NEW Counsel’s Roundtable: Managing Broker Risks

 JUNE 22ND

 Managing Broker Risks in Today’s Real Estate Environment

2

Exclusive to Brokers and Managers ONLY

Don’t Wait – Limited Seating Remains.

Managing Broker Risks in Today’s Real Estate Environment

  • Liability issues created by teams and assistants
  • Advertising and marketing compliance pitfalls
  • Poor use of form and contracts create bad transactions
  • “Managing” without “Controlling”

Testimonial from Previous Counsel Roundtables

CRT ENCORE VC

Brad BoydFEATURED INSTRUCTOR: BRAD BOYD | Brad has instructed courses for groups ranging from 7 to 700, and has taught more than 50 CE and training courses covering real estate and legal topics. He has practiced law for 15 years, with more than 10 years of experience focused specifically within the real estate brokerage industry. Brad has served as the outside general counsel to the Minnesota REALTORS® for 8 years and continue to serve in that role.

$99 | MN REALTOR® Headquarters, Edina | 9:30AM-Noon

Contact Katie Kuhn to register at 952-912-2673 or kkuhn@mnrealtor.com

The Minnesota REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.

 

 

Advertisements

THE PLATINUM RULE

Recruiting Secret

Treat others the way they want to be treated.

By Larry Kendall, chairman of The Group, Inc. and author of Ninja Selling

Top sales people come in all shapes, sizes, and personalities. A one size fits all recruiting strategy is doomed. For many managers, their strategy is to recruit the way they want to be recruited. In essence, they are practicing the Golden Rule: treat others they way you want to be treated. We find the most successful recruiting managers practice the Platinum Rule: treat others the way they want want to be treated.

You can discover a recruit’s personality, motivation, and decision strategy by asking questions and observing his or her behavior and body language. Notice whether he seems to be outgoing or more reserved. Is she more people (relationship) oriented or task (bottom line) oriented? These two dynamics form the four basic personality types as show below.

Real Trend

Power People are task (goal) driven. They want to know if you have a system to help them achieve their goals. They like staff support and systems. They are bottom-line, result-oriented sales people. They are focused on their future and impatient to get there. They do not like a long, drawn-out, multi-interview process. When they are ready to go, you better be ready to hire them.

Party People are all about the relationship. Do they like you? Do they have friends in your company? Their key driver is fun. Will your company be a fun place to work? They often comment that their old company is no fun anymore. Meet with them at a bar, restaurant, or golf course. Have fun with them. Perhaps bring along their friends who work in the office. Focus on your culture, people, parties and activities. Party people are not detail oriented and will appreciate your staff systems, so focus on your support for them. The love attention. They are impulsive. If it feels right, they do it.

Peace People are risk avoiders who don’t like change. As a result, they are the most difficult to recruit. In your office, they are also your most loyal team members. They want everyone to get along and are a stabilizing influence as they work to keep the peace. They want stability and a manager/owner they can trust. They are very slow decision makers and move away from their existing company rather than moving toward a new company. They leave their current company because of instability or their loss of trust. Be their choice (stability and trust) when they are ready to move.

Perfection People are seeking the perfect company. The space where you interview them needs to be neat and perfect. Any printed material needs to be perfect. Your emails with them need to be perfect. They will ask a lot of questions about your numbers and systems. They are slow decision makers and may build a spreadsheet comparing various companies. They love data and want to be the source of real estate knowledge for their clients. If you can help them do this, they will want to join you.

As you can see, one strategy does not fit all the personality types. Practice the Platinum Rule, and you will experience greater success in your recruiting and managing of your team members. ^

This article originally appeared in the May 2016 issue of the REAL Trends Newsletter and is reprinted with permission of REAL Trends Inc. Copyright 2016.

The Minnesota REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.

Encore Presentation Counsel’s Roundtable

May 20th

Independent Contractors vs. Employees

Seats are limited to 24 for Managers & Brokers ONLY.

Testimonial from previous Counsel Roundtables

CRT ENCORE VC

INDEPENDENT CONTRACTORS VS. EMPLOYEES:

No one is immune: Uber, FedEx, and even real estate brokerages are finding that individuals they deemed independent contractors may actually be re-classified as employees. There are ways for brokerages to mitigate the risk of a re-classification lawsuit. Are you doing it right? Brokers/managers, come find out more about the importance of independent contractor agreements, what you can and can’t do in policy and control issues, and risks created by teams, assistants, and the use of non-licensees.

Brad Boyd

 

FEATURED INSTRUCTOR: BRAD BOYD

Brad has instructed courses for groups ranging from 7 to 700, and has taught more than 50 CE and training courses covering real estate and legal topics. He has practiced law for 15 years, with more than 10 years of experience focused specially within the real estate brokerage industry. Brad has served as the outside general counsel to the Minnesota REALTORS® for 8 years and continues to serve in that role.

 

 

$99 | 9:30AM-Noon | MN REALTOR® Headquarters, 5750 Lincoln Drive, Edina, MN

Contact Katie Kuhn at kkuhn@mnrealtor.com or directly 952.912.2673 to Register.

The Minnesota REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.

Counsel Roundtable April 27th

2 Seat Remain for the Counsel Roundtable on Independent Contractors vs. Employees

BROKERS & MANAGERS ONLY

Testimonial from previous Counsel Roundtable

CRT - Testimonil 2

Independent Contractors vs. Employees

No one is immune: Uber, FedEx, and even real estate brokerages are finding that individuals they deemed independent contractors may actually be re-classified as employees. There are ways for brokerages to mitigate the risk of a re-classification lawsuit. Are you doing it right? Brokers/managers, come find out more about the importance of independent contractor agreements, what you can and can’t do in policy and control issues, and risks created by teams, assistants, and the use of non-licensees.

Brad Social post

Featured Instructor: Brad Boyd – Brad has instructed courses for groups ranging from 7 to 700, and has taught more than 50 CE training courses covering real estate and legal topics. He has practiced law for 15 years, with more than 10 years of experience focused specially within the real estate brokerage industry. Brad has served as the outside general counsel to the Minnesota REALTORS® for 8 years and continues to serve in that role.

$99 | 9:30AM – Noon at the MN REALTOR® Headquarters, Edina

Contact Katie Kuhn at kkuhn@mnrealtor.com or directly at 952.912.2673 to register.

The Minnesota REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.

STOP SELLING; START SOLVING

RECRUITING SECRET

Don’t try to answer someone’s prayers until you know what they are praying for.

By Larry Kendall, chairman of The Group, Inc. and author of Ninja Selling

Most salespeople have been taught the traditional three-step sales presentation:

  1. Make a connection (build rapport);
  2. Make a presentation of features and benefits;
  3. Close.

My observation is that most managers use this three-step approach in their recruiting, as well. After building rapport, they immediately launch into their spiel: “Let me tell you about the exciting things we are doing in our company – technology, lead generation, brand, staff system, etc.”

There’s an old rule of selling , “Don’t try to be the answer to someone’s prayers until you know what they are praying for.” The traditional three-step sales presentation violates this rule. The manager (or salesperson) who is telling and selling never discovers what the recruit (or customer) is praying for. If you don;t accidentally hit a hot bottom, your presentation starts to sound like “blah, blah, blah.”

What would happen if the manager used the Ninja Four-Step Consultation instead? This is the process we teach in our Ninja Selling classes, and it works great for managers who are recruiting. Let’s face it; a recruiting interview is a sales interview. Here’s how the four-step consultation works.

Step 1: Connection

Recruits want to work with someone they like and trust. They decide this in the first two minutes. Do they feel a connection with you? Do they like you, trust you, and want to go down this path with you? They will feel the connection if you ask questions about them. WE recommend you ask F.O.R.D. questions- Family, Occupation, Recreation, Dream (goals). Most people are very comfortable talking about these four areas of their life, and you are building rapport and connection.

Step 2: Information (Pain/Pleasure)

This is critical transition step. In the traditional three-step sales process, you would now be at the presentation stage, where you launch into your pitch of features and benefits. Most managers love this step because they get a chance to strut their stuff on stage.

There are two problems with this approach: first, the manager is trying to be the answer to their prayers without knowing what they are praying for; and second, the manager has time of possession (is doing all the talking). After a few minutes, the recruit stops paying attention, drifts off, and the connection is lost.

Instead of launching into your spiel, listen carefully to how the recruit answers your question about F.O.R.D., especially about their business (occupation). Listen for pain and pleasure. This is what they are praying for. Here are my two favorite pain and pleasure questions:

Pain: “What is your greatest challenge in your business right now?”

Pleasure: “If you could wave a magic wand and have your business just the way you want it, what would that look like?”

Step 3: Solution (Create Potential Solutions)

Now, formulate potential solutions that solve what they are praying for. How can you connect what you have to what they want? I once had a top producer tell me she was so busy, and the market was so hot, that she couldn’t make a move at this time. When I asked her about her greatest challenge, she said she was working all the time, and business was falling off her desk.

Step 4: Proposal (Propose Solutions)

I showed her how our staff systems would save her time and make her money. We could dramatically increase her income per hour so she could have a life. She had also talked about a goal of having more time with family and this solution resonated with her. She joined us right away because she wanted the solution.

Be a master recruiter. Stop selling and start selling.^

This article originally appeared in the April 2016 issue of the REAL Trends Newsletter and is reprinted with permission of REAL Trends Inc. Copyright 2016.

The Minnesota REALTORS® is the largest trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry. 

 

 

 

 

 

 

 

 

 

February 18th Counsel’s Roundtable

Be prepared! Find out what to do during a DOC inquiry BEFORE they contact you – not after!

Seats are going fast – Only a handful remain – limited to Brokers/Managers ONLY!

February 18th | 9:30 AM-Noon | $99

MN REALTOR® Headquarters – 5750 Lincoln Drive, Edina, MN 55436

WHAT IS THE COUNSEL’S ROUNDTABLE?

Brad Boyd and the MN REALTORS® have collaborated to create a unique new professional development and education program. The Counsel’s Roundtable series will be a set of focused timely and relevant topics for brokers and managers ONLY.

Brad Boyd

WHEN DOC ENFORCEMENT KNOCKS ON YOUR DOOR

Brokers and Mangers – The Department of Commerce might call you tomorrow, and ask you to meet to discuss a file, or a series of transactions. Are you ready for that call? Who do you call next? Even if you think you’re ready, are your agents? This is an arena in which being “too careful” is almost always better than being “not careful enough”.

This is an instructor-led, small group setting – not a CE offering. We will have full flexibility and the opportunity to explore the topics in depth with meaningful dialog and Q and A’s. The timeline is yours. We will not be bound by a set agenda or a mandated outline. Class size is extremely limited so don’t delay in signing up.

Register today with Katie Kuhn at kkuhn@mnrealtor.com or 952.912.2673.

The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 17,000 members involved in all aspects of the real estate industry.

cropped-untitled-design.png