Tag: Goal Setting

The acquisition of Realtor.com could boost competition, says Mark Johnson, Co-Founder of CoRecruit and former CEO of JPAR – Real Estate.

I recently had a call with Candace Evans, the Founder and Creator of CandysDirt.com, and she asked me if the CoStar and Move proposed acquisition was a big deal.  My answer was yes! The rumor on the street – started at the Inman Connect Conference – is a possible acquisition price of $3 billion dollars, and that certainly is a big deal.

My business acquaintance and friend, Steve Murray, co-founder of REAL Trends, said, “I’m not convinced a sale would have a meaningful impact for real estate brokerages. These firms think if they control the information, they’ll control the distribution of buyers and sellers to agents and change the economics to where they’ll be getting a bigger share of the commission dollar. I suppose all those things are possible, but Zillow hasn’t been able to pull it off.”

Rupert Murdoch’s News Corporation purchased Move Inc. for nearly $1 billion in 2014, followed by the 2018 acquisition of the Austin, Texas-based lead-generation firm OpCity. CoStar has spent more than $2 billion on residential real estate deals over the last decade, beginning in 2014 with Apartments.com and later acquiring Homesnap in 2020 to launch Citysnap. CoStar’s market cap has more than doubled since 2018 to $32 billion, compared to Zillow’s $10 billion.

You never know the true motivations of sellers and buyers, yet for Move, it could be cashing out at the right time to focus on other aspects of the business, and it seems CoStar might be taking advantage of a strong cash position and difficult market conditions to make a strategic acquisition at a favorable price. CoStar understands the business and has a strong track record of adding value. A new owner always brings new ideas and new innovations, and that typically drives more competition. And competition always creates more favorable pricing for users. For agents, teams, and brokers, this could be really good news.

Across the industry, you are seeing major players acquire tools and technology to serve the consumer and the agent from the contemplation of a home sale or purchase all the way through to closing, funding, and post-sale support. So this will not be the last acquisition we hear about as the big players in the industry want to capture a larger share of more services within the nearly 5 million homes sold each year.

Just attended a real estate conference like Inman Connect? Feeling inspired and loaded with new ideas? Conferences offer incredible opportunities to boost your knowledge, network with peers, and get pumped up for your business. Here’s the key:

Turning That Inspiration Into Action.

So many attendees return home overwhelmed and never implement what they learned. Don’t let that be you! Here’s a simple 4-step plan to maximize your conference investment:

1. Strengthen Your Network:

Conferences are all about building connections. Don’t let those precious contacts fade away! Within a week, follow up with the people you met. Send a quick email thanking them for connecting and mentioning something specific you discussed. This helps solidify the connection and opens doors for future collaboration, referrals, and knowledge sharing.

2. Leverage Social Media:

Showcase your commitment to excellence by sharing your conference learnings on social media! This demonstrates your dedication to professional development and positions you as a knowledgeable resource for your audience. You can:

• Post key takeaways and insights from sessions attended.
• Share photos from the event and tag relevant people.
• Ask engaging questions to spark conversation and position yourself as an expert.

3. Turn Notes into Action:

Those conference notes are gold, but they’ll lose their value unless you act on them! Create a checklist outlining the key takeaways and action steps you’re committed to. Here are some additional tips:

• Break down large goals into smaller, manageable tasks.
• Set deadlines for each task to stay accountable.
• Share your checklist with an accountability partner (e.g., mentor, coach) for additional support.
• Use checklists to your brain’s advantage! Checklists help organize information, improve memory, and boost motivation.

4. Take Action NOW!

The best time to act on your post-conference inspiration is now. Don’t let procrastination steal your momentum! Prioritize your action steps and start implementing them as soon as possible. Remember, consistent action is key to turning conference learnings into real-world results.

By following these simple steps, you can transform your conference inspiration into lasting success. Now get out there and make it happen and win the day!

A few years ago, I was coaching a real estate agent who was eager to implement some new sales strategies. “I can’t wait to begin,” she exclaimed to me.

Instead of simply praising her enthusiasm, I asked a simple but powerful question: “Why is that important to you?”

Her initial answer was predictable: “To sell more homes.”

But I kept digging:

• “Why do you want to sell more homes?” “To make more money.”
• “Why do you want to make more money?” “To buy a larger home.”
• “Why do you want a larger home?” “So my mother and sister can move in with me.”
• “Why is that important?” “It’s been our dream to live together as a family.”

This conversation revealed something crucial: she didn’t really want to sell more houses. Selling more houses was simply a means to an end. What she truly desired was the experience of living with her family in a shared home. Her “why” wasn’t about sales figures; it was about family connection and fulfilling a long-held dream.

This principle applies to all areas of life, not just real estate. We often focus on surface-level goals—more sales, a promotion, a bigger paycheck—without considering the deeper motivations behind them.

Why is it important to uncover your true “why”?

• Increased Motivation: When you connect with your core motivations, you tap into a powerful source of intrinsic drive. This makes it easier to overcome obstacles and stay committed to your goals.
• Clearer Focus: Understanding your “why” helps you prioritize your actions and make decisions that align with your values.
• Greater Fulfillment: Achieving surface-level goals without a strong “why” can leave you feeling empty. Connecting with your deeper motivations leads to a more meaningful and fulfilling life.

How can you discover your own “why”?

Use the “5 Whys” technique, as demonstrated in the opening example. When you identify a goal, ask yourself “why” five times (or as many times as necessary) to peel back the layers and uncover the underlying motivation.

Example:

• Goal: I want to get a promotion.
• Why? To earn more money.
• Why? To provide a better education for my children.
• Why? Because I want them to have more opportunities than I did.
• Why? Because I want to ensure they have a secure and fulfilling future.

In this example, the true “why” is about providing for the next generation and ensuring their future well-being.

What are your goals? Take a moment to ask yourself “why” and dig deeper. You might be surprised at what you discover. Uncovering your true “why” is the first step towards achieving lasting success and fulfillment. And that is how we win the day!

So what is it you REALLY want?