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April 22, 2010

The Big Picture

by mark mclean

For the past two weeks I have been managing our company’s downtown east office while the manager is away. One of this week’s tasks was running the weekly meeting. Agents are strongly encouraged to attend as it is a good opportunity to connect with the people you are working with and share stories and information.  Beside the usual reviews of open house activity and new sales and listings, I centred the topic of discussion on the global nature of business.  Our business is real estate, more specifically selling houses and condominiums.

To demonstrate what I meant by global, I set up an example of two agents at a party talking to someone who was considering selling their home. The first agent talks about how historically low interest rates are and how demand is strong. When asked about the future, the first agent believes everything will be good as long as interest rates remain low. The second agent has taken the time to study markets all over the world. He has a clear understanding of the implications associated with grow in the U.S. as a result of modest gains in employment and tax credits to first time buyers. He has taken the time to read the U.S. Fed Report because he follows it on Twitter.  He knows that things are “ramping up” in the U.S. He knows that both the east and west coasts are seeing modest job growth and slight improvements in the low end of the real estate markets. He demonstrates to the potential client that not only does he have an understanding for the local market, but knows the economics of the business in general. He comes across as the more professional agent and is likely to make a lasting impression. Not only can he comment on interest rates, but he knows the factors that contribute to rate hikes. The second agent has demonstrated that he is a leader in his field.  

The fact of the matter is that whether it is real estate or furniture sales, you will always come across more professionally if you have an understanding of “The Big Picture”.

A good manager/broker/owner understands the need to fill in the blanks for their agents. It is one of the support mechanisms that need to be displayed constantly. The goal is simple; provide the information and the tools necessary to make your agents stand out. 

In my next post I am going to talk about other ways we can support our agents. The information in this post may or may not represent the views of Bosley Real Estate.

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