Updated: Jul 15, 2021
Oftentimes agents entering the real estate arena come from salaried or hourly positions and struggle with the entire process of being self employed. Being self employed means you own a business. Even if that business is just YOU.
When you are in a salaried position there is always someone to hold you accountable, someone who sets goals and tasks for you. You simply showed up and did the task and at the end of the week you received a paycheck.
In real estate there is not that person. There is nobody but you. Your broker and franchise are not that person, their job is to give you a platform to perform and make sure you have some level of tools to do your job.
Agents that thrive in this business realize this and they execute on the management level of their business. This level is responsible for Understanding the needs of the organization and making a Plan to achieve them. They also track the goals and activities to ensure that you are staying on track. The manager creates action plans that should be broken down to daily activities.
The activities are given to you the agent to execute, put into Action. Then you must have the Discipline to do the tasks and track them as well. This creates Accountability back to the management level, which is the missing piece. Agents who do this win. Are you doing this?
See in the end it is YOU that are responsible for YOUR business and nobody else. Once you make this connection and start to implement then you will start to grow. Don’t get me wrong, you can have some dumb founded luck by not following this but to sustain longevity you must execute as a business.
I created the UPAD Principles of Success. UPAD stands for Understanding, Planning, Action and Discipline. When you follow these steps you will not only set a four nation for growth, you will build sustainability because you are aware of the next 90,120. 200 days and will be working towards them.
Failure to plan is planning to fail and if you don’t have a plan, a map, a GPS then just like the Cheshire Cat says, If you don’t know where you are going, any road will get you there.
Where are you going?
What is your plan?
How are you going to get there?
As I was building More GCI everything relied on ME. I had nobody I could rely on. Being the captain of the ship there was nobody above me. There was nobody to pick up the slack. 100% of the vision was mine and I needed to do everything I needed to do to continue moving forward. Co-Founders disappeared or were abducted by aliens. Weekends, nights, days 100 hours a week, I was the only one who showed up every single moment.
Writing blogs, social and digital work, dealing with issues and accounts. Everything.
Same thing in real estate….
When I had my big team and was doing hundreds of REO’s per year it was the same thing. I was the one working 80 hours per week. One day I received a call from an asset manager stating reports were late. Ironically I hired someone for that. On this day in particular I texted that person to say “Where are you?”, but received no response. Only to go on Facebook and see she was at the beach. So I realized it is all on me. I did the reports and then removed her access. When she got in the next day all her stuff was packed.
I did not do this to her, she did it to herself. But I had the power to change it and I realized, this is my ship and I am the captain. EVERYTHING falls on my shoulders. The team was not a priority to her like it was me.
You must embrace the Power of YOU. YOU is a funny thing. We often equate YOU with our individual self. But when you start to think of the Power of YOU like this
Y. Your Big Why
O. Organization of goals and plans
U. Utilization of Systems, People and Tools to reach your goal.
Things dramatically change. I urge you to put in place a structure that follows the Power of YOU so that YOU the self can have a clear vision of what needs to happen every day to reach the overall vision of Your company.
I organized everything down to a few KPI’s Key Performance Indicators and focused on those goals. I put automation in place wherever I could. This reduced the need for human interaction. I leveraged all my time and focused only on HIGH YIELD activities during the day and LOW YIELD activities in the evening.
Never forget that you are the CEO of your company and it is up to you to provide the vision and path to reach your goals. Nobody else is going to do it for you. Nobody. People are going to check out and you will not be their priority. Understand that and be ready for it.
One can argue that I did not have the right people I partnered with or hired and you would be right or that you did not build the right culture. But sometimes when we are going so fast and we are unsure of ourselves we fall into a trap which Michael Gerber warns us about in his book the E-Myth.
I hired by abdication and not delegation. Do not hire someone when you are so busy that you just want someone to fill that spot. Take the time to interview them, get referrals, do a DISC assessment. Before that point, have a policy and procedures manual drafted so you can hand it to them and say “This is the procedure for X,Y,Z and the expectations and recourse.”
Be a good CEO and understand your business, plan your business and be responsible for your business because in the end, it is your name and not theirs.
Till next time,
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