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.