by Leonard Steinberg
We all have to eat. So it is natural and understandable to place one foot ahead of the next and focus on today and maybe tomorrow, but as professionals building thriving businesses – and lives – we need to focus as much on the day after tomorrow and well beyond.
Being present is essential in being fully engaged in a career and life. Who knows what tomorrow brings? However, the smartest, most accomplished people and companies plan for long term needs too. They make plans for weeks, months and years from now and put into place plans, projects and protections to be prepared for this future. There is one certainty in life we can all agree on: change. Markets change. People change. Technologies change. Political leadership changes. We age (all of us, sorry!). Being caught off guard can be debilitating.
We are rather disciplined to take out insurance policies, get a good education and save for retirement. These are established habits. And they all have one thing in common: they involve some investment, sacrifice and a little ‘pain’. Wouldn’t it be much more fun to spend that money on a trip or a new car? But we have learned over time that without these things the relatively minor pains we feel now are far less painful than that which we might experience in the event of a disaster without insurance, a career without education or a retirement without savings.
So what are you doing today to plan for the long term? What could you do to insulate your long term future? What can you invest today – whether in time or money – to be rewarded later? Yes, focus on today and tomorrow as your priority, but dedicate some time and thought – and action steps – to some long term planning.
|This past week we’ve endured our fare share of media articles that were either incomplete, inaccurate or downright misleading. Yesterday, The Wall Street Journal published an article about some academics discussing how overpaid real estate agents are and how to fix this problem…..in a publication that supposedly believes in free markets and capitalism. It was another embarrassing moment for the WSJ which used to focus on facts and data and tell the complete story.|
The writer for this article was basically making the case for any entity on the planet that would sharply reduce the excessive fees us agents charge for doing what this troupe deem as ‘quick and easy’ money. The article continued the myth that all agents everywhere earn ALL 6% commission simply by doing a little paperwork, a few showings and bingo! Jackpot! Not one real estate brokerage or agent was consulted in this embarrassing lapse of journalistic drivel. So while I could go on and break down each and every ridiculous claim and their solutions, I’d rather focus on the more important lesson from this moment.
Here again we see how some of the fame-seeking, drinks-throwing loons on Reality-TV calculating their commissions BEFORE a showing (never mentioning splits or expenses of course….or the time and energy and work that happens well before a transaction and forever afterward) have given the world – even College Professors – the completely false/distorted impression of what we do and how we earn our fees. That’s aside from boasting about the ‘millions’ they make, the private jet lifestyle they lead, etc. The damage they have done over a decade may take a decade to undo……but only if we do something about it.
We as a profession have failed miserably in CLEARLY messaging to the consumer exactly what a PROFESSIONAL agent does to earn their fees. Everything. Not just the open house or the showings. Not just the advertising, marketing, social media management, etc. EVERYTHING. As well as all the planning and advisory work that happens BEFORE something is listed and all the work that happens AFTER the closing. We also have to message the extensive expenses we incur and the mammoth expenses of our brokerage that we participate in with our splits. What does a website, tech tools, offices, staffing, advertising, marketing teams, etc cost to build and operate? WE – not the WSJ or the crafty drivers of this narrative whose sole purpose is to replace us or minimize our income for THEIR gain – must message this. The COMPLETE picture.
So let’s get started. Today. What can you do that messages the WORK and VALUE you deliver, not just the income, glamor, etc. And yes, all of this can showcase beautiful property too. Boasting about our incomes and successes is nice but may also message that we are indeed overpaid and its all too easy. (Most of us never message how tough it was to sell a listing over 18 months…..maybe the time has come to do so!)
PLEASE contact us today and we will show you our VALUE of WORK as agents that we will bring to helping you to get your real estate needs taken care of with professionalism.