Change in the real estate industry is everywhere and increasing in speed. We have heard for decades that these changes will replace the professionals in real estate transactions.
The truth is, there are only two constants in real estate; change will continue happening no matter how hard you try to stop it and real estate will be reliant on people. People are needed to create answers to new questions/challenges, to use new and future technologies and to deal with all the changes in the evolving real estate industry.
Here are five ways to ensure you recruit and retain the right people for your business who will benefit from and enhance the changes happening in the industry.
- Teams play a bigger role
Research shows, and we have a program that demonstrates this, that teams make better and more effective decisions than individuals. The key, according to best-selling author Jim Collins, is to have the right people in the right seats on the right bus. In other words, have a system that helps make sure people are doing the tasks they do best. Keller Williams (KW) is famous for having teams that do this. We work with hundreds of KW organizations helping them. We are launching special programs with REMAX and other organizations to do the very same thing.
- Person-Job fit (benchmarks) becomes more crucial
Benchmarks are a system to identify the job-related characteristics needed to succeed at a certain job. We suggest organizations mention these most important characteristics in job postings, so job candidates self-select out and don’t apply for the job. We, and those who use benchmarks, have reports that measure these characteristics and are used in the interview process to determine the candidate’s job fit. Only those people who have the appropriate characteristics are hired.
- Performance happens through numerous personality tools
Many organizations use some type of people-personality measure. DISC, CliftonStrengths, Predictive Index and over 100 other “personality” measures are available. The problem is, the most popular assessments only measure one aspect of personality: Behavior.
For a much better picture of the person, do what our clients do—look at numerous personality factors: behaviors, motivators, emotional intelligence and others to get a more accurate and useful picture of the person you are hiring, coaching, developing, etc.
- It’s time to break all the rules about people
Organizations that think out of the box are more effective in times of uncertainty and change. Start “breaking the rules.” For example, most organizations lead with money as the only motivator of staff. Not us. Our clients use motivators that motivate THAT person. There are dozens of different motivators in addition to money. The more you use non-financial motivators, the more money you have to do other things.
Another assumption is all DISC assessments are the same. There are dozens of DISC assessments and most aren’t very accurate. Use an accurate one like ours where about 75% of the people say it’s over 90% accurate, many say it’s 95% accurate or greater. Using an inaccurate DISC report can cost you thousands, tens of thousands or even millions of dollars.
- Embrace AI not to replace people, but to better understand and work with people
Using AI to decrease the need for staff is only one way to benefit from AI.
Explore using an AI avatar to show people how to better communicate, motivate, manage and do other business-related behaviors with staff and within teams. We launched an AI avatar at the REMAX convention that shocked people with her accuracy and ability to help build relationships. An anytime management consultant! She is programmed by us to make sure she does not use inaccuracies prevalent within the internet.
Bottom line
Technology is here to facilitate human needs. Having the right person-job fit, using teams and numerous assessment tools, breaking the rules and using AI as a consultant are keys to a successful real estate business.
For more information, visit www.abelson.net.
