BUSI­NESS DE­POT

Elite Agent - - CONTENTS - John Knight

It isn’t ev­ery sin­gle agent that is cut out to be a prin­ci­pal. John Knight in­ves­ti­gates how to cul­ti­vate lead­er­ship be­hav­iours which will one day en­able a smooth tran­si­tion from sales­per­son to busi­ness leader.

Learn how to be the leader you want to be be­fore be­com­ing a prin­ci­pal – there will be enough other things to learn once you get there.

Isee businesses start. I see businesses stop. What makes one suc­ceed where an­other has failed? Through our ex­pe­ri­ence of work­ing with agents and real es­tate businesses of all shapes and sizes, we have been able to iden­tify the traits of those agents able to make the tran­si­tion to the ul­ti­mate role – prin­ci­pal.

EVERY­ONE IS A BUSI­NESS

I love the phi­los­o­phy of ‘every­one is a busi­ness’ – this is a great philo­soph­i­cal base for how ev­ery fu­ture prin­ci­pal should start think­ing now. Those who suc­cess­fully tran­si­tion from agent to prin­ci­pal have been think­ing about them­selves like a busi­ness well be­fore they start or buy their own agency, and once they are in that po­si­tion they men­tor their team on the same ba­sis.

THINK BIG & HAIRY

With their eyes wide open, they are able to take a long-term view of where they are go­ing. Usu­ally they have a work and/ or per­sonal BHAG (Big Hairy Au­da­cious Goal) that re­ally drives and mo­ti­vates them to reach for­ward. Those who don’t have this pas­sion and drive sim­ply run out of en­ergy when they come across the var­i­ous hur­dles along the way.

STAND OUT FROM THE CROWD

I’ve al­ways loved the book Pur­ple Cow by Seth Godin. Es­sen­tially, it en­cour­ages you to know why peo­ple do busi­ness with you and make sure that this rea­son is dif­fer­ent to what every­one else is say­ing. Great fu­ture prin­ci­pals are al­ways striv­ing to be dif­fer­ent and re­mark­able at some­thing, be­cause if you do this, you will be re­mem­bered.

LEVER­AGE IS VALUE

In real es­tate, whether you are an agent or a prin­ci­pal, your ma­chine is the sys­tems, pro­cesses and pro­ce­dures you build around your peo­ple. As a suc­cess­ful agent, one of your big­gest bar­ri­ers to growth is your own ca­pac­ity. Build lever­age by em­ploy­ing oth­ers to do the things you are not great at and wrap around them great sys­tems and pro­cesses.

YOU PUT CASH ASIDE FOR A RAINY DAY

Spend­ing money to make money is of­ten re­quired in busi­ness, but the suc­cess­ful agents are still able to put money aside for a rainy day. This in­dus­try is con­stantly ex­pe­ri­enc­ing highs and lows (ei­ther within or out­side your con­trol); suc­cess­ful agents and suc­cess­ful prin­ci­pals leave them­selves with room to move.

CUL­TURE IS KING

As a prin­ci­pal, your team can of­ten get more fo­cus than you give yourself. The cul­ture you cre­ate is es­sen­tial to the suc­cess of your busi­ness; I know from ex­pe­ri­ence that those businesses with an en­gaged, aligned and co­op­er­a­tive team en­joy the best fi­nan­cial re­sults. In­vest in your cul­ture.

YOU DON’T TOL­ER­ATE WASTE

As a suc­cess­ful agent, wasted time and money in­fu­ri­ates you; even more than that, you don’t tol­er­ate it. One of the big­gest wastes I see is un­funded ven­dor ad­ver­tis­ing – know­ing how to re­cover VPA up­front can have a mas­sive im­pact on the fi­nan­cial suc­cess of you and your busi­ness.

EGO IS NOT A DIRTY WORD

The com­pet­i­tive spirit of the real es­tate in­dus­try is one of the rea­sons it is great. With so many prin­ci­pals com­ing through the ranks as a sales­peo­ple, we should not be sur­prised that this com­pet­i­tive spirit can some­times come across as ego. Great fu­ture prin­ci­pals are able to find that bal­ance be­tween just the right amount of ego and enough com­mon sense to not be­lieve their own bull too much.

YOU DON’T KNOW WHAT YOU DON’T KNOW

Know­ing what you are good at and what you are not means you can fo­cus on the gaps to en­sure your en­ergy is utilised in the most ef­fi­cient way pos­si­ble. Suc­cess­ful fu­ture prin­ci­pals sur­round them­selves now with those they feel com­fort­able enough with to ask the silly ques­tions.

LEARN TO LEAD

Whether you have a team un­der­neath you or not, if you are al­ready suc­cess­ful as an agent you will be seen as a leader. Learn how to be the leader you want to be be­fore be­com­ing a prin­ci­pal – there will be enough other things to learn once you get there.

Think­ing you want to be a prin­ci­pal? Start work­ing on the traits that will make you suc­cess­ful as an agent now and in the fu­ture as the busi­ness owner.

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