Real Estate Manager: Do you feel like you are herding cats?

I appreciate anyone that will take on the task of managing a real estate office. Soon the newness wears off and reality hits like the flu. One manager told me last week that he thought he would not make it his first 3 months. He was a successful agent for years but when the President of the company called him to manage he felt up to the task. Weeks later he wondered if he had made the right decision. Now he is on the right track but not without stress, pain and the feeling that he had handed over his future to other people and he wasn’t sure that they desired to make it happen. Simply put, he felt like he was herding cats.
Most managers were once agents and they worked hard. Do you ever feel that your agents do not do what they need to do? Do you feel they are lazy? There is a tremendous difference in you being a real estate agent and you becoming an office manager. It is a completely different skill set.
The news is good. You are in control of your own destiny as a manager if you know what to do. You do set the tone in the office and the agents will make a choice. They will love the new culture or they will leave. Either way you win.
Most managers may not have the skill set or the time to coach their agents. Too much paper work, legal questions, financial reports, and dealing with problems will keep the manager from putting in the time and effort to make it work. Even if they are expert coaches, time restraints will make it impossible unless they have only 5 agents.
What can you do as a manager to stop this feeling that you are herding cats and get down to seeing 85% of my agents making good money? What is it costing you by not making good decisions? How do you get back to making the money you did in 2004 and seeing bigger commission checks?
First Thing. Understand that you cannot settle. A current trend with most real estate professionals now is they have settled into making less. This is not a good way to go. Do not settle with a bad economy. Do not become friends with cutting your personal expenses just to survive. The American Dream is much more than buying a home. It is the promise that we can have more, make more and rise above the normal way of life. That is what made America unique from its beginning.
Second Thing. Develop an office culture that you are proud of. Why does your office exist? What is the purpose? The culture must be that of success and not survival. If you have a surviving culture your agents will settle for less and that leads to disaster. If you build a “success” culture then your agents will not lose momentum and will forge ahead in any economy. Why are the rich getting richer and middle class moving down? Rich people do not settle but take advantage of opportunity. They don’t just look to Washington to make more or blame the economy. Give your agents the same thoughts and opportunities. Instead of herding cats give them success. Help them understand that just surviving is not a virtue. They can build a business in this economy and it shouldn’t be optional. Your culture provides support.
Third Thing. Remove the confusion. Most managers complain that their agents seem to be lost when it comes to building a real estate business. Cats are on the prowl and they seemed to be confused? What are the standards and expectations in the office? Do you stick to them or get them the help? Who is leading or herding? Help the agents create a clear picture of the future with the right tools. This will take about 2 hours per month for each agent. Divide them up by groups like A-B-C and work from the top down. Set the parameters and lead each group by their talent, work ethic, and their desire to grow.
Fourth Thing. Be very focused on what makes money now. They shouldn’t be waiting on the housing market to turn around. There is plenty of money to be made now and a ton of listings in the area. Make your office or business meetings great not good. Give them the tools to put into place when the meeting is over. Follow up and be concerned about their success. If they are not successful your “cat herding” will continue.
Fifth Thing. Lead from the top. If you are in your office worrying about how to get the C group going then you lose the A group. Your B group will continue to do what they are doing or maybe a little less. Build a great relationship with A and B groups through one on one and monthly group meetings. The meeting had better be awesome. They are working hard but need direction. Leading from the top means you will need to grow as well. Great reading and studying successful people’s habits is not a suggestion but a must.
Why do managers feel like they are herding cats? They coach or manage from the bottom up. It does not work unless you are a cat lover.

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