Andy Sachs is team Leader at Coldwell Banker’s The Around Town Team.
Describe what you do in one sentence: My passion in real estate is to be different and innovate; that is where much of my energy goes.
Degree, school: Bachelor of Arts in politics and master’s in public administration
Location: Fairfield County, Connecticut
What’s your favorite activity outside of work and why?
Family first, then CrossFit, then golf. One of the primary reasons I entered real estate is to have the flexibility to be there for my family and have the flexibility to live a full life.
What’s your favorite classic piece of literature and why?
Though I have an appreciation for several classic novels and writings, my current favorite is “The Alchemist” by Paulo Coelho.
Are you the first entrepreneur in your family?
I am not. Several entrepreneurs preceded me on both sides of my family. I have always considered it a gift and have been fortunate to understand both the challenges and the advantages of being an entrepreneur.
Why’d you decide to join your company?
After realizing that you can work your buns off in the corporate world and not get rewarded for it, I decided that I needed to be my own my boss. I don’t want another person’s will or position in life to inhibit my growth.
Describe a time when you felt particularly insecure about the future of your company. How did you bounce back?
Wow, I think I feel that on a monthly basis. A team member not performing as well as they are capable of performing, a few deals fall through or I don’t get that listing I thought I was sure to get always make me review and question what and how my team and I are performing and approaching our business.
I typically bounce back by taking a step back and looking at the bigger picture. I think as agents we can get lost in the minutiae of our business. The day-to-day activity, challenges and victories can skew our reality.
The big picture never lies, as it is an accumulation of those daily activities, challenges and victories. If the big picture continues to grow, than we know we are on the right track.
What would you describe as your company’s biggest victory since you joined it?
In only our first full year as a team, we were the second-highest producers behind a veteran team in a higher-end market. We plan to overtake them in two years.
What’s been the biggest obstacle your business has encountered, and how have you dealt with it?
Training new agents is my biggest challenge. Our most recent effort is to institute weekly 30-minute coaching calls that are broken up as follows: First 10 minutes, I answer any questions or needs they have; second 10 minutes is set aside to review the past week’s accomplishments; the third 10-minute block is to set the following week’s business producing activities. So far, so good.
What puzzles you most about the industry?
I am constantly amazed about who brokers will hire. The old model of simply bringing in a warm body in hopes that they will do a few deals puzzles me. I only want to hire the best and be surrounded by the best. Everyone does better when that is the case.
What is the most important lesson you’ve learned about building a business?
Slow, steady movement wins the race. It is not built in a day, week or even a year.
What’s the most overrated real estate technology?
I think that can vary from market to market. For me, I have seen a lot of the lead generation platforms not work in my market but have seen them flourish in others.
How will the role of the real estate agent change over the next five years?
I believe that our role as a trusted adviser will increase. The complexities of our industry continue to grow from an economic, policy and marketing standpoint.
I do think that no longer can you simply hire your best friend to sell your home. If your agent is not well-versed in these three categories, a seller or buyer is doing themselves a grave injustice.
What motivates you more: power or money?
Hmm, definitely not power. And over the last few years, I have learned that money is a byproduct of working hard and smart. So I guess neither are my primary motivators.
Don’t get me wrong — money sure does help!
What is your biggest professional fear?
Letting my team down; not giving them the tools and support they need to grow. It’s hard.
What is your biggest personal fear?
Not being present enough for my wife and kids.
Whom do you respect most in the industry?
Tom Ferry; the guy is genuine. And my father-in-law. He got me into the business and taught me the basics. The man is still incredibly well-respected all over our market by clients and agents alike.
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