There's a New Kid in Town

"They will never forget you 'til somebody newthis, if you were opening a restaurant, would you
comes along. Where you been lately? There's a newplan to be the chef, the host, the busboy, the
kid in town. Everybody loves him, don't they? Nowwaiter? Of course not.
he's holding her, and you're still around. Oh, my, myAnd these new Realtors know coming in know this
there's a new kid in town." Lyrics to New Kid infact: that their most valuable asset in their new
Town by the Eagles.career is time. And to maximize the use of that time,
If the real estate industry had a sign hanging over it,they've adopted a team mentality. So they'll create a
it would likely say, "Come in, We're Open!"team that lets them focus their efforts on listing and
And yes indeed, they are coming in.selling real estate, not pushing papers or filing.
Who can blame them? Soaring home values, lowRemember this: REALTORsÂ(R) only perform
interest rates, record sales and corporate downsizingfour dollar-producing tasks: list, prospect, sell and
have all helped to open the floodgates to thenegotiate. The rest are non-dollar producing activities.
industry.As I mentioned earlier, many of these new
And what I see flowing through those gates is aREALTORsÂ(R)are coming from a business
new breed of REALTORÂ(R), one with sharpbackground, mostly middle management, where
business acumen, real world corporate experience,teams took care of business. They understand
solid time management skills and an attitude thatteams, how they work and how they can be used
says, "I'm going to win."to make serious cash in real estate.
I suspect many will win. And here are some reasonsI've seen them just about every day of my
why.consulting business, REALTORsÂ(R) who've
1. They have a plan. I mean a real business plan thatchosen to be the cook, the host, the waiter, they
will help them get and keep customers. A plan thattry to do everything. They're easy to spot. They
will help them make things happen. A plan that willlook frazzled and unprofessional and I suspect their
help their business (yes, they see selling real estatewallets are thin because they're not spending their
as a real business) run efficiently and smoothly. Atime wisely.
plan that won't allow them to sit and wait for the3. They're not afraid to ask for help. This is a first
phone to ring.cousin to teamwork. The smarter new
They've done their homework, they've interviewedREALTORsÂ(R) know they don't have all the
brokers and agents, economists and others aboutanswers and they're not afraid to ask for - or spend
the marketplace. And from that research, they'vemoney for - help from consultants.
created a vision that fits their personality, theirMany of my clients have sharp, top-notched business
morals and their work ethic.minds yet are new to real estate. But here's the deal:
It's clearly one of the biggest mistakes some newno matter how smart they are, they're not ashamed
REALTORsmake: not doing research. It's the firstto ask for help, and they know getting an expert
steps to a winning plan. There's so much to know,second opinion usually pays big dividends.
and yet, some come in without knowing theIt's no secret that there's a big learning curve in real
fundamentals and they think it'll be easy. They don'testate and these new folks know that. That's why
know the number of hours they need to put in -you see so many consulting firms for real estate.
especially when they're first starting out - to make a(Incidentally, that's what prompted me to start my
living selling real estate. Floor time alone won't cut it.business; I saw a niche for affordable consulting in
One thing that really amazes me as I travel aroundthe industry.)
the country working with REALTORsof all stripes isI also believe the brokers who offer solid training and
this: very few of them have a plan. They've justmentoring programs will get their fair share of this
hopped into the real estate river and let the currentnew talent entering the industry.
take them where it may. No boat and certainly noSo whether you're new to real estate or a veteran
rudders.looking to polish your skills, I can promise you that
I've said it many times before and I'll say it herehaving a plan, assembling a team and getting help are
again, plan your work and work your plan. You'll beproven ways to boost your career in real estate. I
amazed how much those seven words can changeencourage you to start today. It's never too late to
the size of your savings account.get a jump on being more successful!
2. They're not going to go it alone. Let me ask youBest of luck to you!