Real Estate Technology Toolkit

by Rich Schiffer, Weichert Realtors

Many real estate agents, rookie and seasoned veteran alike, (and the consumers that we serve) will at some point in their career be invited to hire a "coach" to help them get their business on the "right track."

In the business world, coaches may have different titles:

• Consultants
• Mentors
• Advisors
• Managers (good managers know the benefit of coaching their employees

I pay for coaching from my broker, in the form a split of the commissions I earn.  I have also accepted (and often offered) much free advice.  As a REALTOR, I am regularly payed by my clients to provide advice about marketing a home.  Readers should consider this article a bit of free advice regarding what to look for in a coach (or in a REALTOR, for that matter.)

• Don't presume that a business coach knows your field, nor your specific market.
• Don't presume that just because you pay someone for advice it is any better than the free advice you might get from other professionals, for example -- on the Active Rain Real Estate Network
• Star athletes all use coaches.  The coaches don't need to be star athletes themselves, they just need to know how to bring out your best.  Not everyone who calls themselves a coach knows how to do this.

Consumers, attempting to sell their home on their own, may be told by any number of REALTORS in the area that their services will help them achieve their goal.  This is probably true.  Not many homeowners have the market knowledge, and marketing tools, and pool of potential buyers that any REALTOR might.  That is not to say that anyREALTOR is better than none.  You should look to hire a REALTOR, with the same degree of scrutiny you would use when selecting a coach for moving your athletic career to championship levels.  You don't need to pick a champion, but you do need to pick someone who can get you to your goal -- selling your home.

What what exactly does Real Estate have in common with NASCAR?  Take a look at this video, and then read on for the answer to that very question.  (If the embedded video doesn't show, click the link, below)

NASCAR Coach Reveals Winning Strategy: 'Drive Fast'

Coaching for a successful real estate career can be just as obvious as the coaching offered in the video.  Instead of "Drive Fast.  Stay on Track," the NASCAR-style coaching for your real estate career, would be:  "Sell Houses, Stay on Track."

Oh yeah, and "Don't Drive Into Walls" is always sound advice.

• This is my first blog in a while -- I have been so busy, between clients, family, and prospects, recently, that I have neglected my readership.  I apologize to those of you who have been itching for another thought-provoking post...that said, without and further ado:

Back in March, Active Rain had 21,000 Members.

Now, less than 5 months later, (August 8th to be exact), we have reached 42,000 Members.

I would like to take this opportunity not to congratulate AR, and its members for this accomplishment, nor to take any degree of credit for the growth (although I have contributed to the public awareness of AR), but instead, I want to take a moment to ask a few questions of my fellow members:

1. What would it take for you to double your business?
2. What steps are you not taking now, that if you started doing now, would result in more business?
3. What practices are you engaging in that are limiting the growth of your business?
   (Put another way, "How are you standing in your own way?)

For many of us, especially those of us who are new in our careers, doubling our business is just a start. 

I invite you to be brutally honest with yourself.  Post your responses if you like, but all I ask is that you do yourself a favor, and at least consider these questions.

Reading question #1, you might think, "I don't know!  If I knew what it would take, I would be doing it!"  While it is true that you don't know what you don't know, I am sure you know at least quantitatively what would be needed to double your business.

The immediate response to question #2 might be similar:  "I am already doing everything I can!"  Dig deeper than the immediate response.  It is highly likely that you are aware of a few things you have avoided doing that could impact your business.

If you stick it out to question #3, you might be thrown to respond with something like, "What?  I am doing what I can to grow my business!  How dare you imply I am doing anything less?"  Let's be clear.  I am not implying anything.  I am being straightforward and asserting that you are not living up to your potential.  If you were, you wouldn't be doing an exercise like this, trying to come up with a plan for doubling your business.  Capice?

The key to finding something you can take action on is the degree to which you dig deep.  Introspection, and a willingness to recognize your own weaknesses are called for.

One bit of wisdom to keep in mind as you do this excersize, is the following:

• "Whether you think you can, or you think you can't...you are right."