Category: Real Estate Sales

10 Ways To Take Responsibility In Business + What Is Parkinson’s Law

And Why Should You Care? 

The top 10 list for taking more responsibility in your business… starting with number 10:

Ten:  Take responsibility for your thoughts, feelings, words and actions.  

Nine: Blame less. 

Eight: Complain less.  

Seven: Refuse to take anything personally. 

Six: Make yourself happy. 

Abraham Lincoln said this more than 150 years ago, “Most folks are about as happy as they make up their minds to be.”

Five: Live more in the present moment. 

Four: Use the power of intention. 

Three: Work expands to the time allocated (Parkinson’s Law)

Two: Start with and assume positive intent.

One: What would #1  be for you?  

What would #1 be? How about: “Don’t place your monkey on my back?”  

What is Parkinson’s Law?

Parkinson’s Law is the old adage that work expands to fill the time allotted for its completion.

The term was first coined by Cyril Northcote Parkinson in a humorous essay he wrote for “The Economist” in 1955. He shares the story of a woman whose only task in a day is to send a postcard – a task which would take a busy person approximately three minutes. But the woman spends an hour finding the card, another half hour looking for her glasses, 90 minutes writing the card, 20 minutes deciding whether or not to take an umbrella along on her walk to the mailbox … and on and on until her day is filled.

Read his original article here.

Why should you care?

Deadlines can cause procrastination or even prompt people to fill their time with trivial matters.

Implication?

One: Assign a “time limit” to everything. Example: in the next hour, I will complete ____. If you say, it will take 30 minutes to get your shipping done or 90 minutes, both are right. The work will expand to the time given. Allocate your time!

Two: Putting projects into the context of larger goals and creating timelines in days rather than weeks are two strategies to help overcome Parkinson’s Law.

NAR, Lawsuits, and Doing The Right Thing

During the COVID lockdown, I wrote a blog titled, “Doing The Right Thing Is Always The Right Thing,” today’s unveiling of the recent lawsuit settlements brought that to mind.

I’m writing this from Tahoe, where I was part of a panel with the Realty Alliance on scaling your business. All the companies attending are the best of the best, yet some have 100 years or more of operations. You create a 100-year enterprise by always doing the right thing.

Some 20 years ago, I worked with buyers, and a co-op commission came up that was $1.00. Because I had adequately educated my buyer clients, I could show homes of any commission level—the right thing.

Today’s news released by all the major real estate news outlets summarizes some of the settlement points; only one is breaking news, in my view. The summary:

Significant

• Redfin no longer requires agents to be NAR members.
• Anywhere, company-owned operations no longer require NAR membership and encourage franchisees to do the same.
• REMAX company-owned regions no longer require NAR membership and encourage franchisees to do the same.
• Note: in most areas there is no procedure to have a hybrid membership brokerage – you are all in or all out.

Implication: Significant policy discussion at the local associations. And the decoupling of NAR, state associations, and MLS. The watch out – this could be like CPA’s not having GAP (generally accepted accounting principles). The wild wild West will not serve the consumer.

I’m a fan of the local and state associations and NAR. I see the value, the advocacy, the standards, the services like RPR, economic reports and research and so much more. More on this in another post.

I’m also a fan of freedom of choice… those who deliver the most value will not struggle to maintain members.

The Right Thing – Nothing Really New

The settlements also include the following:

• Anywhere will prohibit their brokerages and agents from claiming buyer agent services are free and will also require agents to include the listing broker’s offer of compensation for prospective buyers’ agents as soon as possible in each active listing.
• Agents must disclose that commissions are entirely negotiable and not set by law.
• No minimum commission requirements
• No technology or manual method that enables the sorting of listings by commissions offered.

The implication here? Nothing new – for over 20 years I’ve taught my agents to do the same, and executed my practice with these principles. Bringing these practices to a higher level of awareness is a good thing. Yet here is what I know, those who deliver the most value will not struggle to create thriving real estate practices.

For the vast majority of my REALTOR® colleagues – regardless of your brands position – is leadership and service not abdication. Get involved and be the change you want to see.

Doing the right thing is always the right thing!

The Case Summary:

• Sitzer | Burnett Case
• Moehrl Case
• Gibson Case
• Batton 1 & 2 Cases
• Burton Case
• March Case
• QJ Team Case
• Phillips Case
• Nosalek Case
• The Department of Justice / National Association of REALTORS® Case

The implication? List to last. Control your destiny. Become the best listing agent in your market.

#WinTheDay

 

 

 

 

 

75% of the year is over… it’s time for a quarterly business and operations review! Is it scheduled? I have a powerful 21 question business review – [email protected]

Are you ahead, behind or on track with your goals? In any case “declare it perfect and move forward powerfully.”

Review what’s working, what’s not. Make the adjustments, and keep moving forward.

Basic agenda:

• Mission, vision, values and stakeholders  – any adjustments?
• Key KPI s
• What’s work working What’s not
• Start, start, more, less
• Action steps (no more than 2)

The results will happen – as long as we are all willing to execute the daily activities, track the results, make the changes to the behaviors and engage an accountability partner.

Are you nterested or committed to what’s left of this year?

Perfect! 

I ran across a YouTube video – Good with Jocko Willink – that reminded me of my good friend and mentor, Tom Ferry. 

Tom and I were blessed to travel and work together on many projects, and I noticed one day when something did not go as planned, he said one simple yet powerful word: 

Perfect! 

Mark, declare it perfect. Good, bad, or indifferent, Tom would declare it perfect.  Something didn’t go our way? Perfect – more time to get better! Unexpected challenges, perfect: we have the opportunity to figure out a solution. It was an intentional mindset and the opposite mindset of many people I know. 

It’s an enabling core belief. I was thinking you and I don’t need a new market, a new tool, or a new widget. We need an upgrade to our belief system.

Perfect! 

So maybe today, do as George did in Seinfeld Season 5, Episode 22 do the opposite. Or, like Tom does, declare it perfect. And that’s how you’ll win the day. 

#WinTheDay