Are you stepping on the field without your playbook?

By Kathleen Black

This is the moment. The game is down to the wire with both teams tied for the win.

You look to the left for a signal of the play that will take your team to the top. You look to the left again, then to the right.

You start to come to the frantic realization that you have no clue what play will save the day, no clue what the plays are and no clue that you even needed them.

Finally, you come to the realization that a win will be fate or luck at best. You ease your stance to assess the opposition; they must be in the same predicament, right?

Wrong. They are standing tall and confident. They look to the sidelines and are signaled to play. Not only do they have a play, but they have a full book of the best strategies to win in the quickest amount of time.

They have someone overseeing the game and signaling only after assessing the bigger picture of everyone in play … They have the playbook. You don’t. It doesn’t matter that you made the finals. You just lost the game and your top players for next season.

When was the last time you saw a pro sports team allow any athlete on the field without learning the playbook? Exactly! Welcome to real estate.

We create our business before we start DOING business: We start our business or teams before we meet our first client and before we hire our first assistant, buyer’s agent or partner.

The business does not evolve from an action. It evolves from a thought, a plan and then your perception of that plan put into action.

Perspectives are an endless sea: Trust me … I’m a coach … green isn’t green when only I see it. Until then you may argue it is black, and for you it is. At least until I am successful in adjusting the lighting.

This is why some companies give away their playbooks for free. They know the likelihood of you reading them in the spirit intended is pretty slim. The perspective dictates the way you view the content. The way you view the content dictates your results. This is true with a script, a presentation, interview questions or how you present a contract. The content gives you structure, but the delivery gives you results.

Broken plan = broken business: Most people stick with their plans for a while even when they are broken.

Most of us seem to have a natural strength in criticizing new opportunities even though they have tried, tested and true track records; but we promptly pick up our trusty rose-colored glasses when assessing our own methods. I know they are comfortable, but how comfortable is a kitchen table without dinner?

You can create reasons OR you can focus on results: A great playbook considers several things, including predictability, odds, averages and costs. This is all for one reason: to create an environment with the highest likelihood of success!

Don’t get me wrong; great results with predictability always have reasons. That is what makes them valuable and predictable. However, reasons do not always have results. In fact, without results, reasons are the enemy of progress. The best reasons get us results.

The myth: All lessons lead to great feats: Have you ever heard a story about all the lessons someone learned on the way to the top?

Sure, we all have. It goes sideways because you can choose to learn how to create a wheel, and I am sure we would all learn something from that, and even do it better the next time, or you could learn to create the most aerodynamic high-performance wheel the world has ever seen — a wheel best in class and worthy of duplication.

The myth is that all lessons lead to large feats. Mastery requires us to go beyond our mentors and idols by building upon the work they devoted their lives to. We all have the choice to bend time by learning and investing in what already works.
This is why salespeople join the industry. They have talent. They have ambition.  They seek growth. They need a system to achieve their potential, in a tenth of the time, compared to the average agent.

Average is VERY average, in a growing industry where many are throwing dirt against the wall and hoping something will stick. We wonder why there is a muddy mess of our industry’s reputation.

Kathleen Black is one of the world’s leading holistic performance coaches. She was given the Iconic Leaders Creating a Better World for All award. She is a two-time bestselling author and lives in Oshawa, Canada, with her two independent, free-spirited children, Ethan and Ella.

How to break into the luxury real estate market

By Michael LaFido

As a real estate agent, it is difficult to break into luxury home sales. Many agents believe they have to be licensed for X number of years before they can sell luxury real estate, but that is false. Many agents believe they have to be affiliated with a certain brokerage to be able to consistently sell luxury homes. That, too, is false. Many agents believe they have to drive a luxurious car or live in a high-end home to sell luxury homes. Those ideas are also untrue.

What IS true is that luxury sellers rarely allow agents who are inexperienced in luxury home sales the opportunity to interview, let alone work with them, until you can show them that you have successfully sold similarly priced homes in that area. One of the most important truths to getting hired is that you have to build sellers’ trust and be likable. As psychologist Daniel Kahneman, a Nobel Prize winner, discovered, people would rather do business with a person they like and trust than with someone they don’t, even if the likable person is offering a lower-quality product or service at a higher price. The bottom line is, be likable.

If you’re trying to “break into selling luxury homes,” my advice is to attend other agents’ luxury broker open houses in your market. You will gain an understanding of the styles, materials and construction involved, and you will gain confidence and more knowledge. Perhaps the listing agent may even grant you permission to “shoot a live video” from the property. You might also consider hosting an open house at another agent’s higher price point listing from your office.

I believe that when an agent is more knowledgeable, they will be more confident. When you are more confident, you will be more likely to step out of your comfort zone and know that you can work with high-end or luxury buyers and sellers. Once you make the first couple of sales, it’s easier to sustain business with those upper-price-point clients.

So, what exactly is a luxury home, Michael, you ask? Some people classify it by the style of the house, or perhaps by its finishes, or by the product brands in the home. So, how do we define a luxury home from a price standpoint? I know different brokerages and different real estate firms define luxury real estate differently. Many define a “luxury home” as a property that is priced at $1,000,000 or higher.  For the purposes of this article, we’re going to define a luxury home as a home that is listed for sale at at least three times the average sales price for that market. (There are four primary price points in most markets: starter-/entry-level, average, high-end and luxury pricing. I define high-end homes as homes that are two times the average sales price for that given area.)

Luxury is relative to that specific market. Most markets have luxury homes based on our definition; it’s all relative, however, because when people think of luxury, they often think of McMansions or estate homes, and that’s not always the case. To take action, you need to develop graphs and other visuals that can articulate the data for luxury and high-end real estate for/in your marketplace: Are you in a buyer’s market or a seller’s market? High-end and luxury homes start at what price point for your market? You need to know this information. You also need to align yourself with luxury strategic partners and become a student of local and global luxury trends. Almost every ambitious agent in this business wants to break into the luxury market, so you need to set yourself apart by proving you have excellent market knowledge and proven plans to successfully help homeowners sell their homes. Now go prove to the luxury sellers in your market that you’ve got what it takes!

I love sharing our content to our e-mail database, as well as sharing them on other platforms like Facebook, LinkedIn, Twitter, Instagram, and, of course, YouTube. I would love to hear from you. Let’s connect over Instagram @LuxuryListingSpecialist, and let me know how we can help!

Michael LaFido is the founder of the LUXE Designation (LuxuryListingSpecialist.com), founder of the Luxury Listing Specialist Podcast and author of the book “Luxury Listing Specialist.”