The Five Temptations of a Realtor

Every one has temptations that we must contend with everyday, and I am not talking about the personal ones Tiger Woods succumbed to, there are already enough blogs on that. I am referring to temptations that every Realtor must face on their road to a successful real estate career.

Inspired by The Five Temptations of a CEO by Patrick Lencioni, here is my take on The Five Temptations of a Realtor. 

TEMPTATION #1- Choosing Status Over Results

Park benches and grocery carts might love your mug shot, but that does not mean you are producing results. Many Realtors base their success on their perceived status in the real estate community. Thousands of dollars are spent on ego "branding" with very little thought into what is actually producing results. Take a look at a Realtor's website and when you see it is all about them, it is a good sign the Realtor has fallen into this temptation.

ActiveRain member Jeani Thomas Ritchie in her recent featured AR blog, "I got the job because it wasn't all about me!" gave a good example of results over status:

"I will be listing my property with you and I just want to tell you that the thing that impressed me most about you was that it wasn't "all about you" you really came in and answered my concerns, told me the truth and offered solutions to my problems."

Question: Would it bother you greatly if you exceeded your objectives in business, yet remained anonymous relative to your peers in the industry?

TEMPTATION #2- Choosing Popularity Over Accountability

Remember High School and the popularity contests? Well, things did not change much when you decided to join the real estate industry. Even Active Rain has the "in crowd", it's not a bad thing, it's just natural. BUT, we should still have a sense of accountability to provide helpful contributions to the AR community rather than just do "drive by" comments and post useless blogs.

Accountability over popularity also means sticking to your morals and ethics regardless of the situation and how much money is at stake and holding others you do business with to the our ethical obligations. This can be difficult in a community of Realtors where we rely on strong networks and friendships among our peers. 

"The slightest reluctance to hold someone accountable for their behaviors and results can cause an avalanche of negative reaction from others..." The Five Temptations of a CEO

Question: Do you find yourself reluctant to question a Realtor you are doing business with on a seemingly obvious ethical violation?

TEMPTATION #3- Choosing Certainty Over Clarity

Realtors are having a hard time defining their vision in a changing a market because they are afraid to be wrong. You can not hold yourself accountable without have clarity in your mission statement and business plan, even if the future of the market is uncertain. Realtors slipped out of the market these past two years, mostly because of an unclear vision and business plan, not because of the market changing. The market shifted, but Realtors where not clear which way to go. Do you think Gary Keller's book Shift has become a best seller by accident? (Here is a good review of Shift by ActiveRain member Renee Burrows)

Realtors need clarity of vision in a market that is shifting and uncertain...even at the risk of being wrong.

"I'll take a well executing company over a visionary one any day." The Five Temptations of a CEO

Question: Do you prefer to wait for more information rather than making a decision without all the facts?

TEMPTATION #4- Choosing Harmony Over Productive Conflict

It would be nice if every real estate transaction was pleasant and enjoyable. They aren't. Some are just downright difficult where you face resolving difficult issues with difficult clients and Realtors. 

People hate conflict. Since Realtors are people, despite what some would say, they generally despise conflict too. Why do you think Realtors not answering phone calls has become such a hot topic? It is not because they are too busy. Let's get real. It's because they do not want to be bothered with conflict and problems that today's market presents.  By avoiding problems and procrastinating issues, deals will be lost along with the reputation and trust of the real estate community.

Conflict can also come in the form of disagreement such as disagreeing on contract terms, price, repairs requests, etc. Real estate professionals are in the business of conflict and must understand the importance of it in business.

"Even if we are not overly concerned about being liked by our people, we fail to hold them accountable because we don't feel it's fair to hold them accountable, which has something to do with Temptation #1." The Five Temptations of a CEO

Question: Do you avoid answering phone calls from difficult clients and Realtors involved in a difficult transaction?

TEMPTATION #5- Choosing Invulnerability Over Trust

Do you hate being wrong? Most people do. Being wrong shows you are weak. Many Realtors fear they will expose a weakness if they are wrong in pricing the house, showing the house, or negotiating a transaction. Truth is, maybe you did price the house wrong, or perhaps you should have negotiated differently. Maybe you don't have new business because you are a weak lead generator and have poor marketing skills? Instead of blaming the market and outside forces for your failure, own your weaknesses and trust others to help you strengthen them.

Wouldn't it be great of the AR community could embrace this and learn to trust one another with our failures and shortcomings? 

"Sometimes it is even okay to be burned, because you realize it's not fatal." The Five Temptations of a CEO

Question: Do you fear being wrong will cost you future business?

Hope that helps! Here's to conquering your Temptations in 2010!