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Preparing for the Future – Tips to Reinvent Your Brokerage

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Industry Advisor by Jose Perez

RISMEDIA, September 16, 2010—Whether it is always verbalized or not, a common sentiment many brokers and their management teams are grappling with is the realization that they have to do something; they are just not sure what or how soon. Of course, you realize you have to reinvent. In fact, you talk about it all the time, but what are you actually doing?

LOL. That’s what I do when I hear brokers and/or managers talking about the future…yet they still haven’t figured out how to text, still don’t realize the importance of creating a social media presence for themselves and their companies, don’t think getting back to an Internet lead immediately is critical or still think that everyone should have a private office.

FYI, if you don’t think the agent of the future is looking at how you handle these things, you are fooling yourself. They are looking for the company and broker/manager that “gets it.” Do you think the agent of the future wants to work for “Mac” or “PC?” I am not talking about computers here, I am talking about the icon of what is cool and hip to today’s agents and consumers.

The sooner you are honest with yourself, the sooner you will be able to address your team.

The sooner you address your team and hold them accountable, the sooner you will start making an impact in the market and be able to truly say you are reinventing yourself.

The first change is cultural and it starts with you.

- What are you doing to reinvent yourself?
You will have zero credibility if you are not doing what you are asking the team to do.

- What are you doing to make sure your management team is reinventing itself?
How are you holding them accountable?

- What are you doing to take away whatever obstacles may be impeding change?
Are you really breaking the old paradigm or are you letting old habits die hard?

- What are you doing to change something your company embraces rather than something it ignores, or worse, runs away from?
Are you incenting people and making it fun?

It’s not going to happen overnight. Reinvention takes time, but you can break it up into manageable pieces that everyone can buy into:
-Set three- to six-month goals that will lay the foundation for what has to happen later.
-Acknowledge small victories and set the tone you want.
-Set six- to eighteen-month goals using the shorter-term goals as a jumping point.
-Stay focused and make sure you are holding your team accountable.

During any long-term project like this you have to have a rallying cry. When we started PCMS at the beginning of the recession in early 2008, some days seemed impossible, but we believed in what we were doing and knew it would pay off as it (thankfully) has. If you can’t think of one, feel free to borrow ours: Positive Attitude Hard Work Laser Focus—PAHWLF!

Jose Perez is the president of PCMS Consulting, a full service consulting, sales and management organization that specializes in real estate industry issues.

For more information, visit www.pcmsconsulting.com or e-mail jperez@pcmsconsulting.com.

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