misery loves company people! Principals/Business owners start working with your sales and property management teams to improve their scripts.
Yes the market has changed however what are you doing to imporve your skill sets to work this market. The market is what it is!
Every time I ask a real estate agent the question "how is the market" the response I consistently get is....It's tough out there! No one is buying or selling!; I hope it doesn't get worse because it is pretty tough at the moment!.
Potentially this is exactly the response they are giving to clients and investors.
Why would I choose to list my property with an agent who is unclear, unsure and perhaps even depressed. I am more likely to go to someone who can give me clear confident responses on exactly what the market is doing, why I should sell or buy now and what they bring to the table that others don't.
Misery loves company people! Principals/Business owners start working with your sales and property management teams to improve their scripts.
Yes the market has changed however what are you doing to imporve your skill sets to work this market. The market is what it is!
Thursday, March 19, 2009
Learning from "young heads"
When the real estate industry, both in Australia and New Zealand, started to feel the shift in the market most agents didn't really understand what was about to happen.
A large number had never worked in a challenging market; they were coming off several years of great real estate where anyone could list and sell.
The industry started to turn to the "old heads" asking for direction, looking at ways to maintain sales, growth, income and reduce their stress levels. At the time this was the right place to "look" for direction... they had been there before and survived.
However almost 2 years down the track in NZ and about 12 months in Aust should we not be looking at "young heads" in the industry who have managed to keep their business afloat?
They understand that they need to know their numbers, manage their teams to these numbers, create great cultures and working environments, develop careers, constantly recruit, meet with their accountants, understand a balance sheet and P&L, not drive fancy cars or overspend, watch the overdraft, know every month what it will take to simply keep the doors open and constantly look at new strategies. At the same time invest in training and marketing.
I have a friend "across the ditch" (as they say) he is a young 35 year old, who opened two offices 2 years ago. He has a team of about 30 and he gets the above.
Now I am not able to predict whether his business will survive the current market but what I do know is that he would have given it his best shot.
He is currently at a conference bored....I wonder why is that we don't put a couple of young agents who have been in business in the last 2 years on a panel and simply ask them:
How have you managed to survive?
What have you learnt?
What are you doing that is different?
How do you see yourself surviving this market for the next 12 months?
What are you investing in and why?
How are you creating engaging work environments?
What are doing to recruit talent?
How do they think this downturn will change the industry?
We might be surprised at what we learn from them.
A large number had never worked in a challenging market; they were coming off several years of great real estate where anyone could list and sell.
The industry started to turn to the "old heads" asking for direction, looking at ways to maintain sales, growth, income and reduce their stress levels. At the time this was the right place to "look" for direction... they had been there before and survived.
However almost 2 years down the track in NZ and about 12 months in Aust should we not be looking at "young heads" in the industry who have managed to keep their business afloat?
They understand that they need to know their numbers, manage their teams to these numbers, create great cultures and working environments, develop careers, constantly recruit, meet with their accountants, understand a balance sheet and P&L, not drive fancy cars or overspend, watch the overdraft, know every month what it will take to simply keep the doors open and constantly look at new strategies. At the same time invest in training and marketing.
I have a friend "across the ditch" (as they say) he is a young 35 year old, who opened two offices 2 years ago. He has a team of about 30 and he gets the above.
Now I am not able to predict whether his business will survive the current market but what I do know is that he would have given it his best shot.
He is currently at a conference bored....I wonder why is that we don't put a couple of young agents who have been in business in the last 2 years on a panel and simply ask them:
How have you managed to survive?
What have you learnt?
What are you doing that is different?
How do you see yourself surviving this market for the next 12 months?
What are you investing in and why?
How are you creating engaging work environments?
What are doing to recruit talent?
How do they think this downturn will change the industry?
We might be surprised at what we learn from them.
Friday, February 20, 2009
Pregnancy is not a disease
I had an interesting conversation today with a very intelligent young girl who is very focused and driven. She finds herself pregnant (not planned)and it was interesting to hear how other women have reacted to her news. She will need to re-assess her goals, pregnancy is never easy, having kids changes your life, you will need to give up a lot, how are you going to balance your career and have a child as well, you of course will need to take 12 months off - is what she has been hearing.....WHAT HAPPENED TO HAVING IT ALL FOR GOODNESS SAKE.
Pregnancy is not a disease. I know many successful women who have had children and balance motherhood with a career, our kids have not grown horns or do poorly at school. In fact one could argue that we encourage them to be self thinking, independant and free spirited souls who are taught to be self reliant and confident from an early age. Their parents are still there as a safety net and are these qualities really that bad? And are they really any different to kids whose mums do choose to stay at home?
I respect mothers who choose to stay at home as I think they actually have a tougher job but women need to stop making each other feel guilty. We need to work as a team, stand together and support each other and understand that sometimes we do not have a choice, financially we need to go back to work, secondly some of us make better mothers when we work and play and thirdly many of use enjoy being the CEO of households... we are all equal and whatever we choose it is OK from time to time to put ourselves first.
This young girl will make a terrific mother and I look forward to the day when she has her own extremely successful business!
And she would have achieved it all her way, on her terms with no guilt and what a terrific role model she will be to other women.
Pregnancy is not a disease. I know many successful women who have had children and balance motherhood with a career, our kids have not grown horns or do poorly at school. In fact one could argue that we encourage them to be self thinking, independant and free spirited souls who are taught to be self reliant and confident from an early age. Their parents are still there as a safety net and are these qualities really that bad? And are they really any different to kids whose mums do choose to stay at home?
I respect mothers who choose to stay at home as I think they actually have a tougher job but women need to stop making each other feel guilty. We need to work as a team, stand together and support each other and understand that sometimes we do not have a choice, financially we need to go back to work, secondly some of us make better mothers when we work and play and thirdly many of use enjoy being the CEO of households... we are all equal and whatever we choose it is OK from time to time to put ourselves first.
This young girl will make a terrific mother and I look forward to the day when she has her own extremely successful business!
And she would have achieved it all her way, on her terms with no guilt and what a terrific role model she will be to other women.
Tuesday, February 3, 2009
Women in Real Estate
I got a call from a collegue the other day asking if I knew anyone who could speak at an upcoming conference. During the course of our conversation we both agreed that although it would be great to put up female speakers it was hard to find women in our industry who were not only business owners but able to speak strongly on the subject of real estate.
Yet consistently we see women out selling their male counter parts.
So why is that we dont feel the need to own businesses?
Is it lack of opportunity?
Do many of us leave to have children or need to be home at specific times for kids?
Are the hours too taxing on family and relationships?
Does our industry need to change and review areas like flexible work places, job sharing, part time work etc to encourage or attract more women back into real estate?
Would love to hear your thoughts on this issue and if anyone has seen a strong female real estate speaker please let me know
Yet consistently we see women out selling their male counter parts.
So why is that we dont feel the need to own businesses?
Is it lack of opportunity?
Do many of us leave to have children or need to be home at specific times for kids?
Are the hours too taxing on family and relationships?
Does our industry need to change and review areas like flexible work places, job sharing, part time work etc to encourage or attract more women back into real estate?
Would love to hear your thoughts on this issue and if anyone has seen a strong female real estate speaker please let me know
The Migration Across the Ditch
I have a number of clients in New Zealand and their biggest issue is finding good people. It is not helped by the fact that most Kiwis are coming across to Australia to work.... I was having a facial last week and my therapist and 4 of her friends decided at New Year to come out to Australia to seek better opportunities. They all got jobs within a week of arriving and have no intention of going back....
This migration raises a number of issues in New Zealand and Australia
How is the current brain drain going to impact NZ long term?
Are the Kiwis taking over our jobs and in the current economic climate is this right?
Are there opportunities in NZ that Australians could potentially take up?
Certainly as far as real estate goes now is the time to buy in NZ and the rental return on investments is still great.
Time will tell I guess....
Sadhana
This migration raises a number of issues in New Zealand and Australia
How is the current brain drain going to impact NZ long term?
Are the Kiwis taking over our jobs and in the current economic climate is this right?
Are there opportunities in NZ that Australians could potentially take up?
Certainly as far as real estate goes now is the time to buy in NZ and the rental return on investments is still great.
Time will tell I guess....
Sadhana
Tribes
I am reading the latest book by Seth Godin called Tribes - We Need You to Lead Us... interesting book and concepts on leadership.
However whilst I was reading it I was struck by the realisation that currently many of our leaders and managers have not managed or lead people when there is a down turn in the economy.
Leadership today requires a lot of resilience as not only are you trying to manage your business through some tough times but your people are looking at your for support, confidence and security.
How are you managing your people?
However whilst I was reading it I was struck by the realisation that currently many of our leaders and managers have not managed or lead people when there is a down turn in the economy.
Leadership today requires a lot of resilience as not only are you trying to manage your business through some tough times but your people are looking at your for support, confidence and security.
How are you managing your people?
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