Monday, October 29, 2012

Working IN the Business vs Working ON the Business


By John Mangas, Broker/Partner RE/MAX Preferred Toledo, Ohio

 We are all in business, and self employed…
And upon occasion we all fall into the certain traps that are part of being human. Let’s face it, sometimes we allow ourselves to take the easy path and yet there are times when we are super motivated, organized and on our A+ game.  Why is that?

Psychologists tell us that the majority of us do the same 8 or 9 things every day. This includes the work patterns that we manage our business and our personal lives with. They also tell us that of these 8 or 9 tasks, only 1 or 2 is pro-active and drives business.

This is a great time of the year to analyze how we manage our business and activities. How much time do we spend working IN the business vs working ON the business?

Working IN the business can be thought of as day to day busy work much of which could be delegated. It also includes some bad habits that many of us also have that ultimately hold us back. Unfortunately, the majority of us spend way too much time on the minutia.  For example, one of the bad habits I often see among agents is that they expect technology to drive their business. Many agents love spending time exploring technology options. Technology is just a tool and does not create relationships or translate well in a negotiation, however it can be helpful to enhance an existing relationship.

Now let’s shift to working ON the business. This includes creating and monitoring systems and efficiencies, being the rainmaker (enhancing relationships and creating new opportunities), evaluating priorities and managing the processes. When I think of these activities I see agents at opens, working expired listings or by owners, being in the community and actively seeking new business opportunities with business owners, HR managers, builders etc. This includes making sure that systems and processes function well and in turn allows the agent to be working at their optimum efficiency.

I know from my own personal experience, I do a much better job working ON the business the week before I leave for vacation. Suddenly, I become very organized and go into “crush it mode”. In my opinion that is an example where instead of doing 8 or 9 tasks of which only 1 or 2 drives the business I am performing at a higher level and perhaps 6 or 7 of them are driving business.

Hope is not an effective strategy. What I mean is hoping that 2013 is better than 2012 just doesn’t cut it.  As we look at 2012 and plan for 2013, I encourage you to honestly ask yourself if you are spending too much time IN the business and not enough time ON the business. Increasing the pro-active tasks to 3 or 4 is manageable and doubles the amount of time that you are ON YOUR BUSINESS! Here’s HOPING that you spend more of 2013 like each week is the week preceding a vacation and that you WORK ON YOUR BUSINESS like never before!

Friday, October 19, 2012

Talk to Your Sellers About Virtual Showings


 By Kathy Kuyoth Broker/Co- Owner RE/MAX Preferred Associates Toledo, OH 

With over 85% of home buyers starting their searches online it’s important to inform sellers about the effect this has on physical showings. In today’s market, a buyer can get most of the information about a home for sale , see multiple photos, and watch a virtual tour online. The buyer may do this several times over an extended period before they decide to request to physically see the home. With this in mind, monitor your websites for the number of hits you have on each of your listings and give your sellers that information in your weekly update. Sellers will appreciate this helpful information as there are usually fewer physical showings during the 4th quarter. You also need to set the stage during your listing appointments and let your sellers know there may be less physical showings because of the buyer being able to access a lot of the information about the home online. Make sure you stay in touch with your sellers and keep them informed Communications are more important right now as activity is declining during the last few months of 2012.

Monday, October 15, 2012

Good morning; it’s Q4 – 2012, WOW!



By John Mangas, Broker/Co-Owner RE/MAX Preferred Toledo, Ohio

It’s the 4th quarter…are you re-positioning yourself to reflect that in your business practices?

I think most of us would agree that how you are conducting your activities in the 4th quarter is different than it is in other times of the year. Many times I receive feedback from associates acknowledging that, but then there is generally a “what do you think I should be doing” follow up question. So let me share a few thoughts…

  • Listings: OVER COMMUNICATE! My suggestion is to be face to face with every seller at least one time during the 4th quarter. Sharing market stats, feedback, perhaps a new market analysis or even a price adjustment are all great topics. Updating seasonal appropriate photos is a must! A great tip for this time of the year (depending on your market) may be to load your sellers in the MLS as a prospect for their neighborhood so that they see all activity (or lack of activity) in real time. By doing this, you have the perfect reason to follow up with a conversation (not an email or text message) every time you are copied on the MLS correspondence. What I’m really saying is to make information your strongest ally and use personal communication to support the message. They hired YOU and they want to hear from you personally.

  • Buyers: Buying power has never been better in the course of my career. Historic averages for interest rates are in the mid 8% range. With fixed rates in the high 3% range and home values at late 1990’s to early 2000’s values, this may just be the perfect window for buyers to get a property under contract. We all know that energy costs have gone up and that a large portion of the U.S. suffered from a drought this growing season. Energy and food costs together could begin an inflationary cycle that may eventually affect home values. Right now is an ideal time to be a buyer, period!


  • YOU: How are you re-investing in yourself? This is a terrific time of the year to spend reaching out to past clients, friends and potential new business contacts. Look at your daily and weekly routines through a STOP-START-CONTINUE lens. There are places that we can all be more efficient and this is an ideal time to evaluate your systems and business practices. No matter how good any of us are, there are always areas that could be improved.

Thanksgiving is 5 weeks away. How are you going to make a difference in your 2013 business by using the next 5 weeks to set next year’s momentum in motion now?