Carla Cross, CRB, MA, International Speaker

In my resource, The On Track to Success in 30 Days System for Experienced Agents, I introduced a concept called the ‘Career Life Cycle’. I learned this concept as a CRB (Certified Real Estate Broker) instructor. Simply, the concept says that real estate agents (and managers, and companies), go through four career phases:

1. Introduction
2. Growth
3. Maturity
4. Decline
   

Each of these phases has its own opportunities and challenges, which I discuss at length in the On Track resource—as well as provide best practices for each phase. In this article, let’s tackle the unique challenges of the ‘mature’ agent.

The Mature Business and Agent

If you have been in the business for over five years, chances are you have enjoyed a ‘mature’ business. When the market was on fire, you were getting most of your business from repeat and referrals (and some happy ‘accidents’). You have built up a strong enough business that you do most of your business based on pre-built trust and confidence. You are admired in your office (and perhaps your whole company) for your leadership and mentorship.

The market changes…..

All of a sudden (at least it seemed sudden), your referral business dried up. You are searching for other means of business. But, you’re relatively unprepared, since your business had been repeat and referral. You didn’t have to prove your professionalism. Now, you do.

Competition raises its ugly head. Because the mature agent gets most of her business from referrals, she may not be prepared to compete against more aggressive agents—or agents trained with the latest presentation methods. This happened with one of my mature agents in my office, Martha. She was referred to George and Betty Smith, who wanted to sell their home. But, George and Betty also were referred to John Schlock, of ABC Realty.

Martha knows John Schlock, and she thinks his last name is appropriate…… Of course, though, she can not say this to George and Betty. Martha’s in kind of a bind here. She relies on word-of-mouth for her business, and she relies on this word-of-mouth building her credibility to the point where she has no need to build it herself. This works fine when she is not competing with another agent, and the sellers already think she is the best thing since sliced bread. It does not work so well when she is competing with another agent—especially one who will tell the client whatever they want to hear!

Martha relies solely on her ‘known’ reputation. Martha has no testimonials in writing, no Professional Portfolio, no visual marketing presentation, and no statistics systematized to teach George and Betty the principles of how real estate works. Why not? Because, Martha did not need these credibility-builders very often, like those newer agents need. And, when she does, it is too late to create them.

This ‘mature business’ attitude and practice results in lost listings or over-priced listings. This makes Martha mad, but, to do anything about it, Martha would have to admit she needs to quit acting like a ‘mature’ agent and push herself back into the growth phase. Just like the Ford Taurus, she needs to ‘re-tool’ herself. You, dear reader, may be like Martha. Congratulations on taking the risk to even look at your business today. Many ‘Marthas’ in real estate are just waiting out the inevitable–their descent into decline.

In my next blog, I’ll give you eight methods to decide if you’re in the ‘mature’ phase of your business—and what to do to push yourself back to ‘growth’ to revitalize your business—and yourself.

Carla Cross, CRB, MA, is president of Carla Cross Seminars, Inc. and Carla Cross Coaching, specializing in real estate sales productivity and management profitability. One of her most popular presentations and webinars is Seasoned but Stuck. Cross, an international speaker and coach, is the author of 6 internationally published books, 20 productivity programs, including On Track to Success in 30 Days System for Experienced Agents (and its coaching companion for managers) Carla is a winner of the National Association of Realtors’ National Educator of the Year award. Contact her at www.carlacross.com or 425-392-6914.