Play to your strengths in slow market
Realtor Notebook
By Teresa Boardman, Thursday, August 14, 2008.
A few weeks ago I was at the zoo with my nephew. He is 13, and like most 13-year-olds he still knows things that the rest of us have forgotten but at the same time he doesn't have enough experience at life to know much.
He was watching me take pictures and asking questions. I explained to him what the pictures would be used for and why I love to take them. He told me what a shame it is that I didn't get "good" at photography earlier in life.
He seemed to feel that it is a waste for someone who is even older than his father to learn something new. I told him that learning is something that should never stop, and that it isn't about going to school. He doesn't understand the difference between school and learning yet.
He wasn't buying it but maybe he will when he is 14. He doesn't always like school because his teachers spend a lot of time emphasizing his weaknesses instead of encouraging his strengths, which seem to be in math. He should be doing something fun with math.
As for the photography and my advanced age, he has a point. If I had taken the time 10 years ago to work on it a bit, or take a class or two, my real estate career may have advanced more quickly than it did. When I started in the business I had no idea that photographs would become one of my main ways of meeting people, or what we call prospecting.
Our educations are focused on learning the basics. As adults, when it comes to learning the emphasis seems to be on improving our weaknesses. We spend far more time looking at our weaknesses and improving them than we do working on improving our natural abilities.
In the real estate business, when we don't have enough business we focus on what we are doing wrong. Our managers or brokers may suggest that we get better at open houses or learn scripts and dialogues as a way to get more business. We may end up doing something that we are not good at or that we don't like doing. We push ourselves to do things that don't come naturally, always believing they are the answer for winning business.
Most people don't take the time to look at their natural talents and some don't even know what they are because we spend so much time looking at our weaknesses. It takes less energy to use natural abilities, and we can go beyond mastery and reach excellence.
Yet when I take training or go to classes I end up taking something that will improve my skills in some area that I don't excel at, and still have not taken that photography class. The coaching I have had for real estate has always emphasized improving my weaknesses and has never addressed how I can use my talents.
When I use my natural abilities and play to my strengths I am happier and I make more money. Much of my business comes to me directly or indirectly because of my photographs. I get free advertising because of them and some of my sellers choose me to list their homes because of them.
I have heard that when we do what we love to do the money will come. I believe it because the things we love to do are usually the things that we are good at. When business is slow maybe we should think about what we are good at and figure out how to use that talent to win business rather than taking classes to master scripts and dialogues, or participating in the next cold-calling night at the office.
Teresa Boardman is a broker in St. Paul, Minn., and founder of the St. Paul Real Estate blog.
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Submitted by Alvin Paulson on August 14, 2008 - 11:12am.
It is true that we tend to work more on our weaknesses rather than our strengths. It is definately a great idea to play your strengths in the slow market.
By North Dallas Real Estate
Submitted by Mike Watson on August 14, 2008 - 12:17pm.
Great article. I think it is also important to “play to the MARKET’S strength” as well as your own.
For example, the current market is creating a lot of investing opportunities for us agents - outside of regular listing and selling. Some of the “market strengths” right now are great terms, rent increases, and low prices.
If we adjust our focus just a bit to zero in on the market’s strengths (as well as our own), we’ll be in an even better place.
Mike Watson
Mike Watson Investing
www.MikeWatsonInvesting.com
Submitted by Susie Blackmon on August 14, 2008 - 1:13pm.
You are soooooo right Ms. T. My photography is taking on a life of its own, and I spend time at photography classes rather than driving to Asheville to take the 'updated scripts' classes our company teacher is touting. Terrific article!
Susie Blackmon
http://www.BuckingtheRealEstateTrend.com
Submitted by Mike McCutcheon on August 14, 2008 - 3:21pm.
I remember it well. I was around 14. I received some of the best advice ever from my favorite uncle. He said: "Capitalize on what you know now, because you'll never know as muc again" It took me into my twenties to realize just how astute that advice was.
(Go Michael Phelps!!)
Submitted by Kris Berg on August 14, 2008 - 5:03pm.
I agree, T, except that I like the concept of the low-hanging fruit. When we feel we are getting to the point where we are nailing our strengths, the biggest growth potential really exists in our weaknesses. So, from my vantage point, nurture the fertile crop but don't ignore the undergrowth.
Kris Berg
Submitted by Pam Dent on August 14, 2008 - 5:45pm.
Its great when you can do what you love and make more money too. I have always believed in the concept "play to your strengths", but sometimes I get sidetracked trying to emphasize a skill that someone else thinks I should be good at.
Pam Dent
Charlottesville, VA
www.JumpintoGreenerPastures.com
www.CharlottesvilleRealEstateTalk.com
www,CharlottesvilleHorseFarmsandCountryHomes.com
Submitted by Brenda Wright on August 15, 2008 - 4:52am.
I agree with all that you have said. I feel encouragement will win everytime and if you are good at something the world will tell you and remember it. This will bring the opportunities you need to make the connection and seal the deals we so want to make in the real estate business.
Submitted by Judy Peterson on August 15, 2008 - 9:32am.
Sounds like you're a great example of the value and importance of life long learning.
Judy Peterson,
Realtor
Prudential Fox & Roach Realtors
610-889-5509
www.MainLinePaToday.com
Submitted by Jean Powers CRS on August 15, 2008 - 5:30pm.
Great post! It is a very positive to focus on what we excel and like to do in the business instead of focusing on our weaknesses. Thank you for this blog.
Jean Powers
Broker Associate
Windermere
510 908.9002
Submitted by Chad Lariscy on August 17, 2008 - 1:20pm.
I agree with you Teresa, My Papa always told me to do what you love and the money will come with it. I am having one of the best years of my life and I owe so much of it to Jim Cronin and his Tomatoes. I have thoroughly enjoyed my time blogging and concentrating on a side of the business that so few unfortunately don't even know anything about.
I too have found myself looking into photography classes ecause I enjoy it so much. Thanks for the post, I really enjoyed it.
Make it a GREAT week!
Submitted by Susan Zanzonico on August 17, 2008 - 7:54pm.
I totally agree with you as well. Doing what you like you're almost certainly good at it so it can end up being profitable. Plus you're just happier and thats always a good thing. This post reminds me how much I love taking pictures as well, yet haven't done much with it. I think you have prompted me to do more. Thanks for this lovely post and keep snapping those great pics!
Susan Zanzonico
Morristown NJ Real Estate
Madison NJ Real Estate
Short Hills Real Estate
Submitted by Robin Taylor Roth, PhD, CMQ/OE on August 17, 2008 - 10:27pm.
Thank you for the homey story, Teresa. Sometimes it's the simple things, like a child's unsophisticated observation, that really make us think.
I like Mike's suggestion about capitalizing on the market's strengths, also.
The question remains: how does one identify those strengths?
Identifying market strengths is fairly easy; other people (like Mike) have identified them for us. Identifying one's own strengths is another matter.
In a previous life, I was faculty advisor to about 100 incoming college freshmen. They would make an appointment to see me, in late Spring, distraught because they had to choose a major area of study. Most had no idea what they wanted to do "when they grew up.". Naturally, the discussion quickly turned to what they liked to do - and what they were good at. I counseled them to consider various aspects of their lives, such as school subjects at which they excelled, school subjects they most liked, what they like to read about, hobbies, the jobs of people they most admired, accomplishments of which they were proud.
As adults, we can think about the same kinds of things as those freshmen did, to determine what we're good at. For example:
These are not questions to be answered lightly or quickly; they require patient introspection. However, the results will prove to be worth the time you invest.
From the list of strengths thus generated, you can derive those real estate activities (prospecting & marketing techniques, for example) that best build on those strengths. You may still want to participate in some training, but you can then select targeted coursework.
Robin Taylor Roth
Senior Director, eLearning
Franchise Sales & Service
Century 21 Canada Limited Partnership