Cleaning Up the Mess
The attached article was forwarded to me from Mike Good, the President of Sotheby’s International Realty. I think it says everything that needs to be said about the current state of affairs in residential real estate. Frankly, I am pleased to see others in the industry see things the way we do. The forest fire that is burning will go a long way toward clearing out real estate professionals who thought selling houses was a get rich quick scheme. I am proud that say that our team of 48 sales associates and teams remain committed to the profession and are in it for the long haul.
Enjoy the article below. Comments are welcome!
Best regards, Chad Time to pick up after housing mess courtesy of Marc Davison www.1000wattconsulting.comThe Davison File
By Marc Davison
| Marc Davison |
A few months ago, I wrote a column listing the things I would do if I ran a fictitious real estate brokerage company called Davison Real Estate. (See “Real estate in a pickle: Here’s a solution.”)
Over the past several weeks, I have talked with dozens of brokers reeling from the credit market crisis. It has again prompted me to ask myself, “What would I do?”
It goes something like this:
From the Desk of Marc Davison
CEO, Davison Real Estate
Dear Agents and Staff:
Good morning. I trust you all had a wonderful summer. Welcome back.
As you know, we are in the midst of a storm raining down on many Americans. Foreclosures are skyrocketing. Many parents are right now explaining to their children why they are packing up what’s left of their belongings and moving … somewhere.
Most of you, of course, are painfully aware of this. You may have former clients in this situation.
Despite assurances that the credit market will somehow be stabilized, deals will continue to fall out of escrow. Well-qualified buyers will struggle to get through underwriting. You will be tempted to indulge the false hopes of sellers when pricing homes. You will make far less money.
So starting today, we — you and me, together — will begin to rehabilitate a company body that has over the last 10 years become fat, lazy and spoiled. If you join me, in time we will emerge healthier and more prosperous. If you recoil, dig in and cling to the past, then I ask you now to take your real estate license elsewhere. There may be a place for you in this industry, but it is not at Davison Real Estate.
To begin, let me reintroduce you to who we are as a company. That name that appears on our storefront, on your business cards and on your yard signs is a name that has meaning and history. The people that built this firm did so on a handshake, on their word, and on deeds performed within the community. All were bankable. Beginning now, I expect you to carry that history faithfully forward.
We will have to work hard to regain the confidence and trust of the public. From now on, every human being we touch will no longer wonder if we have their back. They will know it.
Starting today, we will begin an audit of every program, practice, application, vendor relationship and product we have. What doesn’t fully honor and respect our customers will be discarded. No more drip e-mail tools; no more script-peddling luncheon speakers; no more dual agency legerdemain.
We are also going to look at who among you has not attended our training courses and who instead consciously decided to ignore the many support services and tools we have made available. Too many in our company have chosen to remain uninformed and underskilled. That is no longer acceptable.
Attached to this letter you will find a list of approved lenders, title reps, home warranty folk and vendors. These are the most reputable partners in our community. If your cousin Bob is not on this list, he is no longer permitted to touch one of our customers. If you transgress this policy, you will be handed back your license.
After you read this letter, please make an appointment to meet with the highly trained professionals within our marketing department. Beginning now, everything that communicates our mutual message to the world will go through them. Your signature file. Your business cards. Your personal Web sites. Your fliers. Everything.
The story you tell the world reflects on your peers within this company and throughout the entire industry. As professional men and women who handle the most important financial transaction in our customers’ lives, we will present ourselves accordingly.
If you are ever approached by someone from HGTV, TLC, Lifetime, “60 Minutes”, “Dateline” or any other news organization, be advised that as long as you represent this firm, you will refrain from engaging them. Be mindful of the fact that everything you say and do is a reflection of this company and every individual who works here. If this does not meet your approval, start your own brand.
In 30 days we will be removing from our office all copy machines, filing cabinets, fax machines, folders, transaction binders and other 20th century tools that drain our company of resources and subject our customers to unnecessary hassles. Get a Tablet PC, e-fax account and PDA, and start using the transaction management system that we invested in four years ago. Hairstylists know to show up to work with precision tools. So should you.
Starting now, all homes we list will be marketed online with no fewer than 20 pictures, a video or virtual tour, and articulate, honest copy. If you do not know how to make this happen, get briefed today on what has been possible now for years. There will be a test tomorrow.
Finally, as a member of this firm, remind yourself daily of your commitment to be the best. If you’re not the best, then you are nothing. Look around you. This building, our executive team, our technology, our history — it’s a foundation we expect you to add to, not take from. Honor it and you have my word that it will honor you.
Sincerely,
Marc Davison
CEO, Davison Real Estate
I have be a real estate agent since 1995 and enjoy the market when it’s tough. We have to be our best and opperate above board. Do the right thing and the industry will serve you well. Sure it would be easy to follow the money, but that is not loyalty to myself, the company that has believed in me or my clients that I continue to do business with. I enjoy the times that make you look at who you are in company with, if they are good people, operating at a level with true integrity, the income follows instead of me following the money. Getting fat, lazy and compacent has never served anyone or any company well, get out there and be your best, look for the people who hold their head high and are proud to tell others the company they work for. I am honored to hand out my blue and silver business card which prouldy displays the SKY Sotheby’s name. This company will be here for years to come and I will remember the tough days that made us be our best.
I call what a market like this does to the industry the “thinning of the herd” and it was long overdue. Being a part of a company like this makes you realize how true professionals can thrive in any market. Perhaps if some of the consumers who are in bad investments now had relied upon the counsel of full time, dedicated real estate professionals such as all of the agents at SKY Sotheby’s instead of part time agents with no experience in the real estate market, we would not be seeing so many people in trouble due to questionable at best real estate investments. I’m proud to be associated with this group of people here at SKY Sotheby’s International Realty.
Great article Chad. The fictitious real estate company sounds very much like SKY Sotheby’s. We have already implemented many of the great features outlined above. It is a pleasure to be a part of such an innovative team.
As President Elect of the Venice Area Board of REALTORS, I am quite astute of the market dynamics. Professionally I feel there are more opportunities in the Sarasota County Real Estate market now than ever before. I am Passionate about Real Estate and proud to be a member of SKY Sotheby’s International Realty.
“We are what we repeatedly do.
Excellence, then, is not an act, but a habit.”
Aristotle
I think this article really speaks to what SKY Sotheby’s is all about. Dedicated professionals, increasing their skills, utilizing the many tools SKY offers to agents and clients in order to provide excellent service. In everything that we do, even the most mundane tasks we need to remember our vision of elevating the public’s perception of the business. That’s what sets SKY above the rest of the bunch and that is what will keep SKY going, no matter what is happening with the market.
Well-said, Tom Cail!
I am truly bubbling over with enthusiasm after the retreat and spending time with the Realtors within this company. Everyone says it will take time to adjust, I am very happy to adjust with such a qualified group of individuals. I can’t wait to get my business cards!
Reading the article makes me feel like we are in the middle of one of our company meetings…all the points that Davison makes are like checking off a box on the SkySothebys checklist.
Davison’s fictitious letter exemplifies the rude awakening many Real Estate firms are facing in the midst of a challenging market environment. The letter was abrupt and to the point. Since day one we have had a mission and a clear vision of where we were going and how we were going to deliver an exceptional level of unmatched service to our clients. It’s almost like Davison has been a fly on the wall in our office taking notes!
“Lead or get out of the way” is the morale of this story and should be the company motto going forward.
It was as if this article was taken straight from the Sky Play Book. In the past 2 years since I have been with this company I have had the privilege to see the SKY Buisness Model refined to the well oiled machine that we have today and is a testament to the firms innovation in this market.
It is an honor to be a part of SKY Sotheby’s enthusiastic professionals who are thriving in a challenging market. Colleagues, who encourage, support and celebrate each others successes is what our clients are attracted to. It is our passion and commitment that guarantees our continued success in the Sarasota market!
Great article! It does mirror the SKY model where our team of dedicated professionals continue to provide superior service to our clients by utilizing exceptional support from the Company and vast Sotheby’s network, advanced technical tools and our strategic approach to marketing. It is apparant that this team commits daily to be the best in the industry!
The Sotheby’s name is synonymous with quality. Agents at SKY Sotheby’s International Realty are hand-selected, and represent the market’s top real estate professionals. Our common mission is to provide clients with an unparalleled level of service. Combined with cutting-edge marketing and exceptional local staff, including our Client Concierge, we are able to provide our clients with first-rate attention and access to the global market, making transactions effective and seamless.
This article speaks to the issues that we as a company address day in and day out and are part of our professional work habits. As a full-time Realtor, I have devoted 13 years to this profession and it is not something I do occasionally. As with any other career, longevity speaks to the level of commitment and despite the cyclic nature of this business, the true professional can sustain themselves and continue to forge long lasting relationships with their clients. SKY Sotheby’s continues to motivate us as a group to always strive to be the best in our field.
I can’t think of a better motivator then giving ownership to everyone that works for a company. SKY Sotheby’s has done so giving everyone such pride and the desire to take their business to the next level. I am so proud to work with such an innovative company and dynamic professional
Hi, Chad,
Knowing that you share his views, Davison’s words are timely and inspiring to all of us here at SKY, but in particular to me, in that they truly reflect the ideals, concepts and practices we have in mind as we draft the basis of SKY Commercial. It’s all about integrity, honesty, love of work and people. It’s why we sleep well most nights, and look forward to a rewarding day most mornings. Doesn’t get much better than that, does it?.
Best regards,
Alicia
P.S. The retreat was terrific!
What a great article… inspiring, invigorating, and exciting! I know that every agent at SKY Sotheby’s strives each day to uphold the standards that Davison discusses. It is an honor to be part of team that consistently offers our clients the utmost service, simply because that is what they deserve. This is a serious industry, and it requires skill, knowledge, and professionalism to produce results. The state of our market will continue to spotlight those agents who regard their business as a profession, and, with our mission in mind and systems in place, “the SKY is the limit”!
I once worked with a successful CEO who instilled in his employees the practice of “…..day-to-day rightness….”. The Davison letter expands upon that practice and elevates it to another level.
At SKY Sotheby’s, we are collectively committed to always do “…the right thing…” not only for our customers but our community as well.
Davidson’s letter reminds us that a challenging market necessitates the seemingly contradictory concepts of innovation & back-to-basic skills; dual concepts that are intrinsic to Sky Sotheby’s ability to deliver consistent results to our clients.
I feel priviledged to be a part of such a collegial group of professionals with so much passion, energy and focus in what we do…. perhaps, thankfully, made easier by our managing partners’ insistence on providing us the best agent support of any real estate firm - in any market.
I cannot think of a more rewarding career pursuit here in the middle of paradise. All business is cyclical and this is secondary to any professional following a chosen path. Real Estate has never been an easy business although it may appear so at times. I echo Tom Cail’s sentiment that downturns send the amateurs packing and expose the true professionals.