So Much to Learn!
So Much to Learn!
Make your professional development a priority, especially during a time when there’s so much change in the real estate industry. The REALTORS® Conference includes more than 150 educational sessions and in-depth workshops that will help you ramp up for opportunities in the year ahead.
Economic Issues & Residential Real Estate Business Trends Forum
Friday, Nov. 13 I 8:30am – 10:30am
Demographics Will Boost the Market
John Tuccillo is a real estate economist who operates John Tucillo & Associates Inc., a consulting firm specializing in strategic and business planning. He’s also the former chief economist for the NATIONAL ASSOCIATION OF REALTORS®. Tucillo will be presenting with NAR Chief Economist Lawrence Yun and real estate consultant Jim Sherry.
Lately, you’ve been looking at generational change and how it’s affecting the way real estate is practiced. What I see is that most brokers today still have their business set up with baby boomers in mind. When you’ve been working in a certain way for 20 years, it’s hard to get your head around doing business in a new way. Text messaging is one example. Brokers need to be asking clients, "How do you want me to communicate with you?" rather than expecting clients to adapt to their method.
We’re certainly seeing a lot of practitioners using social media to communicate with clients and each other. Some people are using social media effectively. But others are leaping into social media before looking. They have to go back to the basics and ask themselves, "How do these tools relate to what I’m doing? How do they further my business plan?"
We’ve had good news in real estate sales over the past four or five months. Do you see sales continuing to pick up, or is this a temporary pickup resulting from the first-time home buyer tax credit? The tax credit is certainly helping, but it’s not the whole story. We have a generation coming of age—Generation Y—that’s bigger than the baby boom. We’ll see a surge in sales, but it’ll be a little different from the one we saw when the baby boomers came of age. Generation Y buyers will be looking to minimize the use of their automobile. That doesn’t have to mean a big city. It could be a place with good mass transportation or a place where they can get around by bike or on foot.
What’s it going to take to improve the job picture in the United States? The surge of the 1990s made a lot of jobs redundant, but we didn’t shed jobs at that time. That’s making this recovery difficult. When the economy picks up, we’ll see new jobs in retail and health care. But for real job growth, we need to go back to inventing new industries, and I think it’s going to have to be in the green area. Generation Y is an environmentally conscious generation and an entrepreneurial generation, so we have reason for optimism.
Seven Changes Managers Must Make
Friday, Nov. 13 I 2:30pm – 4pm
'Decruiting' Can Help Bottom Line
David Knox, of David Knox Productions Inc. in Minneapolis, is a real estate trainer and speaker who specializes in practical business and sales strategies that increase productivity.
What advice do you give managers for boosting agents’ productivity? Selling’s a skill that can be learned—and the skills are no different today than in any market. Obviously, salespeople start out with meeting a prospect. From that initial meeting, we teach salespeople to focus on rapport, trust, need, benefits, and then the close.
A lot of practitioners have a difficult time moving from that initial meeting into making a business overture. What do you recommend? It gets down to feedback sensitivity. Obviously, you’re not going to be standing over a casket and asking the widow if she’s ready to downsize—but a lot of salespeople make that mistake in less extreme circumstances. If you’re involved with a charity, for example, see how long you can go before others find out you’re in real estate. Let them find out what a good person you are and what a dedicated volunteer you are, and eventually they’ll learn what you do. The same goes for social media. Facebook is an online cocktail party. If you’re using it just to promote yourself or your listings, people will quickly find someone else to associate with at the party.
Your conference session is about changes that managers need to make now. Give us a taste of what you’ll be talking about. The first thing is "decruiting" salespeople. This is not the time to keep people on board who aren’t good at selling real estate. Let them go. Then, train those you keep—and the only way to do that effectively is through role-playing. We use a "model, practice, feedback" approach. Model the behavior, let the salesperson practice the behavior, and provide feedback. Finally, we’re still in a world in which associates are making all of the money and brokers are taking all of the risk. Brokers need to do something to change that if they want to stay in business.
Conference Hot Topics
Generating Leads for Commercial Real Estate Transactions
Friday, Nov. 13 I 8:30am – 10am
Build a marketing database and generate dozens of high-quality referrals every month. Attendees receive a list of lead generation methods, scripts, and templates to put techniques into practice.
Times Are Changin’…Are You Able, Willing, and Ready?
Friday, Nov. 13 10:30am – Noon PART 1
Saturday, Nov. 14 11am – 1pm PART 2
Learn the steps for creating and managing change and the skills that are essential for success in any market. Attendees will take home the tools necessary for creating, implementing, and managing changes.
"The real estate business has more to do with people than it does with product. Your role should be to help people make decisions for themselves that are in their best interest. You can only fulfill that role if you develop a strategy for determining dominant motivations."
Presenter: Edward D. Hatch, CRB, CRS®
Managing the Risks and Opportunities of the New Home Valuation Code of Conduct (HVCC)
Friday, Nov. 13 I 12:30pm – 2:30pm
Join industry leaders, regulatory experts, and real estate professionals to discuss how the Home Valuation Code of Conduct is affecting home sales and financing.
Another View: Short Sales from the Buyer’s Perspective
Sunday, Nov. 15 I 9am – 10:30am
Demonstrate your knowledge of this often-complicated transaction by creating a buyer counseling session and identifying situations that could interfere with the closing.
"When we examine why many short sales transactions don’t close, we often find that buyer representatives have no idea how to prepare their buyer or write a contract that is even likely to close."
Presenter: Lynn Madison, ABR®, ABRM
Expanding Your Sphere of Influence: Real World Networking
Sunday, Nov. 15 I 3:30pm – 5pm
Your online social networking efforts will be far more effective if you integrate them into your offline world.
"Use your blog to address the frequently asked questions that people in your target market have. People will find you online while looking for answers."
Presenter: Mariana Wagner
Green Gnome for a Day: Marketing Workshop
Monday, Nov. 16 I 11am – Noon
In this interactive session, participants will brainstorm ways to help potential buyers understand the value of buying an eco-friendly property.
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