Here is the third installment of Insight from 5 Top Producing Canadian Realtors by Carla Wood. Please feel free to leave a comment.
Interviews with five top producing Realtors® from across Canada, from five national
brokerages, all with very different styles, strategies and markets have provided awesome insights which will inspire change in any professional. These Realtors® include a 17 year
consummate professional with a large sales group and lethal marketing team from Re/Max in Vancouver; a Realtor® licensed in the early 70's with endless energy from Coldwell
Banker in Ottawa; a solo act with a passion for country living and community from Sutton in Calgary; an introverted condo and downtown specialist with focus second to-none from Royal LePage in Toronto; and a team led by two equal partners with a laid back educated approach from Prudential in the Toronto suburb of Oakville.
These interviews consisted of twelve key questions, that lead us through their business
structure, mentors, brand identity, marketing strategy, building a top producing business,
maintaining a top producing business and the challenges that go along with it, how technology impacts their success, advice to new Realtors® and those trying to move their
business to the next level. Ultimately, the interviews ended with wanting to know what the key differentiator was between them and the rest of the pack. This four-part story will be filed away under "educational" for professionals in any sales context, but especially for those in real estate. Parts one and two were highly valued by readers, and part three looks at the next 3 questions asked of the panel, and what the key commonalities and differences are between these 5 interviews.
Again, allow me to re-introduce the panel to you:
Faith Wilson: Re/Max Vancouver B.C. Real Estate Services from Vancouver www.faithwilson.com
Shayna Shuster: Sarazen Realty Coldwell Banker from Ottawa www.shaynashuster.com
Debbie Ashcroft: Sutton Partners Realty Group from Calgary www.debbieashcroft.com
Brian Elder: Royal LePage Real Estate Services Ltd. from Toronto www.be-at-home.com
Bill Schiavone and Steve Diamond: Prudential Town Centre Realty from GTA suburb Oakville www.schiavonediamond.com
What are the greatest challenges in maintaining your success?
Bill Schiavone and Steve Diamond, of Prudential in Oakville, find that striking the balance between staying focused on the core business of prospecting and selling versus training and managing the rest of the team can be a true tension. As professionals are inclined to do, these two are already waist deep in solutions as "we talk about real estate all the time" Steve shares "and we sit down regularly within the office with the team".
Shayna Shuster, of Coldwell Banker in Ottawa is an eternal optimist and matter-of-factly stated "I don't even understand what that means." Shayna has been doing the same things, year over year "matchmaking" as she likes to call it when she pairs a person with a home. And her tricks to matchmaking are simple "you communicate with people, read it right, use the knowledge you have acquired over time, and connect a person with the home for them." Shayna's passion is contagious, just hearing her talk about her matchmaking!
Debbie Ashcroft, of Sutton Group in Calgary, who epitomizes effectiveness in choosing an area of specialization still needs to remind herself not to venture too far beyond her niche market, regardless of temptation. Beyond that she encourages not to get too caught up in negative media reports and attitudes "we are in an industry where people will always buy and sell. Whatever is thrown at you, just be a little creative and get outside of your comfort zone." On a day to day basis, Debbie attributes her success to honesty "if I make a promise, I want to deliver." No doubt her clients want her to as well, and value the security in knowing that she will.
Brian Elder, of Royal LePage in Toronto confesses that making his calls is the hardest part. And in this new era of real estate "dealing with commission objections" has become a challenge, to which Brian responds "That's why it's even more important to work on relationships. Clients who trust you and understand the value you bring don't question your commission." In his articulate way Brian wraps up by saying he wants to "get beyond the commoditization of real estate and have clients understand the idea between value and cost in our services." Need I say more?
Faith Wilson, of Re/Max in Vancouver shares the maintenance struggle is ensuring her team does not drop the ball by staying current, being on top of their game and always being aware.
The commonality for these top agents is consistent far beyond these five. Follow through and implementation of your plan and strategy are what drive success and yet, can be the greatest challenge to achieve. Real estate is a business full of distractions, so without accountability or a set road map, it can feel near impossible to succeed on implementation. Wayne Einhorn, a Principal at EDI Achievement Coaching, who coaches Brokers and Sales Representatives speaks to the combination of a capable professional and a qualified coach, and the results that can potentially ensue "We know that through the combination of knowledge, volition, and action we will create success for clients, and that success must be measured through a significant return on investment."
How did you use technology to build your business?
Re/Max's Faith Wilson was a success before web-based promotion and technology were the driving forces of business. And yet, her team is in step with technology trends and standards and executes them with excellence. A highly searchable, easy to navigate website, with links to Twitter account, Facebook fan page and links to top relevant news stories can all be found here. Using technology allows Faith and her team to stay in touch with clients and referral sources through multiple means and invites them to lean on her for information and connectivity to the real estate industry.
Sutton Group's Debbie Ashcroft had a website right from the beginning, but soon realized that unless she distinguished herself through her site, there was no reason for prospects to stop on her site over any other. Educating herself about SEO's, applying that knowledge, reviewing her site statistics, and keeping on top of her site have been big drivers. In addition, effective use of email, sending electronic newsletters regularly and of course carrying a BlackBerry with her to be available at the ready keep her in close contact with clients. This techno-agent aspires to more yet, like video on her site. So why is Debbie not yet on Twitter or blogging - "I don't want to do it to just do it, I need to be ready to do it well so people will keep coming back." Debbie exemplifies effective utilization of technology and not just technology oversaturation.
Royal LePage's Brian Elder admits he is not huge into technology, and yet he built a website which he tried to make "fresh, urban, clean" to match his branding as he "focuses on homes in the downtown core". Despite falling short of "techno-wizard" status, Brian is current in his services through technology and has a large database of people and agents who receive information online from him regularly. The key to driving quality social media and SEO objectives when it isn't your sweet spot - do what Brian has done "I have somebody helping me manage it." Delegation can drive success.
Prudential's Steve Diamond and Bill Schiavone use technology "every way possible" according to Bill. Steve chimes in with the clarification that they do "anything that makes it easier for us and our clients", which includes ensuring their entire team is equipped with laptops, desktops and PDAs. And they listen too "we're constantly changing and updating our website according to what our clients are telling us they want to see" Steve shares as Bill lets me know about their blog, Facebook page, Twitter account, listings on YouTube, Kijiji and Craigslist.
Coldwell Banker's Shayna Shuster has had to change with the times when it comes to technology. She admits "in some ways it has made life easier, and in some ways technology has made life more difficult." Knowing what works for your business and your approach is the key to selecting technology for Shayna "you need to separate the wheat from the shaft and figure that out." A clarifying phrase puts it all in perspective however "But without your cell phone or BlackBerry, you are dead in the water."
It is fun to watch a cat chase its tail, until you watch him collapse with dizziness and you realize he never fully understand the connection between himself and what he was chasing. It appears to be the same with technology. These professionals have discovered the connection, which many in the real estate industry still need to do. Knowing how technology relates to your business and what you can do to leverage your business through that technology is what makes it valuable. The technology in and of itself can just be downright dizzying.
What advice would you give to agents starting out?
Toronto-based Brian Elder leaps into his response eagerly reminding me new agents need to "take one thing at a time and master it", and expands by saying "You can't do everything at once - you need to have a plan and a strategy." Brian describes his marketing strategy of year over year building on what he has done previously. "Over the years I have been marketing directly and indirectly to one area, they've seen me at open houses, received my just sold and just listed cards, and this year I am on bus shelters within that community." Brian warns, "As a brand new agent a bus shelter sign would be a waste of money, but for me, with an established reputation, it is another level of blanketing the same effect - to have them see me again and suggest I am the person they want to work with."
Vancouver-based Faith Wilson encourages rookies to "be committed to doing the best job you can for every client". She reminds them to "treat every customer like gold." And with the smoothness of a true veteran she adds "pick an area of real estate that you are comfortable with and become the expert in it."
Ottawa-based Shayna Shuster encourages maintaining a sense of your own identity in this business. "Every successful real estate agent does not work like the next one, but they all communicate well and communicate in their own way." Finding your voice is a tool that will serve you well, and there is a lot of room for quality professionals. "There are a lot of good agents out there with their own way of working, but I think each one of them has an instinct about this business and can put it all together."
Calgary-based Debbie Ashcroft reflects that what was effective for her at the onset was to start small. "Really farm and area and become an expert of that little space." She expands the definition of farming by continuing "Just be out there and talk to everybody, letting them know what you do. What worked for me was volunteering." And of course as she started small, Debbie was true to herself as she also took free courses at her board, jumped into technology, attended to each lead with care, and hosted many an open house.
Oakville-based Bill Schiavone and Steve Diamond have practice at giving this advice, and both offer the same words of wisdom "Join a team...a good team." Steve reminds me "your learning curve is pretty steep at the beginning", and Bill reiterates "joining the team helps you learn the ropes a lot faster." All bias aside, for those who know joining a team is not in their future, Bill encourages "just be very consistent with prospecting" and that should lead you in the right direction.
Hopefully newer sales representatives re-read today's interview several times. Listening to the advice of five seasoned professionals as they reflect back to the beginning is a treasure. And pair that with the understanding of what challenges remain even when success is a part of your business reality only intensifies the opportunity rookies can take from these top producers. Asking for 'hindsight insight' from seasoned Realtors in your own office, or as you run into people at open houses is a great discipline to develop. Ask the question - it may surprise you to discover the office hot shot is flattered by your trust and he or she will likely be very intentional with the answer you receive. Take it, tweak it to suit, and apply it.
